Marketing Strategy: Launching Leviathan Women's Fashion Accessories

This report outlines a marketing strategy for the launch of Leviathan fashion accessories for women. It details the process of establishing a target market of fashion-conscious women, positioning the brand as high-quality, and employing demographic and psychographic segmentation strategies to reach professional women and those in high society. The report also assesses marketing mix strategies, emphasizing product quality and durability, exclusive distribution channels (own stores and e-commerce platforms), neutral pricing aligned with similar brands, and a promotional mix including television, print media, public relations, sponsorships, and social media engagement to create brand identity and recall. The proposed marketing strategy aims to guide Leviathan in achieving a successful product launch by creating brand awareness and generating demand among its target customer base.

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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better quality produces (Baines, 2013). Leviathan can position its women fashion
accessory products having high quality for fashion conscious women. This can be done
through use of appropriate promotional strategies like use of advertising and public
relations.
Segmentation strategies
Segmentation is a marketing strategy through which a company divides the target
customers into groups based on certain similarities as perceived by the company
(Baker, 2012). There are various types of segmentation strategies that can be utilised
by Leviathan to properly target its target market for the new product.
Demographic segmentation- Under this segmentation a company divides its target
market based on age, gender, family size or income (Boone, 2011). Leviathan can use
demographic segmentation to target professional women of middle and high income
group. It can design a range of fashion accessories suitable for working women as well
as party going high society women.
Life style or psychographic segmentation- Under this segmentation customers are
grouped based on their personality and lifestyle (Baines, 2013). Leviathan can target
women who are highly fashion conscious and move in high society party circle. It can
also target professional women who consider fashion accessories as a necessary part
of their image and personality.
Therefore, through these two segmentation strategies Leviathan can easily target its
customers. It can also create a market by invoking a sense of fashion consciousness
among women customers.
Marketing Mix strategies for Leviathan fashion accessories
Marketing mix strategies are a set of tools used by a company to realise its marketing
goals (Kotler, 2012). Marketing mix strategies contain four set of specific dictions which
the firm takes regarding the product (Baker, 2012). These are product, place, price and
promotions. These four decisions are very important for the launch of any new product
(Rosanna, 2014). Hence, Leviathan needs to take these decisions with caution and care
in order to launch its fashion accessories.
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Following is an assessment of marketing mix strategies for Leviathan Fashion
Accessories for Women.
Product- Product is the basic offering of the company which it gives to the customer
(Baker M. J., 2014). Product is considered to be the most important decision taken by
the firm. Product offers the core value which satisfies a certain need of the customer
(Armstrong, 2012). Product should only be launched after need assessment of the
customer.
Leviathan fashion accessories have been designed for launch after market survey.
Such surveys reveal the need for quality fashion accessories like hand bags and
fashionable imitation jewellery for professional and high society women. Therefore, the
product launched by Leviathan constitutes of women fashion accessories like
handbags, fashion earrings, bracelets and necklaces. The most important feature of the
product is its high quality and durability along with fashionable look.
Place- place or distribution medium is the channel through which a company distributes
its products (Armstrong, 2012). Place should be accessible by the target market
(Baines, 2013). The design and choice of place is based on the type of target market
and the stores that they are most likely to visit (Baines, 2013). There are various
distribution strategies which can be used by Leviathan. These are:
Intensive distribution- through this method a firm sells through many retail outlets. The
firm tries to penetrate the mass market through this channel. This strategy is suitable for
fast moving consumer items (Jaworski, 2018). As leviathan fashion accessories are
high quality and are for women of specific categories like fashion conscious high society
or professional women, this strategy will not suit Leviathan.
Exclusive distribution- Under this method a firm uses a few distribution channels to
sell its products (Baker M. , 2012). Products are sold through exclusive outlets to
specific type of customers. Leviathan can use exclusive distribution and can sell
thorough its own outlets. As the product is of high quality and for middle to high income
group, its brand equity will be maintained if it is sold through selected stores.
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In addition to own stores the firm can also use online distribution channels through
ecommerce platforms (Charlesworth, 2011). Leviathan can sell its fashion accessories
through its own websites or it can also use online retail stores like Amazon and eBay.
Price- Price is the amount that the customer is ready to pay for the product (Armstrong,
2012). The price should be perceived by the customer as genuine. Finding the right
balance for price is very important (Baines, 2013). Sometimes if a product is prices too
low it gets perceived as cheap and if it is priced high then it becomes unaffordable.
Pricing can help create the right perception of the product in the customer’s mind
(Armstrong, 2012). Price can make a product to be perceived as a mass product or a
class product. A firm should base pricing strategy on the customer’s perceived value of
the product and its manufacturing cost (Armstrong, 2012). There are various pricing
strategies that can be used by Leviathan.
One of the most widely used pricing for products in the introductory stage is penetrative
pricing (Baines, 2013). Under this pricing strategy the price of the product is kept low
during the introduction stage so that the product reaches a mass audience (Armstrong,
2012). On the other hand skimming pricing is a strategy where price is kept high initially
so that high income group adapts first to the product. Then the price is lowered so that
other people, who aspire to have high end products, also start buying it (Armstrong,
2012). Neutral pricing is a strategy where the price is kept at par with market levels that
is price is similar to competitors price (Armstrong, 2012). This is a balanced method
through which the firms avoid risk.
As Leviathan is launching the product for high end customers it should adopt neutral
pricing strategy where it keeps the price at par with similar fashion accessary brands.
Pricing should be slightly on the higher side so that it gets perceived as a quality and a
high end product.
Promotions- Promotions include the combined marketing communication strategies
that are used by a company to communicate its product to the customer (Blakeman,
2014). There are various communication methods that can be used by Leviathan for its
new fashion accessories product range like advertising, publicity, sales promotion,
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sponsorships and social media (Kemme, 2018), Most firms use a combination of
communication methods to reach the target customer (Baines, 2013). This combination
is called communication mix.
Choice of communication mix is based on a number of criteria. These include the
budget of the communication initiative, the target audience and the reach and duration
of the campaign (Blakeman, 2014). Additionally, it is also important to decide the
various media to be used for the campaign.
As Leviathan fashion accessories are targeted at professional women of middle income
group and high society women it will be advisable to advertise the fashion accessories
on television, print and social media.
Following is a media plan for communication mix for new fashion accessories of
Leviathan
Media Plan for New Product Launch
Media
Selected
Method Reach Frequency Budget In Australian
Dollars
Television
Advertisement
4 major
entertainment
and fashion
oriented
channels
Countrywide Seven times a
day daring
prime time for
next 1 year
$200,000
Print media Full page
coloured ad in 2
major women
and fashion
magazines
Countrywide Once a month
for next one
year
$80,000
Public relations Press release,
newsletters and
mails sent to
customers.
Countrywide Weekly $30,000
Sponsorships Sponsoring 2
fashion event
within next one
Countrywide Twice a year $300,000
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year
Social media Engaging
customers in
discussion over
Twitter and
Facebook
Countrywide Daily $60,000
Total $6,70,000
Table1 Source: Made by Author (2018) Adapted from (Blakeman, 2014)
Through the use of the above media mix Leviathan can create an image of quality
fashion accessories brand. Through advertisements the firm can continuously remind
the customers about its product. It can also position itself as a quality fashion
accessories brand through these media initiatives. Social media will help in creating
feedback and review mechanism for the brand. Through sponsorships the company can
catch mass attention and generate mass appeal. Print Ads in fashion magazine will help
create an image of high end fashion accessories.
Therefore, a combination of well thought out communication mix strategies can help in
creating brand identity and frequent brand recall for the company and its new product.
Conclusion
Well planned marketing strategy helps in creating a proper direction for a new product
launch. A new product cannot be launched without strategising about the target market
segmentation and marketing mix. Positioning and segmentation strategies can assist a
firm in creating proper brand awareness for the product. Leviathan will greatly benefit in
its new product launch if it strategies its marketing plan properly,
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References
Armstrong, G. (2012). Marketing: An Introduction. New Delhi: Pearson Education.
Baines, P. (2013). Essentials of Marketing. Oxford: Oxford University Press .
Baker, M. (2012). The Marketing Book. New Jersy: Routledge.
Baker, M. J. (2014). Marketing Strategy and Management. London: Macmillan
International Higher Education.
Blakeman, R. (2014). Integrated Marketing Communication: Creative Strategy from Idea
to Implementation. Plymoth: Rowman & Littlefield.
Boone, L. (2011). Contemporary Marketing. New York: Cengage Learning.
Charlesworth, A. (2011). Internet Marketing: a practical approach. New York:
Routledge.
Czinkota, M. (2014). International Marketing. London: Cengage Learning.
Ferrel, O. (2012). Marketing Strategy. New York: Cengage Learning.
Jaworski, B. (2018). Commentary: Advancing marketing strategy in the marketing
discipline and beyond. 34(1), 63-70.
Kemme, V. (2018). Strategic Integrated Marketing Communication: Critical Evaluation of
Current Integrated Marketing Communications Practice at the example of
Lufthansa. Munich: GRIN Verlag.
Kotler, P. (2012). Marketing Management. Essex: Pearson Education.
Levianthan. (2018, June 5). Home. Retrieved from Levianthan:
https://www.leviathan13.com
Rosanna, G. (2014). Creating and Marketing New Products and Services. Boca Raton:
CRC Press.
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Sood. (2017). Strategic Marketing Management and Tactics in the Service Industry.
Harshey: ICI Global.
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