Mr.Ramesh of Unique Indstris is contemplating to entr the men top end shrts categry. The cmpny alrdy has abrand CLINGERS in the middle segmentThe brand is very popular amongst the target audience. Having got the volums, He now wants to play the value game & enter the top end category.. But there are certain advntgs which Unique Indstry enjoys.It has one of the best retail networks in the country. They have their own fctory, which ensure regular quality sply. They are pioners of brnded shrts in India. He has decided to keep the brnd nam as ClingersGold. He has decided toallocate 10cr. for sales promotion&advtising budget. Unique Industries is simultneosly entering the redymde trousers mrkt & shoes mrkt.He has decided to keep the same brand name CLINGERS to leverage the success of the brand name to the two new catgries. a.Do u think the brand name Clingers Gold is right for the top end sgment?Justify ur ans.b.Which factors u think needs to be studied before making such entry in the markt?
a. Clingers Gold is a common name in the market. Stakeholders relate with the brand name and are able to identify products and services. Introducing both categories under the brand is the most effective strategy for the company. The name attracts a significant market share. It is easier for the company to market the categories to current stakeholders and new markets.
b. A SWOT analysis should be employed to understand the nature of market in regards to these products and the positioning of the company. As a whole, research and development should be carried out regarding the demand for these products, costs of production, competition and how to add value to stakeholders.