Creative Branding by danielleanast

VBB VBB Danielle Anastasiou Creative Branding For Fashion ARTD2087

TABLE OF CONTENTS Luxury Landscape 07 Victoria Beckham BRAND ANALYSIS 14 Segmentation 24 Stratgey Plan 28 MEASURING THE CAMPAIGN 48 CONCLUSION 50 FIGURE 1 - Victoria Beckham Dover Street Market Store Interior

INTRODUCTION

FIGURE 2 - Victoria Beckham Pree Fall Collection 2017

“Brands occupy an increasingly prominent place in the managerial mind as well as the cultural landscape” (J,Schroeder 2005 P.1). An ever-changing landscape has emerged, in which brands infuse culture with meaning, and brand management exerts a profound influence on modern society. This report will aim to explore the subject of branding and communication in the context of the luxury fashion industry. It will reinforce the importance of a brand’s sentimental relationship with its consumer to stay in tune with today’s world and engage in new and exciting ways. This report will also focus on the social and cultural issues of luxury and build a new communication strategy for the Victoria Beckham brand that will result in continued demand and commitment to the brand (Okonkwo, 2007 P.8)

FIGURE 3 - Victoria Beckham Pree Fall Collection 2017

0.1 FIGURE 4 - Givenchy Spa Metropole, Opened 2017

LUXURY LANDSCAPE In today’s environment, the prominence and growth of luxury brands against the backdrop of social inequality has raised the issue of what ‘luxury’ really means to consumers (V&A, 2015). There is no longer a stigma attached around luxury being ‘all things classic’ and instead the shift in consumer behavior is continuously cultivating, putting pressure on luxury brands to be rooted to authenticity in order for them to not ‘fade’ (Mc Kinsey 2012). Luxury was once justified by high price tags that offered consumers craftsmanship, superior designs and exclusivity. However many say that it will never be the way it was: a discreet tiny economic sector aimed at the rich” (Advances in Luxury brand Management). Maslow’s Hierarchy of Needs (Jackson & Shaw, 2009) proposes individuals are motivated to achieve certain needs and that some needs take precedence over others (Appendix A). This model demonstrates the motivation of consumers buying luxury products out of desire rather than need and that this is a result of huge social and cultural influences.

Chadha & Husband (2006) recognise three distinct social groups of luxury consumers who all have different characteristics and buying motivations: gourmands, regulars and nibblers (See Appendix B). This shows that consumers in different social segments look for different items when purchasing luxury and perhaps ascribe different meanings to what brand luxury means to them (Emerald, 2016). This is emphasised by the idea that millennials have changed how they purchase products, specifically shopping online, which has forced brands to reevaluate what they deliver to customers. Consequently, the brands that manage to adapt to this will have the potential to grow in the personal luxury goods market (D’Arpizio). Moreover, Appendix C demonstrates how different facets combine to build the perception of luxury in the eyes of the consumer.

This theory summarises how luxury brands can create high value to differentiate themselves from non-branded products as well as upholding their brand identity to drive desire (AIDA, Appendix D). As a result, the combination of lifestyle and luxury is just one admired movement in the fashion industry this has become vital for brands to adopt, as consumers increasingly view lifestyle as an element of indulgence. Brands such as Dior and Givenchy (Figure 4) are two of many brands that have espoused this and created hotels and spas to satisfy the demands of the new consumer. It is therefore incumbent for luxury brands to introduce a sense of lifestyle to adapt to the increasing international travel and the emergence of the millennial consumer (BoF 2017).

The traditional luxury consumer is increasingly overshadowed by the new luxury consumer whose perception and value of luxury is different from any other generation, and as a result they are being influenced by economic and socio-pyschologial reasons (Llb Online 2017). This new consumer no longer sees luxury as a necessity, but instead is drawn to unconventional, exclusive story-telling experiences Consumers now want more than just products; they want “businesses with purposes” (Vogue, 2015). Therefore, brands should centre their strategy on ‘Marketing Myopia’ (Appendix E) meaning listening to consumer needs and ensuring their brand is meaning and different (WARC 2017). The existence of online luxury fashion and the proliferation of digital technologies is one-way brands are now attracting the new consumer to rather than “appeal to a mass of likers but rather build brand loyal communities of connoisseurs” (Kaperer Luxury p31).

FIGURE 5 - Gucci Instore interior at Dover Street Market Reinforcing story telling and creating an experience for consumers.

One way in which brands have achieved this is through online luxury fashion. However, some luxury brands have been reluctant to adopt digital technology (Appendix F) for fear of becoming too ‘obvious’ on the Internet and losing their exclusivity. The four-phase online customer experience hierarchy (Appendix G) explains the need for luxury brands to be online to create a memorable customer experience. Figure X identifies how luxury brands existing online is vital as more luxury shoppers are turning to Internet sources to compare products and prices (McKinsey, 2014).

FIGURE 6 - Charlotte Tillbury Virtual Reality instore experience

Many luxury brands have started adapting to the shifts of consumer behaviour, globalisation and the post-recession economy, which has resulted in luxury businesses becoming more accessible (BoF, 2016). Affordable luxury is gaining more significance within the luxury sector; brands are catering to those who cannot afford exorbitant items but deserve a ’luxury experience. The increased accessibility of luxury fashion has become more common as brands have identified the ‘pleasure principle’ of the millennial consumers (Entrepreneur 2014). Rambourg’s Mass Luxe Pyramid (Appendix H) illustrates how major brands range in accessibility and how middle-class individuals will purchase brands at a more accessible price point.

As time progresses, the pyramid will considerably grow as the traditional existing consumers trade to higher price points and are replaced by the new consumer feeding the pyramid’s base. However, brands need to be cautious when adapting to these new demands as they may lose their exclusivity appeal. This is defined as the French Paradox (Appendix I) and has been demonstrated in the past by Burberry whose iconic house check was embraced by the emerging ‘chav’ generation, putting the brand at risk.

FIGURE 7 - Supreme X Louis Vuitton Key Ring

ACCESSIBLE LUXURY

FIGURE 8 - Tiffany & Co -The New Tiffany Fragrance

STREETWEAR The oxymoron of street wear and luxury is being increasingly celebrated, with luxury brands such as Louis Vuitton, Gucci and Burberry working on crossover projects with streetwear designers to appeal to the next generation of luxury admirers (Figure 9). According to Bain & Company 2017, “high-end streetwear boosted luxury goods sales by 5 percent to approximately 263 billion euros (£229 billion). Virgil Abloh’s contentious takeover of street wear is the most recent example of how the luxury landscape is blurring the lines between street wear and luxury and how it is vital for brands to adapt to this.

Luxury brands such as Burberry, Louis Vuitton and Gucci have proved themselves as ahead of the game by creating collections inspired by youth culture to add to their heritage and hence appealing to both long-term and merging luxury consumers (Luxe Digital, 2017). Moreover, unlike traditional luxury buyers who invest exclusively in luxury items, 62% of millennials stated that they are more open to mix and match both luxury and high street brands in order to form their own style (Luxe Digital, Figure 10). However the key to success might lie in how luxury brands embrace this trend without loosing their own DNA.

80%

60%

40%

20%

Millennials

Generation X Yes

FIGURE 9 - Streetwear X Luxury mix and match

Baby Bloomers No

Figure 10 - Graph showing the percentage of mix and matching luxury with high street brands for 3 generations

0.2 BRAND analysis

FIGURE 11 -Victoria Beckham Pre Autumn Winter 17 | RTW

Victoria Beckham launched her luxury label in 2008, successfully placing herself in a promising position within the luxury market. Beckham has emerged to be one of the most unexpected fashion contenders in recent memory (Vogue 2017), showcasing her signature design of neat-fitting, tailoring and classic colours in her collections. Today, the brand has a flagship store in Mayfair and a huge social media presence of 19.6M followers on Instagram. The proposed SWOT analysis below (Figure 13) of VBs current positioning in the market, demonstrates the weaknesses and opportunities the brand has in order to grow and flourish within the competitive luxury market. It identifies that the millennial consumer has yet to be identified within her target market and is something that will be looked at below in order to create brand growth.

19.9M

13M

Figure 12 - Victroia Beckham Instagram (2018) Screenshot [Accessed 5th March 2015]

Figure 13 - Weaknesses and Opportunites (SWOT) of Victoria Beckham

Brand extensions – There is an opportunity for VB to venture out and use brand extensions in order to enhance the status of the brand. Although it is a risky venture, there can be a success in using this method to target different segments of the luxury consumer.

Victoria Beckham’s market is complex; she targets luxury tourists, local mothers, professionals and the aspirational consumer.

Street wear – One segment that VB could explore is the rise of street wear and luxury collaborations. “Street wear is the natural way of dressing up for millennial and Gen Z customers, so luxury brands need the association much more than street wear brands do” (i-D 2017). The reason why street wear and luxury has become so popular within the luxury market is because brands have started to adopt to the consumers who are captivated by the growing youth culture, radical fashion and the empowerment of diverse young individuals that is increasingly growing within society.

Victoria Beckham does not appeal to the Generation Z or the millennials which can be considered the most important generation to target towards as by “2025 Millennials and Generation Z will account for 45% of the global personal luxury goods market” – Forbes 2017 Victoria Beckham has no brand extensions, which limits her as most luxury brands such as Hermes and Gucci have already started to adapt to this. They have created bespoke experiences such as hotels and cafes to accommodate the demanding consumer that wants more than just products The brand has previously used models for collections and campaigns that are classed as anorexic, which has resulted in the brand to have a bad reputation In today’s evolving market, consumers are much harder to understand, resulting in brands segmenting their markets in order to cater to the needs of the new millennial consumer is has a conspicuous consumption of obvious luxury brands. Victoria Beckham however, has a small product segmentation that limits the products her consumers can purchase as well as attracting new consumers. VB retail store experience can be seen as plain and simple and doesn’t offer unique or digital experiences to consumers. Placing digital experiences such as technology fitting rooms can boost sales up to 30% (E-consultancy 2017).

Hospitality – Another rise in the luxury fashion market, is the emergence of hospitality such as luxury hotels, spas and restaurants. “Hotels are a great way to showcase the design philosophy of a brand, to entertain its customers, and to project a lifestyle that goes beyond products” (Luxo 2018). For VB her consumers are middle class working women who have a family, creating a luxury hotel will be a massive opportunity for VB as consumers are seeing lifestyle as an element of indulgence. Fashion Film – The digital revolution has had profound impact on the fashion industry in which consumers are now looking for digital experiences such as films to involve their consumers in ways that aren’t possible with other forms of marketing such as print. By VB infusing brands films within their marketing strategies it will allow them to create an aesthetic feeling, as well as showing off their brand identity in everything they do. In-store experiences – Brands have now started to create special experiences in-store in order to differentiate themselves from their competitors and also develop their brand identity. One way VB can do this is by investing in commissioning high-profile architects to design ground break flagship stores in order to create an emotional connections and build brand loyalty with customers Marketing to the millennial consumer – In todays luxury sector, millennials have redefined what the term luxury really means to them. Brands have now started creating accessible products that allow young consumers to purchase. This is seen as a clever tactic to draw in the millennial consumer as once they start off buying a small purchase, their loyalty starts to deepen in which they start to make larger purchases; strengthening the relationship between the brand and the consumer. For VB there is an opportunity for her to create accessible products such as fragrances in order to attract this consumer.

BRAND DNA A strong identity manages the perception of a brand and differentiates it from its competitors. Thus, it helps build brand equity through increased recognition awareness and customer loyalty. “The brands core values play a vital role for the authenticity of the brand: they are to be “lived” by the employees in order to emotionally charge the brand” (Wobben p.17). A brand prism (Appendix J) provides a clear understanding of VB’s core values and depicts the identity of the brand. Victoria Beckham portrays strong brand associations of sophistication, empowerment and high-quality clothing, embodying professionalism and liberation for women who share her lifestyle of a strong working woman with a family.

Distinguishably, Victoria Beckham clearly displays on social media that her family are at the heart of her brand and everything that she does (See Figure 14). “I like to add a little bit of personality and family to it. I am my brand” (Mi News 2018). VB embraces a vision of women with their own individual style whilst adhering to the traditional guidelines of what a high-class professional woman should Consequently, although the brand’s unique selling point is inspiring women who share her the lifestyle as her, there is an opportunity for VB to target the millennial consumer.

FIGURE 14 - Victoria Beckham Instagram, Family Posts

FIGURE 15- Victoria Beckham Collection Example of sophisticated shapes

and timeless colours

BRAND EQUITY Luxury brands place significant emphasis on ensuring brand awareness and creating the right image in order to gain brand equity and thus build loyalty between the brand and the consumer. Equity is defined as a â&#x20AC;&#x153;set of brand assets and liabilities linked to a brand, that add to or subtract from the value provided by a product or service to a firm and/or that firms customerâ&#x20AC;? (Aaker 1991,p15). In luxury, it is highly important for brands to have strong equity as it justifies high price points, repeat product purchases and improves visibility. As shown in Appendix K, the CBBE model identifies four steps for building a strong brand in order to give consumers a reason to prefer their brand to any others.

The diagram identifies that Victoria Beckham has a strong identity and imagery and has a unique selling point of a modern, high-powered mother. Consequently, the CBBE model demonstrates that VB has yet to reach the resonance stage of the diagram, advocating that the need to leverage other segments that are currently booming such as the rise of luxury and street wear, establish brand loyalty and increase deep psychological bonds with consumers.

FIGURE 16 - Victoria Beckham Instagram, Family Posts

FIGURE 17 - Victoria Beckham Instagram, Family Posts

TARGET MARKET The luxury fashion industry is going through a profound transition phase in which it should consider two or three strata of target markets that are the VIP consumers, core consumers and the aspirational consumers (Appendix L). The customer pen portrait (Appendix M) displays in detail the attitudes and characteristics of the existing VB audience, the majority of which are core consumers and VIP consumers. The core consumers are thus a vital proportion of individuals as they have regular spending power and frequent involvement with the brand and thus it is important to keep this audience captivated so that profitable loyalists are not ostracised (Larry Light 2015). Conversely, Victoria Beckham fails to market her brand to the aspirational customers who are lower, more infrequent spenders but are a larger tier

FIGURE 18 - Victoria Beckham Instagram, Family Posts

FIGURE 19 - Victoria Beckham Instagram, Family Posts

Although VB does succeed in exclusivity by pursuing her core and VIP consumers, she fails to ensue her popularity by reaching out to other vital markets and as a result has a high risk of losing brand equity as well as popularity. By taking into consideration new aspirational consumersâ&#x20AC;&#x2122; lifestyles, VB will provoke feelings of success and status that will make this audience feel like the full-fledged luxury consumer (Pixlee Blog, 2017). Most significantly, once the connection is made and VB has embodied the personality of the target group, the brand becomes a successful social singularity.

FIGURE 21 - Victoria Beckham Instagram, Family Posts

SEGMENTATION The simplicity of the industrial revolution once meant that consumers did not have a high demand for choice and were satisfied with purchasing anything that was reasonably well made. I n today’s evolving fashion market, consumers have become more knowledgeable and wealthy individuals who have developed more sophisticated needs and wants (Jackson, p.51 As markets have become more complex, we have seen the ongoing fragmentation of consumers within all areas into smaller groups that desire very diverse products. By determining a consumer’s values, attitudes and lifestyle (VALS Appendix N), a brand can create messages that align perfectly with a prototypical consumer. The Victoria Beckham brand currently has a differentiated segmentation strategy with which the brand targets more than one group of buyers by tailoring their product, price or brand message to maximise their interest

The VB X Target collaboration is a collection of products aimed at mothers and their children who are not the typical VB consumer and at individuals who can afford to buy the more accessible products. Victoria Beckham also recently collaborated with Reebox, producing products “encouraging women to be the best versions of themselves” (Reebox 2018). To conclude, it is clear that Victoria Beckham targets a range of consumers to appeal to a mass of likers. However this causes VB’s market to be complex as it appeals to an inconsistent market of luxury tourists, local mothers and professionals.

FIGURE 20 - Victoria Beckham Instagram, Family Posts

brand poistioning Brand positioning has been defined by Kotler â&#x20AC;&#x153;as the act of designing the companyâ&#x20AC;&#x2122;s offering and image to occupy a distinctive place in the mind of the target marketâ&#x20AC;? (R, Pillai, P.194). The brand positioning map (Appendix O) clearly shows where VB is currently positioned against its competitors, suggesting that the brand is not favoured by millennials and is not perceived as being as exclusive as other luxury brands. Fundamentally, the repositioning of VB could therefore be a huge opportunity to create a collection that will allow new consumers to enter the market; predominantly the millennials.

FIGURE 22 -Victoria Beckham Spring Summer 18 | VVB

campaign idea The sporting goods market is a billion-dollar industry meaning that sporting goods store sales in the United States alone amount to more than $45 billion annually (Statista, 2017). This means that the American consumer favours a relaxed dressed down approach, giving VB an opportunity to target this consumer by creating casual, yet trendy products. For Victoria Beckhamâ&#x20AC;&#x2122;s new communication campaign, there will be a street wear inspired collection that will authenticate her identity of being family orientated by collaborating with son Brooklyn (#VBB).

The streetwear inspired collection will have chunky trainers, belt bags and female empowerment t-shirts that will be available for personalisation in store and online. The strategic Diamond Theory (Figure 25) explains the different parts of the VB streetwear strategy and how they all fit together which integrates important choices as one bigger picture.

0.3

VBB

VBB New Collection Avaliable instore

FIGURE 24 -Victoria Beckham New Collection Store Front in Mayfair

FIGURE 23 -Victoria Beckham VBB New Streetwear Collection Chunky Trainers

31 Which product categories will you compete in? For the new VVB streetwear collaboration products such as casual trousers and jumpers, slogan T-shirts, trainers, sunglasses and belt bags, will be offered for consumers in areas such as the United States and the United Kingdom.

campaign idea

Social media will play a big part in the technology used to promote the new collection such as Instagram. Window displays and Instore technology will also be around the store advertising the new collection.

Arenas

What will be your speed and sequence of moves? - Firstly before releasing the collection to VB consumers, there will be ‘sneak peaks’ on social media such as Instagram to create desire and excitement. - Once her consumers are aware of a upcoming collection, advertising as well as Press relations, social media and broadcast media. - The new collection will then be realised to consumers but only for a limited amount of time.

Staging

Economic Logic

How will you get there? Joint Ventures with son Brooklyn Beckham Vehicles

Differentiation

FIGURE 25 - Strategic Diamond Theory Adapted from Hambrick, D. C., & Fredrickson, J. W. (2001). Are you sure you have a strategy? Academy of Management Executive, 19 (4), 51–62.

How are you different? What is your USP? - The new streetwear collection for VB will be a collaboration with Brooklyn Beckham that will align with her brand identity of being family orientated and will give VB a unique offering that most brands cannot give. - The collection will also allow consumers to customise their own ‘female slogan’ T-shirts instore and online which will build a stronger relationship with the brand and the consumer. - Customer service instore will be key to growing Victoria Beckham the brand, sales assosiate will be fully trained on how to customise the T-shirts as well as offering impecible customer service. For VB in the future, thinking about changing her stores to fit into the different loactions could be key in order to give her consumers an expereince they crave.

media OBJECTIVES Improve profitability, market share, increasing sales volumes Successful engage with the new millennial consumer Make emotional connections with her consumers To expand the Victoria Beckham Brand VB must prove their worth and establish themselves as true must haves for consumers

The Ansoff Matrix theory (Appendix X) suggests that a business attempts to grow depending on wether it markets new or exisiting products in new or existing markets. For the new communication stratagy VB will be diversifying their offerings to expand to individuals across multiple markets. in order to expand brand growth and satisfy millennial needs.

Improve social media engagement and involvement with consumers Allow consumers to feel a part of the brand by offering personalization in store and online Help build a strong brand message Help increase a more competitive edge within the market New collaboration wiith Brooklyn Beckham will generate press and build brand awareness Create newness and exclusivity for international growth FIGURE 27 - Victoria Beckham Pree Fall Collection 2017 FIGURE 26 -Victoria Beckham New Collection Media Objectives

THE COLLECTION

VBB FIGURE 28 - New VBB Streetwear Collection Campaign

FIGURE 30 - Victoria Beckham VBB Collection Moodboard

VBB FIGURE 29 - New VBB Streetwear Collection Campaign

repositioning the market The global luxury goods sector is currently undergoing a massive change resulting in competition from mass fashion brands and the emergence of new luxury markets (Uche Okonkwo p.3). The act of designing Victoria Beckhamâ&#x20AC;&#x2122;s offering and image to occupy a distinctive place in the mind of the target market will allow the company to leverage the existing brand equity, enhance brand awareness and allow new consumers to enter the brands market (WARC 2017). The collaboration of streetwear and luxury is a very current yet niche market that luxury brands have started to enter and tailor products to their consumers. Dividing VBs market into smaller segments with different preferences and subsequently adjust the product to the preferences in the different segments, it will reduce the overall distance between what you are offering to the market and what the market requires (Emerald 2017).

By doing this, it will improve Victoria Beckhamâ&#x20AC;&#x2122;s competitive position as well as giving her consumers a variety of products to choose from. Bowmanâ&#x20AC;&#x2122;s strategic clock (See Appendix P) identifies how a product should be positioned to give it the most competitive edge. It illustrates that a business will have a variety of options of how to position a product based on either price or perceived value. Although the new market positioning for Victoria Beckham will be high quality priced products the differentiation aims to offer consumers the highest level of perceived value as well as high brand awareness and loyalty that will justify the consumers buying the product; resulting in high-profit margins for Victoria Beckham the brand.

FIGURE 31 - Victoria Beckham Pree Fall Collection 2017

MARKETING THE CAMPAIGN For todayâ&#x20AC;&#x2122;s luxury world, brands need to stay firmly rooted in the modern market to require a well-established presence in the digital sphere. The Victoria Beckham brand will use social media as one of its main forms of marketing the new Streetwear collection and involving consumers by through advertising its products on its current Instagram page. â&#x20AC;&#x153;Digital marketing strategies are the perfect tool to communicate and motivate the target audience to make the purchaseâ&#x20AC;? (Journal of Mobile Technologies). The social media campaign will allow consumers to submit photos of themselves showing their VB look on streets all over the world. The collection will have certain pillar products such as Sunglasses and Blazers to resemble the traditional Victoria Beckham heritage but with modern consumer

The line delimiting traditional luxury brands from other brands has become blurred by the emergence of new luxury brands. Stuart Halls encode and decode theory (Appendix Q) examines the process of marketing communications and how noise from other competitors can often drown out the message from other communications. In order for the brand Victoria Beckham to market the collection successfully, it will use a variety of different media to advertise such as social media, print advertisement, press relations and in-store window displays to ensure that the message reaches the receiver. Furthermore, Appendix R represents the AIDA model and how the new collection aims to interact with its consumers to create desire and conceivably get individuals to make the purchase.

FIGURE 32 - Victoria Beckham Pree Fall Collection 2017

The campaign will be designed to reach a new and younger demographic by using the Instagram story feature to showcase the new collection as well as creating the hashtag #VBB for consumers to participate. The photos of the campaign will also be posted on the VB website and social media platforms that will allow users to share content via Facebook, Twitter and email in order to boost engagement (Figure 34). According to McKinsey, 40% of all luxury goods purchase decisions are influenced by what consumers see and hear online. By creating this social media campaign it will allow the brand to convey its brand values and story, whilst also working as a persuasive tool to help blur the lines between the brand and its consumer; creating more of a lasting, meaningful relationship

41 Figure 33- New collection hashtag #VBB searched on instagram, Created in photoshop

#VVB 4,736 posts

#VBB highlight feature, allows consumer to always go back and watch the highlights of the collection

Top

Recent

VIEW ALL

#VBB hashtag search, consumer involvement,

VIEW LATEST

FILTER IMAGES BY: POPULARITY #VBB

GENDER STYLING ITEM

TERMS / PRIVACY / MUSIC

SUBMIT YOUR VBB LOOK

Figure 34- New Social media campaign, Victoria Beckham Website #VBB

STORY OF VB

BUY THE VBB LOOK

Victoria Beckham

VBB VBB FIGURE 35 - New VBB Streetwear Collection Campaign For

Offering personalisation on certain products

Sunglasses Victoria Beckham

Victoria Beckham Instagram story, allows people to purchase items by just â&#x20AC;&#x2DC;swiping upâ&#x20AC;&#x2122;

Link will be at the top of insagram page in order to consumers to easily access and purchase

LIMITED EDITION Limited edition collections cultivate a sense of excitement and immediacy, as the products are only available for a limited amount of time. The constant novelty and the creation of near instantaneous FOMO works admirably with the millennial consumer. In todayâ&#x20AC;&#x2122;s society companies such as Uber and Netflix have created an on-demand market where consumers can almost get anything they want, whenever they want. However, limited edition releases are the opposite, they create a sense of necessity that consumers really arenâ&#x20AC;&#x2122;t able to get elsewhere. By Victoria Beckham releasing this new street wear collection, it will target a diverse audience of trendy millennials as well as the millennials who Instagram stalk her son; maximizing the brands appeal to a different and more global customer audience. The limited edition collection will be available for consumers to buy online, for a month. The collection is there to drive desire and show a different side of the Victoria Beckham brand.

Figure 37- Millennial wearing luxury Streetwear, Prada

Figure 38- Millennial wearing luxury Streetwear, Prada

STORY TELLING Figure 39 shows how brands such as Dior, Chanel, and Burberry are using YouTube in order to successfully connect and engage with their audiences. Once the film has been created VB will post the films on social media such as Instagram, Twitter, and Youtube. A recent article published in the Wall Street Journal supports the belief that luxury fashion companies are turning to Youtube to market their brandsî (Melissa Hanke, 2015). By VB posting videos on Youtube, consumers are able to subscribe to the Victoria Beckham channel, which will generate a higher following and allow individuals to discuss and get involved with the brand. It’s a great opportunity for the brand to reiterate the relaxed yet luxurious brand image it’s trying to portray while showing the new elements of street wear that will be added to the collection. Thus it will foster a deeper relationship with the audience, keep the luxury brand relevant and create differentiation. In addition, once the film has been created VB will post small clips on her Instagram account to entice people to transfer to Youtube to subscribe and watch the whole film.

“Marketing is no longer about the stuff that you make, but about the stories that you tell” (Seth Godin). The art of storytelling is one way for brands to showcase their true brand identity and to lure new consumers, in order to create an impactful memory and hopefully convert potential consumers into advocates and devotees. “Human memory is story-based, is the first principle of storytelling behavior” (Schank, 1999, p. 12). One way the Victoria Beckham brand can represent its brand identity and values is through creating brand films as it can help build an emotional connection with the audience as well as form consumer relationships. Correspondingly, through VBs new brand film it will allow individuals to have a glimpse at the lifestyle that those consumers who own anything from the new streetwear collection will feel like. It is designed to draw you in, connect with your emotions and insert a meaningful memory that will create desire. Keeping the film very simple with a sense of elegance will stay in line with VBs identity and values. FIGURE 39 - Burberry Youtube Campaign featuring Iris Law

FIGURE 40 - Burberry Youtube Campaign

MEASURING THE CAMPAIGN

Technique

How will it be measured?

Social Media

Using the application tool â&#x20AC;&#x2DC;Keynoteâ&#x20AC;&#x2122; will allow On a day to day basis to make sure the content on social media is being you to monitor your social media in precise detail. It gives you you access to an intuitive and noticed and creating more awareness shareable dashboard, tracks hashtags, keywords and campaign metrics in real-time. Search the hashtag #VBB to see how many people have bought the collection and are posting it on Instagram

- It is important for VB to understand the way her consumers behave online as it will boost the brands engagment and will allow you to identify the most important, popular content that you can focus on. - By responding to positive or negative mentions will help to build further engagement and will help strengthen your relationships with consumers.

Online website

The VB brand will measure her online content On a weekly basis by using google analytics to measure how many people are visiting the site a day. It will allow her to understand what pages her consumers are in most contact with.

- It will allow VB to see if people are being attracted to personalize their own T-shirts. - Will allow you to see which features are the most popular within consumers

Press Relations

Looking at the number of coverage by column per inches and clippings in magazines and online publications

- To make sure that the marketing costs is being reflected in the press

Sales

Using the Cost per acquisition (CPA) monitor will On a day to day basis measure the aggregate cost to acquire one paying customer on a campaign or channel level.

Lastly, when creating a new marketing and communication plan it is vital to measure the performance of a brand through its sales and profits, customer satisfaction and market consumer attitudes (Tim Jackson p.257).

How often it will be measured

On a weekly basis

Effect

This monitor will allow you to ensure that all the costs of the production and marketing are being met so the continuation of the new collection can still be made Figure 41 - Measuring the Campaign for new collection

CONCLUSION To conclude, this report has identified that in todayâ&#x20AC;&#x2122;s turbulent landscape in order for brands to flourish they must abandon mere scarcity and selectivity and instead switch to an â&#x20AC;&#x153;abundant rarityâ&#x20AC;? where feelings of desire and aspiration are attached to the brand (Emerald 2016). Distinguishably, this report has clearly examined the current challenges and issues luxury brands now face in the fashion market and in order for brands to be the most profitable they must pay attention to the new pivotal millennial consumer who want more than just products. Brands need to entail more than simply selling excellent products but the symbolic access to a specific universe of privilege and social stratification (Kapferer 2015). Furthermore, this report has looked at the current social issues related to fashion in addition to the increasing interest in luxury streetwear and how it attracts the new millennial consumers.

With the support of primary and secondary research, this report has thoroughly identified the opportunities the Victoria Beckham brand has in order to leverage and increase brand growth and equity. Going forward with the new streetwear collection to keep consumers involved and constantly engaged, VB will continuously use social media to promote the collection, as social media is more influential and more trusted for millennials. 71% of millennials check social media sites at least once per day (Adweek 2014). To further grow the brand, VB in the future can look into brand extensions in order to increase the brands relevance to consumers as well as the luxury market. By creating a brand extension that is aimed at the millennial consumer it will allow them to constantly being engaged in the VB brand.

Figure 42 - Victoria Beckham Collection

APPENDIX Appendix A Maslows Hierarchy of Needs - Jackson and Shaw 2009 P.5 Self-actualisation needs Esteem Needs Social needs/need to belong Safety Needs Physiological Needs

Appendix B Chabha and Husband (2006)

Appendix C How different facets combine to build the perception of luxury Kapferer On Luxury p.24

Chadha and Husband (2006) identify three distinct social segments of luxury consumers: the luxury gourmands, the luxury regulars and the luxury nibblers: 1. At the top ed are the luxury gourmands, who devour luxury in great big bites, donning desinger labels from head to toe, 24/7. Needless to say these are high net worth individuals (HNWI), with upwards of a million dollars in finacial assets.

Abraham Maslow (1943) famously classified human needs into hierarchy of different categories. His belief was that people satisfy their basic needs first, the most basic being associated with sustaining ones physiology. They include hunger, thirst and health. The hierarhy is based on the premise that people satisfy their basic neeeds before those higher up the hierarchy. Maslow might argue that a consumer would ensure that his/her hunger is satisfied before worrying about social or esteem needs. In a general sense, this is true, although there are plenty of exmples in fashion of consumer prioritising spending on fashion clothing and accessorites over a healthy diet

Appendix D AIDA, Marketing Communications Chris Hill P. 235

2. Next you have the luxury regulars, who while not quite in the gourmand league are nevertheless on staple diet of luxury goods. These are affluent people with financial assests of US$100,000. 3. And finally, there are the luxury nibblers, who partake in a few small bites of luxe every season, a bag here, a watch there, whatever they can afford. They are typically young people with next to no savings in the bank, but with an increasing income -generating capactiy thanks to a decent education and well paying job.

Figure 1.2 summarises how luxury brands creare high value through specific levers and how these levers work in combination to build the overall luxury desirability today.

Developed by Strong (1925), the AIDA model was designed to represent the stages that a salesperson must take a prospect through in the persoanl selling progress. This model shows the prospect passing through successifve stages of attention, interest, desire and action. This expression of the process was later adopted, very loosely, as the basic framework to explain how peruasive communication, and advertising in particular was though to work. - Awareness - Interest - Desire - Attention

Appendix Marketing Myopia - Theodore Levitt 2008 The name given to the theory that some organizations ignore the fact that to be successful, the wants of the consumer must be their central consideration.

Appendix F Diffusion Of Innovation - Luxury brands adapting to Digital Technology

Appendix G The four-phase online customer Experience Hierarchy Source: Adapted from Mohammed et al. (2002) Internet Marketing. Level 1: functionality

Appendix F Diffusion Of Innovation - Tim Jackson & David Shaw P. 9

Luxury Brands High street brands

Early adopters 13.5%

Early Majority 34%

Late Majority 34%

Early Majority 34%

Late Majority 34%

Innovators 2.5% Laggards 16%

Innovators 2.5% Rogers 1962 model is still used today as a broad guide to classifying individuals propensity to adopt new products. This model has five simple classifications that are spread across a bell curve, illustrating the array of tendencies across a propulation: Innovators, Early Adopters, Early Majority, Late Majority and Laggards.

This stage involves the customers experiencing the basics of the websites like design, ease of navigation, usability, speedy and secure transactions, quick downloads and uncluttered structure.

When it comes to the adoption of technolgoy for luxury brands, they have been very slow to make a change and create social media accounts, websites ect incase they became too obvious on the internet and lost their exclusiveness. However consumers are becoming more digitall aware, forcing luxury brands to change.

Level 4: evangelism This final level is achieved after the first three experience levels. This is the stage of cultism with the website where the customer feels compelled to share the ‘brand good news’ with others

Level 2: familiarity This level is achieved through tailoring customer specific needs like customization and personalization of web pages, products and services. Other elements are instant personal communication tools, service consistency and trust

Level 3: internalization This level shows an internal connection with the website or ‘brand affiliation’ and is achieved from previous exceptionally positive experiences. Customers now habitually visit the website for commerce and recreation.

57 Appendix H The mass luxe pyramid -Erwan Rambourg The Bling Dynasty

Appendix I The French Paradox in Luxury - Accessed: http://news.bitofnews.com/hierarchy-luxury-brands/

Brand Pyscique

Relationship

Most premium-goods purchase would correspond to ‘esteem needs’ that include the search for self-esteem, confidence, achievement, and respect by others,” Rambourg writes in his new book, “The Bling Dynasty: Why the Reign of Chinese Luxury Shoppers Has Only Just Begun”

Brand Personality

Brand Culture

In recent years, the need to show off wealth has actually become more important to people than the actual wealth itself. “Because brands bought are actually more important than the level of money earned,” Rambourg continues, “luxury is no longer a goal as such; it has become a necessity.” Brands near the top enjoy a higher prestigious. Brands also gain affluence when more people buy them. However if too many people buy them, brands can lose its exclusivity appeal to the super-rich buyers. This is what’s called the French Paradox.

Appendix J Brand Prism Victoria Beckham

Appendix J Brand Prism Example Harriet Posner P.160

Customer Reflected

Customer Self-Image

Another model for analysing brand identity is Jean-Noel Kapferer’s Brand Identity Prism, first introduced in 1992. Kapferer’s six-sided model aims to capture the complexity of brand identity. Physique- this equates to the essence of the brand as well as its pysical features, symbols and attributes. Personality- the character, attitude or personality of the brand. Kapferer believes a brand should have a unique personality. Culture - a brand has its own distinctive culture and brand values Relationship-This relates to beliefs and associations connected with a brand. what does the brand promise? Reflection - This is the idealized image of the consumer as reflected in brand advertising. Self-image - corresponds to the mental image consumers have of themselves when wearing the brand.

Workwear, female Stylish, clean, luxury, matur empowerment, stylish, powerful, simple chic, clean cut designs, Brand simplistic, timeless Brand Pyscique Personality colours

High quality products, durable, strong relationship with consumers due to brand identity being shown through her products

Relationship

Customer Reflected Wealthy individual who is very elegant and modern working women with a family

Brand Culture

Family orientated, working women with family, strong independant

Customer Self-Image Strong women leader, confident, high social status, businesses women, exclusive

59 Appendix K Kellers CBBE Model Pyramid

The CBBE model or the Brand equity pyramid is actually a pyramid which tells us how to build brand equity by understanding your customers and implementing strategies accordingly. If there is a connection between the brand and the consumer, it results in positive brand equity & has a better chance of acquiring and sustaining customers, thereby giving a huge advantage to the companies and products which are considered as “brands”. By using the Brand equity pyramid or the CBBE model, brands know which strategies to implement and how to give the right experiences to their audience so that they create the WOW factor.

Appendix K Kellers CBBE Model Pyramid - Victoria Beckham Individuals have a sense of community with people associThe brand only targets a cerated with the brand. tain consumer who is like VB. Consumers are loyal to the They have previously got in brand due to VB not changing trouble for using very skinny Ressonance her products or designs. models which could reduce Due to the brand being the amount of people purBrand Response owned by Victoria Beckchasing from the brand. ham individuals will have Judgements Feelings a feeling of social status and approval from Brand Meaning peers. High quality clothing, Performance Imagery Durable Brand Identity Salience Luxury, timless colours, sophisticated shapes, Due to Victoria Beckhams previous career, it has givenfamily orientated, female her an advantage to have high brand awareness whilstempowerment, simple, also working very hard in the fashion industry to cre-clean cuts, workwear ate her dream brand that best represents her identity.

Appendix L Tier The Target Market Theory VIP CONSUMERS- who are small in number, high spenders, and important opinion leaders and taste makers. CORE CONSUMERS- a larger tier and relatively high spends – they are often the “typical” customers. The heart of a brands customers base and thus vital INFREQUENT OR ASPIERATION CUSTOMER – lower/infrequent spenders, but an even larger tier to consider. The aspirational consumer is where considerable revenue can be generated in the future.

Appendix N VALS - Marketing Management Philip Kotler, Kelvin Keller P. 385

Appendix M Customer Pen Portrait - Victoria Beckham consumer

Appendix O Positioning Map Harriet Posner P.57

Chloe Smith lives with her partner and 2 children in London, Kensington where she has a full time job working at a law firm in Central London. Chloe has grown up in London her whole life and is a very passionate and independant woman who loves her job and wants to thrive in life. Chloes family is extremely important to her but due to her and her husbands full time job, she hires a full time nanny that looks after them during the day until they come home from work. As Chloe has a important role in her job she invests a lot of money on her apperance as looking smart gives the perception to people that she has a high social status and power. When Chloe and her husband arenâ&#x20AC;&#x2122;t working, they occasionally take the time out to go to special work events where dressing up and looking smart is extremely important. Outside of work, Chloe is very passionate about female equality and participates in a lot of charity work, where she has previously raised ÂŁ10,000. In Chloes spare time she spends a lot of time with her children and husband where they frequently go on holiday to places such as the Hotel Plaza Athenee which is the Dior spa that is dedicated to beauty and total wellbeing.

The main dimensions of the VALS segmentation framework are customer motivation and customer resources. Customers are inspired by one of three primary motivations: ideals, achievement and self-exression. The four groups with higher resources are: Innovators - successful, sophisticated, active, take charge people with high self-esteem. Thinkers - mature, satisfied and reflective people who are motivated by ideals and who value order, knowledge and responsibility, Achievers - successul goal - orientated people who focus on career and family Experiencers - Young, enthusiastic implusive people who seek variety and excitement.

A positoning or perceptual map plots the relative positons of brands or products. Two key criteria are chosen, one for each axis. The polarities of each citerion are positioned at the end of the axis: this example shows pricing ranging from prestige to more affordable levels.

62 Appendix O Brand Poisiting map - Victoria Beckham

Appendix P Kellers CBBE Model Pyramid

Appendix P Bowman’s Strategic Clock - Victoria Beckham

Appendix Q Stuarts encode and decode theory - Fashion Marketing Tim Jackson and David Shaw P.158

Exclusive

Popular (millennials)

Unpopular (millennials)

Non Exclusive The pen portrait clearly identifies that a lot of exclusive luxury brands have started to adapt to the new millennial and their needs. Brands such as Burberry and Gucci have have started to create new collections inspired by streetwear to appeal to a range a mass of likers rather than one target audience. “Millennials tend to have an appetite for new things and they are driven by content, emotions and personal connections” (Bizzarri, 2017). On the positioning map, Victoria Beckham is positioned on the left side, advocating that the millennials currently dont have a desire to to buy any products and instead are moving to brands such as Gucci and off-white as they offer a higher social status when purchasing their clothes are creating new campaigns aimed at them.

Bowman’s Strategy Clock is a model used in marketing to analyse the competitive position of a company in comparison to the offerings of competitors Bowman’s Strategy Clock represents eight possible strategies in four quadrants defined by the axes of price and perceived added value. By looking at the different combinations of price and perceived value, you can begin to choose a position of competitive advantage that makes sense for you and your organization’s competencies. This is a powerful way of looking at how to establish and sustain a competitive position in a market driven economy. By understanding these eight basic strategic positions of Bowman’s Strategy Clock, you can analyze and evaluate your current strategy and determine if adjustments might improve your overall competitive position

Looking at the Bowman’s Strategy Clock in connection to Victoria Beckhams new street wear collection and communication campaign, the brand aims to reach number 4 & 5. Due to the perception of the brand in the eyes of the consumer, and the high brand equity, the new collection will have high quality products that will be sold at high price points.

A model derived mainly from kotler et al. (2001) clearly illustrates the who twoway communication model. This model identifies key stages in the organised marketing communications between a brand and it’s consumers. It applies equally to advertsing and PR in circumstances where brands target segments with specific messgaes. The message content will depend upon the communication objectives.

64 Appendix R Marketing Communications Chriss Hill P.235

Appendix R AIDA model Victoria beckham new collection

The AIDA model demonstrates the different stages the VB consumer will go through when see advertising methods of the communication campaign are marketed at them (See Appendix X)

Processing

AIDA sequence

Hierarchy of effects

Information

Awareness

Presentation

Cognitive

Attention

The

new

street

wear

collection

Interest: VB will arise interest to her consumers by implementing different marketing tools such as social media, TV advertisement and press relations helping to create conversation around the new collection. Relatable content will also be used to help trigger an emotional and desirability for the new consumer. The new collection also enables consumers to personalize their own women inspired slogan t-shirt which will create an interest as well as giving consumers a sense of identity.

Attention

Knowledge

Comprehension

Interest

Liking

Yielding

Desire: The communication campaign around the Street wear collection for the VB brand will build up a sense of urgency for the millennial consumer. Street wear brands are often “self – expressive brands” that consumers purchase in order to enhance their social status and express their individuality. By VB doing a street wear collection is will allow consumers to engage in consumption behavior, in part to construct their self concept (Emerald 2015) Action – In order for consumers to take action and purchase into the new VB collecton, VB will ensure

Affective

Conative

Awareness:

Preference Desire

Conviction

Retention

Action

Purchase

Behaviour

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Figures Figure 1 - Victoria Beckham Dover Street Market Interior [image] Available at: https://www.pinterest.co.uk/loulabell65/victoria-beckham/?lp=true [Accessed 2nd May. 2018].

73 Figure 18 - Victoria Beckham Collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/ Figure 19 - Victoria Beckham Collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 2 - Victoria Beckham Pree Fall Collection 2017 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 20 - Victoria Beckham Collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 3 - Victoria Beckham Pree Fall Collection 2017 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 21 - Victoria Beckham Collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 4- Givenchy Spa Metropole 2017 [image] Avaliable at: http://www.metropole.com/en/spa-montecarlo/spa_givenchy

Figure 22 - VB Spring Summer 18 Collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 5- Gucci instore at Dover Street Market [image] Primary Image [accessed 18th October]

Figure 23 - Victoria Beckham streetwear collection, chunky trainers [image] Avaliable at: https://www.pinterest.co.uk

Figure 6 - Charlottle Tillbury digital store in Covent Garden [image] Primary Image [accessed 18th October]

Figure 24 - Victoria Beckham store front, created on illustator [image]

Figure 7 - Supreme X Louis Vuttion accessible key ring [image] Avaliable at: https://www.crepslocker.com/products/supreme-x-louis-vuitton-downtown-tabbag-charm-key-holder

Figure 25 - Strategic Diamond Theory Adapted from Hambrick, D. C., & Fredrickson, J. W. (2001). Are you sure you have a strategy? Academy of Management Executive, 19 (4), 51â&#x20AC;&#x201C;62.

Figure 8 - Tiffany and Co The New Tiffany Fragrance [image] Avaliable at: https://www.tiffany.co.uk

Figure 26 - #VBB new collection media objectives

Figure 9 - Streetwear X Luxury mix and match [image] Avaliable at: https://www.pinterest.co.uk

Figure 27 - #VBB Pree fall collection 2017 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 10 - Graph showing the percentage of millennials that mix and match highstreet clothes and luxury clothes [image] Avaliable at: https://www.statista.com/ statistics/811139/generational-attitudes-to-mix-and-match-of-luxury-and-non-luxury-items-worldwide/

Figure 28 - New campaign Collection, created on illustrator 2018 [image]

Figure 11 - Victoria Beckham Pree Autumn Winter 17 2017 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/ Figure 12 - Victoria Beckham Instagram Screenshot 2018 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/ Figure 13 - SWOT analysis of Victoria Beckham created on illustrator [2018] Figure 14 - Victoria Beckham instagram screenshot of family [image] Avaliable at: https://www.instagram.com/victoriabeckham/?hl=en Figure 15 - Victoria Beckham collection example of sophisticated shapes and timeless colours [image] Avaliable at: https://www.victoriabeckham.com Figure 16 - Victoria Beckham Collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/ Figure 17 -Victoria Beckham collection [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/

Figure 29 - New #VBB Streetwear Collection, created on illustrator Figure 30 - VBB New Collection moodboard, created on illustrator Figure 31 - Victoria Beckham Pree Fall Collection 2017 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/ Figure 32 - Victoria Beckham Pree Fall Collection 2017 [image] Avaliable at: https://www.pinterest.co.uk/victoriabeckham/ Figure 33 - New hashtag #VBB Searched on Instagram, created in Illustrator 2018 Figure 34 - New Social Media campaign VBB Website, created in illustrator 2018 Figure 35 - New VBB streetwear collection, campaign sunglasses, created on illustrator 2018

74 Figure 36 - Mock Up Instagram accounts of Victoria Beckhams new streetwear collection [image] Avaliable at: Figure 37 -Millennial wearing streetwear, Leo Mandella prada [image] Avaliable at:https://www.pinterest.co.uk/pin/349240146094763846/ Figure 38 -Millennial wearing streetwear, Leo Mandella prada [image] Avaliable at: https://www.pinterest.co.uk/pin/349240146094763846/ Customer Pen Portrait Figure 37- Kensignton Houses [image] Avaliable at: https://www.instagram.com/p/BSYFPxaBWsA/ Figure 38 -Dior Spa [image] Avaliable at: https://www.instagram.com/p/BSYFPxaBWsA/ Figure 39- Family with one child [image] Avaliable at: http://www.thelist.com/65031/benefits-one-kid/ Figure 40 - Girl Power [image] Avaliable at https://weheartit.com/entry/262301828 Figure 41 - Women working out [image] Avaliable at https://www.dreamstime.com/stock-photo-attractive-fit-woman-working-out-abs-fitness-gym-luxury-resort-hotel-great-view-summer-vacation-image88268020