<Fashion Marketing> in Nottingham Trent University, 2024
Marketing Strategy Proposal for V by VERY
The Task
Deliver a Marketing plan for Very’s New Season Fashion Campaign (March-April), including creative idea and channel mix
Objectives
1. Increase consideration of Fashion at Very
2. Increase new customers
The Brief in Brief
Encourage females 30-45yo who don’t currently consider Very within their shopping repertoire to consider Very as their go-to destination for a seasonal wardrobe refresh
Deliverables
1. Campaign creative idea, including recommendations for location, models and activations
2. Marketing plan including channel mix and rationale for investment
Considerations
1. How can we include our own-brand offering as well as third-party brands?
2. How can we ensure that we stand out vs. competitors?
As part of my 'Fashion Marketing' class, I developed a Marketing Strategy for V by Very. The task given by V by Very was to deliver creative ideas and marketing plans for V by Very's new season fashion campaign for March-April 2024.
Based on this task, the project presents a comprehensive marketing strategy proposal for V by Very, the own brand of The Very Group, a leading online e-commerce retailer in the UK. The proposal includes an analysis of the marketing mix, brand strategies, target market identification, competitor analysis, and an in-depth examination of the company's current market position, leading to an IMC campaign strategy.
V by Very has positioned itself as an affordable and diverse clothing brand, leveraging The Very Group’s strong online platform to reach its customer base. Through internal and external analyses, including SWOT and PESTLE, the proposal identifies the brand’s strengths such as its varied product portfolio and digital customer experience, while also recognizing challenges like its limited geographical presence and dependence on online sales channels.
The key marketing strategy derived from the situational analysis focuses on enhancing brand awareness and customer engagement by emphasizing diversity and the role of women, aligning with contemporary social values. The proposed initiatives include a creative marketing campaign named "Empowering," leveraging influencers, social media challenges, podcasts, and special events to foster a strong community around the brand's values, set against the backdrop of International Women's Day.
The "Empowering" campaign, under the slogan "Valued by Very: Your Journey, Your Story," aims to elevate brand awareness and engagement by celebrating the diversity and empowerment of women. Planned to unfold across various channels such as TV ads, outdoor advertising, social media challenges, podcasts, and newsletters, each element is designed to resonate with the target demographics and cultivate a community centred on shared values and experiences.
In terms of anticipated problems and solutions, strategies are laid out to address potential issues such as competitor responses, the need for rapid adaptation based on consumer feedback, and difficulties in measuring the impact of offline events. Solutions include dynamic campaign adjustments, utilizing social media for real-time engagement, and innovative approaches to event tracking.
In summary, this proposal aims to strengthen V by Very's market position through a targeted, values-driven marketing approach that resonates with contemporary consumers, focusing on empowerment, diversity, and the role of women in shaping consumer behaviour.
The comprehensive development of a marketing strategy proposal for V by Very resulted in several key learnings and enhancements in skills. This project not only provided in-depth insights into the complexities of fashion e-commerce marketing but also offered practical experience in applying theoretical concepts to real-world scenarios.
Working on the marketing strategy proposal for V by Very, I was able to deeply explore the intricate aspects of fashion e-commerce marketing and learn how to apply theoretical knowledge to actual situations. Throughout this process, I gained several important lessons, such as understanding the importance of market analysis and recognizing the impact of brand positioning and consumer perception on marketing strategies. Utilizing marketing mix, SWOT, PESTLE analyses, and Porter's Five Forces analysis model, I developed analytical thinking by analyzing the challenges and opportunities faced by V by Very, and I advanced strategic thinking on how to align modern values such as diversity, empowerment, and sustainability with consumer expectations.
This project particularly deepened my understanding of the importance of digital marketing strategies. Collaborating with influencers, leveraging social media challenges, and utilizing content marketing for promotion played crucial roles in increasing brand awareness and driving customer engagement.
Moreover, through this project, I developed the ability to clearly and persuasively deliver marketing strategies and campaign ideas. Project management skills were an essential part of this process, as I gained practical experience in coordinating various campaign elements and setting objectives. Enhancing digital capabilities necessary for implementing marketing strategies was another important learning point.
It also helped me develop the ability to quickly adapt to changes in market conditions and consumer preferences, and flexibly adjust strategies. Understanding the challenges that brands like V by Very could face in a changing market environment and seeking creative solutions to these challenges emphasized the importance of anticipating problems and adjusting strategies accordingly.
Overall, this project was highly beneficial in equipping me with both theoretical knowledge and practical skills needed to develop and execute marketing strategies in the fashion e-commerce sector. The insights and skills gained through this endeavour will be invaluable in navigating the rapidly changing environment of digital marketing and brand management.
Project Outcome
You can see the learning outcome through this file.