ALLEE LIZAMA
ZOE JOHNSON
EMORY CAMPER
Marketing Strategy US Market Penetration
MICHAEL KATZ
WHO WE ARE
“We try to create collections that tell a story through design, fabric, and colour.” - Jane Shepherdson, CEO
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 AW 2015 Flagship Launch
May 2014 Bloomingdales NY 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 Lower-Middle Class
Middle Class
Middle-Middle Class
Upper-Middle Class
Men and women
Men and women
Men and women
$25,000 to $50,000 annual income
$50,000 to $80,000 annual income
$80,000 to $100,000 annual income
Lower education attainment
At least a college degree
Highest educational attainment
Lower-level jobs
Middle-management jobs
Professionals
18 and over
25 and older
28 to 55 years old
Outskirts of major cities
2nd cities
Expensive cities
Shops at large discount chains
TJ Maxx, Gap, Costco
Aspirational shoppers
PEN PORTRAIT : Jane Age: 30 Job: Managing Editor at Glamour Annual HHI: $80,000 Education: 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 aesthetic Moves away from the traditional “Americana Market� Excellent customer service Reasonably 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
PRODUCT W O M E N S
C L O T H E S
PRICING STRATEGY 320
Pricing Architecture
280
260 245 168
130 108
54 via Editd.com/blog
300 & up
$
245275
LOCATION: NYC
Los Angeles
New York City
Stronger tendencies towards luxury
Fashion capital of the United States
Fashion-dynamic slightly less strong
Mercedes-Benz Fashion Week
Much more laid-back lifestyle and warmer weather compared to London
Lifestyle and weather parallels with 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
Industrial and modern with some classic British accents
monthly rotation and visual updates to retain loyal customer interest
X
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-loudsaltz-on-lucy-dodd.html/
LUCY DODD
LAUNCH PARTY
●
Host event in new store one week before opening day
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Models will wear clothes and do a showing of the new line
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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:
#MossMonday on SM Platforms
COMMUNICATIONS: Social Media Campaign
#whistlesforUS
#whistlesxlucydodd
#bellsandwhistles
#whistleswantsyou
COMMUNICATIONS: Print and Online Advertising
Coming Soon
●
Regional and National Magazine and Newspaper Advertisements
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West Village Billboard
●
Instagram sponsored content
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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
#whistlesforUS
CUSTOMERS:
Loyalty and Profitability Why Customers Leave
Source: Cooley as referenced by “How to Hug Your Customers, and get Value with Every Squeeze” Customer Think Corporation 2004
CUSTOMERS:
Customer Relationship Management
MARKETING BUDGET PROPOSAL Launch Party Staff/Caterer/Press
$150,000
Local Advertisements
$5,000
Social Media Advertisements U.S. PR Position
$15,000 $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-whistleshas-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