Executive Summary: ................. 4 Introduction ............................... 7
CHAPTER ONE: ....................... 8 Brand Introductions and Analysis ........................ 9
CHAPTER TWO: ............................................ 14 Target Consumer and Luxury Consumer ............. 15 Primary Research ........................... 17 Millennials and Luxury Brands ........................ 19
CHAPTER THREE ........................ 22
Marketing and Social Media .............................................................. 23 Store Analysis and Marketing ............................................................ 27 PESTLE – Versace................................................................................ 33 PORTERS 5 – Versace......................................................................... 35 PESTLE and Porters 5 Combined Analysis .................................... 35
CHAPTER FOUR: ................................... 36
SWOT Analysis; Strengths, Weaknesses, Opportunities and Threats. ............................... 37 Brand Comparison .................................... 39 Conclusion ........................................... 45 Reference List..................................... 46 Bibliography.......................................... 47 Image Accreditation ......................... 48
Appendix............................................... 49 Appendix A ............................................ 50 Appendix B ............................................ 51 Appendix C ............................................ 52 Appendix Reference List ....................... 53
EXECUTIVE SUMMARY
The aims of this report are to analyse established brand Versace and upcoming brand The Vampire’s Wife and to compare and understand how to gain a favorable place within the global marketplace. The research conducted includes both primary and secondary; books and websites as sources for secondary and flagship store analysis alongside a survey for primary data. Through this data, the findings show how Versace managed to turn around their diffusion line and maintain their brand popularity through relevant marketing strategies. In addition to this the upcoming brand, The Vampire’s Wife shows promise although they lack the essence of a luxury brand within regards to their minimal campaigning, their social presence continues to be strong and encourages brand growth. Structured advice for each brand should enable them to continue to grow within the global luxury marketplace. Key words: Versace, The Vampire’s Wife, Global Marketplace, Marketing Strategies and Luxury Brand.
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INTRODUCTION
The aim of this project is to investigate and gain an understanding of how an upcoming brand and established brand can learn from one another within the luxury global marketplace and how they can gain a favourable place within the market for the future. For the purpose of this report, the focus will be on brand examples such as, established brand Versace in comparison to upcoming brand, The Vampire’s Wife and how their marketing strategies differ and whether their marketing methodologies would hinder or benefit each other. The report will be broken down into chapters; chapter one will introduce each brand and include their company’s analysis, chapter two will look at the brands target consumers and the luxury consumer with research into what a luxury consumer is. Chapter three will look at how their brand identity is marketed and the role of social media within this, the PESTLE model and Porters 5 will be employed to analyse Versace and The Vampire’s Wife more thoroughly. Moving on to chapter four which will look conclusively at the pros and cons of both brands, then concluding with advice on how the established brand and upcoming brand can learn from each other to continue or grow favourably within the Luxury Global Marketplace (see appendix A for further information).
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50%
20% 17.5% 4%
BRAND INTRODUCTION AND ANALYSIS
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Versace is a globally recognised Italian brand, the company was founded in 1978 and was fully controlled by Gianni Versace until his demise in 1997. The business is family ran, Donatella became Creative Director after Gianni’s death and Santo continued running the business areas within the company (Editor, 2016). In order to move forward, Versace opened up to the prospects of various stakeholders to enable growth and extra profitability, social media played a huge part in this as Versace relied on the use of Facebook to ‘engage stakeholders’ (Coombs & Holladay, 2013). Donatella’s daughter, Allegra was left a 50% stake in the company which she gained control over on her eighteenth birthday, in 2014 Blackstone bought a minority stake of 20% in the company (Mau, 2014). The company has numerous stores worldwide including flagship stores situated in London, Milan, New York etc. Product ranges include homeware, fragrance, accessories, eyewear and of course apparel (womenswear, menswear, babies/infants and adolescents/early teens). The revenue in 2016 grew by 4% which posted a loss from Versace in comparison to their revenue of 2015 which showed a 17.5% increase (Muret, 2017), 2017 is supposed to show another profitability increase due to more stores opening in 2016 and four stores opening in the first retail quarter of 2017.
CHAPTER ONE
BRAND INTRODUCTION AND ANALYSIS
The Vampire’s Wife is a luxury brand with their headquarters in Brighton, head designer and owner is famous model Susie Bick and her friend Alex Adamson. The company was founded in 2015, and started with a capsule collection which moved onto a S/S2016 campaign collection. There are no stores available that stock the brand yet but it can be primarily found online via their own webstore or on Matches Fashion or Liberty London. In order for the business to continue, the company opted to use Seedrs which enabled investors to invest in the company for things like fabrics and their S/S16 campaign. Although the Vampire’s Wife sought £150,000, they managed to gain £168,540 instead through Seedrs in April 2016 (Seedrs, 2016).
“The Vampire’s Wife distils these influences into something that is practical, delicate, modern, and simple.” - (Bick, 2016) Their product range includes apparel, limited to only womenswear currently with no accessories. Online on their website alongside sales, the brand includes posts about day to day life in a way to communicate on a personal level with consumers and press that the brand has received such as a Vogue US interview (Vogue US, 2017)
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TARGET CONSUMER AND LUXURY CONSUMER
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Versace marketing could be said to be originally aimed at the upper-class luxury market, consumers who were able to afford their leather goods and ready-to-wear garments. This is a global brand that has continued to expand through Europe, America and Asia with a 16% rise in revenue for China in 2015 and a 30% increase in Europe (Staff, 2016). Their current target consumers range from the baby boomers to millennials which are targeted via relevant celebrity endorsements and social media through direct communications. According to a flagship store employee the target customer ranged from 12 upwards as the younger generation is appealed by the ‘loud prints’. In 2012, Versace became one of the first brands to offer all its ranges directly online, it was an online strategy to “increase brand awareness and strengthen direct communication” (Clews, 2012). Another way to target consumers is through diffusion lines, these are placed in the mid-market, so brands can gain more consumers through lower price tags; the diffusion line for Versace is Versus (refer to appendix B for more information). An everyday woman of any age would describe the target consumer for The Vampire’s Wife, their market is described as “Tech savvy women who are independent individuals not necessarily served by the high street or high-end couture fashion” (Seedrs, 2016). With the age range being completely open, the consumers are only really restricted by the available ranges i.e. purely women. The Vampire’s Wife is a luxury brand with a ‘Westwood Red Label’ (Cochrane, 2015) price range but marketed to any woman who loves fashionable garments. Similarities between Versace and The Vampire’s Wife are the age groups that they market towards; the brands are open to consumers of all ages.
CHAPTER TWO
PRIMARY RESEARCH
A luxury consumer is someone who would purchase luxury products. Although both brands are luxury brands, what defines them as luxury? The word luxury is to be thought of differently by each individual but by definition ‘a state of great comfort or elegance, especially when involving great expense.’ (Murray, 2010). A survey was created to investigate opinions on ‘luxury’ from random people of different age groups and if the data collected showed similarities or a majority opinion. Within my survey the questions openly asked, ‘What luxury meant?’ and also gave them a multiple-choice option in response to what luxury is when it comes to products and brands. The overall majority of data for what defines luxury resulted in ‘high quality’ and ‘expensive’ which is similar to the direct definition. Versace translate their luxury image through their primary social media channels and their flagship stores. Similarly, the aesthetic throughout their online content is represented in the layout of their store such as simplicity, elegance and colours. The Vampire’s Wife translates their online store and Instagram by showcasing the lifestyle behind the brand i.e. where people wear the clothes, the muses and inspirations behind the brand. From the primary research the data cohesively relates back to both brands as they offer high price ranges, quality products and fabric choices. Non-essential is ideally relevant to both as neither brand offer products you would consider mandatory life essentials.
DO YOU CONSIDERYOURSELF TO BE A LUXURY CONSUMER? VIA SURVEYMONKEY
YES 48.78% NO - 51.22%
YES
NO Figure 1 - Luxury consumer pie chart via survey monkey https://www.surveymonkey.co.uk/r/W3SF2DZ
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MILLENNIALS AND LUXURY BRANDS
Branding has altered massively since the pre-internet stage, Donatella said “Fashion is now in the hands of the millennials.” (Spellings, 2017). Versus, Versace’s sister line is directed at a younger generation, this is apparent in the way they market. Targeting a specific segment such as Instagram, which is used by millennials primarily. It’s resurrection in 2009 spurred a change of direction through a variety of strategies. These strategies were defining relevant social media tones, creating engaging content with micro influencers (see appendix B), exclusive capsule collections, debuting runways for Versus in London and lastly joining the sustainability movement (Ryan, 2017).
“We have to worry, how to bring Versace into the 21st
Century, how to keep Versace relevant.” - (Versace, 2015) Using technology to engage with millennials was a technique to ‘boost revenue’ and engage in interactions via social media platforms to create a buzz around Versace; such as creating their own hashtag - #VersaceTribute (see appendix B).
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C
MARKETING AND SOCIAL MEDIA
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Celebrity endorsements are key in multiple Versace campaigns and collections, Donatella collaborated with Zayn Malik on a Versus Versace collection this year. Appealing to a younger market via current celebrities within the target consumers age group. Donatella was quoted saying “the campaign defines everything I love about the new generation today” about the Malik collaboration (Pike, 2017). Alongside this, celebrities can generate a bestseller for the brand by being seen wearing certain garments i.e. the Versace robe which was seen being worn inside and outside by celebrities such as Snoop Dogg and Drake. Social media creates a buzz around the item which customers now want to purchase to imitate their aspirational groups (see appendix C) and it becomes a bestseller.
“Sometimes, you go to a show and the lighting is wrong for an iPhone, and you think, ‘You just shouldn’t have had this show.’”- Will Welch
Head designer of The Vampire’s Wife has many celebrity friends who wear the brands garments to events and also whom are fans of her musician husband, Nick Cave. The brand stated that their marketing would gain consumers through the following of Susie and Nick (Seedrs, 2016), considering they have a fan-base already through their other careers. Most recently Alexa Chung and Florence Welch have been pictured wearing The Vampire’s Wife, invited by Susie Bick to a party for Nick Cave, these images were uploaded to social media site Instagram where the brand has most of their following.
CHAPTER THREE
STORE ANALYSIS AND MARKETING
The Versace flagship store in London proved how ‘luxury’ can be felt by brand experience alone. The introduction into the store by an employee who greets you warmly, introducing a feeling of importance, alongside how the employees cater to your own individual needs and wants from the brand. Store visuals were pristine and the products were arranged with a finger space between them but not overcrowded which made the products feel more special. Cleverly the brand placed their own furniture around the store for customers to sit on and engage with and since the flagship expanded into a larger space, their homeware section has been clarified as the most popular range. The Vampire’s Wife had no stores to showcase their collections, they market online on the website Liberty London but in store there was no sign of the upcoming brand.
Figure 2 - Versace Look Book within the London Flagship.
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See appendix C for further information on the PESTLE method. Political – The Italian brand is predominantly known for its leather goods alongside other Italian brands, due to ethics and legality the leather has to be labelled correctly. Being globally marketed, the company has to take care to cover and respond appropriately within all legal areas (GOV.UK, 2017).
PESTLE - VERSACE
Economical – Globally marketed, the company is still affected by recessions and profit loss. 2016 posted a loss for the brand in comparison to the 17.5% revenue increase in 2015, although the brand still continued to broaden its distribution channels by investing in the network, the increase was of a minimal 4% for 2016 (Muret, 2017). Social – Appealing to target consumers by using current celebrities for their campaigns and brand ambassadors i.e. Lady Gaga. More recently they appealed to their earlier consumers with a revival catwalk, showcasing past Versace supermodels on the runway (ref). A nostalgic and creative marketing method appealing to older and younger generations alike. Technological – Taking control of their digital audience, the brand has demonstrated their ‘technological-savviness’ to try and keep up with the internet era such as live periscopes (Sorin, 2015) and the features on their website allow the consumers to personal their current shopping experience. Versus Versace engages socially with their audience in an advanced technological way such as the structure and content of their social media channels in relation to the consumers interests; i.e. relevant celebrities, edgier content etc. Ecological – 2017 saw the alternative of Vegan Leather goods with Zayn Malik’s Versus collection (Pike, 2017) offering a substitute to one of the companies most profitable areas (Bifusa, 2015) to engage a modern audience. This collection also won the ethical fashion award from PETA UK for its Versus Vegan alternatives (Flores, 2017).
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Figure 3 - Porters 5 Forces diagram 2016 - https://medialabamsterdam.com/businesstoolkit/files/2016/09/BMT_icons-01-1024x1024.png
See appendix C for further information on the Porters 5 Forces method.
PORTERS FIVE FORCES - VERSACE
Entry – Versace has been established for a number of years, loyalty to the brand from consumers can consider the threat of new entrants to be relatively low. Rivalry – Online, Versace offers similar services to most brands such as personalising shopping experiences. Quality of leather goods would be another competitive comparison; Italian leather is popular and known to be one of the better qualities. Depending on which area there is rivalry depends on the height of threat, could be conceived of low to moderate threat levels. Substitutes – There are numerous counterfeit products, Versace state on their company profile that all products bear “the distinctive Medusa logo” (Versace, 2017). Although counterfeiters do try and imitate the products, Versace offer a Certigo Code system (Versace, 2017) to enable customers to check the authenticity. Level of threat can be conceived as low. Buyers – Not much can be found for the quantity of manufacturers, in relation to the lack of evidence the only conclusion that can be made is that of neutral ground. Such as a moderate threat. Suppliers – According to the company profile there are over 1500 wholesalers worldwide (Versace, 2017) which places the bargaining power of supplier relatively high.
PESTLE AND PORTERS FIVE FORCES - THE VAMPIRES WIFE Below is a diagram of a combined PESTLE and Porters 5 Forces analysis of The Vampire’s Wife, as an upcoming brand an overall analysis explained more. The diagram explains the external factors that affect, the actions of the brand and the internal analysis results from the actions. These assist in understanding how the brand can gain the most profit.
More technologically advanced i.e. Burberry
Labelling Suppliers
Political/Legal
Technological Rivalry
Buyers/Shareholders Economical Recession and Profitibility
Social
The Vampire’s Wife Ecological
Entry Stronger female market
Substitutes Vegan Leather: Modern Audience
Figure 4 - PESTLE and Porters Five Forces Diagram based around The Vampire’s Wife.
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SWOT ANALYSIS - THE VAMPIRE’S WIFE
SWOT ANALYSIS - VERSACE
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Strengths – Wide range of high quality prod-
Weaknesses – Versace has consumed most
Opportunities – The Versus line is aimed at
Threats – Technologically advanced brands
Strengths – The brand has a strong social
Weaknesses – Online purchasing restricts some
Opportunities – Expansion is an option to
Threats – Lacking in marketing campaigns, stores
ucts, a globally recognised company that is reliant on changing with the generations as their brand continues. Profitability should increase through the expansion of more stores this year and the stakes already sold to Blackstone.
the younger generation which attracts other possible consumers. If the brand continues branching out via using sustainability, artistic social media layouts and popular, relevant celebrities, they can improve their profitability and expand into other secondary lines.
media presence and multiple celebrity followers who promote their garments at events which in turn are then posted on social media to encourage followers and visibility.
engage a larger consumer base, such as introducing menswear, accessories and shoes to ultimately increase profit.
of the global marketplace and expanded numerous times, there may be limits to their expansions as they have conquered most apparel, homeware and even architecture which may lose some of their brand credibility if they run out of current ideas.
such as Burberry pose a huge threat for Versace as they may fall short when marketing to their younger consumers who grow with the internet and technology and can become bored with what’s already happened, they strive for the new.
consumers as the brand cannot be purchased in stores, so people cannot gain a brand experience or feel the quality or fabrics.
and expansion, the brand falls to threat of lagging behind. If the brand isn’t willing to grow, it lacks the maturity to enter the global marketplace as a luxury design brand.
CHAPTER FOUR
BRAND COMPARISON
Versace continues to grow as a worldwide brand, their London flagship offered unique marketing techniques which were clever to incorporate brand experience alongside homeware sales opportunities. Their expansions seem endless and futile currently, the brand should consider the disadvantage, as expanding reduces their overall profit. A current rise of 3.4%, (Inside Retail Asia, 2017) quoted that “expansion led to a consolidated loss of €7.4 million” which overall creates a huge loss if the sales aren’t being made within those new stores. Asia continued to be one of the highest performers of Versace sales; an 8.8% rise Inside Retail Asia, 2017). Moving forward, Versace should resume concentration on the line and diffusion line as it has continued to gain popularity since the Zayn Malik collaboration, even winning the PETA award for its ethical fabrics (PETA UK, 2017). The company’s e-commerce is a thriving area with consumers being able to personalise their own Versace brand experience alongside their social media that defines different and appropriate tones depending on whom they are marketing towards. Focusing on the newer generations the brand should continue with their sustainability and ethical footprint, as well as their celebrity endorsements as these campaigns attract possible consumers. In addition, Versace have an advantage as the price range targets a variety of different income levels so their profitability is not limited by income and stature.
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BRAND COMPARISON
The Vampire’s Wife had been described by (Cochrane, 2015) as having a ‘Westwood Red Label’ price range, the brand may offer high quality and luxury materials and their prices are similar to that of established brand Versace but they don’t offer as many products therefore their pricing choices could be considered ‘exclusive’ due to the limited stock. Lack of advertising and campaigns are evident but the brand demonstrates their garment popularity with celebrities through social media, as a relatively new brand this is a cost-effective way to market directly to the public. Although the Vampire’s Wife have an active social presence compared to Versace they probably don’t use it to their full potential i.e. with hashtags, defining relevant social media tones. Their target consumer is described as a ‘tech savvy everyday woman’ (Seedrs, 2016), a disadvantage could be limiting their profits but only marketing to one specific segment as opposed to being open to other possible consumers. Luxury brands are generally recognised for signature products and for expanding their product lines, The Vampire’s Wife seems in no hurry to expand on their current womenswear range by exploring accessories or even menswear. Their signature products could be described as their dresses but the advantage there is that it’s one of the few products they offer. Also, the products available don’t scream what brand it is like Versace with their extravagant medusa, it lacks a specific brand identity which would only benefit The Vampire’s Wife by increasing their exposure and reputation.
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In conclusion, The Vampire’s Wife is an upcoming luxury brand which offers distinctive garments for the everyday woman that can portray sex appeal without plunging necklines and visible skin. There are no accessible stores or pop-ups that sell the brand as of yet, so their products can only be purchased online from their own website or other suppliers such as Liberty London. External environment analysis shows that the economy is a large factor for any brand to succeed; without investors, the brand could’ve possibly gone out of business. For the future, defining brand identity via more prominent logos and advertisements would be ideal in order to gain more consumers and brand awareness which would increase their revenue and online traffic. Versace has been established since 1978 and has gained a successful brand reputation and loyalty from customers worldwide. The strategies they use for their social media such as separating their main account from their diffusion line by appealing to each individual market directly shows how evolved the brand is within understanding their customers. Although the company demonstrates strong e-commerce, with modern technology advancing fast, those are the areas the brand should take focus on rather than with continuous expansion. Within stores, homeware is providing a lot of the profit but there is lack of campaigning and advertising for these products so as a future plan, make customers and possible consumers aware of all available ranges through marketing strategies.
CONCLUSION
Bick, S. (2016, May 18). Nick Cave’s Wife Is Making Bewitchingly Beautiful Dresses. (K. A. Vogue, Interviewer) Bifusa. (2015, June 2). What Makes Italian Leather So Special? Retrieved from Bifusa: http://www.bifusa.com/what-makes-italian-leather-so-special/ Clews, M.-L. (2012, September 19). Versace Takes Control of Digital Customers. Retrieved from Marketing Week : https://www.marketingweek.com/2012/09/19/versace-takes-control-of-digital-customers/ Cochrane, L. (2015, May 15). Susie Bick: the 90s model on her new womenswear label. Retrieved from The Guardian: https://www.theguardian.com/fashion/fashion-blog/2015/ may/15/susie-bick-the-90s-model-on-her-new-womenswear-label Editor, T. (2016, December 16). Santo Versace Businessman and Politician. Retrieved from Italy on this Day: http://www.italyonthisday.com/2016/12/santo-versace-businessman-and-politician.html Flores, B. (2017, November 11). ZAYN MALIK’S VEGAN LEATHER VERSACE COLLECTION WINS ETHICAL FASHION AWARD. Retrieved from Live Kindly: https://www. livekindly.co/zayn-maliks-vegan-leather-award/ GOV.UK. (2017, N/A). Product labelling: the law. Retrieved from GOV.UK: https://www. gov.uk/product-labelling-the-law Inside Retail Asia. (2017, July 5). Versace revenues up, but expansion hammers profit. Retrieved from Inside Asia: https://insideretail.asia/2017/07/05/versace-revenues-up-but-expansion-hammers-profit/ Mau, D. (2014, February 27). VERSACE SELLS MINORITY STAKE TO COMPANY THAT JUST INVESTED IN CROCS. Retrieved from Fashionista : https://fashionista. com/2014/02/versace-sells-minority-stake-to-company-that-just-invested-in-crocs Muret, D. (2017, July 7). Versace posts loss for fiscal year 2016 despite revenue growth. Retrieved from Fashion Network UK: http://uk.fashionnetwork.com/news/Versace-postsloss-for-fiscal-year-2016-despite-revenue-growth,848090.html#.Wg8AhUycbEM Murray, J. (2010). Oxford Dictionary of English. London: Oxford University Press. PETA UK. (2017, N/A). PETA Fashion Awards 2017. Retrieved from PETA UK: https:// www.peta.org.uk/living/peta-fashion-awards-2017/ Pike, N. (2017, June 19). Zayn’s Versus Versace Collection Is Here. Retrieved from Vogue: http://www.vogue.co.uk/gallery/zayn-versus-versace-collection-2017 Ryan, R. (2017, November 21). How Donatella Versace Is Successfully Targeting Millennials With Versus. Retrieved from Promo Mag News: https://promomagnews.com/ blog/2017/11/21/how-donatella-versace-is-successfully-targeting-millennials-with-versus Seedrs. (2016, N/A). The Vampire’s Wife. Retrieved from Seedrs: https://www.seedrs. com/thevampireswife Seedrs. (2016, N/A). The Vampire’s Wife. Retrieved from Seedrs: https://www.seedrs. com/thevampireswife/sections/market Sorin, K. (2015, April 14). Versace shows its technological-savviness via live-stream app Periscope. Retrieved from Luxury Daily: https://www.luxurydaily.com/versace-shows-itstechnological-savvy-with-live-stream-from-new-app-periscope/ Spellings, S. (2017, June 19). Donatella Versace Says Fashion Is Now in the Hands of Millennials. Retrieved from The Cut: https://www.thecut.com/2017/06/donatella-versace-says-millennials-control-fashion-now.html Staff, R. (2016, March 24). Versace posts double-digit rise in core profit for 2015. Retrieved from Reuters: https://www.reuters.com/article/us-luxury-versace-results/versaceposts-double-digit-rise-in-core-profit-for-2015-idUSKCN0WQ1XP Versace. (2017, N/A). Authenticity . Retrieved from Versace: http://www.versace.com/gb/ en-gb/customer-care/authenticity.html Versace. (2017, N/A). Company Profile. Retrieved from Versace: http://www.versace.com/ gb/en-gb/about-us/company-profile.html Versace, D. (2015, February 27). Donatella Versace Interview | In The Studio | The New York Times. (T. N. Times, Interviewer) Vogue US. (2017, August N/A). The Vampire’s Wife, Talking Fashion, The Hunger. Retrieved from The Vampire’s Wife, Press: https://thevampireswife.com/hunger-vogue-us/ W. Timothy Coombs, & Holladay, S. (2013). Post-Social Media Internet Activism. In S. J. W. Timothy Coombs, It’s Not Just PR: Public Relations in Society (2nd Edition ed., p. 1954). Chichester: John Wiley & Sons.
REFERENCE LIST
BIBLIOGRAPHY BOOKS Capella, M. (2006). VERSACE il genio della moda e l'arte. Italy: Edizioni Gabriele Mazzotta. Kapferer, J. N., & Bastien, V. (2009). The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands. London: Kogan Page. Wilcox, C., Mendes, V., & Buss, C. (2002). The Art and Craft of Gianni Versace. London: V&A Publications.
JOURNALS Bian, Q., & Forsythe, S. (2011). Purchase intention for luxury brands: A cross cultural comparison. Journal of Business Research, 1443. Kapferer, J.-N. (1988). Why are we seduced by luxury brands? Journal of Brand Management , 44-45. Mandel, N., Petrova, P. K., & Cialdini, R. B. (2006). Images of Success and the Preference for Luxury Brands. Journal of Consumer Psychology, 57-69.
WEBSITES Allwood, E. H. (2015, May 19). Decoding Rihanna’s Dior campaign. Retrieved from Dazed Digital: http://www.dazeddigital.com/fashion/article/24787/1/decoding-rihanna-s-dior-campaign Angus, J. (2017, July 26). GOLDEN HOUR IN THE VAMPIRE’S WIFE. Retrieved from Juliet Angus : http://www.julietangus.com/fashion/golden-hour/ Fisher, L. A. (2017, February 9). 9 Rising Designers to Watch This Season. Retrieved from Harpers Bazaar: http://www.harpersbazaar.com/fashion/fashion-week/g2933/new-designers-toknow-0913/ Gilliland, N. (2016, October 19). 10 examples of great fashion marketing campaigns. Retrieved from Econsultancy: https://www.econsultancy.com/blog/68404-10-examples-of-great-fashionmarketing-campaigns Hurst, S. (2016, March 16). High Fashion Meets Crowdfunding: Susie Cave’s Line “The Vampire’s Life” Seeks £150,000 Through Seedrs. Retrieved from Crowd Fund Insider: High Fashion Meets Crowdfunding: Susie Cave’s Line “The Vampire’s Life” Seeks £150,000 Through Seedrs Hyder, S. (2017, March 13). Luxury Brands: 4 Secrets To Marketing In The Digital Age. Retrieved from Forbes: https://www.forbes.com/sites/shamahyder/2017/03/13/luxury-brands-4-secrets-tomarketing-in-the-digital-age/#10a021e862ca
MISCELLANEOUS (McCreesh. N, 2017, International Marketing & Brand Management: Introduction Prezi Slides) https://prezi.com/juahdrcfs1ue/imbm-introduction-to-the-module/?utm_campaign=share&utm_ medium=copy (McCreesh. N, 2017, Interpreting & Writing Up Research Material Prezi Slides) retrieved from https://shuspace.shu.ac.uk/bbcswebdav/pid-7496551-dt-content-rid-15922264_2/courses/55702138-AF-20178/prezi.pdf (Mtonga. V, 2017, Marketing Environment, PowerPoint slides) retrieved from https://shuspace. shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_id=_307981_1&content_ id=_7478248_1 (Mtonga. V, 2017, Micro Marketing Environment PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_id=_307981_1&content_ id=_7485730_1.
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(Alas & Piggott, 2011, p. 14) retrieved from https://www.popsugar.com.au/fashion/ HM-Designer-Collaborations-History-35986564 (Alas & Piggott, 2014, p. 6) retrieved from https://pbs.twimg.com/media/Brj5ZhpIMAIWtq4.jpg (Bennett. D, 2017, p. 10) retrieved from https://style.nine.com.au/2017/11/24/10/44/vampire-kiss-metallic-part-dress-christmas/3 Figure 1 (Kemp. C, 2017, p. 17) retrieved from https://www.meta-chart.com Figure 2 (Kemp. C, 2017, p. 27 retrieved from London Flagship Versace Store. Figure 4 (Kemp. C, 2017, p. 35 ) retrieved from https://www.draw.io (Footstool Workshop, N/A, p. 1 & 56) ‘Crushed Black Velvet’ retrieved from https://www. thefootstoolworkshop.co.uk/14-x-14-cube/744-crushed-velvet-black-cube-rr.html (Gianni Versace: La Biografia, 2012, p. N/A in book, p. 43) retrieved from https://www. abbeville.com/authors/gianni-versace-490 (Hadid. G, 2017, p. 18) Versus X Zayn Malik retrieved from https://www.pinterest.co.uk/ pin/486248091004395015/ (Hadid. G, 2017, p. 20) Versus X Zayn Malik retrieved from https://i.pinimg.com/736x /89/02/00/8902005594db0d17d7e570a37d728d18--zayn-malik.jpg (Issermann. D, 2012-2013, p. 24) retrieved from https://www.billboard.com/biz/articles/ news/digital-and-mobile/1518872/exclusive-kobalt-launches-label-services-division-preps (Issermann. D, 2012, p. 42) Stiletto Editorial retrieved from https://i.pinimg.com/originals/7e/07/16/7e071625044721478faaf7696739f7bb.jpg (Issermann. D, 2012, p. 25) retrieved from https://i.pinimg.com/736x/67/3b/f1/673bf1bbacec0079b23c85b53fe378fc--dominique-caves.jpg (Issermann. D, 2012, p. 44) Stiletto Editorial retrieved from http://1.bp.blogspot.com/-ojCcfYkUttM/UMiUFxH5mKI/AAAAAAAAKbA/Ofmg0certME/s1600/rs-1212-stiletto-04.jpg (Issermann. D, 1998, p. 12 &13) ‘Susie on the Swing’ retrieved from https://thevampireswife.com/susie-on-the-swing/ (Kemp. C, 2017, p. 16) retrieved from London Flagship Versace Store. (Kemp. C, 2017, p. 26-32) retrieved from London Flagship Versace Store. (Kemp. C, 2017, p. 36) retrieved from London Flagship Versace Store. (Luigi & Iango, 2017, p. 38) retrieved from http://lesfacons.com/2017/05/15/versacejeans-spring-2017-ad-campaign/ (May. G, 2017, p. 22) retrieved from https://thevampireswife.com/girls-behaving-vampires-wife-no-4/ (MediaLAB, 2016, p. 34) Figure 3 retrieved from https://medialabamsterdam.com/businesstoolkit/files/2016/09/BMT_icons-01-1024x1024.png (PESTLE analysis, 2011, p. 32) retrieved from http://pestleanalysis.com/wp-content/uploads/2011/11/what-is-pestle-analysis.jpg (Varela. C, 2017, p. 40) retrieved from https://thevampireswife.com/lily-james-blowseveryone-away-kuala-lumpur/ (Versace Home, N/A, p. 2 & 55) retrieved from https://www.orex.de/en/wallpaper/wallpaper-designer/versace-home-wallpaper/versace-home-wallpaper-ornaments-baroqueblack-93583-4/a-134239/ (Versace Vector, N/A, p. 5) Greek Logo retrieved from https://www.vecteezy.com/ free-vector/greek-key (Versus Versace, 2017, p.21) retrieved from https://i.pinimg.com/736x/5d/21/91/5d2191b57fc711554383873a5e988b47--versus-versace-gigi.jpg
IMAGE ACCREDITATION
APPENDIX APPEN APPENDIX APPEN APPENDIX APPEN APPENDIX APPEN APPENDIX APPEN APPENDIX APPEN APPENDIX APPEN NAPPENDIX APPEN
APPENDIX LIST A THE GLOBAL MARKETPLACE
The global marketplace is divided into two environments, the macro and the micro environment. These environments represent the internal and external factors that affect brands in the marketplace. Focusing on the micro-environment, these internal factors are considered as controllable and named more appropriately as actors as they enable a business to act or adapt to the problems. To gain a better understanding of brand positioning, we can use the method of Porters 5 Forces to analyse the brands position and this method can help predict future profitability amongst other areas. (Mtonga. V, 2017, Micro Marketing Environment PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent. jsp?course_id=_307981_1&content_id=_7485730_1.
Figure 5 - Marketing 101 diagram, (Burstein, 2012)
The diagram above explains what competitors the marketing environment includes which evidently breaks down into three competitors. Alongside the competition, where the brand situates enables the community to play a role in how it is marketed. (Mtonga. V, 2017, Micro Marketing Environment PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_ id=_307981_1&content_id=_7485730_1. The macro-environment refers to the external factors which are concluded as uncontrollable in comparison to the micro-environment. To gain an overview of the global marketplace and how global factors affect businesses, the PESTLE analysis can be used (refer to appendix C).
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Versus Versace. A diffusion line or secondary line is a range of garments that are inexpensive in comparison to the brands usual ranges. These are “produced for the mass market” (Collins English Dictionary, n.d) the mass market referring to goods produced in large quantities. Versus is currently being marketed towards the younger generation via celebrity endorsements and collaborations such as Zayn Malik, and M.I.A.in 2013 (Madsen, 2013).
Micro-Influencers. Social media is a way for brands to engage with their consumers globally, these brands can use the help of micro-influencers to influence possible consumers and brand loyal consumers to purchase goods. Micro-Influencers are classed as people on social media with numerous followers i.e. between on average 1000 and 10,000 (Chen, 2016). More than likely these influencers can be found on social media such as Instagram or on their own blogs. By relying on people with a high quantity of followers, the higher the probability of purchase; usually the people who are promoting are already customers or fans of the brand which enables followers to trust the micro-influencers opinion.
Versace Tribute. The Versace Tribute took place in 2017, it was created as a tribute to Gianni Versace by Donatella Versace. The Spring 2018 show debuted original supermodels such as Naomi Campbell and Cindy Crawford, this was in reference to the 1991 show where models walked arm in arm down the catwalk to George Michael (Bauck, 2017). The collection showcased the brands loud busy prints alongside signatures of Gianni’s past work (Bauck, 2017). Versace also gained attention via its hashtag upon social media to mark the events tribute ‘#VersaceTribute which can be seen on their Instagram and online, using this appealed to Versace’s younger and older market of the internet era.
APPENDIX LIST B
Social factors play an important role when it comes to how millennials gather trends and information on what is relevant and what isn’t. Upcoming brands marketing to this generation should strive to use these social factors as an advantage more specifically the aspirational groups.
R
What is an Aspirational Group? The Macro-Environment includes multiple forces, the social force breaks into groups and the aspirational group revolves around TV personalities, Celebrities, Athletes and generally all the people a consumer would aspire to be like. (Mtonga. V, 2017, Marketing Environment, PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_ id=_307981_1&content_id=_7478248_1
MACRO AND MICRO ENVIRONMENT
PESTLE is an external environment analysis which separates into a number of factors, these factors are; Political, Economic, Social/Cultural, Technological, Legal and Ecological. (Mtonga. V, 2017, Marketing Environment, PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_ id=_307981_1&content_id=_7478248_1 Porters 5 Forces is a method to forecast industry profitability if it can be forecast i.e. past profitability is a poor indicator of future profitability. A brands job is to satisfy the customers’ needs but also the customers’ expectations as there is always room for potential customers. With upcoming brands, there is always an opportunity for potential customers which leads onto the role of distribution which enables a business to deal with end-user customers i.e. online. The Porters 5 method is separated into five categories; Entry, Rivalry, Substitutes, Buyers and Suppliers, the reason for this is to directly understand how to neutralise the forces in order to gain profit, refer to figure below. (Mtonga. V, 2017, Micro Marketing Environment PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_ id=_307981_1&content_id=_7485730_1. FORCE
METHOD FOR NEUTRALISING FORCE
Entry
Erecting barriers (isolating mechanisms).
Rivalry Buyers
Compete on non-price dimensions. Improve attractiveness compared to substitutes. Reduce buyer uniqueness.
Suppliers
Reduce supplier uniqueness.
Substitutes
Figure 6 - Diagram of neutralising the forces.
A SWOT Analysis stands for strengths, weaknesses, opportunities and threats. This method is used for identifying how a business can thrive by realising their own strengths and weaknesses (Gregory, 2017) alongside the opportunities and threats from existing and new competitors.
APPENDIX LIST C
REFERENCE LIST WEBSITES Bauck, W. (2017, September 22). VERSACE’S SPRING 2018 SHOW WAS A SUPERMODEL-STUDDED TRIBUTE TO GIANNI. Retrieved from Fashionista: https://fashionista. com/2017/09/original-supermodels-tribute-versace-spring-2018-runway-collection Chen, Y. (2016, April 27). The rise of ‘micro-influencers’ on Instagram. Retrieved from Digiday: https://digiday.com/marketing/micro-influencers/ diffusion line. (n.d.). Collins English Dictionary - Complete & Unabridged 10th Edition. Retrieved December 19, 2017 from Dictionary.com website http://www.dictionary.com/browse/ diffusion-line Gregory, A. (2017, March 14). How to Conduct a SWOT Analysis for Your Small Business. Retrieved from The Balance: https://www.thebalance.com/swot-analysis-for-small-business-2951706 Madsen, S. (2013, October 23). M.I.A X Versus. Retrieved from Dazed Digital: http://www. dazeddigital.com/fashion/gallery/16816/0/m-i-a-x-versus-versace
MISCELLANEOUS (Mtonga. V, 2017, Micro Marketing Environment PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_ id=_307981_1&content_id=_7485730_1. (Mtonga. V, 2017, Marketing Environment, PowerPoint slides) retrieved from https://shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_id=_307981_1&content_id=_7478248_1
IMAGE ACCREDITATION Figure 5 (Burstein, 2012, p. 50) retrieved from https://sherpablog.marketingsherpa.com/marketing/competition-types-to-watch/ Figure 6 (Mtonga. V, 2017, Marketing Environment, PowerPoint slides) retrieved from https:// shuspace.shu.ac.uk/webapps/blackboard/content/listContent.jsp?course_id=_307981_1&content_id=_7478248_1
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