Jack Mason

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Jack Mason

Fossil, MVMT, and Daniel Wellington all have a simplistic approach to marketing with simple creative featuring a collection style and the product price. Details of each company as well as marketing best practices have been provided below.

Fossil

MVMT

  • MVMT has been in business for 7 years since 2013.

Daniel Wellington

  • Daniel Wellington has been in business for 9 years since 2011.
  • The company's target audience is men and women ages 18-35 in college or middle to upper class professionals.
  • Daniel Wellington uses simplistic advertising in online creatives, however, they do not have any TV advertising providing a view of their product with a model and a sale advertisement. A marketing example has been provided below:
  • The company's best-selling collections include the following:
  • Watches start at $79.50 and top out at $229.
  • The company has the following social media and digital media accounts:

Market Positioning Best Practices

Choose Only One Brand Value

  • When looking at positioning, there are three essential values that brands can market as: operational excellence, product leadership and customer intimacy. These are better described as the best offering, the cheapest offering, or the most comprehensive offering.
  • In order to have effective marketing, a brand needs to choose one of the above offerings to focus on as they cannot offer all three.
  • The best way to decide which category and ultimately, what the company should be known for is to understand the market including demographics, segments, consumer pain points, how well the brand and its competitors provide solutions, how the brand provides value, and its strengths and weaknesses.
  • Once all the data is compiled, a good positioning strategy will have a unique element to it to truly add value to the consumers.
  • Note: while price is a common position taken by brands, it is hard to maintain a competitive edge in long-term.
  • Once the unique offering is decided, the brand should develop a unique positioning statement to solidify the offering. For example, "For upscale American families, Volvo is the family automobile that offers maximum safety."

Use Emotion In Development

  • In order to entice customers and ensure that a strategy is as effective as possible, it should connect to customers on an emotional level.
  • In order to achieve this, a brand should have a strong understanding of their target market including what is important to them and what will provide them with value.
  • A brand should identify the best features and benefits for their customers and utilize them in their positioning.
  • A positioning statement and story about the brand should mention the brand and its overall messaging throughout the company materials. This way the customer connects to the brand name.
  • Any visuals chosen, including design, color, and text, should have a similar theme as the company's overall personality. Benefits offered to consumers should convey emotion and the brand imaging should support this.
  • Worldwide chief creative officer of SapientNitro, Gaston Legorburu stated, "it’s not about having consumers adopt your values, it’s about them relating to them and making connections. Really successful brand strategies are the ones where there’s a gift — a value set — and it really connects."

Define How Products Are Priced

  • Customers are willing to be flexible with their price points when there is added value to a product, however, nearly 50% of sales people know what features influence the cost of products and most consumers don't know why they are paying so much for different products.
  • By defining what benefits influence the price of a product or service, i.e. a watch is more expensive because it has high tech features and tracks sleep, consumers will feel more comfortable paying a higher price. Additionally, if the price is lower than competitors but a brand is offering similar features, consumers can make an informed decision.
  • By creating a competitive map of the market, a brand can identify the relationship between its benefits and prices.
  • In addition, mapping will allow brands to benchmark themselves against rivals.
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