y
Market report Amy Andrews
Contents
3 Executive Summary 5 Industry Situation 7 Competative Situation 9 SWOT Analysis of competitor 11 Branding 13 Consumer Anaylisis 15 Consumer Analysis 17 Manifesto
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Contents
19 SWOT Analysis of Y. 21 Brand onion 23 Marketing mix 25 Integrated Promotional Strategy 27 Summary 29 Appendix 31 Bibliography 32 Image List
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Executive Summary 3
The aim and objective of this unit is to begin to create a lifestyle publication that successfully connects with its consumer, which will be achieved by fully researching the publications competitors and the market surrounding them to define a gap in the market to fill with this publication.
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Industry situation
By creating a brand postitioning map, it has been clear to identify where the gap in the market is for Y. publication to sit. From looking at the map, it is clear to see that there are many publications that currently fit the criteria of being high in price and informative, yet there are not many publications that cater to the lower price scale that are a mix of both creative and informative content. This combination is key in order to ensure the informative conent is getting to the consumer, but in an interesting and engaing way to keep the audience involved in the publication. The consumer survey (refer to appendix 2) shows that they are predomenantly interested in learning about other peoples lives and interests in a creative way, rather than having to read streams of information. The survey results also state that the consumer are not willing to pay a high price for a creative lifestyle magazine.
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Brand poaitioning map Creative Content
Lagom Klok
Kinfolk
Fresh paint
Y. (Gap in the market)
Low price ÂŁ0
High Price ÂŁ20 Oh comely
The great discontent
The happy reader
Dumbo feather
Delayed gratification
Informative Content
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Competitive Situation
Competitor
analysis:
When researching publications that already exist that are art and lifestyle publications, it was clear to see where they were succeeding and where they were going wrong. From identifying where they were going wrong, it showed where the gap in the market is for a new art and lifestyle publication.
Flux magazine seems to be a strong and successful art and lifestyle publication. It is an independent, UK based publication that features content on fashion, music, art and culture. “A stylish adventure into the unknown and a beautiful antidote to the increasingly uniform mainstream”. Flux magazine is not sold online, but in selected book stores, galleries and news trade, predominately in the UK but also in some international cities.
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Flux originally started off as an independent publication and has now developed themselves a digital hub. Although its consumer base cannot purchase the publication online, relevant content and updates can be accessed digitally. Additionally, the brand have evolved and released a sister publication called ‘fluxlings’ which is a ‘magazine for parents looking for the beautiful, the wonderful or the plain different in art, fashion, travel and culture for their children’.
They have various online platforms, ter account and Instagram account. very strong social media following content for their consumer base to
with a facebook page, twitAlthough, they don’t have a as they don’t post regular see and keep updated with.
The overall aesthetics of Flux magazine is consistent and strong, its often experimental with layout; using different angles and sizes for text with layering of images. It is a very creative and innovative aesthetic but it is still clean and works well for the brand.
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S
trengths
Flux magazine has a strong and consistent aesthetics for both the physical publication and the online website, which compliments the contents of the publication itself. They feature a wide range of content; including fashion, music, film, art, beauty, technology, lifestyle, travel and food, this allows their consumer base to be wide increases their sales as well as website hits.
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W
eaknesses
Even though Flux magazine has various forms of social media platforms, including Twitter, facebook and instgram, they don’t post regular content or engage with their audience, which has resulted in them not having a large online following, which in turn is not allowing their content to be shared online to build their consumer base further.
O
pportunities
Following on from talking about their weak social media presence, a great opportunity for them would be to hire a social media team to post regular and relevant content, whilst engaging with their online audience to ensure a strong connection with their current consumer, as well as growing their consumer base further through their online presence.
T
hreats
New competitors entering the market that successfully create a strong online presence who begin to sell their publication online as well as in store would pose a threat to flux magazine who currently have a weak online presence and don’t sell their publication online. 10
Branding
The name‘Y.’ was chosen for this publication due to the fact that it is based around exploring ideas with in different themes; 'why’ people think things and 'why’ we are influenced by certain things in our society. It is simply a play on the word 'why’, it is short and to the point, yet it fits perfectly with the concept of the publication.
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Consumer Analysis
Style: Lifestyle: independent craves creativity art galleries exhibitions fashion events festivals spur of the moment open minded visuals aesthetics
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honest creative expressive clean simple
Fashion: creative unique inspirational expressive innovative
New media: Instagram youtube facebook twitter snapchat
Interests:
Desires:
fashion makeup music art photography learning culture reading exhibitions art galleries outdoor adventures festivals
to create explore aspirations freedom to inspire
Character: creative open minded inquisitive adventurous positive
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Consumer Analysis
Y.’s consumer base is not defined by age, but an attitude to life and others around them. She is a creative individual with an open mind and free spirit. She isn’t judgemental of others, but accepting of peoples differences. She wishes to be inspired by the lives of others around her and is inquisitive to learn about what drives and inspires people.
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Manifesto
“Y. is a creative lifestyle publication aimed at inspiring and opening its reader’s minds. We feature content surrounding art, including fashion, make up, photography, music and culture on a deeper level by looking into what it is that influences people in their lives.”
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S
trengths
Y.’s consumer base is not gender or age specific, but instead aims it at a customer’s perspective on life, this means that the publication itself appeals to a wider audience than if it was gender or age specific. Features various concepts under ‘lifestyle’, including fashion makeup, music, culture, photography and art which means the publication caters to many needs of the customer base. A strong, minimalistic aesthetic with a creative and personal twist by including hand drawn images over the photography used with in the publication.
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pportunities
Potential to branch out to a digital platform to establish a strong customer base. Opportunity to build a successful social media following across various mediums that will connect and complement each other. Expand the team working behind the production of the publication to get stronger content at a regular rate to be delivered to the consumer.
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W
eaknesses
There is currently no website that has been established to accompany the publication which will make it more difficult for the consumer to find out about the publication. A strong and solid customer base has not yet been set, there for more publicity is needed to get the publication more acknowledged with in the market.
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hreats Threat of new competitors entering at the same market position. Economy changes which result in a decrease in subscriptions to the publication or the consumer simply not purchasing magazine anymore. The threat of other publications covering the same content but on a higher budget.
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Brand onion
Hand drawn illustrative elements over photography
Creative
Op
en
ve
ti
i os
nd
An inspiring read
A personal, clean cut publication
Fun Honest
An escape from social conformities
ti
Creative outlook on people’s lives
st
ic Relatable
Mixture of content themes to suit a wide audience
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To pi ca l
Inspiring
Ar
ed
Honest
Focus on a strong running aesthetic
Inspiring
P
mi
Photoshoots and articles based on real life people and their stories
A brand onion is a well known and effective way of determining a brand’s identity in different categories. Refer to appendix 1 for a break down of each section of the brand onion diagram. Specifically to Y. publication, the brand onion clearly shows the overall dynamic of the brand as being a fun, honest and inspiring publications for those of a creative mind set who are intrigued by the artistic work and general lives of others around them. The diagram shows how Y. publication is intended for those of an open mind who have a positive mind set and are keen to be inspired. The overall content sturcture of Y. publication consists of hand drawn illustrations to fit with the theme of creativity, a focus on a strong aesthetic running through out the publication and through the use of photo shoots and articles that are suited to a wide creative audience.
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Marketing Mix
Product
Price
Y. publication has been created to explore topics of lifestyle that other lifestyle magazines in the market don’t currently cover; by looking into deeper issues. A wide range of photography, articles and illustrations will allow the consumer to connect with the publication and feel inspired by the content. The aesthetic of the publication is clean and minimalistic in order to allow the content to speak for itself rather than being over powered.
As Y. publication will be printed on high quality, mixed paper stocks, the publication will be on the higher price end. The final price of sale for Y. is estimated between £5- £10, as when looking at my consumer research survey (refer to appendix 3) this is the average price my intended consumer base would pay for a high quality lifestyle publication.
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Place
Promotion
Whilst Y. publication is building its consumer base, it will be sold online, where it will be shipped worldwide. While the publication is originally being sold online; independent boutiques, music venues and galleries will be looked into for selling the publication. It is a niche publication, therefore it needs to be sold in appropriate places to ensure it reaches the consumer base.
Blogger collaborations will be looked into, where the blogger is able to be featured in Y. promoting their individual style and inspirations in return for them to feature the publication on their blog and social media platforms to get the publication a greater following. Additionally, talks will take place with small boutiques and art events about having a stand in their venue to promote Y. ensuring it reaches the proposed consumer base.
Social media accounts for Y. will be created to promote the publication through imagery relevant to the content and aesthetics of the publication. This will not only entice the audience to look into the publication, but also give them an idea of what to expect from Y.
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Integrated promotional strategy
A
As a brand Y. needs to be constantly aware of what its competitors are doing and to be able to stay ahead with innovative ideas to further develop the publication. There also needs to be continuous awareness of any changes surrounding consumer needs, for example if financial situations change, then prices and production of the publication will need to adapt to suit the needs of the consumer. In terms of awareness for the consumer; to attract the attention of the consumer, up to date promotional content will need to be regularly posted on social media to keep the consumer interested in the publication. Via social media, connecting with the audience is key in keeping brand loyalty between the publication and the consumer.
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As a publication, Y. has a responsibility to inform its consumers about the content it promises to deliver and for all information given to be relevant and honest. Outside of the publication itself, Y. needs to inform its consumers of changes happening with in the brands development. On social media platforms, it is crucial that Y. interacts with its audience and posts interesting, yet relevant content to keep the consumer base correctly informed.
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D
In order to make the intended consumer want to purchase Y. magazine, a marketing campaign will be produced and released, as the visuals will draw in the audience and make them want to find out more about the brand. These campaigns will be targeted at social media as this will reach the greatest amount of people in the quickest time scale. The overall aesthetics of all the marketing campaigns, the website and the publication itself will be cohesive and creative, yet clean cut to suit the consumers’ needs.
A
In order to lead the customer to want to take action in purchasing Y. magazine, marketing campaigns will be put out across social media to reach a large audience, as well as subscription discounts for customers that sign up to a subscription of the publication, which will urge them to purchase several issues of the publication as they are getting them at a cheaper price.
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Summary
Timescales: Year 1- With in the first year of Y. publication launching, social media accounts will be set up on Facebook, twitter and Instagram with regular content posted and active connectivity with followers to these social media platforms. A marketing campaign will posted across social media with competitions to entice people to purchase the publication and to build a following to the publication and the social media accounts. Additionally a fully functional website will have been set up to promote the publication and to be able to sell Y. online to its audience. 2 year plan: Talks will have happened with galleries and small stockists about selling the publication in those locations. Also, the publication content will feature more well-known artists that the consumers want to read about, which will additionally get the publication more recognition. Y. will have a strong social media following with lots of interaction from the brand itself and from its online following. 5 year plan: Y. magazine will now be successfully selling online and in store in both the UK and internationally with a large following across social media platforms.
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To conclude, the aim of this unit was to produce a publication that successfully fills a gap in the market. Y. magazine has achieved this aim by being an art and lifestyle publication that does not focus on age but is aimed at those of a creative mind set and those that are willing to open their mind to the views of others. This project was the beginning research stages for Y. magazine, over the next 5 months more content will be produced and built up, and social media platforms will be created along with marketing campaigns in order to develop this publication further.
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Appendix
Appendix 1: brand onion diagram Brand in action Brand values Brand essence Brand personality
Appendix 2: Consumer survey
Appendix 3: Consumer survey
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Bibliography
https://martinotoole.wordpress.com/tag/brand-onion/ http://www.publishingnorthwest.co.uk/publisher/39 http://www.fluxmagazine.com/about-flux-magazine/ https://en.wikipedia.org/wiki/AIDA_(marketing) https://mycourse.aub.ac.uk/bafsc6/wp-content/uploads/sites/46/2016/09/report-structure-l6.pdf https://mycourse.aub.ac.uk/bafsc6/wp-content/uploads/sites/46/2016/10/L6-defining-your-brand.pdf http://added-value.com/2012/10/08/understanding-brand-positioning/ https://www.mindtools.com/pages/article/newSTR_94.htm http://www.houzz.com.au/ideabooks/70955507/list/top-10-plants-for-minimalist-gardens
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Image List
https://uk.pinterest.com/pin/515521488571224968/ https://uk.pinterest.com/pin/370350769339773383/ https://uk.pinterest.com/pin/116178865365097147/ https://uk.pinterest.com/pin/446771225512615734/ https://uk.pinterest.com/pin/560979697318121635/ https://uk.pinterest.com/pin/493566440395801241/ https://uk.pinterest.com/pin/411586853427889410/ https://uk.pinterest.com/pin/835417799596787383/ https://uk.pinterest.com/pin/230246599676295038/ https://uk.pinterest.com/pin/346143921344526750/ https://uk.pinterest.com/pin/508414245415073489/ https://uk.pinterest.com/pin/519462138247883193/ https://uk.pinterest.com/pin/128000814387134865/ https://uk.pinterest.com/pin/43839796349313083/ https://pbs.twimg.com/media/CkDZM6ZUUAA1qE9.jpg All illustrations by Amy Andrews
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