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Brand Management&Product Marketing / Gyeongmin Kim (5052114)
STRATEGIC BRAND EXPORT
REPORT ‘MUSINSA’
1. INTRODUCTION
Why did I choose this brand?
The differences between European and Korean fashion
2. A DESCRIPTION OF THE COMPANY
Basic Information, History, Legal Form, Mission and Vision of the
Company, Financial Results of The Past Years, Future Forecast
3. A DESCRIPTION OF THE BRAND
Brand Elements, Brand Awareness, Brand Knowledge, Attitude towards
the Brand, Loyalty towards the Brand, The Brand Value, Marketing Mix
4. BRAND IMAGE STUDY (INTERVIEW)
Finding the brand’s values and associations in the minds of the
domestic consumer
5. DESK RESEARCH THE FOREIGN MARKET - EUROPE
Think about cultural differences by using the Hofstede model for
Cultural Difference
6. CONCLUSION – ADVICE TO EXPORT TO EUROPE
Successful export in terms of brand name, distribution, advertising, etc.
7. APPENDIX
1. INTRODUCTION
“Why did I choose this brand?”
MUSINSA is the largest online fashion commerce and Platform in Korea.
It handles a variety of fashion products, ranging from clothing to bags and
accessories. Now, the age range of consumers has also gradually widened,
making it a brand that any Korean interested in fashion knows.
It has already been 6 months since I came to the Netherlands for the
exchange student program, and I have traveled to 10 countries in Europe
in a period of 6 months. Living in Europe, it was very interesting to observe
the fashion of European people. In this process, I found some clear
differences between European and Korean Fashion.
First, it is the difference between European fashion trends and Korean
fashion trends. I think European people pursue individual fashion that suits
their own style. For example, vivid-colored tight dresses seem to be
popular among women seeking glamour, and cargo pants have been a hit
for women seeking hip and casual mood. Therefore, even if there is a
trend in fashion, the style is very wide, and the branches of the trend seem
to spread thin and diverse. On the other hand, in the case of Korea, the
trend is very fast, and the range of fashion is narrow. This is because the
country is small, but the population density is high, and the trend is spread
to the entire public quickly through K-pop idols or influencers. For this
reason, Korean fashion has the characteristic that certain fashion style is
mainly popularized. I think it can be both a disadvantage and an
advantage. As the trend is fast, unique and new items continue to appear,
and if one item becomes popular, many brands release the item with their
brand personality, so Koreans have a wide range of choices. The pictures
below show Balaclava, which was a boom among Korean last winter. If you
search for Balaclava on the MUSINSA site, you can find countless different
brands items.
Second, Europeans are more interested in Asian culture than I thought.
Many people wear clothes with Korean and Japanese words or clothes with
symbolic elements of the Asia such as dragon, ramen, and mountain of the
East. They even get tattoos with things related to Asian culture. Europeans
tent to think of the elements that symbolize Asia as aesthetically beautiful
and fashionable.
Based on these two ideas, I thought it would be incredibly successful to
export MUSINA, the youngest and trendiest fashion brand, to the European
market. In particular, Korea is a country that opens the door to the Asian
fashion market. Korean fashion is recognized so much that it can represent
Asian fashion. Claudia D'Arpizio, senior partner and global head of fashion
& luxury at Bain & company, said the country is confirmed to be a small
but very dynamic market by all analysts (di Federica Camurati, 2022).
2. A DESCRIPTION OF THE COMPANY
MUSINSA as a company
MUSINSA operates as a fashion commerce company. It was founded in
2001 and is based in Seoul, South Korea. The company provides an online
shopping mall, a fashion magazine, and online promotion services. We
should remember that MUSINSA is not just an ordinary online e-commerce
company. The company continues to expand its reach by operating
‘MUSINSA Store’, which houses more than 5,000 brands, including street,
global luxury, and design items, ‘MUSINSA Magazine’, a fashion magazine
that delivers the latest fashion trends and information, ‘MUSINSA
Standard’, its own modern basic casual wear brand, and ‘WUSINSA’ for
women. Let’s look at the history of MUSINSA, which continues to expand
its scope with contents and communities.
History of MUSINSA company
Below is the history of the company.
- 2001: Sneakers online community ‘MUSINSA’
- 2003: Online fashion community ‘MUSINSA.com’ established
- 2005: Online fashion webzine ‘MUSINSA Magazine’ published
- 2009: Online fashion store ‘MUSINSA STORE’ service launched
- 2016: Women’s fashion brand Store ‘WUSINSA’ service launched
- 2018: A fashion sharing office ‘MUSINSA STUDIO’ opened
- 2019: Fashion and culture complex ‘MUSINSA TERRACE’ opened
- 2020: Limited Edition store ‘SOLD OUT’
The company’s growth story shows
how passion and interest are important
to company’s success. In 2001, Cho
Man-ho, a senior high school student,
opened an online community called
‘MUSINSA’ to collect photos of his
favorite shoes (Jihye Min,2020). ‘MUSINSA’ is a shortened version of “A
place with many shoes photos” in Korean. In this community, sneakerheads
shared their opinions and information on limited editions, and reproduced
the sneaker culture.
In 2003, MUSINSA.com scaled to be
go-to online fashion portal beyond
sneakers, and soon became a mecca of
Korean street fashion and culture. In
2005, it started operating MUSINSA
Magazine, a fashion magazine that
delivers the latest fashion trends and information. MUSINSA Magazine
quickly emerged as a leading media for fashion news including interviews
with designers and creators, brand showcase reports, and product releases.
It is a channel for MUSINSA original contents such as brand pictorials,
street fashion looks, and styling suggestions (official website ‘About
Musinsa’, https://about.musinsa.com/en)
In 2009, MUSINSA became an online select shop exclusively for authentic
designer brands. MUSINSA Store, an online fashion & lifestyle store, offers
trendy design products that are not available in offline stores. MUSINSA, A
kind of select shop, launched its own clothing brand in 2017. MUSINSA's
own brand, MUSINSA Standard, aims to
provide quality products at the best
price. In particular, the brand has begun
to be recognized by consumers for its
high-end slacks and blazer jackets. In
2020, MUSINSA also challenged a new
field of business. They launched ‘Sold Out’, a re-commerce platform that
allows consumers to share and resell each other's fashion items. In
addition, the company did not stop expanding its field by launching
various new platforms such as multi-store ‘Lazy Night’ for women.
Legal Form
MUSINSA, founded by Cho Man-ho in 2001, is headquartered in Asia-
Pacific (APAC), and its current CEO is Han Moon-il. The legal name is
MUSINSA Co.,Ltd. The last funding type was venture (Series Unknown), and
the company type is for profit.
Mission and Vision of MUSINSA company
When you do fashion, do it with MUSINSA.
MUSINSA aims to empower brands and customers’ lifestyle by using
their platform to design, create, enjoy, and interact with fashion. They have
been pioneering a new market for designers to create new fashion brands
and to spread their stories globally. Their mission can be that brand
success is OUR success. They tell stories of their brand partners’ core value
in an exceptional and captivating way through their original contents.
Financial results of the past years
In 2021, MUSINSA has achieved record high growth, exceeded 90%
growth when compared to 2020. the total sales of online fashion platforms
operated by MUSINSA recorded 2.3 trillion KRW (roughly $1.860 billion
USD). This remarkable growth marks that MUSINSA opened the new era of
Online Fashion Platforms in Korea. Customer activation indicators also rose
overall. MUSINSA had 4 million monthly active users (MAU) in 2021. The
platform has seen a roughly 30% increase in the past year and has
surpassed 10 million members (MUSINSA Newsroom, 2022).
The company’s future forecast
According to the MUSINSA Newsroom, Increasing the sales of domestic
brands that have gained popularity mainly among teenagers and 20s has
played an important role in MUSINSA's growth. Therefore, MUSINSA plans
to expand its target market and category by new fashion services for
children and women between the ages of 35 and 45. In addition, as the
domestic luxury brand, golf, and beauty market continues to grow, It is
expected that if MUSINSA strengthens its expertise and enhances service
competitiveness by expanding brand recruitment suitable for various target
markets, it will be able to produce good financial results.
3. A DESCRIPTION OF THE BRAND
Analysing MUSINSA as a Brand
Brand elements contribute to increasing brand awareness and creating
and strengthening strong and unique brand associations. The brand
elements include a name, slogans, symbols, color, logos, mascots, and
website. When choosing elements for a brand, they should meet a
combination of the follow 6 aspects: memorability, meaningfulness,
likeability, transferability, adaptability, and protectability. (Richard Slade.
2018). Based on these six criteria, I will examine the brand elements that
establish MUSINSA’s unique brand identity and analyze MUSINSA in detail.
The name of MUSINSA is an
abbreviation of Korean word for ‘A place
with many shoes photos.’ For Koreans
who don’t know the brand’s story, the
name can sound very ridiculous and
unique. Because in general, in Korea, ‘MU’ means ‘nothing’ and ‘SINSA’
means a gentleman. Because of this absurd combination, MUSINSA’s name
is very memorable, and it is difficult to find similar names, so it has very
high legal protection. However, in your case of knowing the brand’s behind
story, don’t you think this name has meaningfulness as well? In addition,
the name is easy to pronounce and write to foreigners, so it has high
transferability, and it is also flexible to apply depending on the target
market., such as transforming into ‘WUSINSA’.
The slogan created based on the
brand name exploded the brand’s
awareness of domestic consumers.
The slogan ‘Da MUSINSA rang hae’
can be interpreted in two ways. (1)
Do everything with MUSINSA = Buy clothes through MUSINSA. (This
meaning is consistent with the company’s vision of ‘When you do fashion,
be with MUSINSA’) (2) You all love MUSINSA. MUSINSA’s campaign with
this witty slogan contributed greatly to brand awareness. In fact, according
to the open survey “MZ Generation Fashion App Trend Report 2022”,
MUSINSA was selected as the fashion platform with the highest awareness
and experience in using it (Young ah Lee, 2022). This result shows that
MUSINSA has a very high brand awareness and high consumer experience.
Also, as the brand slogan states, MUSINSA has developed and expanded
to encompass all fields related to fashion. What the brand considered
important as it expanded is the community and own contents. When
MUSINSA existed as a fashion community in the beginning, the founder
thought it needed to differentiate itself from other fashion communities, so
he started his own unique content, ‘Street Snap’. Street Snap is a content
that MUSINSA’s reporter walks around the street and takes pictures of
fashionable people. Street Snap allowed users to feel like members of the
community, not just consumers. And even it allowed the brand’s fandom
to be formed. In addition, the brand has transformed from a community to
a media content company by releasing ‘MUSINSA Magazine’. By adding
content to the community, members frequently visited the site and
increased their stay time on the site. As such, MUSINS promoted their
brand value through various contents such as Street Snap and MUSINSA
Magazine and secured loyal customers. In fact, according to the results of
the 2019 Open Survey, when asked why they use MUSINSA, 65% of the
respondents answered ‘to see new trends’ and 48% answered ‘to habitually
access it without any special reason’(Jaewoong Jang, SeungHoon Lee,
2021). In this way, MUSINSA created a reason to steadily access MUSINSA
through the contents and formed a strong fandom.
MUSINSA Store, an online editing shop that adds the function of
commerce, is also suitable for explaining the main value of the brand.
MUSINSA Store is an online store that collects domestic designer brands,
which is also composed mainly of contents and community functions. The
website’s first screen is filled with functions with strong community
features such as content and ranking, not products or advertisements. This
is completely different from other fashion platforms.
MUSINSA’s Marketing Mix (4Ps)
The Marketing Mix is first formally conceptualized in 1960 by E. Jerome
McCarthy (Coursera, 2023), which helps to balance the overall organization
of marketing strategies. Marketing Mix 4Ps consists of product, price, place
and promotion. Let’s analyze MUSINSA’s Marketing Mix.
1) Product
MUSINSA’s Product is a platform with numerous brands. MUSINSA
conducts marketing collaboration, infrastructure provision, and funding
activities so that brands can stably develop their brands. MUSINSA also has
its own brand, ‘MUSINSA Standard’. MUSINSA Standard makes high-quality
clothes that are good to wear every day.
2) Price
Price varies widely from brand to brand in MUSINSA Store, but the
quality of products is guaranteed considering that most of brands are
domestic designer brands. Therefore, consumers can trust and purchase
even if it is an expensive product. Also, since promotions such as free
delivery and coupon promotion are frequently held, most of products are
generally reasonable compared to other commerce shops.
3) Place
MUSINSA is an e-commerce company,
so you can access it through an online
app or website. In 2019, MUSINSA
Terrace, a fashion and cultural complex,
was opened. Considering that they are
customers in their 10s and 20s, who are the main users, they chose the
youngest and trendy Hongdae area. At MUSINSA Terrace, people can
enjoy a variety of brand experiences such as shopping, food, relaxation,
and exhibitions.
4) Promotion
MUSINSA is very active in marketing activities in a wide variety of
media, including TV, YouTube, SNS, and outdoor advertisements, etc. Also,
MUSINSA is conducting various promotions such as collaboration events
with other brands, participatory events, and discount events held in the
app.
4. BRAND IMAGE STUDY (INTERVIEW)
Finding the brand’s values and associations in the minds of the
domestic consumer
I had a brief interview with 5 Koreans in their 20s about the brand
MUSINSA. This interview was conducted to find the brand value and
association in the minds of domestic consumers. When I asked what was
associated with the brand MUSINSA, could get various answers. Various
answers were divided into 3 categories: service, product, and image. The
answers in the yellow box are common answers from many people.
In terms of service, there was a positive evaluation that it is a good
platform because it was easy to find various brands and search for popular
trendy fashion items through ranking service. It was also reminiscent of a
snapshot service where ordinary people can upload their fashion photos
and follow each other.
In terms of product, graphic T-shirs and hooded T-shirs were easily
recalled, and MUSINSA-like black slacks were also mentioned.
Interestingly, the answers on the image were a little contradictory. There
were respondents who make positive estimation as a young, trendy, and
cool style. They called it the ‘MUSINSA Style’. It’s amazing that ‘MUSINSA
Style’ can be created even though it’s just a platform that brings together
various brands. On the other hand, some respondents negatively evaluated
this ‘MUSINSA Style’. They said kind of ‘MUSINSA Style’ is uniform, lacks
individuality, and is a common fashion style that the public likes. One of
them even evaluated that the fashion of Koreans in their 20s is similar,
calling it a clone look.
Through this interview, I was able to discover the characteristics of
Korean fashion that Koreans see. Koreans are very interested in fashion
and spend a lot on fashion, but they seem to value popularity rather than
individuality. They prefer trendy and generally cool fashion to eye-catching,
intense, and manic fashion. I think this is what happened when domestic
brands grew, and many people consumed and wore them. Simply, it means
that Korean fashion is gradually growing. There is also a negative view of
extreme trends, but this is a growth process to go to a higher level. In fact,
foreigners who visit Korea evaluate that the average style of Koreans is
very high. I think this is proof that Korean fashion is becoming more
leveled.
5. DESK-RESEARCH THE FOREIGN
MARKET - EUROPE
Think about cultural differences by using the Hofstede model
Hofstede’s Cultural Dimensions Theory is a framework for cross-cultural
communication, developed by Geert Hofstede who is the famous Dutch
social psychologist. It explains the effects of a society’s culture on the
values of its members, and how these values relate to people’s behavior
(Hofstede, G., 2003). Geert Hofstede summarized the results of the
occurrence of cultural differences into power distance, individualism,
masculinity, uncertainty avoidance, long term orientation, and indulgence.
Desk research on European countries will be needed to export MUSINSA
to Europe. Therefore, the gap between the Netherlands, United Kingdom,
and Korea, which are representative European countries, was examined
through Hofstede insights site. Cultural comparison through theses 3
countries is only intended to find approximate differences, and it is difficult
to generalize all European countries based on this result. For more
accurate comparison, further research and verification will be required for
this experiment.
When looking at the graph comparing the three countries, the aspect of
individualism stands out the most. Korea’s individualism is seriously low
compared to the Netherlands and United Kingdom. The individualism is an
index that indicates how independent an individual acts from a group. If
this index is low, it can be interpreted that people are highly interested in
how they look in society. Korea’s result for individualism is related to
Korea’s pursuit of popular fashion. Even in the case of Korea, uncertainty
avoidance and long-term orientation are higher than two countries, and
the Indulgence is lower. From these results, it is understood that Korean
social culture pursues something very conservative and stable. On the
other hand, in the case of European countries, there are differences
between two countries, Individualism is much higher than in Korea. It is
understood that individual achievements take precedence over group
achievements in Europe. Also, it can be understood that they value
individual freedom, independence, and identity more than Korea.
6. CONCLUSION
Advice to export to Europe
Through a brand image study, I investigated the image of domestic
consumers about the brand MUSINSA and identified the cultural
characteristics of the European market using the Hofstede’s model. Based
on these two studies, I came up with some considerations and effective
marketing strategies when entering the European market.
1) Unique positioning: Worldwide online fashion platform featuring the
face of Asia
What would be MUSINSA’s competitive brands when entering Europe? I
thought of some online fashion integration platform that is widely used
around the world, such as CIDER, ASOS, and SHEIN. They are good for
searching for all fashion items on one site and receiving delivery anywhere
in the world. Then, what can be MUSINSA’s unique selling point that
distinguishes it from the brands? The answer is that MUSINSA is “Korea’s
trendiest fashion platform”. Therefore, I suggest positioning it as the
trendiest Asian fashion platform.
For this, first, the name of brand must remain the same as the current
name. Because the name of MUSINSA has a unique Asian nuance that is
different from the existing foreign brands.
Second, Brand models and product models on the product details page
should be used as Asians. Attractive Asian models will be good for
European attention and will be able to establish a unique brand image.
(Unfortunately, more than 80% of MUSINSA's Korean sites use foreign
models.) At this moment, the target consumers should be people who
have a positively perception of Asian culture and a clear identity for
fashion.
Finally, in terms of quality, it is necessary to ensure high quality unlike
existing online fashion platform brands. SHEIN and CIDER are gaining a lot
of popularity at low prices, but brand satisfaction is not high due to bad
quality and long delivery periods. Both are from China. In order to
eliminate prejudice against Asian brands in the mass market, MUSINSA
must maintain its good quality, even if the price is a little high. For that, it
is necessary to enter a high-quality design brand rather than pursuing a
low price.
2. Algorithm service to recommend
I suggest using a recommendation algorithm service rather than a
popular product ranking service. As the result of cultural differences shows,
Korea's individualism is very low. Koreans like to keep up with rankings or
trends because the opinions of the public or the majority are important for
them, and they are fashion-conscious. However, in the case of Europe,
where individuality is important, If the app recommends products
according to the ranking, the brand preference will reduce. Therefore, I
propose to introduce an algorithm service that recommends products and
brands based on users’ fashion photos. Users will upload 5 to 10 fashion
photos that represent themselves when they first sign up and use the app.
The algorithm service further subdivides and recommends their fashion
style based on photos uploaded by users. It will also be interesting for
users to recommend a new brand that suits their style. In addition, It will
provide an interesting opportunity to experience various Korean design
brands and enjoy shopping.
3. Promoting partner brands using MUSINSA’s competitive content
MUSINSA is also in charge of producing contents for brands that have
entered MUSINSA. They are continuously working to promote the brands,
Including MUSINSA Magazine and MUSINSA Store. MUSINSA’s the most
important value is to deliver the partner brands’ core values in an
exceptional and fascinating way through their original content. MUSINSA
must not lose the important brand value, ‘content'. Therefore, I propose to
implement marketing that focuses on content, which is the competitiveness
of the brand.
For this, First, it produces a lookbook and coordination map that
combines trendy fashion items that are popular in Korea. The produced
lookbook and coordination map are advertised through SNS such as
Instagram. Trendy design brand products will be effective in attracting
early users and in promoting MUSINSA’s entry brands.
Second, it will hold a MUSINSA Showcase on its online website to
promote MUSINSA’s entry brands. It is to create the experience of the
showcase in the offline space as online content. Users can experience
visual and auditory pleasure online, among the features of offline.
MUSINSA Showcase offers this experience in that it expresses the brand's
identity, value, collection, and items with stylish visuals and music.
4. Marketing strategy with distribution
MUSINSA needs to promote the brand by saying that the delivery fee is
always free. Or it will be important to specify the shipping cost accurately.
In the case of international shipping, consumers feel burdened with
shopping costs. All products of MUSINSA in Korea are free of delivery
costs. Even though it is an international delivery site, if it offers such a
benefit, it will be a big competitive advantage for the brand. Furthermore,
the brand can plan an offline pop-up store to expand customer contact
points by identifying the consumption culture by country as well.
Based on brand image study and cultural characteristics of the European
market, I came up with 4 effective marketing strategies and considerations
to enter the European market. I am looking forward to exporting MUSINSA
to Europe, allowing people who are positive about Asian fashion culture to
approach trendy high-quality Korean fashion brands. Also, people who
don’t have a particular view of Asian fashion will be able to have a positive
image of that through MUSINSA. And this will also be linked to a rise in
brand sales. MUSINSA will serve as a role for young Korean designers to
enter the world stage, which will be a good opportunity for many Korean
fashion brands to become known to the global market. The borders of
fashion are being torn down. I look forward to MUSINSA leading the
globalization of K-fashion.
About Musinsa. Our Story. https://about.musinsa.com/en
Coursera (2023). The 4Ps of Marketing: What They Are and How to Use
Them. https://www.coursera.org/articles/4-ps-of-marketing
di Federica Camurati. (2022). Korea leads the way for Asia. MF fashion.
https://www.mffashion.com/news/korea-leads-the-way-for-asia-
202209061023205786
MUSINSA Newsroom. (2022). MUSINSA Opens the Era of Online Fashion
Platforms in the Republic of Korea with Extraordinary Sales of Over
Two Trillion KRW (Roughly $1.617 Billion USD).
https://about.musinsa.com/newsroom/2022-0113-gmv
Hofstede, G. (2003). Cultural dimensions. www.geert-hofstede.com.
Jaewoong Jang, SeungHoon Lee (2021). DBR Case Study: Unicorn Company
MUSINSA’s Growth Strategy.
https://dbr.donga.com/article/view/1202/article_no/10189
Jihye Min. (2020). Starting with the “A place with many shoes photos”
community… It’s now a fashion platform with a trillion won deal. Hankyung
Economy. https://www.hankyung.com/economy/article/2020101676381
Richard Slade. (2018). What makes a Strong Brand?. BrandRefinery.
https://www.brandrefinery.co.uk/what-makes-a-strong-brand/
Youngah Lee (2022). 6 out of 10 people in the MZ generation choose
‘MUSINSA’. https://www.techm.kr/news/articleView.html?idxno=96706
7. APPENDIX
1) Brand Yourself
Today’s Light, NOOR
My name is Gyeongmin. I have a name that is very difficult to pronounce for
foreigners. Not only that, but It’s also very difficult to remember. No foreigners
remember my name at once. As you did... 🤣 I always had a craving to have an
English name, but as a Korean, it was very awkward and embarrassing to make
English name to myself. So, I just introduced myself as my family name, Kim.
However, I'm not called Kim in Korea, so this caused to be confused about my
identity.
I went on a trip alone to Morocco, Africa, during the spring break. This trip
presented me with a shining name. I remember the dawn when I lay on a blanket
in the Sahara Desert and looked at the countless stars. A friend I met in
Merzouga, Morocco, treated me with all his heart. However, As expected, he
couldn't remember my name, and he wondered what it means. My name,
Gyeongmin, means shining jade stone. I explained the meaning of my name to
him, and he presented me with the name Nora, or Noor, which means shining in
Arabic. The name I received as a gift under the pouring shooting star felt so
precious to me. I felt really new and mysterious. It even connects to my life
motto, The Beatles' music 'here comes the sun'. My motto means that even if it's
been a long, cold, and lonely winter, it's all right because the new sun will rise
again soon. We live a different day every day, and tomorrow will be a new light.
I'm a futuristic person who doesn't get discouraged and expects a new light like
my name 'Noor'.
Music, Genre
The music I pursue is the same as the meaning of my name. I want to play the
music that conveys bright hope and light to people. Especially, I love Korean indie
band music, and I have a hobby of playing electric guitar. I want to do band
music that reflects my taste and vibe. The most important thing at this time is the
sound of electric guitar such as sparkling water. Also, I want to write lyrical and
literary lyrics that can move people's hearts.
LOGO
I made three logos to match the name that means today's light. I wrote the
band's name with the same color as the blue tattoo on my body. I hope that
every day's light is a hopeful and refreshing light that shines blue. Also, I
expressed hopeful elements such as the sun rising every day, flowers that bloom
in spring, and the blue bird with illustration.
Merchandise Items
*Sweatshirts
*Eco Bags
*Stickers
2) Merk Wijzer – Lush
©
BTM
2020
MERK-WIJZER
PRIMAIRE
DOELGROEP
Merkessentie
Merkbelofte
Merkpersoonlijkheid
Merkwaarden
Merkmissie
Merkvisie
MENTALE
MERKIDENTITEIT
VISUELE
MERKIDENTITEIT
VISUELE
MERKIDENTITEIT
Zien
Voelen
Horen
Tone-of-voice
Iconen
Proeven
Ruiken
We
believe⋯
Brand
Vision
Brand
Mission
Brand
Values
Brand
Personality
Brand
Promise
Brand
Core
<Lush’s
6
Core
Brand
Values>
Freshest
Cosmetics,
100
Percent
Vegetarian,
Ethical
Buying,
Handmade
Naked,
Fighting
Animal
Testing
Fresh
ingredients,
Fresh
handmade
cosmetics
creative,
fun
and
honest,
responsible
and
cares
about
environment.
Happy
people
making
happy
soap,
putting
our
faces
on
our
products
and
making
our
mums
proud.
Freshest
Cosmetics.
100
Percent
Vegetarian
(No
animal
experiment).
Ethical
Buying.
Handmade.
Smell
Language
Icons
Taste
Hear
Feel
See
Primary
Target
Group
Visual
Identity
Brand
Identity
Visual
Identity
young,
professional
women
ages
20-35
who
desire
eco-friendly
products
Eco-friendly
fonts,
Simple
package
Feel
free
to
experience
the
product
friendly
staff’s
explanation
You
can
smell
it
with
minimal
packaging.
Multilingual
(Global
Company)
Brand-only
fonts,
bath
bombs,
mask
packs,
etc
3) The greatest movie ever sold
- What’s the goal of the research done in this documentary?
Spurlock aims to finance for the production through corporate
sponsorships and advertising. In the film, he meets many corporates,
negotiates with them, and place their brands and products into the film.
Spurlock also interviews advertising executives and industry experts.
Through the Research conducted in this process, they explore the ethical
problems and effects of advertising, the scope of freedom, etc.
- What is the maker of the documentary trying to achieve?
The maker of the documentary is trying to explain about awareness
about the role of advertising in the media. It makes audience think about
the reality of marketing and the content we consume.
- What’s the role of brand personality in this documentary?
Brand personality refers to a set of human characteristics associated with
a brand. In the documentary, Spurlock shows how brand personality is
integrated into the documentary itself. Brand personality is an important
aspect of advertising and product placement. It helps to differentiate a
brand from other competitive brands.
- What are the main concerns of the brands in regard to branding the
movie?
In the film, Brands expect marketing effect from the film, but brands are
concerned about whether they can maintain their brand image and
reputation. So they want to make sure that the context and plot of the film
are related to the brand. They want to convey the brand’s identity in a
meaningful way.
- What do you think? Is there truth in advertising?
Through the movie, I became more critical of advertising. The essence of
advertising is money. It is for commercial purposes.
Also, the film made me think about freedom of creative. I thought
advertising should be based on facts, but now I don't think everything can
be true because of the feature of the industry. Of course, there are some
of the truths, but you should not believe everything in the ad is completely
true. We need to think more critically when we consume.
4) POP’s, POD’s / Attributes, Benefits, Values, Brand Extension

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[무신사 MUSINSA] STRATEGIC BRAND EXPORT REPORT

  • 1. Brand Management&Product Marketing / Gyeongmin Kim (5052114) STRATEGIC BRAND EXPORT REPORT ‘MUSINSA’ 1. INTRODUCTION Why did I choose this brand? The differences between European and Korean fashion 2. A DESCRIPTION OF THE COMPANY Basic Information, History, Legal Form, Mission and Vision of the Company, Financial Results of The Past Years, Future Forecast 3. A DESCRIPTION OF THE BRAND Brand Elements, Brand Awareness, Brand Knowledge, Attitude towards the Brand, Loyalty towards the Brand, The Brand Value, Marketing Mix 4. BRAND IMAGE STUDY (INTERVIEW) Finding the brand’s values and associations in the minds of the domestic consumer 5. DESK RESEARCH THE FOREIGN MARKET - EUROPE Think about cultural differences by using the Hofstede model for Cultural Difference
  • 2. 6. CONCLUSION – ADVICE TO EXPORT TO EUROPE Successful export in terms of brand name, distribution, advertising, etc. 7. APPENDIX
  • 3. 1. INTRODUCTION “Why did I choose this brand?” MUSINSA is the largest online fashion commerce and Platform in Korea. It handles a variety of fashion products, ranging from clothing to bags and accessories. Now, the age range of consumers has also gradually widened, making it a brand that any Korean interested in fashion knows. It has already been 6 months since I came to the Netherlands for the exchange student program, and I have traveled to 10 countries in Europe in a period of 6 months. Living in Europe, it was very interesting to observe the fashion of European people. In this process, I found some clear differences between European and Korean Fashion. First, it is the difference between European fashion trends and Korean fashion trends. I think European people pursue individual fashion that suits their own style. For example, vivid-colored tight dresses seem to be popular among women seeking glamour, and cargo pants have been a hit for women seeking hip and casual mood. Therefore, even if there is a trend in fashion, the style is very wide, and the branches of the trend seem to spread thin and diverse. On the other hand, in the case of Korea, the trend is very fast, and the range of fashion is narrow. This is because the country is small, but the population density is high, and the trend is spread to the entire public quickly through K-pop idols or influencers. For this reason, Korean fashion has the characteristic that certain fashion style is
  • 4. mainly popularized. I think it can be both a disadvantage and an advantage. As the trend is fast, unique and new items continue to appear, and if one item becomes popular, many brands release the item with their brand personality, so Koreans have a wide range of choices. The pictures below show Balaclava, which was a boom among Korean last winter. If you search for Balaclava on the MUSINSA site, you can find countless different brands items. Second, Europeans are more interested in Asian culture than I thought. Many people wear clothes with Korean and Japanese words or clothes with symbolic elements of the Asia such as dragon, ramen, and mountain of the East. They even get tattoos with things related to Asian culture. Europeans tent to think of the elements that symbolize Asia as aesthetically beautiful and fashionable. Based on these two ideas, I thought it would be incredibly successful to export MUSINA, the youngest and trendiest fashion brand, to the European market. In particular, Korea is a country that opens the door to the Asian fashion market. Korean fashion is recognized so much that it can represent Asian fashion. Claudia D'Arpizio, senior partner and global head of fashion & luxury at Bain & company, said the country is confirmed to be a small but very dynamic market by all analysts (di Federica Camurati, 2022).
  • 5. 2. A DESCRIPTION OF THE COMPANY MUSINSA as a company MUSINSA operates as a fashion commerce company. It was founded in 2001 and is based in Seoul, South Korea. The company provides an online shopping mall, a fashion magazine, and online promotion services. We should remember that MUSINSA is not just an ordinary online e-commerce company. The company continues to expand its reach by operating ‘MUSINSA Store’, which houses more than 5,000 brands, including street, global luxury, and design items, ‘MUSINSA Magazine’, a fashion magazine that delivers the latest fashion trends and information, ‘MUSINSA Standard’, its own modern basic casual wear brand, and ‘WUSINSA’ for women. Let’s look at the history of MUSINSA, which continues to expand its scope with contents and communities. History of MUSINSA company Below is the history of the company. - 2001: Sneakers online community ‘MUSINSA’ - 2003: Online fashion community ‘MUSINSA.com’ established - 2005: Online fashion webzine ‘MUSINSA Magazine’ published - 2009: Online fashion store ‘MUSINSA STORE’ service launched - 2016: Women’s fashion brand Store ‘WUSINSA’ service launched - 2018: A fashion sharing office ‘MUSINSA STUDIO’ opened - 2019: Fashion and culture complex ‘MUSINSA TERRACE’ opened - 2020: Limited Edition store ‘SOLD OUT’
  • 6. The company’s growth story shows how passion and interest are important to company’s success. In 2001, Cho Man-ho, a senior high school student, opened an online community called ‘MUSINSA’ to collect photos of his favorite shoes (Jihye Min,2020). ‘MUSINSA’ is a shortened version of “A place with many shoes photos” in Korean. In this community, sneakerheads shared their opinions and information on limited editions, and reproduced the sneaker culture. In 2003, MUSINSA.com scaled to be go-to online fashion portal beyond sneakers, and soon became a mecca of Korean street fashion and culture. In 2005, it started operating MUSINSA Magazine, a fashion magazine that delivers the latest fashion trends and information. MUSINSA Magazine quickly emerged as a leading media for fashion news including interviews with designers and creators, brand showcase reports, and product releases. It is a channel for MUSINSA original contents such as brand pictorials, street fashion looks, and styling suggestions (official website ‘About Musinsa’, https://about.musinsa.com/en) In 2009, MUSINSA became an online select shop exclusively for authentic designer brands. MUSINSA Store, an online fashion & lifestyle store, offers trendy design products that are not available in offline stores. MUSINSA, A kind of select shop, launched its own clothing brand in 2017. MUSINSA's
  • 7. own brand, MUSINSA Standard, aims to provide quality products at the best price. In particular, the brand has begun to be recognized by consumers for its high-end slacks and blazer jackets. In 2020, MUSINSA also challenged a new field of business. They launched ‘Sold Out’, a re-commerce platform that allows consumers to share and resell each other's fashion items. In addition, the company did not stop expanding its field by launching various new platforms such as multi-store ‘Lazy Night’ for women. Legal Form MUSINSA, founded by Cho Man-ho in 2001, is headquartered in Asia- Pacific (APAC), and its current CEO is Han Moon-il. The legal name is MUSINSA Co.,Ltd. The last funding type was venture (Series Unknown), and the company type is for profit. Mission and Vision of MUSINSA company When you do fashion, do it with MUSINSA. MUSINSA aims to empower brands and customers’ lifestyle by using their platform to design, create, enjoy, and interact with fashion. They have been pioneering a new market for designers to create new fashion brands and to spread their stories globally. Their mission can be that brand success is OUR success. They tell stories of their brand partners’ core value in an exceptional and captivating way through their original contents.
  • 8. Financial results of the past years In 2021, MUSINSA has achieved record high growth, exceeded 90% growth when compared to 2020. the total sales of online fashion platforms operated by MUSINSA recorded 2.3 trillion KRW (roughly $1.860 billion USD). This remarkable growth marks that MUSINSA opened the new era of Online Fashion Platforms in Korea. Customer activation indicators also rose overall. MUSINSA had 4 million monthly active users (MAU) in 2021. The platform has seen a roughly 30% increase in the past year and has surpassed 10 million members (MUSINSA Newsroom, 2022). The company’s future forecast According to the MUSINSA Newsroom, Increasing the sales of domestic brands that have gained popularity mainly among teenagers and 20s has played an important role in MUSINSA's growth. Therefore, MUSINSA plans to expand its target market and category by new fashion services for
  • 9. children and women between the ages of 35 and 45. In addition, as the domestic luxury brand, golf, and beauty market continues to grow, It is expected that if MUSINSA strengthens its expertise and enhances service competitiveness by expanding brand recruitment suitable for various target markets, it will be able to produce good financial results.
  • 10. 3. A DESCRIPTION OF THE BRAND Analysing MUSINSA as a Brand Brand elements contribute to increasing brand awareness and creating and strengthening strong and unique brand associations. The brand elements include a name, slogans, symbols, color, logos, mascots, and website. When choosing elements for a brand, they should meet a combination of the follow 6 aspects: memorability, meaningfulness, likeability, transferability, adaptability, and protectability. (Richard Slade. 2018). Based on these six criteria, I will examine the brand elements that establish MUSINSA’s unique brand identity and analyze MUSINSA in detail. The name of MUSINSA is an abbreviation of Korean word for ‘A place with many shoes photos.’ For Koreans who don’t know the brand’s story, the name can sound very ridiculous and unique. Because in general, in Korea, ‘MU’ means ‘nothing’ and ‘SINSA’ means a gentleman. Because of this absurd combination, MUSINSA’s name is very memorable, and it is difficult to find similar names, so it has very high legal protection. However, in your case of knowing the brand’s behind story, don’t you think this name has meaningfulness as well? In addition, the name is easy to pronounce and write to foreigners, so it has high transferability, and it is also flexible to apply depending on the target market., such as transforming into ‘WUSINSA’.
  • 11. The slogan created based on the brand name exploded the brand’s awareness of domestic consumers. The slogan ‘Da MUSINSA rang hae’ can be interpreted in two ways. (1) Do everything with MUSINSA = Buy clothes through MUSINSA. (This meaning is consistent with the company’s vision of ‘When you do fashion, be with MUSINSA’) (2) You all love MUSINSA. MUSINSA’s campaign with this witty slogan contributed greatly to brand awareness. In fact, according to the open survey “MZ Generation Fashion App Trend Report 2022”, MUSINSA was selected as the fashion platform with the highest awareness and experience in using it (Young ah Lee, 2022). This result shows that MUSINSA has a very high brand awareness and high consumer experience. Also, as the brand slogan states, MUSINSA has developed and expanded to encompass all fields related to fashion. What the brand considered important as it expanded is the community and own contents. When MUSINSA existed as a fashion community in the beginning, the founder thought it needed to differentiate itself from other fashion communities, so he started his own unique content, ‘Street Snap’. Street Snap is a content that MUSINSA’s reporter walks around the street and takes pictures of fashionable people. Street Snap allowed users to feel like members of the community, not just consumers. And even it allowed the brand’s fandom to be formed. In addition, the brand has transformed from a community to a media content company by releasing ‘MUSINSA Magazine’. By adding content to the community, members frequently visited the site and increased their stay time on the site. As such, MUSINS promoted their brand value through various contents such as Street Snap and MUSINSA Magazine and secured loyal customers. In fact, according to the results of
  • 12. the 2019 Open Survey, when asked why they use MUSINSA, 65% of the respondents answered ‘to see new trends’ and 48% answered ‘to habitually access it without any special reason’(Jaewoong Jang, SeungHoon Lee, 2021). In this way, MUSINSA created a reason to steadily access MUSINSA through the contents and formed a strong fandom. MUSINSA Store, an online editing shop that adds the function of commerce, is also suitable for explaining the main value of the brand. MUSINSA Store is an online store that collects domestic designer brands, which is also composed mainly of contents and community functions. The website’s first screen is filled with functions with strong community features such as content and ranking, not products or advertisements. This is completely different from other fashion platforms. MUSINSA’s Marketing Mix (4Ps) The Marketing Mix is first formally conceptualized in 1960 by E. Jerome McCarthy (Coursera, 2023), which helps to balance the overall organization of marketing strategies. Marketing Mix 4Ps consists of product, price, place and promotion. Let’s analyze MUSINSA’s Marketing Mix. 1) Product MUSINSA’s Product is a platform with numerous brands. MUSINSA conducts marketing collaboration, infrastructure provision, and funding
  • 13. activities so that brands can stably develop their brands. MUSINSA also has its own brand, ‘MUSINSA Standard’. MUSINSA Standard makes high-quality clothes that are good to wear every day. 2) Price Price varies widely from brand to brand in MUSINSA Store, but the quality of products is guaranteed considering that most of brands are domestic designer brands. Therefore, consumers can trust and purchase even if it is an expensive product. Also, since promotions such as free delivery and coupon promotion are frequently held, most of products are generally reasonable compared to other commerce shops. 3) Place MUSINSA is an e-commerce company, so you can access it through an online app or website. In 2019, MUSINSA Terrace, a fashion and cultural complex, was opened. Considering that they are customers in their 10s and 20s, who are the main users, they chose the youngest and trendy Hongdae area. At MUSINSA Terrace, people can enjoy a variety of brand experiences such as shopping, food, relaxation, and exhibitions. 4) Promotion MUSINSA is very active in marketing activities in a wide variety of media, including TV, YouTube, SNS, and outdoor advertisements, etc. Also, MUSINSA is conducting various promotions such as collaboration events with other brands, participatory events, and discount events held in the app.
  • 14. 4. BRAND IMAGE STUDY (INTERVIEW) Finding the brand’s values and associations in the minds of the domestic consumer I had a brief interview with 5 Koreans in their 20s about the brand MUSINSA. This interview was conducted to find the brand value and association in the minds of domestic consumers. When I asked what was associated with the brand MUSINSA, could get various answers. Various answers were divided into 3 categories: service, product, and image. The answers in the yellow box are common answers from many people. In terms of service, there was a positive evaluation that it is a good platform because it was easy to find various brands and search for popular trendy fashion items through ranking service. It was also reminiscent of a snapshot service where ordinary people can upload their fashion photos and follow each other. In terms of product, graphic T-shirs and hooded T-shirs were easily recalled, and MUSINSA-like black slacks were also mentioned.
  • 15. Interestingly, the answers on the image were a little contradictory. There were respondents who make positive estimation as a young, trendy, and cool style. They called it the ‘MUSINSA Style’. It’s amazing that ‘MUSINSA Style’ can be created even though it’s just a platform that brings together various brands. On the other hand, some respondents negatively evaluated this ‘MUSINSA Style’. They said kind of ‘MUSINSA Style’ is uniform, lacks individuality, and is a common fashion style that the public likes. One of them even evaluated that the fashion of Koreans in their 20s is similar, calling it a clone look. Through this interview, I was able to discover the characteristics of Korean fashion that Koreans see. Koreans are very interested in fashion and spend a lot on fashion, but they seem to value popularity rather than individuality. They prefer trendy and generally cool fashion to eye-catching, intense, and manic fashion. I think this is what happened when domestic brands grew, and many people consumed and wore them. Simply, it means that Korean fashion is gradually growing. There is also a negative view of extreme trends, but this is a growth process to go to a higher level. In fact, foreigners who visit Korea evaluate that the average style of Koreans is very high. I think this is proof that Korean fashion is becoming more leveled.
  • 16. 5. DESK-RESEARCH THE FOREIGN MARKET - EUROPE Think about cultural differences by using the Hofstede model Hofstede’s Cultural Dimensions Theory is a framework for cross-cultural communication, developed by Geert Hofstede who is the famous Dutch social psychologist. It explains the effects of a society’s culture on the values of its members, and how these values relate to people’s behavior (Hofstede, G., 2003). Geert Hofstede summarized the results of the occurrence of cultural differences into power distance, individualism, masculinity, uncertainty avoidance, long term orientation, and indulgence. Desk research on European countries will be needed to export MUSINSA to Europe. Therefore, the gap between the Netherlands, United Kingdom, and Korea, which are representative European countries, was examined through Hofstede insights site. Cultural comparison through theses 3 countries is only intended to find approximate differences, and it is difficult to generalize all European countries based on this result. For more accurate comparison, further research and verification will be required for this experiment.
  • 17. When looking at the graph comparing the three countries, the aspect of individualism stands out the most. Korea’s individualism is seriously low compared to the Netherlands and United Kingdom. The individualism is an index that indicates how independent an individual acts from a group. If this index is low, it can be interpreted that people are highly interested in how they look in society. Korea’s result for individualism is related to Korea’s pursuit of popular fashion. Even in the case of Korea, uncertainty avoidance and long-term orientation are higher than two countries, and the Indulgence is lower. From these results, it is understood that Korean social culture pursues something very conservative and stable. On the other hand, in the case of European countries, there are differences between two countries, Individualism is much higher than in Korea. It is understood that individual achievements take precedence over group achievements in Europe. Also, it can be understood that they value individual freedom, independence, and identity more than Korea.
  • 18. 6. CONCLUSION Advice to export to Europe Through a brand image study, I investigated the image of domestic consumers about the brand MUSINSA and identified the cultural characteristics of the European market using the Hofstede’s model. Based on these two studies, I came up with some considerations and effective marketing strategies when entering the European market. 1) Unique positioning: Worldwide online fashion platform featuring the face of Asia What would be MUSINSA’s competitive brands when entering Europe? I thought of some online fashion integration platform that is widely used around the world, such as CIDER, ASOS, and SHEIN. They are good for searching for all fashion items on one site and receiving delivery anywhere in the world. Then, what can be MUSINSA’s unique selling point that distinguishes it from the brands? The answer is that MUSINSA is “Korea’s trendiest fashion platform”. Therefore, I suggest positioning it as the trendiest Asian fashion platform. For this, first, the name of brand must remain the same as the current name. Because the name of MUSINSA has a unique Asian nuance that is different from the existing foreign brands. Second, Brand models and product models on the product details page should be used as Asians. Attractive Asian models will be good for European attention and will be able to establish a unique brand image. (Unfortunately, more than 80% of MUSINSA's Korean sites use foreign models.) At this moment, the target consumers should be people who
  • 19. have a positively perception of Asian culture and a clear identity for fashion. Finally, in terms of quality, it is necessary to ensure high quality unlike existing online fashion platform brands. SHEIN and CIDER are gaining a lot of popularity at low prices, but brand satisfaction is not high due to bad quality and long delivery periods. Both are from China. In order to eliminate prejudice against Asian brands in the mass market, MUSINSA must maintain its good quality, even if the price is a little high. For that, it is necessary to enter a high-quality design brand rather than pursuing a low price. 2. Algorithm service to recommend I suggest using a recommendation algorithm service rather than a popular product ranking service. As the result of cultural differences shows, Korea's individualism is very low. Koreans like to keep up with rankings or trends because the opinions of the public or the majority are important for them, and they are fashion-conscious. However, in the case of Europe,
  • 20. where individuality is important, If the app recommends products according to the ranking, the brand preference will reduce. Therefore, I propose to introduce an algorithm service that recommends products and brands based on users’ fashion photos. Users will upload 5 to 10 fashion photos that represent themselves when they first sign up and use the app. The algorithm service further subdivides and recommends their fashion style based on photos uploaded by users. It will also be interesting for users to recommend a new brand that suits their style. In addition, It will provide an interesting opportunity to experience various Korean design brands and enjoy shopping. 3. Promoting partner brands using MUSINSA’s competitive content MUSINSA is also in charge of producing contents for brands that have entered MUSINSA. They are continuously working to promote the brands, Including MUSINSA Magazine and MUSINSA Store. MUSINSA’s the most important value is to deliver the partner brands’ core values in an exceptional and fascinating way through their original content. MUSINSA must not lose the important brand value, ‘content'. Therefore, I propose to implement marketing that focuses on content, which is the competitiveness of the brand. For this, First, it produces a lookbook and coordination map that combines trendy fashion items that are popular in Korea. The produced lookbook and coordination map are advertised through SNS such as Instagram. Trendy design brand products will be effective in attracting early users and in promoting MUSINSA’s entry brands. Second, it will hold a MUSINSA Showcase on its online website to promote MUSINSA’s entry brands. It is to create the experience of the
  • 21. showcase in the offline space as online content. Users can experience visual and auditory pleasure online, among the features of offline. MUSINSA Showcase offers this experience in that it expresses the brand's identity, value, collection, and items with stylish visuals and music. 4. Marketing strategy with distribution MUSINSA needs to promote the brand by saying that the delivery fee is always free. Or it will be important to specify the shipping cost accurately. In the case of international shipping, consumers feel burdened with shopping costs. All products of MUSINSA in Korea are free of delivery costs. Even though it is an international delivery site, if it offers such a benefit, it will be a big competitive advantage for the brand. Furthermore, the brand can plan an offline pop-up store to expand customer contact points by identifying the consumption culture by country as well. Based on brand image study and cultural characteristics of the European market, I came up with 4 effective marketing strategies and considerations to enter the European market. I am looking forward to exporting MUSINSA to Europe, allowing people who are positive about Asian fashion culture to approach trendy high-quality Korean fashion brands. Also, people who don’t have a particular view of Asian fashion will be able to have a positive image of that through MUSINSA. And this will also be linked to a rise in brand sales. MUSINSA will serve as a role for young Korean designers to enter the world stage, which will be a good opportunity for many Korean fashion brands to become known to the global market. The borders of fashion are being torn down. I look forward to MUSINSA leading the globalization of K-fashion.
  • 22. About Musinsa. Our Story. https://about.musinsa.com/en Coursera (2023). The 4Ps of Marketing: What They Are and How to Use Them. https://www.coursera.org/articles/4-ps-of-marketing di Federica Camurati. (2022). Korea leads the way for Asia. MF fashion. https://www.mffashion.com/news/korea-leads-the-way-for-asia- 202209061023205786 MUSINSA Newsroom. (2022). MUSINSA Opens the Era of Online Fashion Platforms in the Republic of Korea with Extraordinary Sales of Over Two Trillion KRW (Roughly $1.617 Billion USD). https://about.musinsa.com/newsroom/2022-0113-gmv Hofstede, G. (2003). Cultural dimensions. www.geert-hofstede.com. Jaewoong Jang, SeungHoon Lee (2021). DBR Case Study: Unicorn Company MUSINSA’s Growth Strategy. https://dbr.donga.com/article/view/1202/article_no/10189 Jihye Min. (2020). Starting with the “A place with many shoes photos” community… It’s now a fashion platform with a trillion won deal. Hankyung Economy. https://www.hankyung.com/economy/article/2020101676381 Richard Slade. (2018). What makes a Strong Brand?. BrandRefinery. https://www.brandrefinery.co.uk/what-makes-a-strong-brand/ Youngah Lee (2022). 6 out of 10 people in the MZ generation choose ‘MUSINSA’. https://www.techm.kr/news/articleView.html?idxno=96706
  • 23. 7. APPENDIX 1) Brand Yourself Today’s Light, NOOR My name is Gyeongmin. I have a name that is very difficult to pronounce for foreigners. Not only that, but It’s also very difficult to remember. No foreigners remember my name at once. As you did... 🤣 I always had a craving to have an English name, but as a Korean, it was very awkward and embarrassing to make English name to myself. So, I just introduced myself as my family name, Kim. However, I'm not called Kim in Korea, so this caused to be confused about my identity. I went on a trip alone to Morocco, Africa, during the spring break. This trip presented me with a shining name. I remember the dawn when I lay on a blanket in the Sahara Desert and looked at the countless stars. A friend I met in Merzouga, Morocco, treated me with all his heart. However, As expected, he couldn't remember my name, and he wondered what it means. My name, Gyeongmin, means shining jade stone. I explained the meaning of my name to him, and he presented me with the name Nora, or Noor, which means shining in Arabic. The name I received as a gift under the pouring shooting star felt so precious to me. I felt really new and mysterious. It even connects to my life motto, The Beatles' music 'here comes the sun'. My motto means that even if it's been a long, cold, and lonely winter, it's all right because the new sun will rise again soon. We live a different day every day, and tomorrow will be a new light. I'm a futuristic person who doesn't get discouraged and expects a new light like my name 'Noor'.
  • 24. Music, Genre The music I pursue is the same as the meaning of my name. I want to play the music that conveys bright hope and light to people. Especially, I love Korean indie band music, and I have a hobby of playing electric guitar. I want to do band music that reflects my taste and vibe. The most important thing at this time is the sound of electric guitar such as sparkling water. Also, I want to write lyrical and literary lyrics that can move people's hearts. LOGO I made three logos to match the name that means today's light. I wrote the band's name with the same color as the blue tattoo on my body. I hope that every day's light is a hopeful and refreshing light that shines blue. Also, I expressed hopeful elements such as the sun rising every day, flowers that bloom in spring, and the blue bird with illustration.
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  • 30. 2) Merk Wijzer – Lush © BTM 2020 MERK-WIJZER PRIMAIRE DOELGROEP Merkessentie Merkbelofte Merkpersoonlijkheid Merkwaarden Merkmissie Merkvisie MENTALE MERKIDENTITEIT VISUELE MERKIDENTITEIT VISUELE MERKIDENTITEIT Zien Voelen Horen Tone-of-voice Iconen Proeven Ruiken We believe⋯ Brand Vision Brand Mission Brand Values Brand Personality Brand Promise Brand Core <Lush’s 6 Core Brand Values> Freshest Cosmetics, 100 Percent Vegetarian, Ethical Buying, Handmade Naked, Fighting Animal Testing Fresh ingredients, Fresh handmade cosmetics creative, fun and honest, responsible and cares about environment. Happy people making happy soap, putting our faces on our products and making our mums proud. Freshest Cosmetics. 100 Percent Vegetarian (No animal experiment). Ethical Buying. Handmade. Smell Language Icons Taste Hear Feel See Primary Target Group Visual Identity Brand Identity Visual Identity young, professional women ages 20-35 who desire eco-friendly products Eco-friendly fonts, Simple package Feel free to experience the product friendly staff’s explanation You can smell it with minimal packaging. Multilingual (Global Company) Brand-only fonts, bath bombs, mask packs, etc
  • 31. 3) The greatest movie ever sold - What’s the goal of the research done in this documentary? Spurlock aims to finance for the production through corporate sponsorships and advertising. In the film, he meets many corporates, negotiates with them, and place their brands and products into the film. Spurlock also interviews advertising executives and industry experts. Through the Research conducted in this process, they explore the ethical problems and effects of advertising, the scope of freedom, etc. - What is the maker of the documentary trying to achieve? The maker of the documentary is trying to explain about awareness about the role of advertising in the media. It makes audience think about the reality of marketing and the content we consume. - What’s the role of brand personality in this documentary? Brand personality refers to a set of human characteristics associated with a brand. In the documentary, Spurlock shows how brand personality is integrated into the documentary itself. Brand personality is an important aspect of advertising and product placement. It helps to differentiate a brand from other competitive brands. - What are the main concerns of the brands in regard to branding the movie? In the film, Brands expect marketing effect from the film, but brands are concerned about whether they can maintain their brand image and reputation. So they want to make sure that the context and plot of the film
  • 32. are related to the brand. They want to convey the brand’s identity in a meaningful way. - What do you think? Is there truth in advertising? Through the movie, I became more critical of advertising. The essence of advertising is money. It is for commercial purposes. Also, the film made me think about freedom of creative. I thought advertising should be based on facts, but now I don't think everything can be true because of the feature of the industry. Of course, there are some of the truths, but you should not believe everything in the ad is completely true. We need to think more critically when we consume.
  • 33. 4) POP’s, POD’s / Attributes, Benefits, Values, Brand Extension