Whistles Marketing Strategy Presentation
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Transcript of Whistles Marketing Strategy Presentation
ALLEE LIZAMA ZOE JOHNSON EMORY CAMPER MICHAEL KATZ
Marketing Strategy US Market Penetration
WHO WE ARE
“We try to create collections that
tell a story through design, fabric, and
colour.”
- Jane Shepherdson, CEO
the ‘thinking woman's fashion brand’
WHO WE ARE: brand identity/ image
STRATEGY PROPOSAL
Expand Whistles current US Market Development Strategy from a concession/wholesale-led approach via Bloomingdales into a heavily invested transnational approach during the
third quarter of the 2015 fiscal year.
US Flagship Store
PRODUCT LIFECYCLE: Growth Phase
May 2014 Bloomingdales
NY Launch
AW 2015 Flagship Launch
● Whistles long-term goals include expanding to more US markets
● Creating strong brand equity in the US market is essential to their success
● Creating a flagship will grow the brand’s image and further differentiate from competitors compared to selling in a department store
OBJECTIVES
● Increase Brand awareness in the US
● Increase long term profits
● Long-term sustainability of sales
and profits
Internationalization Strategy
Transnational Strategy“As much standardization as possible, as much adaption as
possible” - Mooradian, et. al
Risk/Customer Assessment is crucial Judgement-based forecasting, Data mining
MARKET TRENDS: Mid-Market Fashion
Fast-Fashion Brands
Mid-Market Brands
Luxury/Designer Brands
TARGET MARKET: Segmentation
Mid-Market Fashion Middle Class
Lower-Middle Class Middle-Middle Class Upper-Middle ClassMen and women
$25,000 to $50,000 annual income
Lower education attainment
Lower-level jobs
18 and over
Outskirts of major cities
Shops at large discount chains
Men and women
$50,000 to $80,000 annual income
At least a college degree
Middle-management jobs
25 and older
2nd cities
TJ Maxx, Gap, Costco
Men and women
$80,000 to $100,000 annual income
Highest educational attainment
Professionals
28 to 55 years old
Expensive cities
Aspirational shoppers
PEN PORTRAIT : Jane
Age: 30Job: Managing Editor at Glamour
Annual HHI: $80,000Education: Dartmouth College, B.A.
Columbia University, M.A.Marital Status: Single
Location: Lower East Side, NYC
Jane needs a professional, yet trendy clothing brand for work and at a relatively
inexpensive price.
Jane needs Whistles.
Competitors in US Market
TARGET MARKET: Positioning
Competitive Advantages?Foreign (British/Anglophile appeal)
Trendy/High-fashion aestheticMoves away from the traditional “Americana Market”
Excellent customer serviceReasonably priced items
Whistles will be the go-to British, high-fashion brand for our target market.
SMART OBJECTIVES: By Segment
Specific, Measurable, Achievable, Relevant, Time-Specific
1. Build brand awareness to unaided recall
2. Develop brand attractiveness
3. Measure purchase and repurchase rate
4. Maintain previously loyal customers
MARKETING MIX
WO MENS
CLOTHES
PRODUCT
320
280
260
245
168
130
108
54
PRICING STRATEGY
$
Pricing Architecture
300 & up
245-275
via Editd.com/blog
LOCATION: NYC
Los Angeles New York City
Fashion capital of the United States
Mercedes-Benz Fashion Week
Lifestyle and weather parallels with London
Stronger tendencies towards luxury
Fashion-dynamic slightly less strong
Much more laid-back lifestyle and warmer weather compared to London
LOCATION: West Village MeatPacking District
● Trendy shopping location for Upper Middle Class
● Stores with similar aesthetics
● European ‘feel’ due to cobblestone and lower rise buildings compared to upper Manhattan
● Popular dining and nightlife helps create the ‘Whistles’ lifestyle
Distribution Channel
monthly rotation and visual updates to
retain loyal customer interest
Industrial and modern with some classic British
accents
X LUCY DODD
Lucy DoddWyatt Kahn
Jerry, Saltz (2013, December 3). Lucy Dodd’s Paintings Intoxicates (and So Do Her Cocktails. Retrieved from http://www.vulture.com/2013/12/seeing-out-loud-saltz-on-lucy-dodd.html/
LAUNCH PARTY
● Host event in new store one week before opening day
● Models will wear clothes and do a showing of the new line
● There will be 200 guests, 150 of which will be celebrities and fashion industry big names and 50 will be local customers who will win social media campaign competition
● Lucy Dodd will unveil her artwork
● The brand ambassadors, Olivia Palermo and Sofia Coppola, will attend and give toasts
● One week of press coverage before opening event
Current Celebrities Aligned with Brand:
#MossMondayon SM
Platforms
COMMUNICATIONS: Social Media Campaign
● Use Spring, a new phone app that looks similar to Instagram, but is for fashion retailers only to reach the ‘fashionista’ audience that is searching for new products and designs from their favorite brands
#whistlesforUS
#whistlesxlucydodd
#bellsandwhistles
#whistleswantsyou
COMMUNICATIONS: Print and Online Advertising
● Regional and National Magazine and Newspaper Advertisements
● West Village Billboard
● Instagram sponsored content
● Pay to launch promoted tweets on Twitter in New York region to users who fit our target market
● PR pitches to generate press mentions and native content for various magazines and blogs
Coming Soon
#whistlesforUS
CUSTOMERS: Loyalty and Profitability
Source: Cooley as referenced by “How to Hug Your Customers, and get Value with Every Squeeze” Customer Think Corporation 2004
Why Customers Leave
CUSTOMERS: Customer Relationship Management
MARKETING BUDGET PROPOSAL
Launch Party Staff/Caterer/Press $150,000
Local Advertisements $5,000
Social Media Advertisements $15,000
U.S. PR Position $75,000/yr
Total $245,000
Timeline
Questions
References
Carmichael, M. (2012, March 19). The Demographics of Retail | Ad Age Stat - Advertising Age. Retrieved October 1, 2014, from http://adage.com/article/adagestat/demographics-retail/233399/
Crisell, H. (2014, May 19). Meet Jane Shepherdson, the Woman Behind Whistles’ Cult Following. New York Magazine. Retrieved from http://nymag.com/thecut/2014/05/meet-the-woman-behind-whistles-cult-following.html
Gustafson, K. (2013, December 13). Middle Class Buying Luxury Again- But At a Bargain. Retrieved October 3, 2014, from http://www.cnbc.com/id/101262672#.
Indvik, L. (2014, May 22). How Whistles Reemerged As One Of The Most Exciting Contemporary Brands in Fashion. Fashionista. Retrieved from http://fashionista.com/2014/05/whistles-ceo-jane-shepherdson
Jerry, Saltz (2013, December 3). Lucy Dodd’s Paintings Intoxicates (and So Do Her Cocktails.Retrieved from ttp://www.vulture.com/2013/12/seeing-out-loud-saltz-on-lucy-dodd.html/
Karen Millen is changing direction and is leaving occasion wear behind. (2014, April 15). Retrieved October 4, 2014. http://www.veooz.com/news/aH51Z11.html
Keller, C. Magnus, K.H., Hedrich, S., Nava, P., Tochtermann, T. (2014, September 1). Succeeding in tomorrow’s global fashion market. McKinsey & Company. Retrieved from: http://www.mckinseyonmarketingandsales.com/succeeding-in-tomorrows-global-fashion-market
Kochhar, R. (2014, January 27). Despite recovery, fewer Americans identify as middle class. Retrieved October 8, 2014, from http://www.pewresearch.org/fact-tank/2014/01/27/despite-recovery-fewer-americans-identify-as-middle-class/
References
Massey, W. (2014, July 25). Did you know...that Whistles has reported its first profit since the 2008 management buy-in?. RetailWeek. Retrieved http://www.retail-week.com/city-and-finance/retail-week-knowledge-bank/did-you-know-that-whistles-has-reported-its-first-profit-since-the-2008-management-buy-in/5062560.article
Mooradian, T.A., Matzler, K., Ring, L.J. (2012). Strategic Marketing. Williamsburg, VA: Good Dog Publishing.
PRIZM. (n.d.). Retrieved October 8, 2014, from http://www.claritas.com/MyBestSegments/Default.jsp?ID=20#
Ranchhod, A. (2004). Strategic Marketing in Practice. Oxford.
Willis, R. (2013). Clothes: A Manifesto. Intelligent Life. Retrieved from http://moreintelligentlife.com/content/lifestyle/rebecca-willis/clothes-a-manifesto?page=full
Remy, N., Schmidt, J., Werner, C., & Lu, M. (n.d.). Unleashing Fashion Growth City by City.
(2014). Inside Theory. Theory. Retrieved from http://www.theory.com/Inside_Theory/Inside_Theory,default,pg.html
(2014). Our Story. Vince. Retrieved from http://www.vince.com/about-us/page/aboutus
(2014). About us. Karen Millen. Retrieved from http://us.karenmillen.com/info/About_20Us?subtab=corporateinformation#Corporate-social-responsibility