Branding Strategy ChicCycle

Vision: Be the go-to-brand for pre-loved branded clothes and become the market leader in next 10 years.
Purpose: At ChicCycle, we plan to create a ecosystem in which fashion and sustainability can co-exist.
Values: Eco-friendly, Sustainable, Pocket Friendly and Classy.

Promise Brand Story
Assurance of quality of ChicCycle is inspired by the
the apparels that you daily struggles of the people
choose to buy/rent. who want to wear branded
clothes but can’t afford them
Brand Idea
Innovation Purchase Moment Experience
We are presenting an Our dedicated Customer The quality experienced by
option where they can rent Support and Delivery the buyer on his/her
or buy their favourite resolves concerns of users purchase.
branded clothes at fraction
of their original price.

Goals: Increase awareness, Demo via salespeople/media, increase use by the casual user, Expand the scope of use cases
Issues: How do we make our USP defendable against the competition? To stay in niche markets or expand product lines?
What methods to use to educate users about the service? How to ensure scalability and good growth rates?

Strategies: Build demand for pre- Defend against frugal Exploring Growth
loved clothes inventions Avenues

Promotion - Social Media/ Influencers 1. Flexible Pricing – Competitor 1. Explore international

Tactics: Advertisement- Where the masses are made markets and niches
based (developed markets)
aware of huge carbon footprints crated by 2. Market Research and 2. Innovate and improve on
apparel industry. Alertness to disruptions the product continuously
 Pricing of the Products Offered on ChicCycle
• As we are launching a new product capable of disrupting the lives of people who love fashion but can’t afford fashion to disrupt their budgets. The business objective behind the pricing of
the different services that we are off is to maximize the market penetration.
• As the purchase decision of any product is based on how consumers perceive the price of the product, we have to ensure that the price is above the lower threshold, below which the product
is perceived as a more inferior quality product, and below the upper threshold, above which the product becomes unaffordable
• Even though the market of pre-loved clothes is very new in India as compared to European Markets there is a huge potential which can be exploited. The number of players operating in this
market are few. Another positive factor which goes in our favor is the increasing demand in the customers for eco friendly product and services.
• A normal branded Zara Tshirt might cost around Rs.4000. However, we are planning to provide the same shirt at the reduced 40% price which can also ensure sufficient margin for our
business too.
• 7+ people were surveyed after explaining the services and its benefit to understand what they feel is a price cheap, very cheap, expensive, and very expensive for the product

Early Stage Pricing Mid and Late Life Pricing

• As this type of service is a new service and might not be willing to trust the business in
the early stage, it is necessary that initial prices are kept low so that more and more
people try our services. Our focus will be to keep the customer satisfied so that his/her
positive experience creates a ecosystem of trust.
• The customer is likely to compare the apparels with newly branded clothes as well as
the prices which our competitors are offering on their websites and try to find out how
much extra value our services provide them.
• We believe that the true economic value to the customer is very high with the
ChicCycle, as we ensure customers get what the expect in form of branded clothes
without getting worried about the costs.
• True economic value (TEV) = Cost of best alternative + Value of Performance
differential
• Additionally, it is easier for a firm to price a product higher and lower the value if the
sales volume is unsatisfactory. This is not true vice-versa
• Keeping the above pointers in mind, we will price our apparels at 60% of the new
apparel. Monitor the sales will be done to find out whether the customer response is
satisfactory or not. Customer feed back will be a must to find out what improvements can
be made in the pricing.
• When the products enter the maturity phase on the Product-Life Cycle curve,
we change our business objective of pricing to maximize long-term profits
• As the business gains a strong foothold in the market, we foresee the entry of
competitors with products similar to ours trying to undercut us with their lower
prices. Hence, we will frequently test the price of our product with respect to our
competitor’s price
• If we believe that the true economic value of our chair is higher than our
competitors, then we will not make any unnecessary changes to our price. If not,
we might start offering discounts on our product and price our product using the
experience curve (As we are the market leader), making it difficult for our
competitors to remain in the market
• During the decline phase of the existing service, we will start working on
incorporating new technologies like AR so that customers can see how they will
look without the need of even ordering first. These continuous innovations will
help both the customers and us. We will also expand to include products like pre-
bought sneakers and other fashion accessories to cater the ever growing need of
the populace.
CHICCYCLE
MARKETING
STRATEGY
DIKSHITA SARMA - b23128
PAKSHAJ BHARDWAJ - b23155
OJASVIN NAGPAL - b23032
ROHIT VIJAY KUMAR - b23144
 EXECUTIVE
SUMMARY Points of Difference
Affordability
Chic Cycle offers the same products you would find at some other e-commerce website

BUSINESS FLOWCHART
at half the price thus making them a good choice for middle class people.

Circular Economy
Sell We promote sustainability and circular economy where wastage of clothes is

• Snap and Upload reduced and sellers are not only able to clear their closet but also make money in
• Visit by Quality the process.
Executive
• Quality checks to be
performed Service of renting
• Instant payment High end luxury brands which are generally something which people can only dream
of are made a reality by us which helps people in looking their best on special
occasions like weddings or engagements.

Rent Refurbishing
Buy
• Flexibility to choose • Tailoring and Dry
rental period. cleaning services for • Curated selection of
• A refundable security rejuvenation pre-used branded
deposit is collected, • Items sent to clothing for sale.
which is returned upon decentralized warehouses • Entire amount of the
the safe return of the • Items listing product is charged.
item.
Our Value Proposition
Sustainability & Circular Economy
ChicCycle provides a platform for consumers to actively participate in
the circular economy by selling, buying, and renting pre-owned branded
clothing.
Affordability and Budget-Friendly Fashion
ChicCycle offers a curated selection of pre-owned branded clothing at
budget-friendly prices, allowing consumers to access mid to high-end
brands without a significant financial investment.
Convenience and Flexibility
Renting options come with flexibility, allowing consumers to choose
rental periods that align with the duration of their special events,
providing a hassle-free and commitment-free fashion solution.
Strengths
Wardrobe Space Management
For people who have an overburdened wardrobe and seeking space for their new fashionable clothes, our
business provides them a platform where they can declutter their space
Financial Benefits for Sellers
Users who have clothes that they no longer need, this service allows them to recoup some of the
money spent on those clothes
Convenience of Renting
The option to rent clothing for special occasions, such as wedding segments, provides an affordable
and sustainable alternative to purchasing expensive formal attire that might only be worn once.
Time Efficiency
In today's fast-paced world, convenience is highly valued. We cater to the needs of busy
professionals who can‘t afford last minute wedding shopping and bring all brands under one
umbrella
Environmental Sustainability
One of the most critical aspects of this service is its contribution to environmental sustainability. By
encouraging the reuse of clothing items, it reduces the demand for new clothing production.
Affordability
For buyers, this service provides access to branded clothing at a more affordable price point
compared to buying new items. It enables users to enjoy quality fashion without breaking the bank.
Customer
Journey
Mapping

Customer Activities See advertisements in Compare and evaluate RENT: Choose from May reach out for inquiries Making repeat Spread positive word of
offline and online places substitutes. Weigh our our Indian wear regarding size, quality, purchases; provide mouth
(Instagram, Facebook). brand offerings with section to rent renting period extension feedback
Hear from other people the competitors. clothing
BUY: Choose from our
pre loved branded
section of clothing to
buy
SELL: Clear branded
unused wardrobe by
selling to us

Business Goal Increase awareness and Stand out from our Increase conversion Expand presence of the Increase retention rate, Turn customers into
interest competitors through rate and online sales service; increase customer order value, frequency advocates
our innovative offering service satisfaction of orders. Make
customers up trade
Organizational Activities Create marketing Focus on Enhance customer Customer issue resolution, Implement customer Keep track of feedback
campaigns and content differentiating our experience by offer omnichannel support, feedback mechanisms on social media,
both online and offline brand offering from optimising online fast response by support like surveys, reviews incorporate customer
our competitors. ordering funnel, team and offer discount offers feedback into existing
Emphasize on the include live updates to frequent buyers business practices and
affordability and of delivery, update AI products
sustainability factors ML to suggest
of our service. customers their type
of clothing

Responsible Teams Marketing & Marketing & Sales & Customer Customer Service, Logistics Marketing & Product Customer Service
Communications Communications Service & Distribution Development
KPIs Social media impressions CTR on online ads; Conversion rate; Participation in consumer Request purchase rate Frequency of
engagement metrics positive reviews and feedback surveys; Number engagement with
on social media (likes, ratings on our of complaints brand communications.
comments, shares) website and social Referral rates and new
platforms customer acquisition
through referrals
 Opportunity Assessment Fashion Market
Market Review What is it like?
The fashion market is diverse, catering to various consumer preferences. Traditional fast
The fashion industry is undergoing a profound transformation, driven fashion is facing challenges due to environmental concerns, creating a demand for
by shifting consumer attitudes and a heightened awareness of sustainable alternatives. Consumers are becoming more brand-conscious, seeking high-
sustainability. With Indian market apparel valued at 3.06 Trillion INR, quality products with a lower environmental footprint. Chic Cycle recognizes these
Chic Cycle is strategically positioned to capitalize on the growing market nuances and positions itself as a platform that not only meets but exceeds these
evolving expectations.
demand for eco-friendly and pre-owned fashion solutions. The
increasing trend towards conscious consumerism aligns seamlessly
Consumer Preferences Environmental Concerns
with Chic Cycle's mission, presenting a substantial market Rapid production cycles contribute to
67% consider the use of
opportunity. environmental harm through resource
sustainable materials to be an
important purchasing factor depletion and pollution.
An increasing number of Millennial and Gen Z consumers are selling
their second-hand clothes online. Recommerce and sustainable fashion
are very popular among young consumers and the industry picked up
Shifting Attitudes Brand Consciousness
on this trend as an opportunity to accelerate the adoption of a more
Consumers are rapidly embracing Rising trend of consumers prioritizing
sustainable business model.
sustainable fashion choices marking a ethical and quality brands, offering a
decisive shift towards eco-conscious curated selection of pre-owned fashion
trends in the industry. that aligns with their values
 Market Research (1/3)

I am aware that second-hand clothes or upcycled clothes I am aware that the cultivation of raw materials for
Sustainable clothing offers a unique style to me
made by using existing materials can be sustainable garments, such as cotton, can have a significant
choices environmental impact.

I feel good about contributing to the environment through

I believe that sustainable clothing is well-made and worth
I feel good when I purchase sustainable apparel the practice of sustainable clothing
the money
n = 384
 Market Research (2/3)

I believe that sustainable clothing helps in saving resources

In the future, I intend to purchase environmentally I would consider buying environmentally friendly apparel
sustainable apparel because it is less polluting

I am willing to pay more for clothing from environmentally When I have a choice between two similar clothing items, I
and/or socially responsible clothing brands I prefer to buy apparel that has environmentally friendly
prefer to purchase the one made from textile materials that are
labeling or packaging techniques
less harmful to the environment

n = 384
 USER PERSONAS
AGE 26
AGE 20 MARKETING PROFESSIONAL
COLLEGE GOING GIRL METRO CITY
TIER 2 CITY INCOME : 12 LPA
INCOME : DEPENDENT ON PARENTS FEATURE : SOCIAL PERSON
FEATURE :FASHION ENTHUSIAST
• Often has to attend wedding functions of friends an
• Is Passionate about fashion and loves experimenting with colleagues
different styles • Wants to wear exquisite clothes for all ceremonies
• Finds difficulty in managing expenses to afford branded but doesn’t want to repeat clothes in different
clothes frequently wedding functions
• Is always looking for ways to save money without • Doesn't have time for extensive shopping trips give
compromising on brand and style her tight schedule

AGE 38
AGE 25 DOCTOR
IT PROFESSIONAL METRO CITY
METRO CITY INCOME : 35 LPA
INCOME : 30 LPA FEATURE : HOARDER OF SURPLUS
FEATURE : ENVIRONMENT CONSCIOUS MAN, MINIMALIST CLOTHES
• Owns very limited number of clothes • Owns an overburdened wardrobe and is
• Believes in longitivity of clothes and recylcyling seeking space for new fashionable
• Wants to wear branded clothes but is conscious about his clothes.
carbon footprint • Doesn’t want to dispose off her precious
branded clothes
• Wants to shed off their used clothes to
declutter her closet while making money
and contributing to sustainability.
Phone
+91 8011089952

Our
Contact
Website & E-mail
https://b23032.wixsite.com/chiccycle