Classy's strategy - Case Study Example

Analysis strategy y is definitely not doing well in its retail sales. retail prices account for 10% of the business`s sale. First there seems to be a problem with the pricing of its wear in the retail outlets. Retail pricing should be intertwined with behavior rules of consumers so as to generate profitable basket of purchases covering the needs of customers totally or partially. Even though it is true that a low price may have unfavorable impact on the firms marketing image among its most important customers, it should be emphasized tuxedos are not as basic as food.

They comprise of a commodity consumed by a very limited class in the society that is men mostly above the age of 35 years. It is important to better understand the process by consumers make decisions if Classy are to influence decision making. Employing a low price strategy can be highly profitable if it pushes more people to buy. Secondly, it is notable that Classy opened more stores and located them in prime retail areas. However, it cannot be gainsaid that the purpose of any business is to bring in customers, and this can only be accomplished through marketing/advertising.

From the look of things, classy are operating in a very competitive market, and getting out information concerning the high quality and availability of tuxedos in their outlets will go a long way in increasing sales. Another issue is the distinctive image as that of a formal wear store while the typical tuxedo consumer will most likely to go to a men’s wear store. Image is important and classy can create a different perception to customers by visual merchandising among other things. Finally, classy needs to control their inventory as slow moving inventory becomes outdated, unattractive and very costly.