Professor Wertalik Team Members: Allison Walton Catherine Pfab - - PowerPoint PPT Presentation

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Professor Wertalik Team Members: Allison Walton Catherine Pfab - - PowerPoint PPT Presentation

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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

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Professor Wertalik Team Members: Allison Walton Catherine Pfab Kavish Hemrajani Lauren Bostic

Tuesday, December 1, 2009

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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

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3

Once upon a

  • cking tim...

Tuesday, December 1, 2009

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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

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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.

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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

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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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Tuesday, December 1, 2009

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“ In fficult timet

FASHION

always

OUTRAGEOUS!”

Tuesday, December 1, 2009

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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)

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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...”

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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

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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

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SWOT Analysis

STRENGTHS:

  • Strong brand reputation
  • Crazy and unique style to go along with shocking times
  • The luxury part of fashion still have fairly good financial

security due to the fact that the upper class is relatively unaffected by such economical variations

WEAKNESSES:

  • The fact that it is luxury and expensive

narrows our market

  • Introducing what was primarily a European line

into the American market

  • Overcoming the reasons that lead to past failure

OPPORTUNITIES:

  • Women influence over 80% of consumer purchases
  • Growing target market (8 million households make over

$150,000, and this is 4x more than a decade ago)

  • Women’s Apparel is dominant sector of department

store sales (not including accessories and cosmetics extensions)

  • Growing trend in vintage style
  • Fashion always repeats itself

THREATS:

  • High start-up costs
  • Cut-throat industry
  • Tons of competition with a loyal consumer following
  • Economy

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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
  • ccurring 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

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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

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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.

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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

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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

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Trade Promotions

  • Objectives
  • Create a buzz and presence in the fashion industry. To get
  • ur 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.

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Campaign Flowchart 2010

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Campaign Flowchart 2011

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Campaign Flowchart 2012

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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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Budget Summary

Magazine Print Ads 2,000,000 Online Advertisements 1,000,000 Television Commercials (including awards shows) 5,500,000 Sex & the City Movie 3,000,000 Celebrity Give-aways 500,000 Victoria’s Secret Fashion Show Commercial 750,000 Susan G. Komen Sponsorship 300,000 Billboard Advertising 150,000 Times Square Billboard Ad 350,000 Fashion Trade Shows 500,000 Trunk Shows 5,000 TOTAL 14,055,000

Tuesday, December 1, 2009

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Measurement & Evaluation

  • Initially we will keep specific traffic numbers for our blog,

website, and other social networking sites we will have.

  • Schiaparelli Experience Interns can provide feedback and market

research

  • Revenue, Return on Investment, Market Share
  • Sales, Consumer Blogs, Website polls
  • Send brand reps to department stores to check up on the

product presentation and get feedback from the sales associates.

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“She slapped Paris. She smacked it. She tortured it. She bewitched it. And it fell madly in love with her.”

Yves Saint-Laurent

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Tuesday, December 1, 2009