FENDI SPRING/SUMMER 2019 MARKETING PLAN
(Google, https://www.heroine.com/the-editorial/fendi-fun-furs, 2018)
INTRODUCTION
This marketing communications plan initiates a promotional campaign for Fendi of Spring/Summer 2019 and targets a new younger demographic, ages 18-34. The plan focuses on Fendi’s competitor activity in order to compare strengths and weaknesses of the brands. The plan also investigates the movements of Fendi’s target demographics on particular social media platforms to decide which ones will be most effective in promoting Fendi’s new campaign. This will result in driving maximum brand awareness resulting in increased sales and consumer investment in the new season’s products.
AIMS
To motivate a younger audience, such as generation Z and young millennials, to engage and invest in Fendi as a brand.
To utilise celebrity endorsement to attract this new younger demographic.
To drive sales through using audience specific (Generation Z) advertising, e.g. Instagram posts.
OBJECTIVES
By June 2019 to have increased Fendi’s Instagram following by 7% in order to increase brand awareness and approach Burberry’s larger following (competitor).
By July 2019 to have 80% of Gen z aware of the brand Fendi (accessed through a survey, e.g “Have you heard of the brand Fendi before?”.
By July 2019 to have 65,000 likes on a celebrity promoted Instagram post, in comparison to Burberry’s Rihanna post accumulating over 43,400.
STATEGICAL ANALYSIS
BRAND STRENGTHS
Fendi is one of the designer brands that has started finding new ways to appeal to a new younger audience (Bauck, https://fashionista.com/2017/02/fendi-digital-platform-millennial, 2018). Particularly Gen Z, this is also Kim Kardashian’s (a huge fashion influencer) target audience too, specifically women aged 18-34 (, http://leaderswest.com/2012/02/06/who-is-kim-kardashians-audience/, Dougherty). Kardashian also gave Fendi huge attention after her ‘Fendi Fan’ Instagram post which accumulated over 2.5 million likes, this is an example of strategic celebrity endorsement which will be effective in driving brand awareness in Fendi’s SS19 campaign. This lead to Kardashian’s feature in the #meandmypeekaboo campaign which features 3 generations (Kris Jenner, Kim Kardashian and North West) which displays the heritage of Fendi and how it’s products are relevant to an older original, millennial and future generation Z audience. Fendi used Youtube to showcase a video campaign preview which accumulated over 18,000 likes (Youtube, https://www.youtube.com/watch?v=E84Qmc8RRtM, 2018). The #FendiMania campaign uses celebrity endorsement, such as Jenifer Lopez, Nicki Minaj and Gigi Hadid on their Instagram story highlights. As a result one of Fendi’s recent Instagram posts has accumulated over 115,600 likes in comparison to their average 40,000 (LUISSFutureMarketingLeaders, https://luissfuturemarketingleaders.wordpress.com/2017/11/01/fendi-and-the-millennial-generation/, 2018).
( https://popculture.com/celebrity/2018/02/13/kim-kardashian-fendi-photo-sheer-stockings/, Rumer 2018)
BRAND WEAKNESSES
One weakness of Fendi as brand is that their rival competitor, Burberry, still holds over 2.1 million more followers. In addition, Burberry’s Youtube channel has 319,000 subscribers in comparison to Fendi’s 64,000. Fendi also, in some ways, fails to target a younger millennial / generation Z demographic. For example, their Instagram page lacks generation Z associated influencers which could motivate an interest in the brand.
TARGET AUDIENCE
Strategy: This marketing plan focuses on a predominantly female audience aged 18-34 who will engage in social media. Though Fendi’s Instagram page lacks age specific promotion, they are introducing subtle marketing techniques which do target Generation Z. For example colloquial phrases such as “Cop the drop” in their Instagram bio connote youth. Though Fendi do not have their own Depop shop, 90’s Fendi products have gone into a huge investment boom with Generation Z as their buyers, For example, currently there are 11,115 items under the tag “Fendi”. As 70% of Depop’s audience are females aged 16-26 (Remsen, Financial Times, https://www.ft.com/content/67de4da6-fed4-11e6-8d8e-a5e3738f9ae4, 2018), this is evidence of gen Z’s growing interest in Fendi. Gen Z and young millennials are evidently the generations of technology, therefore digital marketing would be in Fendi’s favour. Mintel suggests that “the downward trajectory of print newspapers (regional and national) and magazines continues, with few signs the circulation declines are about to decelerate notably.”, (Mintel, http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/917394/?highlight, 2018) therefore Fendi will continue utilising social media platforms as well as physical media which will maintain an original Generation X fanbase.
“Which of the following have you bough in the last 3 months?”
Figure 13: Physical media purchases, December 2017 and June 2018
Base: 2,000 internet users aged 16+
(Mintel, http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/917394/?highlight, 2018)
This chart shows the decline in physical media purchases of internet users aged 16+
Tactics: To further utilise Fendi’s growing use of gen Z specific language, they will use idiomatic phrases with Instagram captions. For example, language techniques such as alliteration, rhyming and street words will hugely effect Fendi’s current demographic and introduce a younger one. 71% of generation Z social media consumers use Instagram the most out of Snapchat and Facebook; (Technology Habits of Generation Z – UK – September 2018, http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/913752/?highlight#hit1, 2018) therefore Instagram could be the most effective platform in driving Fendi’s campaign and brand awareness.
Best time to post on Instagram for optimal views.
(Google, sproutsocial.com, York 2018)
This chart suggests that Fendi should post their Instagram’s at 4pm on Wednesday’s and Thursday’s to encourage maximum views and brand exposure thus driving sales further. This would be a tactical measure on behalf of Fendi as Gen Z social media users use Instagram (71%) the most compared to Snapchat (69%) and Facebook (66%) (Technology Habits of Generation Z – UK – September 2018, http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/913752/?highlight#hit1, 2018).
COMPETITOR COMPARISON
(Instagram, Fendi, https://www.instagram.com/fendi/, 2018)
(Instagram, Burberry, https://www.instagram.com/burberry/, 2018)
Despite Fendi’s Instagram account having over 1000 more posts than Burberry’s, Burberry still holds 2.1 million more followers then it’s rival, Fendi. There are various reasons as to why this could be the case, one being Burberry’s use of celebrity endorsement to promote their brand and Fendi’s lack of.
CELEBRITY EMNDORSEMENT STATERGY
Strategy: Celebrity endorsement could be an extremely effective way in promoting brand awareness and driving sales in Fendi’s new Gen Z audience as well as their loyal followers. This is because celebrity influencers create trust within a brand as they are perceived to be of elite social status suggesting they rely on best of the best. Celebrity promotion is a strategy that is undying and growing (Mintel, Khanom, http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/805729/?highlight, 2018) and so therefore is extremely relevant today.
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Tactics: After Kim Kardashian’s success in bringing back the double F 90’s Fendi logo print after her ‘Fendi Fan’ Instagram post, she would be a prime fashion influencer to attract and Gen z / young millennial audience. Fendi will upload at 4pm on Wednesday 6th March 2019 a post of Kim Kardashian in one of Fendi’s double F print outfit in order to appeal to the target audience. As Fendi’s YouTube following accumulates a small 64K subscribers, Kardashian will also feature in a SS19 campaign video which will be uploaded at the same time in order to spark interest to gain subscribers, target generation z and drive brand awareness. Beyoncé will also feature on Fendi’s Instagram with a similar logo outfit promoted the following day at 5pm as she sparked much interest when Fendi’s rival, Burberry, used her in their logo print.
Burberry’s recent post of Rihanna in one of their garments. (Instagram, Burberry, https://www.instagram.com/p/BobgqJrnFjk/?taken-by=burberry, 2018)
SS19 TRENDS
(Google, https://www.premierevision.com/en/fashion/best-ss-19-colours/, 2018)
(WGSN, Park, https://www-wgsn-com.ezproxy.falmouth.ac.uk/content/board_viewer/#/78303/page/1, 2018)
FINANCES
BUDGET: £11 million
Social Media: £6600000
Celebrity Endorsement: £2200000
Digital Billboards: £1100000
PR: £1100000
ACTION AND CONTROL
WHAT
COSTS
WHEN
WHO
REVIEW
Instagram Posts
From 30p to £3.00 per click. The average CPM is £5.23
March 2019, around 4pm on Wednesdays and Thursdays.
Predominantly female 18-34 year olds who actively engage in social media.
Fendi’s Instagram account holds 10.5 million followers which is a large audience to promote to.
PR
Up to £10,00 per month
Through March to July 2019.
Through influencers, Fendi will target Generation Z and millennials, those who follow that specific influencer.
Popular fashion influencers will promote Fendi’s products to Generation z.
YouTube video advert
30p per view
The adverts will be aired in the evening around 7pm from March to July 2019.
Fendi’s advert will target YouTube users who show an interest in fashion videos in order to target accurately.
A wide audience will be exposed to this advert as it targets those who have previously watched fashion videos.
Digital billboards
£10,000 on average, relatively cost efficient.
The digital billboard will be displayed on March 6th 2019, parallel timing to an Instagram post to drive maximum awareness.
The billboard will be exposed to London city public. It will be promoted to all audience types.
Will be exposed to all demographics and consumers whether they are passive or active, this creates optimum publicity.
EXECUATIVE SUMMARY
In summary, Fendi aims to target a new younger demographic, specifically Generation Z and young millennials. This will be conducted through various digital and physical media platforms, such as social media, digital billboards and PR with the edition of famous influencers and celebrity endorsement. Fendi’s £11 million budget will be split into different sectors to fund each media platform.
(https://twitter.com/pradaccia/status/929120554824687620, 2018)
BIBLIOGRAPHY
References
Academic.mintel.com.ezproxy.falmouth.ac.uk. (2018). Shibboleth Authentication Request. [online] Available at: http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/917394/?highlight [Accessed 26 Oct. 2018].
Academic.mintel.com.ezproxy.falmouth.ac.uk. (2018). Shibboleth Authentication Request. [online] Available at: http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/805729/?highlight [Accessed 26 Oct. 2018].
Academic.mintel.com.ezproxy.falmouth.ac.uk. (2018). Technology Habits of Generation Z – UK – September 2018. [online] Available at: http://academic.mintel.com.ezproxy.falmouth.ac.uk/display/913752/?highlight#hit1 [Accessed 26 Oct. 2018].
Bauck, W. and Bauck, W. (2018). Fendi Just Launched A New Digital Platform Targeting Millennials. [online] Fashionista. Available at: https://fashionista.com/2017/02/fendi-digital-platform-millennials [Accessed 26 Oct. 2018].
Celebrity. (2018). Kim Kardashian Flaunts Her Fendi Fandom in Sheer Stockings. [online] Available at: https://popculture.com/celebrity/2018/02/13/kim-kardashian-fendi-photo-sheer-stockings/ [Accessed 26 Oct. 2018].
CMS, W. and Marketing, E. (2018). Who is Kim Kardashian’s audience?. [online] leaderswest. Available at: http://leaderswest.com/2012/02/06/who-is-kim-kardashians-audience [Accessed 26 Oct. 2018].
Heroine. (2018). Unwrapping the History of Fendi’s Double-F Monogram – Fendi Fun Furs. [online] Available at: https://www.heroine.com/the-editorial/fendi-fun-furs [Accessed 26 Oct. 2018].
Instagram.com. (2018). Burberry (@burberry) • Instagram photos and videos. [online] Available at: https://www.instagram.com/burberry/ [Accessed 26 Oct. 2018].
Instagram.com. (2018). Burberry (@burberry) • Instagram photos and videos. [online] Available at: https://www.instagram.com/p/BobgqJrnFjk/?taken-by=burberry [Accessed 26 Oct. 2018]
Instagram.com. (2018). Fendi (@fendi) • Instagram photos and videos. [online] Available at: https://www.instagram.com/fendi/ [Accessed 26 Oct. 2018].
LUISSFutureMarketingLeaders, V. (2018). Fendi and the Millennial Generation. [online] Luiss Future Marketing Leaders. Available at: https://luissfuturemarketingleaders.wordpress.com/2017/11/01/fendi-and-the-millennial-generation/ [Accessed 26 Oct. 2018].
Première Vision Paris. (2018). Best S/S 19 Colours. [online] Available at: https://www.premierevision.com/en/fashion/best-ss-19-colours/ [Accessed 26 Oct. 2018].
Remsen (2018). How the clothes-selling platform Depop is creating young entrepreneurs | Financial Times. [online] Ft.com. Available at: https://www.ft.com/content/67de4da6-fed4-11e6-8d8e-a5e3738f9ae4 [Accessed 26 Oct. 2018].
Twitter.com. (2018). Twitter. [online] Available at: https://twitter.com/pradaccia/status/929120554824687620 [accessed 26 Oct. 2018].
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YouTube. (2018). #MeAndMyPeekaboo Chapter II: Kim Kardashian West, Kris Jenner and North West. [online] Available at: https://www.youtube.com/watch?v=E84Qmc8RRtM [Accessed 26 Oct. 2018].
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