Explain how the prices of Levi Strauss & Co. set reflect their objectives and market conditions
As Levi expanded its base across America, and the world, it soon came to India to target its huge base of young customers in 1995. Quiet surprisingly, India did not give the instant success Levis had anticipated for itself. The brand became a victim of one of the most common mistakes of all times there; they underestimated the power of Indian consumer base and were too boastful and high headed of their own brands. Levi’s believed that Indian consumers will fall prey to the brand bug and buy anything at any cost. Hence the costs when the brand was initially launched were exorbitant. Some of them scaled up to Rs 2950 and Indian consumers ended up giving the brand a mellow reception only. The brand was looking to dwell itself in the market and stand out but that was at the cost of its market share and volume. Soon Levi’s learned that Indian consumers are very sensitive about the prices and hence the prices were reasoned out. Once the brand became affordable, Levis started graduating and ended up finding immense acceptance in the Indian market. Levi’s did not have to undertake special efforts in its bid to promote and market its brand in India. Thanks to the global world and information revolution, the brand had its own share of TG in India.
In India Levi’s is known for its greater appeal to the huge young market that exists there. It stands unparalled in terms of its marketing strength in that part of the world. However there is a hitch. Levi’s still inorbits in its own conceived shell. It has to move beyond that and market with aggression. In the recent times, no new commercials of Levi’s in print or in media have been seen. The brand is surviving on the laurels it has earned out side the country in India. Today the market base has changed and with the in-numerable number of Indian Marketers hogging through the aggressive path, Levi’s may have to take that extra step to add more punch and appeal to its communication. There is still a huge consumer base in India which feels that Levi’s is beyond their range and stand unaware of the Levi’s range of product line. In a market which is as tough as that of India, this could be a grave mistake. (Roytke)
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