Building Brand Equity
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Simple Formula for building Brand Equity
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Building Brand Equity
- 1. Building Brand Equity “in one segment of the world”
- 2. ● Brand Audit ● Establishing Brand Equity: Associations ● Establishing Brand Equity: Awareness ● Establishing Brand Equity: Loyalty What & How?
- 3. Answer this: Who do you think you are? “Sleek. Clean. Minimal.” The Brand Audit
- 4. Brand Essence: Clean, Sleek, Minimal; Avant Garde Core Identity : androgynous hybrid of sportswear and tailored elegance Extended Identity: Fresh Take on Basic Menswear, Uncompromising (quality, detail, customization) Brand Identity
- 5. The Clock Model: Pre-Purchase, Purchase Pre-Purchase Elements ✓ Website ✓ Industry Press ✓ Fashion Blogs ✓ Social Media ✓ Word of Mouth ?% Purchase Elements ✓ Retail Partnership ✓ Custom Tailoring ✓ In-Studio Exclusives ?% Post-Purchase Elements ?%
- 7. Three Hurdles How do you score? Sustainability Differentiation Relevance “how you are perceived to be by customer today”
- 9. Luxury Regions to Enter? (where brand can gain value) Enter and Expand: Asia Enter Next: Western Europe/France Enter Last: North America 33% of market 27% of market 25% of market GLOBAL LUXURY MARKET $339,371 MIllion
- 10. Luxury Region - Asia Asia-Pacific region: Market attractiveness 2012 (excl. China and India) Japan stands out as: Attractive & “Safe” from inflation
- 11. Luxury Region to Enter and Grow (5 years) Apparel and Footwear Segment
- 12. Luxury Region to Enter and Grow (5 years) - Asia Asia-Pacific region: Inflation 2012
- 13. Luxury Region to Enter and Grow – Asian Market Growth Japan Luxury hills and valleys Asia Pacific Luxury moderate growth
- 15. Google Trends by Region France has highest search trend in luxury Seal of Approval Japan has highest search trend in fashion consumption
- 16. Global Luxury Industry at a Glance – Japan • World’s 2nd largest luxury market in the world • In the past 5 years, sales have grown slower than any other Asian market = stagnant growth • 2013 new economic policy Abenomics pushed economic performance forward and sizable increase in wealth thus boosting consumer spending • But more tax increases are expected and consumers are “investing” into big ticket items today • Abenomics will not have a further significant impact on economy growth • Enter and grow: aspirational designerwear lines
- 17. Global Luxury Industry at a Glance – Europe • Eurozone Includes 10 luxury markets in the world (Italy, France, Germany and Spain) • Due to debt crisis, tight fiscal policies were adopted and less consumer spending was observed • In future, Eurozone is expected to see modest growth • UK, not past of Eurozone is the 6th largest luxury market in the world • UK is the fastest growing economy in Europe • Continued recovery in consumer spending Enter with uber luxury designerwear lines and accessories (not to sell but to dictate global associations & validation)
- 18. Global Luxury Industry at a Glance – United States • Largest luxury market in the world, outpacing Japan by 2 X • US economy is on a recovery path after modest growth • Income growth came from high-income households • After tax income for high-income households outpace tax rate increases Enter with top luxury and aspirational designerwear lines, accessories will do well too
- 20. Tailoring – Avante-Garde – Chic – Colorful Competition
- 21. Competition in Japan Paul Smith rank improves by 57 points in Japan! Deloitte “Global Powers of Luxury Goods” I 2014 McKinsey “ Luxury Goods in Japan” I 2013
- 22. Asian Menswear Trends Leader- Japan Follower- Korea Copy Cat- China
- 23. Survey Q? : Please describe the consumerBrand Public Perception
- 26. Japanese Luxury Consumers Less attractive Logo fatigue Younger Generation Consumers ▪ distinct characteristics and needs ▪ pursue uniqueness fashion style and personalized luxury goods ▪ Middle class, white collar and Second Rich Generation
- 27. Japanese Consumers Where do they Shop? Tokyo Shopping Districts: Shinjuku, Ginza Boutique stores High-end department stores Company-Owned stores Outlets Online
- 28. Japanese E-Commerce Japanese Shopping Trend Online revenue alone is over $1 billion in 2014 2 X higher than the Japanese industry average e-commerce Update e-commerce offers every 1.5 hours http://blog.btrax.com/en/2014/06/30/japanese-fashion-retail-brands-getting-e-commercialized/
- 29. Recommendation : Define the Target Customer WHO IS HE / SHE / THEY ???
- 30. Loyalty Awareness Perceived Quality Associations Proprietary Brand Assets FOCUS ON SEGMENT ADDED BRAND EQUITY
- 32. BUILDING AWARENESS VIA DIGITAL STRATEGY FOCUS
- 33. Digital Media and Luxury Source: Digital Competitive Map (July 2014) | Source: Exane BNP Paribas
- 36. Website Digital Marketing Mobile Social Media ☑ Technology ☑ Navigation ☑ Product Pages ☑ Custom Tailoring ☑ Localize ☑ Search / SEO ☑ SEM ☑ Blog / Content ☑ Other Ads ☑ Engage ☑ Compatible ☑ Apps ☑ LocationAds ☑ Catalogues ☑ Sizzle ☑ Facebook ☑Twitter ☑Instagram ☑ Google + ☑ YouTube ☑ Pinterest
- 37. Social Media: Recommendation Domestic strategy Content Management & SEO: Social Media Source: - Prphet affluent male
- 38. Online Sources To Research Luxury Goods in Japan - 2013
- 39. Japan: Pre-Purchase By Device
- 40. Apparels & Accessories (%) Internet 52 % TV Shows 28 % Locomi (Local Online Search Service) 14 % Ads 20 % Brochures / Flyers / Direct Mail 16 % In - Store 48 % Japan: Pre-Purchase Channel
- 41. SEM: Current Market Share in Japan
- 42. Social Branding Targets: where will you spend??? Network Current By Jan 20XX Paid Source – eMarketer.com : Performance Metrics for Facebook Ads
- 43. SEM: Japan Recommendations for Start Up SEM Budget Recommended Daily Budget ($) Daily Clicks Impressions Annual Max Cost ($) Annual Max Clicks Conversion (0.20 %) Conversion Revenue Total Spend ($) Total Clicks Total Conversions Revenue per conversion Total Revenue
- 44. Loyalty Awareness Perceived Quality Associations Proprietary Brand Assets FOCUS ON AWARENESS ADDED BRAND EQUITY
- 46. Survey Q? : Where would you expect to buy these clothes? Where does the LOYALTY lie?
- 47. Loyalty Awareness Perceived Quality Associations Proprietary Brand Assets FOCUS ON LOYALTY ADDED BRAND EQUITY
- 48. ● Brand Audit ● Establishing Brand Equity: Associations ● Establishing Brand Equity: Awareness ● Establishing Brand Equity: Loyalty Conclusion