Question
Explain the Product Development Strategy of Raymond.
OR
Explain the Product Development Strategy of Park Avenue.

Answer

Raymond's, in early eighties, 'launched some ready to wear trousers called Double Barrels'. The product received a low response. Aggressive advertising, naming the same now as Raymond's Leg wear with caption "no hassles with tailors” and the promise of a “great fit" too failed. The company, realized through research that by and large Indians were attracted to a foreign label consequently, the company decided to market their readymade garments under a new brand name - PARK AVENUE which conveyed a 'Western' image to fit in for perfect stylish and a completely Western image from top to bottom. Park Avenue extended wallets, belts and kerchiefs under one roof. With ease company sailed through the critical stages.

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