Speedo Marketing Stratergy
SPEEDO INDEX Sr. No| Topic| Pg. no| 1.
| Marketing Objectives| 1. | 1. 2| Ansoff Matrix| 1. | 1. 3| Unique Selling Proposition| 3. | 1. 4| Point of Difference| 4. | 1. 5| Point of Parity| 4. | | | | 2. | Marketing Program| 5. | 2. 1| Product| 5. | 2. 1. 1| Lines to be introduced| 5. | 2. 1. 4| Quality| 11. | 2. 1. 5| Packaging| 12. | 2. 2| Promotion Strategies:| 14. | 2. 2. 1| Online and Print Media Promotion | 14. | 2. 2. 1 | Outdoor Promotion| 16| 2. 2. 2| Digital Media Marketing| 17. | 2. 2. 3| PR Activities| 18. | 2. 3| Price| 19. 2. 3. 1| Pricing Strategy | 19. | 2. 3. 2| Price Range| 19. | 2. 4| Place| 20. | 2. 4. 1| * Store Setup| * Facilities| Store Display| Store USP| | Location| 20. | 3. | Financial Budgeting| 23. | | | | Marketing Objectives The Ansoff Model: Existing Market – Product Expansion Speedo Ltd. is a manufacturer and distributor of swimwear. Speedo brand can be found on products ranging from swimsuits and goggles to wrist watches and MP3 players is established in the swimwear market as one of the leading brands of the world.
Being in this industry since decades now, Speedo has a very high brand value and is consistently rated as one of the top 100 brands in the world every year. In today’s world technology is being updated by every second and hence a company needs to keep itself in tune with the technology and happenings of the world and strategize accordingly. Hence Speedo uses the PRODUCT EXPANSION strategy which means that it has an existing market but has to expand its operations and product range and diversity as time progresses.
Indian Market – Market Penetration Speedo may be very popular amongst consumers in India but it is still a new company in the market as a whole keeping in mind the Indian swimwear market. This is the reason why the market penetration is recommended in this market. According to the Ansoff model this strategy is used when a company is well established but enters a new market in which it is still young and needs to penetrate in the market in keeping with new marketing strategies and existing market situation. Unique Selling Proposition
Whenever one utters the world swimwear, the first brand that comes to mind; is Speedo such is the phenomenal fan following of this brand. Whenever there is a Speedo swimwearon television, men and women the world over, tune in to catch the latest trends in. The plus points of a big swimwear brand like Speedo are proportionate pricing, a mind boggling range of sizes, including extra large sizes for overweight women and cup A sizes for beginners, opulent and mind numbing designs coupled with fantastic fits. The USP of Speedo is the: mix of goodlooking swimwear and practicality, which makes it possible to think of everyday wear as well.
Point of Difference: * Fun, Comfortable, Athletic Speedo will be one of the very few swimwear brands in India with that Brand Image. Products sold at Speedo are diverse (from swimwear to body care and accessories) are Vibrant and well packaged, unlike its competitors. Point of Parity: * There are a few elements that Speedo would wish to borrow from it’s competitors to incorporate into it’s business model: * Attention to comfort * Introduce body shaping Products * Concentrate on store interiors and display. Marketing Program Product
Speedo India will have a varied range of products on offer; these consist of in addition to the swimear which is there in various sectors in India: * Swimsuits men/Women (Racing,Training,Triathelite,Competitive Equiqment,Fina approved suits, Swim Fitness) * Trunks * Fitness Range/Body care(Health and Well Being, Speedo sculpture,Accessories,Aqua Active, Play and fun) * Accessories * Speedo Digital (Aqua beat MP3 player, Aqua Coach) All Speedo products are benchmarks in terms of design, functionality, sustainability and comfort above all.
As Speedo is opening up just its first store in India the product range will be limited to 3 world-renowned collections. Lines to be introduced: Right Fit SMOOTHER. SEXIER. BETTER THAN EVER Curves Description: Stretch-to-fit conforms perfectly to your body so all you see is curves; This swimwear fabrics are selected with quality, innovation, technology and creative freedom in mind, to ensure we provide only the best selection for our customers. Our fantastic range of swimwear is for both girls and guys. With a large assortment of fabric colours and prints, you’re sure to find more than one to choose from.
Immerse yourself in our wide variety of fashionable designer swimwear, from one-piece bathing suits to bikinis, and coordinating accessories. 2012 is awash in a wide palette of colors, textures and prints in our women’s swimsuits as well as in our men’s swimwear. At Swimwear Boutique, we carry high fashion designers who offer complementing accessories. We also provide bathing suits that are appealing to a wide variety of interests, proportions, and ages. Our collection includes one-piece swimwear, bikinis, two-piece swimsuits, and coordinating bathing apparel for women, juniors, and misses.
Explore our designer swimwear silhouettes and create your fashion forward wardrobe and embellish your favorite women’s swimwear or junior swimwear with a sarong, shirt, pant, and other swimwear accessories. Features: * Weightless * Maximum nipple * Nylon ; Spandex/Lycra * Adjustable straps * Underwired cups if needed * Front closure Sizes available: Xtra small,small,medium,Large,Xlarge – 40 DD Colors available: Featured Products: * Swimwear women * One piece/Two piece 1. GLAMOUR BY SPEEDO THE GLIMMEROUS TOUCH OF GLAMOUR. Description:
The glitter with a combination of laced edges and self-embroidery gives you a classy touch adding glamour to your swimwear. The label is aimed at sophisticated women of all ages who demand high-quality and high-fashion in equal measures. The collection hits a fabulous note that is sexy, and also flattering and comfortable. Glamorous not only features stunning contemporary design, the range also offers subtle support and control which gives our clients the body confidence to enjoy their new swimwear on all occasions – whether basking in the sun poolside, on a yacht, or at a resort bar as the sun sets.
The inaugural collection features fashion-forward colours, and a beautiful variety of one-piece maillot swimsuits, and mix ; match bikini separates. Features: * Underwire * Heavy look with a comfortable feel * Sexy shapes Sizes available: Small, Medium, Large. Colors available: pastel shades and solid colors with multi-colored lacing and embroidery Featured products: * Swimwear sets 3. Speedos tie up with designer brands Description: At Speedo we plan to tie up with a designer and provide our clients with exclusive swimwear No matter what your preference, you’ll find a swimsuit at Swimwear Boutique. com.
Our suits will capture the essence of your femininity and accentuate your best features. e represent the most unique styles and highest quality products available. Molly Brown’s is approached by hundreds of designers each year to retail their lines in our store. Our buyers select only a limited number of the world’s best, not fifty or a hundred like other swimwear retailers. Most of the designers we carry use only the most luxurious imported fabrics and custom hardware. Specialty swimwear has become main stream in high fashion and designers have enhanced their lines by producing beautiful dresses and resort wear.
Ensuring our clients receive the exact style and fit they desire, both in store and online, is key to our success. Due to our outstanding personal and professional services, most first time buyers become long term clients of Molly Brown’s. Features: * Reversible * With gel curve * Extreme plunge push-up * Various color ; print combinations * Unique border shapes * Extreme comfort with seam free, label free ; stitch free technology Sizes: Available in all sizes Featured products: Swimwear for men and Women Featured Designers SHIVAN ; NARRESH’
These designers werelaunched in Cannes at ‘Mare di Moda’ with their 100% stitch free line called Insectoid. ‘SHIVAN ; NARRESH’ has a unique signature style that is bold, confident ; sophisticated. Flawless lines, undisputed eye for detail and utter sophistication are words that could be used to define the brand. After the launch in Cannes, the duo shifted their studio to India, and became India’s first mainstream beachwear designers doing 100% handcrafted stitch-free swimwear and ready to wear made all in 100% Italian swimwear fabrics and complementing resort wear.
Currently based out of New Delhi, SHIVAN Bhatiya mastered the art of leather corsetry and accessories for four years from National Institute of Fashion Technology, New Delhi, learning the functions and craftsmanship of leather in women’s wear lingerie. While NARRESH Kukreja specialized in women’s wear for four years in Fashion ; Textiles. Subsequent to their graduation, they worked in the fashion Industry for a year before being awarded scholarships to complete their Masters in Milan ; Rome at the Istituto Europeo di Design in ‘Fashion ; Textiles’ ; ‘Luxury Marketing’ respectively.
SHIVAN ; NARRESH are recipients of several awards in recognition of their design ; creativity. The duo were discovered in 2006 by MITTELMODA, the oldest Italian talent search organization, based in Gorizia, Italy through Mittelmoda International Beachwear Awards in Bali. They are winners of the World of Wearable Art Awards, Wellington, New Zealand(‘06), the SWAROVSKI Most Creative Designer of the Year (‘07) at the NIFT Graduation; Debutant Designer of the Year(‘07) at India Fashion Week. 4.
Exclusive Customisation Custom Made Swimwear manufactures all of its swimwear Let us take the frustration out of buying a swimsuit and help you find the perfect fit. We offer styles for every shape and size, specializing in large cup sizes, plus sizes, full figure and hard-to-fit swimwear. You can purchase your bathing suit by size, from 0 – 32 and bra size AA to K cup. Also, a customized specialty suit can be hand cut and sewn for your needs. Specializes in giving women of all ages what they want and need in swimwear.
We can assist in fitting women who are hard to fit, have health issues, are struggling with weight, mastectomy or the woman who simply wants to create a uniquely custom swimsuit.?? You choose your style, size and fabric as well as numerous options making it possible for you to get the look you deserve. ?? Each order is reviewed by an experienced consultant to confirm sizing accuracy and to make the necessary alterations to get the best possible fit. You will walk away feeling confident and self-assured that you can look great in a swimsuit! Quality Considering the price one pays, Speedo quality is excellent.
Speedos Swimwear made of the cotton/spandex/ lycramaterial tends to retain its stretchiness with time; however, the color doesn’t fade quickly. Most of the swimwear have excellent quality that does not dwindle with time in any respect- the material retains its color and texture over time. Accessories and tops made out of 100% lasting, however the ones with certain percentage of spandex in them last longer. Size Chart Packaging… The following actions have taken place so far within the framework of this plan: They have minimized the thickness of the boxes down to the technical limit that prevents breakage and crushing.
They have also minimized the individual packages for garments and accessories in terms of dimensions and density, while retaining their capacity to avoid breakage and to be processed by the distribution machinery. They have minimized the size of the labels, to just the size that allows them to be read correct. It is worth noting that all internal shipments are made using reused boxes. It is also worth pointing out that all the boxes used are made with 100% recycled material. To facilitate recycling, all these are paper-based, eliminating any metallic elements (staples, etc. Finally, Speedo adheres to the waste and packaging management systems established in the different countries in which they operate. Promotion Online ; Print Promotion: * Speedo plans to strategically use social networking sites like Facebook, Twitter, etc. to promote itself, since it aims to capture the attention of the digitally advanced and internet friendly marked. * A special page will be created on Facebook for Speedo India, which will provide regular updates on changes, and additions to inventory, notify customers about upcoming sales and offers.
Users can also place queries regarding their orders, which will be answered and assisted by the customer care executives. * Twitter posts regarding Speedo. com will be regularly updated, Consumers who wish to learn more about the website and what it has to offer can follow these posts for information. * Advertisements will be given in issues of popular fashion magazine like Vogue, Harper’s Bazaar, L’officiel, etc. which are read by the market Victoria’s Secret aims to target. * Advertisements will also be put in the Bombay Times, since; it is a newspaper that is common among all age groups.
Advertisements will be carried out for the first 3 months. * Speedo will launch and Indian website and the web domain will also be submitted to popular search engines like Google, Yahoo, etc. In this way users looking for information on Speedo India will be guided to a link to the website. * Popular news articles online and on print from Times, Business India, etc notifying the market about Speedo Brick and Mortar and online store will also promote the website and create awareness. * End of season sales will be notified through Magazines, Newspapers, social networking sites, etc. Sign up Members for Email newsletters and mobile updates outdoor Promotion: * Billboard advertisements to promote the establishment of Speedo new store will be seen for 3 months since it’s operation outside its stores and prime shopping locations. * In-store collaterals will notify customers shopping at the store about Speedo online presence. Billboard advertisements Digital Media Marketing: 1. Speedo for IPad and IPhone Description: It’s the destination for all things Speedo—anywhere, anytime, on-the-go, at your fingertips.???? Effortlessly flip through and buy from o current catalogues, shop www. peedo. com with just a tap, and find the nearest Speedo stores. One will also find up-to-the-minute coverage of the favorite swimwear from photo shoots to star-studded store openings, fashion show exclusives, TV commercials, special event,etc. * PAD® IS CATALOGUE IN THE WORLD ?The catalogues come alive on iPad® letting one simply swipe the screen to flip from page to page. Just tap the image and it will take one directly to that item on the website. Add it to the shopping bag and check out. It’s easy, fast and can be done wherever. * ? FIND THE NEAREST VS STORE??
The store locator finds a Speedo store near the user and provides directions, store hours and contact information. ?? * SHARE WITH FRIENDS?? Post VS pictures, videos and stories directly to one’s favorite social networking sites or share via email.? ?? Television & P. R. * A week prior to its launch, Speedo in association with a fitness program will telecast the Victoria’s Secret 2012 during Prime Time. * Victoria’s Secret launch party. * Location – Hype, Mumbai. * Guests– Athletes,Socialites, celebrities, leading models, designers and corporate wives from all over Mumbai. Schedule – The event starts at 21:00 hrs. followed by the introduction speech by CEO Speedo and Store Manager for Speedo Mumbai followed by dinner and drinks. The event duration is 3 hours since it is to take place in a club and be full of events. Guests will leave with gift packs from Speedo * Why the launch party? Any message conveyed by means of recreational activities and entertainment is always heard louder than a mediocre public event. The pompous nature, glamour, exclusivity and Posh appeal of a launch party is automatically well publicized due to the presence of high level guests and celebrities.
Price The above table represents the average pricing of the various types of products to be carried under each product line. This was calculated keeping in mind various factors such as: * International pricing strategy * Taxes * Operating expenses * Fixed costs * Appeal of the particular product * Marketing expenses * Target consumer Place Location The new Speedois planned to be launched in Palladium Mall, Lower Parel. The mall is ideally located in Central Mumbai. Palladium is apt owing to its host of brands it has and the customer’s it attracts.
Store Interiors The interiors of the store will be designed similar to that of Speedostores across the world. Merchandise will be arranged in neat stacks according to size and color. Store Display GANTT Chart A Gantt chart is a type of bar chart that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure of the project. Some Gantt charts also show the dependency (i. e. precedence network) relationships between activities. Gantt charts can be used to show current schedule status using percent-complete shadings and a vertical “TODAY” line as shown here. Although now regarded as a common charting technique, Gantt charts were considered revolutionary when they were introduced. In recognition of Henry Gantt’s contributions, the Henry Laurence Gantt Medal is awarded for distinguished achievement in management and in community service. This chart is used also in Information Technology to represent data that has been collected.
In the following report 2 Gantt Charts, Both representing Zara India On line’s planned schedule for Web Development and Promotions is created. Financial Budgeting Introduction It’s essential to plan and tightly manage one’s business’ financial performance. Creating a budgeting process is the most effective way to keep the business – and its finances – on track. Successful businesses invest time to create and manage budgets, prepare and review business plans and regularly monitor finance and performance. Structured planning makes all the difference to the growth of the business.
It also enables one to concentrate his/her resources on improving profits, reducing costs and increasing returns on investment. In fact, even without a formal process, many businesses carry out the majority of the activities associated with business planning, such as considering growth areas, competitors, cash flow and profit. Converting this into a cohesive process to manage the businesses will keep the company dynamic communicated to it’s clients and workers more effectively. The main aim of the business plan is to set out the strategy and action plan for the business.
This also includes a clear financial picture of where the company stands – and expects to stand – over the coming years. In the previous report Analysis had been conducted with respect to Market environment, Consumer profile, etc. On the basis of the results of the analysis and Web Development strategy was proposed. The following report consists of a detailed Financial Plan complete with figures and estimates required to implement the earlier proposed web development plan. Start Up Expenses Income ; Expense Statements