Campaign Plan for Topshop - Essay Example

Campaign Plan for Topshop Introduction With the advent of numerous technologies, a plethora of retail outlets has come up successfully, replacing the traditional retail way of conducting business. One of the prominent multinational fashion retailers famous for a variety of offerings is Topshop, which is based in U.K. (Barclay, 2010). In the context of Topshop, the paper would discuss a number of steps pertaining to analysis of the campaign context and would further discuss the marketing communication plan in relation to Topshop. 1. Analysis of Campaigning Context 1.1. Description of Brand; SWOT Analysis; Actual positioning Topshop is a multinational retailer of fashion products located in the U.K. that deals in clothing, make-up items and shoes amongst many others. Topshop operates in the global market, with more than 500 retail stores around the globe, apart from engaging in online trading. The fashion company has over 500 stores across the globe, a majority of which are situated in the U.K. However, as the company tries to pursue a wider market, there is a need to implement a successful communication plan. Hence, the later section would emphasize upon an analysis and implementation of the marketing plan. Strengths of Topshop include its high quality fashionable products, along with competitive pricing mechanism. Furthermore, the strengths of Topshop are majorly aligned with its innovative and creative range of products that the company offers to its customers. International brand is another important strength of Topshop, apart from the major strength of a strong media support. The major weaknesses of Topshop include its products line, which is restricted to women. Furthermore, Topshop offers a wide range of products for pits traditional customers, which can be treated as another weakness. The potential opportunities of Topshop include the increased use of internet and mobile devices around the globe. This can act as a major opportunity since Topshop can attract potential customers in online segment. Another opportunity for Topshop lies with the customers who are open to latest fashion brands and can play a major role in expanding the market for Topshop. Strong and established competition can act as a potential threat for Topshop, apart from economic downturns in home nation as well as increasing competition from rival fashion companies. The actual market positioning of Topshop is mass market, wherein, the company serves its customers located in more than 35 nations. Furthermore, the company sets lower prices for the products it offers to the customers (Moore, 2014). 1.2. Analysis of actual customers In terms of demographics, Topshop customers are mostly women, who belong to the age group of 18-35 years. Topshop customers have an annual income between $10, 000 to $50,000 and the target audience of Topshop is young, fashion-oriented customers. According to psychographics, Topshop target the customers who are experiencers and achievers, who possess a feeling of achievement and self-expression. In terms of behavioural insights, customers of Topshop have a demand for quality fashion products at a lower price point and mostly engage themselves in visiting Topshop during vacations (Heinemann & Schwarzl, 2010). 1.3. Analysis of direct competitors & their promotional activities The direct competitors of Topshop are Hennes & Mauritz ABand (H&M), Zara, amongst others. The promotional activities used by competitors include mega sales events, advertisement through TV announcements and print advertisements in magazines. Furthermore, these competitors make use of sales promotion techniques such as offering discounts in order to seize customer attention (Heinemann & Schwarzl, 2010). 1.4. PEST Highlighting Critical Market Trends Topshop has its majority of the business operations located in U.K., wherein there exists a stable political environment. Keeping in mind the terrorist activities that took place in 2005, Topshop adopted a global mass-market strategy. The presence of a regulatory framework in U.K. enabled Topshop to ensure that it faces the lowest risks by adopting a penetration strategy that would allow the scope to focus upon a particular customer market, i.e., women. Economic environment in the U.K. is stable, wherein, the presence of a stable currency has been acting as an added advantage. However, as the nation faced recession during late 2000, it has decided to set its prices higher than average. This would in turn, increase the overall garment pricing by Topshop. In terms of social environment, it is evident that U.K. has a stable social environment, with a developed economy, comprising of a majority of the educated people who have access to pro-per living standards. Since, there exists a huge possibility of rise in women population, Topshop has concentrated upon offering products especially for women. In terms of technological advancements, there is a huge scope for advancements in e-commerce retailing across U.K. Furthermore, there has been a continuous rise in the number of customers having access to mobile devices and internet, which enabled Topshop to expand itself in the online segment. Furthermore, Topshop has targeted women customers in its online segment, since women are considered most active users of shopping websites over the internet. In addition, technological advancements in the U.K., such as increased use of social media websites, enabled Topshop to expand its market through sharing vital information pertaining to the products and services offered by the company in such websites (Fill, 2013). 1.5. Previous Marketing Communication Activities Since its inception, Topshop has engaged itself in utilizing a number of techniques, which helped it gain a substantial market share and face challenges from its competitors. Topshop utilized a number of marketing communication activities, such as advertisements, promotions, publicity, amongst others. The company first engaged in associating the name and logo of the company with that of its offerings to ensure development of credibility and trust amongst customers. In terms of advertisements, Topshop gained a potential market through use of media and endorsing celebrities. Furthermore, the company adopted differentiation strategy to differentiate its products from that of its competitors, such as Zara and H & M. In addition, Topshop tried to gain access to a wider market by employing use of a penetration strategy that is focusing mainly upon the women customers. The company has made use of marketing communicating activities such as promotion through indulging and expanding itself in online segments in promoting its products over the online stores and social media websites (Perez, 2013). 2. Marketing Communication Plan 2.1. Promotional Activities and Positioning Sought A number of promotional techniques such as use of posters, T.V. advertisements and sponsorships in various events can help Topshop to increase its market share in areas of operation. Furthermore, Topshop can enlarge its market share through development of a website and applications supported in latest mobile operating systems, which would further allow Topshop to attract those ;customers who intend to shop through mobile devices. In addition, Topshop can also make use of SMS texting campaign through which the company will be able to send personalized messages to its customers. Moreover, the company can make use of advertisements for promotion through magazines, TV and newspapers. A number of sales promotion techniques are available in the domain of marketing, such as offering discounts on specific products can act as an important promotional activity. Besides, digital marketing can be another potential tool of promotion for Topshop to enhance its prominence among the techno savvy consumers of the present era. In addition to selling its products over online websites and making use of social media for informing customers about new products, the company can also create blogs and develop social plug-ins, which would enable the customers to share their feedback. In addition, as part of the public relations, Topshop can engage itself in promoting events such as charity and donations, which would enable Topshop to create a distinctive image of itself amongst its customers. Topshop can position itself in the types of organisations that are trading with high quality and low price strategy, in order to retain its existing customer base and attract more customers. In addition, implementation of the differentiation strategy would enable Topshop to restrict its competitors and serve the changing requirements of the same (Brown, 2014). 2.2. Target Group & rationale behind selecting the group With an increase in the global demands of Topshop’s wide range of products, especially in the U.S. market, the company has set up its target group as the women customers, who are aged between the age group of 25-30 years and belonging to an upper-middle or middle class families. As the company will be developing and implementing a focused marketing strategy, hence, there exists an increasing need to develop such techniques that would allow ensuring a strong customer market. Furthermore, the rationale behind selecting the particular target group is that an increasing number of customers are getting attracting towards quality fashionable products at a lower market price. In addition, Topshop has decided to span itself in the U.S. market and providing services to the U.S. customers, since they are showing a positive attitude towards the products offered by Topshop. The rationale behind selecting the female customers aged between 25-30 years is that such customers tend to develop strong attitude towards online purchasing and spend a lot much time on shopping over the internet (Lansley, 2008). 2.3. Recommend a range of marketing communication tools and rationale for the selected tools A number of marketing tools can be exploited by Topshop in order to expand the business and serve the customers by providing quality fashionable products. Publicity is one such marketing communication tool that can be utilized by Topshop in order to expand the market share and leverage customer experience. This can be done through engaging in conducting market surveys, publish annual reports, creation and participation in events along with making positive use of endorsements. The rationale behind selecting publicity is its low cost, apart from its ability to attach credibility on the part of the company. Advertising is another marketing communication strategy that can be used by the company to gain a potential market share through encompassing the target market. This would include making use of personalized mails and TV advertisements regarding the products and latest launches. Furthermore, advertisements can be posted over the internet websites and social media websites. The rationale behind selecting advertisement as a marketing communication strategy is its lower costs involved and address the wider customer segment. Apart from the aforementioned tools, sales campaign can be another strategy that can be used by Topshop as a marketing communication tool. This would enable the company to ensure that high level of awareness is ensured amongst the customers, which would further stimulate the demands. This can be carried out by way of rewards, coupons on sold products, discounts and giveaways with certain specific products. The rationale behind adopting sales campaign as a tool is that it would generate positive word-of-mouth communication amongst the customers, as a result of which, Topshop would have accessibility to a larger market share. Finally, another possible marketing tool that can be utilized by the company is direct marketing. Direct marketing technique would allow Topshop to attract potential customers, particularly over the internet. Furthermore, Topshop can make use of direct marketing for direct mail and telemarketing, apart from internet, to attract more customers. The rationale behind selecting direct marketing is that it would help Topshop to reduce its overhead and indirect expenses and help the company achieve its organizational goals (Fill, 2009). 2.4. Messages and creative concepts used and rationale behind such concepts A number of messages and creative concepts can be designed by the company in order to attract its customers. This would inculcate making use of messages such as ‘Create your own style’, ‘fashion for all’, ‘be your own winner’, ‘designed for fit’, ‘apparels for life’, love your feet’ and ‘made to style’. The rationale behind making use of such messages is to create a strong and positive perception amongst the customers and attract consumers towards the company’s offerings. Furthermore, Topshop can apply a number of creative concepts, such as advertisements through editorials, posters, banners, creation of own web pages and bus paintings. Furthermore, making use of social media websites such as Facebook and twitter, apart from creation of blogs would enable Topshop to ensure gaining a positive market. The rationale behind selecting such concepts is to attract more customers and occupy a larger market share (Grose, 2011). 2.5. Media for sending messages The media selected for sending messages is internet media using mobile applications. Use of internet would enable gaining a large market share would allow gaining a larger market and expand the existing market. Internet would be selected as the potential tool of marketing, keeping in consideration the growing number of customers purchasing apparels and fashion products over the internet. The rationale behind selecting internet as a communicating tool is to provide the smartphones users to purchase their required products without the need to visit offline stores (Lansley, 2008). In addition, the internet website would allow sharing of latest offers, use of redeemable coupons and information pertaining to latest launched products. Furthermore, use of smartphone could allow the customers to order the products online and enable Topshop to ensure customer satisfaction., The creation of blogs would enable a company to ensure that there exists a huge market opportunity, as the customers would be able to mark their preferences and the company would be able to provide services accordingly. Notably, use of internet would allow Topshop to send personalized messages to customers by way of emails and applications designed as per the operating systems in smartphones and computers. Moreover, the company can make full use of internet marketing to ensure that there exists a positive relationship amongst the company and customers (Lansley, 2008). 2.6. Creative and Original suggestions Topshop can make use of a number of techniques that would allow the company to attract customers and expand the market share. This would be made possible through creation of posters that portray celebrities wearing Topshop apparels, apart from positing in online social media websites that attract the market share through addressing customer grievances and provide a scope of introducing information on new products. Furthermore, the use of Facebook posts and pictures would enable the company to share knowledge regarding company offerings and use of banner would allow the Topshop to promote its products. Topshop can use a number of TV advertisements and online videos, depicting the use and originality of the company’s products. A number of potential steps can be taken by the company to ensure that customer satisfaction is maximized. Topshop can participate in conducting fashion shows in places of operations, which would enable the company to gain goodwill and increase the market share (Babar, Valente, St. Bonaventure University, Jandoli School of Journalism and Mass Communication, St. Bonaventure University, Division of Graduate Studies, 2012). 2.7. Provide justification to the stated promotional tools, media and messages The aforementioned promotional tools, apart from the use of internet media can surely play a lead role in distinguishing Topshop from its rival companies. The tools of advertisement, sales promotion and publicity would enable the company to gain reliability and attract a larger group of customers. In addition, such tools would enable the company to gain substantial information regarding the latest products being launched by competitors and challenge them by way of providing valuable information about the marketing techniques being used. As such, there is an increasing need to develop the ways by which company can gain the market popularity and customer loyalty. This could be ensured through the effective use of marketing strategies and enhancing communication through messages. In addition, the rationale behind creation of attractive messages is to ensure that customers are attracted towards the products, apart from creating a distinctive place in the mind of the same. The use of internet media would ensure that information regarding customer feedback and launch of latest products is made available to the customers as well as the company in a more transparent manner (Lea-Greenwood, 2013). 2.8. Cost Breakdown & Proposed Metrics Functions Time Frame Cost Breakdown (in £) Designing a communication marketing plan 2 months £1,20,000 Creation of smartphone application 1 month £20,000 Display of posters and banner 1 month £10,000 Sending messages over mobile devices 1 month £10,000 Employing advertisement channels for advertisements 1 month £50,000 Accessing internet to promote offerings 1 month £10,000 Conducting events and sponsorships 1 month £1,50,000 Endorsing celebrities 1 month £3,00,000 Designing blog to obtain customer feedback 1 month £10,000 Painting of buses for promotion 1 month £10,000 Conducting fashion shows 1 month £60,000 Total 12 month £ 7,50,000 Conclusion The aforementioned study provides a distinct overview of the marketing communication plan that can be utilized by Topshop in order to gain a comprehensive market share and establish a larger customer base. A number of marketing tools can be utilized by the company, such as advertisement and sales promotional techniques, which would enable Topshop to expand its market share in the long run. In addition, the marketing positioning is based on a strategy of low price and high quality, and the target customer group will be women belonging to the age group of 25-30 years. Furthermore, Topshop will use internet as the media for sending messages to its customers. A number of creative messages would be designed to attract the attention of customers, and gain the goodwill among consumers. Finally, the company would be able to implement the marketing communication plan successfully through appropriate utilization of the available budget. References Babar, N., Valente, B. J., St. Bonaventure University, Jandoli School of Journalism and Mass Communication, St. Bonaventure University,Division of Graduate Studies. (2012). Integrated marketing communications plan for Chanel for Topshop. U.S.: Jandoli School of Journalism and Mass Communication, St. Bonaventure University. Barclay, L. (2010). The unauthorized guide to doing business the philip green way: 10 secrets of the billionaire retail magnate. U.S.: John Wiley & Sons. Brown, A. (2014). Investigation into the current position of the Topshop business. Retrieved from: https://prezi.com/l0kzrds_les6/investigation-into-the-current-position-of-the-topshop-busin/ Fill, C. (2009). Marketing communications: interactivity, communities and content. U.S.: Prentice Hall/Financial Times. Fill, C. (2013). Marketing communications: brands, experiences and participation. U.S.: Pearson. Grose, V. (2011). Basics fashion management 01: Concept to customer. U.K.: A&C Black. Heinemann, G. & Schwarzl, C. (2010). New online retailing: innovation and transformation. U.S.: Springer Science & Business Media. Lansley, S. (2008). Top man: how Philip Green built his high street empire. U.K.: Aurum Press. Lea-Greenwood, G. (2013). Fashion marketing communications. U.S.: John Wiley & Sons. Moore, J. (2014). Complete Topshop presentation. Retrieved from http://www.slideshare.net/JessicaMoore10/complete-topshop-presentation Perez, J. (2013). Case study: Topshop [NYU]. Retrieved from http://www.slideshare.net/julienperez/case-studies-topshop-nyu Read More