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A marketing analysis and strategy for Savile Row-based tailors Gieves & Hawkes.
Citation preview
Team Members
ArthurChauvin
History Brand DNA Brand strategy Marketing Mix Positioning Target consumer CBBE Pyramid SWOT Analysis Competitors Competitor mapping Competitor results Recommendations References
Outline
2002
1974
1929
1771
History
2011
2012
Brand DNA
o Oldest house on the Row
o Bespoke tailoring o Century-old craftsmanship
o British Heritage
o By Royal Appointment
“With 450 years of combined tailoringexpertise, at Gieves & Hawkes we are proud tobe internationally recognised as the purveyorsof quintessential English style.”
Brand Strategyo Unique, custom-made products for selective
clientele
o Expansion into ready-to-wear and accessories o Targetting a new wealthy customer base: China,
Hong Kong and Taiwan
o Modernising the brand heritage through innovative design and promotion
Marketing Mix
PRODUCT
o Bespoke tailoring o Private tailoring o Ready-to-wear
Suits (Formal, Business, Casual) Shirts Shoes Accessories (cufflinks, ties…)
Marketing Mix
PRICEo Bespoke
Two-piece suit from £3,100 Three-piece suit from £3,800
o Private tailoring Two-piece suit from £2,000 Three-piece suit from £2,350
o Ready-to-wear Shirts: £95 to £125 Shoes: £350 to £420 Accessories: £30 to £225
PROMOTION
o Printed ads in targeted magazines and papers e.g. The Wall Street Journal, The Economist
o Product placement o Celebrity endorsement o Eventso Social media
Facebook & Twitter
Kevin Spacey wears Gieves & Hawkes in House Of Cards
Gieves & Hawkes and Flammarion for the publication of Power & Style
Marketing Mix
Marketing Mix
PLACE
• 14 stores in the UK • E-commerce platform• 92 stores and concession in China, Hong Kong
and Taiwan
Positioning
o High-luxury niche market with Bespoke services Unique products created by true experts
o Premium to luxury market with ready-to-wear Affordable line based on brand’s prestige
o British style and expertise brought to China
Target Consumer
o Affluent and HNWi consumers
o Men between 25 and 65
o From Father to Son o Royal familieso Nouveaux riches
Differentiation
o Dandies
Salience
Imagery Performance
Judgments Feelings
ResonanceSALIENCE
• Low breadth of brand awareness• Medium depth of brand awareness
IMAGERY
• British Heritage • Tailor’s expert hands • Craftsmen to the military and
the Royal family
PERFORMANCE
• Impeccable service and CRM • Worldwide reputation • Successful expansion • Strong identity
FEELINGS
• Unique• Prestigious• Social status
Part of the Elite• Invincible and credible
(Rockfeller)
JUDGMENTS
• Exclusive • Finest quality • Incredible service • Elite clientele• Endless possibilities
RESONANCE
• High customer loyalty • High credibility in home
market • Authentic brand experience
SWOT Analysis
STRENGTHS
o Strong reputationo Part of Li & Fung group improved sourcing o Loyal customer baseo Diversification: ready-to-wear and accessorieso E-commerce platform
SWOT Analysis
WEAKNESSES
o No profit since 2008o Ageing customer baseo Decreasing number of tailors and apprenticeso Low production capacity (60 hours / suit) o Unfashionable image
SWOT Analysis
OPPORTUNITIES
o Broaden brand experience beyond tailoringo Fragrance and other accessories o Expansion into China and HK with Li & Fung o Brand rejuvenation through online and social
media Become known to young adult consumers
o Foreign trips with master tailors
SWOT Analysis
THREATS
o Direct competitors in the same areao High competition from luxury RTW brands o Skyrocketing rent prices on Savile Row o High prices of raw materials o Tailoring inadequate with online business
Competitors
Competitor mapping
Reputation
Price
Innovation
Product range
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Innovation
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Results
Recommendations
o Broaden brand experience New product lines: fragrance, eyewear Fashionable image + customer engagement
o Targeted advertising in China Daily newspaper
o Create brand pages on Chinese social networks Sina Weibo, Kaixin001, RenRen, WeChat
o Advertise using young, iconic celebrity Ed Westwick
Referenceso http://www.gievesandhawkes.com/o http://discover.gievesandhawkes.com/o http://www.anderson-sheppard.co.uk/o http://www.nortonandsons.co.uk/o http://www.henrypoole.com/o http
://www.luxurydaily.com/savile-row-hops-the-pond-to-expand-customer-reach/
o http://www.ft.com/intl/cms/s/0/83a54be2-6f96-11e2-956b-00144feab49a.html#axzz2P2fkohHp
o http://luxurysociety.com/articles/2011/02/luxurys-coming-of-ageo http://www.independent.co.uk/news/business/news/gieves--hawkes-bo
ws-to-chinese-buyer-7637564.html
o http://techrice.com/2011/03/08/chinas-top-15-social-networks/
Referenceso http://tmagazine.blogs.nytimes.com/2012/02/22/tailor-made-gieves-and
-hawkes/
o http://en.wikipedia.org/wiki/Gieves_%26_Hawkeso http://www.gq-magazine.co.uk/style/articles/2012-08/06/gieves-and-ha
wkes-savile-row-history
o http://parisiangentleman.fr/2012/08/26/savile-row-par-yoshimi-hasegawa/
o http://discover.gievesandhawkes.com/discover-gieves-and-hawkes-tailoring/faces
o http://www.wwd.com/fashion-news/fashion-scoops/gieves-hawkes-celebrates-power-style-book-6864032
o http://www.just-style.com/interview/spotlight-ontrinity-reveals-ambitions-for-gieves-hawkes_id114969.aspx