Published by MBA Skool Team, Last Updated: January 19, 2019
Marketing Strategy of DKNY 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 DKNY marketing mix, help the brand succeed in the market.
DKNY marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the DKNY Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in DKNY marketing strategy can be explained as follows:
DKNY or Donna Karan New York is a leading fashion brand based out of US. DKNY has clothes known as Donna Karan collection which are specifically designed for working, paced and dynamic women. In its wide marketing mix product portfolio, it has sweater, jeans, sweatshirts, tops, jackets, intimates and bottoms for the women. DKNY also produces sportswear for them. Apart from this, it produces accessories like leather bags, sneakers, boots, sandals, watches, sunglasses. It also produces perfumes under the Donna Karan Fragrances collection. Donna Karan has more than seventy Donna Karan Collection all over the world. DKNY brand has more products like Jeans, Active, Juniors, Pure, Men and also produce tailored products. DKNY products are well packed and are of premium quality. Return can also be sent through couriers.
DKNY Price/Pricing Strategy:
Below is the pricing strategy in DKNY marketing strategy:
DKNY brand has placed itself as the product of premium segment and charging premium prices as well.
The consumers belong to the upper-class society who do not have any problem in affording the Donna Karan collection. The company stores are also present only in those cities where the proportion of upper-class society is high. In reverse to this, DKNY brand has positioned itself as the affordable brand which middle class consumer can easily buy. This brand was created keeping in mind the consumer needs. DKNY also have sale where clothes for both men and women are sold at a discount. If the consumer is purchasing through online site it can get extra 20% one-time discount.
DKNY Place & Distribution Strategy:
Following is the distribution strategy in the DKNY marketing mix:
Donna Karan have stores in more than 120+ countries. It has approximately 20 stores in China, 2 in Canada, 2 in Doha and 4 in Dubai. DKNY has presence in New York, London and Paris which is the fashion capital of the world. It has not partnered with any third-party retail store to keep its exclusivity.
It has started selling its product online with complimentary shipping policy.
DKNY Promotion & Advertising Strategy:
The promotional and advertising strategy in the DKNY marketing strategy is as follows:
DKNY uses all media channels to promote its products. As Donna Karan is a premium segment brand, it goes for selective method for advertisement. This brand usually advertises through premium magazines and fashion shows. It hires international models to participate in the international fashion shows. It does sales promotion through its site using the discount, complimentary shipping. It has a DKNY Insider rewarding system where consumer will get equal points on purchase. These points can be later redeemed later. We can also get 20% off on birthdays using the DKNY Insider system. It also runs Holiday, Men, Fall Campaigns. It promotes itself through the #IAMDKNY tag where consumers can flaunt this tag. It also maintains a blog site where users come and learn about the latest fashion trends. Hence this concludes the DKNY marketing mix.
Donna Karan New York is a New York based primarily women fashion company founded in 1984 by Donna Karan. It is the subsidiary company of G-III Apparel group. Previously, it was owned by Louis Vuitton Moet Hennessey. DKNY is also a brand of the same company, but DKNY is famous for its more affordable pricing strategy. The New York part in the name of the company tells us the company inspiration, attitude and lifestyle. The company stands strongly for women rights’ and fashion.
It also supports them with its iconic and innovation system of clothing. Apart from clothing, it also has collection in fragrances and bags market.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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