Now that my sunglasses have been designed and packaged I am going to think about how to market them, including their life cycle, the 4 P's, their market level, target customer, sustainabilty etc.
4 P's
PRODUCT/STYLE/FUNCTION - The product is obviously a pair of sunglasses designed and sold exlcusively at MAC. The style of the sunglasses is quite classic, simple black rims, with a gold logo printed on the side. The sunglasses will be both fashionable and have a function, to obviously protect people's eyes on sunny days.
PLACE - The sunglasses will be sold at MAC stores and concessions such as the store in the Metquarter in Liverpool, and the MAC concession in Selfridges in Manchester.
Customers will also be able to buy the sunglasses online.
PRICE - After completing my market research and looking at potential competitors of my MAC sunglasses, I have decided that my sunglasses will be priced at £49.99. I think this price is definately reasonable, as the glasses will be made of quality plastic, and the price fits in with MAC's respected brand name and usual pricing.
PROMOTION - MAC generally don't do much promotion, so I will promote via the same methods; word of mouth and at exclusive A-List events.
However as this is a new product for a new market at MAC, promotion in stores could proove successful. This would involve upselling by the staff members, as well as small flyers placed around the counters of stores.
MARKET LEVEL
The market level of the sunglasses will fit in with the same as the brand as a whole, Middle to High market level.
TARGET CUSTOMER
The target customer of my sunglasses will be women aged 18 - 40. A slightly wider age range from MAC's usual 18 - 30 age range, as I believe sunglasses can be worn by women of any age. Customers who go into the stores who may be younger than the 40 mark, could even be buying the sunglasses as a customer however they may not be the consumer, as the glasses could be a gift which is why I have extended the target age from 30 to 40.
PRODUCT LIFE CYCLE
Sunglasses can be bought all year round but are more popular during the summer season. In order to encourage sales, my product will be available all year round, however during the winter season will only be available online, as it is not usual to find sunglasses in a store during winter.
I expect the product to have a long life cycle as they have a classic look. As time goes on however the product could be developed with different colours or shapes to keep customers interested.
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