LAUNCH
Pricing Strategy :
Im not a sales expert but I believe from my limited knowledge that Dumbgood operates on a Margin based pricing + Cost Plus + Premium, pricing strategy.
Dumbgood regularly changes margins for items depending on sell throughs to increase volume and decrease price for the customer. When the product is first released to the market Dumbgood operates on a purely cost plus pricing strategy. Dumbgood has a specific margin goal of 70% for all new product releases but this could change based on market demand or product time on site. Dumbgood also relies on a premium pricing strategy, given they have access to exclusive licenses and the ability to create unique products that can only be for through the Dumbgood retail site.
Go to market:
Who is the launch owner?
This would be the Brand Manager for Dumbgood
Who are you trying to reach with the specified License?
Here we would refer back to the persona(s) that we discussed at the beginning of the design sprint, where we discussed picking the license and the trends to design into.
Pricing & sales strategies:
MVP tee pricing $30-$34
Cut and sew apparel items pricing from $50-$100
Accessories pricing $30-$100
Marketing Strategy:
Social media product seeding
Direct email promotion
Social media channel posts
Google ad’s purchase
Instagram & Facebook ad’s
Partner with online publications to review product
Possible marketing activations - pop up shops, event promotions or trade shows
Success metrics:
Sell through rate of 50-80%
ROAS of 4
Customer Support Plan:
The standard customer support team will be sufficient, the team should be updated on new silhouettes and sizing changes that may have taken place in the product design. They should be answering questions through email and social media as received from the customer.
Post Launch:
Continue paid advertising
Continue product seeding with influencers
Taper off social media posts
Set timeline for product sunsetting
Set timeline for for product to go to sale section
