[aeromech]

Hi,

I intend to launch a leather accessories brand, the brand name and logo are ready. I put a few stuff for sale at the boutiques around which got picked up faster than the ones in the store. A few things which hit me now are;

1. how to decide upon the perfect price to sell? coz a few people did approach me and suggested me to reduce the price. ( but that was before the branding, would that matter?)
2. What would be the most cost effective way to promote a brand and is advertising all that important in today's world, what would be an alternative for Small scale entreprises than the conventional ways(TV, print etc)?
3. Is it the best marketing policy to have your products available at as many outlets as possible?
4. What is most optimal way to enter a foreign market?

Just for to add more to the info. my products are unconventional and can easily be distinguished from those existing in the market and most of the younger crowd are usually attracted to my product design than the conventional ones.

[ltressel]

Originally Posted by aeromech

Hi,

I intend to launch a leather accessories brand, the brand name and logo are ready. I put a few stuff for sale at the boutiques around which got picked up faster than the ones in the store. A few things which hit me now are;

1. how to decide upon the perfect price to sell? coz a few people did approach me and suggested me to reduce the price. ( but that was before the branding, would that matter?)
2. What would be the most cost effective way to promote a brand and is advertising all that important in today's world, what would be an alternative for Small scale entreprises than the conventional ways(TV, print etc)?
3. Is it the best marketing policy to have your products available at as many outlets as possible?
4. What is most optimal way to enter a foreign market?

Just for to add more to the info. my products are unconventional and can easily be distinguished from those existing in the market and most of the younger crowd are usually attracted to my product design than the conventional ones.

Answers:

1) Pricing is set after you have done your survey. Have you looked at the price comparison of your product and the ones similar to yours? It will also boil down as to how far you can push the envelope and what people are willing to pay for it.

2) If you want branding to be effective, you would have to go the route of print, tv, internet, billboards, etc. The more exposure, to the logo and brand, the more you strengthen your presence and dominance.

3) It depends on you on how you want to establish your product to be perceived as. If you do exclusive outlets to high end stores-you can establish the higher pricing that you want. Of course, you need to also have the high end quality.

You can mass release the product to different stores and give you more exposure.

4) Foreign markets-good question. I will leave that to the others to share their inputs.


LT

[Cole Taylor]

Aero:

I suggest you go down to a bookstore and pick up a marketing book. I'd further reccomend that you stay away from books containing all the latest buzzwords/jargon that are theory based. What we need right now is 1+1=2.

In fact, go to a local college and pick up a marketing 101 textbook. What your looking for is information on the marketing mix. Your questions are centered around how to best position your product. The marketing mix consists of: Product, Price, Promotion, and Place (the 4Ps).

Ltressel gave you great information and the point that should be taken from it is that the answer to all of your questions depends on perception. Perception is something you create by properly positioning your offering.

[john82]

If you're targeting younger try out facebook, myspace, and check their classified section too. I hope it would work nice.

[Josephian]

magazine ads imo work best

[deep_impression777]

In foreign markets, establish a fim brand identity first. Keep in tabs with its market, its trends and needs. Speaking the language is also good.