Презентация на тему "Dynamics of Luxury Industry and Business Models"

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  [ Group 2 ] Leyu QIU Jingjiao ZHANG Marine VN Olya TKACHENKO Romy ROISIL Yen-Cheng LIANG Ying XIAN 02/11/2012-03/11/2012 Hip BAGS Dynamics of Luxury Industry and Business Models

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  3 Key Words: Artistic Prestigious Unique Slogan：Be Different Be Unique 2

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  PART 1PRODUCT INNOVATION

  Segments Targets Marketing Mix Product Price Place Promotion 3

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  Segmentations and Targets

  Business Woman success, independent, elegant, self-indulgence Elegance(Line 1) Young Generation (female/male) confident, opinion Leader, open-minded, energetic Young(Line 2) 4

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  Marketing Mix - Product

  Material: Crocodile * The most treasure material, unique, tough, durable Elegance(Line 1) Material: Traditional leather * Useful, the texture is warm, popular, not too expensive Young(Line 2) 5

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  Elegance(Line 1) Size(4) Color(5) - Brown - Gray - Black - Dark blue - Beige Noble, elegant, gentle, steady-going, serious, durable, suitable for all kinds of clothes 6

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  “7 colors for 7 days” bag: bright colors for young segments - orange: Monday (not blue Monday again!) - violet: Tuesday (attending banquet) - turquoise: Wednesday (feel relax in the middle of week days) - red: Thursday (party time!) - yellow: Friday (the week days finished) - pink: Saturday (dating with valentine, lovely) - green: Sunday (access the nature) handle: brown leather + sliver / gold metal (not get dirty easily, durable) “Make your own bag!” 7 7 Size：Medium the most flexible size, can be used for all purpose (office, dating, travel…) W 38cm H 28cm D 18cm Young(Line 2)

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  Marketing Mix - Price

  Elegance(Line 1) 8

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  9 9 Young(Line 2)

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  Marketing Mix - Place

  Flagships store The innovation will be in the flagship store the first 2 weeks and then, one week later, opening of the Pop-Up store rue du Faubourg St Honore during 2 months. POP-UP store description: 2 rooms in two different levels/floors (6 meters): Common theme: art - One room for color bags: flashy colors on walls, bags hold from the top, pink carpet for podium, DJ, bar, movie on the background, bags stick on the walls like pop art. - Other smaller room for elegant line, more intimate to create a intimate atmosphere. With a big statue of 3 meters high divided in 2 parts (one like a business woman and another one with a party and fancy dress: our 4 bags will presented in the same statue) - Private room for business woman if they want to try bags. To attract people from outside we decided to put bags’ speakers at the entrance of the Pop-Up store, with music and lights’ spots. 10

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  Marketing Mix - Promotion

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  13 13 a) For media representatives Purpose:to create loyalty from the media representatives to make public resonant Location: Flag store organizing the fourchette, jazz concert presentation of our new collection (2 new lines) by our ambassadors (Teri Hatcher – classic collection; Alexa Chang, Ashton Kutcher – young collection) Content of the presentation: -descript the concept of two new lines, celebrities attitude and feelings they experience by using new items; announcement about the pop-up store (which will be opened 10 day after the presentation) during the show not all the items have to be presented, some of them are keeping to save the intrigue till opening the pop-up store. Our guests:editors of the top world fashion magazines famous fashion bloggers fashion journalists (1) Event

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  b) For the customers Purpose: to create customers loyalty to attract new customers to improve customer’s awareness about the brand Location: flag store How to reach customers: for loyal customers: by sending the invitation cards (designed in our company style) by post for new customers: send email invitations to people who are register on companies website (but still not our customers); put invitation on social sites (Facebook, Twitter)▬► if the potential customer is interested in coming ▬► customer sends the request ▬► get his personal invitation by email. Entertainment activities: organizing the fourchette, jazz concert ambassadors of the brand participate in the event (mini conference about benefits of the brand items) fashion show to present new lines and remind about the classic items lottery (each guest will have a chance to win an item) ▬►each invitation will have the number, and at the end of the event the winner will be announced   (1) Event 14

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  (1) Event (Invitation) 15

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  Outdoor advertising with company’s ambassadors in prominent locations (near the flag store) (2) Outdoor Advertising In the top fashion magazine (image advertising, the article about the brand, cover page) (3) Advertising in Magazine Developing the company’s web site, Facebook, Twitter, fashion blogs, contextual advertising (4) Internet Promotion Award ceremony, provide items to celebrities during the events (5) Sponsorship 16

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  Elegance(Line 1) Celebrity Teri Hatcher is attractive women who successfully combined different roles of mum, wife and wonderful actress. She wise and mature lady, who is very classic and chic, but in the same time sophisticated. She is the reflection of our new crocodile collection which is very classic and elegant, which created for women who know what they want. For women, who understand the true values of life. 17 Teri Hatcher

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  Celebrities- They are total reflection of the styles. They are successful, purposeful, open-minded and young people. They are representatives of the new generation which is opened for the changes, confident in their future and have brave ideas, dreams and plans. That is why they are best ambassadors of our colorful collection, which suggests to be different 7 days a week, to be bright and outstanding, to make a choice. Young (Line 2) 18 Alexs Chung Ashton Kutcher

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  PART 2SERVICE INNOVATION

  Boutique Environment The Clientele Customer Appreciation and Loyalty Mystery shopping VIP Treatment Selling Progress Staff reward 20 Customer Profile Customer Interaction _ 4 stages Customer Service Customer Point of View CRM Sales steps Handling Complains

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  Boutique Environment

  POP Store Red carpet Product line 1 Product line 2 Store room Music Rest zone Statue Cashier VIP Salon 21

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  Normal Store Product line 1 Product line 2 Store room Rest zone Cashier VIP Salon 22

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  The Clientele

  Customer Profile Geographical criteria Socio demographical criteria Behavior criteria 23 -Country: USA -Region: New York City -Number of shops: 66 Stores + a Pop Up Store for two months -Age: from 20 years old -Sex: Male and Female -Cycle life: married and single -Annual revenues: from 50,000 EUR -Nationality: American and travelers from main China and Japan -Level of education: medium and high level -Style of life: active and positive -Personality: fashion, sophisticate, elegant -Purchase situation: occasional due to the price of bags -Advantage research: commodity, prestige, quality, excellence -Level of utilize: everyday -Loyalty: High -Product relation: Intimist because customers usually want to buy several product of a same collection

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  Customer interaction __4 stages: Initiation, Integration, Intelligence and Value creation. Those stages allow the company to ensure its brand promises, its brand processes and then the customer experience. 24

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  Customer Service 25

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  Customer appreciation and loyalty

  How to obtain customer point of view? Establish a great first contact and maintain relationship with existing customers. Try to keep the same employee the customer had before Customized speech, make each customer unique Ask, listen and then recommend or get information Create a database Send surveys and newsletters by email to maintain the relationship after a first contact or even with existing customers Questioning customers during the selling process (asking them what they like on our products) If loyal/existing customers, try to have a follow-up conversation and also ask them if they would have some advices to give At the payment time, try to make them fill in a survey and obtain information about the brand, the store, the employees, the products… Make a non-selling follow-up call to get information, satisfaction or not (customer after sale service) 26

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  What kind of database to set up with which info (CRM)? 27

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  Mystery shopping

  100 criteria into 6 parts (Boutique environment, Welcoming, Services, Sales person, The sale, Cashier) 28

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  VIP Treatment

  Classic ornament (wall, oil painting…) Classic furniture (sofa, table, exhibition stand……) Soft light (Warm, confortable……) Carpet (Iran……) Color (brown……) Meeting from the airport Private consultant _ fit for the customer’s stylist Articles made to order _ customers’ names, personalities Precedence _ limit the quantity of the products VIP repair & maintain policy Wines & sprites VIP salon description Which different offer as special services 31

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  Selling Progress

  Sale steps Arrival of the customer in the shop: Nous laissons le client decouvrirseul le magasin Nous le sollicitons pour toute aide lorsque nous voyonsquil commence a s interesser a un produit, lorsque nous voyonsquilsembleperduou hesitant Nosvendeurssontavanttoute chose des conseillers et veritable “ambassadeursporteur des valeurs de la marque” qui veillent a repondre a toutes les interrogations des clients Nous engageons la conversation de maniere cordiale, avec toutes les formes de politesse … Etablissement d une relation avec le client Dans le cas d un dialogue reactifentre le client et le conseiller, la premiere etapeest de mettre a l aisenotre client Il estnecessaire de creer un relationnel de type “empathique”, celavalorisera le dialogue a sesyeux Exempled’entrée en relation : “ Bonjour, en quoi puis je vousetre utile?”, “Bonjour, c est avec plaisirque je vousaccompagnerai” 32

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  Sale steps Comprehension of customer expectetions L identification claire des besoins est essentielle. Pour cela, le conseiller doit imperativement: ecouter le visiteur, montrer de l interet pour sa recherche, l encourager a parler en posant des questions ouvertes dans le but de collecter un maximum d info sur ses attentes La reformulation des besoins doit etre faite afin de s assurer de la bonne comprehension avec le client Les besoins doivent ensuite etre valide par des questions fermees Exemple de questions ouvertes: “en quoi puis je vous etre utile?” ou “ Puis je vous poser quelques questions afin de mieux comprendre vos besoins?” Exemple de question fermee : “ si j ai bien compris vous recherchez … c est bien cela ?” Proposal of a coherent response Apres l ecoute et la comprehension des besoins du client, nous pouvons passer a la phase de conseil produit ou proposition Exemple d introduction a l offre commerciale: “sur la base de ce que vous m avez indique, je vous recommande …”, “je pense que le produit XXX correspond a vos attentes” Il faut ensuite que le conseiller s assure que l offre proposee corresponde bien aux attentes du client : “ que pensez vous de XXX” … 33

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  Sale steps Up sell and cross sell Le role de notre conseiller est essentiel dans cette etape car il pourra essayer de faire acheter plus de produits a notre potentiel client. Exemple : “compte tenu de ce que nous nous sommes dit, je pense que ce produit serait un excellent complement …” Si le contexte ne s y prete pas, il faudra poursuivre vers la conclusion. Conclusion of the sale Il s agit de l etape ultime dans le processus de vente. Le client doit disposer de toutes les informations necessaires pour repondre a son ou ses besoins. Le conseiller doit maintenant verouiller la vente. Pour cela, il peut aborder la methode suivante: “je vous propose si vous le voulez bien de vous conduire afin d enregistrer votre choix” La reassurance et la prise de conge Une fois l achat realise, notre conseiller se doit de reassurer le client dans son achat Exemple : “ je suis sur que vous serez tres satisfait de votre nouveau sac” et “ nous restons a votre entiere disposition pour toute eventuelle question future” 34

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  20 Possible Complains

  Staff complains You don’t take into account my requirements ! You don’t answer my question regarding the product, I need more information if you want me to buy it ! I need a translator, I can’t understand you ! There is no free staff to help me ! Product complains I am against the using of animals skin ! I am not sure about the quality of your products ! It is too expensive ! You have the same products of your competitors ! Similar design ! Service complains I saw this item on the website but I can’t find it in the Store ! It is too long to wait when we have a problem with a product ! I need my bag ! I want you to send my product home ! I am loosing my time waiting for you ! Environment complains The music is too noisy ! The decoration is always the same ! I don’t like the perfume of this shop ! The visibility of the product is not clear ! Promotion complains I spend a lot of money in your brand but I didn’t receive an invitation for your special events I don’t know the celebrity of your brand ! Who is she ? I can’t see booklet ! I received your invitation too late ! 35 Selling Progress – Handling Complains

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  Staff complains The music is too noisy ! You don’t take into account my requirements ! There are too many customers, the staff will try to find the way to solve the requirements, please be more patient. You don’t answer my question regarding the product, I need more information if you want me to buy it ! We have special brochure to explain, if you want, you can have it I need a translator, I can’t understand you ! English is the official language. There is no free staff to help me ! The sales person have to predict this, and if they don’t, apology and suggest the customer to sit on a sofa to have a drink. Ask want they want to try to find a quick solution. 36 Selling Progress – Handling Complains

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  Product complains I am against the using of animals skin !Since the animals are mainly raised for the purposes of food, the leather is the by-product of the animal husbandry. Also, the originality of our material are all from licensed providers that the animals live in a good condition and without abuse. I am not sure about the quality of your products !We provide warranty for all our products. The after-selling service is also available in our operation hours. You may also call us at toll-free number. It is too expensive ! The product has good quality and reputation. Comparing to other product, It’s worth to have our product with durability and prestige image. In addition, if you became our VIP, there are many special events or rewards for you. You have the same products of your competitors ! Similar design ! We design our product with our own designers. All of the product are close to the fashion trend. It also happens in other brand. You may also find the similar fashion elements in other brands. 37 Selling Progress – Handling Complains

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  Service complains I saw this item on the website but I can’t find it in the Store !This item is so popular that it just has been sold out, but the factory is hurry to produce them and deliver them as soon as possible. You may leave your contact information so that we can inform you at the first time when they arrive. It is too long to wait when we have a problem with a product ! I need my bag !The product is made with high standard that it may need more time to produce in order to give the most satisfaction to our customer. If you are our VIP customer, we may provide a another item for you temporarily until this item arrive. I want you to send my product home !We can send product to customer’s home if the annual purchasing amount reach some amount. If not, the customer still receive product at home by paying delivery fee. I am loosing my time waiting for you !We appreciate your patient and understanding. We will service you as soon as possible. If you are planning to leave, would you mind leave your contact information, so we may service you when you are available. 38 Selling Progress – Handling Complains

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  Environment complains The music is too noisy ! Dear Sir or Madam: we are sorry to hear that you didn’t enjoy the music in our store. It’s our oversight. We choose that type of music because we want to express our enthusiasm and to make you feel relaxed. But if you think the music is too noisy to bother you, we will change it to softer type. We do hope that we can meet your full satisfaction when you come to our shop again. The decoration is always the same !Dear Sir or Madam: thank you for pointing out the problem of the decoration. After our discussion, we decide to change our decoration as the season changes. And we are also happy to receive the advice of the perfume for the shop from you. We do hope that you will enjoy our changes in decoration when you come to our shop next time. 39 Selling Progress – Handling Complains

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  Environment complains I don’t like the perfume of this shop !Dear Sir or Madam: we are sorry that you don’t enjoy the perfume of our shop. In consideration of your feelings and after discussion， we decide to change the perfume which you may like once a month. We do hope that you will enjoy our perfume when you come to our shop next time. The visibility of the product is not clear ! Dear Sir or Madam: Thank you for your notice, we will change some parts of products’ location if possible. Would you like to share precious ideas with us, please feel free to give advice? 40 Selling Progress – Handling Complains

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  Promotion complains I spend a lot of money in your brand but I didn’t receive an invitation for your special eventsIt depends on the spending record of the customer. If this customer’s spending has almost reached the minimum standard, we should give her/him the invitation conditionally, since they are really interested in our product and could be the potential VIP in the future. Otherwise, refusing her/him politely. The flexible policy may be like this: 41 Selling Progress – Handling Complains

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  Promotion complains I received your invitation too late!Since these customers are really care about our products, we should thank them for their attention. Then explain the operation process to them politely. If the customer didn’t attend the event in the end, we may still sent them the materials(brochure) and souvenir after the event. I don’t know the celebrity of your brand! Who is she?The preference or the awareness of the celebrity is a subjective question. In this situation, we would like the service representative change their role to be like a friend to listen to and speak to the customer. Our representative may remind recent shows or movies the celebrity played. At the meantime, our representative may ask the customer who is best candidate to be the spokesperson for our brand. Then tell the customer that we cherish their opinion and take it into consideration in the future marketing planning. I can’t see booklet!We may introduce our official website information to the customer. Before that, we may design some interesting interaction or providing lucky draw in the website to induce the customer visiting there instead of requesting booklet. We also may emphasize the importance of environment protection to make the customers not request the booklet. 42 Selling Progress – Handling Complains

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  Staff reward

  30% off on products 70% off on not sold not products Challenges give to employees to reach an amount of sales and if reached, higher income for 2 months 43