Whistles Marketing Strategy Presentation

Page 1

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

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:

#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

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

#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


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