Marketing strategies can make or break a brand. Each type of strategy targets a specific type of customer. As we all know, I love couture and I will be listing out the marketing strategies I intend to do for my brand.
My customer is a fashion forward woman. She doesn’t shy away from trying new styles. She loves to dress up and loves perfectly made garments that fit her well irrespective of her age. She reads all leading magazines, attends charity and fashion shows. Any woman who loves couture, fashion and fit will love this brand. Age is just a number when it comes to fashion.
PC: Collage by me(Krupa Nagarajan), Images from Pinterest
2. Advertising and Promotion Strategy
This type of marketing can be done when there is difficulty in acquiring raw materials or high quality for a product.The brand might choose to give access only to a few customers. When Rolls-Royce released their chinese edition car, it sold quickly. This drove the price of the car even though the price of the car was higher than other cars.
Word of Mouth Marketing:
It is passing of information from one person to the other orally. When someone likes your line, they share it with their friends and family. This in turn will increase your sales.
Cult Brand Marketers often find a way to keep their products on a consumer’s mind. Each time a product is released, the customer has to dream about the product released and share it with their friends and family, social networking sites etc. Getting your consumers talk about your brand is very important to grow a business.
Communicating to non-targets
“part of the value of owning a luxury good is the quality craftsmanship of the product, but another necessary part is the recognition by non-owners. This is why Aston Martin, although a very small brand, used product placement in the blockbuster James Bond movies – so that everyone in the streets could recognize one, thus endowing the driver with admiration” – www.brandingstrategyinsider.com
3. Sales Strategy
The first is way is followed by almost all the brands. Giving a customer a discount when they sign up for a news letter.
The second strategy is that the presumed price of your product should always be higher than the actual price. This can be achieved by branding.
The third way is to organize trunk shows where a lot of people within your target market are invited to have a look at the collection even before the public gets a chance to look at it.
Ready to wear collection can be made available at select high end store like Saks fifth avenue, Lord and Taylor etc.
4. Pricing Strategy
Since it’s a couture ready to wear line, I would like to start out with competitive prices similar to the brands available in stores like Sak’s fifth avenue, net-a porter, pret-a-porter etc.
Designer: Oscar De la Renta
My brand would compete with brands like Oscar de la renta, Givenchy, Prada, Christian Louboutin, Gucci, Saint Laurent etc. I intend to compete with such brands by creating unique, one of a kind designs in swoon worth color combinations.