Media Plan Kellen Mulcahy Intro to Media
Situation Analysis ❖
Maje offers contemporary womenswear, shoes, and accessories
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Youngest brand under the SMCP Corporation ➢ ➢
Founded in 1998 in Paris by Judith Milgrom, expanded overseas to the U.S. in 2011 150 shops worldwide ■ Free-standing boutiques in major cities ■
Corner-store locations inside Saks Fifth Avenue and Bloomingdales
■
E-commerce sites including Net-aPorter, Gilt, and the RealReal
Situation Analysis ❖
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Strengths ➢ Privately owned/family owned ➢ “Accessible luxury” (on trend, quality garments for a reasonable price) ➢ All collections designed in Paris ➢ Exceptional customer service Challenges ➢ Weak brand recognition in the U.S. ➢ Lack of IMC in the U.S. (only advertise on social media) ➢ Brand dilluded due to frequent markdowns
Industry Analysis ❖
Top-Line Numbers (Fashion Industry) ➢ ➢ ➢
$1.2 trillion global industry $250 billion spent annually in the U.S. 1-10% of revenues spent on advertising (3% market share) ■ Push towards digital
Key Competitors Among Maje’s top competitors are The Kooples, Alice and Olivia, and Rag & Bone. These brands occupy the same contemporary marketplace and product selection (womenswear, shoes, accessories) as Maje. In addition, these brands are often placed near each other in corner stores and therefore attract similar walk-through traffic. Rag & Bone and Alice and Olivia have an advantage in the U.S., as they were founded in the states. Whereas The Kooples, like Maje, was just recently introduced in the states and therefore faces the same challenges of brand awareness in the U.S. All three of these brands are very visible in print and digital advertisements.
Competitive Analysis ❖ ❖ ❖
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Distinguishable, innovative designs spark curiosity from light/non-users Consistent silhouettes and customer service increase customer loyalty Position in the “affordable luxury” market allow high-quality, trendy designs to be accessible to a larger customer base Relationship to well-known “sister” store (Sandro) contributes to brand awareness from word-of-mouth and cross-traffic
Marketing Objectives ❖
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Objectives ➢ Build top of mind awareness and purchase consideration in the U.S. ➢ Increase share of market by at least 5% Target Audience ➢ Consumers of luxury fashion
Target Audience ❖
Demographics ➢ ➢ ➢ ➢ ➢ ➢
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Female 25-45 years old HHI: $75,000+ Career oriented Married Lives in urban area
Psychographics ➢ ➢ ➢ ➢ ➢
Quality focused and on trend Feminine, flirtatious, laid back Enjoys attending concerts and art galleries Organizes brunches/dinners with friends Travels often
Media Objectives â?– â?– â?–
Maintain high level frequency for digital and print advertisements Maximize digital media impressions Maximize reach during collection launches and peak buying seasons with OOH and print advertisements
Geography â?– â?–
National campaign in major U. S. cities with Maje locations Urban areas yield high exposure to selected media vehicles and build brand awareness to ultimately increase share of market
Seasonality ❖
Sales increase towards the beginning of each season as consumers are looking to fill their closets with a new, trendy wardrobe ➢ ➢
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February/March(Spring/Summer) August/September (Fall/Winter)
Release major seasonal campaigns in January & July to advertise new collections
Media Strategies â?– â?– â?–
Maje lacks visibility in the fashion market compared to competitors, especially in print and OOH media. Time & Place: Integrated marketing campaign will capture the Maje woman in her natural habitat, whether she is at home or on-the-go Quality and Innovation: Elevate brand image and spark curiosity among consumers of luxury fashion
Media Strategies 1)
Begin campaign with billboards and print media to quickly reach consumers and spark interest in brand
2)
Add digital media to build awareness and prompt purchase consideration
3)
Translate brand values and increase brand loyalty with special events
Traditional: Magazines ❖ ❖ ❖ ❖
Fashion publications are a trusted source for style inspiration and advice Placement in high-fashion magazines creates exclusivity Ability to produce high-quality images that maintain brand attributes Niche market of luxury fashion consumers who place an importance on quality and innovation
Vogue ❖
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“Vogue reports on the changing roles and concerns of women, covering not only evolutions in fashion, beauty, and style, but the important issues and ideas of the arts, health care, politics, and world affairs” Circulation: 1,267,754 Published monthly 12 times/year Rate: $186,708 per insertion (6times/year)
Harper’s Bazaar ❖
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“Bazaar devotes its editorial solely to fashion and beauty to provide readers with a focused environment that is both sophisticated and accessible.” Circulation: 749,719 Published 10 times/year Rate: $154,160 per insertion
Marie Claire ❖
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“Marie Claire covers the latest trends in fashion, beauty, sex, relationships, health and more.” Circulation: 1,011,407 Published monthly 12 times/year Rate: $166,400 per insertion
Elle ❖
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“Readers come to ELLE for fashion and stay for its thought-provoking mix of culture, controversy, and cool.” Circulation: 1,112,242 Published monthly 12 times/year Rate: $176,790 per insertion
Magazine Budget Recap Magazine
Circulation
Cost per Insertion
CPM
Number of Insertions
Vogue
1,267,754
$186,708
$147.27
12
$2,098,992
Harper’s Bazaar
749,719
$154,160
$205.62
6
$924,960
Marie Claire
1,011,407
$166,400
$164.52
6
$998,400
Elle
1,112,242
$176,790
158.95
12
$2,121,480
Total Impressions: 4,141,122
Total Cost
Total Insertions: 36
Total Cost for Magazines: $6,143,832
Interactive Advertising ❖
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Social Media Sponsored Ads ➢ Platforms: Instagram, Twitter, Pinterest, Facebook ➢ “Buy Now” feature creates immediate need to buy ➢ Quality insight and feedback gained from comments/likes ➢ Engages with consumers and starts a conversation ➢ Directs consumers to brand website for more information Banner Ads ➢ Tailored to fit consumers interests ➢ Serves as effective reminder advertising to prompt immediate purchase ➢ Placed on top of competitors websites to direct audience back to Maje website ■ Contemporary fashion brands (The Kooples, Rag & Bone, Alice & Olivia)
Interactive Budget Recap Form
Impressions
Cost
Social Media
50 million
$500,000
Banner Ads
100 million
$1,000,000
Total Impressions: 55 million
Total Cost: $1,500,000
Out of Home: Wallscapes ❖
Maximize reach by Intersecting with women during their daily routine in busy urban settings, while they are traveling to/from work and home ➢
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New York, Miami, Los Angeles, San Francisco, and Chicago (top cities with Maje stores)
Demand attention with high-quality graphics/moving images Great media vehicle for reminder advertising Ideal for release of seasonal campaigns due to long-term placement and geographic control ➢
Q1 and Q3 (January-March and July-September)
OOH Budget Recap City
Cost per Quarter
New York
$130,000
Miami
$100,000
Los Angeles
$150,000
San Francisco
$160,000
Chicago
$90,000 Total Cost: $990,000
Marketing Services Media: In-Store Events ❖
Every store will invite a key fashion influencer in the area to host an instore charity event in October in which 20% of profits will go towards breast cancer support and awareness ➢
All current clients will receive handwritten invitations
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Event will be advertised on local radio stations and digital media (social media/website)
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Promote brand values and show support for women around the world Create a supportive community of women within the fashion industry
Events Budget Recap Type
TRP/Impressions
Cost
Radio
50
$425,000
Website
2 million
$200,000
Social Media
1 million
$100,000
Direct Mail
2,000
$10,000
Total Cost: $735,000
Budget Allocation Media Vehicle
Cost
Magazines
$6,143,832
Interactive
$1,500,000
OOH
$1,260,000
Events
$735,000 Total Cost: $9,638,832
Flowchart
Conclusion By maintaining a high-level of frequency of traditional print advertisements and maximizing reach and impressions with outof-home and digital media vehicles, Maje will gain top-of-mind awareness among consumers of luxury fashion. This awareness will result in increased sales and ultimately a 5% increase in market share by the end of the year.
Sources ❖ ❖ ❖ ❖ ❖ ❖
http://us.maje.com/ http://www.lamar.com/InventoryBrowser https://www.gfkmrismartsystem.com/UniversityReporter/Report.aspx http://next.srds.com.colum.idm.oclc.org/nmp/ https://maloney.house.gov/sites/maloney.house.gov/files/documents/The%20Economic%20Impact%20of% 20the%20Fashion%20Industry%20--%20JEC%20report%20FINAL.pdf http://www.statista.com/statistics/264962/distribution-of-global-advertising-spending-by-industry/