Bora Aksu Group Branding Project PDF

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Summary

The branding assignment made us look at a brand in the UK market and internationalise it. The brief assigned us to take the brand to a new location in Asia (Vietnam) and to improve and adjust the branding and marketing activities to the new location....

Description

Group Branding Project Manal Waqi, Komal Ishtiaq, Sevda Kiratli, Wenhan Hao

Unit: Fashion Branding Tutor: Dr Natascha Radclyffe-Thomas

Waq14434841, Ish15454905, Kir15459982, Hao15459403

Executive Summary Established in 2002, British contemporary luxury label Bora Aksu has established itself as a prominent fashion label, drawing particular focus on the brand characteristics of dramatic elegance, femininity and grace. With a lack of social media presence and multichannel retailing, Bora Asku has focused on using positive PR activity and strong products to establish their presence in the UK retail market. Focusing on a target consumer who is young, urban and looking for niche brands, Bora Aksu has carefully positioned themselves amongst other competitors such as Self Portrait, Erdem and Needle & Thread. As the aim of the proposed extension is to introduce Bora Aksu to the Vietnamese retail market, great effort was put into understanding the market. Rapidly emerging as a key Asian market, the Vietnamese consumers are continuously becoming more wealthy, with a higher spending capacity. Thus, these newly emerging shoppers are looking for access to more international brands, which they can buy into. With greater digital media and mobile access, the Vietnamese consumers are using social media platforms to engage with brands, rather traditional means of advertising. The idea of the brand extension is to introduce an exclusive capsule collection (incorporating silk scarves and an Ao Dai) into Vietnam, through a series of pop-ups at Diamond Plaza in HCMC, Vietnam. The first pop-up will be themed ‘Inside A Dollhouse’, incorporating a vintage dollhouse theme, focusing on the designer’s signature sketches. Through the means of a personal selling event, digital media campaign and positive PR activity and word of mouth, the brand aims to increase brand awareness, thus resulting in a market share of 0.2% eventually. The integrated marketing communications progress will be tracked through a series of quantitative and qualitative results, which will eventually tell if the extension has proved to be a success or not. !

Table of Contents Brand Audit

01

1.1 1.2 1.3 1.4

1.5 1.6 1.7

Brand Background Bora Aksu Timeline Brand Identity Consumer Analysis 1.4.1 Pen Portrait 1.4.2 Customer Findings Marketing Mix Competitor Analysis SWOT Analysis

2 3 5 8 9 10 12 25 28

Market Audit

02

2.1 2.2

2.4

PESTEL Analysis Consumer Research 2.2.1 Segmentation and Targeting 2.2.2 Pen Portrait Competitor Analysis

30 32 33 34 36

03

Brand Extension 3.1 3.2 3.3 3.4 3.5

Concept 40 Aims & Objectives 41 DRIP Model 43 Collection 44 Lookbook specifications and examples 46 3.6 Packaging Specifications 47 3.7 Typography palette/ Logo specifications 49 3.8 Marketing Communications51 3.9 Brand Ambassadors 54 3.10 Timeline –Gantt Chart & Promotional Tactics Plan 56 3.11 Budget 57 3.12 Evaluation 58 3.12 Conclusion 59

List of Figures Figure 1 - Kapferer’s Brand Identity Prism Figure 2 - Keller’s Brand Equity Model Figure 3 - Market Segmentation Figure 4 - Product Range Pyramid Figure 5 - Pricing Range Pyramid Figure 6 - Consumer Touchpoints Figure 7 - Competitor Positioning Map Figure 8 - Competitor Analysis Table Figure 9 - Social Media Competitor Analysis Figure 10 - Brand SWOT Analysis Figure 11 - PESTEL Figure 12 - Vietnamese Consumer Beliefs Figure 13 - Market Segmentation Figure 14 - Breakdown of Vietnamese Retail Market !

6 7 8 12 16 24 25 26 27 28 30 32 33 36

Figure 15 - Table of Local Competitors Figure 16 - British Competitors in Vietnam Figure 17 - 3Bs Figure 18 - Aims & Objectives Timeline Figure 19 -Drip Model Figure 20 - Brand Extension Product & PricingRange Pyramid Figure 21 - Digital Media Table Figure 22 - Gantt Chart Figure 23 - Promotional Tactics Plan Figure 24 - Budget Figure 25 - Evaluation: Quantitative & Qualitative Results !

37 37 41 41 43 45 53 56 56 57 58

Part 1

1. Brand Audit Bora Aksu 1

Brand Audit

1.1 Brand Background Market Audit

First debuting at London Fashion Week in 2002 (Knowles (2011)), Bora Aksu is the eponymous label of the London-based Turkish fashion designer. Inspired by ‘moods, feelings and his personal experiences’ (Bumpus (2011)), Aksu has created a brand focusing on women’s ready-towear. The brand’s signature style incorporates ‘femininity, grace and romanticism’ (Cannata (2010)).

Brand Extension

Producing everything in the UK (Knowles (2011)), the designer has collaborated with a range of other prominent brands such as Nike, Topshop, Anthropologie and Absolut. Whilst maintaining their demi-couture aesthetic and ‘timeless feel’ (Iles (2017)), the contemporary luxury label has also demonstrated a focus on sustainability, collaborating with People Tree (Bumpus (2008)).

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2

Brand Audit

- Timeline -

1.2 Market Audit LFW debut with first off-schedule show (Bora Aksu (2017)) Bora Aksu graduated from Central Saint Martins with a MA degree (Bora Aksu (2017))

Brand Extension

2002

2003

Designer of the Year’Elle Awards 2012 (Bora Aksu (2017)) Joined the judging panel for the WGSN Global Fashion Awards (Bora Aksu (2017))

Collaborated on the ‘Butterfly Dress’ with People Tree (Bora Aksu x People Tree 2015 (2017))

2015

Bora Aksu launched his first Asian flagship in Hong Kong in January 2017 (Bora Aksu Opens Store in Hong Kong (2017))

2017

Launch of a handbag collection (Bora Aksu (2017))

2012

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3

! ! Brand Audit

Brand Moodboard

Market Audit

Brand Extension

4 !

Brand Audit

- 1.3 Brand Identity The various facets of the Bora Aksu brand can be explored through Kapferer’s Brand Identity Prism and Keller’s Brand Equity Model, both of which help identify the tangible brand elements and customer perception, in order to better understand the brand’s strengths and weaknesses.

Market Audit

Brand Characteristics: • Distinct signature style • Described as ‘romantic with a darker twist’ (Bora Aksu (2017)) • Demi-couture • Elegant and seductive • Muted colour palettes • Turkish craftsmanship and heritage (A/W 11/12 Bora Aksu for Armaggan: collection review (2011)) Brand Core Values:

Brand Extension

• • • •

Creating niche garments Celebrating heritage and craftsmanship Sustainability Celebrating couture and luxury

Brand USP: • ‘Romantic but always with a darker twist, the demi-couture pieces are full of elegance, intrigue and seduction (Bora Aksu (2017))’.

5

6 !

Figure 1

Brand Audit

Market Audit

Brand Extension

Figure 2

Brand Audit

Market Audit

Brand Extension

Brand Audit

- 1.4 Consumer Analysis ! 1, The Fashion Connoisseur-

Market Audit

-Looking for Seasonals & Classics, Shops at Niche Boutiques, High Spending Capacity, Brand Loyalist -Sociable, Sophisticated, Works in Fashion, Attends Social Gatherings -Urban Area, Posh, Residential (St. John’s Wood, Swiss Cottage)

!

Brand Extension

- Shops at Niche Boutiques, Experimental, Medium Spending Capacity -Sociable, Enjoys Bar Hopping, Contemporary Lifestyle, Constantly On-TheGo -Urban Area, ‘Cool’ Neighbourhoods (Shoreditch)

British, 25-30, Female, High Disposable Income

2. The Trust Fund Babies-

-Limited Spending Capacity, Distinct Sense of Style, Not A Brand Loyalist, Shop at Concept Boutiques -Sociable, Active in ‘Underground’ Fashion Scene, Freelancing, On-TheGo, Lack of Stability -Urban Area, Less Posh Neighbourhood

3. The Quirky Style LoverBritish, 25-30, Female, Medium/High Disposable Income

British, 20-25, Female, High Disposable Income -Wants to Stand Out, ‘Insider Fashion Knowledge’, High Spending Capacity -Sociable, High Maintenance Lifestyle, Very High Disposable Income -Urban, Prime Residential Areas (Mayfair, South Kensington, Chelsea)

Market Segmentation!

4. The Sartorial YouthBritish, 20-35, Female, Medium Disposable Income

Based on primary consumer research conducted through a survey and focus group (Appendix I), as well as the brand analysis of Bora Aksu, the British contemporary luxury market can be split into four market segments for the brand. Based on these, the most likely segment to match the Bora Aksu customer is ‘The Quirky Style Lover’. Target Market: Contemporary luxury market in the UK Targeting: Segment 3: The Quirky Style Lover

Figure 3

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8

Brand Audit

- 1.4.1 Pen Portrait -

Market Audit

Meet Eloise Andrews, a 25 year old British female, living in a contemporary one bedroom apartment in Shoreditch. Working as a consultant in a fashion PR startup, Eloise is always on-the-go, and has a hectic, busy schedule. When not working, Eloise is very sociable and thoroughly enjoys bar-hopping and clubbing with friends. She is often spotted at the hotspots of London, like MKNY, HSE and Sketch. Eloise also likes to eat healthy, snacking on granola and fruit smoothies. She also exercises regularly in the form of yoga.

Brand Extension

As she is just starting out, Eloise’s income isn’t exceptionally high, but as a style connoisseur she enjoys saving and buying a few key pieces from contemporary luxury labels. She regularly shops at niche, concept boutiques, and knows about the latest fashion and designers. She is a brand loyalist, but does not mind venturing out to discover new labels. !

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Brand Audit

- 1.4.2 Key Customer Findings Market Audit Brand Extension

• Many consumers are not that aware about the brand, even within the UK retail market; lack of brand awareness & knowledge • Consumers also felt it was hard to know where to purchase the brand and how; again adding to lack of awareness & knowledge • Consumers felt a greater social media presence is needed to connect with a brand; innovator use is always helpful • Consumers felt HCMC & Vietnam could be an interesting market for Bora Aksu taking into account it’s whimsical, feminine & romantic appeal

10

Brand Audit

Customer Perceptions

Market Audit

In order to better understand Bora Aksu’s interaction with its customers, it is important to gauge the difference between the current customer perception of the brand and the desired one. If there’s a difference, it’s important to bridge the gap, to successfully translate brand equity.

Current Perception:

Brand Extension

• • • • • • •

High fashion Dramatic Elegance Designer-wear Feminine Flowy, romantic Individualistic Turkish craftsmanship

Desired Perception: • •

•

Same as current perception Objective to further enhance the current perception in both the preexisting market, as well as new markets ventured into Through greater customerorientation, easy accessibility & frictionless retail experience

11

Brand Audit

1.5 Marketing Mix - Product Market Audit

Bora Aksu does not offer a great range of products, but rather focuses on the ready-to-wear range, alongside a few accessories. The main ready-towear is divided into three parts; classics, seasonal and limited edition / high fashion.

Limited Edition/ High Fashion

Seasonal

Brand Extension

Classics

Figure 4

Product Range Pyramid ( Bora Aksu (2017))! 12

Brand Audit

- Place Retail Activity:

Market Audit

As a brand, Bora Aksu’s main source of retail involves flagships, retailers and ecommerce retailers. The brand recently opened a flagship in the Gateway Arcade, Hong Kong (Bora Aksu Opens Store in Hong Kong (2017)), highlighting the brand’s garments and accessories in a whimsical, feminine and romantic manner. With bright lighting and use of flowers, the ambiance is very pleasant, with the store interior incorporating the signature Bora Aksu sketches as a part of the interior and visual merchandising.

Brand Extension

However, as it is quite difficult to find Bora Aksu pieces in UK, there needs to be a greater focus on ‘Frictionless Retail’ (Kirby (2016). There is also a lack of multi-channel distribution, as Bora Aksu has few flagships, a lack of social media presence and no e-store.

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13

Brand Audit

Stockists & Flagships (Bora Aksu (2017)):

Market Audit

• Hong Kong • China • Cyprus • France • Greece • Italy • Japan • Bahrain • Kuwait • Lebanon • Saudi Arabia • UAE • Switzerland • Russia • UK • Ukraine • USA

Brand Extension !

14

Brand Audit

Bora Aksu- Online Retailers in the UK: • • !

Wolf & Badger Osmoda

Market Audit Brand Extension

Brand Audit

Price !

Market!Audit!

£ 25 Entry Point (Bora Aksu (2017))

!

&

£ 925

Limited Edition/ High Fashion (815 - 925 GBP)

Exit Point (Lace & Cotton Long Sleeve Black Dress (2017))

Seasonal (580 - 655 GBP)

Pricing Strategy: Competitive Skimming / Premium • Pricing • Reflective of brand’s equity & value •

Brand!Extension!

Classics (385 – 395 GBP)

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Figure 5

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Pricing Architecture 16

Brand Audit

- Promotion -

Market Audit

Bora Aksu’s lack of awareness amongst its target customer segment is a result of its lack of promotion. The brand’s digital media is limited, especially compared to its competitors, and the brand barely relies on traditional above-the-line and below-the-line marketing techniques. Particularly, the brand’s website is outdated and has poor website atmospherics, which confuse the consumer.

Brand Extension

However, the brand’s strengths in promotion include strong collaborations, positive PR activity and designer interviews, which help generate a positive buzz and WOM about the brand.

Brand Audit

Website

Market Audit

• Website used for informational purpose (not a means to purchase products) • it often has inaccurate or outdated information, such as the listing of Selfridges as a stockist, despite it no longer being a stockist (Details (2017)) !

Brand Extension

Website Atmospherics: • • • •

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Difficult to use & navigate Complex and unclear layout Brand image not fully translating to the site visitor Lack of information & outdated information 18

Brand Audit

Digital Media - Instagram ! • •

32, 600 Followers (Bora Aksu (2017)) Images of latest collection, behind-thescenes and brand inspiration (used as designer’s mood board)

Market Audit

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Brand Extension !

19

Brand Audit

- Facebook -

• •

Market Audit

15, 414 Likes (Bora Aksu (2017)) Similar to Instagram coverage, alongside more behind-the-scene imagery (store openings, press coverage & catwalk/runway reporting)

Brand Extension !

20

Brand Audit

- Twitter • •

7, 300 Followers (Bora Aksu (2017)) Behind-the-scenes, press and runway coverage

Market Audit

- Youtube Brand Extension

• • • •

107 Subscribers 30 uploaded videos since 2011 Fashion show and behind-the-scenes coverage Most viewed video: “spring summer 2013 London Fashion Week catwalk show BORA AKSU” with 5951 views (as of 21.01.2017)

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Brand Audit

Public Relations Press agency: Spring London (Details (2017)) à Help with getting positive press coverage Example of Vogue article (LFW: Aku’s Tailored Vision (2017))

- Interviews Market Audit

Bora Aksu, the designer, rarely gives interviews, however, time to time, he will sit down with key publications such as Drapers and Vogue Italia.

- Collaborations Bora Aksu has collaborated with People Tree to promote ethical and sustainable conduct in fashion, as well as with Armaggan, to celebrate the relationship between art and fashion. !

Brand Extension !

22

Brand Audit

Above-The-Line Marketing - Magazines -

Market Audit

Bora Aksu aims to gain positive press in the form of articles in niche contemporary fashion magazines, such as PYLOT, Something About and Jungle. However, as these magazines are considered niche publications, it is hard to reach a large readership.

Brand Extension !

23

Brand Audit

- Process As there is no e-store nor flagship in close proximity to the researchers, precise information about the after-sale service and refund policy could not be gathered. Thus, it’s hard to gauge Bora Aksu’s customer relationship processes as a company.

Market Audit

- Consumer Touchpoints -

Brand Extension

As seen by the figure, Bora Aksu has limited consumer touchpoints which translate across the customer experience from the pre-purchase to postpurchase stages. As a result, the customer is not fully able to engage with the brand, which results in a lack of brand awareness and understanding. !

Figure 6

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24

Brand Audit

1.6 Competitor Analysis

Market Audit

It’s important to assess how the brand is doing on its various facets compared to its main competitors. The below competitors were chosen on a basis of price and product similarity, as well as consumer suggestions in the focus group. Additionally, as social media appears to be a key mechanism for brands to communicate with consumers, it’s important to consider the way different brands function on social media (Appendix II). Thus, one can see where the brand needs to improve.

Brand Extension

Figure 7

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25

Brand Audit

Competitor Analysis Table!

Market Audit

Self-Portrait

Erdem

Fendi

Needle & Thread

Product

-Mainly romantic dresses -Specialise in contemporary luxury womenswear -Key brand characteristic: dramatic elegance -Focus on Turkish heritage & craftsmanship

-Contemporary womenswear -Main focus on dresses -Slowly venturing into accessories (shoes & sunglasses) -Mix of ‘femininity with a modern touch’ (Chitrakorn (2015)) -Described as ‘unfussy’ pieces (Farra (2016))

-Contemporary luxury womenswear -’Synonymous with versatile yet powerful femininity’ (Biography (2017))

-Incorporate many other product lines -Perception of exclusivity -Brand characters translate into products e.g. Fendirumi & Karlito -Financially successful products (Chen (2016))

-Core product are ‘embellished dresses’ -Use products to celebrate fashion -Diversified ranges of bridals & homeware

Place

-Hard to access products -One flagship in Hong Kong -Purchase process is not ‘Friction-Less’ -Lack o...