Identify an existing start-up business/ new venture and assess their product/ service and pricing strategies. Product/...

Identify an existing start-up business/ new venture and assess their product/ service and pricing strategies. Product/ Service Strategy: The uniqueness of Product/ Services What value the product offer to consumers? Assess the appropriateness of the product to the chosen target market.

Product/ Service Strategy: The uniqueness of Product/ Services What value the product offer to consumers? Assess the appropriateness of the product to the chosen target market Pricing Strategy Identify the pricing strategy and assess the appropriateness of the strategy to the chosen target market.

Expert Solution

Answer:

Start up is ethical clothing brand Called SAMAR.It came up with variety of ethnic wear for two categories namely Men and Women.

Segment:Men, women who want to buy Ethnic Wear

Target Group: Semi urban upper and middle class families

Positioning: Economical ethnic wear

USP:Affordable Ethnic Wear

It is Unisex brand targeting the needs of Men as well as Women under one roof. Effective marketing on social media with campaigns like Ethnic closet. Presence in area which is known as the cultural hub.Strong product mix which includes mix-match and unstitched fabrics. No competitor brands in area.Promotion of the ethnic wear brand in all cultural events which are celebrated on the larger scale in the city.Can tap new forms of retailing like online stores to cater to a larger customer base.Targeting the Tier 2 and 3 cities.

Contemporary ethnic fashion at affordable price is “SAMAR” commitment to fashion enthusiasts.SAMAR” has categorized its products into two basic segments.The Indian customer has a more “value for money inclination” and is often pulled towards the lowest prices. It is important when deciding on price to be fully aware of the brand and its integrity

1. Basic value product: with price range 499 Rupees. This category targets mainly the lower income group and gives standard products at medium prices.

2. Premium value product: with price range 1000 Rupees and caters to medium income group segments.

keosha answered 1 year ago

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