Irish brands Newbridge silerware
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Irish brands Newbridge silerware
- 1. Irish Brand Review: 2007 ROBERT FARRELL
- 2. CONTENTS • 1. Overview • 2. Brand/ Product Marketing Plan. • 3. Strategies/ Product Positioning Statements. • 4.Key Accomplishments. • 5. Advertising and Promotion Justification. • 6.Development Plan. • 7. Sensitivities.
- 3. 1. Overview. • Marketing Objectives • Increase awareness for all brands. • Position company in Irish Society: – Fashionable – Sophisticated – Contemporary – Modern. • Image: Premium and Quality. • Target the brands as being: – Relevant to changing tastes. – Relatable to our target market.
- 4. Marketing Objectives Continued: • Maintain Cause Related Marketing. • Increase seasonal sales. • Integrate brands across different categories.
- 5. Financial objectives: • Effective use of Budget. – Current Budget €1,680,000 – Return on investment. – Increase products sales. – Increase market share.
- 6. Key strategies & Implementation Plan: • Combination of marketing activities. – Fully integrated brand message. • Positioning as Relevant & Relatable. • Affiliations with Irish Personalities. • Increase Market Growth Rate.
- 7. Rationale for strategies: • Above the line marketing: – Examples: print and outdoor. – Recognition for the brand. – Increase awareness for the brand • Below the Line Marketing: – Position the brand. – Differentiate the brand. – Deeply in-grain in Irish society.
- 8. Key Issues: • Lifestyle patterns changing. – Traveling. – Competitors & Substitutes. – Increase immigration • Rising cost of materials. – specialization of craftsmanship. • Culture Adaptations: – Smoking Ban – Consumption – Wealth – Home ownership
- 9. More Key Issues: • Evolution of dinning. • Understand consumer tastes. • Changing demographics: – Marriages – Birth rate – Employment levels. – Education.
- 10. 2. Brand/Product Marketing Plan • There are four main product categories. – Cutlery. – Jewellery. – Giftware. – Glassware.
- 11. Cutlery: • Renew the Paul Costello Range. – Focus on new sets. – 24 piece sets. – Causal dinning. – Design an ancillary range. • Cuisine Range: – 24 piece sets. – Ancillary range- complementary pieces. • Continue previous effects with stainless steel and silver plate items.
- 12. Jewellery: • Focus on: • Silver as a fashion accessory. • Gold: premium quality, new range. • New range: – Mixture of Silver / Gold Jewellery. • Wrist Watches. – Exclusive watch range Silver/Gold Theme. • Theme for Jewellery. • Gift for any occasion.
- 13. Glass Ware: • Release an extended range. – Paul Costello range. – Pieces that complement cutlery range. • New ranges to compete with competitors. – John Rocha Range. • Glass ware into Giftware.
- 14. Giftware: • Bring in other Newbridge ranges. – Expansion of current range. – Experience-fully integrated • Build up the set over time. – Grows with the consumers needs.
- 15. 3. Strategies/ Product Positioning: • 1. Maintain premium & quality image. – Design, raw materials, price, channels, media & distributors. • 2.Position brand as a Experience: – Sponsorship, association, Paul Costello range. • 3. Position as part of changing Irish Society. – Culture, design, products, media.
- 16. Strategies/ Product Positioning continued: • 4. Differentiate the brand. – Designs, complete sets & marketing. • 5. Position Newbridge at younger market. – Pieces that grow with consumers. – Designs that are modern. – Reflected in marketing. • Integrated across products & marketing.
- 17. 4. Key Accomplishments •Sponsorship •Endorsements •Events •Paul Costello •Position brand as best gift solution •Relevant today •Value
- 18. 5. Advertisement/ Promotion Justification: • Women’s Way (65,789 Weekly) Monthly, full page colour • Image (23,234 Monthly) Monthly, 2x half page colour • House & Home (24,010 Bi-monthly) 6 issues, full page colour • Home Ideas 4U (26,650 Quarterly) 4x full page colour
- 19. • Wedding Belle (18,000 Quarterly) Half page, colour • Irish Brides Magazine (6,266 Quarterly) Half page, colour • Ireland’s Wedding Journal (11,084 Quarterly) Inside front cover, colour • Definitive guide for your perfect wedding (10,000 Annually) Full page, colour
- 20. • Sunday Independent (315,600 weekly) ABC1, 38% All adults Every 6 weeks: 8 times • Luas (80,000 daily) 5 columns, each line 2 week period, 8 times • Post card & Brochure (60,000)
- 21. • Off the Rails: Beauty and Fashion • Ideal Homes: Approx 40,000 visitors • Wedding & Honeymoon Show • Rose of Tralee • Autumn Gift Fair: Trade exhibition • Afternoon Show: – Lifestyle, showbiz news, fashion and cookery
- 22. • Pop-up display • Store fittings • Stand at 5 events • Brochures: 50,000 • National Breast Cancer Research Institute (NBCRI): – Voluntary charity in Galway. – €50,000 donation • Competition: – 250 posters & 500 flyers – 4 categories, 20 prizes
- 23. Endorsements • Laura Birmingham – Model, Ireland on Sunday, TV3 • Grainne Seoighe – RTE, Seoige & O'Shea, • Sharon Ni Bheolain – News 2, Nuacht RTE • Aoife Ni Thuairisg – Passion Fashion
- 24. Budget €1,680,000 Print -560,179.12 5 Stalls @ events -23,125 Luas -127,679.20 50,000 Brochures -4,394.50 Sponsor/Endorsement -500,000 Rose of Tralee -100,000 NBCRI -55,000 Contingency -150,000 Store fittings -130,280.94 Competition -4,856.82 Post card+Brochures -13,484.42 Surplus €11,000
- 25. Media Schedule • May: Sunday Independent, Women's Way, House&Home, Image, Definitive guide to your perfect wedding. • June: W.W, Image, Competition • July: S.I, Luas, W.W, Image, Wedding, H&H, Home Ideas 4U. • August: Rose of Tralee 17th-21st, Image, W.W Autumn Gift Fair 26th-28th.
- 26. • September: Wedding Fair 29th-30th, Autumn Gift Fair 26th-28th, H&H, S.I, W.W, Image • October: Ideal Homes 25th-29th, S.I, Luas, HI4U, W.W, Wedding Magazine, Image • November: Off the Rails 16th-18th, W.W, Image, H&H
- 27. • December: S.I, W.W, Luas, Image • January: W.W, Image, H&H, HI4U, Wedding • February: S.I, Luas, W.W, Image • March: W.W, Image, H&H, NBCRI • April: S.I, Luas, W.W, Image, Wedding HI4U
- 28. 6. Development Plan • Increase Awareness • New Product • New Materials • Cause Related Marketing • “Complete giftware solution” • Showrooms • Retailers • B2B
- 29. • Relevant to modern living: – Design – Functional – Everyday living – Price – Package – Trends – TQM – Supply chain management – Creativity
- 30. • Brand extension: – Increase Jewelry category – Seasonal products – Home ware – Casual dining – Cook ware – Entertainment – Occasions
- 31. 7. Sensitivity Analysis • Contingency fund: €150,000: – New event – R&D – Flaw in plan/assumptions – Unsuccessful launch – Surplus – Press releases – Supply chain
- 32. • Unsuccessful launch: Market research, adapt • Paul Costello: Designers, crafts, travel • Loose endorsement: Aoife Corgan, Showhouse, Desperate housewives, The restaurant • Newspapers: Tatler (22,019) Irish Independent (165,650)
- 33. SWOT • Strengths: – Reputation – Paul Costello – Manufacturing – Signature style – Brand extension • Weakness: – Cost of manufacturing – Silver
- 34. • Opportunity: – Brand extension – Giftware growth – New materials – Casual dining – SSIA • Threat: – Competitors – Substitutes – Taste – Trends
- 35. Special thanks Special thanks to my research partner Kayle Glennon ROBERT FARRELL
- 36. Irish Brand Review: 2007 ROBERT FARRELL
Hinweis der Redaktion
- Position the newbridge company in the Irish society as being a fashionable sophiscated contemporary and modern brand. This is related to the public image of newbridge’s products as being premium and quality standard. In the Irish market, we want to target a more youthful market segment. We want our marketing to reflect the brands as being relevant to changing consumer tastes, and relatable to consumer preferences. So that the products or not seen as being old fashion or dated.
- Newbridge needs to be seen as a socially responsible company that is why we will continue our work within the community, showing that newbridge is a caring stakeholder. Over the coming year we want to increase newbridges seasonal sales by increasing the marketing of products leading up to seasonal events like valentines day or Christmas. We want newbridge to be an experience, therefore we will create a fully integrated marketing campaign, that will show the target consumer how all the different products in the newbridge catolog are related. And that they consumer can build up a collection of newbridge pieces over time.
- We hope to get the most out of the budget over the coming twelve months, this will include effective use of both above an below the line marketing activities. Because we hope to spend nearly all of our budget on marketing, we hope that are marketing over the coming year will be effective enough to increase shares and our market share.
- Combination of our marketing actitives, to increase awareness of all the newbridge product ranges. We hope to create a single message for the newbridge brand, that represented in all the marketing for the company over the next year . The single message is clearly that newbridge is an experience. the positioning strategy for newbridge products is to make them relevant and relatable to a younger target audience. We hope to reposition the brand by being association with events that are popular among our target audience. We hope to build up affiliations with some popular Irish female television hostess like Aoife Ni Thuairising from TG4 . We hope that these affiliations will increase our presence on Irish television, and with create a image for the newbridge as being popular among young successful sophisticated Irish women. Increase our market share through marketing we intend to increase our share at or above the current market rate for each product category.
- We will continue to use both above and below the line marketing, we will use above the line marketing such as print and outdoor to maintain awareness and recognition for the newbridge brand. Through the use of below the line marketing actives we hope to position the brand as being of premium quality, we also want to use below the line marketing to differentiate our brand from our main competitors, and finally we want to deeply in grain the newbridge brand in the Irish society in order to create a strongly identifiable brand.
- The key issues that are affecting newbridge brand is: Irish lifestyle patterns are changing rapidly, as a society we are traveling more which means that we are exposed to different tastes, and as consumers we can bring more forgiven goods back into Ireland. As a society we are always changing with increasingly levels off immigrants from different countries, who with them would bring different consumer preferences. With the expansion of the European union more competitors are coming into the Irish market. Also there is a increase in the trend for casual dinning, with is effecting newbridge cutely sales. There is a rising cost the raw materials needed for the production of many newbridge products. There are increasing numbers of lower cost manufactures of cheaper subsuties products also , that are effecting newbridge profit margins. In recent years there has been a variety of different adaptations made to our culture. The smoking ban meant that more people were staying at home and deciding to entertain people at home rather then going to pubs. The Celtic tiger also saw the amount of disposable income increase and there was also a dramatic raise in the amount of younger people owning their own home . All these factors affect the sales of newbridge products.
- There has been an shift in consumer preferences for formal dinning sets to more informal causal dinning sets, ‘this has affected newbridges sales. Newbridge need to be able to understand changes in consumer preferences and do research into why their preferences are changing, by understanding the influencers. There are many changeling demographics in the Irish society such as marriages and divorce levels, and the aging population, all the changes are affecting newbridges sales. Newbridge need to be aware of all the key issues.
- Newbridge has great success with the designer range of cutlery range from Paul Costello. So we would like Paul Costello to commission a new of cutlery pieces, but we would like to sell these sets in 24 pieces, to cater for the consumer preferences in casual dinning. We would also like Paul Costello to commission other pieces of cutlery like steak knifes to be sold separately , but would be of the same design of the 24 set, so that the consumer can build up a set of what they need over time. We hope to follow a similar strategy with the cosine range of culture , that was popular among consumers, and it would also serve consumers who want newbridge for ever day dinning.
- For the jewellery we want to focus on marketing silver jewellery as a fashion accessory. In order to launch a more premium range of gold jewellery for newbridge, we could launch a limited edition silver jewellery that comprises gold jewellery . This range would get consumers interested in the gold design element for newbridge jewellery. But this range could aimed at consumers for a more expensive every day jewellery moving away from the fashion image of the silver jewellery. For the wrist watches would could also launch a special limited edition silver/gold watch so complement the silver/Gold jewellery. To carry on with the single message in newbridge marketing, we can try to create themes for the jewellery, that run through te pieces, so that a consumer could collect a piece for each occasion, like earrings for their birthday, a bracelet for valentines day and so forth. By running themes in the jewellery it will also allow newbridge to increase consumer awareness of buying newbridge products for gifts.
- For the glass ware, we want to extend the current product ranges to have more pieces. We would also like Paul Costello to design some pieces of glass, that would complement his designs in the cutlery ranges, we would do this so achieve the objective of establishing newbridge as an experience. We would also like to release new pieces that would directly compete with other designer pieces out there like the John Rocah range for Waterford Crystal. We would like to establish the glass ware as part of the giftware, so we would release special glasses for anniversary's or christenings or birthdays. Again running with the theme of newbridge being an experience.
- As we have highlighted before we want to make consumers think of other newbridge products as gifts. We want to expansion the current giftware range to included designer pieces from Paul Costello. This is to create a full cycle, to make consumers think of newbridge as a experience. We also want to expand the giftware product range, so that consumers can build up the sets over time, and as their needs change. Many consumers would like to have pieces that run with the same color scheme or design that they have in other areas of their home. Therefore if newbridge release a full themed range across all their product lines the consumers can build up a complete set of different products form newbridge that have the same design.
- We want maintain the premium and quality image that newbridge has established over the years, we hope to retain the image by using quality designs (Paul Costello) raw materials (crystals) price our channels of distribution and media. We want to position newbridge as an overall experience, we want to do this by the way in which sponsor certain events and being association with certain personalities. We do not want newbridge to be left being in a changing Irish society, that is why we want the products and designs to relict the culture in Ireland today.
- We want to create a clear identifiable brand image for newbridge so that it is clearly different from other competitor products on the market. We want to do this by the designs and the marketing that will create an single message that newbridge is an experience. We want newbridge to attract a new younger market segment, that is why we want to have contemporay and modern designs. We are marketing to reflect, as we want to marketing in places were we will receive attention from the younger market segment. For newbridge we want have to integrated product range that reflects the image of being of high quality with modern designs, we want newbridge to reflect the lifestyles of their consumer and to have pieces that can grow with the consumer that will not become dated over time.