- Dr Tarun Panwar

Presentation Plan

Revisiting Fashion Uniqueness of Fashion Marketing Luxury Brand Systems Principles of Luxury Identity v/s Image Branding Strategies

Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening. Coco Chanel

UNDERSTANDING FASHION
FASHION is the currently prevailing
style well accepted by masses at a given point of time

the key question. Fashion

movements are evolutionary or revolutionary?

Nature of Fashion

Fashion movements are evolutionary in nature

Psychological Obsolescence A short life cycle (selling period) Long lead times High product variety, low volumes per SKU High demand uncertainty and variable demand high stock-out cost High inventory and obsolescence costs

Uniqueness of Marketing fashion

FASHION PRODUCTS : CHALLENGE

Long supply lead times Having too much product leads to markdowns/ discounts Having too little product leads to stockouts and lost opportunity

Leanings from Toy Industry

Mattel's business is subject to risks associated with the underproduction of popular toys and the overproduction of toys that do not match consumer demand. Mattel Annual Report

Marketing Fashion
PEOPLE NO LONGER BUY PRODUCTS TO KEEP THEM DRY AND WARM. They buy them because . The product can..make them feel:MASCULINE SPORTY RUGGED DIFFERENT GLAMOUROUS YOUNG SUCCESSFUL RICH SENSUAL

Our business now is selling excitement rather than products.

The consumers idea of a product - Ogilvy Perception of an experience offered by the product or service A promise that no other competing product provides Uniliver chairman, Niall Fitz Gerald says a BRAND is a storehouse of trust. That matters more and more as choices multiply. People want to simplify their lives.

Brand

Promise

User

Brand
Trust

Provider

How are Brands different from Products?

Products

Functional Concrete, Rational Describes What

Brands

Emotional/Functional Conceptual, Perceived Describes What & Who Unique, Distinct Unlimited life span Relationship oriented Cant be copied

Generic
Limited life span Transaction oriented

Easy to copy

A shirt

A Louis Philippe Shirt

Singularity of focus

Leadership
Own the category

Own a word

Consistency
Be consistent

Longevity
Withstand the test of time

Strong Brands

Perceived Quality

Advertising
Be refreshingly different

Vivid Imagery

Perceived Uniqueness

The Luxury Brand System

AURA

Griffe Luxury

Pure Creation, Unique Work, Materialized Perfection

Small Series, Workshop, Handmade Work, very fine craftsmanship Series, Factory, Highest Quality in the category
Mass series, Cost Pressure

Upper Range

The Brand

Principles Of Luxury Brand Management

Protect clients from non-clients.

Luxury brand awareness must be superior

to its penetration.

An object must always be up to par with its brand.

SENDING
BRAND IDENTITY

MEDIA

RECEIVING

SIGNALS TRANSMITTED

BRAND IMAGE

OTHER SOURCES OF INSPIRATION

MIMICRY OPPURTUNITY IDEALISM

COMPETITION AND NOISE

IDENTITY Vs IMAGE

PICTURE OF SENDER
PHYSIQUE PERSONALITY

E X T E R N A L I S A T I O N

RELATIONSHIP

CULTURE

REFLECTION

SELF IMAGE

I N T E R N A L A I S A T I O N

PICTURE OF RECIPIENT

BRAND IDENTITY PRISM

Brand Identity Prism

Branding Strategies
Product Brand Line Brand Range Brand Source Brand Endorsing Brand

Product Brand Strategy

Range Brand Strategy

Apparel

Footwear

Sports Equipments

Eyewear

Watches

Accessories

The Source Brand Strategy

Armani

The Endorsing Brand Strategy

Thank You for your time

The Line Brand Strategy

GAP Inc.

House of Brands

Branded House

Value Addition Process In Fashion Marketing

Type
Fantasy Haute couture

Retail Channel
Designer house Boutique Better independent store Specialty store Department store Mail order Mass merchandiser Department store

Price, fashion, value of timeliness

Fashion pret-e-porter Diffusion line

Style wear Contemporary classics

Basic updated

Budget store Discount store

Basic budget

Creating a winning Brand..

Brands : personifications of organizations, products, services and experiences, Profound customer knowledge- to delight the customers Top management support is crucial to a brands success. A brands identity must be frequently and consistently presented.

Brand building with relevant differentiation begins with awareness.

A brand should strive to evoke emotions and create sensory experiences.

The corporate culture must reinforce the brand essence, promise and personality.

Front line employees are key to a brands success.

Brand It! Now, More Than Ever!

The increasing difficulty in differentiating between products and the speed with which competitors take up innovations will assist in the rise and rise of the brand.
Gillian Law and Nick Grant, Management [New Zealand]

Scott Bedbury: Nike/Starbucks

A Great Brand taps into emotions. Emotions drive most, if not all, of our decisions. A brand reaches out with a powerful connecting experience. Its an emotional connecting point that transcends the product. A Great Brand is a story thats never completely told. A brand is a metaphorical story that connects with something very deep - a fundamental appreciation of mythology. Stories create the emotional context people need to locate themselves in a larger experience.

BRAND CUSTODIAN BLUEPRINT

MEDIA SPECIFICBRAND MEDIA NEUTRAL BRAND MANAGEMENT Corporate

MANAGEMENT

Product
BRAND DNA Brand Brand theme name Brand identity Service Retail site Packaging

Advertisement
Public relations

The above blueprint structures the process of developing new brand names, identities and experiences expressed through all media types.

Strong brands own a word in the minds of consumers. Say the word and the brand will pop out!
Spykar
Youth Culture

Levis
501 Jeans

United Colors of Benetton

Colors

Big Bazaar
Value for money

Nike
Just Do it!

Own a Word!

Armani
Niche