Do you think a market segment can be found that will be responsive to the concept of leisure suits?
Yes, a market group can be found that will be responsive to the idea of leisure suits. Any, if not all products or services that are produced have a potential buyer (market). It is up to the people producing the item or service to seek out their target buyers or customer and cater the product to their needs. The idea of a suit that can be washed instead of dry-cleaned was not eagerly accepted initially, especially by the typical upper class executive who is trying to maintain a prestigious look.
Product, one of the 4P’s is defined by concept: Washable Suit. After you pick a strategy and tell your readers the strategy you have chosen, explain the ways in which the manufacturers of washable suits can use the other 3P’s of the marketing mix to implement that strategy.
The strategy that I have chosen is target marketing.
The Product: Washable Suits.
The washable suit is as its name suggest, is a suit that can be washed and dried right in the comforts of your own home. For most, this is economical and convenient; it has taken away the stigma that was clouding over traditional suits for years. They were categorized as an inconvenience because of having to go back and forth to the dry-cleaners. This washable suit, made from a combination of wool, polyester, and lycra looks no different from the non-washable ones; it holds its shape and its style.
The Price:
In order to come up with a price, you must take into consideration what it cost to make the item, the materials, the labor, the machinery ect. You also have to consider the short term and long-term sales and profit goals. If the manufacturing costs re high to begin wi ...