marketing- due in 3 hours
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finall_1.docx( Akif ) ( ASSIGNMENT [Type the document subtitle] )
A. List of features of the T-shirt
· Reflective light
· Anti cutting or dirt
· No sweating
· Perfect fit
· Thick buttons
· Removable collars
· Wrinkle free
· 100% cotton material
Perfect Stitch-The all new T-shirts are not just 100%cotton made and perfectly stitch but also are sweat free, anti cut and dirt and also allow reflection of light. It has all that one ever wants in a T-shirt and that too at very reasonable price. So grab your T-shirts from our nearest store outlets!!
B.1. What is the relative advantage over competition – what makes it different?
Perfect stitch T-shirts, perfectly stitch, sweat free, anti cut or dirt are also light reflective. Our competitors cannot much the quality of T-shirts and that to at a price cheaper than them .So our relative advantage is good quality, that are our competitors cannot match at a cheaper rate.
B.2 Compatibility of product – can it be used in conjunction with other product?
Perfect Stitch’s T shirts are not just high quality but also very well designed keeping the latest fashions trends in mind. One can easily wear it with nice pair of jeans and some accessories and can go to lunches, dinners or even parties wearing it. (Dishman, 2013)
B.3. Complexity of the product – how difficult is it to use or consume? Difficult? H/M/L?
Our T shirts are very not at all difficult to use. So we can say it s difficulty level is low. As, we use high quality material which is also sweat free and also are shirts are also wrinkle free and anti dirt, so our customers will do not even have get into the hassle of washing it again and again.
B.4Ease of trial – how will people find out about your product? Easy? Difficult? H/M/L?
Perfect Stitch will advertise through magazines, bill boards and will run advertisements on radio channels .Furthermore we will distribute our samples shirts in schools and universities. Also our website will provide full details information about our products, customers can visit there and get the information and can even place ordered there if they want to. So, finding out our products will be easy.
C. Indicate any major problems or resistance to your products acceptance based on the analysis completed in item B above.
As we are offering the same quality and that too at a cheaper rate it would be little hard to convince customers that we are not saying it but our quality is actually good. Because of consumers usually have this perspective that if a product is of good quality it would be expensive because if the seller is providing something extraordinary then he would definitely charge additional. (Wong, 2012)
D.1. How is the product category defined? Indicate the industry category and the Standard Industrial Classification.
Are product category involves all tyoes of T shirts; Crew Necks, V Necks, Sqaure Neck, Henely and tan tops. The industry category is garment industry and the Standard industrial classification is 322.
D.2. What is the estimated rate of growth for the product category?
The industry estimate growth rate 2014 is 2.1%.
D.3 How easy is it for a new competitor to enter the market? Explain
There is no barrier to entry in the garment industry as such. Specially for of product category there is no as such capital or technology involves and plus customers are willing to buy new firms products if it has great design and affordable price. So anyone why is capable of producing great designs and affordable price can easily enter the market. (Rivoli, 2009)
D.4. Do substitutes exist for your product? If so, identify the product and companies.
No there are not as such substitutes for T shirts .They cannot be replaced by shirts because shirts are used for formal purposes and are not casual wear.
D.5 How will you position your product relative to competitors?
We will go for the competitive pricing strategy. We will provide better quality at cheaper price.
E. 1. Who are the major competing brands in your market?
Our competitors are American T-shirt Company, American Apparel and polo.
Tagline
Nothing less than Perfection
F.Package Design
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References
Dishman, L. (2013). How Two Companies Partnered To Turn Design-On-Demand Into High
Growth Retail. Retrieved from http://www.forbes.com/sites/lydiadishman/2013/10/18/how-two-companies-partnered-to-turn-design-on-demand-into-high-growth-retail/
Rivoli, P. (2009). The Travels of a T-Shirt in the Global Economy: An Economist Examines the
Markets, Power and Politics of the World Trade. Wiley; NY
Wong, V. (2012). Garbage Fashion: T-Shirts Made From Recycled Bottles. Retrieved from
http://www.businessweek.com/articles/2012-03-20/garbage-fashion-t-shirts-made-from-recycled-bottles
