Marketing Strategy for New Product Launch: Leviathan Fashion Accessories for Women

Marketing Strategy for New Product
Launch
Leviathan Fashion Accessories for Women
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Contents
Introduction...................................................................................................................... 3
Marketing strategy for Leviathan Women Fashion Accessories......................................3
Establishing the target market......................................................................................3
Positioning strategy...................................................................................................... 3
Segmentation strategies...............................................................................................4
Marketing Mix strategies for Leviathan fashion accessories........................................4
Conclusion....................................................................................................................... 8
References.......................................................................................................................9
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Introduction
All business organisations want to expand their customer base and market size in order
to increase revenue (Armstrong, 2012). One way in which organisations do so is
through launch of new products (Czinkota, 2014). Product launch is a process which is
undertaken only after research and market survey about the receptivity of a product
(Rosanna, 2014). Product launch is accompanied by marketing activities which are
undertaken as per marketing strategy. This is done so that the product is received well
by the customer (Ferrel, 2012). Leviathan is an Australian fashion and clothing brand
headquartered at Perth (Levianthan, 2018). It specialises in men and women clothing.
The following assignment tries to formulate marketing strategies for the launch of a new
hypothetical product; Leviathan fashion accessories for women.
Marketing strategy for Leviathan Women Fashion Accessories
Marketing strategies are systematically planned marketing actions taken by a company
with regard to a product in order to achieve a stipulated marketing goal such as
attaining more market share or generating more sales revenue (Jaworski, 2018).
Leviathan intends to find customers and market for its new product Leviathan Fashion
Accessories. Following are the strategies that it needs to undertake for the purpose.
Establishing the target market
Target market consists of the end customer to whom the company intends to sell the
product (Kotler, 2012). Target market for Leviathan fashion accessories would be
women who are fashion conscious and intend to make a mark through their personal
appeal.
Positioning strategy
Positioning is the image which the customer perceives regarding the company or the
product (Sood, 2017). There are various positioning strategies that can be used by the
firm. In a cost positioning strategy, the company is perceived as providing the products
at lower price hence giving cost advantage to the customer (Armstrong, 2012). On the
other hand, in quality positioning strategy, company creates an image of providing
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