A Dying Brand Assignment Answer
Our Moment: A Dying Brand
The market of celebrity men fragrance brands are declining due to the change in the preferences of the customers and the lack of innovation in the notes of the fragrance. Consumers complain that celebrity men fragrances do not have the appeal and the fragrances smell similar to each other. As stated by Faiers (2017), the fragrances are marketed by the celebrities for increasing the sales but it is not fulfilling the desires of the customers. In this report, we are going to discuss about the celebrity brand “Our Moment” which is promoted by the band One Direction. Celebrity brands such as Our Moment are usually very expensive and the regular people are unable to afford them. The markets of such celebrity perfumes are facing a tough competition from the regular brands which are easily affordable by the regular people due to the huge price difference. The different marketing and communication plan will be discussed that will help the brand gain success in the future.
The markets of celebrity perfume brand Our Moment is determined by the economic growth, the standard of living of the people, the changes in the lifestyle trends and the increases in the per capita income. As celebrity perfumes are considered as luxurious items they are usually high priced and are affordable by a selected group of the community. As stated by Hwang et al (2015), the market of celebrity perfume targets the youth of the country as they get influenced by the celebrities who are marketing the product. The majority of the community of UK have the notion that the celebrity perfumes are made only for the rich people and they are unaffordable by the regular people.
Celebrity Fragrance market of UK
(Source: Created by author)
The men’s fragrance Our Moment is promoted using different mediums such as magazines, pamphlets, television, radio and most importantly the social media which is ultimate source of advertising the product. As stated by Wah (2015), the sale of Our Moment fell by 22 % due to the change in the purchasing behaviour of the people of the United Kingdom. One of the major reasons behind the fall of the market of Our Moment perfume is the decrease in the demand which is due to the high competition from celebrity brands like White Diamonds, Re'l Fluer and Heat. The reasons for the decline in the sales of Our Moment are as follows:
- Not understanding the wants and needs of the customer- The brand was unable to gain the market due to the high price and type of notes. The customers particularly did not like the product as the fragrance is not meeting the standards they were expecting according to the high price of the product.
- The fragrance did not last long- The customers were expecting a perfume that would last for nearly 12 hours but the perfume was not lasting for 6 hours which is a major reason behind the low sale of the perfume.
- Targeting the wrong market- The brand is majorly focused on the rich population of UK whereas the majority is mainly based on mediocre people. As the price of the brand is high, regular people are unable to buy the product which is affecting the profitability of the brand. The brand should focus on launching products which are affordable by the middle class people for achieving growth in the market.
- High price- As it is considered as a celebrity perfume, the price will normally be high for the middle class people. As the middle class people are unable to buy the products the brand is facing a slow growth in the market.
- Improper marketing- The brand should be able to promote the products by conducting surveys and getting the ratings of the customers. The brand should be able to get the proper ideas about the blends and notes which are required by the customers. The brand can give free samples to their customers for improving the sales of the brand as free samples are liked by the customers.
- Limit the perfume release- The brand should limit the release of new perfumes over a year as this will create enthusiasm among the customers about the brand and they will be excited about the purchase.
SOSTAC model (Smith model)
For the development of a successful business in the long run, planning is considered as one of the important aspect for the growth of Our Moment. As stated by Cowley (2016), the planning is essential for developing the strategies and objectives of the brand. Therefore, the SOSTAC model developed by PR Smith in 1990 is used for getting the proper idea about the marketing plan of Our Moment. The elements of the marketing plan are Situation (S), Objectives (O), Strategy (S), Tactics (T), Actions (A) and Control (C).
- Situation Analysis- It is used for determining the performance of the brand. The marketing advantages of the brand will be taken into account while formulating the plan. As stated by Kilango (2015), the other factors that will used for formulating the marketing plan are proper marketing mix, the proper segmentation with the customers, the communication channel and the distribution of the fragrances, the trends and events that will impact the business, the activities of the competitors, the customers and the market. The plan will help determine the reputation of the fragrance in the market. The effects of technology on the business of the brand, the laws involved and the result of the SWOT analysis.
- Objective setting- The brand should be able to properly set the mission and objectives which are required for the smooth sales of the brand. The brand should be able to properly develop the business by communication with the customers. The key performance indicators should be recognised by the fragrance brand. The brand should plan the objectives to be long as short term goal will hinder the growth of the company in the near future. As stated by Cowley (2017), the objectives set by the company should be reasonable in nature and can be achieved. Smart communication objectives should be developed by the brand Our Moment for increasing the sales of their products as these marketing objectives are essential for the long run of the brand. SMART is applied for improving the strategies of the business and for the development of the business processes. SMART is used for giving the brand a fine and detailed objective for achieving the targets of the company and for the successful long functioning of the company. It can be used by the company for measuring the success rate of the company and for achieving the desired targets of the company. It is used for developing the business plan of the company and for setting the realistic targets of the company. The quality of measures can be tested by the use of the SMART communication objectives. The process of SMART is based upon the following objectives:
- Specific- This objective is based on the getting the problems and issues related to the brand. This objective focuses on maximizing the efficiency of the brand by planning the goals of the company. The brand Our Moment should focus on the requirements of the middle class people by lowering the prices of the products so that the regular people can afford the products which will help the company in the long run.
- Measurable- The success of a marketing plan can be measured by getting the goals and milestones of the brand. The success of the brand Our Moment can be measured by the number of fragrances sold, the total sales revenue which is generated and the total profit of the company. As stated by Sargent (2016), the brand Our Moment should try to increase the sale every year for developing a market base. The brand should formulate the proper strategies which are needed for increasing the sales as this will help in the future development of the company.
- Achievable- The growth in the business can be achieved by a proper planning. The goals which are created during the planning should be achievable. The brand should be able to penetrate the market and gain the loyalty of the customers. This can be gained by developing new scents which will attract the customers and thus will improve the sales of the company.
- Realistic- The resources should be properly planned as this will help in the improvement of the sales of the company. As stated by Dokukina (2015), the manufacturing and the distribution process of Our Moment should be properly executed for the overall development of the company. Proper strategies should be implemented for the distribution of the fragrances which will help to improve the sales of the company.
- Timed- The marketing plan of Our Moment should have a proper beginning and ending which is essential for the development of the brand. Without a proper schedule, the brand will not be able to achieve the growth in the sales of the fragrances. Therefore, timing is one of the essential factors for the growth of the brand. The progress of the brand should be regularly monitored and the plans should be adjusted accordingly.
SMART objectives of Our Moment
The brand Our Moment should apply the proper strategies for increasing the sales and should focus on the middle class people of the community. The brand should be able to measure the revenue and the total profit of the company by setting the proper goals. Proper planning is needed for the brand to achieve success in the near future. The brand should develop proper goals which can be achieved. The brand should implement the proper resources which are required for the development of the company. The timing of marketing is of utmost importance as this will help the brand to grow in the future.
- Strategic communication plan
The main priority of Our Moment for the development of the brand is penetrating the market by developing the brand and increasing the variety of scents in the market. The customers especially the youth of UK are the main customers for the brand due to the fan following created by the band One Direction. But the sale goes down because of the changes in the trend which is followed by the youth of the UK. As stated by Migliori et al (2014), the brand should concentrate first on the market of UK for the growth and development before expanding the market. The strategic communication includes the human factors such as culture, sociology, behaviour, psychology and politics. The internal factors that influence the human communication are behaviour, attitudes, values, norms, beliefs, emotions, social and cultural relations. The external factors that influence the human communication are films, posters, media, the information and communication technology and other different types of communication. The complexity factor is one of the essential factors of strategic communication as these deals with the economics, science, business management, law, human behaviour and politics. As stated by Cassidy (2016), the customers are impacted as fragrances can create feeling of memories and the brand should strive to create the type of notes that are unique and masculine in nature. The communication should be in the form of advertisements where the customers can properly get the message of the brand. The main aim of the advertisement should be to provide the customers with the message of something which is uncommon and this way the brand can improve the sales.
The brand should be able to create an image of its own in the eyes of the customers. The men should get the feeling that they can attract the opposite sex with the scent produced by the brand. The brand Our Moment is lacking the communication essential which is required for attracting the customers and for this the market of Our Moment is declining. Using popular celebrities does not always mean that the brand can gain the attention of the customers. One of the most essential aspects for attracting the customers is the medium of proper advertising which will help the brand gather target audiences.
Attracting target audience
The brand Our Moment should be able to target the customers who are going to buy their products and act according to their demands as in the fragrance industry the demand of the consumers is vital for the growth of the brand. As stated by Mills (2016), targeting only the youth will not help the brand have huge success which is the case of Our Moment. The brand should try to target the whole male economy which is essential for the future development of the brand. Identifying the target audience is essential as this can help in getting the demands of the customers and the brand can make changes according to the needs and requirements of the customers. For identifying the needs of the customers a marketing campaign is necessary which will help the brand in getting the knowledge right from the customers. The customers can be targeted using the following techniques:
- Creating a customer profile- Customer profiling is necessary in case of any fragrance marketing as this will help identify the customers of your brand. As stated by Herman (2016), the first factor is the age group of the customers to which the brand is selling the products. This is essential as customer of different age groups will relate to different notes. For example, the note which is liked by a teenager will not be liked by a middle age man as taste changes with age. Therefore, the brand should need to fulfil the desires of the different age groups of the society for increasing the sale of the fragrance. The gender should also be kept in mind while formulating the notes. As this is a men fragrance, the note should be masculine in nature because feminine note will not be encouraged by the male customers. The income level of the customers should also be kept in mind while pricing the fragrances as celebrity perfumes are costly and expensive and the middle class could afford them. The brand should concentrate on the middle class as this will improve the sales of the brand in the future.
- Conducting market research- Market research methods such as primary and secondary research methods are used for determining the customers of the brand. Survey should be conducted via email or paper for getting the ideas about the choices of the customers as this will help in the development of the brand. Interviews should be conducted for getting the ideas about the different varieties of fragrances from the customers. The customers should rate the products which will help the brand get a proper idea about the fragrances.
Positioning- Positioning is an important aspect in the marketing of the Our Moment. As stated by Ventisca et al (2015), it determines the position of the brand in the targeted market segments. It helps in proving the credibility of the brand. The positioning should be properly communicated to the customers using offline and online media.
Creative message- This is essential for the growth and sales of the brand as this helps in the introduction of the brand to the world. As stated by Elumalai et al (2015), after the introduction, the maintaining of the brand image is essential for the growth of the brand. It is with the help of advertisement that the brand is introduced to the people. The creativity of the advertisement determines the sales of the brand.
Marketing communications mix
Model of Marketing Communication Mix
From the above figure, the information gathered is that the marketing mix is dependent upon the factors such as advertising, sales promotion, events and experiences, PR and publicity, direct marketing, interactive marketing and personal selling.
- Advertising- Marketing and advertising are generally considered as the same thing because through advertisement the brand advertises the products through a medium to the target audience.
- Sales promotion- It is considered as the method which is used for pursuing the customers for buying the product. As stated by Ventisca et al (2015), it is designed foe boosting the sale of the brand. The different methods of sales promotion are money off coupons, discount vouchers, free gifts and loyalty cards.
- Events and experiences- This is used as an advertising technique for selling their products. It can be done by various medium such as sports events and community events.
- PR and publicity- It is the message communicated to the majority of the public and the medium used can be television and newspaper.
- Direct marketing- It is called direct because the brand communicates directly with the customers for getting the views of the customer. The methods used are direct mail and email.
- Interactive marketing- It is the marketing technique which changes and reacts according to the actions of the customers. This technique is generally more effective in nature.
- Personal selling- Personal marketing fall under the category of direct marketing. Sales people are used for the purpose of personal selling.
Recommendation for action plan
The brand Our Moment should focus on developing the marketing strategies of the company for the better future of the brand. The brand should be able to select the appropriate media which is required for the marketing of the brand. This includes television, radio, internet and magazines. The media schedule is the time taken by the brand advertisement in a specific channel. The costs include the advertising and marketing costs which are required for the development of the brand.
Campaigns of Our Moment
The campaigns are conducted for analysing the strengths, weaknesses, opportunities and threat of the brand. It is conducted for getting the information about the different competitors of the brand. It helps in determining the position of the fragrance in the market and is used for promotion of the brand.
Competitors of Our Moment
The brand Rise crossed $ 25 million in the first year.
The brand Gold crossed $ 14 million in sales.
The brand fantasy naughty crossed $ 50 million in its first year sale.
From the above report, it is concluded that the brand Our Moment by One Direction is losing the market of the United Kingdom. It is due to the factor that celebrity perfumes are considered as luxurious items they are usually high priced and are affordable by a selected group of the community. The market of celebrity perfume targets the youth of the country as they get influenced by the celebrities who are marketing the product. The brand is lacking the proper marketing potentials which are necessary for the growth. The SOSTAC model is used for explaining the different factors that can help the brand in the increase of the sales.
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