Professor Wertalik Team Members: Allison Walton Catherine Pfab Kavish Hemrajani Lauren Bostic Tuesday, December 1, 2009
Agenda Background Review of Existing Past Programs Industry Segments Buyer Analysis Industry Background Executive Summary Brand Review Competitive Review SWOT Analysis Timeline Marketing Goals Positioning the Brand Advertising Objectives and Strategies Blog Print Ads and Commercial Trade Promotions Campaign Flowcharts Additional Recommendations Budget Summary Measurement and Evaluation Conclusion Tuesday, December 1, 2009
Once upon a � ocking tim � ... 3 Tuesday, December 1, 2009
Background • Elsa Schiaparelli • One of the greatest designers of her time • A personality as colourful and outrageous as her clothing line • Inventor of many fashion “firsts” • Mad prints, buttons and visible zippers, wrap-around dresses, “shocking pink”, and the general boutique look • The lobster dress, skeleton dress, and shoe hat • Rival to Coco Chanel, who called her “ That Italian designer” Tuesday, December 1, 2009
Review of Existing Past Programs • Tried to saturate the American market but failed in both America and Paris because she was to unable adapt to newly imposed economical and fashion-related trends after WWII • Schiaparelli still has a presence because the industry still buzzes about her designs and creativity, so there is obviously a place for the Schiaparelli brand and room for growth in the industry • To avoid past failure we must be prepared to quickly adapt to whatever industry circumstances may arise. Tuesday, December 1, 2009
Industry Segments • Haute couture - smallest and most exclusive; pieces range from $25,000 to millions • Luxury - exclusive; slightly bigger than haute couture; insulated to economic fluctuations (Schiaparelli) • Affordable luxury - allows access to higher-end brands to lower income customers; greatly affected by economy • Mainstream - lower price and lower quality; big market; appeals to the masses • Discount - for low income consumers Tuesday, December 1, 2009
Buyer Analysis • User Profile: • Demographic: women ages 18-45, predominantly Caucasian • Geographic: primary metropolitan areas in the U.S.; high-end department stores; online store • Psychographic: Upper-middle and Upper class; large discretionary income, trendy • Behavioristic: Fashionistas, shopaholics, “it” girls Tuesday, December 1, 2009
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“ In �ffi cult tim et FASHION � always OUTRAGEOUS! ” 8 Tuesday, December 1, 2009
Industry Background • Growth: • Seems to be an always-growing market, because the department stores that we are focusing on have not been as strongly affected by the economic downturn • Current Trends/Developments: • Vintage fashion, individuality, “shopaholic” trend • (Ex: Carrie Bradshaw-esque women) Tuesday, December 1, 2009
Executive Summary • Campaign objectives: To increase awareness of the Schiaparelli brand and, through strategic marketing efforts, to successfully enter and saturate the luxury section of the fashion industry within 3-5 years. • Originally available at high-end department stores, then open up boutiques in major cities if the brand shows promising growth • Campaign theme/slogan: • “Think Shocking Pink” • “Shockingly Schiaparelli” • “Dare to be shocking” • “Once upon a shocking time...” Tuesday, December 1, 2009
Brand Review • Key Benefits: • Strong vintage household name • Highly respected by today’s designers (Ex: Yves Saint- Laurent) • Brand Image • Fashion forward with a vintage twist • Fashionable but functional--from the runway to the shelves Tuesday, December 1, 2009
Competitive Review • Direct and Indirect Competitors • Direct: Coco Chanel, Marc Jacobs, Michael Kors, Yves Saint Laurent, Betsy Johnson, Stella McCartney, Louis Vuitton, Gucci, Christian Dior, Cole Haan, Prada • Indirect: Marc by Marc Jacobs, Michael by Michael Kors, Tory Burch • Key Competitors • Marc Jacobs, Christian Dior, Coco Chanel • Market Shares, Sales, Growth • Women’s Apparel accounts for over 1/3 of purchases from department stores • Overall Assessment: cut-throat industry that can be hard to saturate due to high loyalty to brands that are already well-established Tuesday, December 1, 2009
SWOT Analysis WEAKNESSES: STRENGTHS: - The fact that it is luxury and expensive - Strong brand reputation narrows our market - Crazy and unique style to go along with shocking times - Introducing what was primarily a European line - The luxury part of fashion still have fairly good financial into the American market security due to the fact that the upper class is relatively - Overcoming the reasons that lead to past failure unaffected by such economical variations OPPORTUNITIES: THREATS: - Women influence over 80% of consumer purchases - Growing target market (8 million households make over - High start-up costs $150,000, and this is 4x more than a decade ago) - Cut-throat industry - Women’s Apparel is dominant sector of department - Tons of competition with a loyal consumer following store sales (not including accessories and - Economy cosmetics extensions) - Growing trend in vintage style - Fashion always repeats itself Tuesday, December 1, 2009
Timeline • We would like to see a measurable impact in the luxury fashion industry relatively soon upon Schiaparelli’s return. • Phase 1: Create buzz through the website, magazine features and interviews; Incorporate Schiaparelli’s birthday as the initial announcement of the launch and “rebirth” of the brand in Fall of 2011. • Phase 11: Begin Susan G. Komen sponsorship; send some items from the new line to celebrities for subtle endorsement; product placement in movies and TV shows. • Phase III: Actual launch of the Brand in Spring 2012 Fashion Week (actually occurring in Fall 2011); Billboard advertising in selected cities where the line will be released; try to have product placement on red carpet for awards shows; Print ads in magazines; Internet advertising; Television commercial • Phase IV: The new Schiaparelli line hits the shelves (Early 2012) • Phase V: Adjust marketing techniques to sales volume; additional store openings based on product success and high-demand areas Tuesday, December 1, 2009
Marketing Goals • Sales Volume • Establish a strong market segment and buzz within the first year (sales volume should reflect this) • Market Share • Hope to obtain 3% of market share each year for the first 3 years • Profit • Considering the extremely expensive start-up costs, we do not plan to make profit for at least 3-5 years after launching the brand Tuesday, December 1, 2009
Positioning the Brand • Positioning Strategy • Competitive pricing priced comparatively to other top competitors (Ex: Chanel) • Fashionable but functional clothing • From the runway to the shelves • Luxury clothing items made from high quality materials • Positioning Statement • Schiaparelli is a top-of-the-line brand for fashionable women that enables wearers to become part of a stylish, successful, and elite group of fashionistas. Tuesday, December 1, 2009
Advertising Objectives • To initially serve as a teaser to make people seek out the brand and try to learn more • To increase brand awareness • To try to reposition Schiaparelli in such a competitive industry • Create a demand for the product • Lead to a “pull” by consumers, where they will go to stores and request the Schiaparelli line to be carried Tuesday, December 1, 2009
Advertising Strategy • Have print ads in popular fashion magazines. • Have billboards in city “hot spots” (Ex: Times Square) • Television and online teasers and commercials • Social media to create a buzz • Becoming a sponsor of the Susan G. Komen Foundation • Celebrity endorsements • Integrated marketing and product placement (upcoming Sex & the City movie sequel) • Sidewalk art Tuesday, December 1, 2009
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Trade Promotions • Objectives • Create a buzz and presence in the fashion industry. To get our foot in the door with the fashion conscious women that attend fashion tradeshows. • Rationale • Tradeshows are an economical way to create our brands presence in the fashion world. Though fashion tradeshows are a large initial investment, we expect a high return on this investment through the trust and brand recognition that results. Tuesday, December 1, 2009
Campaign Flowchart 2010 Tuesday, December 1, 2009
Campaign Flowchart 2011 Tuesday, December 1, 2009
Campaign Flowchart 2012 Tuesday, December 1, 2009
Additional Recommendations • If the brand does well, create brand extension (sunglasses and other accessories, jeans line, etc.) • Designing a modern version of the vintage Schiaparelli hat box design to demonstrate the true luxury of the brand Tuesday, December 1, 2009
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