Tuesday, 26 May 2015
Tuesday, 12 May 2015
Assignment 2 - Marketing Stratergy - Missguided
Product Definition
The etailer is achieving 20% sales growth each month. Passi expects to unveil sales of £50m to £55m for its year to March 2013 which he predicts will grow to over £100m in its current financial year. Missguided ship to 160 countries and have celebrity ambassadors such as form pussy cat doll Nicole Sherzinger.
With Missguided attracting more than eight million website visits a month, which included a record 265,000 orders made in December 2013, the Missguided business sees significant opportunity to grow into a prominent global player as it moves into its sixth year of operation.
Overall, with the growing demand for young women to have the similar wardrobes to the celebrities they idolize, Missguided have become successful in giving their audience what they want which is one reason as to why they are so successful. Their buisness is constantly expanding and gaining more and more customers each month.
Situation Analysis
With the buisness expanding and demands booming, the pressure for Missguided to meet the expectations of their customers has become difficult. With large numbers of orders they recieve during the week and more importantly, for the weekends, it's become difficult for the company to meet their given delivery time brackets. Missguided are failing to deliever their customers orders on time, or even deliever the correct items. 1 in 8 people recieve their 'next day delievery' orders whilst the rest are still left waiting days later. This has resulted in a lot of negative press and damage to brand reputation. The aftermath of missguided not delievering properly, literally, leaves angry customers to take to twitter to express their anger and upset towards the company. by simply typing in 'Missguided' into twitter, thousands of tweets and photos appear from angry customers with nothing but bad things to say. This has left Missguided with the problem of damaged trust with existing and potential customers.
Competitive Enviroment
One of Missguided's main competitors is ASOS, with others being 'Boohoo' and 'Pretty Little Thing'. With customers being presented 4 powerful and successful fashion etailers, their comes a rival when decisions need to be made by the public on which company they should buy their products from. They each become threats to each other as they all want to be successful in having a large number of sales, as well as good press and brand recognition. With Missguided recently slacking more than usual to deliver their customers items on time, better delivery services from the other etailers such as Asos and boohoo are winning the publics trust as they are viewed as better companies to shop at.
Target Market/Research data
Missguided is a company that exists to bring customers not only the latest trends in fashion but celebrity inspired fashion trends and items of clothing. Missguided shadow the rich and famous on their red carpet debuts to offer their customers extremely precise dupes of their clothing. That is what they offer.
Another platform that helps missguided understand their target audience and little bit more is that as they are an etailer, one of their key elements of advertisement is through social media. When customers tweet about Missguided or tweet too them, Missguided can check them out and see what type of people are buying their products. It's highly unlikely you'll get somebody in their 50's on twitter, tweeting Missguided about a kim kardashian inspired pencil skirt they just purchased. Missguided already expect for young women and teenage girls to be using their products. This also allows for missguided to target their chosen target audience, which is 16-34 year olds, repeteadly.
Missguided use young, popular and attractive celebrities as their inspirations and ambassadors. Besides Nicole Sherzinger, more recently 'Pia Mia', a young teenage music artist from the USA has just made a collaboration with the company. Missguided and there customers know that she is close friends with the kardashians, especially Kylie Jenner who is one of this generations biggest beauty and fashion inspirations. Missguided already know that customers are going to want to be wearing what Pia Mia is wearing, they're going to want to know where they can get what she has on, they're going to adapt their style to hers, and for Missguided, it means lots more sales and a lot more popularity and brand recognition. The other positive to this for Missguided is that in the celebrity world, other celebs will be asking or finding out that Pia Mia is wearing clothing from Missguided which means even more recognition on a much higher level.
Action Plan
First thing is first, GoldMasters believe the campaign promotion of the advert and the release of the £50 voucher needs to happen first. This is because its very important Missguided get their feedback from the public about their new delivery services so they can get an understanding about whether the changes that were made were actually beneficial and if they need to solve any other problems, and so they can do it quickly.
The advert is their to increase sales overall and remind customers that missguided may have lost due to poor delievery services, and exisiting customers, what we have to offer. The press release and the advert will be released on the same day, July the 25th. The campaign will be ongoing for around a week. This gives Missguided time to recieve in their feedback and to finalize their response back out to the public about what was said about the new delievery services as a whole.
The reason it is being released so specifically on the 25th is because the other startergy we have which is the article for Glamour Magazine must be released in a new issue of the companies magazine which will lead us up to july 1st which will mark the end of the campaign, so it will last a week. The article in Glamour Magazine will be the last thing to be released as having an opinion and review coming from a third party, especially someone like Glamour, will allow people to understand how successful Missguided have been with the new delievery services.
Campaign Schedule:
Missguided is an online fashion retailer aimed at women aged 16-34. It was set up by Manchester-based entrepreneur Nitin Passi in 2008. The etailer, which employs over 300 people, sells celebrity inspired products at reasonable price points. It operates a fast fashion model bringing hundreds of new products to its site each week. It sells own brand product and, despite requests from retailers including fashion giant Asos, it has shunned wholesaling in favour of growing its own retail operation.
After a Red Hobbs dress by Pipa Middleton sold out, it took Missguided only five days to have a similar one on sale, according to Passi.
He said: 'We are very reactive and quick to market. We can turn round a product in three days, which is important in fashion. We can also offer next-day delivery to America compared with Asos's four-day delivery to the US
The etailer is achieving 20% sales growth each month. Passi expects to unveil sales of £50m to £55m for its year to March 2013 which he predicts will grow to over £100m in its current financial year. Missguided ship to 160 countries and have celebrity ambassadors such as form pussy cat doll Nicole Sherzinger.
With Missguided attracting more than eight million website visits a month, which included a record 265,000 orders made in December 2013, the Missguided business sees significant opportunity to grow into a prominent global player as it moves into its sixth year of operation.
Overall, with the growing demand for young women to have the similar wardrobes to the celebrities they idolize, Missguided have become successful in giving their audience what they want which is one reason as to why they are so successful. Their buisness is constantly expanding and gaining more and more customers each month.
Situation Analysis
With the buisness expanding and demands booming, the pressure for Missguided to meet the expectations of their customers has become difficult. With large numbers of orders they recieve during the week and more importantly, for the weekends, it's become difficult for the company to meet their given delivery time brackets. Missguided are failing to deliever their customers orders on time, or even deliever the correct items. 1 in 8 people recieve their 'next day delievery' orders whilst the rest are still left waiting days later. This has resulted in a lot of negative press and damage to brand reputation. The aftermath of missguided not delievering properly, literally, leaves angry customers to take to twitter to express their anger and upset towards the company. by simply typing in 'Missguided' into twitter, thousands of tweets and photos appear from angry customers with nothing but bad things to say. This has left Missguided with the problem of damaged trust with existing and potential customers.
Competitive Enviroment
One of Missguided's main competitors is ASOS, with others being 'Boohoo' and 'Pretty Little Thing'. With customers being presented 4 powerful and successful fashion etailers, their comes a rival when decisions need to be made by the public on which company they should buy their products from. They each become threats to each other as they all want to be successful in having a large number of sales, as well as good press and brand recognition. With Missguided recently slacking more than usual to deliver their customers items on time, better delivery services from the other etailers such as Asos and boohoo are winning the publics trust as they are viewed as better companies to shop at.
Target Market/Research data
Missguided is a company that exists to bring customers not only the latest trends in fashion but celebrity inspired fashion trends and items of clothing. Missguided shadow the rich and famous on their red carpet debuts to offer their customers extremely precise dupes of their clothing. That is what they offer. Another platform that helps missguided understand their target audience and little bit more is that as they are an etailer, one of their key elements of advertisement is through social media. When customers tweet about Missguided or tweet too them, Missguided can check them out and see what type of people are buying their products. It's highly unlikely you'll get somebody in their 50's on twitter, tweeting Missguided about a kim kardashian inspired pencil skirt they just purchased. Missguided already expect for young women and teenage girls to be using their products. This also allows for missguided to target their chosen target audience, which is 16-34 year olds, repeteadly.
Missguided use young, popular and attractive celebrities as their inspirations and ambassadors. Besides Nicole Sherzinger, more recently 'Pia Mia', a young teenage music artist from the USA has just made a collaboration with the company. Missguided and there customers know that she is close friends with the kardashians, especially Kylie Jenner who is one of this generations biggest beauty and fashion inspirations. Missguided already know that customers are going to want to be wearing what Pia Mia is wearing, they're going to want to know where they can get what she has on, they're going to adapt their style to hers, and for Missguided, it means lots more sales and a lot more popularity and brand recognition. The other positive to this for Missguided is that in the celebrity world, other celebs will be asking or finding out that Pia Mia is wearing clothing from Missguided which means even more recognition on a much higher level.
Action Plan
First thing is first, GoldMasters believe the campaign promotion of the advert and the release of the £50 voucher needs to happen first. This is because its very important Missguided get their feedback from the public about their new delivery services so they can get an understanding about whether the changes that were made were actually beneficial and if they need to solve any other problems, and so they can do it quickly.
The advert is their to increase sales overall and remind customers that missguided may have lost due to poor delievery services, and exisiting customers, what we have to offer. The press release and the advert will be released on the same day, July the 25th. The campaign will be ongoing for around a week. This gives Missguided time to recieve in their feedback and to finalize their response back out to the public about what was said about the new delievery services as a whole.
The reason it is being released so specifically on the 25th is because the other startergy we have which is the article for Glamour Magazine must be released in a new issue of the companies magazine which will lead us up to july 1st which will mark the end of the campaign, so it will last a week. The article in Glamour Magazine will be the last thing to be released as having an opinion and review coming from a third party, especially someone like Glamour, will allow people to understand how successful Missguided have been with the new delievery services.
Campaign Schedule:
Tuesday, 5 May 2015
Assignment 2 - Press Release
Press Release - Missguided's New and Improved Delivery System
Due to the rise in popularity Missguided and endured on their journey to international success, it has become the centre of negative press due to its failure to deliver peoples orders on time. This problem also includes delivering the wrong orders, and items that are not well crafted. It was announced today that Missguided have now improved their delivery by choosing a different company 'ESD Delivery' who they feel are more reliable and better suited for their type of business. With the option 'Next Day Delievery' being the most popular selected time bracket, Missguided needed to make a serious change as customers were not getting 'Next Day' delivery at all.
From this change we are expect that our new improved delivery system will gain existing customers and potential customers trust again.
In aim to achieve that, Missguided announced earlier today that featured in this event they will be giving away a £50 voucher to the first 100 customers that register an account with Missguided or sign up for their newsletter. We feel that this would be the perfect opportunity to experiment the new delivery service, and then go on the gain customer feedback on the new delivery system.
Glamour Magazine will also be releasing an article review on the new delivery system as Missguided are also giving a £50 voucher to one of their contacts at the magazine.
The campaign will begin on the 25th of July, 2015 and last until the 1st of August, 2015. Missguided themselves have stated that they are "Excited" for the future of the company, and "Feel as if the air between upset customers and Missguided has finally been cleared'' due to the improved services. They are 'hopeful' and 'Confident' they can gain customers trust again.
The campaign will begin on the 25th of July, 2015 and last until the 1st of August, 2015. Missguided themselves have stated that they are "Excited" for the future of the company, and "Feel as if the air between upset customers and Missguided has finally been cleared'' due to the improved services. They are 'hopeful' and 'Confident' they can gain customers trust again.
Friday, 1 May 2015
Assignment 2 - Task 4 - Marketing Plan: Missguided
Product Definition
Missguided was founded in 2008 by Nitin Passi. The company ships to 160 countries and has launched websites in the US, Australia and Europe. This retailer offers catwalk looks and celebrity inspired fashion to women aged between 16 and 35. It is endorsed by former Pussycat Doll and X Factor judge Nicole Scherzinger, who launched her first collections with Missguided this year. More than 2.7m customers have registered their details with the Salford-headquartered company since it was founded by Nitin Passi, 32, five years ago. Missguided has attributed annual sales of £51m partly to its ability to list 200 new products a week.
Missguided has become an international fashion retailer when it comes to wanting the latest celebrity inspired styles and items. Missguided base many of their styles on Kim Kardashian who is one of this generations biggest fashion influences. They also base styles on Vanessa Hudgens, Kylie Jenner and Cara Deleveigne.
This is a definition of who Missguided are from their website:
However, behind all of the companies success, as they have expanded to being an international retailer they have began to come into serious issues with delivery failure, and it's damaging the brands reputation.
Here are so illustrated examples:
These are only a selected few out of the hundreds of complaints people have sent in about the company. These are all from twitter, and with Missguided having a massive 300,000K+ followers, these complaints are exposed and visible to thousands of people. This also includes any celebrities or other fashion retailers that may follow them. As Nicole Sherzinger having an existing endrosement with Missguided of a clothing line of party wear, It will look bad on Nicole Sherzinger if Missguided are failing to deliver her items of clothing and that can result in bad press for Nicole and Missguided, and the more bad press Missguided get, the less other celebrities will want to be a part of it in the future.
Missguided was founded in 2008 by Nitin Passi. The company ships to 160 countries and has launched websites in the US, Australia and Europe. This retailer offers catwalk looks and celebrity inspired fashion to women aged between 16 and 35. It is endorsed by former Pussycat Doll and X Factor judge Nicole Scherzinger, who launched her first collections with Missguided this year. More than 2.7m customers have registered their details with the Salford-headquartered company since it was founded by Nitin Passi, 32, five years ago. Missguided has attributed annual sales of £51m partly to its ability to list 200 new products a week.
Missguided has become an international fashion retailer when it comes to wanting the latest celebrity inspired styles and items. Missguided base many of their styles on Kim Kardashian who is one of this generations biggest fashion influences. They also base styles on Vanessa Hudgens, Kylie Jenner and Cara Deleveigne.
This is a definition of who Missguided are from their website:
Here are so illustrated examples:
These are only a selected few out of the hundreds of complaints people have sent in about the company. These are all from twitter, and with Missguided having a massive 300,000K+ followers, these complaints are exposed and visible to thousands of people. This also includes any celebrities or other fashion retailers that may follow them. As Nicole Sherzinger having an existing endrosement with Missguided of a clothing line of party wear, It will look bad on Nicole Sherzinger if Missguided are failing to deliver her items of clothing and that can result in bad press for Nicole and Missguided, and the more bad press Missguided get, the less other celebrities will want to be a part of it in the future.
Assignment 2 - Task 3 - Marketing Strategy: Missguided
Missguided Marketing Campaign
The first strategy:
Objective: To get feedback from customers about the new delivery services.
Marketing Stratergy + Plan combined: Missguided want to put to the test their new delivery system and want customers and new individuals to test it out. They are going to do a competition where 100 customers only will get a chance to win a £50 voucher to spend at Missguided. The winner will enter by signing up for either their newsletter or an account by submitting their email, name, address and phone number (optional). The winners will receiver their voucher by email which will be a code form to enter when it comes to checkout. Before they can get access to their code, they will need to fill out a short survey regarding the delivery system. After completed, they can claim their voucher and spend it on whatever items they like. The voucher will cover delivery, unless they go over the £50.
The survey will consist of the following questions:
1.) What type of delivery service did you choose?
- Standard Delivery
- Next Day (Premium)
- Saturday
- Sunday
2.) Did Misguided deliver your order on time within the selected time bracket?
3.) Out of 5, what would you rate our new delivery system?
4.) Would you recommend us to a friend?
5.) Are you satisfied with our services?
Yes (Tick)
No (Have a comment box to explain why)
When all of the data has been collected from these surveys, Missguided will then continue to discuss their results with the public to let them know that successful changes have been made. This leads us to strategy 2.
The Second Strategy:
Objective: To have professional and solid feedback from an already existing successful company; being Glamour Magazine.
Stratergy + Plan: Missguided will team up with Glamour Magazine and select a journalist from their fashion column and give them a £50 voucher so they can review the delivery service and write an article about it to confirm the excellent delivery services. I have chosen Glamour Magazine because it is read by the exact same demographic that misguided have (ages 16-34) which means the same type of audience will be exposed to the review. Also, its a popular and very successful fashion magazine. Included in the Glamour magazine edition, Missguided will include a free gift for the magazine which will be a pair of pink or black knickers, especially from misguided that have 'delivery' on the back of it.
The Third Strategy:
Objective: To increase sales.
Stratergy + Plan: We will create a new TV ad to increase sales generally. The advert will consist of Missguided models dressed head to toe in the current and most popular trends, all items from Missguided. It will advertise new clothes. The style of Missguided's already existing adverts are very young and modern with tasteful music, beautiful models and eye catching set design. We felt it would be a good idea for the Missguided advert to sponsor 'The Kardashians' on channel E! as again, the similar sort of age demographic watch that show, its a young and popular celebrity dominated channel which fits in with Missguided perfectly.
The overall achievement is that Missguided want to achieve successful and positive press on their new delievery service along with increased sales and re-established bran popularity. The company need to remind their customers and potential buyers that they are still worthy of using and that they are still capable of being a company that can satisfy their customers. The content of Missguided is never a problem as customers love the clothing they provide and the styles they have.
The first strategy:
Objective: To get feedback from customers about the new delivery services.
Marketing Stratergy + Plan combined: Missguided want to put to the test their new delivery system and want customers and new individuals to test it out. They are going to do a competition where 100 customers only will get a chance to win a £50 voucher to spend at Missguided. The winner will enter by signing up for either their newsletter or an account by submitting their email, name, address and phone number (optional). The winners will receiver their voucher by email which will be a code form to enter when it comes to checkout. Before they can get access to their code, they will need to fill out a short survey regarding the delivery system. After completed, they can claim their voucher and spend it on whatever items they like. The voucher will cover delivery, unless they go over the £50.
The survey will consist of the following questions:
1.) What type of delivery service did you choose?
- Standard Delivery
- Next Day (Premium)
- Saturday
- Sunday
2.) Did Misguided deliver your order on time within the selected time bracket?
3.) Out of 5, what would you rate our new delivery system?
4.) Would you recommend us to a friend?
5.) Are you satisfied with our services?
Yes (Tick)
No (Have a comment box to explain why)
When all of the data has been collected from these surveys, Missguided will then continue to discuss their results with the public to let them know that successful changes have been made. This leads us to strategy 2.
The Second Strategy:
Objective: To have professional and solid feedback from an already existing successful company; being Glamour Magazine.
Stratergy + Plan: Missguided will team up with Glamour Magazine and select a journalist from their fashion column and give them a £50 voucher so they can review the delivery service and write an article about it to confirm the excellent delivery services. I have chosen Glamour Magazine because it is read by the exact same demographic that misguided have (ages 16-34) which means the same type of audience will be exposed to the review. Also, its a popular and very successful fashion magazine. Included in the Glamour magazine edition, Missguided will include a free gift for the magazine which will be a pair of pink or black knickers, especially from misguided that have 'delivery' on the back of it.
The Third Strategy:
Objective: To increase sales.
Stratergy + Plan: We will create a new TV ad to increase sales generally. The advert will consist of Missguided models dressed head to toe in the current and most popular trends, all items from Missguided. It will advertise new clothes. The style of Missguided's already existing adverts are very young and modern with tasteful music, beautiful models and eye catching set design. We felt it would be a good idea for the Missguided advert to sponsor 'The Kardashians' on channel E! as again, the similar sort of age demographic watch that show, its a young and popular celebrity dominated channel which fits in with Missguided perfectly.
The overall achievement is that Missguided want to achieve successful and positive press on their new delievery service along with increased sales and re-established bran popularity. The company need to remind their customers and potential buyers that they are still worthy of using and that they are still capable of being a company that can satisfy their customers. The content of Missguided is never a problem as customers love the clothing they provide and the styles they have.
Assignment 2 - task 2 - part b - Agency Identity
Agency Name: Gold Master agency
I created this in Adobe Illustrator and Photoshop.
Gold master agency are an agency that are focused on helping clothing retailers. They have existed since 2006 and have been extremely successful.
Gold master agency are an agency that are focused on helping clothing retailers. They have existed since 2006 and have been extremely successful.
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