Min Kyung Kim
Instructor: Cynthia Jasper
Due Date: 20th November 2014
Consumer research project
Jeffrey Campbell-New product line extension
High heel shoe has become such a popular accessory and they are now every woman’s secret weapons. We have always realized that women wearing heels deal with a lot of problems; therefore we tried to find a way to help. Fashion is a fast paced industry, especially now in the Millennial generation, where fashion is changing everyday and people are tech-savvy and brand loyal exists. Therefore the only way for marketer to survive is to continuously be innovative in order to stay ahead of the game. We learned that millennial do not just buy the product, but the design and benefits. These are the main reasons contributing to the purchase.
It is important for marketer to have the right marketing material, as marketing is an important element of the product life cycle. It informs consumers on the newest market trends and develops company reputation. Therefore, we decided to choose Jeffrey Campbell for the new generation women. (Millennials) We chose them, because they are a successful brand for shoes and they have vivid designs. They are well known for their creativity (see exhibit 1).
Exhibit 1. Jeffrey Campbell limited edition collection for Hello kitty’s 40th Anniversary. Source: http://www.jeffreycampbellshoes.com/hello-kitty-jeffrey-campbell
We can make high-heeled shoes turning into flats with a push of a button or a simple switch, so that consumers do not have to keep an extra pair of flats or heels in their bag or car. The shoes have to be mechanically and ergonomically sound, and moreover: it has to have allure. The character of the shoe is in the heel shape and it has separate tips for both positions (high and low). While being used in one position, the other heel tip is kept out of sight in and opening in the sole. The shoes are being transformed with a simple and quick movement: one just pulls the heel downwards to release it, after which it can be folded in or out as preferred. The adjustment of the heel position automatically changes the curvature of the sole to fit the altered shape of the foot (see exhibit 2) 2-in-1 shoes: No need to pack an extra pair of shoes anymore.
2 heights, so you can change to a flat when you’re ready to call the day quits in heels.
No removable parts, can change to a flat in seconds.
Exhibit 2. Example how to adjust the heels for Jeffrey Campbell
The company will be targeting both new and existing customers, as women in the millennial group are very aware of their self-brand. Millennial women also care a lot about their self-image and the functionality. Therefore we must be creative and knowledgeable enough to promote the new products with the proper marketing tactics. For example; 5C’s are part of a marketing framework, which are the following:
Customer: Jeffrey Campbell is targeting their existing and new customers (millennisms), who are generally young, and people who are enthusiastic about fashion. Age range from 18-30.
Company: The strengths are having two functions in one product, able to wear as heels and flats at the same time. Weakness- it might be risky because it’s not in trend yet and no one has done it before.
Context: Add it to the new product line. We are trying to create something different and use that as an advantage to help us sell.
Collaborators: Buy Google ad and use marketing metrics such as Google analytic to track their sales activities and performance.
Competitors: Footzyfolds. Jeffrey Campbell can use this opportunity to differentiate themselves from these competitors to gain a considerable market share.
The effects of the Great Recession can be seen with millennials in the reduction of credit card debt and home and car purchases, as lenders have tightened up their requirements for loans and extensions of credit. But this