Product Development Paper

1164 words - 5 pages

Product Development Paper

Michael Connor

BRM 353

August 3, 2015
Michael Wilson

When you think about sports, often times you associate the sport with discipline and dedication. All athletes, whether professional or amateur, require product that’s specific to their sport of choice. Rezillnt apparel is an athletic apparel brand designed for the young athlete. The brand represents strength, which is at the core of every young athlete. Rezillnts’ slogan My will, My way, encourages the young athlete to be self-motivated, independent, and find ways to reach their maximum potential from within.
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Rezillnt apparel will also like to team up with inner city schools and sponsor their sports teams by providing apparel and accessories to their athletes. The brand will also utilize convention channels such as The M.A.G.I.C (Men’s Apparel Guild in California) convention which is a tradeshow comprised of eleven communities showcasing the latest in apparel, footwear, accessories, and manufacturing. Buyers and Retailers from all markets attend this show which will allow Rezillnt apparel the opportunity to make connections with future vendor partners, as well as, sustain relationship with current vendor partners.
Price
Rezillnt apparel will use a combination of Penetration and Economy pricing strategies. Since the consumer is paying for the name of our competitors when it comes to similar product, we are able to initially set our prices low and still offer quality product. Once the consumer realizes our product is comparable to the competitors at a fraction of the price, we hope to gain consumer loyalty, which will help maintain and grow the brand. We also understand that our consumer does not have a lot of disposable income, so implementing economy pricing will help us capture that price sensitive consumer because of the value we offer. Combining the two strategies will help us capture that mid-tier consumer looking for quality product at an affordable price.
Placement
Rezillnt apparel public relations team will handle product placement. We will utilize kids from local schools as our ambassadors for the brand. Showcasing highlights from sporting events with the young athletes wearing the brand, will give the product a personable connotation. Similar to how Nike uses well-known athletes to represent their brand, we will use inner city kids who excel in their sport to represent our brand. In order for this to be successful, we will use localized advertising surrounding the schools that we sponsor.
Buy In and Communication
Rezillnt apparel is looking to partner with sport channel retailers. Big 5, Sports Authority, Dicks, and Sports Chalet are a few of our target partners. The brand will not be sold to department store channels in order to avoid over saturation. We will meet with our vendor partners every quarter to showcase our new line that will entail color and fabric updates, new silhouettes, and new technology used in key styles. We will also meet with our key retailers monthly to discuss opportunities and challenges in order to continue capitalizing on the successes and missed opportunities. A SWOT analysis will be conducted monthly, quarterly, and yearly. This will allow Rezillnt apparel the opportunity to serve our retail partners in the best possible way and...

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