Iconic is renowned national brand of clothing, tried to penetrate market with their new launch of ready to wear. Brand has launched the new range in haste, with a very weak analysis of target market dynamics. After first quarter, it is found that new range did not yield the expected results. Upon looking at the matter closely, it was found that the market is already loaded with similar clothing ranges at comparatively lower prices, due to which the product of Iconic was not to be substituted.
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Iconic is renowned national brand of clothing, tried to penetrate market with their new launch of ready to wear. Brand has launched the new range in haste, with a very weak analysis of target market dynamics. After first quarter, it is found that new range did not yield the expected results. Upon looking at the matter closely, it was found that the market is already loaded with similar clothing ranges at comparatively lower prices, due to which the product of Iconic was not to be substituted.
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