Starlight Moon has to decide whether to :
- create a product and then market it to target customers ( product-oriented )
- find out what the market wants and then provide it ( market-orientated )
To achieve both , the company produces a wide product range that appeals to all its target market segments . The range includes casual clothes , formal wear , denim , footwear and lifestyle accessories such as watches , handbags , belts and fragrances for women only :)
Price
Starlight Moon has to assess which markets its products are aimed at and set a price to match . There are a number of pricing strategies that a business can use for its products including:
- cost based pricing where the selling price is set to cover the cost of manufacture.
- the market orientated pricing .
The price of a product relates to its perceived value . Lower priced items will expect a higher volumes of sales , whilst fewer sales of luxury products may achieve the same revenue through higher pricing .
Starlight Moon produces mostly medium-price range products .
Place
This refers both to the places where Starlight Moo products may be bought ad to the channel of distribution used to deliver the products to these places .
Starlight Moon works in close partnership with department stores , creating 'shop-in-shops' a unique concept where the customer feels that they are in a Starlight Moon store .
Starlight Moon also has its own stores around the world and opens new ones each year . It has a long term commitment to expanding globally . Although the stores represent a big investment , they are important to the company in controlling its own sales environment and increasing profit .
Starlight Moon also uses newer channels of distribution . It relaunched its website starlightmoonboutique.blogspot.com in February 2007 to provide a more interactive experience for customers to encourage them to spend more time on the site and shop :
- The site provides an online ordering service
- It offers new updates for customers on the latest Starlight Moon products
- The website helps to create an online ' community ' of people who like Starlight Moon products .
Promotion
- Direct mail - catalogues , newsletters you may receive by post or email .
- Exhibitions ore events - Starlight Moon has a high profile at fashion events and music festival , for example , sponsoring a series of live concert or fashion show .
- Sales promotions - such as discounts , money-off coupons or competitions.
- Public relations - perhaps through press conferences or by participating in charitable events .
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