Now that I have my finished design for my handbag, I am going to consider how I will market the product and how it will be priced etc.
4 P's
PRODUCT/STYLE/FUNCTION - The product is a black MAC handbag. The style of the bag is a large satchel made of a black Mock Croc material with dipped gold buckles.
The bags function is to provide a suitable bag for MAC customers old and new to carry around their possessions including their other MAC make up products, safely and fashionably.
PLACE - The bags will be sold in store and online. Those sold in store will be on a small stand as to not take up too much room in the shop, as MAC stores tend not to be huge. The majority of sales will come from online buyers.
PRICE - I have decided a suitable price for the handbag would be £79.00
This price sits the bag in well with its competitors such as Topshop and Zara, and is also an affordable price for MAC customers.
PROMOTION - Similarly to all the products I have created, the product will be promoted via word of mouth and A-list events.
With this product being big, in store advertising is less essential than it is for the smaller items like the bracelet and sunglasses, as with the bag, customers will notice it as soon as they walk in the store.
The bags originally will be positioned by the shop window so customers passing by will notice them.
MARKET LEVEL
Middle to High Market Level.
TARGET CUSTOMER
The target customer for the handbag is the same as the whole brand. Women aged 18-30. I think this is a suitable age bracket for the style of the bag, which is both trendy, stylish and fashionable.
PRODUCT LIFE CYCLE
The handbag is to be launched with the other products in Spring Summer 2013. However I think the bag will be an all year round product. Black handbags are classic so can be used any time of the year. Also with the bags style being pretty simple and classic, it means it won't go out of fashion like some unusual designs that exist as FADS. I anticipate this product to be a FASHION item.
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