Marketing Plan in BOUTIQUE

BLACK BOOK

Table of Contents

1.) Product Description ... 4 2.) Market Analysis .. .5 a.) Market Segmentation ... 5 b.) Target Market .. 7 q Demographics .... .8 q Psychographics ... 9 Survey . ...11 Table Results . 13 3.) Competitive Analysis .... .14 4.) Marketing Objectives ......... 16 5.) Marketing Strategies .. 17 a.) Positioning 6.) Marketing Mix .. .18 a.) Product b.) Price c.) Place d.) Promotion 7.) Works Cited .. 20

Mission Statement Our motivation is to connect lifestyles from the streets to innovative fashionistas.

1.) Product Description

Consumers would explore their shopping options more if they had the resources. With a subscription to NYLON magazine, customers will receive the Boutique Black Book. The Boutique Black Book is a guide to boutiques within the greater Los Angeles Area. Including a how to use system that will inform the user of individual boutique pricing to indicate whether or not its within the customers budget. A list of designers carried within the boutique will be available under each listing. With this guide, the customer will also get up-to-date information on sales, new products, new designers and Boutique Black Book user fashion tips. People who utilize this guide can write to us with whatever they feel necessary and it will be included in the next issue under from the streets. The guide will also include special events such as fashion shows and trunk shows that are taking place within Los Angeles. Personal designer web pages will be listed as well. The Boutique Black Book is the ultimate guide to tailored shopping. The Boutique Black Book will be updated daily and published monthly to ensure a new experience each time. It will be sold to major fashion magazine NYLON, for exposure, and it will benefit their relationship with their customers. This is another way to reach out and talk to customers, the Boutique Black Book is an extra service. It will also attract new customers that wouldnt normally purchase the magazine.

2.) Market Analysis A. Market Segmentation

Fashion Industry Stylists Photographers Designers Trend Forecasters

Entertainment Film Music Theatre

Beauty Industry Salons Spas

Fashion Innovators Seek new trends

I. Fashion Industry Stylists seeking new innovating clothing and accessories for individuals or companies would use this guide to locate certain boutiques. Photographers need a quick guide to boutiques for certain lifestyle trends they might portray through advertising. Active designers in the business would use this as a guide to locate competitors and inspiration. Trend Forecasters can locate what a certain demographic is buying for each season. The Boutique Black Book is an essential to the fashion industry weather it be used as an active guide, or reference guide. This segment includes persons currently interning or assisting within the industry.

II. Entertainment Industry Production Designers, Wardrobe Designers, and Costume Designers would benefit from the Boutique Black Book for a quick locater for clothing and accessories needed on set or stage.

III. Beauty Industry

If the Boutique Black Book were to be sold individually, Salons and Spas would be a great place to position our product. Our target market indulges in some of the finest salons and spas from time to time. Purchasing the Boutique Black Book would be a must before leaving the spa.

IV. Fashion Innovators These women are slightly younger than the age demographic of Boutique Black Book and have a lower yearly income. These women consistently seek out the newest, most unique of lifestyle trends in underground fashion. They purchase NYLON magazine as their only guide and reference to the fashion industry. These woman are the future of are target market. If they are no already studying for a career in the fashion industry, they are currently seeking one. This segment does not include persons currently interning or assisting within the industry.

b.) Target Market

The Boutique Black Book or one of our three competitors will be chosen by the next customer seeking a guide to high-underground fashion. Our research indicates fifty percent of new customers dont know the difference among the services they choose from. Most new customers dont want to waste their time on learning your core strengths to make a weighted decision. Therefore, we will make the customer choose the Boutique Black Book.

Several interviews conducted by the Boutique Black Book team indicate that most customers make their choice just because your logo and company name in the advertisement seem to be more legit and trustworthy. Our logo, created by a small piece of graphics can half or doubles the number of new customers.

I. Fashion Industry Our potential market makes up five percent (5%) of the twenty to thirty-four (20-34) ages demographic in Los Angeles. Females within this demographic are among the hundreds that flock to Los Angeles yearly, and because of this constant growth in population, our future market will continue to grow.

People constantly seek individual identities. The need to be unique and feel like your own person, is in demand with todays society. You will find this more in Los Angeles than anywhere else. A career in the fashion industry drives people to stand out and encourages the idea of getting noticed with a separate identity. Our market is segmented by quality and age. Females twenty-one to thirty-five are the whole of our targeted market.

All major fashion magazines are competitors. People use magazines with a plethora of advertisements as personal shopping guides however; these magazines do not deliver the essentials to being a guide. The women we are targeting are multi-cultural, single, and make forty-thousand dollars a year ($40,000.00/yr.) They live in Los Angeles, and have careers within the fashion industry. They are workaholics who love what they do, and frequently buy many different magazines, NYLON being one of them. They are constantly on the go. Their most basic wants are to be unique and create their own lifestyle surrounding personal interests.

A basic need for these women is fashion; its their careers and what they have based their lifestyle on. They live in single households, meaning they do not have any children or spouse to provide for, therefore; they live off a disposable income accessibly spent on

clothing and accessories. They shop three to four times a week and spend three to five hundred dollars each week.

Demographics Los Angeles County Total Population: 9,871,506

60 Male 50 40 Age 30 20 10 0 Single Female Beverly Hills Hollywood Los Feliz Silverlake Pasadena

Age Range 20 34 yrs. Percent Male Percent Female Percent

Beverly Hills 2,434 21.4% 5,028 44.3% 6,319 55.7%

Hollywood 11,466 37.5% 16,827 55.1% 13,735 44.9%

Los Feliz 13,821 28.3% 24,364 50% 24,351 50%

Silverlake 20,485 27.8% 37,618 51.1% 36,053 48.9%

Pasadena 5,996 21.5% 13,657 49% 14,230 51%

Single Percent Income

2,607 45.7% $50,000

7,632 51.5% $40,000

9,534 43% $40,000

6,775 21.6% $40,000

1,712 21.4% $40,000

Psychographics

People within the industry could use it as a reference for up to date information and a guide to forecasting trends. The Boutique Black Book provides you with location and other contact information to the newest of Underground fashion boutiques in Los Angeles. Our fashion forward customers will benefit from its compact size, and current information.

Customers of the Boutique Black Book will have attended our sponsored events, and are more than familiar with NYLON magazine and the unique acquired style it advertises. In generating a word of mouth advertising approach the Boutique Black Book will develop a technique that will appeal to the underground fashion scene.

The Boutique Black Book is a product of NYLON magazine, therefore the discretionary income of our customers varies. Each customer makes purchasing decisions based on their political, environmental, economical, standard of living. Boutique Black Book customers look to small boutiques that sell independent designer clothing and accessories with the same values.

Customer Survey

What is your age? 16 or under

17-20 21-24 25-34 35-44 45-54 55-64 65 and up

What is your gender? Male Female What is your Martial Status? Single Married Divorced

Where do you live? Suburb

Downtown

What is your household income? Less than $20,000

$20,000 - $29,999 $30,000 - $49,999

$50,000 - $74,999 $75,000 - $99,999 $100,00 or more

Do you buy name brand clothing? Yes

No

Do you shop at boutiques? Yes

No

Do you shop at the mall? Yes

No

Do you shop at theft stores? Yes No If you had a guide to independent designers clothing would you utilize it? Yes No If yes, how much would you pay for it? $1.99 to $3.99 $ 4.00 to $6.99 $7.00 to $8.99 $9.00 to $10.99 $11.00 to $12.99 Would Never Buy It!

Do you prefer this product to be a service included in a magazine? Yes No Do you prefer this product to be a service included purchased individually?

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Yes No

Table Results

Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 19 21 20 20 36 32 46 56 19 19 21 25 22 47 48 25 32 34 22 24 19 18 27

M/F Marital Location Income Buy Shop Use Status Brand Boutiques B.B.B F S S 20,000 Yes Yes Yes F S S 30,000 Yes No Yes F S S 15,000 Yes No No F S D 20,000 Yes No Yes F M S 55,000 Yes No Yes F M D 70,000 No Yes Yes F S D 48,000 No Yes Yes M M S 50,000 No No No F S D 22,000 Yes Yes Yes M S S 0 No No Yes M S S 25,000 Yes Yes No F M D 56,000 Yes Yes No F S S 25,000 Yes No Yes F M D 100 + Yes Yes No F M S 100 + No Yes No F S D 50,000 No Yes Yes F S S 42,000 Yes Yes Yes M M D 45,000 Yes No No M S D 0 Yes No Yes M S D 35,000 Yes No Yes F S S 0 Yes Yes Yes F S D 0 Yes Yes Yes M S S 30,000 No Yes Yes

Mag. Indi. Yes Yes Yes No No No Yes No Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes No Yes Yes Yes No Yes No Yes Yes Yes No No Yes No Yes Yes Yes No No Yes Yes Yes No Yes Yes No Yes

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24 25

20 20

F F

S S

D S

22,000 15,000

No No

Yes Yes

Yes Yes

Yes Yes

Yes Yes

3.) Competitive Analysis

q q q

Black Book List Lucky Shopping Manual Cond Nast Publications

Black Book Magazine Little Black Book List 116 Prince Street Bunker 2 New York, NY 10012 Fax: (212) 334-3364 Email: lbb@blackbookmag.com

The Black Book List is a guide to funky, classic, electric, popular, cool, and esoteric restaurants, bars, hotels, and clubs throughout all major cities. Amsterdam, Chicago, Las Vegas, London, Los Angeles, Miami, Milan, New York, Paris and San Francisco, are among these major cities.

This guide is a black and white, paper back, staple bound, pocket size, book, with no frills. Black Book Magazine advertises this publication through their web site, www.blackbookmag.com, but there is no single advertising for this guide alone. Inside the guide is advertising opportunities for other companies. This guide is a product of Black Book Magazine and therefore; it is put together by the Black Book Magazine staff, and advertised by the Black Book staff. It is sold individually through

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the Black Book Magazine website.

One of the main strengths of this product is its main weakness. Its a product of Black Book magazine, and not sold individually. Other strengths are the advertising opportunities within the Black Book List, the website www.littleblackbooklist.com, and offering multi-channel services.

Lucky Magazine www.luckymag.com Lucky Shopping Manual The Lucky Shopping Manual is packed with over one-thousand full-color photos and illustrations, appealing to everyone from the shopaholic to the disciplined bargain hunters. They offer tips on building your wardrobe, cheap flea markets, and boutiques. They also provide information on new stores from coast-to-coast, plus care and maintenance tips for your clothing.

Strengths of the Lucky Shopping Manual is its mass appeal. Theyre market is anyone and everyone that loves to shop. They are a product of Lucky Magazine, and can be sold individually. Weaknesses of this product would be its size. Its too large to be a guide that you can take with you and shop, and its published yearly. Information may become outdated by the time it reached the consumer.

Cond Nast Publications www.condenast.com

Cond Nast Publications is home to the worlds most popular magazines. Allure, Glamour, GQ, Lucky, Vogue, teen Vogue, the New Yorker, Vanity Fair, and In Style magazine.

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People use these publications with all their advertisements as guides to everyday life, including fashion. This is their strength in the market, that they are already established publications familiar to the masses. A weakness is the lack of information these magazines provide when it comes to delivering what they advertise.

4.) Marketing Objectives

By promoting Boutique Black Book through web pop-ups, the NYLON magazine website, and sponsored events such as independent designer trunk shows, and independent warehouse shows, we will increase sales from September 2004 to September 2005 by twenty percent (20%). The thirty-five hundred (3,500) current readers of NYLON magazine in Los Angeles County will increase by an estimated seven hundred (700) people. All readers of NYLON magazine will receive the Boutique Black Book and therefore we will receive a twenty percent (20%) increase in readers.

5.) Marketing Strategy A. Positioning

Boutiques Black Books broad positioning is placed in a niche category. Our specific positioning is what appeals us to the masses that make up the underground fashion scene. Currently there is a lack of reference guides and websites that provide a similar service to a niche category within the fashion industry.

The greatest benefit of this product is its dedication to maintaining a one-of-a-kind service, thats convenient to use. The Boutique Black Book is specifically positioned

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to target an audience that cares about independent designers and unique fashions with an acquired taste.

6.) Marketing Mix A. Product Strategy Boutique Black Book is conveniently designed to fit in customers pocket/purse. It goes everywhere they go, unlike competitors. The Lucky Shopping Manual is overwhelming with information and too large to motivate customers. Magazines under Cond Nast Publications do not provide enough information and rarely feature small boutiques. The Little Black Book List is offered through Black Book Magazine, but does not specialize in boutiques, and the Black Book Magazine does not market itself to fashion.

Boutique Black Book has one specific signature packaging. Its located within NYLON Magazine. It is not sold individually and can only be presented upon purchase/subscription of NYLON Magazine. B. Price Strategy Boutique Black Book is not sold individually. The price of a NYLON Magazine is $3.50. C. Place Strategy Boutique Black Book comes with purchase/subscription of NYLON Magazine. We have placed our product in this specific publication due to the target market of NYLON Magazine. A NYLON reader is the ideal candidate for Boutique Black Book. D. Promotion Strategy

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Advertising (three sample ads)

Public Relations and Publicity Although the Boutique Black Book only guides customers to boutiques within Los Angeles County, Boutique Black Book interacts with the underground fashion scene from the east coast as well to keep our readers/users well informed. Direct Marketing Boutique Black Book staff will attend all sponsored events and fashion shows for interaction within our market. This will personalize consumers with our product and show our proactive strategy in providing the most up-to-date information on where to find fashion. Promotions and Events Boutique Black Book will sponsor events such as fashion shows and feature independent designers whose products can be found in the boutiques listed in Boutique Black Book. Product/Company Marketing Materials Our product has a website, and has a featured link on the NYLON website, as well. There are links to the Boutique Black Book on other fashion web pages. Newsletters will be distributed via email to those that sign up for the from the streets newsletter through the Boutique Black Book webpage. Sales Force The Boutique Black Book Sales Force incorporates its mission statement in everything they do. They are dedicated to their position in providing the most up to date information in underground fashion. Boutique Black Book staff attends all promotions and events around the country to seek out and deliver from the streets. The Boutique Black Book Sales Force provides the demand for products at boutiques in Los Angeles.

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Works Cited Armstrong, Gary and Kotler, Philip. Marketing An Introduction. New Jersey: Prentice Hall, 2003. Conde Nast Publication. Website. www.condenast.com 24 Aug 2004. Johnson, Maurice J. and Moore, Evelyn C. Apparel Product Development. 2003. Little Black Book. Website. www.littleblackbook.com. 25 Aug 2004. Lucky Magazine. Website. www.luckymag.com. 25 Aug 2004. New Sun Graphics. www.newsungraphics.com. 1 Sept. 2004. NYLON Magazine. www.nylonmagazine.com 25 Aug 2004. Weitz, Levy. Retailing Management. Boston: McGraw, 2004.

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