LINDSAY SAWERS WWW.LINDSAYSAWERS.WORDPRESS.COM LEVEL 6 MARKETING REPORT NOVEMBER 2015
AW | 1 5 MARKETING REPORT
Contents JOSEPH VINTAGE WEAR | MARKETING REPORT
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INTRODUCTION 003
EXECUTIVE SUMMARY AIMS & OBJECTIVES 005
INDUSTRY SITUATION 007
MARKET SITUATION 009
COMPETITOR ANALYSIS 013
MARKET RESEARCH & ANALYSIS CONCLUSION 015
CONSUMER ANALYSIS 017
BRAND ANALYSIS & OBJECTIVES 023
ACTION & IMPLEMENTATION PLAN 027
PROMOTIONAL PLAN 029
CONCLUSION 031
APPENDIX 041
BIBLIOGRAPHY
Introduction Joseph Vintage Wear (JVW) was established and launched in September 2015 by Economics and Fashion students, Tom Gilbert and Lindsay Sawers. Inspired by their love of vintage clothing, charity shop obsession, combined with their understanding of the
current economic issues faced by students following the disappearance of student loans came the concept of an easy to use, fashionable, affordable, recycled, quality clothing boutique. Joseph Vintage Wear was launched in late September aiming to offer Generation Y just that.
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Yesterday’s wardrobe, today’s creatives, tomorrow’s inspiration. Selling a range of vintage clothes JVW is recognised as value for money, quality, online, vintage fashion encouraging Generation Y, in particular cash strapped students and those on low income to favour the art of recycling while maintaining their originality and a unique fashion identity. JVW will riffle through the vintage rails, discards what’s outdated and over worn, selects items of quality and style and creates an on line cat walk collection of vintage outfits for the urban student allowing them dig deeper into this decade’s fashion and embrace the beauty of vintage from the comfort of their laptop. Recycled fashion made easy. Originality at prices they can afford. (From JVW website | www.josephvintagewear.com)
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Executive Summary It is this projects aim to create a strong brand identity for JVW and build brand awareness of this new brand to drive sales growth through repeat and new business. In order to achieve aims, the objectives are to look at four key areas:
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To strengthen the brand identity To enhance the website to attract more viewings and increase new business To build the brand’s presence on social networking sites and increase the following of the brand on social media platforms To build a ‘community’ of followers and a lifestyle identity this will develop customer loyalty and new business.
Delivery of these objectives will be supported by an action plan and range of marketing products based on analysis of the competitor market and target market from both primary and secondary sources.
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Industry Situation The UK fashion industry in the UK is growing. ‘At a press conference to open London Fashion Week Natalie Massenet, Chairman of the British Fashion Council, announced updated figures showing substantial growth in the UK fashion industry over the past five years.’ 14/02/14 as reported by FashionUnited. They also state ‘Total UK household consumption on clothing and footwear is €59 billion. Thus, British consumers spent about £900 on fashion per year’, above the EU average of €700. The Office of National Statistics tells us that the industry has grown 4.9% since these figures were published. And the forecast is for this growth to continue.
to order products online from the comfort of their home rather than venturing out to the high street. OfCom tells us that our average time spent online has doubled in a decade and that clothing was the most popular bought online good in terms of orders in 2014, the 25–34 age group spending most per head on online on clothing followed by the 16-24 age group. It is a good time to be entering the online fashion market in the UK.
The existing Vintage Clothing industry is thriving and it is clear that there is a growing demand for Modern Day Vintage clothing. Traditionally Vintage’ was a term used to Sales of goods via Ecommerce sites in the describe an item of clothing which is reused UK are currently predicted to grow at a rate and is in the style of a previous era. Modern of 16.8% this year alone according to www. day vintage, while previously worn, can be retailresearch.org. More people are opting as recent as even last year’s design.
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Modern day ‘vintage’ has been the response not focus on the quality of the clothes they to the needs of Generation Y, teenagers and sell. students living on budgets looking for a piece of clothing outfit that is unique but not costly. "I sell stuff which is in the style of vintage but everything I make is brand new. Too many Despite a lack on measured statistics a people are taking shoddy goods and selling questionnaire conducted on behalf of the them as vintage - the quality is going down," JVW brand (See Figure 1) revealed that 70% she said. of Generation Y who responded shopped at "Consumers won't be interested in two years’ charity shops. According to the Mail Online, time as prices go up and people become 22/11/15, ‘Fresh data suggests that the wise to it." number of charity shops in Britain has grown by 30 per cent in just five years and now tops The quality of the goods is therefore an important factor in the strategy of any the 10,000 mark.’ vintage clothing website looking to maintain Nearly all sell vintage clothing. Some of the its position long term. high street charities are beginning to expand to include online sales. 2012 saw the launch It is this insight into their market that has given of Oxfam’s online vintage store, BBC news JVW the confidence that their launch into the stated ’Charity Oxfam launched its vintage growing British fashion market, through an section online and saw sales through its online route to market selling quality vintage website shoot up by 400%’ This item however clothes to a target audience from teens goes on to warn us that the future may not be through 20s, recognising an opportunity for so bright for vintage clothing shops if they do long term growth.
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Market Situation Alongside the birth and growth of the shabby chic homeware genre, the rise in vintage clothes sales, noticeably to teens and twenties has skyrocketed in the past few years. In addition to researching the individual competitors and their strategies, a questionnaire was issued on behalf of JVW that 30+ Generation Y, mainly students aged 18 – 25, responded to. Some of their responses were then followed up with an interview (See Figure 1 in Appendix). This provided interesting insight into the vintage market as it currently stands.
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HIGH QUALITY
ASOS Marketplace Rokit Beyond Retro
L O W
True Vintage Clothing
Absolutely Vintage
P R I C E
Oxfam Vintage eBay
H I G H P R I C E
Charity Shops
LOW QUALITY
FIGURE 2
The Market research survey showed that 87% of Generation Y wears vintage or second hand clothes. Of those who wear second hand clothing but don’t shop in charity shops the point was made ’I can’t be bothered rummaging through other people’s old clothes but I’ll pay a bit more to buy from someone who’s done this bit already’. Students and teenagers are happy to leave behind rifling through the rails in their local charity shop taking to the Internet to find the quirkiest pieces. 100% of those who responded to the questionnaire used online store to buy clothes. But even on online stores, vintage items can be poorly displayed
and make spotting a unique piece difficult. ‘I look on eBay and sometimes buy from it but I often don’t like what I get, it doesn’t look good on me or doesn’t suit me.’ The alternative well-marketed sites are often over priced. (See Figure 2 for the Industry Positioning Graph) ‘I like Rokit but the prices are high and I don’t feel I should be paying that much for something someone else has already worn. If it had was a bit cheaper maybe I’d buy from them’.
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Competitor Analysis JOSEPH Vintage Wears competition follows a number of different routes to market. Certain brands not only sell online but also have brick and mortar shops to house their products. ‘Beyond Retro’, a warehouse turned retail store founded in 2002; ‘Rokit Vintage’ founded 1986, one of Camden’s many vintage babies that turned their stalls into a well-known brand. Both established UK vintage brands both aimed at students and teens and are in the top three websites results under ‘vintage clothing UK’ using Google search engine. Vintage events are becoming more popular taking a larger slice of the market than before. From students’ looking for vintage clothing finds, to older women feeling nostalgic and wanting to drink from floral printed tea cups like it’s the 1980’s! Lou Lou’s Vintage Fair, Winner of 'Best Vintage Fair' in the UK 2013, 2014 & 2015, pops up around UK all year round. The fair offers vintage stalls, entertainment and food. Each stall is open to anyone selling vintage products for rental, ensuring that Lou Lou’s Vintage fair remains fresh and ever changing. See Lou Lou’s Vintage Fair’s S.W.O.T Analysis for further details (See figure 3).
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A platform for lots of business to sell their products Lots of publicity More than just clothing, entertainment etc. Promotions for free tickets Strong branding
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Not often enough Not a wide spread target audience Small selection of stalls Entry fee costs Cash only, which can be off putting for customers
SW OT A permanent market style premises More vintage fairs over the country Gain more loyal sellers Offer free parking with any purchase
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* A high % of loyal customers are students who tend to move away after University * Stall holders save sellers costs by selling online * Becomes outdated
FIGURE 3
Customer Loyalty Quirky, well located stores, Camden, two Brick Lane stores & Covent Gardens Worldwide audience Rokit Recycle, turning unusable pieces into new garments 30 years behind them
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* Prices as high as regular high street stores * All four stores are based in London * Delivery starts at £4 which is expensive on average * They do not offer free returns
SW OT Opening shops elsewhere in the UK Global Expansion Expanding and Promoting their Kids-wear Student Discounts Pop up events
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* Smaller companies selling similar items for a lower price * Unable to find sell-able vintage wear * Heavy competition on the same streets that the stores are located * Loyal customer outgrow their ‘Vintage stage’
FIGURE 4
ASOS Marketplace has the same idea as Lou Lou’s Vintage fair, but their route to market is strictly online. Founded in 2010, ASOS.com branched out from a regular fashion Ecommerce site and, by opening ASOS Marketplace, provided a platform for the public to sell handmade items as well as promoting any small vintage businesses. The company now promote over 900 different boutiques through their website, selling different products and styles to different target markets all with different marketing strategies, identities and pricing structures.
of experience behind them, Rokit currently have 4 thrift stores all based in London and an up to date website that allows the consumer to purchase online. Rokit Vintage has a huge online presence on social media, with 15K followers on Instagram and 12K likes on their Facebook page. The brand uses a range of street style photos, mainly photographed locally in London, promotion pieces on specific items and a mixture of ‘throwback’ and comic images, creating their brand’s personality.
Rokit Vintage in-store business thrives on the positioning of their shops; Camden, Brick Lane & Covent Garden are the perfect location for unusual stores selling second hand goods. Teenagers flock towards Camden at the weekend, looking to buy something that their parents might hate Rokit Vintage is currently the company that JOSEPH and that allows them to make a statement-. Vintage Wear can learn the most from. With 30 years Alternatively consumer can ‘rummage through the rails’ sourcing their own vintage clothing at car boot sales, bidding wars on eBay or thrift stores, such as London’s own East End Thrift Store, which offers vintage wear in a ‘fill your own bag’ strategy.
Rokit Vintage provides the perfect purchase. If Rokit Vintage were looking to expand their business, they could invest in stores outside of The brands website shows a slide-show of editorial London, or holding pop up events. They could do a lot shots, showing models wearing Rokit Vintage more with promotions. They might consider offering clothing on location, this demonstrates subtly a brand discounts to students to compensate for their pricing lifestyle, although still focusing on the clothing. Each strategy e.g. promotions, free postage. They could item of clothing is shown photographed flat and also consider using models to display their product. others on a minimal mannequin and both front and back view are shown. Although this does draw the The branding of Rokit Vintage is also similar consumer’s full attention to the item that is for sale, to JOSEPH Vintage Wear. Both focus on a it can be hard to envisage how the item would look monochrome finish and their logos feature the on a person. Ultimately customers may not like the brands name alongside a small individual logo. products when they receive them and try them on. They also both have the recycling ethos in The product descriptions offer a clear title, product common, although Rokit Vintage focus on this description, care instructions, sizing, delivery and through there ‘Rokit Reycle’ collection, a range returns and most noticeably the condition of the of new garments created from old clothing, item, important in managing expectations of product JOSEPH Vintage Wear tackle recycling primarily quality when items have been previously worn. through their packaging. See Rokit Vintage’s S.W.O.T Analysis for further details (See figure 4).
What JVW Can Learn From The Market Research And Analysis A review of the market research and competitor analysis have resulted in a number of strategic decisions being made by JVW:
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JVW have considered their pricing strategy in terms of the market research which highlighted the need vintage clothing at reasonable prices. They have reviewed the SWOT analysis and identified a gap in the market for good quality vintage clothing a reasonable pricing. Along with the feedback form my market research and interviews comments prices will be set so that no item is priced above £25.
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JVW has recognized that vintage clothing is often sold at fairs and stalls and large businesses like Rokit began as a stall. They can consider expanding by putting on pop up events or holding stalls at markets.
3 4 5 6 Larger Vintage ecommerce businesses depend on their social media followings to promote their products and businesses. Rokit’s figures were particularly impressive and JVW must learn from this and expand build their brand awareness through social media following.
Asos’s expansion of their brand to include handmade work invites a wider audience to the site however this can dilute the brand identity if this is left to each individual. JVW will offer such a platform but will retain control of it’s identity to protect its brand.
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From reviewing competitors’ websites it is easy to identified some areas of strength e.g. ensuring the quality of the product was clearly described which is very important as the products are previously worn; the inclusion of a slide-show of shots created an array of moving lifestyle.
Rokit Vintage also offers a Kidswear collection, which JVW could look into this are in the future.
Consumer Analysis
The JVW customer is a vintage clothing enthusiast haunted by reminder of their limited bank balance or student overdraft when they invest in clothing. Their clothes define them as original and their worst fear is wearing the same outfit as someone else in the room. Our customer deserves credit for the ability to dress well and originally, hunting down a quality item of clothing at a bargain price. Their limited disposable income is juggled between unusual clothing finds and a retro vinyl to add to their growing collection. Spending their free time wandering through art galleries, drinking in quirky bars, with a love of film and music, new and old, they are happiest, rain or shine, at a festival or outdoor cinema. They are fascinated by eras gone by and if they had the time, they would choose to rifle through stalls in North Laine, Brighton or wonder down Brick Lane in search of the one off pieces they desire. They are lost without their Apple Mac, a confidence in a quiet moment and a friend to shop with when time is limited. They care about their world and want to protect its future, their values point to the idea of ethically saving the planet, one glass bottle at a time. See figure 5 for Consumer Pen Portrait.
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FIGURE 5
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Brand Analysis The Joseph Vintage Wear brand is positioned within the thrift shop, second hand and vintage apparel sector. These ranges of sellers stereotypically attract Generation Y, particularly teenagers and students who are aiming to create a unique identity rather than be one of the crowd, but are limited by their budget. Joseph Vintage Wears main products are vintage clothing. They currently stock menswear and womens-wear. Alongside this they have created a unique collection titled ‘His and Hers’, a unisex range. The focus on unisex clothing, something that is very on trend, pushes gender restrictions aside and allows the consumer to view items on both men and women. A collection of this nature is unique in the vintage sector, a USP. 001
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JVW present their products photographed on models ensuring the consumer can see how the product would look on as well as styled. This is unique to their website. This creates an impression of quality which the brand strives to deliver. JVW adopts a value for money pricing strategy while ensuring it is selling goods which are of good quality. Although many other vintage companies e.g. Beyond Retro, ASOS Marketplace etc. offer a similar range of clothing as JVW they are unrivalled in their prices. Their USP being all items are priced under £25 is based on a sales strategy of delivering a high volume of sales items at a low margin. This has the student budget in mind and identifies a gap in the market for a quality vintage lifestyle at an affordable price. See figure 6 for JVW S.W.O.T Analysis and figure 7 for JVW P.E.S.T Analysis. "Everyone is after vintage now, there was a time not too long ago when you could buy great vintage bits from charity shops, eBay and car boot sales, but now everyone is selling it online or buying for themselves and you can't get bargains any more." - Audrey Taylor, one half of the Kate & Aud’s vintage boutique.
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strengths
* Price range that is perfect for the student target market * A constant promotion, e.g. student discount or free postage * A strong brand image * Growing online presence * ‘His & Hers’ range is quirky and memorable, it is something that has not been done on vintage sites before * Branching out to not be just a clothing brand, but also a lifestyle will attract more student attention * A high focus on customer service * Keeping the team small ensures a lower percentage of the income going to pay the staff * Unusual packaging * Low prices compared to high street competitors such as Rokit and Beyond Retro Run by students; they have the same mindset as their customer
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strengths
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weaknesses * No brick & mortar stores (although this cuts down on rental costs) * Due to selling vintage products, some of the clothing shows signs of wear or damage * The price of a new brand attracting attention e.g. free postage and cheap clothing, does not bring in a huge amount of profit * Stock is reliable on what vintage clothing is on the market, such as charity shops and car boot sales * Not well known due to being a new brand * The business does not have the money to grow without quick sales * More garments would be necessary for expansion
opportunities
* Collaborating with bloggers & other brands * Pop up stalls * Festival stalls * Selling on other platforms such as ASOS Marketplace * Focus on the brands value of recycling, gaining publicity and making a connection with a charity * Enlarge women’s wear collection
FIGURE 6
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threats * Difficult economy * Competing vintage seller: cheaper prices, e.g. eBay and Depop * Large chains have more buying power * Older generation will not be interested in pre-worn
Due to JOSEPH Vintage Wear being a new brand, they have to consider taxation laws. At present with only the founders investing time and money in the business, they avoid employment laws and investor promises. The brand must insure that all of the vintage wear that they are selling is genuine. Keeping up to date with trends, both fashion and lifestyle will help JOSEPH Vintage wear to keep in touch with their customer on a personal level. Due to both founders being the similar to the brands target market, it gives the company an edge in being able to understand their customer, from education to spending patterns.
P O L I T I C A L S O C I A L
E C O N O M I C
Due to the struggling UK economy, the new brand may struggle in gaining loyal customers as their target market have less disposable income, however by keeping their prices low and under £25 they will attract people who are aiming for a cheaper purchase than their competitors. The growing brand might look into investing in outsourcing some of their branding products, such as labels as the business grows.
T E C H N O L O G Y
As technology grows, the company is able to easily sell online, allowing the customer to access the products as well as discount codes and promotions. The social media hype is a perfect way to gain exposure for the business. Technology allows the business to collect a mailing list and create a relationship with their customers.
FIGURE 7
Home Grown Welcoming Relaxed
Urban
Community Real
Personal
“Recovering Vintage Fashion”
Ethical Innovative
ty
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Lifestyle
FIGURE 8
s
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Creative
To uc
Pe
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Affordable
Po int
Witty
on ali
Va lu
Es
se
nc
e
Vintage
Joseph Vintage Wear will be promoted as a lifestyle rather than a label. This is a concept used by other on line fashion retailers such as Urban Outfitters but is unique to the Vintage sector. Their online blog will focus on lifestyle pieces rather than fashion alone. Travel, DIY, cookery, music and artwork pieces are updated for the JVW customers to read online. Joseph Vintage Wear website provides a platform for young creatives sell their work. This draws in a creative audience, and attracts other buyers and sellers. All artwork is original. Unlike ASOS, JVW will retain the branding of the sales forums they provide. Recycling is a theme that is considered at all stages of the sales cycle, form the initial product, through recyclable packaging. Labels and packaging used are in keeping with the vintage theme, a brown paper finish with cream string to hold each package together with the brand name printed on the side - the unusual 1930’s look becomes memorable to customers as it differs from the usual plastic postage packing. The JVW logo is subtly visible on the outside and inside of the packaging and the personalised delivery notes found inside the package are created on a typewriter, fitting with the vintage focus of the brand. And of course all packaging is recyclable. See figure 8 for JVW’s Brand Onion.
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Action and Implementation Plan Having reviewed the market place and customer in order to achieve the objectives, the next stage is to create and launch the following promotional tools and implement the outlined marketing plan:
JVW Fashion Photo Shoot
Although it is crucial to have commercial photos of every product you are selling available online, a fashion photo shoot does more than just sell the clothing, it sells a lifestyle. A fashion shoot tends to be more than just a white background and demonstrates a mood through lighting and the styling and location of the shoot. The photo shoot is intended to capture the lifestyle that is JVW and conveys this to the existing and potential customer. Focusing on more than the garments, the styled model will suggest hobbies, music, travel; and a specific type of person, active; go getting, contemporary: The JVW customer.
Produce a JVW Branded T-Shirt As JVW specialise in vintage clothing collected from a range of different brands, releasing their own simple clothing range will contrast with the used clothing already available. Focusing on the recycling ethos, producing simple logo t-shirts will be made more unique if the t-shirts themselves are 100% organic and made from recycled fabrics.
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JVW Lifestyle Video Film has become one of the most powerful tools in communicating ideas to Generation Y. Youtube.com 2015 statistics demonstrate that 1 billion people use the video platform every month. The short promotional film will advertise the brand and be suitable for JVW website along with social media forums such as Facebook and Instagram. It will instantly convey the brand identity to existing and potential customers. Rather than simply focusing on the clothing range, the film will capture the ‘personality’ of JVW. With short clips of thrift shops, photo shoots, Friday nights with friends, travelling on a budget; set to the background music of ‘Snake Oil’ taken from the new ‘Foals’ album, the viewer will not only be watching a visual customer profile, but will also be subconsciously viewing the brands collection at the same time.
Engage with Bloggers Appropriate to the JVW Audience With 92% of teenagers using the internet daily, 71% using Facebook and 55% using Instagram (according to Pew Research Centre’s 2015 survey), social media is an advertising platform that targets Generation Y. Bloggers are urgently viewed as being more influential when it comes to clothing than celebrities, and are of course, much more accessible. Building a relationship with a blogger who has a large audience that matches the profile of the JOSEPH Vintage Wear target customer would build brand awareness and social media following.
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Produce an Online Lifestyle Publication Max Vallot, marketing director of BLK DNM states “The consumer is much more likely to engage with independent editorial content than with conventional, purely product-focused advertising.� Putting together an online publication that is available on the brands blog reinforces the brand’s ethos. Branching out beyond fashion, the magazine will contain lifestyle pieces, a gallery for interviews with up and coming creatives, interior design and DIY articles on a budget as well as news on musicians on the verge of a break through. The readers will identify with the JVW brand and will feel invited to join in the community that it represents.
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Artwork by Joshua Gilbert
Artwork by Fiona Sawers
Create an Online Platform for Upcoming Creatives to Selll Expanding the Ecommerce site to allow artists and creatives to exhibit and sell their own work on JVW brings something unique to the brand. It encourages fellow students to get involved, providing them with the security of selling on a website that has already proven successful. Expanding the brand to promoting and selling art and homemade items widens the brand’s target audience. This will encourage additional hits on the site, building a wider following and will improve the brand’s status on search engine results. Additionally it will reinforce the ‘community’ identity that JVW aims to create..
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Promotional Plan
Brand Value Based on website traffic weekly average
Website Launch Menswear
PROMOTION Free UK Delivery
WEEK 1
Pre-Launch
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Facebook Store Opens
His Or Hers Range Launch
Women’sWear Range Launch
Branded T-Shirts On Sale Online
WEEK 2
WEEK 3
WEEK 4
WEEK 5
Paid Blogger Post Goes Live
PROMOTION PROMOTION Winter Photo AW15 JVW Online Branded T-Shirt Free UK Delivery Shoot Teasers Promotional Blog Goes Deal on Social MediaVideo Goes Live Live
WEEK 6
WEEK 7
WEEK 8
WEEK 10
Marketing Plan Launch
WEEK 11
Online Publication Posted on Blog WEEK 12
Post-Launch
FIGURE 9
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Conclusion
The previous action promotional action plan is aimed at delivering the initial objectives of strengthening the brand identity; enhancing the website to attract more viewings and increase new business; building the brand’s presence on social networking sites and increase the following of the brand on social media platforms and to build a ‘community’ of followers and a lifestyle identity which will develop customer loyalty and new business. Measurement of the success of the program of marketing activities will involve looking at each of the objectives over a time period. Some activities will have a short term impact e.g. the impact of a blogger’s write up about JVW impacted the website views immediately but for it to be viewed as successful a long term sustained impact must be looked at. Immediate impacts can be seen on the Promotional Plan Graph (Figure 9), demonstrating the rise in website views when each promotional tool has been released to the public. For the activities to be successful the JVW website must show sustained increased viewings and sales orders on it’s website, with a growth in both new and repeat business. A JVW Press Release has been created ready to send out to potential suppliers or advertisers in the future as the business has grown. (See figure 10) Creating a platform for upcoming creatives to sell has proven more difficult to develop than initially expected. While a number of people are keen to work with JVW it became apparent that more thought was needed to how to manage the process of delivery and payment. Clear terms and conditions between JVW and the sellers will need to be set up and agreed. This is an area the brand hopes to develop further in future.
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Appendix Figure 1: Survey Conducting a questionnaire was ideal Primary research in order to find out shopping habits and views on Vintage Clothing from JVW’s ideal target market. 32 people between the ages of 18-25 in a range of different locations answered the survey. Survey Monkey was used to create the survey.
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Figure 1 Continued: After conducting the online interviewed on their answers. embedded within the above
survey, a sample of the participants were informally Specific quotes were selected from these interviews and report regarding their answers to the surveys questions.
’I can’t be bothered rummaging through other people’s I’ll pay a bit more to buy from someone who’s done ‘I look on like what I
eBay and sometimes buy get, it doesn’t look good
old this
clothes but bit already’.
from it but I often don’t on me or doesn’t suit me.’
‘I like Rokit but the prices are high and I don’t feel I should be paying that much for something someone else has already worn. If it had was a bit cheaper maybe I’d buy from them’.
Figure 2: Industry Positioning Graph A positioning map allows you to be able to work out where brands sit in the target market and where there are openings. It also allows you to determine whether you will compete with your competition directly or will differentiate your product. Once placed it may make you rethink and reposition yourself. Below image taken from ‘Marketing Fashion’. Image included in report is a personalised Industry Positioning Graph suitable for the JOSEPH Vintage Wear brand.
Posner, H. (2011) Marketing fashion. London: Laurence King Pub. HIGH Fashionability- Strong interpretation of fashion trends
BRAND E BRAND C BRAND D BRAND B
LOW PRICE
BRAND A
LOW Fashionability- Strong interpretation of fashion trends
HIGH PRICE
Figure 3: Lou Lou’s Vintage Fair S.W.O.T Analysis Personalised to demonstrate the Lou Lou’s Vintage Fair Brand. (See Figure 6 for more details on S.W.O.T Analysis)
Figure 4: Rokit S.W.O.T Analysis Personalised to demonstrate the Rokit Brand. (See Figure 6 for more details on S.W.O.T Analysis)
Figure 5: Consumer Pen Portrait Collage A regular Consumer Pen Portrait is an informal description of a person who demonstrates the brands key consumer. This will focus on age as well as lifestyle and attitude. The Consumer Pen Portrait Collage presents the same thing via visuals. The JOSEPH Vintage Wear Collage concludes the ideal target market for the brand.
Figure 6: JOSEPH Vintage Wear S.W.O.T Analysis A SWOT analysis collates information gathered and enables you to see the internal strengths and weaknesses of the brand, showing potential opportunities and threats to the company. Once these have been established it is then used to work out how best to further the brand making sure opportunities aren’t being missed and that weaknesses are being addressed. Below image taken from ‘Marketing Fashion’. Image included in report is a personalised S.W.O.T Analysis suitable for the JOSEPH Vintage Wear brand.
Posner, H. (2011) Marketing fashion. London: Laurence King Pub.
Figure 7: JOSEPH Vintage Wear P.E.S.T Analysis P.E.S.T is Political, Economic, Social and Technological graph. A P.E.S.T analysis helps to determine how these factors will affect the performance and activities of your business in the long-term. It is often used in collaboration with other tools like the SWOT analysis to give a clear understanding of a situation and related internal and external factors. Below image structure and research is taken from ‘Mastering Fashion Marketing’. Image included in report and below is a personalised P.E.S.T Analysis suitable for the JOSEPH Vintage Wear brand.
Shaw, D. and Jackson, T. (2007) Mastering fashion marketing (Palgrave master series). New York: Palgrave Macmillan.
Figure 8: JOSEPH Vintage Wear Brand Onion The brand onion is a popular and effective device for showing a concise overview of a brand identity and how it is expressed in actual strategic actions. Brand onions are usually created by branding consultancies to show the results of a brand investigation or re-branding exercise. Once completed, the onion can be used as a guide to ensure that all aspects of the business and key brand touch points accurately reflect the brand values. Below image taken from ‘Marketing Fashion’. Image included in report is a personalised Brand Onion suitable for the JOSEPH Vintage Wear brand.
Posner, H. (2011) Marketing fashion. London: Laurence King Pub.
Figure 9: Promotional Plan Graph A promotional plan illustrating the brand value based on the weekly website traffic average is an ideal way to see if promotional and marketing strategies are having a short term and long term effect on the brand. The graph is split into three sections- Pre-Launch, Launch and Post-Launch. Although the graph does not stretch into the future, it will indicate which promotional plans are working most effectively.
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Figure 10: JOSEPH Vintage Wear Press Release In the future it will be crucial for JOSEPH Vintage Wear to send out a press release to any press that might be interested in the brand. This could be in the form of magazines or online companies, or sent to potential suppliers. Having a newsworthy press release can cause a great amount of attention for the brand as well as opening the brand up to new markets.
PRESS RELEASE
FOR IMMEDIATE RELEASE
25th October 2015 Lindsay Sawers 07969619969 josephvintagewear@gmail.com www.josephvintagewear.com
JOSEPH VINTAGE WEAR
“RECOVERING VINTAGE FASHION”
Joseph Vintage Wear works to use yesterday’s wardrobe as tomorrow’s inspiration.
Josephvintagewear.com has become the core of online vintage fashion, offering a marketplace platform for newly emerging designers and artists to sell own branded exclusive items; this is more than just an Ecommerce site.
With their unique gender-neutral ‘His & Hers’ collection, determining an eco friendly mantra and looking into quality over quantity, Joseph Vintage Wear still focuses on ensuring that every product is at an affordable price.
Joseph Vintage Wear allows the urban student to dig deeper than this decade’s fashion and embrace the beauty of vintage.
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ALL UNLABELLED IMAGES : ALL JVW BRAND IMAGES ARE OWN IMAGES- Pages: Title, 1, 4, 17, 18, 19, 23, 24, 25, 26. IMAGES ON PAGE 11 ARE TAKEN FROM WWW.ROKIT.COM IMAGES ON THE FOLLOWING PAGES ARE TAKEN FROM PINTEREST: 5, 11, 15, 21, 27, 28.
Bibliography Canocchi, C. (2014) Three quarters of Britons shop online, says the ONS. Available at: http://www.thisismoney.co.uk/money/news/article-2719087/ONS-Three-quarters-Britons-shop-online-half-use-internet-banking.html Dhalla, A. (2012) How luxury brands are using video to engage customers. Available at: http://videocommerce.com/blog/how-luxury-brands-are-using-video-to-engagecustomers/ (2013) Facts and figures in the UK fashion industry - statistics about the fashion business in England - size of economic activities Available at: https://www.fashionunited.co.uk/facts-and-figures-in-the-uk-fashion-industry#UK1 Hardman, R. (2013) Save the British high street? You might as well try and raise the dead. Available at: http://www.dailymail.co.uk/news/article-2414495/Britains-High-Streets-charityshops-bookies-coffee-chains.html Cath Kidston Home Available at: http://www.cathkidston.com/thestorysofar/content/fcp-content Hot new brands | labels & vintage boutiques | ASOS marketplace Available at: https://marketplace.asos.com/?channelref=paid+search&affid=15721&gclid=Cj0KEQiAj8uyBRDawI3XhYqOy4gBEiQAl8BJbXLvixU_rnHXbHegU01Q2DiHLsI_6flYdSC9mHikRH4aAu3Y8P8HAQ Kasprzak, E. (2012) Vintage style: The rise of retro fashion. Available at: http://www.bbc.co.uk/news/uk-england-17667524 Lenhart, A. (2015) Teens, social media & technology overview 2015. Available at: http://www.pewinternet.org/2015/04/09/teens-social-media-technology-2015/ McKay, H. (2011) Bloggers have more influence on purchases than celebrities, study says. Available at: http://www.foxnews.com/entertainment/2011/04/13/bloggers-influence-purchases-celebrities-study-says/ Moore, G. (2012) Basics fashion management 02: Fashion promotion: Building a brand through... Available at: https://books.google.co.uk/books?id=9W1MAQAAQBAJ&pg=PA106&lpg=PA106&dq=why+have+a+fashion+promotion+video&source=bl&ots=L7aMtnibUm&sig=kBBjORFr0p0jP_K48xo42V3Cxu4&hl=en&sa=X&ved=0CDAQ6AEwBGoVChMI27W5w-
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Moore, G. (2012) Basics fashion management 02: Fashion promotion: Building a brand through marketing and communication. Lausanne: AVA Publishing SA. Online retailing research - centre for retail research, Nottingham UK (2014) Available at: http://www.retailresearch.org/onlineretailing.php Online retailing research - centre for retail research, Nottingham UK(2014) Available at: http://www.retailresearch.org/onlineretailing.php Pfeiffer, A. (2014) Fashion brands say publications are a good investment. Available at: http://www.nytimes.com/2012/02/22/fashion/22iht-rbrand22.html?_r=0 Posner, H. (2011) Marketing fashion. London: Laurence King Pub. Rastogi, P. (2014) How to build a great online fashion brand - 34 things that really amazing fashion retailers do. Available at: https://moz.com/ugc/how-to-build-a-great-online-fashion-brand-34-things-thatreally-amazing-fashion-retailers-do Retro vintage clothing London, Rokit vintage clothes shops online Available at: http://www.rokit.co.uk/ Shaw, D. and Jackson, T. (2007) Mastering fashion marketing (Palgrave master series). New York: Palgrave Macmillan. Smith, C. (2014) ‘120+ amazing YouTube statistics’, Social Media, 23 April. Available at: http://expandedramblings.com/index.php/youtube-statistics/ Statistics, O. F. N. (2015) Retail sales, January 2015. Available at: http://www.ons.gov.uk/ons/rel/rsi/retail-sales/january-2015/stb-rsi-january-2015. html#tab-Sector-Summary The UKs leading vintage fair- Lou Lou’s Vintage Fair Available at: http://www.thevintagefair.com/ Time spent online doubles in a decade (2015) Available at: http://media.ofcom.org.uk/news/2015/time-spent-online-doubles-in-a-decade/ Vintage home: Beyond Retro Available at: http://www.beyondretro.com/en/ WEAR, J. V. (2015) Home / JOSEPH VINTAGE WEAR. Available at: http://www.josephvintagewear.com/ Weinberg, T. (2015) 12 ways brands can collaborate with influential Bloggers. Available at: http://blog.hubspot.com/agency/collaborate-influential-bloggers team, eZonomics (2014) In which season do you spend the most money? | ING eZonomics. Available at: http://www.ezonomics.com/polls/in_which_season_do_you_spend_the_most_ money/ 042
MARKETING REPORT | NOVEMBER 2016