Due to recent economic setbacks, Americans have decreased spending on products and services that were considered hedonic to them, they want to invested in things now that matter the most. With this being said, Americans are spending a lot of time in their home, and are going out a lot less so they want their residences to feel like a home.
SOCIO-CULTURAL ISSUES<br /><ul><li>Viewers of the show display a lifestyle of freedom and independence with an urban edge.
People believe in her character and…” I find her comforting.” -says Leslie Van Buskirk, deputy editor of TV Guide
“Drag equals ratings.” -Randy Barbato, co-president of World of Wonder
Viewers are not only watching for tips but for entertainment value of something “different.”
With Maxwell’s Fashion background (FIT), viewers appreciate the nostalgic fashion choices of the host.
Once removed from the E network, less than 30% or regular viewers followed The Brini Maxwell show on podcast. </li></li></ul><li>Industry Trend<br />Inspiration from and Aspiration for Retro in Urban<br />A viewer could find self-definition, values through which to comprehend his or her place in the world<br />“There is a yearning to return to a time when we felt safe,” “People are looking inward. They want to cocoon and create a nice space for themselves. I think that has to do with the current world situation. People are taking more of an interest in hearth and home and hoping for better times ahead.”<br />A constant fashion/ home fashion trend inspired from 60s to 80s.<br />
Industry Trend<br />Increasing number of retail business implementing Lifestyle Retailing to attract niche market<br />Offering these customers a broad array of offerings, in an almost infinite possible number of categories (home fashion, cooking, and fashion)<br />The TV show is unique, distinctive and conceptual (the theme is showing gracious; it is how you treat other people and how you care about your environment)<br />
Industry Trend<br />Growing urban young population <br />Young professionals who need to gain useful information as quickly as possible<br />Young professionals who want to feel comfort and at home, and escape from urban lifestyle<br />“I know that it’s a man playing a woman, but I believe in the character, and she is somehow strangely comforting,” <br />“I would like her to be my neighbor, so I could knock on her door and ask to borrow a bundt pan.”<br />
Consumer Group Reports<br /><ul><li> The New Beginnings market are twenty something singles and couples just starting out on their career paths-or starting over after recent divorces or company transfers.
reasonably priced housing, abundant entry-level jobs and a thriving singles scene-all have given rise to the Boomtown Singles segment in fast-growing satellite cities.
They invest in having an avid social night life
Showing a major interest in historic vintage attire in their leisure time.</li></ul> - Rockabilly's, Lolita's, Vintage 50’s – 70’s subcultures<br /><ul><li>Second highest in consumer debt due to student loans
Discretionary income is low due to paying of student loans</li></li></ul><li>Consumer Group Reports<br /><ul><li> The baby boomer market is an assortment of midscale, middle aged singles and couples in various places. Typically members of the Baby Boomer generation hold respectable jobs, own older homes and condos, and pursuing their ideals of the American Dream.
The Baby Boomer generation They are also more liberal, which makes them more accepting to LGBT community
Higher disposable income than the young and urban and more stable career wise.
Along with the young and urban market, they are price conscious.
The age wave theory suggests an economic slowdown when the boomers start retiring during 2007–2009.</li></li></ul><li>Target Market<br /><ul><li>The Ms. Maxwell brand is targeted to Generation Y and have appealed to the nostalgic baby boomer generation as well.
This group is composed of people just starting out into the working world after college and have already become career stable.
The majority of the target market is culturally liberal with many respecting same-sex marriage rights to the LGBT community among other politically liberal stances.
Miss Maxwell attracts consumers who invest in their home, and find decorating and cooking enjoyable.
Price conscious consumers</li></li></ul><li>Demographic Profile<br />Gender: Male and female<br />Race: Varies<br />Age: 20- 60’s<br />Income: 10,000- 60,000+<br />Educational Attainment: College degree<br />Home ownership: Renting, Home Owners<br />Employment status: First time career, part or full time job, and even close or already retired<br />
Psychographic Profile<br />Values In their the new beginners and baby boomers mentally, affordability is more important than quality right now. The younger consumer values low price due to recent college mentality, and the older generation values price due to the economic recession. They take pride in their higher education, and any cost saving features. <br />Attitude/ Opinion They are open minded and very outgoing. They are well educated becoming more mature with age. They are open to what is going on in the world and are open to new ideas and social change. They young and urban target market are heavily influenced by pop culture and the baby boomers are influenced by past experiences. They learn from historic moments they encountered in their life so they will not make the same mistake. <br />Lifestyle/ Interest These consumers are the high-resource group of those who are motivated by self-expression.. They have a lot of energy, which they pour to physical exercise and social activities. They are avid consumers, spending heavily on clothing, fast-foods, music, and other youthful favorites, with particular emphasis on new products and services. They spend a substantial amount of time at home whether it being a social setting or just in enjoying solidarity in their home. <br />
Analyzing Competitors <br />Martha Stewart<br />Industry leader in crafting, cooking, decoration, pet care and entertaining tips.<br /><ul><li>Blogs
Books</li></ul>Crafting and cooking tips <br /><ul><li>mycupcakejourney.blogspot.com</li></li></ul><li>Brand Name Decision<br />Miss Maxwell<br />In order to maintain our Product Category and Target Market while keeping & building on to our already existing consumer base, we are keeping the Brini Maxwell brand but slightly updating it to Miss Maxwell. We feel that this refreshes the brand image and maintains a modern/hip appeal to our younger target while keeping in touch with the nostalgic era that our brand encompasses.<br />The “Miss” salutation was used in the 60’s and 70’s as a respectful way to address a lady. Today it is used in the same way but has also gained some alternate usage in hip-hop culture and urban slang. We feel that this helps our target market relate to our brand.<br />
Brand Hierarchy <br />Core Benefit: Iconic branded symbol (Brini Maxwell), Entertainment, Lifestyle tips<br />Basic Product: TV Show demonstrates every area of the home<br />Expected Product: TV show on Internet, A collection of retro-styled home fashion items<br />Augmented Product: New podcast or TV show of 5-10 min time slot on Internet<br />Potential Product: Maxwell’s report about restaurant and home fashion product on every media<br />
Brand Position<br />Important:Young Urbanites has descended upon cities to make their mark in the world and they need the guidance of someone like Miss Maxwell to Cook, Decorate, Furnish, all on a budget<br />Distinctive:Miss Maxwell delivers all the benefits of a Martha Stewart but packaged as entertainment rather than domestic service<br />Pre-Emptive:As a transgendered entertainment personality, Miss Maxwell has guaranteed her position for a while<br />Affordable:From Free to Nominal<br />Profitable:With the diversification between the Young Urbanite and Nostalgic Baby Boomer, the product line caters to two large groups of consumers and positions itself for steady sales and magazine, tv show income.<br />
Differentiation Tools<br />Product<br />Entertainment show informing viewers of home tips and tools<br />Service<br />The Miss Maxwell show offers lifestyle tips through podcast, TV appearances, and magazines on how to make your home a point of destination with Maxwell’s own utensils and tools<br />Channel<br />Viewers are aware of the lifestyle that Brini Maxwell lives and is well respected. Viewers watch for not only entertainment but inspiration and by using promotional advertising for her show, viewers will continue to grow<br />Image<br />The Miss Maxwell show’s set is very nostalgic and from another era. We plan to continue this image and respect its fashion and reflective image<br />
Evaluate Brand Positioning<br />Distinctive <br /> The Miss Maxwell’s brand embodies distinction. She is the first and only transgender woman in the home and décor market. <br /> Miss Maxwell provides tips, information, and helpful resources to both the younger and older consumer because she deals with topics that are relevant to their age bracket. Prices are reasonable because both older and younger consumers are price conscious. <br /> For future market positioning, we hope to incorporate the globalized trend in our company known as, cause branding. We will sponsor various organizations and charities that will bring awareness to an assortment of issues arising in the community. Miss Maxwell is a company that a give back to the community.<br />Important<br /> Our consumers want to invest in their homes, so being able to decorate and receive tips and advice at an affordable price is very important to them. <br />
Evaluate Brand Positioning<br />Affordability: The customer’s ability to download podcasts for free and watch streaming videos on the internet.<br />Profitability: The development of the private label of merchandise. <br />Preemptive: Creating a new category in the mind of the consumer by putting a unique twist on lifestyle and entertainment tip delivery. <br />
Consumer-Based Brand Equity<br />Relationship:<br />Miss Maxwell will establish a relationship with our urban young professional consumers by offering useful information as quickly as possible and giving a feeling of comfort and at home to escape from urban lifestyle.<br />Meaning:<br />Miss Maxwell brings awareness to our consumer about that Miss Maxwell delivers all the benefits of a Martha Stewart but packaged as entertainment on every media rather than domestic service.<br />Response:<br />Miss Maxwell bring awareness to our consumer by not only the unique entertainment but the inspiration from retro. Miss Maxwell’s retro/pop image and multi media attribute will set it apart from the competitors.<br />Identify:<br />Miss Maxwell is an iconic branded symbol which offer entertainment shows and lifestyle tips to the consumer <br />
Establishing Brand Equity<br />The Law of the Interactivity- each communication medium serves a purpose <br />The Law of the Name- The brand is nothing more than a name<br />The Law of Consistency- a brand cannot get into the consumers mind unless it stands for something <br />The Law of Publicity- endless newspaper, magazine, radio, TV interviews, and podcast will create the brand, Miss Maxwell. <br />The Law of Shape-All shapes/logos are not created equal<br />
Increasing Sales<br />Exterior<br />Full scale media campaign using existing promotion through podcasts, TV show, cooking demo, book signings, website, and YouTube channel.<br /> - This will provide increased exposure and increase the frequency of our promotional reach.<br />Interior<br />Using feedback though the “comments & suggestions” on the Miss Maxwell website we can better understand the wants and needs of our customers and better create products to satisfy them.<br />Using product reviews on our home décor goods and apparel to make any necessary changes to our existing product line.<br />Implement a CRM system to track our consumers better and monitor buying patterns so we can keep stock on seasonal favorites.<br />
Increasing Brand Knowledge<br />The listener ratings on our iTunes podcasts and our viewership on our YouTube Channel increases exposure of the Miss Maxwell brand to a broad audience who relies on the communities “top picks” when deciding on what to listen to or watch. This directly influences the amount of times a consumer will see our brand.<br />Miss Maxwell will have a schedule of public appearances at department stores that carry her line throughout the year when each seasons merchandise is released.<br />Miss Maxwell will continue to participate in the Bid 2 Beat Aids auction on eBay. You can bid on a personalized recorded answering machine message and a sweater worn in an episode of the show along with a signed screen grab of Brini wearing the sweater. The proceeds go to LIFEbeat, the music industry's aids charity. She will also continue to support the Toys for Tots program.<br /> -Both of these charitable causes help bring hope to the community while showing that our brand cares about people in all ages and walks of life. This is an important facet of the Miss Maxwell’s guide to “Gracious Living” brand.<br />