MEDIA PLAN FM315: Media Planning and Buying
Arisa Nishio Summer 2015
Media Plan Part I: Marketing Plan Company Background: Farfetch is an e-commerce website that cooperate with various independent fashion boutiques and designers clothing. It is founded in 2008 and based in London, United Kingdom. Currently, Farfetch has international branch including London, New York, Los Angeles, Porto, São Paulo, Guimarães and Japan. Its customers are able to purchase designer fashion brands for men and women including beachwear, coats, denim products, dresses, jackets, lingerie, underwear, tops, bottoms, knitwear, accessories, footwear, vintage products, and lifestyle products. These products are from fashion boutiques in Europe, North America, South America, and Asia. Ownership: Type – Private Key Contacts: Name
Job Title
Jose Neves
Founder & CEO
Luis Carvalho
Head of Development
Lino Leitão da Silva
Senior Web Developer
Andrew Robb
COO
Susanne Tide Frater
Brand and Strategy Director
Jing Feng
Customer Relations (Mandarin)
Sara Gomes
Visual Merchandising Manager
Kelly Kowal
Director of Digital Marketing
Boutros Noujaim
Investor
Target Markets: Demographic: Gender
Men and women
Age
25- 40
Education status
College degree or higher
Income
$40,000 more
Household status
Single, couple, or family with no children or 1 child
Psychographic:
Work for professional job
Be trendy
Be creative Have a passion in fashion, love fashion
Spend luxury products
Like traveling around the world
Eating at nice restaurants
Using e-commerce and m-commerce
Like shopping in-store and online
Marketing Message: The marketing message is to connect offline brick-and-mortar retailers with the online shopping community, and improve the efficiency of e-commerce for our business. Also, we approach to the international e-commerce to expand our business as well as growing luxury fashion market. Stakeholders: Investors and employees are main stakeholders.
Media Plan Part II: Corporate Analysis Goals for the product: •
Increase awareness and the number of customers internationally throughout social media, ecommerce and m-commerce by using local languages.
•
Differentiate from other luxury fashion e-commerce by connecting with more global retailers.
•
Build a team for technology, online marketing and customer service for our international branches to grow the brand loyalty.
•
Expand our international branches with local employees who are able to communicate in English and local language to develop e-commerce in various local languages
•
Develop payment system for various currencies
SWOT Analysis: Strengths •
Connecting stylish shoppers around the
Weaknesses •
engines in eight languages
world with independent boutiques and international brands •
•
•
Only having 7 international branches currently
Creating advanced advertising campaign automatically and scheduling paid search
Expanding globally across five search
•
Need more employees for technology,
advertising copy by using Adobe Media
online marketing, and customer service for
Optimizer
each international branch
Less competitors for luxury fashion ecommerce
Opportunities •
Threats
Hiring new excellent people from local
•
Expanding into new international markets
area and build a relationship with local
•
Effectively using non-brand keywords
customers •
Cooperating with local luxury fashion boutiques and expand product line through e-commerce
•
Increasing brand loyalties with new customers by utilizing advanced and automatic advertising
to reach new customers •
Understanding different sizes and different customer behaviors as a global
Market: We don’t have specific competitors, however there are similar competitors in same industry. •
ASOS - £975,470 in August, 2014
•
Net-a-Porter - £27 million in December, 2013
Media Plan Part 3: Target Market Target Audience For: We are looking for customers who love fashion and always want to be creative and fashionable. The main target is both men and women from 25 to 40 who have graduated college or higher, and work for professional jobs. The yearly income is more than $40,000 that they are able to spend discretionary income for luxury fashion products. We offer products to various customers from all over the world including Europe, Asia and North and South America, and we try to expand the area to target for more customers. For this media campaign, we are going to promote the brand awareness to various customers globally, so the main language is English, and we are going to utilize simple and easy words, so that customers are able to understand what we are promoting. We are going to add more photos and graphics into seasonal catalogs and various magazines. The ad campaign will be classic, modern, sophisticated and cohesive. List brand/product name: We have more than 300 visionary boutiques and offer various fashion brands and designer brands to customers.
Target Audience GEOGRAPHIC Location
Urban/Suburban
DEMOGRAPHIC/SOCIO-ECONOMIC Age
25- 40
Gender
Male and Female
Race
Various ethnicities
Income
$40,000 or more
Education
Higher than college graduate
Career
Professional jobs Apartment or house
Household size
Rent (monthly): $1,700 or higher
House: $2,000,00 or higher PSYCHOGRAPHIC
Lifestyle
Work for professional jobs
Like traveling around the world
Using e-commerce and m-commerce
Technical savvy
Spend luxury products
Eating at nice restaurants
Like shopping in-store and online
Go out with friend for shopping and having meal at nice restaurants
Do exercising, running, and go to gym
Reading professional and fashion magazines like Entrepreneur magazine and fashion magazines
Reading books or e-books on Kindle
Using Mac or Windows
The person who is interested in, haves passion for or loves fashion. Fashion is a part of his/her Attitudes/Beliefs
life that always looking for trends and new styles. Creating new styles for fashion is attitude and belief for fashionistas.
BEHAVIORAL
Purchase fast fashion brands and luxury brands
Purchasing Habits & Characteristics
Spend more money for fashion products
Online shopper use internet and mobile tools for shopping products
Media Plan Part 4: Media Objectives Since our business is mainly about e-commerce, we put more focus on e-commerce and mcommerce. The media we are focusing on including:
Social media including Facebook, Twitter, Instagram, Pinterest and Google+ is one of the most important media tools for getting customers. We always update these social media tools at least once a day with promotional details and photos which are attracting to our customers. Our customers are able to get new trends and information of our products. Also, we are associated with WGSN which offers current fashion trends and resources, so that customer are able to reach the most current fashion trends via WGSN.
E-commerce is the main object of our business that we have online shopping and post editorial blogs. We always try to upload following newest fashion trends and inspirations as well as online shopping that we offer the newest trends and products. For our editorial blogs, we post the most current trends with photos and seasonal collection for designers. In addition, we post guides with new trends, styles and fashion products, so that our customers try our new products with following these guides.
For the m-commerce, we launched mobile app for I-pad and I-phone in fall 2014. This app is free that mobile users can get shoppable travel guides from this app, and find and reach local boutiques in fashionable and trendy cities such as New York, London, Paris, Milan, Rome and Los Angeles. Not only offering app for Apple products, we try to launch it for Androids and Windows phones that we are going to expand more audiences and users. We also add more apps’ contents after launching it to various mobile phones.
We launched the first print ad campaign through in the UK, US, Germany, Australia and the Middle East from winter 2015. This campaign called “UNFOLLOW” that leads with the strapline “300 boutiques. 1 address”. It shows models wearing fashion pieces from Farfetch. The clothing without famous faces is challenging consumers to seek out the unexpected, to 'unfollow' the crowds. This campaign is successful print media campaign that we are going to launch it in more language including Japanese, Russian, Mandarin, Korean, Spanish and German in 2015. Following this successful print ad campaign, we seek to promote printing media to international fashion magazines as well.
ď‚&#x;
We do not focus on TV and radio because we try to get customers from all over the world, so we do not want to have target customers in specific one country. It will cost much money on TV ad if we are going to promote the campaign.
Media Plan: Flow Chart Print
Spring / Summer, March 2016 Seasonal Fall / Winter, September 2016
Vogue January 2016
Spring / Summer, March 2016
Seasonal
Fall / Winter, September 2016
ELLE
January 2016
Fashion magazines
Seasonal Marie Claire
Spring / Summer, March 2016 Fall / Winter, September 2016
January 2016 Seasonal GQ January 2016
Spring / Summer, March 2016 Fall / Winter, September 2016
Mail Whenever new products arrive
New product email
Monthly
Email Mail
Promotional email
Sales event
Promotional mail
3 months
Mail Catalog
Spring / Summer, March 2016
Sesonal
Fall / Winter, September 2016
E-commerce
Social media
Facebook, Twitter, Instagram, Pinterest and Google+
1 post per day Holiday, Season 2 - 3 posts per day Editorial blog
E-commerce
WGSN
1 post per week
Editorial blog Website Promotional photo
Inspirational board including concepts, colors, designs, and styles
M-commerce New products' arrival notification Sales events' notification M-commerce
Mobile app Editorial blog Promotional photo
Print Magazine
The number of page
Total page
monthly
number per
Circulation
Cost
Total cost per year
year Vogue
1 page: Monthly
14 pages
1,200,000
$11,268.75
2016
per full page
2 pages: Seasonal,
full color ad
March and
monthly
$157,762.5
September 2016 ELLE
1 page: Monthly
14 pages
1,125,536
$11,444.17
2016
per full page
2 pages: Seasonal,
full color ad
March and
monthly
$160,218.38
September 2016 Marie Claire
1 page: Monthly
14 pages
1,007,712
$18,543 per
2016
full page full
2 pages: Seasonal,
color ad
March and
monthly
$259,602
September 2016 GQ
1 page: Monthly
14 pages
925,000
$11,011.17
2016
per full page
2 pages: Seasonal,
full color ad
March and
monthly
$154,156.38
September 2016 Total=$731,739.26/ First year Mail Mail
Promotional mail
Quantity
1,000
Size
6”×12” postcard
Paper stock
16 point cover with UV coating
Delivery
8 days
Additional
no mailing system and layout service
Additional quantity
2,500 – $530.00 5,000 – $700.00
Total cost
$372.00 ×3 months
Catalog Page size
5.5”×8.5”
Pages
20pp (cover = 4, inside = 16)
Binding
Saddle-stitched
Binding placement
Left side binding
Paper for inside page
Full color
Cover page
14pt. cardstock gloss
Quantity
1,000
Delivery
6 business days
Total cost
$913.89 ×2 seasons
E-commerce
Social media Free for posting own page, not ad on social media
M-Commerce App E-mail Login
$4,763
Social Login
$9,525
Rating System
$19,050
Activity Feed
$9,525
User Profiles
$19,050
Compass
$9,525
Geolocation
$9,525
Maps
$14,288
Camera / Video
$9,525
Audio / Music
$9,525
Gallery - Photo / Video
$14,288
Search
$19,050
User Privacy Settings
$9,525
SMS Integration
$19,050
Social Sharing
$9,525
Calendar Integration
$14,288
Sync across All Devices
$19,050
Approval / Moderation
$23,813
Feedback System
$38,100
Reporting
$28,575
Content Management System
$57,150
Payment Administration
$28,575
User Administration
$38,100
Shopping Cart
$38,100
Messaging
$14,288
Accept Payments
$14,288
Custom User Interface
$38,100
Total
$538,166
Total media cost = approximately $1,272,849.04 in the first year (depending on how many mails and catalogs that we are going to send to our customers)
Work Cited: "Analysis: Knowledge Bank Company Profile - Luxury Fashion Etailer, Net-a-Porter." Analysis: Knowledge Bank Company Profile. Web. 25 Aug. 2015. <http://www.retail-week.com/sectors/fashion/analysis-knowledge-bank-company-profileetailer-net-a-porter/5045352.article >. "Careers." Farfetch.com. Web. 25 Aug. 2015. <http://www.farfetch.com/pag1986.aspx?ffref=ftr>. Davies, Jessica. "Keeping Tabs on Consumers: Tracking the Multichannel Customer Journey." Web. 1 Sept. 2015. <http://www.thedrum.com/news/2013/02/04/keeping-tabs-consumers-tracking-multichannelcustomer-journey>. "EDDM Post Cards & Mailing." EDDM Post Cards, Every Door Direct Mail (EDDM), Postcard Mailing, EDDM Postcard Printing Service. Web. 14 Sept. 2015. <http://www.alta-graphics.com/printed-products/post-card-printing-mailing.html>. "ELLE Media Kit 2015." ELLE. Web. 14 Sept. 2015. <http://www.ellemediakit.com/hotdata/publishers/ellemk/advertiser/8231536/2818385/ELLE2015-Media-Kit.pdf>. "Farfetch Brings Boutique Fashion to International Shoppers." Adobe. Web. 25 Aug. 2015. <http://www.adobe.com/content/dam/Adobe/en/customer-success/pdfs/farfetch-casestudy.pdf>. "Farfetch." - Current Team. Web. 25 Aug. 2015. <https://www.crunchbase.com/organization/farfetch/people>. "Farfetch.com Limited: Private Company Information." Bloomberg.com. Bloomberg. Web. 25 Aug. 2015. < http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=109241746>. "Farfetch | Discover Farfetch's Company Page | The Business of Fashion." Farfetch's Page. Web. 25 Aug. 2015. <http://www.businessoffashion.com/community/companies/farfetch>. "Farfetch Launches Discover App For IPad." Fashion Times RSS. 27 Apr. 2015. Web. 1 Sept. 2015. <http://www.fashiontimes.com/articles/20376/20150427/farfetch-launches-discover-app-foripad.htm>. "Farfetch Launches First Ad Campaign." WWD. 8 Feb. 2015. Web. 1 Sept. 2015. <http://wwd.com/globe-news/advertising/farfetch-launches-first-ad-campaign-8163562/.> "Farfetch Urges Fashion Lovers to 'Unfollow' with New Global Ad Campaign via Droga5
Europe." Campaign Brief Australia. Web. 1 Sept. 2015. < http://www.campaignbrief.com/2015/02/farfetch-urges-fashion-lovers.html>. "Fashion Marketplace Farfetch Raises $86M Led By DST At A $1B Valuation." TechCrunch. Web. 25 Aug. 2015. <http://techcrunch.com/2015/03/04/farfetch/>. "Financial Review." – ASOS Plc. Web. 25 Aug. 2015. <http://www.asosplc.com/investors/2014-year-in-review/financial-review.aspx>. "Givenchy
Fall/Winter
2015/2016
Campaign
|
The
Fashionography."
The
Fashionography. 24 June 2015. Web. 14 Sept. 2015. <http://thefashionography.com/givenchy-fall-winter-2015-2016-campaign/>. "GQ – Media Kit Print | Condé Nast." Condé Nast. Web. 14 Sept. 2015. < http://www.condenast.com/brands/gq/media-kit/print/rates>. "HOT COMPANY PROFILE: Boutique Fashion Marketplace Farfetch." StrategyEye. Web. 25 Aug. 2015. <http://digitalmedia.strategyeye.com/article/ajxMrROy9eo/2012/02/07/hot_company_profile_ boutique_fashion_marketplace_farfetch/>. "Marie Claire Media Kit." Marie Claire Media Kit. Web. 14 Sept. 2015. <http://www.pacificmagazines.com.au/pages/Magazines/MediaKit.aspx?mid=c00aede5-fc254ae8-9d7f-5b4689d112ff>. Mortimer, Natalie. "Farfetch Targets Fashion Fans with First Global Ad Campaign." Web. 1 Sept. 2015. <http://www.thedrum.com/news/2015/02/12/farfetch-targets-fashion-fans-first-global-adcampaign>. "News." VOGUE ITALIA SPRING SUMMER AD CAMPAIGN. Web. 14 Sept. 2015. <http://www.thomaswylde.com/press/vogue-italia-spring-summer-ad-campaign/>. "Otreva: How Much Does It Cost To Build an App?" How Much to Build An App? Web. 14 Sept. 2015. <https://www.otreva.com/calculator/#>. "Top 100 U.S. Magazines by Circulation." Psaresearch. Web. 14 Sept. 2015. <http://www.psaresearch.com/images/TOPMAGAZINES.pdf>. "Vogue – Media Kit Print | Condé Nast." Condé Nast. Web. 14 Sept. 2015. <http://www.condenast.com/brands/vogue/media-kit/print/rates>. "Wholesale Catalog Printing." Order Wholesale Catalogs. Web. 14 Sept. 2015. <http://www.uprinting.com/bulk-catalog-printing.html>.