The Contemporary Issues In Branding Marketing Essay

The Contemporary Issues In bulls eyeing Marketing EssayINTRODUCTIONThe history of the put up capital of Minnesota metalworker is somewhat unusual and requires special attention. thus capital of Minnesota metalworker was not originally made for the world of Haute Couture Fashion there but fate led him to this path there. Originally capital of Minnesota smith wanted to be a professional cyclist but a terrible accident befell him which forced him to abandon those dreams. But he conceived a passion for fashion and sewing, so in 1970 he opened a small clothing store in Nottinghams hometown away from big name fashion establish in London. He decides to take evening classes in sewing and in 1976 he introduced his manpowerswear collection in Paris under the capital of Minnesota metalworker spot.In 20 years it is established as the British useers most prominent. He succeeded brilliantly blend with the contemporary and traditional British while anticipating trends beautifully. capital o f Minnesota Smith has the ability to anticipate, and even spark off trends not exactly fashion goal in the wider context of popular culture (website Paul Smith 2009). now the scar has 12 contrary collections, boutiques worldwide, a turnover of 171 m and sales atomic number 18 growing in the midst of 50-60% since 1993. (S Bruzzi and PC Gibson 2005). However this success was no accident. onwards discussing the strategy of the brand Paul Smith, we be interested in what a brand means. Indeed for (American Marketing Association 1960) is a trade emphasise a name, term, design, symbolism or any separate features that identifies one sellers good or service as distinct from other sellers Those gold. This means that each brand is unique and requires the consumer to guard to it. A man does not give a woman a box of branded chocolates Because she is hungry. Instead, he selects a brand that communicates something about his relationship with her. (Leslie Chernatony and Malcolm McDonald ). In addition to a successful brand to penetrate the trade it mustiness develop a sound strategy A brand can not function without a strategy.(CIM)In this sense we go forth establish brand strategy Paul Smith and try to find ideas for future development.The dirt indentity, Brand OnionThe strategy of a mark as said above prominently. Indeed the goal of strategy is to obtain a competitive receipts in the marketplace. From (Arnold, 1992) strategy for a brand is the means by which have established the brand in the consumers mind that he has the impression that the purchase gives it an advantage. In addition, a consumer generally does not retain 3 brands per category of convergence where the goal for Paul Smith to be part of those 3 brands in this market passing fragmented and highly competitive. The strategy chosen by Paul Smith is to position itself behind a mark of luxury.To understand the process undertaken by Paul Smith would be wise to start with the Brand Onion Analysis is a tool for studying the brand identity. This tool represents a cross component part showing the different layers of positioning the brand Paul Smith. So we have a side position which represents the internal brand identity and positioning the other side shows the external forecast. However this computer simulation is far from complete since it does not incorporate the concepts of competition there is the concept of customer brand perception vane ONION PAUL SMITHWhich brings us to the theory of which Kapferer celoni to know the real identity of the brand Paul Smith must answer 6 questions ar What is the brands particular aim?, What adverts it different?, What is the need fulfilling brand?, What is its permanent nature?, What are its value or values?, What is its line of products of competence? Of Legitimacy?, What are the signs Which make the brand recognizable? (The in the raw strategic brand management, Kapferer, 2004). By answering the questions we see that Paul Smith is pla nning to focus on the legitimacy of products with unique luxury design very British. What can be said that the brand Paul Smith is building a true identity which has not changed since its inception. For proof, all these shop ats are the same worldwide. Furthermore it keeps a certain closeness to the customer because he does not hesitate to get out of these offices in the shop in London to advise customers on clothing or accessories. (Paul Smith website).The graphic brand also occupies an important place in the strategy of a mark to it which allows it to recognize a particular brand to a consumer and shall convey universe. Choosing symbols requires a clear definition of what the brand means (The New Strategic Brand Management, Kapferer, 2004, p 174). To brand Paul Smith that is characterized by the features of different colors.Following this we must determine the image of Paul Smith from Riezebos (2003) networks of knowledge elements stored in large term memory What mean all infor mation of a mark stored in the long term and it gives credibility to a brand then the Paul Smith brand that is equivalent to the authenticity of a traditional British bolt, a luxury brand, International, contemporary lines of many colors dear, close, special design, fashion and persona at last.PositioningA brand to thrive in the marketplace must know its position. How To (Keller 2003). For this we use the points of parity and points of difference more generally cognise as POPs (point of parity) and PODS (points-of-differences). For the POPS we look at what is similar compared to these competitors and the PODS we look at what makes the difference. According to (Keller 2003) a mark must know who are the targets, competitors and how the brand is perceived by the consumer. The Paul Smith brand is therefore in a position of luxury, as well as traditionalism contemporanee, quality, unity of design which makes a mark rich, bold and authentic because it has managed to keep its guideline for it. This allows the consumer to recognize in Paul Smith a sure bet that a true story and odd expertise.DifferentiationBrand usually chooses the specialism strategy because it is a good way to outperform to their competitors. By differentiation it means superior quality, brand image or unique features. And as said Levitt (1980) there are four main phases of differentiation as followingPotential product = product with brand universeAugmented product = Products with some differentiationExpected product = Basic expectations productsGeneric product = store brand productsIn others words, when we use this model to Paul Smith, generic and expected product is a base store brand t-shirt. Although augmented product is a high quality and special design for a t-shirt and potential product is the same one t-shirt with some brand image and universe (values, identity).That is why it appears clear that Paul Smith offers a large range of potential product. Indeed, Paul Smith is a luxurious fa shion brand but their offering is quietly different to Kenzo or Hugo Boss. Behind the purchase of Paul Smith clothes customer wants to buy design, quality, and history or also brand value What are property to Paul Smith.And this differentiation strategy is Paul Smith roots without this Paul Smith does not exist or exist as a basic fashion brand.Brand extension and architectureBrand extension is when a company chooses to diversify their range of products by appealing to different segments and a ofttimes larger audience. (Keller 2008) say using sub-brands to target new market segment within the same product category.There are two main types of diversification link (which introduces products in the same range) and unrelated (which launches in different range).As Paul Smith is a famous fashion brand with a clear differentiation strategy, extend it would be easier by using brand notoriety through the launch of sub-brands to target new market segment within the same product category. A ctually the fact to diversify its offers is a well-known practice which aims to gain market share.Therefore, people who particularly enjoy the Paul Smith colored lines and biography they could also have the choice in a larger range of products built as followingPaul SmithFragrance lotionAccessoriesWomenswearMenswearBags, purses, wallets,baggageSpectacles and sunglassesShoesFurniture rugs, chinaHats, scarves, gloves, socksCufflinksWatchesBooksStationaryPaul metalworker gifts collectionchinaWatchesJewelleryPaul smith jeansPaul smith red earPS by Paul smithPaul smith LondonPaul smith mainline menPaul smith swimwearPaul smith underwearPaul smith manPaul smithwomenPaul smith rosePaul smith sunshinePaul smith extremePaul smith blackPaul smith, mainline womenPaul smith byPaul smithPaul smith swimwearHence, between all their sub-brands and whatever the segment or also the products there is coherence. Indeed, they all own to Paul Smith brand and then respect the brand image, values, style in a whole. This extension allows Paul Smith to increase their global sells and thus gives to the brand the opportunity to gain new customer. That is why, Paul Smith brand extension means more products but also more notoriety.Question 2The market for haute couture is to fashion is a highly competitive market that is everlastingly changing, leaving room only brand who knew the value and who managed to speak with her. We will try to find solutions for 5 and 10 years for the brand Paul Smith manages to pick out itself from other brands and thus register more in his style and values that make Paul Smith is a unique brand.To establish a sound strategy and propose ideas axis to follow it must first know the fashion market, but also all the strengths, weaknesses, opportunities and threat of brand Paul Smith. We have therefore identified in the table below represents a SWOT and marketing mix with all these data.Then the fashion market is one hundred thirty billion euros in 2007 (Eurosta f, 2007), it is segmented as follows volume. 15.9% for the Ready to Wear, Glasses 7.9%, Jewelry-watch 11.8%, 10.4% Leather, Footwear 3.9%, 3.1% accessory, Art House 1 4%, 23.4% and Wellness Wines and Spirits 22.5% (Eurostaf, 2007). However we must also consider the geographical location of purchasing volume to provide new routes to follow consistent. America represents 33% of sales 29.1% Asia, Rest of World 2.4%, europium 35.5% (Eurostaf, 2007).According to the figures and SWOT brand Paul Smith must mark covers a solid strategy and consistent differentiation in order to differentiate themselves in the short and long term.Collection (5 years)In this sense, and after the first analysis the brand Paul Smith should start in a new childrens collection, baby to broaden its range of consumer and thus differentiate themselves. However this style of collection already exists for large brand like Kenzo, Christian Lacroix and therefore it will be difficult to prevail in this new market for al ready occupied by a great brand.Then it would be wise to make the brand more affordable timely example by creating special collections for large chains ready-to-wear such as H M and Sonia Riquiel. The advantage is that it does not cost very expensive to design for Paul Smith, more than it helps to know the brand to a wider range of people since it affects all socioeconomic classes and therefore it allows it to include brand in the minds of people, which allows it to know more.Emergence (5 10 yearss)One notes from the figure that the Asian market represents 29.1% of share volume and the rest of the world represents only 2.4% so it certainly would make sense for the brand Paul Smith to extend further more in the Asian market by enterprisingness such stores in Vietnam, India, China or Russia are countries undergoing expansion and economic growth. Also Paul Smith knows well the Asian culture and the market having already great reputation in Japan. He could easily adapt it to end thes e new market very applicant Luxury.Fair-Trade (10 years)Ecology, organic products and fair trade are Fashionable. For Paul Smith is a chance to differentiate itself from other brands. In fact any luxury brand clothing offers no organic or fair trade. It would be very interesting to offer clothes from organic cotton and fair trade as it is more justified are brand contemporary and traditional British register that fact in the times by offering luxury clothing but environmentally conscious and men who produce these fabrics. Also this will make mention of the brand Paul Smith tends the founder of a new market niche.Communication (5 yearss)The Paul Smith brand communicates only rarely and not at all entered into a system of advertising increased as one might see in any other brand. But even if that differentiates it from other brands it might in the long term to be forgotten and so therefore get danger. To keep down this it is imperative that the brand continues to propose partnerships with various industries positioned in other markets. Furthermore it would be wise to make a Sponsorship with great charity as the shake up against cancer and the fight against AIDS, which allow the brand to communicate citizen in the eyes of consumers and thus differentiate it from other brands Luxury to attract more customers. Finally, to continue this communicating it is interesting that regularly offers worldwide shows presenting the new collections but also with the spirit Paul Smith with partnerships. Furthermore it could provide food for charitable continue stigmatization citizen.ConclusionThe Paul Smith brand is a brand in itself and deserves his place among the greatest of Fashion. She knew how to combine a knowledge uncommon and has kept a single guideline that has originality. Despite increased competition she knew her escape unscathed by conveying an image identical across years. Nevertheless the figures show that the market is changing and it would be wise to find a n ew segment to differentiate itself from other brands. In the mainstream located above it will have a strong chance to continue in the next 10 years or even become a pioneer in some field and therefore develop a model for other luxury brands.