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AD013 Fashion & Textiles (Merchandising)

GRAP2444 PRODUCT DEVELOPMENT ASSIGNMENT

MARKETING PLAN

Millennial
Thursday 25th August, 2016
This report was written by the Millennial team of the
Associate Degree of Fashion and Textile Merchandising, RMIT
University, 2016.

Jess Bosnic s3502779


Tameeka Chewe s3503128
Chim Tin Wai (Tina) s3258814
Miranda Crouch s3501772
Pauline Kimberley s3529777
Laura Leanza s3559786
Erin Marzano s3529877
Executive Summary
This Marketing Plan report, authored by our team - Millennial, has been written to
communicate our response to the brief presented by our industry partner, Myer Miss
Shop, at the start of the year. The purpose of the report is to present a detailed
marketing strategy based on our teams findings and analysis of primary and
secondary research including market research, trend analysis and final product
design.

Specifically, our response to the brief requires our team to present a range of 15
pieces - a mix of tops (including a must-have tee) and bottoms, a clear and
competitive pricing structure and a suggested visual merchandising approach. Our
team has approached these provisions through product, price, promotion and place
recommendations in relation to the Miss Shop Essentials Capsule Collection our
team has developed.

In summary, our recommendations include:


A loungewear-inspired Essentials Capsule Collection that consists of 15 items
in a seasonal subtle colour palette (with a focus on skin tone colours)
alongside the staples of black and grey. The range will be narrower, but
versatile and easy wearing.
Improving fabric quality to establish a point of difference from major
competitors, such as Cotton On, as well as to build a sense of esteem to the
garments.
Using a clearer pricing structure consisting of a $20 to $60 price range, with
$10 intervals this will create a neater structure and a USP.
Conducting a Miss Shop Movement campaign with an emphasis on girl
power by embracing natural beauty and imperfection. This campaign focuses
on issues relevant to Australian girls such as body image, race and emotional
health.
Using ambassadors and creating a unique in-store experience in relation to
the promotional campaign consisting of an in-store Lounge Area
accompanied by an Interactive Ribbon Wall.
Creating a separate Miss Shop website outside of the Myer collective website,
a Snapchat account, and a Miss Shop app
Improving consistency in the structure and placement of Miss Shop within the
brick-and-mortar stores, including visual merchandising
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Table of Contents
Executive Summary ................................................................................................... 2

1 Introduction .......................................................................................................... 6

2 Market Analysis .................................................................................................... 7


2.1 Market Situation ........................................................................................................ 7
2.1.1 Overview of the market ......................................................................................... 7
2.1.2 Target Market ........................................................................................................ 8
2.1.2.1 Target Market Snapshot .............................................................................................. 8
2.1.2.2 Demography ................................................................................................................ 9
2.1.2.3 Psychographic Profile (AIO) ........................................................................................ 9
2.1.2.4 Generational Divides (Primary Target Market) .......................................................... 10
2.1.2.5 Buying Behaviours (Primary Target Market) .............................................................. 10
2.1.2.6 Scope and Limitations (of the Essentials Range and Myer Miss Shop) .................... 11
2.2 Current Product Situation ...................................................................................... 12
2.3 Competitor Analysis ............................................................................................... 12
2.3.1 Direct Competitors .............................................................................................. 12
2.3.1.1 Positioning Map ......................................................................................................... 16
2.3.2 Indirect Competitors ............................................................................................ 17
2.4 Current Distribution ................................................................................................ 19
2.4.1 Online .................................................................................................................. 19
2.4.1.1 Examples of Best Practice ......................................................................................... 19
2.4.2 Brick-and-Mortar Stores ...................................................................................... 20
2.4.2.1 Examples of Best Practice ......................................................................................... 20
2.5 Macro Environment ................................................................................................. 21
2.5.1 Demographic ....................................................................................................... 21
2.5.1.1 Population Growth in Australia .................................................................................. 21
2.5.1.2 Generation Z Population Trends ................................................................................ 21
2.5.1.3 Immigration Trends .................................................................................................... 21
2.5.2 Political/Legal ...................................................................................................... 22
2.5.2.1 Labelling Laws ........................................................................................................... 22
2.5.2.2 Political Unrest in Highly Influential Countries ........................................................... 22
2.5.3 Economic ............................................................................................................ 23
2.5.3.1 Fluctuating Australian Dollar ...................................................................................... 23
2.5.3.2 Employment Regulations ........................................................................................... 23
2.5.3.3 Disposable Income Shifts .......................................................................................... 23
2.5.3.4 Consumer Sentiment Index ....................................................................................... 23
2.5.4 Social/Cultural ..................................................................................................... 24
2.5.4.1 Gender Equality/Neutral Trends ................................................................................ 24
2.5.4.2 Changing Teenage Lifestyles .................................................................................... 24

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2.5.5 Technological ...................................................................................................... 25
2.5.5.1 Mobile Phone Technology/Mobile Optimised Websites ............................................. 25
2.5.5.2 Pokmon Go/Augmented Reality .............................................................................. 25
2.5.5.3 Online Reputation ...................................................................................................... 25
2.5.6 Competitors ......................................................................................................... 25
2.5.6.1 International Retailers Physical Presence in Australia .............................................. 25
2.5.6.2 European Brands Following Migration Patterns ........................................................ 26
2.5.6.3 Fierce Local Competition ........................................................................................... 26

3 SWOT Analysis ................................................................................................... 27


3.1 Brand (SWOT) .......................................................................................................... 27
3.1.1 Strengths ............................................................................................................. 28
3.1.1.1 Location ..................................................................................................................... 28
3.1.1.2 Distribution Channels ................................................................................................. 28
3.1.1.3 Corporate Social Responsibility ................................................................................. 28
3.1.2 Weaknesses ....................................................................................................... 28
3.1.2.1 Brand Awareness and Recognition ........................................................................... 28
3.1.2.2 Competitive Advantages ............................................................................................ 28
3.1.3 Opportunities ....................................................................................................... 29
3.1.3.1 Improved Online and Social Media Presence ............................................................ 29
3.1.3.2 Implementation of In-store Experiences .................................................................... 29
3.1.3.3 Identify and Expand Miss Shops USPs .................................................................... 29
3.1.3.4 Offering Value for Money (Consumers POV) ............................................................ 29
3.1.4 Threats ................................................................................................................ 29
3.1.4.1 International Brands Entering the Australian Market ................................................. 29
3.1.4.2 Online Shopping ........................................................................................................ 30
3.2 Product (Category) (WO) ........................................................................................ 30
3.3 Issues Analysis ....................................................................................................... 30
3.3.1 Product ................................................................................................................ 30
3.3.2 Price .................................................................................................................... 30
3.3.3 Place ................................................................................................................... 31
3.3.4 Promotion ............................................................................................................ 31

4 Objectives ........................................................................................................... 31
4.1 Financial Objectives................................................................................................ 31
4.2 Marketing Objectives .............................................................................................. 31
4.2.1 Product ................................................................................................................ 31
4.2.2 Price .................................................................................................................... 31
4.2.3 Place ................................................................................................................... 31
4.2.4 Promotion ............................................................................................................ 32

5 Marketing Strategies .......................................................................................... 32


4
5.1 Product Strategies .................................................................................................. 32
5.1.1 Current Product Strategies ................................................................................. 32
5.1.2 Product Recommendations ................................................................................. 33
5.1.2.1 Proposed Range and Strategies ................................................................................ 34
5.1.2.2 Overall Range Justification ........................................................................................ 38
5.2 Price Strategies ....................................................................................................... 39
5.2.1 Current Price Strategies ...................................................................................... 39
5.2.2 Price Recommendations ..................................................................................... 40
5.3 Promotion Strategies .............................................................................................. 40
5.3.1 Current Promotion Strategies ............................................................................. 40
5.3.2 Promotion Recommendations ............................................................................. 41
5.3.2.1 Miss Shop Movement Campaign Photo Shoot .......................................................... 41
5.3.2.2 Miss Shop In-Store Experience (Miss Shop Lounge) ................................................ 42
5.3.2.3 Miss Shop App ........................................................................................................... 42
5.4 Place Strategies....................................................................................................... 43
5.4.1 Current Place Strategies ..................................................................................... 43
5.4.1.1 Online Place Strategies ............................................................................................. 43
5.4.1.2 In-store Place Strategies ........................................................................................... 43
5.4.2 Place Recommendations .................................................................................... 43
5.4.2.1 Online Place Recommendations ............................................................................... 43
5.4.2.2 In-store Place Recommendations .............................................................................. 44
5.4.2.3 External Place Recommendations ............................................................................. 45

6 Purchase Plan and Promotional Budget .......................................................... 45


6.1 Purchase Plan.......................................................................................................... 45
6.1.1 Purchase Plan Supporting Material .................................................................... 45
6.2 Promotional Budget ................................................................................................ 45

7 Conclusion .......................................................................................................... 47

References................................................................................................................ 48

Appendix................................................................................................................... 51

5
1 Introduction
This Marketing Plan report has been written by our team (Millennial) to be presented
to our mentor of the Industry Project and to our industry partner - Myer Miss Shop.

Our objective is to present a marketing strategy to fulfil the mission statements of


the Myer brief, that was presented at the beginning of year, which requires research
and analysis of the competitive market for womens youth basics and to make
recommendations to appeal to, connect and communicate with the target customer.
The brief challenged our team to design a capsule collection for Miss Shop
Essentials to sit alongside the main range. The current Essentials range consists of
basic tops and bottoms retailed in-store and online through Myer. The focus of the
brand is to deliver casual, on-trend basics at an affordable price. Recommendations
on price and fabrication were also required, alongside a marketing proposal with
supporting VM material.

The following report discusses and analyses the current market situation with an
overview of the TCF market, target market, product and price situation, direct and
indirect competitors, distribution channels and the macro environment. Additionally, a
situation analysis is provided highlighting various strengths, weaknesses,
opportunities and threats for Essentials with an examination of weaknesses and
opportunities for the product category.

Taking all factors into consideration, the report addresses our teams marketing and
financial objectives with recommendations for product, price, promotion and place to
address and provide answers to Myers brief. Furthermore, a six month buy plan,
detailing an estimate of the volume and value of the product category, has been
included, in addition to a promotional budget based on our recommendations.

However, our team acknowledges that there are limitations to this report. This
includes not having access to specific financial details and a full understanding of the
supplier capabilities (in regards to our budget plans range decisions). Our location
has hindered our ability to access Myer stores outside of Melbourne, thus limiting our
analysis and perception of Myer practices. Additionally, our primary research was
limited due to the size and convenience of the sample; therefore, the findings from