E-Marketing Plan FashionPeddler.com


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E-marketing Plan FashionPeddler.com

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E-Marketing Plan FashionPeddler.com

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