Topic

High End App Business and Marketing Plan

Instructions

Formulate a critical report to identify a gap in the market for the launch of a of new luxury fashion brand. You should research luxury fashion brands, both established and new to the market, and apply your research to demonstrate the following:

An informed and analytical debate and evaluation of the concept of luxury and the process of brand building in today’s luxury market.
An applied knowledge of proven luxury branding and marketing strategies aimed at the luxury market consumer, taking into consideration product, service and relationship opportunities.
A comprehensive understanding of the market placement, performance, marketing strategies and history of your chosen brand.
A selection of relevant visuals, which demonstrate and enhance your analysis.

Further information:

This is where you will set the scene regarding your understanding of the market you want to go into. Be Specific about your target audience. An age range or generation alone is not enough. Talk about economical influences, hobbies and lifestyle. Remember, although this is not “luxury” in the traditional sense, there still needs to be an exclusive nature to your concept and it should be high end. You should put this in your introduction section.
An applied knowledge of proven luxury branding and marketing strategies aimed at the luxury market consumer, taking into consideration product, service and relationship opportunities.
How will you promote your brand? Why are these strategies appropriate? What is it about them that will engage your consumer? Use examples from class.
A comprehensive understanding of the market placement, performance, marketing strategies and history of your chosen brand.
In this section you should include your competitor analysis to demonstrate the gap in the market for your brand. You should briefly discuss your brand story and why this is commercial for your chosen market.
A selection of relevant visuals, which demonstrate and enhance your analysis.
This will be dependent on your concept, but you could include elements such as graphs or analytical data. You could also include images of your proposed brand, pop-up concept, app layouts etc.
A focused research folder, (in digital format) including annotation, reflection and comparison of luxury branding techniques.
Here you will collate all of your background research. It should be categorised and compiled in a neat and clear way. You should provide notations and reflective annotations to show how you have used this information in your report.
For example: Trend reports, Mintel reports, journal and business articles, SWOT analysis, competitor analysis, market placement graphs, data, market segmentation information and need gap opportunities.

Answer preview

In the High End mobile app, users can browse high-quality photos, videos and multimedia content on the latest fashion trends. The user can also buy online from within the application, without having to be redirected to the website of the specific brand. The products will be updated on a timely manner to ensure the user does not miss anything. The information will be comprehensive – what is trending, how and where to purchase the product, and how to match it with other accessories. It combines all the features of the competing applications, solves their weaknesses, and offers extra features, including a second-hand trading area. The target primary target market comprises of people aged 18-34 years, who live in cities, have high disposable income, and appreciate spending on quality products, and are keen on staying updated on the current and emerging trends in the fashion domain.

Word count: 2933