Executive Summary
McInce Collections International is a luxury fashion brand that focuses on creating attire that is friendly to the environment. Through the implementation of a comprehensive marketing strategy that makes use of various digital communication channels, the company intends to strengthen its position in the markets of the UK and the EU. For McInce Collections International, the ideal customers are members of the millennial and Gen Z generations from all economic brackets, particularly those who emphasize fashion that is both high-quality and environmentally responsible. The company plans to market itself as an approachable environmental brand that specializes in the sale of things that are kind to the environment. McInce Collections International will leverage a variety of digital marketing platforms, including social media marketing, email marketing, and influencer marketing, to accomplish its goals and realize its potential. In addition, the company will define particular KPIs and optimize its website to increase the number of visitors and conversion rates to guarantee the success of the campaign.
Introduction
Globalisation has transformed the world into a common market allowing companies to extend their operations to new heights. this expansion is necessary since these companies have to explore unsaturated markets, diversify their risks, and extend their brand awareness, however, with this expansion comes the challenging but necessary requirement for an international marketing plan to help make this global venture successful. The purpose of this marketing plan is to provide recommendations for the launch of a marketing campaign in the UK and the EU for McInce collections.
Situation Analysis
Situation analysis is a process of gathering and evaluating information about the internal and external factors that affect an organization or a specific situation. For this marketing plan, to understand the internal and external forces impacting the firm in the global landscape, it is imperative to conduct a PESTLE analysis of the UK and the EU.
Political
Political factors that can affect the fashion industry include government policies, regulations, trade agreements, and taxes. For instance, Brexit has had a significant impact on the fashion industry in the UK, with the UK losing access to the EU single market and customs union. This has resulted in increased tariffs and trade barriers, which have made it difficult for UK-based fashion companies to do business in the EU (Brock et al., 2022). In the aftermath of Brexit, companies based in the UK that conduct trade with EU member countries experienced notable transportation setbacks and amplified operational expenses (Fusacchia et al., 2022, p. 29). As an illustration, a £500 garment purchased from a European online store might incur a customs fee of 12 per cent, or £60. Subsequently, the sum of £560 is subjected to a 20 per cent value-added tax, resulting in a VAT charge of £112. The final cost of the dress for UK customers would be £669 (BBC, 2021).
Economic
Economic factors that affect the fashion industry include economic growth, inflation, exchange rates, and consumer spending. The COVID-19 pandemic has had a significant impact on the fashion industry, with many companies experiencing a decline in sales due to reduced consumer spending. For example, Brock et al. (2022, p.9238) report that the UK reported inflation its highest inflation level at 11% in 2022, which poses a challenge for the company business due to lower consumer spending. this way, Economic uncertainty in the EU and the UK, especially in the wake of Brexit, could affect consumer spending on fashion items. This could impact the sales and growth prospects of the Mcince Collection. However, the UK economy is showing signs of stabilising since the inflation rate dropped to 10.5% in early February, and this presents an opportunity for a rejuvenated economy.
Socio-Cultural
Socio-cultural factors that affect the fashion industry include demographics, lifestyle trends, and cultural norms. For instance, sustainability has become an important issue in the fashion industry, with consumers increasingly demanding environmentally friendly and ethically produced clothing. This shift in trend presents an opportunity for the farm to develop men’s fashion that appeals to these consumers and aligns with this trend. This is also beneficial for the firm since this trend corresponds with its overall mission and vision and it is poised to have a large demand for its products. Lai et al. (2017, p,82) report that Gen Z consumers are 40% more likely to buy fashion from sustainable brands.
Technological
Technological factors that affect the fashion industry include innovation, automation, and digitalization. For instance, the use of 3D printing technology has revolutionized the way fashion products are designed and produced. Additionally, there is increased embracement of Ecommerce in the UK and the EU as shown in the figure below.
Additionally, Eurostat reports that the majority of these sales were clothes, which accounted for more than 44% of all sales. This technological adoption presents a significant opportunity for McInce as it strongly favours its business model of ordering and delivering.
Legal
Legal factors that affect the fashion industry include regulations and laws related to labour, intellectual property, and product safety. For instance, the EU has strict regulations on the use of chemicals in textiles, which can affect the production process for fashion companies (Fusacchia et al., 2022, p.28). Legal restrictions present both opportunities and challenges for the company in these global markets as it has to comply with these regulations to avoid being fined or denied lines. Though, some new regulations favour the company by allowing easier trade. For example, The Trade and Cooperation Agreement (TCA) between the EU and the UK was provisionally implemented on January 1st, 2021, and it enables duty-free and quota-free trade of EU and UK merchandise that adheres to the relevant rules of origin (House of Commons, 2022).
Environmental
Environmental factors that affect the fashion industry include climate change, waste management, and resource depletion. For instance, fast fashion has been criticized for its negative environmental impact, with many fashion companies taking steps to reduce their carbon footprint and promote sustainable practices (Brock et al., 2022). In the EU, sustainability has become an increasingly important issue in the fashion industry, with many companies adopting sustainable practices to reduce their environmental impact (Henninger et al., 2016, p. 401). This factor presents an opportunity for McInce to stay ahead of the competition by it becoming an environmentally sustainable brand since it is already aligning with these requirements in its production.
In addition, to understand the company’s internal landscape, we can consider the following SWOT table.
Task 2
Objectives
For effective global marketing, plan the firm would need to have SMART, long-term and short-term objectives for this marketing plan. The long-term and short-term marketing objectives are aligned with the mission and vision of McInce Collections, which is to promote sustainable and ethical fashion practices. The objectives are also clear, relevant, and justified as they aim to increase brand awareness and recognition, online sales, and social media following, and expand into new international markets while also offering more environmentally friendly options to customers and promoting customer loyalty. Achieving these objectives will help the company achieve its mission and vision while also driving growth and revenue.
Long-term Marketing Objectives (3 years)
- Boost brand visibility and awareness by 50% through ethical and sustainable fashion practices. The organization will be able to accomplish its goals and develop a devoted consumer base by raising brand awareness and recognition.
- Through an enhanced e-commerce platform and focused digital marketing activities, increase online sales by 100%. By enhancing the online shopping experience and conducting focused digital marketing strategies, the business may reach a larger audience and boost sales.
- Grow into two new international markets with a focus on Europe and Asia by partnering with influencers and merchants of sustainable fashion.
Short-term Marketing Objectives (1 year)
- Increase social media following by 25% through engaging content and influencer partnerships to communicate the sustainability message on social channels. By increasing its social media following, the company can reach a wider audience and promote eco-friendly product alternatives.
- Launch a new sustainable fashion line featuring recycled materials within the next 12 months. By launching a new sustainable fashion line, the company can offer more environmentally friendly options to its customers and increase brand loyalty.
- Implement a loyalty program to increase repeat purchases and customer retention by 20%. By implementing a loyalty program, the company can reward its loyal customers and increase customer retention, ultimately leading to increased sales and revenue.
International Markets
Based on the PESTLE analysis conducted earlier, it can be concluded that the European Union (EU) and the United Kingdom (UK) present potentially profitable international markets for McInce Collections. The EU and UK both have large populations with high purchasing power and a growing demand for sustainable fashion. Additionally, both regions have implemented policies to promote sustainability and reduce the environmental impact of the fashion industry. According to a report by Niinimäki (2015, p.12), the fashion industry is responsible for 10% of global carbon emissions, and consumers in the EU and UK are becoming increasingly aware of the environmental impact of their purchasing decisions. Furthermore, the fashion industry in the EU and the UK is highly competitive and fragmented, offering opportunities for McInce Collections to differentiate itself through its eco-friendly product alternatives. In terms of market size, the EU fashion market was valued at €393 billion in 2020, while the UK fashion market was valued at £55 billion in the same year (Elf et al., 2022, p. 2684).
STP analysis
For McInce Collections, the following STP approach can be taken for the UK and EU markets:
Segmentation
The target market for McInce Collections will be segmented based on demographic and psychographic characteristics. In terms of demographics, the target market will be men aged 18-40 years who are environmentally conscious and willing to pay a premium and affordable prices for sustainable fashion. Research indicates that this age group includes millennials and Generation Z fashion consumers, who have shown the highest awareness of the social and environmental impacts of businesses. Psychographic segmentation will be based on the attitudes, values, and lifestyles of consumers who prioritize sustainable living (Hur and Cassidy, 2019).
Targeting
The target market for McInce Collections will be individuals who are environmentally conscious and value sustainable living. These individuals will be targeted through social media and online platforms. The target market will be reached through Facebook, Instagram, and Twitter, which are popular social media platforms among the target demographic (Hur and Cassidy, 2019). In addition, online advertising will be used to target consumers who are searching for sustainable fashion.
Positioning
McInce Collections will position itself as a sustainable fashion brand that offers eco-friendly and affordable fashion alternatives. The brand will be positioned as a solution to the problem of fast fashion and its negative impact on the environment. The positioning strategy will be realized through the use of a mix of marketing tactics.
Step 3: Action (marketing mix and digital comms strategy)
1. Marketing Mix
According to Nguyen-Viet (2023, p. 98), the marketing mix framework is best suited to design this marketing strategy. This section outlines the marketing mix strategy for the firm in the EU and UK markets.
Product
McInce Collection offers eco-friendly men’s clothing and accessories made from sustainable materials, and the products are of high quality. To differentiate the firm’s products from its competitors, McInce Collection will offer customizable options for customers to create unique pieces that suit their style. The company will also work to continually innovate our product range to meet changing customer needs and preferences.
Pricing
The pricing strategy is to offer affordable, yet competitive prices. Thus, they will be competitive with those similar eco-friendly brands in the market. In addition, the firm will offer occasional discounts and promotions to attract more customers. The advantages of this approach are that the apparel would be affordable to the target consumers, while still high quality (Nguyen-Viet, 2023). Though, some premium higher quality apparel will also be offered to the high-end customer. This approach is appropriate as the company addresses the needs of all segments (Nguyen-Viet, 2023)
Place
McInce Collection will make its products available in physical stores and online. The firm will also collaborate with select retailers to expand its reach. The focus will be on establishing a strong online presence and leveraging social media platforms to reach a wider audience (Hur and Faragher-Siddall, 2022, p. 233). Online channels are selected since they are popular among the target customers as shown by the figure below. The firm will also partner with select brick-and-mortar retailers to expand our reach and offer customers the opportunity to touch and feel our products.
PEW Research Center (2021)
Promotion
To enhance the reputation of our brand, McInce will take part in sustainable fashion events and work with other brands who share our values. The business will also use influencer marketing and social media to reach our target demographic and generate talk about our products. The promotional plan will put a major emphasis on developing a distinctive brand identity and a base of devoted customers. To raise brand awareness and improve traffic to the physical stores and e-commerce platform, it will also make investments in targeted advertising campaigns (Poradova,2020).
People
The company’s staff will be knowledgeable about sustainable fashion and adept at providing great customer service. To guarantee that they deliver great customer service and uphold the business’s commitment to quality and sustainability, the team members will receive thorough training. The business will also try to foster a supportive workplace atmosphere that promotes employee retention, which is essential for sustaining a pleasant customer experience and forging a strong brand image (Poradova, 2020).
Process
Sustainable and moral production methods will be given priority, and the company will be open about its supplier chain. Additionally, the procedures will emphasize making sure that customers have a seamless and delightful experience, both online and in-store. This strategy will considerably raise the brand’s attractiveness, bringing in more clients. As a result, we must spend money on user-friendly e-commerce platforms and make sure that our physical locations are attractive and simple to use.
Physical evidence
McInce Collection’s physical stores and online presence will be designed to reflect the firm’s commitment to sustainability to create a unique and memorable shopping experience for customers. Similarly, the firm will ensure that our products and packaging are visually appealing and align with the brand values of sustainability and quality. This approach is recommended by Katsikeas et al. (2020, p.407) who argue that appealing packaging and attractive store layouts attempt to make customers develop an emotional connection with the brand, and this results in higher brand loyalty.
Partnerships
The firm will collaborate with influencers, sustainable fashion organizations, and other brands to expand its reach and promote sustainable fashion. McInce Collections will also collaborate with suppliers and manufacturers to ensure that our products are ethically and sustainably sourced. these partnerships will help improve brand awareness and cohesiveness of partnerships.
2. Digital Communication Strategy
To develop a successful digital communication strategy for McInce Collections, the following aspects should be considered:
Brand Identity and Key Messages
By employing a consistent tone of voice, visual branding, and key statements that highlight the brand’s objective and vision, the digital communication strategy for McInce Collections should represent the identity of the company. To do this, the voice should be sincere, approachable, and informed, exuding an air of sincerity and moral rectitude along with the brand’s emphasis on sustainability and environmental friendliness (Rosário and Raimundo, 2021, p. 5). The visual branding should be clean, and contemporary, and make use of organic materials and colours to show the brand’s commitment to environmental responsibility. McInce Collections may emphasize its distinctive attributes and contemporary style by producing interesting material and telling stories that highlight the brand’s ideals, sustainability methods, and premium quality.
Global Considerations
McInce Collections must adapt its digital communication approach to the target audience’s cultural diversity and linguistic preferences when it comes to worldwide concerns. The selection of platforms and channels should also be appropriate for the preferred digital communication platforms used by the target audience. According to the graph below (Dixon, 2023), social media platforms like Facebook and Instagram, for instance, are well-liked by users in the UK and EU. McInce Collections can use these platforms to efficiently reach its target market.
Source: (Dixon, 2023)
Content Marketing
Content marketing is an essential part of any digital communication strategy. McInce Collections can use its blog and social media channels to share useful and relevant content related to sustainable fashion and eco-friendly products. This content can help build the brand’s authority and attract potential customers who are interested in sustainable fashion (Fernandes et al., 2020, p.52).
Influencer Marketing
Influencer marketing can be an effective way for McInce Collections to reach a broader audience and build credibility. The brand can collaborate with influencers who align with its values and promote the brand’s eco-friendly products to its followers.
Email Marketing
Email marketing is an excellent way for McInce Collections to engage with its customers and build brand loyalty. The brand can use email marketing to share exclusive offers, new product releases, and other relevant information with its subscribers.
SEO
Search engine optimization (SEO) is critical for any digital communication strategy. By optimizing its website and blog content for relevant keywords, McInce Collections can improve its search engine rankings and drive organic traffic to its website.
Step 4: Results
The final step in the marketing plan is to put in place appropriate controls and measurement criteria to monitor the success of the campaign. The key to this is to identify critical success factors and set key performance indicators (KPIs) that can be measured and tracked over time.
Critical Success Factors
Critical success factors (CSFs) are crucial components that are necessary to ensure the marketing campaign’s success. In the case of McInce Collections International, these CSFs comprise the augmentation of brand recognition and sales figures. To achieve this, the company is striving to maintain uniform messaging that caters to the interests of its target audience across all communication channels. Moreover, the company must cater to the desires of its intended market and keep its products in high demand to drive up sales, which is the ultimate objective of the marketing campaign.
Key Performance Indicators (KPIs)
To measure the success of McInce Collections International’s marketing campaign, the company must establish specific key performance indicators (KPIs). The company can track website traffic and conversion rate, among other KPIs. The company can determine the effectiveness of its digital communication strategy by monitoring the number of website visitors and pages viewed. Tracking the conversion rate, which measures the percentage of website visitors who make a purchase, is also crucial to assess website design and user experience. Moreover, monitoring return on investment (ROI) is important to determine whether the marketing campaign generates a positive financial return (Kotabe and Helsen, 2022) By setting and monitoring these KPIs, McInce Collections International can evaluate the success of its marketing campaign and make informed decisions for future marketing initiatives (Kotabe, and Helsen, 2022). McInce Collections International can use Google Analytics and social media listening tools to monitor the strategy as they can provide insights into website traffic, social media engagement, and customer feedback.
Risks and Contingencies
The marketing plan for McInce Collections International is not immune to risks and contingencies. The company should be aware of these factors to make any necessary adjustments to its campaign. The primary risks and contingencies include competition response, changing consumer preferences, and possible economic downturns (Smith, 2022, p.147). Competitors may launch their marketing campaigns, requiring adjustments in McInce’s strategy. Shifting consumer preferences may necessitate changes in the company’s product offerings. Additionally, economic downturns could negatively impact sales, so the company needs a contingency plan to adjust its strategy accordingly (Smith, 2022, p.149).
Conclusion
This marketing plan was created for McInce Collections International, a luxury fashion brand specializing in eco-friendly clothing. Its goal is to increase brand awareness and sales via a digital communication strategy. The situational analysis revealed that the brand operates in a highly competitive market, targeting affluent individuals who value luxury and exclusivity. The strategy focuses on segmentation, targeting specific locations and age groups, with a unique selling proposition of sustainability and quality. To position itself in the market, the brand should offer high-quality products, target affluent customers, and provide excellent customer service. Consistency in a tone of voice and visual branding is essential to convey key messages.
References
BBC. 2021. Brexit: UK fashion industry warns it faces threat to survival. Brexit: UK fashion industry warns it faces threat to survival – BBC News
Brock, A., Kemp, S. and Williams, I.D., 2022. Personal Carbon Budgets: A Pestle Review. Sustainability, 14(15), p.9238. https://www.mdpi.com/2071-1050/14/15/9238
Dewi, F.M. and Sulivyo, L., 2022. Influence of Consumer Behavior and Marketing Mix on Product Purchasing Decisions. Aptisi Transactions on Management (ATM), 6(2), pp.151-157. https://ijc.ilearning.co/index.php/ATM/article/view/1737
Dixon, S. (2023). Leading social networks in the United Kingdom (UK) 2022, by reach. Statista. Retrieved from: https://www.statista.com/statistics/284506/united-kingdom-social-network-penetration/
Elf, P., Werner, A. and Black, S., 2022. Advancing the circular economy through dynamic capabilities and extended customer engagement: Insights from small sustainable fashion enterprises in the UK. Business Strategy and the Environment, 31(6), pp.2682-2699. https://onlinelibrary.wiley.com/doi/abs/10.1002/bse.2999
Fernandes, S., Honã, I.D. and Cruchinho, A., 2020. Fashion Revolution as Promoter Of Social Innovation And Sustainability In Fashion. Revista de Pielarie Incaltaminte, 20(1), p.51. https://revistapielarieincaltaminte.ro/revistapielarieincaltaminteresurse/en/fisiere/full/vol20-nr1/article6_vol20_issue1.pdf
Ferrell, O.C., Hartline, M. and Hochstein, B.W., 2021. Marketing strategy. Cengage Learning. https://books.google.com/books?hl=en&lr=&id=SewfEAAAQBAJ&oi=fnd&pg=PP1&dq=global++%22marketing+strategy%22&ots=PgWuyAFg27&sig=PHcqXZjWMu7MhzVjf_Jz4UU6KEA
Fusacchia, I., Salvatici, L. and Winters, L.A., 2022. The consequences of the Trade and Cooperation Agreement for the UK’s international trade. Oxford Review of Economic Policy, 38(1), pp.27-49.
Henninger, C.E., Alevizou, P.J. and Oates, C.J., 2016. What is sustainable fashion? Journal of Fashion Marketing and Management: An International Journal, 20(4), pp.400-416. https://www.emerald.com/insight/content/doi/10.1108/JFMM-07-2015-0052/full/html
House of Commons. 2022. New customs rules for trade with the EU. https://commonslibrary.parliament.uk/new-customs-rules-for-trade-with-the-eu/
Hur, E. and Cassidy, T., 2019. Perceptions and attitudes towards sustainable fashion design: challenges and opportunities for implementing sustainability in fashion. International Journal of Fashion Design, Technology and Education. https://www.tandfonline.com/doi/shareview/10.1080/17543266.2019.1572789
Hur, E. and Faragher-Siddall, E., 2022. Young consumer perspectives on government policy interventions for sustainable fashion consumption in the UK. Fashion Practice, 14(3), pp.405-427. https://www.koreascience.or.kr/article/JAKO201515338946179.pdf
Katsikeas, Constantine, Leonidas Leonidou, and Athina Zeriti. “Revisiting international marketing strategy in a digital era: Opportunities, challenges, and research directions.” International Marketing Review 37, no. 3 (2020): 405-424. https://www.emerald.com/insight/content/doi/10.1108/IMR-02-2019-0080/full/html
Kotabe, M.M. and Helsen, K., 2022. Global marketing management. John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=doCFEAAAQBAJ&oi=fnd&pg=PA19&dq=global+marketing+strategy&ots=rcNvSGXxzp&sig=rWyZr51r_nmZrncrgZVNSkvVFM0
Lai, Z., Henninger, C.E. and Alevizou, P.J., 2017. An exploration of consumers’ perceptions towards sustainable fashion–a qualitative study in the UK. Sustainability in Fashion: A Cradle to Upcycle Approach, pp.81-101. https://link.springer.com/chapter/10.1007/978-3-319-51253-2_5
Nguyen-Viet, B., 2023. The impact of green marketing mix elements on green customer-based brand equity in an emerging market. Asia-Pacific Journal of Business Administration, 15(1), pp.96-116. https://www.emerald.com/insight/content/doi/10.1108/APJBA-08-2021-0398/full/html
Niinimäki, K., 2015. Ethical foundations in a sustainable fashion. Textiles and Clothing Sustainability, 1, pp.1-11. https://link.springer.com/article/10.1186/s40689-015-0002-1
PEW Research Center (2021). Social Media Fact Sheet. Retrieved from; https://www.pewresearch.org/internet/fact-sheet/social-media/
Poradova, M., 2020. Content marketing strategy and its impact on customers under global market conditions. In SHS Web of Conferences (Vol. 74, p. 01027). EDP Sciences. https://www.shs-conferences.org/articles/shsconf/abs/2020/02/shsconf_glob2020_01027/shsconf_glob2020_01027.html
Rosário, A. and Raimundo, R., 2021. Consumer marketing strategy and E-commerce in the last decade: a literature review. Journal of Theoretical and applied electronic commerce research, 16(7), pp.3003-3024. https://www.mdpi.com/1339530
Schlegelmilch, B.B., 2022. Global marketing strategy. Springer International Publishing. https://link.springer.com/content/pdf/10.1007/978-3-030-90665-8.pdf
Smith, T.A., 2022. Marketing Effectiveness in a Successful SME: The Case of Point Global Marketing Limited. In Marketing Effectiveness and Accountability in SMEs: A Multimethodological Approach (pp. 141-166). Cham: Springer International Publishing. https://link.springer.com/chapter/10.1007/978-3-031-09861-1_6
write