Lecture-Marketing strategies, research and frameworks

Lecture-Marketing strategies, research and frameworks

Connecting with the consumer
- Brands are out of touch with consumer needs
- Brands not in touch with current generational perspective
- Slow adoption of sustainable issues
- Brands who have done historically well with innovative advertising and marketing and then have dropped the ball recently
- Old school attitudes towards luxury for high end brands

How do consumers consume and connect with brands
- Advertising strategies
- Understanding their demographic
- Understanding emerging demographics
- Keeping and increasing footfall
- Understanding changing and emerging trends in consumption

Physical and digital branding advertising strategies
- Fast fashion online retailers; digital advertising resource via online, digital bill boarding and taxis
- Brands that rely on word of mouth as well as all of the above
- There are also brands that historically have not advertised heavily

Much has to do with visual communication
- The forums that demographics now link with
- What draws a consumer in and why
- What are the connectors
- Connection to visual information

More abstract methods of advertising
- Celebrity
- Guerrilla
- YouTube campaigns
- Subliminal advertising

How branding and marketing drive the fashion industry
- Connects to the consumer
- Drives price
- Drives and captures specific demographic
- Marketing incentives drive consumers
- Pushes consumption by selling product through a specific window of time
- Historically brand identity was king
- Brand attachment locked the consumer in via aspiration
- This is changing now with generational shifts; consumers no longer consume because a brand tells them who to be

Meeting the consumers needs

To meet consumers needs, you need to understand
- Who they are
- How to reach them
- Where they live
- Their age
- What they are prepared to pay
- Their likes and dislikes
- Their expectations
- If the production is desirable
- Brands need to research and gather data on their consumers to understand them

To understand the consumer; research is critical
- Qualitative; analysis of information
- Quantitative; statistics

Examining demographics and target markets
- Age
- Geographic location
- Sub cultures (who is wearing what and why)
- Earning/spending power: reflection of target price points

Micro analysis of marketing strategies
- Demographics
- Economics
- Social and cultures
- Political
- Technological

Brand mapping

Assessment of consumer perceptions of brand positioning using diagrams
- Prestige price
- Mass market
- Exclusivity
- Affordability

Investigating brands
- Auditing brands; investigating their current position in the market place

What can struggling brands change or improve to re-establish themselves

Connecting to consumer; do they need to consider their;
- Advertising strategies
- Their reputation
- How they connect to the consumer
- Their history; are they sitting back on past glories and still expect the consumer to consumer because of who the brand perceive themselves to be
- Brand currency; brands developing a better understanding of generational/cultural shifts