FMP Rebrand - The Cambridge Satchel Company Marketing Plan

THE

SATCHEL COMPANY

marketing plan rebranding the cambridge satchel company

executive summary;

this report outlines the proposed rebranding of the cambridge satchel company through an extensive, inhouse autumn winter 2018 edited style campaign and the refreshing of the brand image, through the redesign of the logo and website. proposed initiatives will increase brand awareness and clarify brand identity amongst consumers with the aim of successfully rebranding the cambridge satchel company and clarifying its place as a strong competitor in the accessible luxury market.

contents;

introduction

background

consumer profile

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market analysis

rationale

aims & objectives

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marketing strategy

conclusion

references

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introduction;

this report details the need to rebrand the cambridge satchel company through the autumn winter 2018 edited style campaign in order to increase brand awareness and recognition amongst consumers. the key sections covered in this plan will be; background, consumer profile, market analysis, rationale and marketing strategy. the supporting communications plan document contains; strategic approach, marketing tactics and success monitoring.

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background; the cambridge satchel company is a british fashion accessory brand, known for its high quality, british made leather satchels. founded in 2008 by julie deane, the brand began as she discovered a gap in the market for high quality classic leather satchels. the brand soon saw success in 2009 when julie deane read an article discussing the power that fashion bloggers held and as a result, reached out to bloggers regarding the satchels (the cambridge satchel company, 2017). 2010 saw fashion bloggers carrying the satchels at new york fashion week, creating a great amount of coverage for the brand. in addition to brand recognition driven by bloggers, celebrities have also played a crucial role in the cambridge satchel company’s development. taylor swift, lady gaga and emma stone are amongst celebrities that have been photographed carrying the bags. magazines such as elle soon began to feature the satchels and in 2012, google told the cambridge satchel story in a google chrome advertisement, generating further coverage. in 2013, the brand opened its first store in covent garden, the cambridge satchel company has five stores in the uk at present. the brand currently uses the agency, clickuk to create their print advertisements, the rebranding proposed within this marketing plan will utilise an in-house marketing campaign to develop a stronger brand identity. success generated from the google advert resulted in a brand turnover of £12.8 million in 2013, however, since this success, turnover dropped the following year (burn-callander, 2015). revenues fell from £10m in 2014 to £7.5m in 2015, and the business made a loss of £5.4m, compared to a profit of £1.4m the year before (burn-callander, 2016). the cambridge satchel company received an investment of £12.7m from index ventures, the early stage investor behind facebook, skype and neta-porter. founder julie deane stated that the company tried to progress too quickly, expensive senior executives were introduced and she was losing control of the company. as a result, 13 people were removed and profits are still yet to improve (burn-callander, 2016). a survey was conducted to gain insight into brand awareness among consumers. the results found that only 41% were aware of the cambridge satchel company. of this percentage, only two participants followed the brand on social media and of all the participants, only one had visited one of the stores. to further develop insight into the consumer perceptions of the brand image, an image of the website and logo were shown in the survey. responses were mostly negative to both, with participants describing the website as dated, boring, drab and discussed a poor use of colour. however, the older participants appeared to respond better to the website.

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at present, the cambridge satchel company consumers are broken down into four categories, the fashionistas, the pragmatists, the men and the phoebephiles (faull, 2016). the cambridge satchel company identify the phoebephiles, the girl in her late twenties, as their target consumer.

However, primary research found that brand aesthetic, including the logo and website, is currently appealing to women aged over 40, whilst the younger consumers did not respond well to either. the proposed rebranding detailed within this marketing plan will further target and connect with the phoebephiles.

swot analysis STRENGTHS quality - products are handmade in britain - all bags are 100% genuine leather - option for products to be personalised history - family orientated brand beginnings - story told in google chrome advert

OPPORTUNITIES

WEAKNESSES finances - profits not as strong as in previous years such as 2012 marketing - small social media presence - advertising campaigns are not created in house

THREATS

brand awareness - increase in brand visibility amongst consumers, leading to the increase of profits

competition - accessible luxury handbags are successful, providing strong competition for the brand

international opportunities - further growth in countries such as china

products - similar product styles available in the market at lower prices

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the phoebephile; the phoebephile is an image conscious, avid instagram user in their late twenties. social media plays an important role in their life, instagram is key for style inspiration and keeping up to date with trends. the phoebephile is obsessed with the style of cĂŠline, but cannot afford the luxury price tag. in addition to instagram, they read magazines including elle and glamour to ensure they are well informed on the latest must-haves. whilst they cannot afford high end luxury products, the phoebephile is willing to invest in high quality, accessible luxury products such as handbags, small leather goods and iphone cases. a high quality, a timeless bag is a staple for their wardrobe. in addition, the phoebephile will often purchase entry level products such as small leather goods to compliment and update their style per season. together, the timeless bag and smaller trend driven products aid their desire to look stylish without spending large amounts of money as trends change per season.

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with an aim to live a comfortable lifestyle, the phoebephile has many aspirations and is working their way up the career ladder whilst living in a busy city. technology is important to the phoebephile, particularly their iphone, as they are invested in taking photographs for their personal instagram pages. they enjoy instagramming every aspect of their healthy lifestyle in addition to their outfit of the day posts. it is crucial to the phoebephile that they portray a cool image and lifestyle to their peers on instagram, but manage to do so without expensive, high end products and activities.

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market analysis;

the accessible luxury market refers to products priced between mass fashion and ready-towear (sanderson, 2016). key brands within this market include kate spade, coach and lulu guinness. these brands allow consumers to purchase high quality products at accessible prices. handbags are a significant product amongst consumers, as they desire to have high quality, fashionable handbags at affordable prices. the cambridge satchel company is positioned within this accessible luxury market. as an accessory only brand, the cambridge satchel company contains a strong selling feature, as products are handmade in britain, offering quality and craftsmanship to the consumer. at present, the visibility and awareness of the cambridge satchel company is significantly low in comparison to its competitors. the proposed rebranding will produce successful results similar to market competitors as the brand is given a minimal, yet cool aesthetic to compliment the quality and craftsmanship of the products, resulting in a desirable brand. the visibility and brand identity will be clarified amongst consumers and as a result, will reestablish the cambridge satchel company as a strong competitor in the accessible luxury market.

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HIGH VISIBILITY

HIGH PRICE

LOW PRICE

LOW VISIBILITY

graph shows the visibility and price of brands, based on number of instagram followers & cost of handbags

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rationale;

initiatives proposed throughout this report and supporting communications plan will successfully rebrand the cambridge satchel company and solidify its place in the accessible luxury market. the brand possesses great opportunity for success with the high quality products they produce. a comprehensive promotional campaign will provide a clear brand identity amongst consumers and develop brand awareness and recognition with consumers. marketing tactics included in the rebranding will lead to stronger retail and online sales, improving current falling profits and further connecting with the phoebephiles.

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aim to rebrand the cambridge satchel company using an in-house print and film campaign and the redesign of the brand logo and website

objectives to develop brand awareness and recognition for the cambridge satchel company amongst consumers during the period of august 2018 to november 2018 to clarify the brands positioning and identity to the target consumer, utilizing social media platforms such as instagram during the period of august 2018 to november 2018 to increase sales performance for the cambridge satchel company following the aw18 campaign through online and retail sales by 20% by november 2018

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marketing strategy; the fundamental element of the rebranding will be the promotional campaign. the rebranding will be introduced through the autumn winter 2018 edited style campaign, which will set the standard for all future campaigns. see communications plan for full details of the strategic approach, campaign and marketing tactics. the rebranding of the cambridge satchel company will not see the introduction of new products, however the focus of campaigns will focus on key bags. the satchels will still be an essential element of the brand, however, the edited style campaign will concentrate on the more style driven products, including the poppy bag. offering both style and quality, the products provide timeless style and versatility to the consumer’s wardrobe. the cost of the products will remain the same, with the highest priced handbag costing £270. in order to build brand loyalty amongst the younger consumer, the phoebephile, it is important to ensure repeat buys will take place. the repeat buys will be achieved through smaller, entry level products, such as small leather goods. these products will change per season and adapt as a result of current trends. subsequently, the cambridge satchel company will be continue to engage with and attract the consumer after they have purchased a staple bag, each season, resulting in stronger sales and greater brand loyalty.

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as a result of the logo and brand image being adjusted and refreshed, the brand packaging and the store interior design will be suitably adapted. when purchasing a product, customers will receive their purchase in a dust bag featuring the newly designed logo. the colour of the dustbag will be adapted per season and follow the chosen theme that has been used throughout. the aw18 dustbags will be designed in a mustard yellow tone, with the black logo displayed in the centre. the shopping bags will also be refreshed as part of the rebranding and will feature the new logo in black, on a grey paper bag, this will not change per season. online orders will be packaged in a similar way, with all products arriving in a cardboard box displaying the logo and a dustbag. store locations will not change as a result of the rebranding, however, the online store will change, as will the interior design of each store. the website will be redesigned completely, it will be clean, easy to use and aesthetically pleasing, focusing on key products. simplifying the layout and design of the website will result in a smoother spending process, allowing consumers to easily and quickly purchase products. similarly, the store layout and design will follow a minimal theme, allowing attention to be solely on the bags. campaign imagery will be displayed on the white wash exposed brick walls in each of the stores. products will be displayed on shelves suspended from the ceiling with copper piping and wooden structures. the current customization areas within the stores will be redesigned and given a simpler look, moving away from the darker colour themes to suitably fit in with the new aesthetic. the cambridge satchel company stores are currently located in; covent garden, cambridge, edinburgh, seven dials london and brighton.

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conclusion; the success of the rebranding of the cambridge satchel company and the edited style campaign will be measured through sales figures and online following, based on consumer interaction on social media platforms. the success monitoring and contingencies of the campaign and overall rebranding has been discussed within the accompanying communications plan. promotion is the key initiative employed for the rebranding of the cambridge satchel company and fulfilling the aims and objectives set out, as explored within the supporting communications plan document. the edited style campaign and the message communicated through the print and film advertisements showcase the cambridge satchel company as a brand that offers timeless style that can be achieved through products that provide quality and versatility, a staple element of the consumer’s wardrobe. the supporting marketing strategy will help to reinforce the new brand image and identity to consumers, through the new logo and a change of focus in terms of key products. a greater consumer interaction and connection will be created through the rebranding and campaign, the phoebephile will feel desire to purchase the products. the marketing strategy and tactics will be supported throughout by extensive digital marketing techniques. the cambridge satchel company will successfully rebrand itself through the aw18 edited style campaign through each strategically planned interlinking tactic. as a result of the rebranding and campaign, the cambridge satchel company will redefine itself and its brand image, reinstating itself as a strong contender within the accessible luxury market.

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references; Anya Hindmarch. (N/A). Anya Hindmarch Logo. [Online image].

Retrieved from https://www.businessoffashion.com/community/ companies/anya-hindmarch-ltd.

Artnau. (2014). The Collector’s Shelving System. [Online Image].

Retrieved from http://www.artnau.com/2014/04/the-collectors-shelving-system/.

Burberry. (2017). Logo. [Online image]. Retrieved from http:// www.logotypes101.com/logo/burberry Burn-Callander, R. (2015). Cambridge Satchel profits fall despite cash injection. Retrieved from http://www.telegraph.co.uk/ finance/newsbysector/retailandconsumer/11552838/Cambridge-Satchel-profits-fall-despite-cash-injection.html.

Burn-Callander, R. (2016). ‘We lost our way,’ says Cambridge Satchel boss, as iconic bag maker posts loss. Retrieved from http:// www.telegraph.co.uk/business/2016/06/18/we-lost-our-way-sayscambridge-satchel-boss-as-iconic-bagmaker-p/.

Coach. (2015). Coach Autumn/Winter 2015 Advertising Campaign. [Online Image]. Retrieved from https://www.thetrendspotter.net/2015/07/coach-autumnwinter-2015-advertising-campaign. html.

Coach. (2017). Coach Logo. [Online image]. Retrieved from http://uk.coach.com.

Dahlberg, J. (2016). How To Create A Flawless Instagram Feed.

[Online Image]. Retrieved from https://blog.bloglovin.com/blog/ how-to-create-a-flawless-instagram-theme.

Faull, J. (2016). The Cambridge Satchel Company on keeping its ‘cool’ factor as it eyes £100m in global sales. Retrieved from http:// www.thedrum.com/news/2016/05/15/cambridge-satchel-company-keeping-its-cool-factor-it-eyes-100m-global-sales.

Guinness, L. (2016). Lulu Guinness Logo. [Online image]. Retrieved from https://www.myvq.co.uk/lulu-guinness.

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Kate Spade. (N/A). Kate Spade Logo. [Online image]. Retrieved from http://keywordsuggest.org/gallery/7547.html.

Kate Spade. (2016). Kate Spade Spring 2016 Campaign. [Online Image]. Retrieved from http://www.fashiongonerogue.com/katespade-spring-2016-campaign/.

Kate Spade. (2016). Kate Spade Spring 2016 Campaign (2). [Online Image]. Retrieved from http://www.fashiongonerogue.com/ kate-spade-spring-2016-campaign/.

Mulberry. (2017). Mulberry Logo. [Online image]. Retrieved from http://www.mulberryfactoryshop.com/home/about_mulberry.

N/A. (2015). Shopping Bags PSD Template. [Online Download].

Retrieved from http://www.graphicsfuel.com/2015/10/shoppingbags-psd-template/.

Sanderson, R. (2016). Furla success underlines rise of accessible luxury. Retrieved from https://www.ft.com/content/adf07446d4b3-11e5-829b-8564e7528e54.

Sophie Hulme. (N/A). Sophie Hulme Logo. [Online image]. Retrieved from http://www.blueandcream.com/category/w_SophieHulme.html.

The Cambridge Satchel Company. (2015). Logo. [Online image]. Retrieved from http://www.thatdapperchap.com/2015/11/ the-cambridge-satchel-company.html.

The Cambridge Satchel Company. (2017). About Us. Retrieved from https://www.cambridgesatchel.com/en-gb/about-us/aboutus. html.

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elizabeth orwin