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The Laughing Buddha brand presentation The Laughing Buddha brand presentation Presentation Transcript

  •  
  • It’s time to embellish your world.
  • Executive Summary
    • This presentation’s objective is to propose a coherent and integrated business plan in order to open a laterally integrated private retail company, specializing in DIY high fashion accessories such as totes and footwear, to innovation-seeking consumers, with retail outlets in London and Hong Kong, available to the world through the internet.
  • Situation
  • Market analysis: The Tomorrow People: The Career-less Professionals Male and female No specification of gender Regulars at computer stores High users of computers and the internet Read magazines such as MAC Addict, MAC World, MAC User, PC Review , etc  “ Upgrades technology but not clothes” Need practicality, enjoy minimalism  “ Greatest luxury is space” Short on time  “ Constantly on the move” Lifestyle is a priority  “ work… finance lifestyle” Adventurous, technologically aware and adapt themselves easily to environments  “ Ideally, on a mountain top with a lap top” Highly cultivated, international, open-minded and adapt easily  “ Where : Wherever the job takes them” Salary: high  “ work six months then take six months off” Career: business entrepreneurs Salary: medium to high  “ master of own salary” Educated, reading qualities and up-to-date with the news and trends  “ Part of the knowledge elite” Age: 25 – 30 Young adults  “ Late twenties” Analysis From Tomorrow People
  • Market Segmentation Study: Shopping habits and interests Offer innovative, up-to-date with technology products and innovative ways to shop (The Inflatable Store) Search for innovation It provides them 24 hour access to the brand Offer an online alternative to purchase products Travel a lot Customers may not have time to visit store on a regular basis Create customer database and inform customers of new arrivals in store (via e-mail or SMS/MMS according to customer approval) Constantly be in a hurry Consumer more likely to surf the internet than visit shops Create a fast and user0friendly website (providing online purchase of all items available in retail store) Constantly be in a hurry It is the competitors USP Offer exclusivity and quality Buy their fashionable items at Helmut Lang, Susan Ciancolo, YMC, Drooghi, Mandarina Duck, etc The Laughing Buddha can easily make its brand known Wholesale to the key computer stores Frequently visit computer hardware and software stores, seeking for new and up-to-date products Because… So The Laughing Buddha should… They are likely to…
  • Market segmentation: Niche marketing: The Career-less Professionals
    • VALS Profile:
    • Inner-directed: I-Am-Me and Experiential
    • Social Value Group: Self-explorers and experimentalists
    • Innovators
    • Seeking to use product on a daily basis.
    • Benefits sought:
    • Practicality
    • Individualism
    • Space
    • Loyal customers, to website more than retail outlet
    International ACORN Group: Prosperous professionals Educated Urbanites Aspiring singles ACORN Types: 13, 16 – 19 Characteristics: •Gender: Male and female •Age group: 20 to 45 •Geographic segmentation: London, Frankfurt, Hong Kong, Tokyo, New York •Live in short-term rented flats May share flat with other people •Average income: high •Type of work: Consultant and CEO of own company. Possibly in finance or design. •Internet usage: High •Mobile Phone usage: High •Media: Financial Times Computer and technological magazines (such as MAC World Psychographic segmentation* Source: http://sric-bi.com/VALS/types.shtml Behavioral Segmentation Geographic segmentation Demographic Segmentation Source: ACORN User Guide
  • Market segmentation: Summary: Factors affecting consumer buying decisions
    • Social/Cultural factors
    • Individualism
    • International lifestyle
    • Spiritual
    • Personal factors
    • Young
    • Active
    • High income
    • Up-to-date
    • Educated
    • Psychological
    • Looks for innovation
    • Seeks originality
    • Does not follow commercial trends
    • Marketing related
    • High quality products
    • High quality service
    • Innovative communications
    • Up-to-date with trends
  • Competitors: Competing brands and descriptions Fashionable bags, accessories, home furnishings Similar Asian heritage concept Lifestyle brand G.O.D (Goods Of Desire) Examples: Wearable sleeping bag, human floating hamster ball, etc Similar products and concepts Online pureplayers ptoviding all types of innovative gadgets Gadget online pureplayers Bags, suitcases and accessories Similar concept and product concept Fashionable bag retailing brand Mandarina Duck Inflatable bags Similar product concept Inflatable bag manufacturer Modern Plastic Manufacturing Co Ltd Portable solar packs Similar product concept Pioneer and camping brand Modern Outpost ‘ Moon Boots’ Similar product design Fashionable, luxury (ski) brands Moon Boots, Dior and Chanel Microwavable socks Product Medical supplier Bruce Medical.com Similar concept Similar concept Similar concept Similar concept Similar concept Why a competitor? Fashion, gadgets, home accessories Funky and quirky high street fashion retailer Urban Outfitters From technology to fashion – all items can be found at value prices Substantial market share holder in the technology retail industry ARGOS Latest technology and accessories Substantial market share holder in the technology retail industry PC World Software, hardware, computers, MP3, mobile phones and accessories. Only/mainly compatible with Mac computers. The ultimate leader of the innovative computer industry MAC Store Latest software, hardware, computers, TV, speakers, etc and accessories Creative, up-to-date with technology Selfridges (lower ground floor) Products Description Competitor
  • Brand Process Development
  • Demand and Supply: Marketing Customer Wants/Needs Company The Laughing Buddha Practical items, easy to travel with Products with a personality Exclusive products Quality products Innovative products Personalised products Easily accessible Inflatable items, designed for travel Products with a high design quality Exclusive products Practical products (solar plated) Quality from Japan Innovative product features and designs Choice of designs to choose from Available online and in major cities of the world.
  • Proposition: An Appropriate Marketing mix Product features : All products will offer one or more special features (inflatable, rechargeable, microwaveable, etc). Asian simplicity in fabrics, European designs: an eclectic mix of Asian and Western culture. A perfect melting pot of different worlds, all captured in the design of one product. The Laughing Buddha will deliver only the most practical and fashionable products for people who appreciate technology and consider it a world of its own. Pricing Strategy : The pricing will take into account the R&D time and labor put into each product. The pricing will also reflect the quality of all products and hence be categorized as medium to high. Distribution Channel : Worldwide delivery available to all online customers, from Hong Kong. All stores will also be supplied from this starting point (Hong Kong will be home to the head office, due to lower taxes, lower office rent and close proximity to Japan, the main production country).
  • The Laughing Buddha: Corporate Identity: logo
  • The Laughing Buddha: Corporate Identity
    • Company slogan:
    • It’s time to embellish your World
    • Analysis of slogan:
    • Create personal relationship (“ your World”)
    • Refer to individuality of each and every consumer
    • Reference to time: refer to the present and the future
    • “ embellish”: refers to fashion ability of brand
    Company mission statement: At The Laughing Buddha, we create new, practical and fashionable items our customers can use everyday, everywhere. Our secret recipe contains technology , A measure of humor , And a mixture of laughter . We want your smile to last forever.
    • The Laughing Buddha:
    • Unique Selling Point
        • Inflatable
        • Practical
        • Quality
        • Exclusivity
        • Fashionable
    • Emotional Selling Point
    • The Laughing Buddha’s objective is to create an emotional attachment between the customer to the brand. In order to do so, The Laughing Buddha will:
        • Keep customers updated of new products through customer database (information collected at point of sales)
        • Create a unique retail environment
        • Hire polite and professional sales people and assure great customer service at all retail outlets
        • Co-operate with underground artists (such as Banksy, Miss Van) to design future bags
        • Co-operate with local artists through online competitions
  • Stock organisation: The supply chain Wholesale and retail Head Office Hong Kong European Office London Communicate Main Factory Japan Secondary Factory Korea Tertiary Factory Taiwan Sends orders to International Storage facilities Hong Kong Flagship 1 Hong Konga Retail 2 London Retail 3 Inflatable store Wholesale Wholesale Wholesale Wholesale Delivers to Retails to Retails to Customers Retails to (through website) Also provide raw materials to
  • The Laughing Buddha: Positioning Strategy
    • In order to differentiate itself from competitors in the market, The Laughing Buddha will offer:
    • Distinctive features and benefits from products
    • Pre-emptive products
    • Superior quality and design
    • Repairable products (at The Laughing Buddha)
    • Coherent refund policy
    • Superior decoration of outlets
    • Superior and unique brand communication strategy
  • ARGOS PC World The Laughing Buddha Mandarina Duck Mac Store Less expensive Expensive Fun Practical Fashionable and practical Positioning statement: Perception map: value positioning Gadgets online pureplayers Modern Plastic Manufacturing Co Ltd MOON Boots, Dior, Chanel Urban Outfitters Modern Outpost G.O.D
  • Product range: Laptop totes Portable battery charger (for laptops and mobile phones) Footwear Accessories/complementary goods (giant cards, plugs, microwavable socks and pumps) Space today has become a luxury we all strive to afford: companies such as mattress companies have come up with a solution for us to save space with guest mattresses: instead of having to keep a spare one, inflate one in the comfort of your own home. H owever, there is a lack of products that concentrate on both designs and high-tech. Offering innovative designs to consumers (retail) alongside Apple and Sony (wholesale) is therefore one of The Laughing Buddha’s retail objectives. Operating an innovative, exclusive brand is also an aim of The Laughing Buddha. Products will therefore rarely be on sale due to the small production amount. Marketing related promotions will be allowed on accessories only (giving out the giant card deck at each purchase, for example, as direct promotion to the public). An even pricing strategy will also be applied to all products.
  • The Air Bag is a fully functional, fully sized, weightless laptop tote that is sold in a box no bigger than a carton of milk. When inflated, the Air Bag can be used everyday and offers: - extra protection for laptops (from double layered, thick ‘air mattress’ or inflated bag lining) - easy storage - practicality (from belt strap and optional cork-screw karabiner hooks) The Laughing Buddha will provide different options for the customer to personalise the bag (such as shape, fabric of cover, types of hooks and straps) if required. Production cost allowance: £ 15.00 Aimed mark up minimum: 830% Suggested retail price: £ 125.00 Product organisation: Primary line: The Air Bag
  • Primary line: The Air Bag: examples of different designs Source: www.squidoo.com/ laptop bag
  • Product organisation: Secondary line: The POWER SUPPLIER Solar power is one of the most efficient and environmentally friendly ways to produce energy. In the Power Supplier, the Laughing Buddha has created a durable range of attractive bags that can charge electronic equipment on the move. The range comes with a variety of suitable adaptors and cables. Production cost allowance: £ 65.00 Aimed mark up minimum: 350% Suggested retail price: £ 225.00
  • Secondary line: The Power Supplier
  • Secondary line: The Power Supplier
  • Product organisation: Tertiary line: The GEFUNKEN Boots are generally space consuming, when it comes to packing them for a holiday. However, with The Laughing Buddha’s new inflatable and fashionable boots, everyone will be able to shrink a boot into into a thick sole, and pack it easily into luggage of any size, saving space and allowing you not to compromise the rest of your packing. They are also fully waterproof and great to take to the slopes. Production cost allowance: £15.00 Aimed mark up minimum: 830% Suggested retail price: £125.00 deflate
  • There exist many odd gadgets in this world that are very practical. The Laughing Buddha Extra Line will provide a range of fashionable goods, for both humans and machines. Microwaveable socks Suggested retail price: £15.00 Product organisation: Extra line: Accessories/complementary goods
  • Product overview: Gefunken The Air Bag The Power Supplier Refundable 28 days after purchase in re-sellable state. Exchange for different style/product of same value available if product shows no sign of usage. 1 year guarantee available on company terms. Company terms: Repairs provided by The Laughing Buddha if the breakage is due to malfunction or production fault of product. Refundable 28 days after purchase in re-sellable state. Exchange for different style/product of same value available if product is returned in a re-sellable state. 1 year guarantee available on company terms. Company terms: Electronics are repairable and provided by The Laughing Buddha if the breakage is due to malfunction or production fault of product. Refundable 28 days after purchase in re-sellable state. Exchange for different style/product of same value available if product is returned in a re-sellable state. 1 year guarantee available on company terms. Company terms: Repairs provided by the brand if the breakage is due to malfunction or production fault of product. Company guarantee High High High Usage allowance Pro-grip sole Great for posture Easy storage Waterproof Warm Re-chargeable battery Waterproof Light Environmentally friendly energy on the move Easy storage Fashionable Light Extra protection for computers Benefits Thick, fashionable boots Solar plates on bag Waterproof fabrics Inflatable bag Features To inflate: Inflate bag manually or with pump. To deflate: Unplug button and add pressure to sides of boots (by squeezing manually) To charge bag: Put in direct sunlight To charge electronics: Use provided adapter and plug, attach electronic and allow to charge. To Inflate: Inflate bag manually or with pump. To deflate: Unplug button and add pressure to sides of bag (by squeezing bag or sitting on it) Usage description Exterior: Thick layered boots available in different colours/styles Interior: Water-proof lining and coloured fabric Accessories: Laces Exterior: Available in two styles: Laptop tote Backpack (hiking shape) The bag will have a protective see-through, water-proof exterior lining to protect solar plates Interior: Water-proof lining and coloured fabric Accessories: A total of 3 electronic adapters and plugs ( See page XXXXX for choice ) Exterior: General laptop tote (shape) available in different fabrics/styles. Interior: Fabric lining to protect inflatable plastic Product description The only inflatable boots available in the market Water-proof Extra grip The only bag that will charge all types of electronics Environmentally friendly energy The first inflatable laptop tote in the world Unique Selling Point Korea Japan Japan Origin
  • Product overview: Accessories/Complementary goods Refundable 28 days after purchase in re-sellable state. Exchange for different style/product of same value available if product is returned in a re-sellable state. Non-refundable for hygiene reasons Not available Refundable 28 days after purchase in re-sellable state. Exchange for different style/product of same value available if product is returned in a re-sellable state. Company guarantee High High Refundable 28 days after purchase in re-sellable state. Exchange for different style/product of same value available if product is returned in an unopened box. High Usage allowance Easy usage with The Power Supplier Bags Keep feet warm for 20 minutes Easy microwave method Cards can be used as promotion and be given out during designated time periods. Easy and practical way to pump air into any inflatable object Easy storage Benefits Fashionable plugs in different colours Warming socks High Foot pump Features Use with Power Supplier Bag from The Laughing Buddha only Place socks in microwave for 30 seconds and place on feet. Warmth duration: 20 minutes Giant cards Use to inflate the Air Bag or Gefunken Usage description Choice of black, white, green, pink or orange plugs and adapters
    • Thick socks appearance
    • Content (from exterior to interior):
    • Organic cotton layer available in different colours/styles
    • Thin layer of heating miniature flax seeds (0.2cm max)
    • Organic white cotton layer (no dye)
    Exterior: General pack of cards ( See picture below ) Interior: The Laughing Buddha product catalogue images Foot pumps Colours available Product description Necessary for The Power Supplier bags Fashionable Unique Unique Big Optional for The Laughing Buddha Gefunken and Air Bag Unique Selling Point Taiwan Japan Taiwan Japan Origin The Power Supplier adapters and plugs Microwaveable socks (one pair) Giant Card Deck Pump Product
    • Product overview:
    • Packaging and hang tags
    • All packaging and hang tags will be made of white materials with green and pink details. They will also sport The Laughing Buddha logo.
    • Characteristics of carrier bags:
    • White recycled hard back plastic bags with The Laughing Buddha logo (small and large size available)
    • Shocking pink hemp handle to compliment The Laughing Buddha logo
    • Re-usable function
    • Characteristic of hang tags:
    • Hang tag 1: inflated ‘mini’ The Laughing Buddha logo (maximum height 3.5cm) attached to key ring
    • Hang tag 2: White recycled plastic card with refund policy on one side and The Laughing Buddha slogan or mission statement
    • Hang tag 3: White recycled plastic card with usage on one side and price (relative to country of sales) on other
  • An Augmented product: Core product and practicality benefits Quality Design Exclusivity Store and product packaging Corporate image Service and in-store experience Return Policy Location of retail outlets Guerilla advertising: The Inflatable Store
  • Communication
  • Where will it be sold? Retail strategy: Online and Offline Objectives: Reaching the customer In order to reach customers successfully, The Laughing Buddha will operate two independent retail outlets: one in London, Notting Hill. The other, in Hong Kong, Central. These two areas, although very far apart, target The Laughing Buddha market and are in high-footfall locations with adequate transport systems. These areas also attract locals as well as tourtists, allowing The Laughing Buddha to attract more customers by generating Word-of-Mouth in order to expand its market. Furthermore, this will allow The Laughing Buddha to self-advertise its website: www.laughingbuddha.com . These retail points aim at portraying the innovative, original personality of the brand and to communicate the corporate identity successfully by differentiating the brand from all competitors. In order to attract customers into the store, The Laughing Buddha will plan an immaculate store layout as well as a captivating window display. The website will also be carefully designed and rigorously updated and reviewed.
  • Store organisation: Display methods In-store product presentation Mixed retail display method: - Frontal pegging for interior display (for the Air Bag Laptop Totes and Power Supplier) - Stacking of accessories and Gefunken boots - Eye level is Buy level: everything to be at eye level except decoration - Homogenous density of products (low if possible) - EPOS checkout system - Where possible, in-store furniture will be inflatable, in keeping with The Laughing Buddha products (retail and wholesale furniture will be provided).
  • Buddha fountain In-store design Inspiration image for interior decoration: The ‘Buddha Fountain’ From www.yahoo.com Inspiration:Mandarina Duck www.mandarinaduck.com/company.pdf
  • Store organisation: Display methods Exterior presentation: the window display Ideally, The Laughing Buddha retail store will be on a ground floor for easier access. The window display will therefore be closed back as to provide a greater experience inside the store. The display will also play a crucial role when it comes to attracting customers into the store for further enquiry of the product.
  • Store organisation: Display methods Exterior presentation: the window display The window display should provide a spiritual feeling. The aim is to make the customer feel like he/she is walking into a sanctuary . In order to create this mood, only natural products and fabrics must be used in the display. Think Indiana Jones temples with a touch of Apple Macs.
  • Store organisation: Display methods Brand Expressive Retail Strategy The Laughing Buddha will express its corporate identity through not only an elaborate window display, but also through: Furniture: Neon whites and colours and white carpet floor Decoration: fountain Catalogue: giant card deck
  • Internet store organisation: Display methods Expressing the corporate identity The Laughing Buddha’s objective is to expand internationally through its online shopping alternative. This method will allow people from around the world to purchase Laughing Buddha products. To raise awareness of the website, stores will self-advertise and an advertising campaign will be launched, internationally (see following slides).
  • Internet store organisation: Display methods Online store mockup www.laughingbuddha.com* * The website has been verified and is currently available for purchase
  • Staffing and organisation: The Laughing Buddha Family An international relationship In order to create a perfect and flawless retail atmosphere, a team of experienced and motivated staff is required. This is why The Laughing Buddha’s objective is to hire the best staff on the market. The brand’s aim is to create a long-lasting team, (hence keeping staff happy is a must) and to start an international ‘family’. Hires will be made with a long-term perspective in mind. The staff will also be allocated more freedom than any other company. The Laughing Buddha’s mission statement also applies to the staff. Our aim is for them to Laugh like we want our customers to Laugh.
  • Company organisation: Staff organisation *Training is to be provided for each and every staff at the beginning of each season to reinforce trust in company through professionalism and aura of luxury.
    • Full-time staff in retail stores*:
    • Training is to be provided for each and every staff at the beginning of each season to reinforce trust in company through professionalism and aura of luxury.
    • 1 store supervisor and manager (minimum 3 years experience)
    • 2 sales assistants
    • 1 security guard
    • Cleaning company (needed daily for carpet)
    • All staff will be given a uniform (2 sets of pants, 4 sets of shirts) except for security guards and cleaners.
    • Full-time staff in design office (London)
    • 2 Product designers
    • 1 Technician and product designer
    • 1 Marketing Director
    • 1 Sales executive
    • 1 office manager
    • Full-time staff in head office (Hong Kong): Location of main office is due to lower business taxes in Hong Kong and proximity to manufacturing countries (such as Japan, Korea and Taiwan). Furthermore, import/export regulations tend to vary less between Asian-Asian countries (e.g Bra Wars between Europe and China).
    • 2 Product designers
    • 4 Technicians and product designers
    • 1 Office manager
    • 1 Sales executive
    • 1 Office secretary
    • 1 Accountant
    • CEO office
  • Retail staff: Expressing the brand Uniforms The Laughing Buddha prides itself on being a quirky, innovative brand: the staff will therefore portray this personality through their attitudes (being themselves but professionally) and their uniforms. Two pairs of pants will be provided to each staff (and will change every season) as well as four tops. The pants are displayed on the right (women on top, men beneath - from www.kanabeach.com ).
  • Brand Communication: The Inflatable store Guerilla Advertising Campaign As The Laughing Buddha is a new brand and will target a niche market, the advertising campaign should be as original as the products, inflatable like the products and environmentally friendly like the products. The Inflatable Store will be a guerilla advertising campaign that will travel around the world, attract new customers, receive editorial coverage and clearly express The Laughing Buddha’s corporate identity.
  • Advertising: The Inflatable store Inflatable store mockups Theme 1: walk into Buddha Belly Theme 2: walk into Laughing mouth OR
    • Advertising:
    • The Inflatable store Objectives
    • Create international brand awareness in 12 months
    • Increase brand awareness in London and Hong Kong by 60% in 12 months
    • Increase retail sales by 55% in 6 months
    • Increase wholesale sales by 65% in 3 months
    • Establish clear corporate identity internationally
    • Receive over £5 million in editorial coverage internationally * in 12 months
    • Create award winning campaign
    • * Hiring a PR agency is highly recommended
    • Advertising:
    • The Inflatable store Measuring the effects
    • Measurements will therefore be made through:
    • Thorough sales analysis
    • Fluctuations of website viewings during periods of advertising vs. periods of non-advertising*
    • Sales in store
    • Primary research
    • *The sales online and offline will be monitored closely during the ‘inflated periods’ of The Inflatable Store. This will allow The Laughing Buddha to measure the effects of the campaign as well as justify the expenses.
    • The Inflatable Store will also be over supplied for the first month, allowing the head office to estimate sales and stock allowance for the other destinations.
  • Advertising: The Inflatable store Where will it inflate? Central Park, New York
  • Advertising: The Inflatable store Where will it inflate? Geneva Munich Los Angeles * All areas chosen have been previously used for concerts or outdoor events. They offer space and are all placed in areas of high market footfall as well as tourists. Miami Washington DC, Washington, USA Central Park, New York, USA* Harajuku Station, Tokyo* Bangkok Victoria Park, Causeway Bay, Hong Kong* Kuala Lumpur Singapore Moscow St Petersburg Dubai Madrid Champs de Mars, Eiffel Tower, Paris* Amsterdam Hyde Park, London*
  • Timeline: The Laughing Buddha timeline objectives First three years Geographical expansion of The Laughing Buddha Into New York, Dubai and Miami Advertising campaign Launch 1 Opening of all retail outlets
    • Research and Development
    • Hiring of staff
    • Production of products
    • Production of Inflatable Store
    • Buying and construction of retail outlets
    2010 2011 2009 2008
  • Timeline: The Laughing Buddha timeline objectives A Long-term perspective Advertising campaign Launch 2 Opening of more retail outlets
    • Expansion
    • Research and Development
    • Research into product expansion (ie different power bags, self-inflatable laptop totes, etc) and elegant line
    • Co=operate with underground artists for new designs (Banksy, Maya Deren, Che Jen, Miss Van)
    • Co-operate with local amateur artists through design competitions
    • Research into further geographical expansion
    2012 2013 2011 2010
  • Generating profits
  • The Laughing Buddha will generate profits because: Of the originality and features of products Of it’s original communications plan And of the attention to detail, satisfying our market’s needs.
  •