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Wpenn

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This was a small presentation made to William Penn consisting of Marketing ideas to enhance it's positioning as a luxury retail brand

This was a small presentation made to William Penn consisting of Marketing ideas to enhance it's positioning as a luxury retail brand

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  • 1. William PennMarketing Ideas
  • 2. Some Relevant TrendsThe new definition of Luxury and the small luxury goods outlook―These last three down-market years have created a dramatic shift in the definition of whatluxury is. Now luxury means products with higher perceived value and increasedpracticality.The face of luxury is becoming much more subtle, understated and less ostentatious.Branded names are still the strong sellers, but the economy has dictated that it‘s no longerfashionable to make sure everyone knows what brand you carry or wear from meters away,‖says Robert Bergman, president of Bergman Associates, a boutique luxury branding andadvertising company.A lot of luxury brands have also been upping their luxury quotient by introducing limited-edition and bespoke items like bespoke Burberry trench coats or limited edition BottegaVeneta cabat bags.Sustainable Brands and Green consciousness is also a part of the equation though a lotlesser than it was before the recession.Source: http://www.forbes.com/sites/bluecarreon/2011/11/15/how-the-uncertain-economy-is-changing-the-definition-of-luxury/
  • 3. Some Relevant TrendsThe new definition of Luxury and the small luxury goods outlook The Ipsos Mendelsohn Affluent Survey: Luxury in 2012 surveyed 2,050 people in the U.S. who have more than $100,000 in household income. 92%of respondents agreed that ―small indulgences can be just as meaningful as purchasing a high-end luxury product.‖ Ipsos coined these small luxury indulgences ―treats,‖ and found that 73 percent of respondents treat or reward themselves at least once a month. ―We really see luxury, especially smaller, intimate treats, as fueling a person‘s desire and satisfying their psychological feeling of ‗I deserve,‘‖ Mr. Kraus said. ―They don‘t talk about status symbols or brands as badges. ―It is about a much more personal, psychological, self-esteem enhancing idea,‖ he said. Talking about how this is something they deserve is a good choice for marketers. ―It‘s about getting the tone of the messaging right.‖Full article - http://www.luxurydaily.com/the-new-definition-of-luxury-for-2012-ipsos-mendelsohn/
  • 4. Growing the businessClassic ways of growing :
  • 5. Product development More writing instrument brands  Ties & Scarves  Swarovski crystal items More corporate stationery items  Small Luxury electronic goods  Bespoke Organizers  Bespoke laptop bags  Bespoke ipad/iphone cases Some interesting sites : More gifting items http://www.tiffany.com/Shopping/CategoryBrowse.aspx?cid=2 88178&mcat=148207 Small luxury items http://thecarry.com/cases/louis-vuitton-iphone-4-cases/  key fobs http://www.howtospendit.com/#!/themes/luxury-goods  Bag charms  Wine openers http://www.harrods.com/services/in-store  Wine glass markers http://www.aldengrace.com/  Cuff links http://www.weldondesign.com/portfolio.htm  Tie pins
  • 6. Market development New Geographies & more outlets –  Company owned /Franchise ?  Store-in-store - identify more options.  In flight ?  Five star hotels  Book stores  Special temporary kiosks – Self service wall mounted touch screen kiosks at relevant locations during gifting occasions like New year, father‘s day, Christmas etc.  Internet store enhancements  Mobile store app
  • 7. Market Penetration: Brand building driving impulse to Buy Build better brand awareness through  Push internet gifting and sales by adding Events , Contests and PR options like gift deliveries with flowers & personalized cards Tie ups with other Luxury Brands –  Online campaigns to promote Gifting Liquor / Cars / Apparel  Market to NRIs around Diwali & New-  Create a Brand association with an year and to Multinational corporates Art such as poetry or prose: with business ties in India around the year end.  Lost art of writing – Promote fine writing instruments as a classy option  Push corporate gifting for gifting  Mail order catalog to corporates at  Letter/essay/poetry writing beginning of year and during key competitions seasons  Calligraphy workshops & competitions  William Penn literary awards &  Inbound Marketing – competitions  SEM  Blogging  Social media presence – Twitter, Linkedin , Facebook , youtube and more  Mobile marketing
  • 8. Marketing to-do list Market research /customer research to zero in on the appropriate messaging and in-store experience feedback Association with ―Indulgence‖ or ―Taste‖ or ―Giving‖ as the theme as per what research suggests.  Create events around these themes and generate PR and visiblity for the Brand Increase Online Brand visiblity and sales through the following :  SEM  Social media  Blog  Twitter  Youtube  Linkedin  Mobile marketing In-store Branding, enhancements – Service enhancements End-to-end customer experience enhancements – Mystery shopping, store staff training etc. (see next slide) Marketing tie-ups with other Brands that are appropriate for core essence of WP
  • 9. Marketing to-do listCreate the ultimate Luxury Experience across touch Points The figure shows the projected positions of various touch-points based on the Branded Experience Index (BEI) and Customer Experience Index (CEI). The BEI and CEI are generated by aggregating the See the LV example below, for Asia, the LV website and weighted ratings of the emotional feeling at the peak and end experiences (the effective memories) to Call center are slipping into the bad section on the brand and to customers respectively. experience quadrant !! There are three experience regions—Branded, Non- Branded and Un-Branded—each represents different degrees of experience effectiveness. Each touch- point is denoted graphically in circle with its size reflecting the degree of importance. Customers may feel very positively toward your company but not relate to your brand unless you’re delivering your target brand values at the customer experience. This is the foundation of brand loyalty. If a touch-point is located towards more to the left (or to the right) of the diagonal (dotted line), it implies it‘s too brand-centric and not taking enough care of customers and vice versa. The best scenario is to locate along the diagonal. Under the constraint of limited resources facing by all companies, and to ensure the delivery of consistent, positive and branded experiences, the ideal strategy is to locate the more important touch-points (bigger circles) in the Branded Experience Region; the less important ones (smaller circles) at Non-Branded Experience Region; and under no circumstance should you allow any of your touch-points to fall into the Un-Branded Experience Region. By doing this, you are optimizing resource allocation, maximizing customer satisfaction and brand impact, in short, delivering effective experience. Building Customer experiences , a great article : http://www.customerthink.com/article/20_experiences_starbucks
  • 10. What is WP ?What is William Penn‘s Core Brand Essence ? Breath-taking Packaging DesignWhat emotional need does WP satisfy ?WP needs to position itself as a Luxury retail Brand.The world pen store is a good descriptor but does notconvey any emotional connect – Can we move to a An elegantBrand promise with more of an emotional connect ?? Trademark/Logo Is it about ―deserving‖ and self rewarding ?  We need to build communication/ messaging around deserving luxury indulgences Is it about refined taste ? A distinctive  We need to build communication/ messaging around color and look taste- which could be literature / poetry / calligraphy etc. Is it about Giving/Gifting ?  We need to build communication/ messaging around giving. An intriguing story
  • 11. Thank you foryour time…