“It  takes  nothing  to  join  the  crowd.  It  takes  everything  to  stand  alone.”  

!(Hans  F.  Hansen)

1. The Market Overview

2. The Brand

3. Strategy

4. Marketing Communication

Campaign

5. Conclusion

Marketing Objective

SOCKS  SHOULD  NOT  BE  HIDDEN!  !

They  should  be  a  visible  part    of  the  daily  ou>it    

and  subsequent  self-­‐idenAty.

Increase  brand  awareness

Market Rivals U.K.  Hosiery  Market  Shares  

 by  companies  (2012)

Marketing Overview

2007 2012

Sales (‘000 units) 125,401.8 135,351.7

Sales (GBP Million) 493.0 544.1

Socks  in  the  UK

2007/20012 CAGR 2007/2012 Total

Volume Growth / % 1.5 7.9

Value Growth / % 5.5 10.4

Segmentation

DEMOGRAPHIC  Age:  13  -­‐  19  Housing:  Living  with  parents  Gender:  Male  and  Female  OccupaAon:  Students  Household  income:  GBP  60,000  -­‐  75,000  

! (Mintel,  2013)    

Segmentation

PSYCHOGRAPHIC  Personality:  Adventurous,  Extrovert,  Curious  Lifestyle:  Fashionable,  Trendy  Concerned  with  their  looks  (Valida\on  of  status  among  peers)  

!

BEHAVIOURAL  Occasion:  All  day  long  Benefits:  Func\onal  Usage  Level:  Daily  

Euromonitor    (2013)

SMART

SELF-­‐DIRECTED

OPTIMISTIC

MULTI-­‐TASKING

COMMUNITY-­‐ORIENTED

MULTICULTURAL

MATERIALISTIC

INDIVIDUALISTIC

BRAND-­‐AWARE

BARGAIN-­‐SAVVY

AT  HOME  TECHNOLOGY(Mintel,  2013)    

Competitors Where  do  teens  shop

eBay Topshop/TopmanAmazon New  LookASOS Others

River  Ireland New  LookH&M Topshop/TopmanPrimark

Online  retailers  targeAng  teenagers,  UK  (Mintel,  2013) In-­‐Store/Online  retailers  targeAng  teenagers,  UK  (Mintel,  2013)

%

%

%

%

%

%

%

%

%

%

Competitors Campaigns

In  compe\tors’  promo\onal  campaigns,  socks  are  usually  shown  as  part  of  the“underwear”  category  Symbolic  meaning  of  socks  only  promoted  during  Christmas  season

Marketing Communication Model The  Marke\ng  Communica\on  Tetrahedron

CONSUMER

PRIOR  KNOWLEDGE PROCESSING    GOALS

SITUATION RESPONSE

PLACE TIME PROCESSING OUTCOMES

COMMUNICATION

MODALITY  INFORMATION  

BRAND-­‐RELATED  INFORMATION  

EXECUTIONAL  INFORMATION  

Teenagers Attitude & Behaviour Towards Socks

AAtudes  ! Low  informa\on  search    (Beeman  and  Park,  1980)  

Cogni\ve  involvement    (Zaichkowsk,  1994)  

U\litarian  value  (for  comfort  and/or  basic  hygiene)  

!

Behaviour  Rou\nised  response  behaviour  

(Howard  et  at.,  1969)

Marketing Communication Model

(Holbrook  &  Hirschman  1985)  

THINKING FEELING

HIGH  

 INVO

LVEM

ENT  

LOW  

 INVO

LVEM

ENT  

I.  INFORMATIVE  THE  THINKER

II.  AFFECTIVE  THE  FEELER

III.  HABIT  FORMATION  

THE  DOER

IV.  SELF-­‐SATISFACTION  

THE  REACTOR

The Brand

Our Brand

Product  concepts:  Create  new  trend  by  moving  away  from  the  conven\onal  design  and  focusing  on  uniqueness/individuality  

!

Product  characterisAcs:  socks  are  made  from  coeon,  polyamide  and  elastane  customisa\on  op\ons  by  adding  text

Our Brand

Unique  Selling  ProposiAon:    Not  standard  socks,  but  unique  and  crea\ve  product  Co-­‐crea\on  with  consumer  (customisa\on)  Break  away  from  the  conven\onal  mind-­‐set  of  the  u\litarian  func\on  of  socks  

!

(Aaker,  1997)

Brand  themes:  Brand  values  (fun,  open-­‐mindedness,  empowerment,  expression  of  one  self,  fashionable)  Brand  personality  (exci\ng,  imagina\ve,  up-­‐to-­‐date,  cheerful)

Brand Value

EXPERIENTIAL  VALUE

SYMBOLIC  VALUE

FUNCTIONAL  VALUE

What  does  the  brand  means  to    the  individual?

What  does  the  brand  means  to    the  individual?

What  does  the  brand  means  to    the  individual?

Modern,  Trendy,  Extension  of  self

Exclusive,  Fun,  Dis\nc\ve

Higher  Quality,  Personalisable  Dis\nguishable

(Ellioe  and  Waeanasuwan,  1998;  Belk,  1988;  McCracken,  1986)  

YoDsMarketing Mix

Product

Categories:  

Funny  

‘Graffeety’  (Graffi\  designs)  

Personalisa\on  of  socks  (up  to  15  characters)

Product Funny  Socks

Product Design  Socks

Packaging

White  box  with  see-­‐though  logo  on  the  front  side    showing  the  paeern  of  the  socks

Pricing Strategy

FUNNY DESIGN PERSONALISED

SOCKS £2.99 £3.99 £4.99

(Schindler  and  Kibarian,  1996)  

Place

Online:    www.yods.com  !

Department  Stores:    Selfridges  Debenhams  House  of  Fraser  Fenwick    !

Promotion

Why hide it? Flaunt it!

IMC Plan

PHASE  I

Crea\on  of  hype

Guerilla  marke\ng  Webpage  launch  Reverse  Graffi\  

Mysterious  billboards  QR  Code  

Twieer  challenge

PHASE  II PHASE  III

2  WEEKS

Changing  Aptudes    and  Behaviour

Long-­‐term    Marke\ng  Strategy

3  MONTHS LONG-­‐TERM

YouTube  Advert  Billboards  

Facebook  Page  Game  App  

Exhibi\on  with  local  ar\sts  Na\on-­‐wide  school  art  

compe\\on

Social  Media  YouTube  Adverts  

Strategic  partnership    with  design  ar\sts

IMC - Phase 1 Reverse  Graffi\

IMC - Phase 1

ObjecAve:    Build  awareness  in  an  innova\ve  way  Create  curiosity  in  our  target  market  with  the  use  of  QR  code  leading  to  promo\onal  game  on  YoDs  webpage  

!!

Phase I - Webpage

Promotion

ObjecAve:    Create  awareness  about  our  brand,  not  men\oning  the  product  at  this  stage  Create  the  hype  around  the  brand  !

!    

Billboards

Promotion

IMC - Phase 2

ObjecAves  Further  increase  brand  awareness    Changing  aptudes  and  behaviour  towards  socks  Socks  are  more  then  just  an  underwear  but  a  part  of  one’s  personality  

Changing  aptude  and  behaviour

TV COMMERCIAL

Interactive Communication

ObjecAves  Convey  product  informa\on  Link  to  brand  Encourage  or  facilitate  purchase  

 (Niemann,  2013;Unnava  and  Burnkrant,  1991)  !!

Help  increase  awareness  by  engaging  consumers  Create  two-­‐way  communica\ons  with  a  range  of  audiences                                Empower  the  audiences  through  interac\ve  communica\ons  

(Hughes  and  Fill,  2007)  

!

Social  Media

Promotion Interac\ve  Communica\on

Facebook Campaign

Billboards

Interactive communication

ObjecAves  Engage  our  customers  Increase  brand  awareness  Increase  purchase  inten\on  though  rewards  

!

Facts  upcoming  marke\ng  communica\on  channel  6  million  people  in  the  UK  use  mobile  gaming  apps  daily  

(Comscore,  2013)

Game  App

…Woohoo you just beat Zarton014’s high score! Click here to brag on Facebook…

Promotion InteracAve  communicaAon

….Beat the game on Legendary mode and win limited Edition YoDs merchandise….

Interactive Communication

!

ObjecAves  

Demonstrate  associa\on  with  local  ar\sts  Increase  brand  awareness  through  effec\ve  PR  Establish  a  direct  connec\on  with  consumers  through  an  interac\ve  art  exhibi\on  Showcase  our  unique  designs

Exhibi\on  with  local  ar\sts

Exhibition with local artists

Interactive Communication

!

ObjecAves  Art  compe\\on  in  schools  to  help  develop  young  talent  Increase  brand  awareness  amongst  school  students  Co-­‐crea\on  with  target  market  Students  get  the  opportunity  to  win  a  scholarship  and  internship

Na\on-­‐wide  school  art  compe\\on

IMC - Phase 3

ObjecAves  Con\nuos  innova\on  (follow  teen  fashion)  Partnership  with  upcoming  local  ar\sts  to  keep  concept  fresh  and  in  vogue  Strong  focus  on  consumer  created  content  Use  of  tradi\onal  fashion  marke\ng  concept  of  seasonal  promo\ons

Long-­‐Term  Strategy

IMC - Phase 3 Summer  and  Winter  Collec\on

Campaign Communica\on  Channels

DIGITAL OUT-­‐OF-­‐HOME  PROMOTION  

PR GUERILLA  MARKETING

EVENTS

Website  Facebook  Twieer  SockIt!  Youtube  

Billboards  Buses  

Tube  Sta\ons  Bus  Sta\ons  

Reverse  Graffi\  Exhibi\ons   School  Contest  

Conclusion

Sandra Bendlova Tatiana Galindo

Sourav Murherjee Akshay Sud

Vimvadee Piyavanich

Flaunt  it!

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!