Product Strategy

Components of Product’s Marketing Offering

 Product Features and Quality: We would provide our customers with quality
handbags made up of genuine and pure leather in vast variety and styles.
 Value-based Prices: Since we are using genuine leather in our handbags, so we
would be charging accordingly. Our target market includes women from upper-
middle and upper class who are more concerned about brand quality rather than the
pricing.
 Services Mix and quality: We would use a combination of promotional activities,
most important of which are advertisements with the help of a stylish female
celebrity. Online and social media would be the most convenient and efficient way of
marketing our brand.
 Attractiveness of the Market Offering: We will make sure that our handbags would
be available in all shades at all the Maria.B outlets.

Product level: Value Hierarchy

Core Benefit: The fundamental level includes the basic want or need; our product or service
is going to fulfill. In our case, Leather Handbags will add style, class and elegance to the lives
of our customers (women).
Basic Product: Our customers will use these handbags to carry their important stuff with
them. Out leather handbags offer great style along with utility and never look out of fashion or
outdated, no matter what kind of attire they are wearing. 
Expected Product: The handbags would be durable and user-friendly, made up of genuine
leather with lesser chances of tear due to their high quality.
Augmented Product: We would offer other accessories like jewellery, head jewellery,
clutches, scarfs, bangles, glasses, etc which would go perfect with the bags.
Potential Product: We will make our handbags eco-friendly and innovative. Our handbags
would be water proof and heat resistant.

Product-Mix Pricing Strategies

We will use various pricing strategies in order to enhance our sales and increase
our market share.
Product-line pricing: We will offer our customers matching dress with their chosen
handbags in premium prices. We would set comparatively higher prices for these matching
dresses and bags. We will also offer separate handbags with different prices.

1
By-Product Pricing: Matching wallets or clutches would be available with our handbags.
We would be charging for both the main products (handbags and the by-product i.e. Clutches,
Wallets).
Optional Feature Pricing: We would assist our customers to match a dress or clutch with
their selected handbag.
Bundle Feature Pricing: Our customers would buy matching accessories which includes
jewellery, head accessories, scarfs, glasses, bangles, a complete package at one place.