Marketing a Sustainable Competitive Advantage: CUSTOMIZED VINTAGE PRODUCTS EQUAL PROFITABLITY
Given that marketing is the craft of linking the producers of a product with customers, I know that the creative art of Personalized Vintage Purses will prove to be a success. This blockbuster product will be individual, one of a kind, and custom-made purses and bags designed to complement a womanÆs specific wardrobe style and taste. These expressive purses will use the influences of graffiti, hip hop, punk, high fashion accessories, pop culture, and retro style to provide awaiting customers with wearable art. When marketing this product, I may face a variety of problems including pricing, promotions, and placing location. Despite these three marketing problem, my marketing plan which will solve each problem, reflect the desires of consumers and the target market, and guarantees profitability and sustainable competitive advantage.
Although the creative Personalized Vintage Purses will blend fashion, function, durability, and comfort, I face a variety of marketing problems including pricing, promotions, and place of sale. The first problem is setting a price for the product, which will be solved by balancing the issues of production, overhead, profit, and a realistic cost for the consumer. This includes determining operating costs in order to designate the proper retail price of the product, but continue to maintain a profit (Montana & Charnov, 2000). For example, the cost to make the product would be a total of ten dollars, including the vintage purse, spray paint, and home-made stencils. The overhead expenses would be the contracted ôlegally enforceable agreement of sale,ö (Emerson, 2004, p. 75), charged to retail stores to sell this product, which would equate to the amount of ten dollars. Thus, the customerÆs accommodated cost would be forty dollars per purse, which would amount to a twenty dollar projected profit, ô...