kate spade final
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Eleana Gudema, Ameara Harb, Katie Lohman, Jordan Peery, Julia Ranauro
kate spadeNEW YORK
Brand History
Founded in 1993 by Kate Brosnahan and Husband Andy Spade Started by just making accessories First Store Opened in 1996 in SoHoAcquired by Liz Claiborne Inc. in 2006 Now includes clothing, jewelry, shoes, beauty, perfume, stationary, and home decor
Research
Surveyed Target AudienceMintel MediaMark
Key Findings
Competitors
Category AnalysisLuxury Accessories
Distribution80+ boutiques in the United States100+ boutiques in foreign marketsSold in department stores such as Nordstrom, Bloomingdale’s, Lord & Taylor, and Neiman Marcus
Size:Sold in 400+ store locations internationally
General Health:Economically Stable
Rationality/Seasonality:Luxury lines debuted seasonally
SWOT
Strengths
Strong brand identityDistinct products that bring recognition
to the brandStrong and diverse social media
presenceUnique marketing techniquesStrong brand loyaltyMultiple retailers Website is easy to navigate and shop
Weaknesses
Potentially diluted brandBrand awareness is not at level of
competitors Rapid expansion
Opportunities
Build awareness within the target audienceExpand production More retail locationsReconnect with loyal customersCapitalize on the 20th anniversary
Threats
Other "classic American" brandsEconomic downturnsKnock offs
Competitive SetPrimary:
Secondary:
From a Broad Context:Competitors are other luxury accessory brands that offer classic leather handbags, wallets, and both trendy and timeless jewelry pieces. Customers tend to be those with a disposable income and an affinity for expensive accessories.
Target Audience
Primary Audience: Blair
Women 18-30Trend conscious and fashion obsessedPrimarily single, more independentCollege educatedYoung, urban, professionalsPredominantly Caucasian, but not exclusivelyFinancially stable with a disposable incomeAdventurous at heart, but like to appear neat and polished
Secondary Audience: Carole
Women 30-60Nostalgic for classic accessoriesMarried with childrenCollege educated, still maintaining a professional careerLiving in suburban areas outside of large citiesAware of current trends but may not follow themFinancially stable with a large disposable income
Current Communications
Online Communications Twitter, Tumblr, Pinterest, FacebookWebsite extensions: City Guide, blog
Print Ads Magazine and Blog features Fashion Shows
Concerns &
Recommendations
Overall ConcernsStraying from classic accessories identity Exploring new “low – end” markets Trying to be all things to all people Not capitalizing on customer loyalty
Positioning Statement
Kate Spade is an internationally recognized luxury brand
predominantly geared towards young professionals who have an affinity for classic and timeless accessories with a modern twist
Communications
Current StrategyFocused on online presence but research shows that most people associate with the print ads
Recommended Strategy
Keep online presence as isIntegrate print ads with online presence
Product Identity
Current StrategyTrying to be all things to all people Have stationary, home, clothing, jewelry, in addition to accessories People associate the brand with accessories
Recommended Strategy
Shift the focus of marketing back to accessoriesUse the 20th anniversary to do soAccessories are the gateway to the rest of the brand
Brand IdentityCurrent Issue
Losing sight of target audienceNot capitalizing on customer loyalty
Cheapening of brand
Recommended Strategy
Use 20th Anniversary as a launch point for a “classic” kate spade accessories line Keep “low-end” line but only for home, stationery, wallets, and jewelry – not handbag
kate spadeNEW YORK