Marketing Mix
Also known as the 4P's, the marketing mix works hand in hand together, meaning you can't have one of the 4P's without the other.
Product - Anything that can be offered in a market for attention, acquisition, use or as consumption that satisfies a need or want. This includes the Core, Actual and Augmented products.
Price - Finding a price strategy for the product is critical as it creates a turnover for the company. Pricing strategies include - predatory, penetration, skimming, competition, product line, bundle and psychological.
Place - Where the consumer may buy their product from. There are three distribution channels - Procedure, Channel, Customer.
Promotion - How the brand promotes their products and services. A successful product means nothing until the benefit can be communicated clearly to its audience. This can be done using the promotional mix - Advertising, public relations, sales promotions, personal selling, direct mail and e-commerce/internet.
Stella McCartney Marketing Mix -
Place
You can buy products via website as-well-as in shops and online stores such as, Harrods, Net-a-Porter, Adidas, Harvey Nichols. These websites and stores all sell other high-end brands. The brand is sold through channel stores – Department stores/suppliers.
Product
Strong unique selling point - Luxury sustainable fashion. Consumers buy from here because of the ethics. Finds alternative options to real leather or fur.
• The Core – Sustainable - consumers buy to ‘help the world’ through buying, good-quality, sustainable products. Stella X Adidas – sporty, consumers who are into sport activities and keeping fashion sustainable.
• The Actual – Her products are long-lasting and timeless.
• The Augmented – When ordering online, there is delivery to the consumers door or click and collect to store. Consumers can return within 14 days and can contact customer services through website. Consumers can pre-order new collection on the website.
Promotion
Internet/e-commerce
Social media reaches out to a range of different audiences. As most people have a smartphone, they are able to access her account to see upcoming collections. Products can be bought from official website – campaigns can be found on there with links to all social media accounts. Consumers can keep up with what’s happening.
Public relations
Stella McCartney is a sustainable brand, portraying a positive image. The designer is the daughter of Paul McCartney which means some people may believe she has easily gained success.
Direct mail
Consumers can sign up for emails through her website which means they are updated on her products, sales and campaigns etc.
Advertising
Worked with Adidas for both The London 2012 and The Rio 2016 Olympics.
Personal Selling
Assistant in flagship stores.
Price
Product line - falabella and logo bags are two popular products that have been made into different versions, eg purses or change in colour. Consumers who have bought these before may want the newest version to stay on trend.
Competition - Similar prices to competitors so consumers will pick this brand over another.
