Published by MBA Skool Team, Last Updated: August 19, 2017
Marketing Strategy of Spykar analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Spykar marketing mix, help the brand succeed in the market.
Spykar marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Spykar Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Spykar marketing strategy can be explained as follows:
Spykar is synonymous to produce more stylish and aspirational denims targeting the youngsters in the country. Its products also involve shirts, t-shirts, non-denim tops and bottoms for both men and women. Spykar products are in wide demand for past two decades of its existence. Some of the other products by Spykar includes other fashion accessories like belts, socks, perfumes deodorants and designer bags and wallets. The company which initially launched denims started diversifying by introducing variants of products including the trendsetter cargo and OYO for kids. The demographics for Spykar products are between 15 to 30 and aspirational urban and semi urban youth. Therefore the products have witnessed changes in their design and pattern according the changing trends of the defined style among these demographic groups. Spykar product portfolio in its marketing mix try to be more resonating with the youth’s needs. The online platform provides a higher visibility of such products and give a complete understanding of the needs of the consumers.
Image: company website
Spykar Price/Pricing Strategy:
Below is the pricing strategy in Spykar marketing strategy:
Spykar offers its products at affordable prices to the customers.
The apparels from Spykar are generally medium priced to capture the large consumer base among the middle class shoppers. It has generally adopted market follower strategy with prices of products being within the limit of other competitors. The pricing in its marketing mix is based on different segments of products manufactured which range from premium and materials of the clothes. The same strategy has been adopted for all the accessories produced by Spykar which are sold at mid-range price value. The major attractive factor for pricing of Spykar has been the discount features which are available in all the online and offline stores selling Spykar products. This feature has indeed helped Spykar in retaining consumer base.
Spykar Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. Also read Spykar SWOT Analysis, STP & Competitors
Spykar Place & Distribution Strategy:
Following is the distribution strategy in the Spykar marketing mix:
Spykar has vast distribution channels in the form of retail units of Exclusive Brand outlets (more than 200), Multi Brand Outlets (more than 900) and large format stores in form of Shopper’s Stop, Big Bazaar, Globus, Central etc. This has helped in easier accessibility of products for the consumers in cities as well as smaller towns across the country. Unlike its competitors like Levis, Wrangler and Pepe the products from Spykar is limited to pan India presence with less foreign exposure. The company is currently following a decentralized network of its distribution and supply chain with the focus to get more market share in southern and north-eastern regions. Also Spykar identifies the region wise patterns of demands and implements appropriate strategy to gain major market share. Continuing with the trend of ecommerce and online purchase and shopping Spykar has focussed on increasing its availability of products for consumers through such internet purchases. This provides ample opportunity of marketing and providing users with information and incentives in form of discounts to purchase the product.
The stores selling Spykar products uses innovative in house merchandising of products and creates better ambience for selling of the apparels.
Spykar Promotion & Advertising Strategy:
The promotional and advertising strategy in the Spykar marketing strategy is as follows:
Initially Spykar had carried out its aggressive promotion through in-store campaigns. This was done considering the contemporary and conventional media available for such advertising activities. However the current trend is towards using the social media platforms like Facebook, YouTube etc. The company promotions are more inclined towards youth centric themes since they form major customer for the brand. Spykar has associated itself with various social events like Teach India campaign and also the campaigns associated for votes to attract the youngsters. The taglines for some of the promotion is focussed on freedom, youth and challenges. Also various expos and events are conducted as a part of promotion to increase more consumer awareness of the product. Currently Spykar has involved in sporting events like cricket by being the associate sponsor of Rising Pune Supergiants. This has been done with the aim of attaching itself with youths from different parts of country since IPL has a large following. Hence, this covers the Spykar marketing mix.
Spykar is one the famous Indian apparel and accessories brand known for its stylish and trendsetter denims in the country. Its origin can be traced back to year 1992, founded by Prasad Pabrekar in Mumbai the company has successfully captured the attention of youth with its exuberance and fashion products. Spykar has its presence in all the major retail stores and big fashion shopping centres like Globus, Pantaloons, Shoppers Stop etc. The Spykar brand today commands over 14% of the market share in terms of casual wear. Presently the company has a turnover of around INR 300 crore and is eyeing towards INR of 700 crore by 2020 with its huge online presence and associations with different apparels ecommerce like Myntra and Jabong.
The success of Spykar comes from its ability to tap the markets existing in smaller towns in India where foreign brands are considered inaccessible due to its price and availability. Spykar company adopts strict code of ethics in dealership with all partners like staff, vendors, and associates.
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