Final Development Project- BOOMERANG Studio

BOOMERANG Studio

Brand Devopment Project

LIU HUICHAO 11/2019

Brand Profile Boomerang Studio is womenswear designer brand based in China.

Boomerang Studio is a designer brand targeted and inspired by struggling independent women who is positive and confident, with a mission to meet the needs of customers with the right price and outstanding fashion sense.

Studio mainly sales product online, and will try a variety of marketing modes in line with the current market. The brand will actively cooperate with its factories to realize the pre-sale mode and reduce costs to achieve relatively low pricing.

TABLE OF

CONTENT

- Assessment of Market Opportunity - Mission and Objectives - Brand Value & Identity & Personality - Customer Profile - Competitors' Analysis - Self-analysis (SWOT Model) - Marketing Mix (4P) - Marketing Development Strategy

Price Positioning

‘Worldwide Luxury Market Monitor Spring 2019’

According to the report, the new middle class shows the low price sensitivity and has certain consumers in all price segments. In 2018, young women's consumption was concentrated within RMB200.

Wi t h t h e i m p rove m e n t o f their consumption capability, young people's consumption of womenswear above RMB200 increased significantly while the fastest growth in the high-end segment above RMB700 .The price of XXX currently corresponds to a high penetration rate of consumer groups and has a high segment growth rate, especially among young people.

Market Analysis

Designer Brands' Development Prospect The notion that luxury brands are the absolute trendsetters is quietly changing. Recently, Bain & Company and Fondazione Altagamma released the latest report of 'Worldwide Luxury Market Monitor Spring 2019’, which shows that more and more Generation Z are keen to try new things, and niche designer brands are increasingly becoming popular for young people.

The womenswear industry trend report of 2019 from CBNData showed that China's continuous increase of residents' consumption ability and consumption scale, China is expected to remain the world's No. 1 fashion consumer market in 2019. In the future, the rise of the new consumption requirements of middle and wealthy classes and new young people become one of the main driving force of China's consumption growth .More diversity and high quality is a new choice for millennials and the new middle class. On the whole, young lady style, international fashion, fast fashion and mature woman style account for a high proportion of the overall market while the highest segment growth rate shows the great market potential of designer brands. Bommerang Studio as a designer brand is based on the young lady style and has unique brand style and design ,having an objective segment size.

Market Analysis Advantages of Chinese E-commerce Platform

In 2018, T-mall launched the DT innovation program to support independent Chinese designers, in addition to working with New York fashion week creating T-mall China Day, T-mall also opened the imagination for the digitization of the fashion industry through Shanghai fashion week. In addition, the DT innovation program also aims to use data to forecast fashion trends to help designers better position products and prices to strengthen supply chain capacity.

Starting from 2018, T-mall has excavated the segment of blue ocean market on the platform according to the fashion trends every season and provide designers with information.Designers began to skillfully use T-mall data to develop products.

Compared with traditional retail mode, opening a shop in T-mall can fully present the designer's design of each season and clearly establish the brand image. At the same time, it can also establish direct communication with consumers, so that users' entering, browsing and purchasing habits can be clear at a glance. For Boomerang studio, whose main distribution channel is online e-commerce, T-mall provides a perfect development, promotion and retail platform.

Mission and Objectives : Boomerang Studio aims to meet its customers’ demands by providing high quality products which have a strong personal style whiling follow the current trend . Boomerang Studio will mainly pursuit of extremely nice design and pattern making ,to create a unique, high quality fashion brand, at a price acceptable to the lower middle class. And filling the gap of fashion market facing to Lower middle class .Boomerang Studio will achieve this mission by following a range of marketing plan which includes developing appropriate cooperation mode with good fabric manufacturers and processors and developing relatively appropriate marketing strategies.

Brand Identity Prism BOOMERANG Studio

Physique:

Personality :

Minimal, Aesthetics, Pure, Nice craft

Confident, elegant , independent ,mature

Relationship :

Culture :

Exclusive, Minimalism, Social

High quality, French aesthetic, Fair price

Reflection :

Self-Image:

They are independent, highly effective, high-education, fully-positive attitude and self-discipline.

I am independent.

I am ambitious .

I am very tasteful.

I belong to my time.

Picture of Receiver

Externalizatin

Internalization

Picture of Sender

BOOMERANG Studio

VALUE , BELIEFS ,HEART

WHO AM I Brand Value

As a designer brand, we adhere to our unique core style but also following fashion trend.

Providing high quality products.

Our Audience is metropolitan ladies from lower middle class to new middle class.

Providing professional styling advice to raise personal image.

BOOMERANG Studio BOOMERANG Studio BOOMERANG Studio

Behavioural User Occassion: Business hours, Daily Life, Attending Art Cultural Events Benefits Wanted: Image enhancement Loyalty Level: High Hobbies & Interest: Reading, Travel , Exhibition

Customer Profile

Demographics

Psychographics

Geo-demographics

Age: 23-45ďźˆMainly the Millennials

Lifestyle: Fashion conscious/ Mental Works /Busy but also take times to dress chic/ Spend money on appearance

COO/Country of Origin: United Kingdom

Marital Status: Single/Married Income: Upper RMB 6000 (GBP700) Social Image : U r b a n i n d e p e n d e n t yo u n g women Location: Major City Occupation: Office workers / Fashion-related

Personality type: Independent, Self-expressive, Fashionable, Self-esteem Spending attitude: Prefer design and quality than economy

Country: Worldwide, mainly focus on China Climate Zone: Mediterranean, Temperate, Tropical, Subtropical

Education: Well-Education

BOOMERANG Studio

Social

Shopping

Work

Beauty

Name : Cheng Age : 30 Occupation : Lawyer City : Shanghai

BOOMERANG Studio Lifestyle

Travel

Fitness

Cheng is 30 years old excellent lawyer who works at a famous law office.Jobs own a huge percentage of her time.She is very busy but she still takes times to dress chic in her everyday life .

She is ambitious and determine at work .In the meantime ,she is highly effective and has clear plan at work.

She is independent who achieved economic independence. She buys clothes regularly no matter how busy she is. She likes minimal and elegant style and sticks to her unique style rather than follow the fashion trend.She spends spare time on reading ,travel and exhibition to improve herself and relax.As a modern women, she approached her goal with a fully-positive attitude and determination.

COMPETITORS ANALYSIS

Jane Studio

Perceptual Map S/W Audit

High Price

High Quality

Low Quality

Jane Studio

Low Price

Jane Studio

Product

Price

Promotion

Place

Womenswear , Shoes, Accessories

Womenswear , Shoes, Accessories

￡8- ￡500

￡5- ￡100

￡40- ￡1400

￡10- ￡1600

￡10- ￡1600

KOL, Social media

Fashion Runway, Social media, Celebrity Endorse

Fashion Runway, KOL, Collaboration,Social media,Celebrity Endorse, Campaign

Fashion Runway, Social media,Celebrity Endorse

E-commerce

Retail boutique, E-commerce platform, Department store

Retail boutique, E-commerce platform, Department store

Retail boutique, E-commerce platform, Department store

KOL, Collaboration, Social media

E-commerce

Womenswear , Womenswear , Shoes, Womenswear , Shoes, Accessories Accessories Shoes, Accessories

HOMEPAGE

S E L F - A N A LY S I S

Strength: -Unique brand style which has the high public acceptance (wearable and limitless).

-Innovated product design.

-Following the current fashion trend.

-Affordable pricing.

-Strong brand culture .

-Strict quality control in material and processing .

-Easily consumption by e-commerce.

-Providing prominent and strong styling advice.

-Own the factor y, more easily to control the quality and the processing cost.

-Using Pre-order mode to lower the risks.

Weaknesses: -No physic store to present the company culture .

-Lack of chance to try kinds of look advices given from company.

-Design and development will cost money and time.

-High marketing investment -It will takes long time to accumulate customers with high loyalty.

-Late entrant in Chinese E-commerce market.

Opportunities: - Wo r k i n g t o g e t h e r w i t h f a s h i o n r e l a t e d inter net star or public number to raise awareness.

-Collaborate with popular IDs to raise awareness.

-Speed up pre-order mode, consumers will receive products earlier.

-Expand Product categories such as fashion jewelleries, shoes and head wears.

-Using the advantage of the company-owned factory to reduce the cost.

-Having a public number of posting fashion related knowledge and giving styling advice to develop customers.

-Rapidly development of Chinese e-commerce and logistics.

Threats: -High level of competition in Chinese e-commerce market whiling consumers are more price sensitive rather than focus on the quality and design.

-High level of competition with well-known brands which have the similar style.

-Plagiarism is very serious in Chinese fashion market .

-Difference preference of style and colours for customers.

-The Increasing labor cost and cost of materials.

-Raising of the cost of materials.

-Economic devaluation .

-Market saturation .

SHOPPING PAGE

4P Price : Boomerang Studio priced at middle-low level, between designer labels and mass market. Most of shirt will be priced at around ￥50 and coats will be priced at around ￥100. . While the limited collection using unique materials and exclusive design will be priced higher depending on the actual situation product.

Product: Boomerang Studio specialized in wo m e n s we a r, a l s o s e l l s s h o e s a n d accessories in line with the brand style, to provide customers with help on matching the whole look. Boomerang Studio's products cover the four seasons, the brand style is strong with elegant Paris sense, let women at all times freely, show delicate, gentle charm.Shaping is modern, energetic and free and easy independent female image. At the same time, Boomerang Studio will use its own media account to provide fashion advice to customers so that they will be more fashionable and confident and get higher brand loyalty .

Distribution : Boomerang Studio products products will be processed in the company-owned factory in China as the company will mainly face to Chinese market. XXX design team will be located in Hangzhou with the huge market for fabric and materials, which is suitable for product design and development As soon as product development is completed, the order will be distributed to the factory. And the quality inspector will process the quality control in the factory. Finally, the logistics department will send the product to the customer directly from the factory. As it is a factory operated by the studio, many processes can be carried out directly in the factory without sending to the headquarters, thus avoiding excessive logistics costs.

- TMALL Boomerang Studio’s main official sales channel is Tmall flagship store, which has a very complete sales system . Tmall e-commerce is one of the most popular marketing methods in China. Different from Taobao store, Tmall flagship store more reflects the brand culture and high-end sense. The advantage of Tmall platform is that it has a large customer group and a variety of promotion channels, such as live platform or shopping promotion festival like “Single day". Studio can use Taobao's live platform to display product design concepts, provide styling suggestions to customers, and convey its unique brand culture. At the same time, advertising can be put on the home page of Tmall to promote awareness.

TMALL Marketing Mix

Marketing Mix Promotion : Boomerang Studio is mainly engaged in online sales, so in terms of marketing strategy, it pays more attention to promotion in online media channels, and tries to connect promotion advertising with purchase channels, so that customers can more quickly and concisely move from the link of interest to the link of purchase action.

-Wetchat: Before the studio is set up, build a popular WeChat public account in the field of fashion to accumulate followers and potential clients for the studio. In the early stage ， the main contents of the early public account are fashion styling opinions, fashion items sharing, and fashion news, attracting fashion-conscious millennials. Once the establishment of the studio, the Wemall store (WeChat’s sales platform) will be established. When the public account publishes articles, it can use its own products for fashion styling. Readers can directly enter the purchase page of the Wemall by clicking the picture. In addition, the account will also become one of the studio's powerful way of promotion.

-Weibo： The studio will use Weibo to help set up the official account. As one of the most important social media for millennials in China, the studio use same ID to publish articles on Weibo and provide information about the WeChat official account to increase the attention. After the studio is established, it can publish street photos and fashion styling photos related to its products on its Weibo account, and provide links to Tmall flagship store and Wemall.

-Instagram ： Although Boomerang Studio will mainly focused on the Chinese market in the early stage, it will still open an Instagrm account and publish product photoshoots wihout overseas purchase links for the time being. In the middle stage of the development of the studio, some advertising promotion will be carried out for the right demographic users to increase the awareness to develop the overseas market.

Main Platforms

Social Media

Marketing Development Strategy BOOMERANG Studio Build a brand community: Before the studio officially opened, set up brand accounts on WeChat and UCG platforms such as Xiaohongshu , and mainly share the content of fashion and lifestyle. Using these media channels to create brand image build brand culture and brand influence. At the same time, by attracting a certain number of followers, they will become primary potential consumers in the early stage of the studio, and through the platform's comment function, we can get in touch with consumer groups and establish the customer brand relationship in the beginning.

Celebrity Charm : In the early and middle stages of the studio's development, it is possible to work with celebrity KOL or fashion blogger to promote brand awareness. First of all, Boomerang Studio will look for fashion bloggers with appropriate styles and certain influences to carry out brand promotion fashion followers as the object. Secondly, in the case of appropriate budget and style, carry out celebrity endorse, using star exposure and large fan base for brand promotion. Thirdly, cooperate with KOL to improve brand awareness. Through the above channels to further expand the target market.

Collaboration & Offline Store Experience: In the middle and later stage of brand development, Boomerang Studio will collaborate with brands, Multi-brand boutique or well-known IP, etc. to help in building brand culture and improve brand value and awareness.

In addition Boomerang Studio will open offline experience store in firsttier cities, so as to have in-depth contact with consumers and increase the information exchange with customers to improve brand loyalty.

Pre-order Mode: From the initial stage of establishment of Boomerang Studio, the brand will be committed to realizing and improving the Pre-order Mode. Most of the products of Boomerang Studio will use the Pre-order Mode, that is, the customer pays first and then produces, thus reducing the risk and cost. The key to the Pre-order Mode is the length of the cycle time from customer payment to production and delivery. Too long cycle time will lead to the loss of customer enthusiasm, too short cycle time means producers and production costs will face challenges. What is gratifying is that Boomerang Studio has its own factory. In terms of production cost and processing cycle time, Boomerang Studio studio has a certain right to control. How to control the cycle times will become the focus during Boomerang Studio's development.

BOOMERANG Studio