final liz claiborne
DESCRIPTION
TRANSCRIPT
Group 6: Aminata Wurie, David Chak, Laura Galin, Rebecca Varon, Sophia Herbst, Stephanie Taras
A lifestyle brand for the modern woman
Driven
Chic
Passionate
TalentedAbsolutely Global
Unstoppable
Are You That Woman?
COMPANY HISTORY
LIZ CLAIBORNE INC.Domestic-
Based Direct Brands
International-Based Direct
Brands
Partnered brands
…and more
COMPANY SALES BY BRAND TYPE
37%
35%
28%
Domestic-based direct brands
Partnered brands
International-based direct brands
LIZ CLAIBORNE“ENDLESS OPPORTUNITIES”
Liz Claiborne is currently witnessing a slowing growth in the demand for its product.
OUR PROBLEM
GRAPH OF CURRENT SALES
Recorded Revenues (FY2010) in millions
Compared to 2009
Domestic-Based Brands $1,120.7 -7.2%
Partnered Brands $1,059.3 -32.7%
International-Based Brands
$831.9 -30.8%
Company Record $3,011.9 - 24.4%
OUR SOLUTIONLiz Claiborne should realign its marketing strategy to attract younger women.
Strengths
-Well established brand-International presence-Quality goods, moderate price-Stable customer base (working women)
Weaknesses
-Not attracting younger women-Consumer mentality not in line with company’s objectives-Limited distribution (JC Penney)
Opportunities
-Huge market for younger women-Possibility for lifetime brand loyalty
Threats
-Competition-Demand for fashions is constantly fluctuating
SWOT ANALYSIS
“OUR STRATEGY IS TO BUILD POWERFUL,
LIFESTYLE BRANDS THROUGH A
BRAND-CENTRIC, DECENTRALIZED APPROACH,
FOCUSING ON GREAT PRODUCT - SPECIAL ANDEXCITING FROM A VALUE
PERSPECTIVE.”
-BILL MCCOMB, CHIEF EXECUTIVE OFFICER
A lifestyle brand:Unique, Creative, Stylish, Emotionally
Charged
Iconic, guaranteed quality and credibility
Exclusive to JC Penney
Priced affordably
Customer driven, brand-centric approach
Ethical company standards
CURRENT BRANDING STRATEGY
Before…
… After
30 years of success
Fortune 500
Global company – 40+ countries
Isaac Mizrahi: Creative Director for Liz
Claiborne NY
Tim Gunn: Chief Creative Officer
SOURCES OF BRAND EQUITY
LIZ CLAIBORNE INC.A COMPANY THAT
GIVES LizACTS: The corporate volunteering
program
The Liz Claiborne foundation has programs to end domestic violence, protect workers rights and implement philanthropy
Committed to sustainability
OUR NEW TARGET MARKET
The United States, especially urban
areas
Ages 22-30
Highly educated women who have
recently finished graduate school or
university
Able to afford high-end products
Important opportunity to gain brand
loyalty
DEMOGRAPHIC AND GEOGRAPHIC
SEGMENTATION
BEHAVIORAL Women searching for a lifestyle brand
Needs or wants to be fashionable every day
Trusts and prefers certain brands when shopping
PSYCHOGRAPHIC
Desire stylish, high-quality clothes,
and want to express themselves
Fashion-conscious
Professional
Social
Practical
MARKETING OBJECTIVES
Differentiated (segmented)
marketing strategy
Attract target market of female
young professionals
Play up the youthful approach to the
line
Younger design that is differentiated
from the classic line slightly
MARKETING STRATEGIES Price
affordable for the young working woman
Product Liz Claiborne fashion products
Promotion magazines, TV channels, public
transportation ads, etc Place
exclusive to JC Penney or online
CO-BRANDING SUGGESTION:EMMA WATSON FOR LIZ
CLAIBORNE
REASONS FOR SUCCESS
Creates positive media buzz and publicity
Gives a young and fresh make-over to the classic line
Emma Watson is currently a fashion icon for young women
Good public image “Love from Emma” for UK-based brand
People Tree Isaac Mizrahi for Liz Claiborne NY was
a huge success
THE PLAN Release limited edition
Emma Watson designs for Liz Claiborne
10% of proceeds will be donated to the charity Keeping America Beautiful
A charity dedicated to environmental causes
CONCLUSION Properly established in its existing
market
Needs to re-position itself in order to gainpopularity among younger women
Can be achieved through manipulation of marketing strategies and co-branding possibilities
BIBLIOGRAPYLiz Claiborne Inc. Company. 2 Nov. 2010.<http://lizclaiborneinc.com/web/guest/company>.Liz Claiborne, Inc., Hoover's Company Records. 1 November 2010. Hoover's Company Records, ProQuest. Web.Liz Claiborne, Inc. Overview, Company Profile. 6 October 2010. DATAMONITOR. Retrieved
from Marketline.