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E-Marketing Plan FashionPeddler.com
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E-Marketing Plan FashionPeddler.com

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E-marketing Plan FashionPeddler.com

E-marketing Plan FashionPeddler.com

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  • 1. E-marketing Plan FashionPeddler.com
    •  
    • Team 3
    • Mktg 461 Winter 09
    • Vasa Boony
    • Donnych Diaz
    • Stephanie Fixl
    • Tera Phinney
    • Ming-Wei
  • 2. Marketing Audit Overview
    • Company Overview
      • FashionPeddler.com is a company located in Portland, Oregon that is revolutionizing the fashion trade show industry.
      • The company has developed an efficient way for buyers and sellers to come together through an online trade show.
      • The value benefit of FashionPeddler.com for the qualified fashion buyer is access to designer’s product lines and information that enable the buyer to plan entire buying seasons online.
      • FashionPeddler.com’s current marketing mix consists of personal selling during fashion trade shows; e-mail to target fashion industry professionals; PPC and stumbleupon.com.
      • New partnership with ENK, International Trade Events
  • 3. Marketing Audit Overview
    • Industry Overview
      • 20,000 fashion designers U.S.- wide in 2006
      • Almost 30% of these worked in apparel industry
      • A quarter of these are self-employed
      • Remainder worked for corporate offices, managing companies, clothing stores or specialized design service firms
      • Most of them were concentrated in regional fashion centers in New York and California
      • A major trend outsourcing manufacturing activities to low-wage countries
      • Apparel imports now account for over 50% of the $100 billion industry
      • Movement away from runways shows and towards trade shows
      • E-commerce is growing within the fashion industry
  • 4. Marketing Audit Overview
    • Competitor Analysis
      • No other company offering same or similar technological innovation that tailors to the fashion industry
      • Assessment based on current established methodology of designers displaying their lines for buyers at sponsored trade shows
      • Several shows during year or “season”
      • Competition is not in the traditional sense - online trade show vs. physical trade show is a competition of two different channels of delivery each offering a unique experience
      • Revenue model of the major fashion trade show organizers relies on the selling of physical space 
      • FashionPeddler.com’s business model threatens to reduce the number of designers and buyers attending the physical trade show
  • 5. Marketing Audit Overview
    • Competitor Analysis
      • Magic
      • ENK, International
      • Designers and Agents
      • Other trade shows
      • Premium pricing model
      • Range from $3,000 to over $10,000
      • Downturn in economy not seriously affecting
  • 6. Marketing Audit Overview
    • Customer Analysis: Designers
      • 37,680 design companies in the U.S.
      • Highest concentration in New York, California, New Jersey, Connecticut, and Massachusetts
      • Europe and Asia 35,000 design companies
      • Paris, Milan, London, Hong Kong, Tokyo
      • Designer’s produce quality fashion designs
      • Expect reasonable compensation for work
  • 7. Marketing Audit Overview
    • Customer Analysis: Buyers
      • Approximately 185,000 retail buyers in U.S.
      • Approximate 58,144 total design companies in the U.S., Europe and Asia
      • Buyers need access to designers to stay ahead of fashion trends
      • Buyers exhort a strong influence in the fashion trade shows
      • Buyers will focus on price, quality and service
      • Buyers buy based on accessibility, price points, current trends, demographics and flexibility of distribution
  • 8. Marketing Audit Overview
    • Company & SWOT Analysis
      • Internal – Strengths
        • FashionPeddler.com’s online trade show is unique idea
        • Provides an alternative to traditional trade shows and a is cost effective
        • Technical expertise to extend the platform as its business increases
      • Internal – Weaknesses
        • Does not have a targeted e-marketing plan
        • Target market segment not clearly defined
        • Value benefit of online trade show not effectively communicated
  • 9. Marketing Audit Overview
    • Company & SWOT Analysis
      • External Opportunities
        • Downturn in U.S. economy can prove beneficial to FashionPeddler.com
        • Designers looking for cost effective solutions to attending fashion trade shows
        • Globalization and e-commerce enables small designers
      • External Threats
        • Few barriers to entry into the online fashion trade show
        • The concept of the online trade show is not a protectable business model
        • FashionPeddler.com does not have an established presence
        • Competitors like Magic could easily decide to expand into the online world as a brand expansion
  • 10. Marketing Audit Overview
    • Conclusions
      • A viable alternative to existing fashion trade shows
      • Key factor ability to effectively communicate the value benefit of the online trade show to potential clients
      • Developing a sound e-marketing strategy to build brand awareness
      • Identify a target market segment to drive MarCom strategy
  • 11. MarCom Strategy
    • Objectives and Strategies
      • Problem : Lack of brand awareness
        • Value benefits of FashionPeddler.com not brought across to target audience
      • Objectives: Increase brand awareness
        • Increase number of designers on FashionPeddler.com by 100 within 6 months
        • Increase number of buyers by 750 within 6 months
        • Increase traffic to the site by 1000 unique hits within 6 months
        • Increase time spent on site by 100% of current February level
      • Positioning
        • Economical alternative to the physical fashion trade show and offers buyers and designers year round trading.
        • Buyers: Convenient access 24-7
        • Designers: Save tradeshow costs/enable smaller designers to offer their products sell/showcase products all year long more spread out ordering & production no bottleneck problems
  • 12. MarCom Strategy
    • Value Proposition Designers
      • Convenience
      • Cost Effective
      • Qualified buyers
      • Traditional trade shows are not convenient for designers. In most cases the traditional trade shows are cost prohibitive and to not guarantee qualified buyers. FashionPeddler.com can be a convenient and cost effective for designers.
    •   Value Proposition Buyer
      • Convenient access 24-7 out of their home
      • Free membership
      • Cost Effective
      • Privy to unique designs
      • Trade shows limit buying to a few specific days and drastically cut margins on any sales generated. Also buyers need a way to discover new designers to stay ahead of fashion trends.
  • 13. MarCom Strategy
    • Target market personas - Designers
      • Independent fashion designers with at least a minimum of 2 year in business with an established line.
      • Target Market Analysis
        • Needs – Ability to display their products to as many buyers as possible
        • Motivations – To make Money and acquire recognition
        • Problems – A lack of capital, low ROI and lack of brand exposure
        • Media Relied – Trade magazines, online communities, personal websites, blogs
  • 14. MarCom Strategy
    • Target market personas-Buyers
      • The target buyer for FashionPeddler.com is the buyer for small to mid-sized retail establishment.
        • Target Market Analysis
        • Needs –To purchase fashion for retail clients
        • Motivation - To find unique trend setting designs
        • Problem - New brand’s credibility, cost of acquisition, finding new trends
        • Media Relied – Trade magazines, trade journals online and offline, associations, online communities
  • 15. MarCom Strategy
    • Marketing Mix recommendations
      • Product:
        • The site should also provide a place for onsite blogging, e-mail capture and a community link
        • Facilitate the designers’ public advertising efforts
        • Incorporate video clips for the designer to display on publicly and privately viewed pages
        • Add an Exit survey to gain instant feedback
      • Price – maintain current pricing strategy; however, they may be able to charge designers more if services are extended
      • Place - Business model is based on an online e-commerce site - delivery of the service online
      • Promotion – Direct personal selling to buyers also based on MarCom strategy recommendations
  • 16. MarCom Strategy
    • MarCom Strategy
      • The implementation of the MarCom plan builds on small strategic gains to increase WOM (word of mouth) and brand awareness.
      • Paid Strategy
        • SEO - retain the services of an established well qualified SEO firm
        • Paid Digital Strategy – Research and identify paid digital media placements, niche media sites, non-traditional placements arranged through partnerships and non-traditional partnerships are arranged and media placements are bought
        • E-mail marketing – Retain the service of an e-mail marketing service to incorporate Opt-In e-mail marketing
  • 17. MarCom Strategy
    • MarCom Strategy
      • Video – Make a Video and showcase it as a centerpiece on the web site
      • Blog – Create a blog for FashionPeddler.com
      • Web Site – Update and create an e-mail capture tool and add a community link where user generated content is added
      • Unpaid - Use social media marketing to increase online presence in various community based websites
  • 18. MarCom Strategy
    • Internal Com
      • Focus on the following questions: what we think, what we say, what we do, how we are perceived?
      • Answers to these questions will assist in navigating and shoring up the evaluation of the MarCom strategy
      • Should directly impact and assist in meeting the overall objective to increase brand awareness
      • Imperative that communication of relevant, timely and targeted content be on new social marketing tools
      • Provide a framework for the blog and community links and impart the site’s value benefit to the target market 
  • 19. MarCom Strategy
    • MarCom strategy schedule
      • The MarCom strategy is set for a 6 month target
      • Implementation schedule is defined as a micro strategy process where rapid assessment, measurement, adjustment and re-launch are focus
      • The incremental strategies are to be carried out every 4 weeks/monthly
      • At the end of each micro strategy schedule the processes of evaluation is conducted
      • The cycle is repeated with the goal of learning - what worked and what didn’t work and why?
  • 20. MarCom Strategy
    • Budget
    SEO $3,000 Paid Digital Media $21,000 Affiliate marketing $5,000 E-mail marketing $7,000 Video $4,000 Website development: video added to designer pages, blog and community link, newsletter, updates to content $10,000 Total $50,000
  • 21. MarCom Strategy
    • Evaluation
      • Review marketing communications strategy using Google Web Analytics http://www.google.com/analytics/ to gain insight on who is visiting site and to confirm segmentation strategy.
      • Review of monthly micro-strategies per MarCom schedule.
      • Evaluation and review of the results from the “4Q” exit surveys http://4q.iperceptions.com/default.aspx?c=en-US to gain direct feedback that can then be incorporating into MarCom strategy.