Perceptual Map

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Name & Logo

only me

only me1

only me2

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Primary research-Quantitative

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USP

Customized shirt is our brand unique selling proposition. Our purpose is to satisfy every single customer’s demand, because we consider that there are a lot of people have suffered the same problem that is they can’t find a dream shirt which the style or the cutting is perfect for them. In“only me”, people obtain an opportunity to design a shirt by themselves. They get the right to decide all the details of their shirts, including fabric, collar, sleeves, cuffs, patches, and buttons. It turns out that the shirt is not just a creative work which they are proud of but also can be a significant gift for their friends. In the meantime, ”only me” makeseveryone fulfill their dreams of being a fashion designer.

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Market research for OM (Resource: Mintel) II

How important is fashion to men?

Mintel’s research shows that men are more than four times as likely to prefer to buy classic styles that will last beyond the seasons, than to buy the latest fashion. While young men aged 16-24 still like to keep up with the latest trends, more of them are opting for classic styles. This is partly being driven by a fashion for classic clothes, with retailers such as Topman seeing a rise in interest in pieces such as suits and coats, while John Lewis and M&S have reported rising sales of modern versions of old classics. As part of this trend there has also been a focus on British styles, with Topman’s premium suit range featuring garments made from Scottish Harris Tweed and M&S’s Made in Great Britain capsule collection of menswear will be made using traditional British fabrics and manufacturing techniques.

The renewed appetite for classics, however, is also being driven by an uncertain economic climate, which has resulted in a rise in men mainly buying clothes when they need to replace worn out ones. Therefore when men do buy they are more likely to opt for quality clothes that will last. Fashion conscious young men are not following fashion trends as avidly and there been a 10-percentage point drop in under-35s who are no longer living with their parents wanting to keep up with the latest fashions since the previous report published in April 2012 and even young Fledglings who are still living at home are updating their look less frequently.

 

What can retailers do to improve the shopping experience for men?

Half of male consumers agree that the in-store shopping environment is important, particularly 25-34s and affluent ABs, which are both demographic groups that are growing. A similar proportion of men also state that good customer service would encourage them to shop more at a retailer and this attitude also peaks among better-off consumers.

These figures highlight the importance of investing in the consumer shopping experience through an improved store environment and the latest technology to entertain male consumers. H&M has remodelled its Oxford Circus store to include a chill out area and is offering free Wi-Fi to its customers. Young fashion retailers need to be innovative in terms of design and technology so that young men continue to visit their stores with their friends and buy clothes while they are there.

There is scope for other retailers such as New Look and River Island to focus more on turning their stores into retail destinations offering shoppers an outstanding customer experience, where men will visit the store to ask the staff for advice about clothes and then complete the purchase either on an in-store iPad, on their own mobile device or back at home on their laptop.

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Market research for OM (Resource: Mintel)

Growing Menswear Market

The menswear market has continued to grow, increasing by 2% to an estimated £10.4 billion in 2012, despite an overall tough market for the retail sector. Male consumers have continued to spend on buying clothes, although they have adapted their shopping behaviour to a tougher climate and are buying clothes less often and increasingly only purchasing to replace worn out items. Men have also become bargain hunters and half mainly buy clothes when they are on sale, as well as comparing prices more before buying.

The menswear market is under-serviced compared to the womenswear market, with few specialist male clothing retailers. Men are more optimistic about their financial situation than women and while clothing is less of a priority for them, they are still purchasing new clothes. Over half of men are willing to pay more for a brand they like and a third are buying clothes online. This all creates an opportunity for further growth in the menswear sector.

“The menswear sector is an area with considerable growth potential as there are only a few big menswear clothing specialists and most fashion retailers have tended to concentrate on women’s clothing over men’s clothing. Men’s fashion appears to be undergoing a revival with several high street unisex retailers including H&M, Gap and Jigsaw focusing their attention on men, with high-profile campaigns, collaborations and pop-up stores.” – Tamara Sender, Senior Clothing Analyst

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Men’s clothing sales have risen 12% over the last five years to reach £10.4 billion in 2012. While the market has continued to grow in 2012, increasing by 2% despite the tough economic climate, deflation has muted growth.

Mintel estimates that the men’s outerwear market will see growth of 11% between 2012 and 2017 as more clothing retailers focus on menswear.

 

Shopping behaviour in different age

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Men aged 16-34 are the main clothes shoppers, with almost half buying clothes once a month. The youngest in this group, the 15-24s, are set to decline by 13% over the next five years and as they are the most keen to keep up with the latest fashion trends and enjoy shopping for clothes the most, this could create challenges for the menswear market.

However, the 25-34 age group is expected to rise in number by 11% between 2012 and 2017, creating an opportunity for the industry to grow sales amongst these men who are shopping the most frequently. They shop online the most and favour fewer but better quality clothes presenting opportunities for premiumisation in the menswear sector and for multichannel retailers to focus on quality.

Men are increasingly spending their money on designer brands and continue to invest in quality items, resulting in ongoing demand for premiumisation in the menswear market. As 25-34s overtake the younger 16-24s to become the most frequent clothes shoppers, young fashion retailers will need to grow their customer base to include these slightly older consumers. This age group tend to prefer to invest in quality items that will last meaning that retailers such as H&M and River Island could have more premium collections focusing on quality targeting these consumers.

As the population ages, fashion retailers need to do more to target these older consumers who tend to buy clothes for replacement. Image-conscious Baby Boomers, who have disposable income, are more fashion aware than their predecessors, and are therefore a good prospective market.

Men are split over the importance of price and quality in fashion. Price is the deciding factor for men aged under 55, while over-55s are most interested in the quality of the clothes.

 

Shopping behaviour in different social class

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The 9% predicted rise in the number of men in the C2 group over the next five years could provide new avenues for growth for the sector as these men go shopping the most often for clothes. While C2s are still spending on buying new clothes, they may have traded down as they are mostly shopping in less expensive stores than 12 months ago. Supermarkets have benefited from them cutting back as they tend to shop at Asda and Tesco and consider that supermarkets offer a good selection of fashionable clothing. However, in order to compete for their custom with value retailers where they also shop, supermarkets need to ensure that they update their collections frequently as this group prefer to shop at retailers/brands that introduce new lines more than once a season.

The 4% forecast rise in the number of affluent ABs will drive demand for top-end brands as these consumers are willing to pay more for a brand they like. Retailers therefore need to ensure that they are offering the right mix of brands that cater to the demands of these well-off men. These affluent men, who have the greatest spending power, are buying clothes less often and therefore are likely to be more choosy about what they buy and where they buy it. Retailers that focus on the in-store shopping environment and on providing excellent customer service are more likely to attract them as customers.

Brands are very important to men when buying clothing or footwear and over half are willing to pay more for a brand they like. Interest in brands transcends socio-economic groups and both ABC1s and C2s agree with this. Affluent men who fall into the AB socio-economic group have reined in their purchases, while C2s go shopping the most for clothes.

 

Shopping online

A third of men buy their clothes online, but are less likely to buy other items of menswear via the internet. Only one in ten males purchase underwear and one in seven footwear online, showing the potential for retailers to push purchases of underwear when men buy an item of clothing. Online clothes shoppers are biased towards 25-34s. Online only retailers such as ASOS and Amazon are the most popular, particularly among under-25s, while multichannel retailers are biased towards 25-34s. Online auction sites attract a wider age range from 25-54s. Both pure-players peak among C2DEs.

Consumers are increasingly using various channels and devices to shop blurring the distinction between buying in-store and online. Mintel’s report Clothing Retailing – UK, October 2012 analysed how people shop and found that when buying men’s outerwear, almost three in ten male shoppers had used the internet as part of the browsing or purchase process, but a large proportion of this was in conjunction with store-based browsing and shopping.

Men are increasingly opting to reserve or pay for clothes online and then pick them up in store to avoid having to pay for delivery or having to wait in all day for the item to be delivered. Click and collect, however, is primarily used by under-35s and Mintel’s online discussion board showed that men over this age are less likely to be familiar with the service, highlighting the potential for a big marketing campaign aimed at over-35 males explaining its benefits.

Fit is also a barrier to men shopping online for clothes, and is not only an issue for women, with over half of males put off from making purchases via the internet due to not knowing if clothing will fit. A new service provided by Fits.me offers online shoppers a virtual fitting room that uses a person’s measurements to create a visual indicator of how the garment will fit the customer. As more retailers begin to offer this service it will make it easier for men to buy the correct size in clothes and will reduce returns that are costly for retailers and inconvenient for customers.

 

Frequency of mens’ shopping

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Men are buying clothes less often in 2013 with a 4-percentage point drop in those making purchases once a month or more since Mintel’s last report published in 2012. As a result of the continuing tough economic climate, most men are only shopping for clothes every few months.

 

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Young men aged 16-24 have cut back the most, with a 10-percentage point drop in those purchasing clothes once a month or more since the last report.This age group, which has seen the highest rates of unemployment are instead shopping less frequently and are opting to only buy clothes every few months.

“I buy my clothes 3/4 times a month, I buy it less often as I should save my money for other things.” – 16-24-year-old C2 male

By contrast, 25-34s are buying clothes more often and have overtaken their younger counterparts to become the most frequent shoppers, with half purchasing garments once a month or more. Men aged 45 and over have also become more cautious and are shopping less frequently, with a 10-percentage point drop in older men buying clothes once a month or more and a 22-percentage increase in those instead purchasing several times a year.

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Property searched online

Lamb’s Conduit Street has become a sophisticated hub for homegrown menswear designers who have forgone the crowds of Soho and Shoreditch to form a close-knit community in historic Bloomsbury. -Josh Sims investigates

 

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First Floor, Rapier House, 40-46 Lamb’s Conduit Street, London WC1N 3LJ

1,570 sq. ft. (145.86 sq. m.)

Description

  • Wooden Floors
  • New Lighting

Location

The property is located on the Eastern side of Lamb’s Conduit Street, which offers a vibrant range of shops and cafes. Transport links to the area are excellent with Holborn (Piccadilly & Central Lines), Russell Square (Piccadilly Line) and Chancery Lane  (Central Line) stations all within close proximity providing quick access to the City and the West End. Kings Cross and St Pancras mainline stations are also a short distance away.

  • Size: 1,570 sq.ft (145.86 sq.m.)
  • Rent: £32.50 per sq.ft.
Rent Service Charge Rates*
per annum £51,025 £8,871 POA
per sq.ft. £32.50 £5.65

The rent for 6 months will be £29948.

Features

  • Comfort Cooling
  • Open Plan
  • Refurbished
  • WCs

 

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Analysis of Pink and T.M.Lewin marketing mix

Product

Pink sell products for both men and women. They have varies styles and designs of shirts and also have suits, jackets and outer wear. They have accessories such different types of ties, cuff links, belts and socks ect. T.M.Lewin sell the exact same products.

 

Price                                          Pink                                                          T.M.Lewin

Formal shirts                       £69 to £225                                                 £20    to £199

Casual shirts                         £55 to £135                                                  £25    to £89

Evening shirts                            £99                                                          £44.5 to £89

 

Place

Pink is more worldwide with stores in 12 countries. Their locations in all those countries are at the higher end of the cities, located along with other High end and luxury brands.

T.M.Lewin is less worldwide with stores in only 5 countries around the world. Their locations in those countries are at high street level rather than luxury level.

 

Promotion

Pink: Facebook, Twitter, Website, YouTube, Pinterest, Google+, Magazine(Esquire, The Times). Facebook and Twitter are both regularly updated with new post daily for the 26k+ followers for Facebook and 10k+ on Twitter.

T.M.Lewin: Facebook, Twitter, website, YouTube, Pinterest, Google+, always have promotions and offers if you buy multiple shirts. Facebook and Twitter are both regularly updated with new post daily for the 28+ followers for Facebook and 10k+ on Twitter.

Due to the modern media, unfortunately the figures given for the followers of Facebook and Twitter may not be accurate because you now can buy followers easily to promote your business and make it look better and stronger so this could possibly be a factor.

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Group Rules

Rules are always good to regulate our group and to keep us on our toes and fully alert of any group activities so we can pass this assignment with flying colors!!!

Our group rules are:

1. Be punctual and ready to contribute.
2. If you can not attend a meeting, inform the group in advance.
3. Each member of the group must contribute in the group talk and give their views, ideas and thoughts.
4. Listen and respect each person of the group when they are talking. Do not talk over them.
5. If the majority of the group agrees then that will be the decision of the group.
6. Group punishment- if you do not attend 2 group meeting In a row them your punishment will be to buy the group a hot/cold drink for the next meeting.c
SO ATTEND ALL MEETINGS!!!

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Brand Audit for 2 competitors-PINK & T.M.Lewin

Our business is based on ready made and customized men’s wear shirts. Our brand is called “Only Me”. Two main competitors are “Pink” and “T.M.Lewin”.

Brand Touch points

Pink

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Online– The website is very clear and exciting. Straight away you see various styles of shirts and varies color options with recommendations to suit your needs. Customer service contact details are available clearly in one corner. It is very organized and easy to use. They advertise their blog, YouTube advert and e.vouchers. When you click on a item, you will get different view, colors and size options with a paragraph explaining more about the item. You have an option to undergo their virtual fitting room by choosing your body dimensions, this is extremely helpful if you don’t know your size.

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In store– Pink originated in Jermyn street London, but now have many stores in London and around the world. The stores give you a very matured and classic feel, with everything being very organized and clean. The front of the stores are black with a large gold “PINK” logo in capital letters.The fixtures are wooden and the floors and walls are a basic color. The cloths are neatly folded or hanged beautifully.

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Purchases– The brands image is very formal and classic office wear. The staff are extremely helpful with their affective customer service. They offer a 28 day refund policy with the original receipt. The receipts and the shopping bags are also pink. The bags are not plastic but waxed paper with strings to carry.

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T.M.Lewin

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Online– The website is quite simple and plain but also very organized. Shirts for both men and women or suites are very big on the front page, easy for you to search depending on what you want.They advertise there social media such as Facebook and Twitter. They have T.M.Lewin tv and live chat if you need advice. Customer service contact details are also available on one corner.

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In store– T.M.Lewin originated in Jermyn street London, but now have many stores in London and around the world. The front of the stores are very simple and basic, usually in black or just glass. The logo is always above in either black or white. Inside the stores, they have wooden fixtures for their shirts and silver rails for their suits, which maintains a classic office wear feel.

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Purchases– The brands image is formal affordable office wear with quality goods. The staff are helpful with good customer service. They offer a 90 day refund policy with the original receipt. The receipts are basic and white.

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The difference between these two business is that Pink is at a much higher end and their goods are at a better quality, meaning that they are much more expensive than T.M.Lewin.  Pink has more stores worldwide and in more countries. Their locations in all those countries are at the higher end of the cities, located along with other High end and luxury brands, this gives you the impression that Pink is part of the big brands around the world. The websites are also different, Pink being much more easier and user friendly. Pink’s website is also beautifully laid out and gives you the impression of quality and luxury compared to T.M.Lewin.

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