Product
The product is a premium saree, including specific features and attributes that cater to customer needs and preferences.
- Material and Design:
- Saree: Made of Glass Tissue Silk, known for its delicate and sheer quality, providing a luxurious feel and sophisticated look. It is enhanced with sequins work and a stitched border, adding elegance and a festive appeal.
- Unique Details: The saree features unique latkans (decorative tassels), adding an extra element of style and distinction.
- Blouse: Comes with a brocade blouse, a fabric known for its rich, textured patterns, complementing the saree’s luxurious look.
- Customization: Available in five colors, offering customers the flexibility to choose based on personal preference and occasion.
Competitor Considerations:
- Product Differentiation: Compare the unique elements of your saree (such as the Glass Tissue Silk material and the latkans) with those of competitors. Highlight these distinctive features in marketing materials.
- Quality and Craftsmanship: Ensure that the quality of your materials and the intricacy of the sequins work are superior or at least comparable to competitors. This can justify the premium positioning.
- Customer Preferences: Consider the latest trends and preferences in saree fashion. Offering a range of colors aligns well with current market trends, as it caters to diverse customer tastes.
Price
Pricing strategies must reflect the value offered by the product and consider the competitive landscape.
- Per Pc Price: The saree is priced at ₹2750, positioning it in a premium segment within the market.
- Value Perception: The price reflects the high-quality materials (Glass Tissue Silk and Brocade) and the intricate workmanship (sequins work and latkans). Customers are likely to perceive this as a good value for a luxurious and well-crafted saree.
Competitor Considerations:
- Market Pricing Analysis: Evaluate the pricing of similar sarees from competitors. If your price is higher, ensure that the additional value (in terms of material quality and design uniqueness) is clearly communicated to potential customers.
- Discounts and Offers: Assess how competitors use pricing strategies such as discounts or bundles. Determine if occasional promotions could enhance your competitive positioning without devaluing the product.
- Segment Alignment: Align your pricing strategy with your target market segment. For premium products, ensure the pricing supports a perception of exclusivity and high quality.