Download - Monki Initial Proposal
EFMM6003
Part One: Illustrated Marketing Report
ROHMA MALIK 1201048
MONKI CONTENTS:
5 . . . 1. THE PROPOSAL
13 . . . 2. THE MARKETING MIX
23 . . . 2.2 PRODUCT
33 . . . 2.3 PRICE
45 . . . 2.4 PLACE
49 . . . 2.5 POSITION
55 . . . 2.6 PROMOTION
63 . . . 2.7 PERSUASSION
65 . . . 3. LAUNCH MARKETING BUSINESS PLAN
73 . . . 4. SWOT ANALYSIS
76 . . . 5. CONCLUSION
77 . . . 6. BIBLIOGRAPHY
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EXECUTIVE SUMMARY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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The EFMM6003 Part One: Illustrated Marketing Report takes an in depth look at the possibility of the Swedish brand Monki launching a menswear line to grow their market share and establish themselves within the menswear market. The report covers an overview of the proposal, a detailed marketing mix and a glance at the launch marketing business plan.
The research quotes is both primary and secondary.
INTRODUCTION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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The menswear market has rapidly grown over the last few years. By 2013 the UK menswear market was worth a total of £12.9bn [2]. On a global scale, the menswear market is worth $423.2bn [22]. It is further estimated that by 2018, the menswear market is to grow by 27% [3]. From these figures it is clearly illustrated that the menswear market is strong and growing. This is perfect for Monki to launch into the menswear market with the introduction of MONKI MAN.
Both primary and secondary research shows that men are becoming more fashion conscious and are struggling to express themselves through their clothing. This gives Monki an advantage over the current key players within the market. MONKI MAN is to stand by the brand motto of individual expression. They will do this through the garments being fun and quirky (giving them an upper hand). This will also reflect well on the brand image as it is very playful. The current key players are River Island, Cheap Monday, TopMan and Weekday. These key players are not as quirky and playful as Monki.
In terms of the macro environment, it is evident that fashion and technology are mixing [23]. The menswear market has grown by 18% in the past five years [22] and men are becoming more fashion conscious. There is a social change towards male vanity [4]. Male consumers are also predicted spend more on clothing than women [13]. Today it is far more acceptable for men to take pride in their image. Marketing strategies are changing and social media is becoming a popular method as it is cheaper and connects with the consumer more effectively. This is perfect for Monki as the brand has a well-known social media presence.
1. THE PROPOSAL
6 . . . 1.1 COMPANY OVERVIEW
9 . . . 1.2 OUTLINE OF NEW PRODUCT
10 . . . 1.3 UNIQUE SELLING POINT
11 . . . 1.4 ANSOFF MATRIX
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1.1 COMPANY OVERVIEW. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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“The truly strange and wonderful tale of Monki’s birth. It all began on a very ordinary day. Three friends got together to do some Dreaming. And Thinking. And Doing. But what they dreamed up... was a different world.”
[1]
IKMOOIMOO KIMOMO
OKI MOLUNA KYOMOCKI
“A world of eclectic fashion, made for you with a store and a story like no other: a place that would be all about expressing yourself. Living life
your way. A place where fashion would be fun and there’d be music and parties and laughter.” [1]
THE MONKI CHARACTERS
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A BRIEF INTRODUCTION
‘We have seen her return from a long flight with a faraway look in her eyes. She whispers to you about
nights with no end, and stars like diamonds spread out against the sky.’ [1]
Moluna55% Dreams , 30% Helium , 15% Lunalium
Oki15% Analysium , 20% Socialium ,
65% Proto-positivium
‘Yes! Yes, yes and yes again. We have never seen Oki anything but blissfully happy with
whatever happens. Even the rain. Even mean people. Even the impossible. Sometimes we wonder
if she’s ever been angry (and had to say sorry afterwards)?’ [1]
‘One that we’ve seen, out of the corner of our eyes, stopping suddenly to stare into space… As if he could see things that live on other planets, in other seas. Hums the soft songs of the deep.’ [1]
Imoo10% Gothium , 20% Wool , 20% Socialium ,
50% Emotionium
Kimono10% Helium , 20% Silk ,
20% Metamorphorsium , 50% Desirium
‘This one seems to ask: Are you even alive if you’re not in love? With someone or something or with
everything. And so we’ve seen her fall for a trinket, a pretty pebble, a falling leaf or just a hint of some
gorgeous colour.’ [1]
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Ikmo15% Iron , 15% Plutonium , 15% <3 ,
55% No
‘It’s a no. Whatever you want to ask, it’s a no, no, no. We believe Ikmo disapproves of e-v-e-r-ything.
Tea, Paris, flowers, a first kiss. Ugh. Still, there are times when saying yes means selling yourself short. And times when everyone needs to say no. Ikmo is
a no-friend.’ [1]
Mocki10% Fantasium , 15% Socialium , 50%
Rebellium , 25% Wilditude
‘The jester, the secret laugher, the punk! The one that steels just one of your
favourite socks or your best daydream and runs away with it with a wild cry, like a madman. That watches you watching him, hoping to make you stumble. The one you want to be, sometimes.’ [1]
Kyo25% Secrecium, 25% Go-Lium ,
50% X-Ray Vision
‘An alien creature from far away, one-eyed, strange-featured, bouncing all over the place. Too much, too loud: so wonderful. He seems to come
from a place far beyond even the Monki World.’ [1]
Monki currently has seven main characters that fall
into the story of “The Monki World”. This has led to the
inspiration of both the visual concepts throughout the
stores and within the branding.
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1.2 OUTLINE OF NEW PRODUCT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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1.3 UNIQUE SELLING POINT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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1.4 ANSOFF MATRIX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2. THE MARKETING MIX
14 . . . 2.1 PEOPLE
16 . . . 2.1.1 DEMOGRAPHICS
18 . . . 2.1.2 SPENDING POWER
19 . . . 2.1.3 MARKETING TYPOLOGIES
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2.1 PEOPLE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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TARGET CONSUMER
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2.1.1 DEMOGRAPHICS
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2.1.2 SPENDING POWER
82.22%
PURCHASE FROM THE HIGH SREET
[6]
87.5%PREFER BOLD PRINTS
AND COLOURS[6]
63.64% [6]
BUY ON IMPULSE
35.9%£SPEND AN AVERAGE
OF £40 PER PURCHASE
[7]
53.33%
INFLUENCED TO PURCHASE
VIA SOCIAL MEDIA
CAMPAIGNS[7]62.5%
PREFER NOSTALGIA
[7]
81.67%FIND TEMPTATION IN
PURCHASING DUE TO THE VM [7]
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2.1.3 MARKETING TYPOLOGIES
PSYCHOGRAPHIC PROFILE
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VISUAL CONSUMER PROFILE
YOUNG ADULT GAMER STUDENT NOSTALGIA TECHNO-ADDICT BLOGGER CARTOON 1990’S CHILDHOOD TOYS ART GRAPHICS HOUSE OLD
SCHOOL PHOTOGRAPHY CREATIVE EXPRESSIONATE
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2.2 PRODUCT
24 . . . 2.2.1 PRODUCT OVERVIEW
26 . . . 2.2.2 CAD RANGE PLAN
28 . . . 2.2.3 SOURCING STRATEGY
31 . . . 2.2.4 SUSTAINABILITY AND ETHICS
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2.2.1 PRODUCT OVERVIEW. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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FABRIC & PATTERN INSPIRATION
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TREND TWO: COOL KID
LOOK AT TREND BOOK (PART OF EXTENDED VISUAL PACK) FOR MORE INFORMATION
WOOLBrightly coloured and textured
through the use of different wool
POLYESTERMix of polyester to create different
textures and patterns
FABRIC
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TEXTURES AND PRINTS
PRINTSThese prints show a digital element that influenced this particular trend
TEXTUREA variety of textures were influential within this trend
2.2.2 CAD RANGE PLAN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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27CHECK THE APPENDIX FOR A FULL CAD RANGE BASED ON COOL KID
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2.2.3 SOURCING STRATEGY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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FOR FULL REPORT
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ENSURE DECENT
WORKING STANDARDS
NO TO CHILD LABOUR
ENVIRONMENTAL RESPONSIBILITY
DO NOT SELL FUR & MERINO
WOOL
ONLY SELL CRUELTY FREE
FEATHERS
AIM TO USE SUSTAINABLE
COTTON BY 2020
DO NOT USE RAINFOREST PRODUCTS
AIM TO RECYCLE 95% OF GARMENTS
CHANGE FOR FAIRER EDUCATION
MONKI VALUES
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2.3 PRICE
34 . . . 2.3.1 PRICING POLICY
35 . . . 2.3.2 PRICE BAND
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2.3.1 PRICING POLICY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2.3.2 PRICE BAND. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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FOR FULL REPORT
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2.4 PLACE
46 . . . 2.4.1 DISTRIBUTION STRATEGY
48 . . . 2.4.2 OMNI-CHANNEL RETAILING
2.4.1 DISTRIBUTION STRATEGY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2.4.2 OMNI-CHANNEL RETAILING. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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MONKI MAN will be
available to view and
purchase across both
the European and Asian
markets. The initial stores
to launch the menswear line will be in Sweden,
London, Japan. Other stores will vary depending on
the location of which
the online products are purchased.
48
MONKI MAN will be available to
purchase across all its current
online markets.
The website will remain the same and an
extension will be
added.
2.5 POSITION
50 . . . 2.5.1 PRICE/STYLE MATRIX
52 . . . 2.5.2 COMPETITOR EVALUATION
49
2.5.1 PRICE/STYLE MATRIX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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50
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
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51
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
2.5.2 COMPETITOR EVALUATION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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52
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
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53
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
54
2.6 PROMOTION
56 . . . 2.6.1 BRANDING
59 . . . 2.6.2 EXPERIENTIAL RETAILING
60 . . . 2.6.3 INTERGRATED MARKETING STRATEGY
55
2.6.1 BRANDING. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
56
The labels are very minimal with the logo, however with the addition of the
holographic paper, Monki still adds its touch. The
label also includes a plastic character. Monki currently also offer a “Team Monki”
loyalty card that allows 20% off on the sixth purchase.
The branding of Monki consists of playing with the idea of the Monki World.
Their shopping bag includes a map of the world. Their
receipts include the current characters along with the
T&C’s.
TAGS AND BAGS
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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57
CLOTHING TAGTo be made of two cards. Front to be
holographic and back to be plain white. Second card to be plain with garment details,
price and country of manufacture.
SHOPPING BAGBright and colourful to both reflect the brand personality and to create curiosity amongst consumers. Will be given to all customers to
raise awareness of the new line.
MONKI MANThe launch of the new line will
release a new Monki character known as Monki Man.
He will prominent amongst the campaigns for the menswear line.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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BRANDING DNA
58
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
2.6.2 EXPERIENTIAL RETAILING. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
59
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
2.6.3 INTERGRATED MARKETING STRATEGY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
60
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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61
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
62
2.7 PERSUASSION
63
64
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
LAUNCH DURING STOCKHOLM FASHION WEEK
#MONKIMANSOCIAL MEDIA CAMPAIGN
13
SPEND LUNCHTIME
ONLINE SHOPPING [4]
63.64%IMPULSE BUYERS [7]
MONKI WILL USE
THEIIR CURRENT
STORES> 81.8
7% MORE LIKELY TO PUR
CHASE DUE TO THE VM OF A STORE
[6]
SOCIAL MEDIA
IS THE
GREATEST
REVOLUTION
[5]
>M
ENSW
EAR
SHO
PPIN
G
THROUGH SOCIAL MEDIA
[12]
AVAILABLE TO PURCHASE ON MONKI.COM
53.33%
LIKELY TO BUY DUE
TO SOCIAL MEDIA PROMOTION[6]
83.87%
EXPRESS THROUGH CLOTHING
[6]
#TEAMMONKIMEMBERS RECIEVE PROMOTIONS
FREE DELIVERY WITH PURCHASES OVER £80
FROM RESEARCH IT IS EVIDANT THAT SOCIAL MEDIA IS IMPORTANT TO BOTH CONSUMER AND BRAND
CREATIVE VM ATTRACTS THE CONSUMERS AND MOTIVATES
PURCHASES TO BE MADE
MONKI MAN IS THE PERFECT LINE TO CATER THE NEEDS
65
3. LAUNCH MARKETING BUSINESS PLAN
66 . . . 3.1 ESTIMATED RETAIL SALES
68 . . . 3.2 LAUNCH MARKETING COSTS
69 . . . 3.3 CAPITAL INVESTMENT REQUIRED
70 . . . 3.4 PROJECTED PROFIT/LOSS
3.1 ESTIMATED RETAIL SALES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
66
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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67
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
3.2 LAUNCH MARKETING COSTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
68
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.3 CAPITAL INVESTMENT REQUIRED
69
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
3.4 PROJECTED PROFIT/LOSS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
70
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
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71
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
72
4. SWOT ANALYSIS
73
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74
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
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75
FOR FULL REPORT
CONTACT ROHMA
MALIK ON [email protected]
77
BIBLIOGRAPHY
78 . . . REPORTS/ARTICLES
80 . . . IMAGES
91 . . . RANGE PLAN
