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Lacoste - Case Study Report

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The case study was a part of the curriculum of Retail Marketing course at the University of Groningen in 2015.

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Lacoste - Case Study Report

  1. 1. + Omni-channel Marketing Report Bianka Apostolova (S2710714) Maria Djigovska (S2695146) Mariam Talakhadze (S2818353) Weixiang Wang (S2509652) University of Groningen, Retail Marketing, Tutorial Group 3B4 Lacoste: The Crocodile Sells Online! 24/09/14
  2. 2. + Table of Content n  Introduction n  Target Audience Overview n  Competitors n  Analysis of Competitor Websites n  Old vs. New Retail Business Models n  Customer Journey n  Online Marketing Tactics n  Multi Channel & Supply Chain n  Communication for Long Tail n  Measuring n  Sources University of Groningen, Retail Marketing, Tutorial Group 3B4 2 24/09/14 3 4 5 6 7 8 9 24 25 26 27
  3. 3. + Introduction n  Problem #1: Lacoste has just launched a new online shop in Europe and top managers need an online marketing strategy that will promote the website within its target audiences; in the long run, it is also necessary to establish a multi-channel approach to optimize synergies online and offline; n  Problem #2: Lacoste does not have a reputation of a modern and young brand, the brand is considered as a “men only”. The brand is associated with sports, golf and tennis in particular. Only loyal fans and sportsmen (in tennis and golf) affiliate Lacoste as a sports brand; n  This report will start analyzing external factors (e.g. customers, competitors), followed by an innovative online marketing strategy, along with detailed explanations. n  This report also proposes an omni-channel strategy integrated between physical stores and online shop in order to stimulate significant dual sales and strengthen brand values in customers’ perceptions. 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 3
  4. 4. + Target Audience Overview n  Lacoste’s Primary target audience would be young adults (F/M) at the age of 25-34. A lot of their casual wear is designed with this age range and style in mind. n  On the other hand, it also aims for the people that are higher up the socio-economic who have social status and more money to spend. n  Secondary target audience for Lacoste would be tennis and golf players and generally, people who are interested in sports; n  Lacoste have recently released their Live! brand, which is aimed at a slightly younger audience of 18-24 years. n  Market positioning: Luxury, sportive. 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 4 5% 15% 25% 20% 20% 15% Target Customers 18-24 25-34 35-44 45-54 55-65 65+
  5. 5. + Competitors Founded 1933; Rich history; Revolution in men’s fashion: the classic Lacoste polo shirt; ”lifestyle brand combining elegance and comfort”; Crocodile - trademark, incarnates the elegance of the champion Rene Lacoste. Channels: boutiques, retail corners, online shop. Founded 1967; one of the innovators of lifestyle advertising that narrates stories; Focuses on luxury classic American style clothing, balance between “timeless and modern” feeling Slightly higher prices; Channels: boutiques, retail corners, successful e-shop. Founded Late 1940s; “more rebellious luxury brand”, British style Price range: between Lacoste and Ralph Lauren; Channels: boutiques, retail corners, successful online shop. Founded 1985; Relatively young brand compared to the others; “blending the country casual look with a streetwise urban edge” ”Classic American cool style, featuring preppy with a twist designs” Perceived as a modern brand; Similar distribution channel network. Founded 1924; Premium and luxury segment of the global apparel market; Combination of modern and sophisticated casual look, edgy, urban attitude, urban casualwear and dynamic look; Similar distribution channel network. Founded 1856; “Iconic British luxury brand” Similar distribution channels and campaigns featuring celebrities; Advantage: “creating customer delight through innovation in technology and providing best-in- class customer experience, both online and in its boutique stores” 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 5 DATA TAKEN FROM: lacoste.com/library/contents/press/pdf/LACOSTE_presskit_en.pdf group.hugoboss.com/en/corporate_profile.htm global.tommy.com/int/en/about/overview/14 adbrands.net/us/tommyhilfiger_us.htm group.hugoboss.com/en/brand_profiles.htm businesstoday.intoday.in/story/innovation-burberry/1/20187.html sites.google.com/site/lacosteproject/strategic-analysis burberry.com LOGOS TAKEN FROM: lacoste.com, raulphlauren.com, fredperry.com, tommy.com, hugoboss.com, burberry.com
  6. 6. + Analysis of Competitor Websites 0 10 20 30 40 Bounce Rate (%) Lacoste.com RalphLauren.com fredperry.com usa.Tommy.com HugoBoss.com Burberry.com 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 6 Alexa Rank* PV/Visitor** Time*** Lacoste.com 14611 4.59 3:39 RalphLauren.com 4542 8.20 5:35 Usa.Tommy.com 9541 6.20 4:14 HugoBoss.com 11372 4.72 3:58 Burberry.com 10350 5.17 3:48 FredPerry.com 64796 5.30 3:53 n  The most popular website is Ralph Lauren; n  Lacoste’s website performance is the poorest after Fred Perry; n  Lacoste (29.80%) - highest bounce rate means the worst performance; n  Daily pageviews/visitor: Ralph Lauren – highest rank (8.2), Lacoste – lowest (4.59); n  Daily time on site: Ralph Lauren - highest score (5:35), Lacoste – lowest (3.39); The data is takes from the database of Alexa.com on 24/09/2014. *Alexa Traffic Rank is calculated daily using a combination of average daily visitors to this site and pageviews on this site over the past 3 months. The site with the highest combination of visitors and pageviews is ranked #1. ** Estimated daily unique PageViews per Visitor on the site. *** Estimated daily time on site (mm:ss) per visitor to the site. Bounce Rate is a percentage of visits to the site that consist of a single pageview.
  7. 7. + Old vs. New Retail Business Models 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 7 Traditional RBM Innovative RBM Retailing format (structures for retail activities) •  Physical store as customer interface with limited assortment •  Selective location and standard design •  Sales/revenue depend on customer visit frequency/coverage •  Normal pricing strategy •  Multichannel such as “click and mortar” •  Adequate assortment, easy to search by engines •  Location information available online •  Virtual and convenient customer interface •  Complement effects of omni-channel on sales •  More information and price comparison on e-shop •  Easier to compute mass customer data Retailing activities (acquiring, stocking, displaying, exchange product & services) •  TV, newspaper, magazine advertisement •  Sales representative •  Model/window display in stores •  Huge stock stream between stores •  Simple desk services •  Social media and digital acquisition by e-advertisement, link share and word-of- mouth •  Spacious stocking/product line and depth •  Diverse Home Page show/website mobile advertisement •  Online stock check and home delivery or pickup service •  Facilitate the purchase by mobile apps •  More efficient ways to engage online customers by website forum and self-design Retailing governance (motivate to repurchase) •  Price promotion •  Membership card •  Recommendation system •  Limited awareness of long tail products •  Fast self-checkout •  Co-design with buyers through style chooser for example •  Superior and extra services fulfill higher level of satisfaction •  Explore their unmet needs by continuously reinforce the relationship with customer. (e.g. social media, E-mail marketing, blog, content marketing etc.) Sources: 1. Sorescu, A., R.T. Frambach, J. Singh, A. Rangaswamy and C. Bridges (2011), "Innovations in Retail Business Models", Journal of Retailing, 87 Supplement 1, July, S3-S16 2. New Retail Business Model (Sorescu A. et al 2011)
  8. 8. + Customer Journey (Service Blueprint3) University of Groningen, Retail Marketing, Tutorial Group 3B4 8 24/09/14 Identifies the Need Online Search Calls Friend Browses the website Makes a Decision Goes to the store Tries on Chooses another thing Makes the purchase Goes Home Ads and Review Online Blogger Relations Website Features Delivery Options Social Media Trying Room Touch screen Displays Mobile App Glossy Magazine Greeting Consult Suggest Payment Physical Evidences Customer Actions Frontstage Backstage Support Processese Full version of the Service Blueprint is accessible at the following link: http://bit.ly/1r6GrWw Order Processed Tablet Software
  9. 9. + Online Marketing Tactics n  Website Features n  Website Promotion in Offline space n  Blog n  Email Newsletter n  Social Networking Platforms n  Niche Social Networking Platforms n  Content Marketing n  Social Media Posting Plan n  Online Advertising Platforms n  Online Word of Mouth n  Search Engine Optimization n  Mobile App Following tools and tactics will be used in order to increase traffic on the website and engage customers with Lacoste’s brand on daily basis. 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4
  10. 10. + Website Features n  Website will sell all products that Lacoste produces (Big Head + Long Tail). n  It will make suggestions and recommendations of Long Tale while consumer is browsing the website. n  Store traffic will be minimally affected as the website will be primarily targeted to new younger audiences who already have habits of online shopping; n  It does not mean that old customers cannot buy from the website, but it is less likely that they will change their buying habits. n  Overall sales will increase with the help of online store; 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 10 Website features Broader selection than physical store Richer product / brand information (photos/ videos) Customer reviews, tips and comments Share buttons for Facebook, Twitter, Pinterest, etc Home delivery and Pickup Services Comparison of Products Style Chooser Stock Check Membership and gift giving services Information about the company
  11. 11. + Website Promotion in Offline space n  Website will be promoted online and offline (through stores): n  Brand Cards with QR codes (that contain link to website) could be handed to the customers upon purchases; n  Website address should be printed on shopping bags, posters, desks, labels, etc.; n  Monitors should promote website by video and photo content; n  A touch screen monitors can be installed with an opportunity to order from the website directly from the store (i.e. if the are out of stock or color or size) 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 11
  12. 12. + Blog n  participation in discussions on Lacoste brand n  direct contact with the consumers n  contact with opinion leaders fans of Lacoste n  gain better understanding of how customers feel about the brand - impressions, associations n  Better understand the customer needs n  History behind the brand, evolution n  News about fashion industry, fashion trends n  News about Lacoste, achievements of the company n  Recent and future events that the company organizes or participates in n  Newest collection, fashion shows n  News about outlet stores n  Articles about fashion, fashion shows n  Discussion on how the brand is perceived by the customers n  What they like/do not like about the products, stores, online shop? n  Discussion on favorite products n  Ideas, recommendations by customers n  how products are being produced, what materials are being used - explained in an interesting way (with pictures, a cartoon for example) University of Groningen, Retail Marketing, Tutorial Group 3B4 12 Why is this important? Topics for the Blog 24/09/14 A corporate blog must be created on Lacoste’s website which will provide interesting content and prolong the time users spend on the website.
  13. 13. + Email Newsletter n  regular contact with the customer n  develop a distinct impression in customer’s mind n  By communicating the brand values, traditions, innovations n  History of the brand and company, evolution n  News about the company, recent achievements, events n  News about fashion industry, fashion trends n  Newest collection - photos, why is it new - materials, manufacturing innovation, etc. n  Product line of the week - pages with a focus on different product category - sports wear, casual clothing for men, women, children, accessories, etc. n  Lacoste’s quote of the week - associated with Lacoste brand and its values n  Announcement of Lacoste events - connected to Lacoste’s corporate social responsibility n  Brief customer online survey about the brand, products, store, etc. And the results - published in the next newsletter University of Groningen, Retail Marketing, Tutorial Group 3B4 13 Newsletter Creation Newsletter – topics: The newsletter - providing direct access to the website, online store and blog 24/09/14
  14. 14. + Social Networking Platforms n  Facebook Page – It is going to be the largest traffic generator to the website and/or other social media platforms. Pictures of Lacoste products and Videos of new marketing campaigns will be posted daily. Fun infographics and statistics will be reposted from Tumblr. n  Google Plus – This channel is important for Google Search and Search Engine Optimization. Facebook efforts will be duplicated to this channel. n  Twitter – 271m people use Twitter every month around the world. 78% of them are on mobile and 77% are outside the U.S. It is an appealing global communication channel for Lacoste, especially for connecting with young audiences. n  Youtube – Lacoste’s advertisements and video materials will be hosted on this channel and distributed through other social networks. University of Groningen, Retail Marketing, Tutorial Group 3B4 14 Content Marketing is the most recent emerging marketing tactic. Lacoste is going to create interesting content (photo/video/graphic) and distribute throughout all its digital channels. 24/09/14 SOURCE: twitter.com
  15. 15. + Niche Social Networking Platforms n  Instagram – Daily photo updates from Lacoste Stores, Offices and Runways will be posted to young mobile users. n  Pinterest – Photos of Lacoste’s fashion products, collages and fashion tips will be Pinned to Lacoste Pinterest boards. Pinterest works as an effective traffic generator to fashion blogs and apparel web shops. n  Tumblr – Cool product photos, memes, infographics and ad campaign graphics will be posted daily. Hashtags will be used excessively. n  Polyvore – Fashion bloggers and stylists use Polyvore as a tool for making fashion collages. Lacoste is going to add its fashion items to the Polyvore’s product catalogue. University of Groningen, Retail Marketing, Tutorial Group 3B4 15 Niche social networks are very popular among young internet and smartphone users. 24/09/14 SOURCE:polyvore.com
  16. 16. + Content Marketing n  To gain more visitors, it is preferable to make memorable, fun content and share through different online channels. n  Examples: n  Infographics will consist of information about the brand, the new collections, the history and interesting facts. They may result in more shares, likes and comments on Facebook, Twitter, Pinterest and the other Social networks. The purpose is to show to people information about the brand in an interesting and capturing way; n  Weekly Meme – “Man in a Polo” – fun stories of a man with a supernatural powers who wears Polo as his costume. 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 16
  17. 17. + Topics for Content Marketing: n  The fun figures about sales of Lacoste polo around the world; n  “For every Lacoste Polo there is a…” - Strange correlations between sold Polos and the world; n  Fun ways to use Lacoste App – push on the amazing features of Augmented Reality; 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 17
  18. 18. + Social Media Posting Plan Content Piece Examples Format Platform Frequency Comment Quotes about Lacoste’s Brand Text + Picture Twitter, Facebook, Google Plus  Weekly Quote associated with Lacoste values, traditions, history Text on the Picture Instagram, Newsletter Product of the week Text + photo Twitter, Facebook, Google Plus, Instagram  Weekly - Text (more detailed information) + gallery Newsletter More detailed information Announcement of Lacoste events Text, photo, advertising Twitter, Facebook, Google Plus, Instagram Once/twice per month depending on event frequency Main information about the event   Text, photo, advertisements, interviews Newsletter More detailed information about the event, organisers, participants, partners Newest collection Text, photos, advertisements, comments concerning the new collection by famous people Twitter, Facebook, Google Plus, Instagram Whenever there is new collection Main information about the newest collection   Test, photos, comments concerning the new collection by famous people, interviews Newsletter  more photos, information, interviews University of Groningen, Retail Marketing, Tutorial Group 3B4 18 24/09/14
  19. 19. + Online Advertising Platforms n  Facebook Ads – will be used for promoting Lacoste’s Facebook Page and its important updates (Boost Post). n  Google Adwords – Can be used to promote Lacoste’s new e-commerce website for specific keywords, i.e. ‘Polo shirt’. n  Adroll Retargeting– Retargeting will keep track of people who visit Lacoste’s site once and displaying its retargeting ads to them as they visit other sites online, i.e. blogs and fashion websites. University of Groningen, Retail Marketing, Tutorial Group 3B4 19 24/09/14
  20. 20. + Online ‘Word of Mouth’ n  A few of the famous bloggers, video bloggers and online celebrities from the field of fashion and style should be invited to Lacoste’s special gatherings, store openings, presentations and runways. n  Lacoste should assign a PR representative, serving as a direct Contact Person for selected ‘bloglebrities’, so they get response to all of their questions and feel special and cared. n  Lacoste can give out goodie bags and small gifts to these people to create excitement around the brand. n  In no circumstances should Online Magazines, Youtube video series and other types of publications about fashion and style be forgotten while selecting the key people from the field. University of Groningen, Retail Marketing, Tutorial Group 3B4 20 Lacoste needs to reach new target audiences through internet opinion leaders and fashion bloggers, so they start mentioning Lacoste in their updates. 24/09/14
  21. 21. + Search Engine Optimization n  If you conduct a Google search for ‘Polo Shirts’, neither Lacoste’s website, nor the brand name mentions and social channels are found. n  Being on the front page of search results will add credibility and value to Lacoste’s brand. n  In order to reach SEO objectives, Lacoste’s website should be technically optimized for several strategic keywords, i.e. ‘polo shirts’. University of Groningen, Retail Marketing, Tutorial Group 3B4 21 Young target segments often conduct Google search while shopping online or before making purchase decisions. First links in the organic search results are considered of the highest quality and credibility. 24/09/14
  22. 22. + Example keyword: “the Best Polo Shirt” n  The article from Telegraph called 10 of the Best Polo Shirts for Men does not include Lacoste’s Polo; n  The article from Esquire called Six Of The Best Polo Shirts (because you're about to start wearing them a lot) does not include Lacoste’s Polo; n  The article from Esquire called 15 Polo Shirts Under $100 includes Lacoste’s classic Polo (Is this a good message?!); n  The article from the Richest called The Top 10 Most Sold High End Polo Shirt Brands puts Lacoste’s Polo on the first place; University of Groningen, Retail Marketing, Tutorial Group 3B4 22 Bad News Good news Problems and highlights have been identified by search result analysis of the first page for this particular keyword. n  Lacoste can optimize not only its own website, but place ads and articles on all the other websites which already appear on the first page in the top search results . 24/09/14 Search Results: http://bit.ly/1ukwfLh
  23. 23. + Mobile App n  The app will have for main features: n  Shopping Cart – browse Lacoste product gallery, add to cart and checkout. n  Shop locator / opening hours n  About the company / blog updates n  “Lacoste Reader” – special barcode scanner for scanning product labels n  Lacoste introduces a new kind of labeling for its products and presents augmented reality in its stores! n  Every piece of clothing and accessory will have a special label for mobile scanning. Customer can scan the piece and use mobile style chooser to find other complementary products or personalized recommendations. n  Every stand, poster or marketing material could be scanned and they contain coded information to release in the augmented reality, such as videos, shop tours, product care information, etc. n  Example: www.layar.com technology; n  Customers can share the links to the products by scanning the label and sharing to social networks. University of Groningen, Retail Marketing, Tutorial Group 3B4 23 24/09/14
  24. 24. + Multi Channel & Supply Chain n  For stimulating the visit of both online and offline shops different promotions must be conducted; n  Example: if you order over 250 Euros you get free express delivery to home or nearby pickup point (delivery within 4 hours). n  For costumers who ordered products and are coming to pick them up at Lacoste store there must be parking space available and a fixed spot for the customers, making the visit faster and more enjoyable. n  Lacoste’s online shop will have home delivery as well as pickup service at the store; The latter will encourage them to visit the stores; n  “Store-only” events and promotions can be conducted to support store traffic; n  Pickup service should work 2 or three days a week, while delivery service should work everyday (except weekends); n  5 business days should be maximum waiting time for ordered products; 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 24 Supply Chain Management
  25. 25. + Communication for the Long Tail n  There is no way that every product can be displayed in the store as the space is limited; n  Innovative touch screen monitors can be installed in the stores; Long tail products can be displayed on these monitors next to the Big Head products and can be browsed and ordered right form the spot from the website database; University of Groningen, Retail Marketing, Tutorial Group 3B4 25 24/09/14
  26. 26. + Measuring n  Traffic goals n  Conversion Rate n  Repeat Customer Count n  Profit from the online sales n  Profit from the offline sales n  App downloads n  Facebook Likes, Facebook Engagement, Ad performances, n  Google Plus +1s, Google Adwords performance n  Instagram Followers, engagement n  Twitter Followers, engagement n  Newsletter Subscribers n  Blog comments University of Groningen, Retail Marketing, Tutorial Group 3B4 26 Operational and Financial figures Online Figures 24/09/14
  27. 27. + Sources: References: n  lacoste.com/library/contents/press/pdf/ LACOSTE_presskit_en.pdf n  group.hugoboss.com/en/corporate_profile.htm n  global.tommy.com/int/en/about/overview/14 n  adbrands.net/us/tommyhilfiger_us.htm n  group.hugoboss.com/en/brand_profiles.htm n  businesstoday.intoday.in/story/innovation-burberry/ 1/20187.html n  sites.google.com/site/lacosteproject/strategic-analysis n  burberry.com n  global.lacoste.com/ n  www.ralphlauren.com n  brandlacoste.wordpress.com/2012/01/30/competitor- analysis n  twitter.com n  adroll.com n  layar.com 1.  Sorescu, A., R.T. Frambach, J. Singh, A. Rangaswamy and C. Bridges (2011), “Innovations in Retail Business Models”, Journal of Retailing, 87 Supplement 1, July, S3-S16 2.  Sorescu A. et al, “New Retail Business Model” (2011); 3.  Mary Jo Bitner, Amy L. Ostrom, Felicia N. Morgan, “Service Blueprinting: A Practical Technique For Service Innovation” (2008); 24/09/14University of Groningen, Retail Marketing, Tutorial Group 3B4 27
  28. 28. + Bianka Apostolova (S2710714) Maria Djigovska (S2695146) Mariam Talakhadze (S2818353) Weixiang Wang (S2509652) Omni-channel Strategy 24/09/14 University of Groningen, Retail Marketing, Tutorial Group 3B4 28

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