Dimitrios Alevizos
Brand’s Statement
Mr porter carries a very interesting marketing strategy behind it and that’s one of the reasons why today is that successful. First it belongs to the YOOX group which was first made for net a porter in October 2005. This brand was made only for women’s clothes and was highly respected from the very first years. Few years later this company decided to make a similar online retailer keeping the same concept but just for men’s and they called it Mr. Porter. That was a pretty smart plan since they already knew what made net a porter so successful that tried to make the same at Mr porter by following the same marketing strategy. First as a brand they thought of what kind of profile they would want to attract, which was a stylist man, innovator, influencer and a premium seeker. More specifically they wanted the persona of the man to be around 35 years old, having a good household income, more than 12 trips annually and a high annual spending on fashion. Their audience would be more than 90% men and the other 10% would come from women that would look to buy a gift for their friend or husband. They already knew that their content would attract mostly married guys rather than single ones as their statistics show more than 60% of their audience are married. Mr porter’s geographic strategy was mainly started in the US even though the company’s roots are based in United Kingdom. After having a big annual profit as a brand they extended into more countries such as Italy, France and Australia – nowadays they service worldwide. Since their website was going so well they decided to extend it by creating also a mobile version / application, which was important at that time because not many other online retailers had. A year later they created The Post, which was Mr porter’s newspaper printed in a tabloid format. This post’s main purpose was to advertise several of their products but most importantly to give style advices to all the men out there. The post also focused on giving the idea of global fashion rather than just British. The fashion-style newspaper was published monthly and had a unique and targeted distribution strategy. Each issue of the post had placements at some worldwide important events such as Monaco Grand Prix, Wimbledon and Art Basel HK. As a brand, they are always trying to corporate with big names such as Jaguar, which they know share similar audiences. In that way; more people and more people will eventually get committed to Mr Porter.
Consumers mr porter’s worldwide %
ITS AUDIENCE
DEMOGRAPHICS
SCREEN FRIENDLY
MRPORTER PRINT
ITS SUCCESS
THE CHARTS
Galaxy map BEFORE
Competitors Products Concepts
Different
Brand Attributes
Sport Zalando
Blazers
Comfort
Exclusivity Accsesories
Suits Formal
Respect
Shoes Trousers
Sport Can Be Luxurious Too
Okini Chic Price
Jackets & coats
Investment Trendy
Sweaters Knitwear
Expensive Yoox
Casual
Swimsuit Pyjamas
Better TopMan
MR PORTER
Jeans Asos
Galaxy map AFTER
Competitors Products Concepts Sport
Comfort Suits Formal
Blazers Exclusivity Accsesories Respect
Shoes
Trousers
Chic Different
Brand Attributes
Everything
Jackets & coats
Sport Can Be Luxurious Too
Real Estate
Investment
Cars Trendy
Sweaters Expensive
Knitwear
MRgoodlife Choices Swimsuit Better
MR PORTER
Jeans Cereal
MR
POR
TER
PYRAMID’s BRAND CHART respect to the people POLITE MASCULIN GENTLEMAN SOPHISTICATED LOOK CHIC & CONFIDENT TRENDY SPECIAL QUALITY TASTE / STYLE COMFORT SAFETY HIGH END RETAIL BRITISH LUXURIOUS BRAND
BRAND IDEA BRAND PERSONA EMOTIONAL BENEFITS FUNCTIONAL BENEFITS ATTRIBUTES
Quadrant Map BEFORE
Luxury
MRPORTER OKINI YOOX ZALANDO Street Style
Gentleman
ASOS
TOPMAN Value
Quadrant Map AFTER
MRPORTER
Luxury
MRgoodlife
Cereal
Street Style
Gentleman
Value
Brand Asset Valuator Pillars Before energized differentiation
relevance
ESTEEM
MR PORTER
KNOWLEDGE
BRAND ASSET VALUATOR PILLARS After energized differentiation
relevance
ESTEEM
MR PORTER
KNOWLEDGE
Brand Personality Spider Chart Before
Consistency
Uniqueness
Affordable
knowledge
LUXURIOUS
LOYALTY
MR PORTER
Brand Personality Spider Chart After
Consistency
Uniqueness
Affordable
knowledge
LUXURIOUS
LOYALTY
MR PORTER
BRAND’S SWOT Since my brand is online based I will focus my SWOT questions/ARGUMENTS on the customer satisfaction because I believe THAT IS more important to MRPORTER
BRAND’S SWOT QUESTIONS STRENGHTS (INTERNAL) • Are there any elements of your business that make you especially valuable to customers? • According to your customers, what makes your competitor successful in customer service? • What can you do better than your competitors? • Why is MRPORTER performing so well and which are its differentiating factors?
BRAND’S SWOT QUESTIONs Weaknesses (Internal)
• Are customers asking you for something you cannot provide? • What are the most obvious weaknesses your competitor has with respect to customer service? • What do your customers continually complain about with respect to how your competitor services them?
BRAND’S SWOT QUESTIONS Opportunities (External)
• Are there new trends that MRPORTER is in a position to jump on? • What opportunities has your competitor secured because of how well they’ve serviced their customers? • What customer service strategies did your competitor adopt that helped them to closed these opportunities?
BRAND SWOT QUESTIONS Threats (External)
• Is the technology still relevant? • What customer service mistakes has your competitor made that led to them losing business? • Is your competitor planning to change something that will make their customer service suffer in the eyes of customers?
Brand SWOT ANALYSIS before STRENGTHS
WEaknesses
- Stock is organised efficiently. - High level of customer interaction - Same day delivery seperates them from their competitors. - Great visual representation. - Good lightning and photography increases the customers to buy.
opportunities
- Very niche customer base, which could potentially limit the potential profit of the company. - Limited collections since Mr. Porter does not buy the designers full collection only what believes that will sell so many fashion lovers don’t have many options.
THREAtS
- Due to the lack of presence in wealthy mainland China and the Middle East, Mr. Porter could pootentially aim campaigns towards these areas. - Mr. Porter / Golden Section that more luxurious products would be there such as cars - Real Estate
- What happens when the trend of online shoppinh ends? - Innovation is key, there is a risk that Mr. Porter will run out of ideas that will keep them on top. - Lack of physical Mr. Porter stores.
MR PORTER
Brand SWOT ANALYSIS AFTER STRENGTHS
WEaknesses
- Stock is organised efficiently. - High level of customer interaction - Same day delivery, existence of real estate and Mr. Porters Golden seperates them from their competitors. - Great visual representation.
opportunities
- Very luxurious, which could potentially limit the potential profit of the company since few people can actually afford the products.
THREAtS
- Due to the lack of presence in wealthy mainland China and the Middle East, Mr. Porter could pootentially aim campaigns towards these areas.
- What happens when the trend of online shoppinh ends? - Lack of physical Mr. Porter stores.
MR PORTER
SIGNIFIER of MRPORTER
hand IN THE POCKET
New SIGNIFIERs of MRPORTER
GOLDEN VS SILVER
New ‘key’ products The potential of Mr. Porter is to create multiple city guides maybe corporate with companies such AS Cereal Magazine and Mr. Goodlife to create something beautiful and luxurious in form of a print.
New ‘key’ products WILL HAVE their golden section that would be even more exclusive only for few people, which could afford buying the “big” things - such as cars and more. All the rest that exists now would still be under the silver section
New ‘key’ products Most importantly they could create a real estate agency that would sell apartments for the “real” Mr Porter persona – would corporate with the most international and luxurious real estate agencies of the world
ADOPTION Chart
26% early adopters
30% 28.5% late early majority majority
2.5% innovators
MR PORTER
13% LAGGARDS
Definition of our target audience my brand’s main target is early adopters that’s why there’s a big percentage (26%) in that column Mainly our audience have the below characteristics; • 10 personal trips per year • average age of 35 years old • $170.000 average household income • $20k average annually spend on fashion
According to Maslow pyramid of needs MR PORTER FOCUSES MOSTLT INTO THE TWO TOP STAGES OF MASLOW’S PYRAMID; WHICH INCLUDE SELF ACTUALIZATION AND SELF-ESTEEM / CONFIDENCE IT ALSO HAS A BIT OF THE 3RD STAGE; WHICH IS RELATED TO THE SOCIAL NEEDS OF FAMILY AND FRIENDS even though THAT’S QUITE LIMITED since MR PORTER IS ONLY FOR MEN
Our target audience according to Vals framework makers thinkers
innovators
believers STRIVERS
SURVIVORS achievers EXPERIENCERS