Pricing Price is what a buyer must give up to obtain a product and this is the most flexible element of all the Ps of marketing mix strategy which can be changed quickly to suit the changing market demand (Lamb, Hair and McDaniel, 2011). Target costing may prove advantageous as the market needs to expand and this strategy would help in offering the products to lower end of the market with an entry level offering by managing technology with the changing needs of the consumers. Price bundling strategy might with UGGs as the brand is launching new products in menswear, slippers, etc which can be packaged and offered at premium price (Kumar, 2007).
Factors contributing pricing strategy
Size
• The market for footwear is around US$113.6 billion …show more content…
The expenditure on advertising amounted to £174000 in the UK as compared to £428,000 by Timberland. It is further noted that consumer brand loyalty, target UGG for Men campaign, targeted marketing, high end distribution, adoption by high profile celebrities like Oprah Winfrey, Jennifer Lopez, etc., increased media attention through opinion surveys like MSN, increased exposure of brand through concept stores and continued expansion of worldwide retail through UGG Australia stores and shop in shop program have increased brand awareness in the market about the luxurious comfort offered by UGG Boots (Deckers, …show more content…
Despite negative publicity from various sections of the society, the marketing strategy should aim at delivering quality boots conforming to the characteristics of latest fashion, style and flaunting the attributes of luxury through excellence in art and craft. The main strategy is about generating content on social media so as to generate brand awareness and information on fake brands. While UGG is expanding to new markets, it is necessary to identify various socio-cultural barriers so as to develop marketing strategy and identify strategic locations to open concept stores to boost sales. While process of delivering the product globally is complex, information regarding stock inventory could help in assessing various market factors and to devise the marketing plan according to standardisation or adaptation of the
Factors contributing pricing strategy
Size
• The market for footwear is around US$113.6 billion …show more content…
The expenditure on advertising amounted to £174000 in the UK as compared to £428,000 by Timberland. It is further noted that consumer brand loyalty, target UGG for Men campaign, targeted marketing, high end distribution, adoption by high profile celebrities like Oprah Winfrey, Jennifer Lopez, etc., increased media attention through opinion surveys like MSN, increased exposure of brand through concept stores and continued expansion of worldwide retail through UGG Australia stores and shop in shop program have increased brand awareness in the market about the luxurious comfort offered by UGG Boots (Deckers, …show more content…
Despite negative publicity from various sections of the society, the marketing strategy should aim at delivering quality boots conforming to the characteristics of latest fashion, style and flaunting the attributes of luxury through excellence in art and craft. The main strategy is about generating content on social media so as to generate brand awareness and information on fake brands. While UGG is expanding to new markets, it is necessary to identify various socio-cultural barriers so as to develop marketing strategy and identify strategic locations to open concept stores to boost sales. While process of delivering the product globally is complex, information regarding stock inventory could help in assessing various market factors and to devise the marketing plan according to standardisation or adaptation of the