Marketing Strategy and Insight
Introduction
From Manchester’s best kept fashion secret to the UK’s biggest own- brand, pureplay fashion etailer, boohoo has quickly evolved into a global fashion leader of a generation (https://www.boohoo.com). boohoo pride themselves on being social, inclusive, fashionable and fun. Their ambition is to be the leading online
fashion brand for 16-24 year olds.
Since boohoo was established in 2009, the world has changed. boohoo is facing up to the future and are prioritising doing m ore for their clothes, their suppliers, their communities, and their impact on the environment.
They’re looking hard both inside and outside their business to come up with a plan which will help them be READY FOR THE FUTURE as they pledge “Clothes Made Smarter, Suppliers On Better Terms, Our Business Taking Action”. There is work to be done, and they want to be open, upfront and frank on the progress they’re making.
boohoo are keen to change the narrative, starting with a call to use clearer language as they strive to become the next ‘regenerative’ brand in favour of adopting buzzwords such as ‘sustainability’.
The Brief
boohoo has recently carried out research which seems to disprove the fast fashion stereotype that cheap clothes aren’t sustainable and that consumers don’t care about regeneration.
For example:
• 55% of boohoo customers report wearing their clothes until they’re no longer wearable
• 66% disagree that they buy clothes with the intention of wearing once
Your task is to carry out research to explore how the current boohoo consumer in the UK is responding to sustainability in terms of their current shopping habits. In order to achieve a more regenerative future, one that helps consumers re-evaluate eco consciousness and drive more conscious consumption, boohoo have identified the following areas as key to their potential success:
Marketing Strategy and Insight
• Materials & design
• Packaging & waste
• Consumer perception
• Resale & recycling
Of the above, establish and justify one area that offers the most scope to future proof the business. You will need to consider any patterns of behaviour that are starting to emerge that could positively influence boohoo’s regeneration progress and enable their consumer to achieve ecological balance.
Create a three year marketing strategy plan which centres around your identified area of regeneration.
This should be clearly informed and underpinned by your key consumer insight combined with the information provided by boohoo.
Marketing Strategy and Insight Report
Introduction
• Introduce the report and the company. Consider contextual background.
• Clear position of your central idea/question. What do you hope to achieve?
Methodology
• A description of the research conducted and “how”. This must be supported by both primary and secondary research, and clear justification for each method. Particularly consider how you can move beyond quantitative studies and include rich qualitative data.
• How you analysed the findings.
Market Overview & Situation Analysis
• Mission/vision statements, and business objectives.
• Recent brand performance
• What is boohoo’s USP?
• What are the core competencies of the brand?
• Which categories does the business compete in?
• Identify and analyse the key competitors with justification for your choices with consideration of how boohoo gain competitive advantage(s).
• Explore boohoo’s current strategy for sustainability and where boohoo is positioned/perceiv ed within the UK market.
• Identify and analyse appropriate macro/micro trends that would have the greatest influence over the future success of boohoo.
Marketing Strategy and Insight
• Evaluate the existing target audience/s and consider their key characteristics and behaviours. Analyse current stereotypes around fast fashion and sustainability and if the consumer is playing into these (e.g. quick disposal of cheaper fashion).
• Reflecting on the internal and external environments, provide an outline summary of the brand’s imperfections in relation to sustainability and consider the opportunities for regeneration through people, planet and profit.
Consumer Insight
• Interrogate your chosen area of regeneration and consider specifically what insight you have uncovered.
• In context of the above point, how have you challenged/built on boohoo’s existing insight? Make explicit reference to how this drives eco consciousness and conscious consumption
• Why is this insight important?
• How does this insight challenge the status quo?
• What are the starting points to act on this insight?
Marketing Strategy
• boohoo’s ambition is to face up to the future, doing more for their clothes, their suppliers, their communities and their impact on the environment. What headline objectives need to be set to get there? Ensure these are SMART.
• How should boohoo be positioned with regards to regeneration? Does the brand/price have an impact on the longevity of clothing?
• Who should the brand target and why? Are there negative stereotypes which need to be dispelled?
E.g. Cheap(er) clothes are typically thrown away after not much use contributing to landfill waste.
Develop at least two detailed consumer profiles.
• As continual learning becomes a key pillar of the boohoo brand, explore the most effective approach to take to ensure Corporate Social Responsibility (CSR) lies at the heart of the business.
• Propose a three year marketing strategy for boohoo outlining how they can be more open to their consumers about their regeneration progress. Please focus on the area you have identified.
• Consider how you will align your strategy to the United Nations 17 Sustainable Development Goals with a clear reference to how you will assess and evidence what impact boohoo has on each.
Marketing Strategy and Insight
Conclusion and Business Recommendations
• Draw together the main points of your report. Summarise your ideas and evidence and show how they answer the brief.
• Consider any potential communication ideas to implement your strategy. How can boohoo communicate their plans effectively to be more regenerative within fashion?
• Although this should be presented as a proposal of your ideas, you will need to consider typicalcosts that would be assigned to these communications using a budget of £500K. For this, you will need to p rovide a top-line sales forecast and a marketing budget
• Based on your insight and proposed strategy, outline any other key business recommendations going forward.
Assessment Requirements
• Marketing Strategy and Insight Report is 3,500 words (+/- 10%). The finished document should be developed in either Photoshop or In-Design. Visuals are to be included in the document and presented in a way that reflects the brand.
• For any supplementary information, please include an appendix.
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