Marketing Strategy of Clothing Product

Introduction

The standards of living of the people are continuously improving or changing across the world. Therefore, the demands of new clothes and fashion are seemed to be increasing continuously. The demands of clothes remains variating according to the seasons and weather. The clothing brand and company introduce new design and fashion, in every season and festivals. Also the clothes introduced on different festivals are gaining a huge attraction from the public, especially youngsters. In this report, a new clothing brand is looking to launch its product by the name of “Innovations Company”. This company would introduce all kinds of seasonal and formal clothes for both genders.

Marketing Mix

Marketing Mix can be defined as a set of actions and procedures that a company would adopt, in order to promote and enhance its product in the market. Marketing mix helps the company in making an effective and efficient marketing policy. The marketing mix of a product revolves around, “product, price, place, and promotion” (Londhe, 2014).

Product

Identifying Product

Clothes are very important part for human being. Clothes protect human body from the severe effects of extreme weather conditions. I have planned to start a clothing product, according to the latest standards of fashion industry. The quality of our product should be strictly at every stage of manufacturing. It has been planned to focus on the quality of Innovations’ products, in order to compete with the other brands.

Initially, it has been planned to start our product from the Alberta province. We would make it to supply our product across the Alberta province. After receiving a good response and feedback from the customers, we would expand our supply across the country. We would start selling a wide variety of clothes and accessories, for the customers of all age group. The clothing accessories include sun glasses, under garments (such as socks, under wear, etc.), different styles of caps and gloves. Also we will provide different and colors of hand cuffs and ties. Specially, the youngsters and teenagers would enjoy a wide variety of design and fashions by visiting our outlets.

Name of Our Brand

We have planned to launch our clothing product by the name of “Innovations”. The aim and vision of Innovations Company is to provide all kinds of clothes and clothing accessories to the customers of all age groups globally. The vision of Innovations Company is to introduce latest fashions and designs according to the desires of the public. We are focused to provide finished quality products to our customers globally. The objective of this company is to use the modern design and innovative in the manufacturing process of our products. The management of Innovations Company would focus to introduce latest design and fashion to its customers time to time. 

Benefits of Our Product

It has been observed that people while purchasing clothes, compare the price and quality with other brands. Therefore, it has been planned to maintain the quality of our product within reasonable cost. Innovations Company would offer a large variety of fashion designs for both genders male and females. We would also offer seasonal products, such as clothes for winter, summer and rainy seasons, following latest design and fashions. Our customers would enjoy a wide variety of clothing accessories such as fanny wallets, matching and colorful ties and bows.  

It has been planned to open our retail outlets and stores in nearby areas, so that the people can reach our products easily. We would offer special discounts to our customers, and different kinds of vouchers and coupons to them. Our customers also enjoy special offers on some clothes, like buy two get one free, or buy four by paying the price of just three. The Innovations’ management has decide to give special vouchers to their loyal customers, in order to maintain long relationship with them. It has been planned by the Innovations’ management, to adopt a unique selling strategy, in order to stand out our product in the market.

Packaging of Our Product

Packaging is define as the exterior art of a product. It has been observed that excellent packaging plays a vital role in attracting the customers. The packaging of Innovations product would involve designing and architectures, in order to make the product more attractive for the customers. For example, the T shirts must be wrapped in a packet, which contain a design of that T shirt on its outer surface their design. The labels were also printed on the packaging in order to aware the public about the type and material used in clothes. Also the sizes and other relevant information is printed on the packaging of the clothes (Ait Oubahou et al., 2019).

The theme of the label would be decided according to the age group of the customers. The clothes of youngster and teenagers would be packed in the boxes having attractive and pleasing slogans printed on them, in order attract their interest. The innovations’ management has decided to print attractive design and color on the packaging of party wear clothes and wedding clothes. It has been decided to wrap the formal and informal clothes separately. It is not feasible in terms of marketing to wrap the party clothes and casual clothes in a same packet. Also the clothes of different fabrics and raw material would be packed separately. The Innovations Company has decided to design environmental friendly cartons, in order to minimize the carbon foot prints.

Product Life Cycle

“The product life cycle (plc)” involves four basic stages that are, “Introduction, Growth, Maturity, and Decline”. Every stage of plc provide new opportunities and threats to the manufacturers of the product. The current stage of a product could easily be assessed by observing the environment of the market and sales of the product. It has been observed that the products of clothing and fashion industry have a short span of life. The price of the products of Innovation Company must be strictly monitored on every stage of product life cycle (Scott, 2011).  

The products of Innovations Company are in the first stage of plc that is growth. This is the stage where the demand of the product is more. It has been observed that in growth stage, the product started facing competition. At this stage, the Innovations Company would go to make the product stronger, so as to make it eligible to beat the competition. The Innovations’ management would focus on the qualities and attributes of their product. It has been decided to enter new segments of current market. The company would reduce its advertising and awareness campaigns at this stage. Further it has been decided to expand the distribution network, so as to meet the increasing demand of the customers. Moreover, it has been planned to reduce the price of our clothing products, when it start facing the competition. This strategy would prove to be very helpful, in giving tough time to the competitors.

Pricing

At the start of the launching campaign of the products of Innovations, we would not focus to enhance the profit of the company. The first priority is to enhance the sale of the company. Pricing is the short term goal, to increase or expand the sales of a company. The Innovations Company has planned to give special discounts to its retailers, distributors and to the final consumers (Marwala & Hurwitz, 2017).

Pricing Strategy

It has been observed that the middle class group of consumers, while shopping, focuses on the pricing of the products. They always look for low price products and for this purpose they might compromise the quality of the product. Therefore, in order to attract these types of consumers, it has been decided to adopt bundle pricing strategy. According to bundle price strategy, more than two products or clothes of Innovations would be packed together and sold at discounted or reasonable price. It has been argued by several marketers that the bundle price is proved to be quite attractive, in attracting the consumers belong to middle or poor class (Ellickson et al., 2012).

On the other, it has been analysed that the consumer from the upper class, are more focused towards the quality and brand of the product rather than pricing. Sometimes, the brands or products having comparatively high prices are seems to be more popular among the rich class. Therefore it has been decide not to hesitate to increase the price of Innovations’ products in those outlets and marts, located in the localities of rich people.

Discounts for Trade Customers

The Innovations Company has planned to give special discounts to all retailers and distributors of the company, in order to enhance the sales. Initially it has been planned to give an overall 15 percent discount on acquiring a large quantity of Innovations clothes and clothing accessories. In this way, it is easy to convince the retailers and trade customers of the company to order the clothing products in large quantity. Moreover, the Innovations Company has decided to give cash prices and special gifts like mobile phones and tablets, to those retailers and trade customers, who would order the Innovations’ products in large quantity, on weekly or monthly basis.

Discounts for Final Customers

It has been decided to adopt different discount strategies, so as to attract the customers. The Innovations Company offers seasonal discounts to their customers. At the start of summer season, the fashion of summer would introduce by Innovations Company with 20 to 30 percent off. This would be very helpful not only in attracting the customers but also it gives tough times to the competitors of the Innovations Company. It has been observed that the seasonal discounts are quite helpful in successful introduction of new products. Quantity discount strategy has been adopted by the Innovations Company, in order to expand the sales of the products. It has been planned to offer special discount to those consumers, who has purchased above the prescribed limit.

Distribution

It is necessary for the clothes manufacturing units to find efficient distributors, so as to effectively introduce your product in the market. The retailers and distributors must be given special support and plan, in order to reach the target market (Tesar, 2013).

Adopting Online Sales

It has been planned to sell the cloths and accessories of Innovations Company through online marketing websites. Meetings would be arranged with the management of marketing websites, in order to communicate your marketing and sales plan effectively with them. This online service would really help the Innovations Company to reach its consumers at their door steps. Furthermore, it has been decided to start a personal website of Innovations Company for online sales on a small scale. Special funds has been allocated for this purpose.

Advantages of Online Sales

By adopting the strategy of online sale the company can reduce its delivery expenses. By adopting this online technique the operation and setup cost of a company would also be reduced. The company, by using online sales, could reach a large number of audience and market. It can also reach the international market, without much investment. The main advantage of online sale is that the company could operate 24 hours and 7 days a week. By working and operating constantly and continuously, the company would be able to give tough time to the competitors. Moreover, the company would need to acquire large buildings and shops, to sale its products. Also by using online sales strategy, the company would manage its shipment and delivery charges, by taking it from the consumers (Hu et al., 2014).

Integrated Marketing Communication

Objectives of Marketing Communication

To introduce the clothing product efficiently into the market, the management of Innovations has planned to consider the current environment of the market. The Innovations Company has aimed to expand its network of retailers and distributors across the Alberta province. On receiving an excellent response from the public, the distribution network of Innovations Company should expand across the country. The effective strategy of marketing communication would enable the company to explore the product efficiently in the market (Shimp & Andrews, 2013).  It has been observed that digital marketing is the most effective way of marketing a cloth. Therefore, the Innovations Company has decided to market its product, by using the social media platforms such as YouTube, Facebook, twitter, etc. As these social media platforms are quite popular in young generation, therefore it is easy to attract them by publishing our product details on these platforms.

Budgeting

The marketing budget of Innovations may include the cost of advertisements in different social media platforms and also the packaging of the product. The salaries of marketers and merchandisers includes in the budget allocated for marketing. Also the expenses of logo designing and post designing would falls into this category. The payment of the social media activities and the subscription charges (applicable in some platforms), would also be made from the budget, which is allocated for marketing purpose. It has been planned to allocate large amount of funds for the campaign o9f social media marketing, as it is the more effective marketing platform.  On the other hand, the packaging budget includes the salaries of labors and workers, involves in the packaging of clothing products.

Experiential Marketing

It is a technique of bringing the customer and the company closer to each other and enables the company to make their relationship long lasting with their clients or customers. The experiential marketing uses the techniques of analyzing the common senses of customers, which includes, “taste, smell, touch, sound and sight” (Fyall et al., 2019). It has been planned to use experiential marketing techniques to introduce the products of Innovations. Following this technique several case studies and detailed surveys would be reviewed, in order to know the current demands and desires of the customers. Also it has been planned to conduct interviews with renowned managers in order to know the techniques and methods used for mitigating the threats and risks faced in the process of marketing. Moreover, it has been planned to conduct surveys, to be well aware about the needs and desires of the public.

Conclusion

It has been observed that the clothing and fashion industry is facing very tough competition. In order to survive in this competitive market, the fashion clothing brand must variate their policies and strategies, according to the desires and needs of the customers. The clothing brands and company should constantly review their policy and strategies, in order to survive their products in this competitive market. It has been planned to allocate special funds to the “research and development (R & D) department” of Innovations company, so as to well aware about the fluctuating trends and environment of the market. The Innovations Company has planned to adopt various pricing strategies, in order to beat the competition. As the Innovation Company is in its growth, it should focus on expanding its network of retailers and distributors. As demand of the product of Innovations Company is increasingly rapidly, therefore it must reduce its advertisements campaign. 

References

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