Promotional Campaign for Gucci: Fashion is New Sense
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Added on 2023/06/08
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This report discusses a promotional campaign for Gucci, focusing on K culture. It covers brand analysis, campaign goals, market segmentation, and budget plan.
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CREATIVE PROMOTIONAL CAMPAIGN
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Brand analysis..............................................................................................................................3 Promotion....................................................................................................................................9 Time line and budget.................................................................................................................10 CONCLUSION..............................................................................................................................11 REFERENCES..............................................................................................................................12
INTRODUCTION Promotional campaign is the essential part of organisation’s complete marketing, its aim to alert the target consumers about the specific launch, and service expansion (Chaudhary and et.al 2022). Generally promotional campaign involves the contests to gain customer attention, special voucher over items and appreciation to those customers on the basis of their volume of buying. Following report is based on promotional campaign for Gucci where the major highlight is on K culture. As Korean Culture is becoming increasing trend where many brands are focusing on in order to meet the demand of customer who currently looks for the K fashion. This present study is based on portfolio that covers the analysis of market segmentation and description about the pre-determinedKPI’s. it coversthe brand analysis, campaign goalsand pen portrait for campaign. It further illustrates the market insight, campaign proposal and time line or budget, also discuss the cultural and ethical considerations. MAIN BODY Brand analysis Brand analysis refers to the marketing process which evaluates the firm’s branding strategies (Marczak,2018). It entails the company’s details like its identity and personality, it always consists of the message through which company tries to connect with their target audience. Gucci is the popular brand which deals with varieties in their products, K culture is becoming popular day by day thus Gucci has also decided to launch their items that indicates the K Culture now they are trying to launch new range within their menswear product line. Campaign goals and pre-determined KPI’s Promotional campaign is “Fashion is new sense” it is campaign’s name that initially aim to launch in UK’s regional location. Once it gets successful company will try to launch it internationally most probably through influential marketing. Goals for the campaign are as follows: To increase the brand awareness by 50 % at the end of this year
To acquire new customer segment to drive better revenues To boost brand engagement to attract larger audience KPI “key performance indicators” define as quantifiable measures utilised for evaluating the promotional campaign performance. It helps in making further valuable decisions and also validatesthe returnsover the marketinginvestment.Therefore,suitableKPI for Gucci’s campaign is as follow: Customer acquisition cost(CAC):CAC refers to the cost for winning the buyer to their purchase of any product and service. It is calculated by adding the sales and total marketing investment and then dividing it by the number of new buyer (Fakhravar and Tahami, 2022). With this Gucci can easily determine their new customer they can easily calculate total costing which is invest on gaining customers through marketing. By knowing the lifetime value of the consumer will assist the firm to analyse right amount to invest on marketing, thus company can be easily secure from loss. Click through rate (CTR)This KPI suggests that how many consumers clicked on the link which is provided by firm to their target consumers over Email. It helps in determining the how successful email copy and process is. Therefore, for the campaign “fashion is new sense” Firm can begin to notify their target audience about this to mark their presence over the cultural V&A institute, and later provide the information over social media so that customer can visit the site to make purchase of new item. Social media traffic and conversion rateSocial media is proven as the most useful for success of every campaign. It is simpler and convenient platform that helps in educating the audience and to create the buzz, often helps in developing trust (Muravskii,Smirnova and Muravskaia, 2021). Therefore, with this company can determine the total number of the lead conversions that is developed through every social media channel, and no of percentage in traffic that linked with social media channels. Hence for the “fashion is the new sense” campaign, this KPI is helpful in identifying the number of audience who started interacting with firm’s new product launch. SWOT analysis: SWOT analysis is the strategic tool that used to determine the internal environment of the business, it gives the complete of factors that leads to better strategic decision making.
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Strength:Gucci is the popular brand in their market field and have known for their popular items, company have knowledgeable and skilful workforce which makes them able to maximise their successful rates. Thus regarding with the fashion is new sense promotional campaign, company have come up with the unique message as this campaign name itself signifies that to experience the best form of fashion that concerns with the K culture which is worldwide popular. Weakness:As such no weakness is identified as Gucci is the leading brand, therefore firm always concern with their brand image and always tries to deliver good message and products for theirpotentialandsustainablegrowth(Santos,BilroandLoureiro,2019).Butforthe promotional campaign for new menswear, company have lack in technicality which is the biggest weakness that comes forward. Overall there are limitation in ads and visual elements in their campaign which is the drawback. Opportunity:Regarding Gucci firm there are many opportunities for the firm as growing demand among consumer regarding K culture oriented things is increasing day by day, also now customers are more brand conscious. Thus it is the opportunity for the firm to deliver the product that marks their good success in fashion industry. Emerging market and global expansion is the opportunity for firm, therefore for their campaign firm can proceed to promote it at regional level and once their products make their good presence then they will proceed to launch it at international level. Threats:Biggest threat is competition, as companies like Burberry, Christian Dior already have created their brand impression over the consumer. Therefore, in such it is important for Gucci to come with unique approach in order to maximise their revenues rate. PEST analysis: Pest analysis comprises of the factors that are used to determine the impact of the external factor over the industry and on organisation. Political:It comprises of the political aspects, tax, fiscal policies and other governmental factors. It has the huge impact over the fashion industry, therefore changing political environment impacts the decision making (O’Brien and Chan, 2021). Asian countries that have rampant the red tapism can lead to create negative environment for Gucci like brands. Country which do not have some system for securing the intellectual property can result in negative effects for Gucci. Also if they enter into the market where the taxation level is high then it will affect the profitability rate of the firm.
Economical:It consists of the interest, inflation rate, exchange rate and employment rate etc. Changing in these rate create a huge impact for the industry. Gucci has faced the lot of challenges in market which highlights their skimmed cost and insurance buying that sought after by buyers. Company’s positive and greater contribution within economy results in enhanced GDP and enhancement in living standards of economy. Despite of some adverse economic impact luxury product industry have experienced the positive impact of economy. Therefore, for their new campaign company can proceed to invest on larger scale or globally to launch new products into other country’s region as well. Social:Demographic factors, customer beliefs, lifestyle trends fall into this category. Gucci is the premium brand and offers their products to the high end users who specifically have interest in company’s product and services (Lupi, 2020). They have the loyal customer brand because of their luxuries and unique products, they always aim to target the market where the customer belongs to high society and have better earning level as their products are extremely rare and unique. Every year Gucci brand have also contributed in the different project that aims to secure the women rights and they also support the programs which aims to promote better health and education for children. Technology:It encompasses the inclusion of new emerging technologies that are anticipating the market, it has created the major impact over every sector, for the fashion industry it has created the global opportunities for the brand to launch and promote their products through technological mediums. Gucci has created also expanded their reach by developing the awareness and promotion of their products and services over the different social media platforms like Facebook, Instagram and Twitter. Consumer segmentation Consumer segment refers to the process by which firm divides their target consumer into the segments that comprises of their common interest and attributes (Carrasco and et.al 2018). Where the segments are demographic, geographical, behavioural and psychological segment. For their campaign it is better to target the demographic segment where they can easily target the consumer that are always shown up their interest in company’s product. For their new campaign fashion is new sense that is up to for launch of new K culture oriented menswear product, company will target the consumer who have good earning level, and have interest in new fashion clothes, generally this product is made for men age 20-40. Therefore, it will be good if company
focus on launching it on the basis of demographic segment, after the success of the campaign firm can begin to target the geographical segment as well for global sale of their new products. Pen portrait of customers It is informal details about the person which the firm mainly targets, it includes their age and other characteristics like their lifestyle, attitudes. Pen point helps the firm to make out the betterdecisiontotargettheircustomerbasedontheirinterestandothercharacteristics. Therefore, for the Gucci for their “Fashion is new sense” campaign pen portrait of consumer is discussed below: Pen portrait Name: Eric bowman Email Id:eric31@gmail.com Age: 30, Gender: Male Social media: Active on Instagram, Facebook, Snapchat, Twitter Profession: Manager at recognised firm Likes: Hanging out with friends, always being fleshy and likes to wear branded or luxurious clothes, belongs to social class and financially strong Market insight Market insight which is identification of the relevant and actionable things about the target market, where the firm conducts the research before initiating with anything else. Best market insight provides the better offering to both seller and firms (Samoilova,2021). Therefore, Gucci brand has also conduct the primary research to know the interest of customers regarding K
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culture oriented products, all information helped them to come up with products that aims to meet the requirement of customers. Visual mock ups of promotional materials Visual mock ups are about high profile design that used to present the information order and visualising the overallcontent and presenting thefunctionalitiesin a staticmanner. Regarding promotional campaign of Gucci there is a proper use of colours and typographies that looks attractive and able to catch attention of the customer (Güney, 2018). Campaign’s message is also circulated where the information is made by concerning with all ethical and cultural aspects, information is inclusive which do not discriminate any gender and cultural beliefs of people. Following Campaign of Gucci brand have come up with the unique visual and ads, which helps in attracting customer towards it. Figure1fashionSenselogo, 2022 Figure2Gucci advertisement analysis, 2022
Promotion It is important to promote the campaign in order to get noticed by the large audience, once firm is able and successful in making their promotional campaign noticed by others, then it is sure that they will be able to convey campaign message to target audience (Salazar, Mills and Veríssimo, 2019). It is found that Gucci uses the influential marketing for promoting their item that is linked with K culture for this they have the identified suitable K celebrities for promoting their item as large scale and often they are successful in it. Below the line & above the line tools Below the line (BTL) refer to promotional method that is directly managed by the firm selling product and services like direct selling and in store selling offers. Whereas Above the line (ATL) encompasses the mass media like Television, radio, magazines for attracting the wider audience. Both have its own aspect where social media marketing also comes under the BTL as it is one of the most powerful marketing that done through various social media platform like Instagram, Facebook and so on. For the promotion of Gucci’s campaign both ATL and BTL is appropriate to create awareness about it, as via ATL firm can easily proceed with traditional marketing to attract as many of target consumers, With the use of BTL firm can aim to promote their campaign at international level to gain the attention of wider audience, it is cost convenient as well a time efficient approach (Ribeiro,2018). For the promotional activities, Gucci promotional campaign will collaborate with the Victoria and Albert museum. It is one of the largest museum and it consists of the applied and decorative arts. As for the campaign initially it aims to start in London, UK, the it is best to collaborate with V&A as this physical location is already popular and if company run their promotional campaign here then it will be surety that larger audience will come to attend the campaign.
Time line and budget Therefore, below is the timeline for the launching of the fashion is the sense campaign, following shows the activity which is done accordingly with the aim to make campaign successful. Activities1stWeek2ndWeek3rdWeek4thWeek5thWeek6thWeek Market research Develop plan Review and agree Internal and partner awareness Market awareness through
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banner ads Web ads Social media platform Budget plan Budget plays an vital role in order to manage the total investment which is about to invest on particular project. It helps in securing from any loss, for the proper budget, budgetary teams analyse all factors and then pass the budget for activity (Chowdhury, 2018). Hence for Gucci brand, their budgetary plan for new campaign is as follow: ResourcesAmount Promotional activities£3000 Market research£1000 Labour cost£1500 Venue cost£500 Website and infrastructure£2000 Other expenses£2000 Total£10,000 CONCLUSION From the above report it is concluded that promotional plan for the organisation plays an crucial role for their success. Marketing campaigns generally designed with the aims to create an brandawarenesstogetattentionoflargeaudiences.Abovereporthaveillustratedthe information which is regarding company’s campaign that entails the K culture details in the products and services. Above have included the Brand analysis description where it highlighted the promotional campaign’s objective and pre identified KPI for measuring campaign’s success. Furthermore, report have included the consumer segment and their pen point description, also included the market insights. Report also illustrated the range of discussion over the promotional
activity for the campaign where it covers the description about collaboration with one physical location and also discuss the BTL and ATL tool. Report lastly concluded with the discussion over the visual mock ups for promotional materials and also covers the description about ethical consideration, timeline and budget. REFERENCES Books and Journals Carrasco, R.A. and et.al 2018. A fuzzy linguistic RFM model applied to campaign management. Chaudhary, K. and et.al 2022. Optimal promotional policy of an innovation diffusion model incorporating the brand image in a segment-specific market.Journal of Management Analytics,9(1), pp.120-136. Chowdhury, M.A., 2018. Effectiveness of digital marketing through social media campaign. Fakhravar,H.andTahami,H.,2022.InternationalCo-BrandingandFirmsFinance Performance.arXiv preprint arXiv:2202.07128. Güney, E., 2018. Efficient election campaign optimization using integer programming.Journal of Industrial Engineering and Management,11(2), pp.341-348. Lupi, L., 2020. Key success factors of global brand repositioning strategies in the fashion industry: the case of Puma and Gucci. Marczak, M., 2018. Branding as an essential element of the of destination management process using the example of selected states.Nauki O Zarządzaniu.23(2). pp.29-40. Muravskii, D., Smirnova, M. and Muravskaia, S., 2021. Engaging allies for better or worse: investigatingtherelationshipbetweenmultiple-brandalliancesandpersuasion knowledge.International Journal of Advertising, pp.1-32. O’Brien, M. and Chan, K., 2021. Explainer: What is the metaverse and how will it work?.AP News, pp.10-29. Ribeiro, T.P., 2018. A Decentralized Approach to a Social Media Marketing Campaign: Proof of Concept. Salazar, G., Mills, M. and Veríssimo, D., 2019. Qualitative impact evaluation of a social marketing campaign for conservation.Conservation Biology.33(3). pp.634-644. Samoilova, V.O., 2021. ETHICS AND NEUROPSYCHOLOGY AS A FOUNDATION OF MARKETING CAMPAIGN.ББК65.42 С76, p.28.
Santos, J.F., Bilro, R.G. and Loureiro, S.M.C., 2019. Analysing the impact of massclusivity campaignsonluxuryandmass-marketfashionbrands.Analysingtheimpactof massclusivity campaigns on luxury and mass-market fashion brands, pp.810-811.