3. EXECUTIVE SUMMARY
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3
The EFMM6003 Part One: Illustrated Marketing Report takes an in depth
look at the possibility of the Swedish brand Monki launching a menswear
line to grow their market share and establish themselves within the
menswear market. The report covers an overview of the proposal, a
detailed marketing mix and a glance at the launch marketing business
plan.
The research quotes is both primary and secondary.
4. INTRODUCTION
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4
The menswear market has rapidly grown over the last few years. By 2013
the UK menswear market was worth a total of £12.9bn [2]. On a global
scale, the menswear market is worth $423.2bn [22]. It is further
estimated that by 2018, the menswear market is to grow by 27% [3]. From
these figures it is clearly illustrated that the menswear market is strong and
growing. This is perfect for Monki to launch into the menswear market with
the introduction of MONKI MAN.
Both primary and secondary research shows that men are becoming
more fashion conscious and are struggling to express themselves through
their clothing. This gives Monki an advantage over the current key
players within the market. MONKI MAN is to stand by the brand motto of
individual expression. They will do this through the garments being fun and
quirky (giving them an upper hand). This will also reflect well on the brand
image as it is very playful. The current key players are River Island, Cheap
Monday, TopMan and Weekday. These key players are not as quirky and
playful as Monki.
In terms of the macro environment, it is evident that fashion and
technology are mixing [23]. The menswear market has grown by 18% in
the past five years [22] and men are becoming more fashion conscious.
There is a social change towards male vanity [4]. Male consumers are
also predicted spend more on clothing than women [13]. Today it is far
more acceptable for men to take pride in their image. Marketing
strategies are changing and social media is becoming a popular method
as it is cheaper and connects with the consumer more effectively. This is
perfect for Monki as the brand has a well-known social media presence.
5. 1. THE PROPOSAL
6 . . . 1.1 COMPANY OVERVIEW
9 . . . 1.2 OUTLINE OF NEW PRODUCT
10 . . . 1.3 UNIQUE SELLING POINT
11 . . . 1.4 ANSOFF MATRIX
5
6. 1.1 COMPANY OVERVIEW
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“The truly strange and wonderful tale of Monki’s birth. It all began on a
very ordinary day. Three friends got together to do some Dreaming. And
Thinking. And Doing. But what they dreamed up... was a different world.”
[1]
IKMOOIMOO KIMOMO
OKI MOLUNA KYOMOCKI
“A world of eclectic fashion, made for you with a store and a story like
no other: a place that would be all about expressing yourself. Living life
your way. A place where fashion would be fun and there’d be music and
parties and laughter.” [1]
THE MONKI CHARACTERS
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7. 7
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A BRIEF INTRODUCTION
‘We have seen her return from a long flight with a
faraway look in her eyes. She whispers to you about
nights with no end, and stars like diamonds spread out
against the sky.’ [1]
Moluna
55% Dreams , 30% Helium , 15% Lunalium
Oki
15% Analysium , 20% Socialium ,
65% Proto-positivium
‘Yes! Yes, yes and yes again. We have never seen
Oki anything but blissfully happy with
whatever happens. Even the rain. Even mean
people. Even the impossible. Sometimes we wonder
if she’s ever been angry (and had to say sorry
afterwards)?’ [1]
‘One that we’ve seen, out of the corner of our
eyes, stopping suddenly to stare into space… As
if he could see things that live on other planets, in
other seas. Hums the soft songs of the deep.’ [1]
Imoo
10% Gothium , 20% Wool , 20% Socialium ,
50% Emotionium
Kimono
10% Helium , 20% Silk ,
20% Metamorphorsium , 50% Desirium
‘This one seems to ask: Are you even alive if you’re
not in love? With someone or something or with
everything. And so we’ve seen her fall for a trinket,
a pretty pebble, a falling leaf or just a hint of some
gorgeous colour.’ [1]
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Ikmo
15% Iron , 15% Plutonium , 15% <3 ,
55% No
‘It’s a no. Whatever you want to ask, it’s a no, no,
no. We believe Ikmo disapproves of e-v-e-r-ything.
Tea, Paris, flowers, a first kiss. Ugh. Still, there are
times when saying yes means selling yourself short.
And times when everyone needs to say no. Ikmo is
a no-friend.’ [1]
Mocki
10% Fantasium , 15% Socialium , 50%
Rebellium , 25% Wilditude
‘The jester, the secret laugher, the punk! The one
that steels just one of your
favourite socks or your best daydream and runs
away with it with a wild cry, like a madman. That
watches you watching him, hoping to make you
stumble. The one you want to be, sometimes.’ [1]
Kyo
25% Secrecium, 25% Go-Lium ,
50% X-Ray Vision
‘An alien creature from far away, one-eyed,
strange-featured, bouncing all over the place. Too
much, too loud: so wonderful. He seems to come
from a place far beyond even the Monki World.’ [1]
Monki currently has seven
main characters that fall
into the story of “The Monki
World”. This has led to the
inspiration of both the visual
concepts throughout the
stores and within the
branding.
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48. 2.4.2 OMNI-CHANNEL RETAILING
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MONKI
MAN will be
available
to view and
purchase
across both
the European
and Asian
markets. The
initial stores
to launch the
menswear
line will be
in Sweden,
London,
Japan. Other
stores will vary
depending on
the location
of which
the online
products are
purchased.
48
MONKI
MAN will be
available to
purchase
across all
its current
online
markets.
The website
will remain
the same
and an
extension
will be
added.
56. 2.6.1 BRANDING
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56
The labels are very minimal
with the logo, however
with the addition of the
holographic paper, Monki
still adds its touch. The
label also includes a plastic
character. Monki currently
also offer a “Team Monki”
loyalty card that allows 20%
off on the sixth purchase.
The branding of Monki
consists of playing with the
idea of the Monki World.
Their shopping bag includes
a map of the world. Their
receipts include the current
characters along with the
T&C’s.
TAGS AND BAGS
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57
CLOTHING TAG
To be made of two cards. Front to be
holographic and back to be plain white.
Second card to be plain with garment details,
price and country of manufacture.
SHOPPING BAG
Bright and colourful to both reflect the brand
personality and to create curiosity amongst
consumers. Will be given to all customers to
raise awareness of the new line.
MONKI MAN
The launch of the new line will
release a new Monki character
known as Monki Man.
He will prominent amongst the
campaigns for the menswear line.
64. 64
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LAUNCH DURING
STOCKHOLM FASHION WEEK
#MONKIMAN
SOCIAL MEDIA CAMPAIGN
1
3
SPEND
LUNCHTIME
ONLINE
SHOPPING [4]
63.64%IMPULSE BUYERS [7]
MONKI WILL
USE
THEIIR CURRE
NT
STORES
>
81.87%MORE LIKELY
TO PUR
CHASE DUE
TO THE VM
OF A STORE
[6]
SOCIAL MEDIA
IS THE
GREATEST
REVOLUTION
[5]
>
MENSWEAR
SHOPPING
THROUGH
SOCIAL
MEDIA
[12]
AVAILABLE TO
PURCHASE ON
MONKI.COM
53.33%
LIKELY TO BUY DUE
TO SOCIAL MEDIA PROMOTION
[6]
83.87%
EXPRESS
THROUGH
CLOTHING
[6]
#TEAMMONKIMEMBERS RECIEVE PROMOTIONS
FREE DELIVERY WITH PURCHASES
OVER £80
FROM RESEARCH IT IS EVIDANT THAT
SOCIAL MEDIA IS IMPORTANT TO
BOTH CONSUMER AND BRAND
CREATIVE VM ATTRACTS THE
CONSUMERS AND MOTIVATES
PURCHASES TO BE MADE
MONKI MAN IS THE PERFECT LINE TO
CATER THE NEEDS
