Marketing Plan: Phase III - Levi Strauss

Marketing Plan: Phase Three

Levi Strauss offers a product to their consumers that will allow them to dress themselves in comfort. This new product will be marketed as an opportunity for the consumers to put their own designing touch to use. Phase three of the marketing plan will show the attributes of the service in detail. This phase of the marketing plan will show how the service will move through the product life cycle and the different factors that will affect that movement. The product cycle of Levi Strauss's service will have an effect on the marketing plan, which will also be discussed. Because of these effects, there will need to be a plan for the positioning and differentiation strategies of the service. The last portion of the discussion for phase three is to identify the appropriate price strategy for the service that Levi Strauss is offering to their consumers.

Attributes of the Service

The product Levi's has designed will be desirable by both a male and female audience. The jeans will be offered in a traditional denim color, red, black, brown, white, and navy. Each pair of jeans will include an accessory that can be easily applied like a decal to the jeans if desired. This accessory will come in the form of patches, rhinestones, zippers, simulated tears, and buttons. Another accessory Levi will try out is a jean extender and shortener. This product will be able to be applied to the bottom of the jean to either give it the appearance that it is longer or shorter. This accessory will come in all available colors. The men's line will come with zippers, simulated tears, and colored patches. The women's line will come with items with a more feminine appeal. Each pair of jeans sold will include two accessories. The other accessories will be displayed next to where the jeans are so that the customer may have more options to choose from.

The new product will come in sizes for misses, women, boys, and men. The reasoning behind this is that our target market is students between the ages of 15-25. This can be a broad spectrum of sizes. The jeans will come in petite, average, and tall lengths. The jean was designed as wash and wear so with that in mind Levi's ran test to make sure that it would not shrink if the consumer decided to put it in the dryer. The accessories are safe to be washed and dried in case the he or she forgets to remove them from the jeans.

Product Life Cycle

A product's life cycle has four stages. These stages represent the birth of an idea to the ending of the product. The four stages are: market introduction, market growth, market maturity, and sales decline (Perreault & Cannon, 2009).

Market Introduction

Market introduction represents the stage at which the product inters the market. An imagery representation of this stage is the bottom or starting point of a triangle. In this stage, companies are focusing on product advertising. They are informing the public of a new product. At this stage, it is likely that sales are low as customers become acquainted with the product.

Market Growth

Market growth represents the stage after the product has been introduced. This represents the left side of a triangle rising to the top of the triangle. Customers understand the purpose and uses of the product had have determined a use for the product. As customers begin purchasing the product, sales increase. Competitors make notice of such success and begin to make similar products for sale. With the increase in competition, sales are likely to fall as more options become available.

Market Maturity

Market maturity is considered the downward decline of a product. This stage is the right side of a triangle when the product is declining. Most customers that will use the product have made his or her purchases; he or she may not be willing to make more of the purchases until necessary. Sales do not completely stop as customers consider more options of the product such as its color or style. The more a product is used, the sooner it may need to be replaced that will contribute to more sales.

Sales Decline

Sales decline is the ending of the current product and beginning of a newer product. This stage represents the bottom of the triangle. Companies are not marketing the product with the same strategy as they began. When the product is near its demise, more aggressive marketing attempts are on the new products as the current product phases out.

Designer Jeans and its Life Cycle

Life Cycle

The time between market introduction and market growth are relatively short as shopping for new clothing is done throughout the year. Even if companies have missed the product's marketing efforts, he or she is likely to become acquainted with the product through someone else wearing the product or when shopping for other clothing. The market is good for new designer jeans because clothing wears that prompt the consumer to buy more over time. The designer jean itself may last for years because of the different style possibilities. Therefore, it can take a prolonged period before the product matures and starts to decline.

Positioning and Differentiation Strategy

Positioning

The Levi's Company is already well positioned in the marketplace and well-known for the clothing they offer. A current positioning strategy must be implemented as the company's current position does not guarantee success in the future. The parameters that Levi's will concentrate are accessibility, exclusivity, long-lasting, and trendy. They were to position their designer jeans as meaning accessible in terms of size, style, reach, and price. Exclusive meaning classy and chic, long-lasting in wear and a design that is always in style and trendy with a fashionable look and in vogue. A positioning statement can be delivered to relay the essence of the product at once. The example may provide a statement such as "For the capricious style-conscious dresser who are in between playful fashion & boring basics, Levi's is a brand of designer