Startup Advice

Business Profile: LUCRETIA

Fashion is one of the most important aspects of life delivering influences to other aspects in daily life. As known, there always alterations of fashion trend elements including color and model every year. Still, the alterations are not capable of evicting the usage of leather. It is a part of fashion item which never be eroded by time and still utilized by current fashion trend since of its relatively expensive price and potential great quality. The texture of leather makes it to be looked exclusive compared to other materials. There highly necessary to hire special labors who are capable to process leather into maximally crafted and high sales value finished goods such as bags, shoes, and wallets.

By the condition, Lucretia is solicitous to craft bags, representing one of the most renowned fashion goods. Lucretia is a bag business which focusing on bag industry that made from leather combined with a unique, modern and an exclusive design. For each product, we just produce 5-15 bags and we use hairy leather and jacquard fabric that has a very good quality as the other international brand used.

Lucretia is a bags business which focusing on leather and jacquard fabric concept with a unique, modern and an exclusive design that offers the people who wear it a high self-confidence and certainty in an appealing and elegant way. Each product of Lucretia, using a good quality of leather that has same quality used by international brand, so the product very luxury. One of the benefits of using leather for bag are the durability of the material, eco-friendly because leather bags are made from animal hides and it utilizes less chemical substance on from their production processes, last but not least is leather bag are easy to maintain. Lucretia is made to give these people a taste of a good life. We solve the of fashionista who could never afford to pay the high price tags such as Louis Vuitton, Prada, Chanel, and many more.

Lucretia comes from the idea initiated by the founder – Sonia Devi Valerie. Its product consists of leather modified becoming unique, modern, and exclusive design. Besides, the product shape design is going to be rarely seen in most of the common bag’s design in Indonesia, and in addition, Lucretia produces the product in limited number in order to give the prestige feeling for the buyers of having the limited-edition bags and also each bag have several sizes (S, M, L). The other specialization about Lucretia is we give warrant for each bag to be repaired for a year.

Lucretia is founded by Sonia Devi Valerie, one of the President University’s Business Administration student in Entrepreneurship concentration. Derived from a family running a business for about 25 years, she has an interest to build her own. The purity of vision which helping other people was motivated Sonia to be more creative and give a contribution to Indonesia.

Her big interest of bag makes her think to create her own designed bag. By seeing the opportunity in current fashion era, Sonia believes that her brand would be accepted well because of the unique creation and it could properly compete in local and international market.

Demographic. Based on demographic segmentation, there are three main target markets of Lucretia. People who work in the office ( Employee / Entrepreneur ). They are the group of people who always need to dress up for their daily life, not only with fashionable design, but also functional design, which are so balanced of the product usage in any condition. The bag is designed to make them keep stylish in their daily life after work. Teenagers / Young People. Group of people who like to look trendy and stylish in every time they go out even just chill / hangout. House Wife. They are group of people who loves to do hangout for social gathering. Generally, they are willing to compare their own bags model each other as one of the conversation topics.

Geographic. Lucretia focusses the business operations in Indonesia, by mainly focusing on Java Island and Bali since these regions have a large number of population and tourist also it influences the trendsetter in Indonesian’s fashion industry

Psychographic. As stated in the previous chapter, the product features and price of Lucretia is suitable for upper middle-class segment because people at this level tends to find products that worthy, unique, and model always up to date.

Behavior. According to the previous chapter, middle – upper level behavior usually is more critical and logic in the way they act and think. They are not only concern about the function, but also the value of aesthetic of some product. At this level, the people are more likely to spend their time gather outside because people at this level compete to be the trendsetter di their environment.

Lucretia’s target market is focusing the people at the age of 20-46 years, having the professions of university students, workers, entrepreneurs and housewife where most of them are looking for bag with trendy style and really consider about what they wear in their all activities. Lucretia positioning the company in the market to offer an exclusive, modern, and unique design for every product, giving the elegant appearance for the users. Lucretia provides the best quality and service to ensure what the consumer needs are fulfilled, and by the price it reasonable for them to get the best of Lucretia product. The positioning of Lucretia consists of several points of differentiation which are:

1.         Professional and experienced designer

2.         Complete catalogue for products

3.         First brand of bag that use combination of jacquard fabric and leather.

Lucretia uses the best quality materials for every product being made. Cowhide, cow fur and jacquard fabric are the 3 main materials used for this product. Unique, Modern, Classy and Exclusive are the significant aspects Lucretia wants to show through the products, leading the differentiation and prestige of Lucretia products.

Lucretia ensures the best reasonable price, by the product with the aspect of material and quality. There are also special offers through gift and voucher, also discount from several events Lucretia conduct. The friendly price offered through the products depending on the complexity and the material, as soon as the design.

Lucretia uses an online promotion to introduce the brand in Indonesia, so Lucretia can easily reach the consumers without any distance. The potential market place in Indonesia are the big cities, so it helps Lucretia to get the most of the consumers. Besides online marketing, Lucretia follows some of fashion exhibitions in the big cities to create a massive awareness of the brand.

There are three key activities for promotion, which are as follows:

Online Marketing. Lucretia creates a website which contains contact information of the company, company’s profile, and procedure to order. Other online tools might come from social media and online advertisement. Word of Mouth. By maintaining the best quality of every product, it is possible for customer to spread good news about Lucretia to their friends and family.Personal Selling. Lucretia approaches the customer directly to introduce about the company and its product. Many people do not know this product and they have less trust since they never buy the product before. Therefore, Lucretia performs personal selling as the simplest promotion method to create an awareness of the brand.

There is some marketing budgets Lucretia take focus on:

Official Website of Lucretia. Official Website of Lucretia is the most important thing in fashion aspect nowadays since Lucretia are approaching the consumers extensively with the integrated marketing where the people prefer the instant method without spending their time to do shopping. (Many people curious about the brand and the detail of the desired product). Social Media Advertisement. Instagram, Facebook, and Line can be the potential money maker due to its function for advertisement because those media are oftenly used by Indonesians. Business Card. Identity is the most crucial thing for business owners and businessmen. Business card can be used to introduce a company to other business colleagues or consumers. Fashion Expo. Expo is the most interested event by youngsters and adults. One of the most visited expos is fashion expo because there are many brands and models triggering the people in Indonesia to always be update for their lifestyles. Lucretia plans to follow some of expo events, focusing on SMEs expo and Indonesian products expo such as Inacraft which is going to be held at JCC on May 2017. Lucretia follows the expo events once in 2 years. Yogyakarta and Jakarta are the locations of related expo events Lucretia selects to join. Those cities are going to be attended by many people since there are the crowded markets and therefore, Lucretia attempts to attract the potential consumers through the events.

This might be a potential way to reach the customer that really loyal with fashion. This is also big opportunity for Lucretia to introduce products and keep in touch with the customer directly.

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