Brand Strategies Overview

Brand Strategies Overview

Fashion Brand Management Map

Consumers

Products

Strategies

Today's Focus

Course Objectives

Omni-Channel

Metrics (KPI)

Digital

Physical

Distinctive Elements

Consistency

Experiences

Symbolism

Controlled by the Brand

NOT controlled by the Brand

Channel Strategy:

Essential components for Branding through Channels

Potential Channels

Strategies

Market Research

Core Messaging

Attendance/Look Ahead

Assignment Desc.

Channels

Derived from the same root word as 'canal'

Channels

Social MediaSEO and PPC

EventsAR/VR

In-StoreE-commerce

PrintAudio/Visual

• Builds Awareness
• Brand control

• Generates profit
• Consumer control

• Offers uniqueness
• Balanced control

• Seamless
• Balanced Control

Digital

Physical/Traditional

Direct Sales

Experiential

Potential KPI

Don't worry, we dive deeper into these Next Class

Porter's Competitive Strategies

Strategies to achieve competitive advantage

Focus

Tailored to serve a specific group/segment

Cost Leadership

Provide the lowest possible cost

Differentiation

Provides uniqueness, meeting needs by filling a gap

Cost + Differentiation Wide selection at a low cost (ex. Walmart, Target)

Stuck in the Middle (Literally what it's called) When you're trying to do everything, you're doing nothing well

Focused Cost Leadership Provide lowest cost in a segment rather than a market

Focused Differentiation Also called "niche marketing"

Sharp'sGrowth Strategies

Customer Acquisition Over Retention

Loyalty programs, focusing on return purchasers, and ignoring expansion lead to lost mental and physical availability

Increase Mental Availability

Build Brand Awareness AND Brand Image to generate Brand Salience

Increase Physical Availability

Make it easy for the consumer to access (therefore purchase) the product

Distinctive Brand Assets

Ensure the Brand is recognizable and memorable

Challenge

03:00

1) Which channel is this? 2) Which Strategy is highlighted?

Savage x Fenty lingerie show

Challenge

03:00

1) Which channel is this? 2) Which Strategy is highlighted?

Patagonia's "Don't buy this jacket"

Challenge

03:00

1) Which channel is this? 2) Which Strategy is highlighted?

Gucci Virtual Try-on

Positioningand Competitor Analysis

Looking at competitors to understand optimal channels and gaps

Core Message

Enables a consistent identity across channels

Bad Examples

Good Examples

The message should be Clear, answer what is Unique and Valuable, and appeal to the Emotions of the consumer to communicate brand identity and build brand image

Communicating to Consumers

Channel

Message

Strategy

Omnichannel Marketing

Integrated & ConsistentOmni = All

Channel Strategy

This assignment provides the opportunity to explore and plan to implement one or more branding strategies that produce effective brand communication. When you have completed the activity, you will understand how to develop a channel strategy that builds brand equity.

Purpose

This will be a component of your final project if you are hired as Digital Marketing Manager. Your submission may be used by the Brand Manager to determine their team if you score high enough COL points.

Final Project Component

Anticipate Omnichannel requirements!

Looking Ahead

• Revisit/drill down on Metrics and measuring success
• Byron, Porter, and more

KPI - Next Class

• Segments vs. Worldviews
• Prep for Customer Journey Map (overlaps Channel concepts)

Consumers - Next Thursday

• Possible innovations
• Product Category Innovation defined

Products (pt 1) - Following Tuesday

All before Channel Strategy is due

KPI (Key Performance Indicators)

• Media Impressions (publicity quality)
• Audience Engagement (KPI from other channels! ex. Reach + Frequency)
• ROI (was this worth it? sales lift - $ spent)

Return on Investment

Course Objectives

• Identify basic terminologies and concepts in fashion branding and marketing
• Explain the importance of brand experience in establishing brand equity and salience
• Comprehend different types of brand strategies and their key benefits and costs
• Identify the characteristics of highly effective brand communication
• Explore the future of digital brand communication in the light of constant changes in the retail environment
• Develop a successful fashion brand omnichannel launch strategy designed to enhance sales and profits

KPI (Key Performance Indicators)

• Sales Volume by SEGMENT (location, etc.)
• Sales Cycle (how long til a sale)
• ATV/AOV (average $ spent per purchase)

ATV - In-person, Transaction AOV - Digital, Order

KPI (Key Performance Indicators)

• Engagment rate (# like, comments, shares)
• Click-Through Rate/CTR (clicks ÷ views)
• Conversion Rate (% of sales from views)

KPI (Key Performance Indicators)

• Reach + Frequency (# people, how often)
• Response Rate (requires Call-to-Action)
• Sales Lift ($ increase after ad - expected sales)