PRODUCT STRATEGY

1. What do you need to improve on your product? You may include new product development
ideas. (At least 2 product strategies that is needed to improve the product)

Answer: Product strategy is the must depict the overall vision as well as the concrete
actions on how these visions can be achieved. Base on the table above, I can see that there is
really a need and a necessity to improve its set up especially in terms of action specification.
Product strategy such as mentioning the goals considering the SMART ones are good plan
of action in order to give the people the idea on what are the objectives of your product.
This will help the people be educated as well with your product. The second product
strategy is building initiatives. Initiatives are output from what your goals are. I believe this
should also be considered by the product since this initiative are part of your roadmap that
will strategically present the planned map.

Explanation:

Setting goals is one among the few things that we can use in the development of a product in
order to strategically plan what would be the future of the product. This entails the things that
your product ought to achieve in the next coming months, years, or decades. I think this strategy
is highly needed with the company named "Makata Clothing Brand" in order for them to give
full detail and view to the people on their aspired goals and achievements in the future. Another
one is the product strategy building initiatives. This should be displayed on the table since this
will serve as a roadmap to achieve the product goals.

2. In terms of pricing strategies, what is needed to improve? (At least 2 pricing strategies that is
needed to improve the product)

Answer: There were two pricing strategy that we can use. Base on the table, I believe the
product of "Makata Clothing Brand" can use Price skimming strategy where the product
can be introduced with a high price and then gradually as it gathers more business
opponents, the price will be lowered down. Another pricing strategy that the product can
have is the economy pricing where product will target people’s choice of product where
they can have more discounts. This can help the product to be easily sold in the market
since a lot of people will opt in buying it. 
 

Explanation:

Base on the table above, it is evident that it did not specify what could be the strategy that the
product can use in terms of its pricing.  Pricing plays an essential role in product management.
This is the main reason why company runs since this is the main relates the source of income.
The two-pricing strategy specified above are effective ways on dealing with the price’s status of
the product. As a total opinion, I believe that price skimming as well as economy pricing are
very concrete and effective strategy in planning how to set the product's prices since most of the
time now, most of the people around the world preferred buying things that has a lot of
promotions where they can save a lot. 

3. What are your proposed distribution strategies? (At least 2 place strategies that is needed to
improve the product)

Answer: Base on the data above presented on the table, I believe that there were two
distribution strategies that can help this product. These are the intensive distribution and
selective distribution. First, intensive distribution can be used in order to serve many
stations as possible. This will help people to have your product in the reach of their
locations. Another one is the selective distribution. This will help the product to control
which areas needs more distribution. In this way the product will not be stocked for a long
period of time. The first choice can be used for areas that consumes more of the product
and the second one is for areas who consumes less of the product.

Explanation:  

As mentioned in the answer box above, these intensive and selective distribution strategies can
be used wisely in order to improve the product's selling action. We cannot deny the fact that not
all the time, all the places will have a huge amount of orders. In this way, these two strategies
can be used. 

4. What are your promotion strategies? (At least 2 promotion strategies that is needed to improve
the product, proposing strategies should be in detailed and have mechanics on how to do it.

 
Answer: There were two promotions that can be used for the product. These are social
media marketing that can be go along with influencer marketing. These are ideal strategies
that are useful in order to make known the product to the people. By using social media
platforms as well as incorporating it with influencers, the product can reach hundreds of
millions of people. Social media has an increasing number of users. Influencers catch
people's attention easily. By combining these two promotions strategy, the product will be
sold to people easily. 

Explanation: 

Combining these two promotions strategy which are the social media advertising and influencer
promotion, the product can reach a lot of people. In this way, the product will be easily sold to
people and this is a helpful.