Intro to Marketing- Brand Profile for Bluefly
Integrated Marketing Communications
Brand Choice: Bluefly
Product Category: Retail
Brand Name: Bluefly
Brand Quality: Superior
Physical Characteristics of the brand: Their trademark colors are blue and white. The brand name is bold capitol letters in white and their symbol is a fly buzzing around the brand name.
Brand Strategy: Online retailer by trade that specializes in selling designer apparel and home accessories to men, women and teens at prices that it claims are 30%-70% cheaper then what you could find at retail outlets.
Brand Image: Designer clothing at a discounted price.
Brand Reputation: Carrying contemporary and trendy apparel for less then department store price.
Brand Price: $20-$1,500
Brand Core Value: Offering lower prices for the seasons most trendy fashions.
Brand Logo and Tag Line: “The ultimate hook up for the fashion obsesses.”
Brand Design and Packaging: This brand doesn’t have a particular design since they carry a wide range of brands. They’re packaging is standard using cardboard boxes, bubble wrap and tissue paper with their logo on a sticker inside.
Brand Customer Satisfaction and Warranties: Bluefly makes no warranties or representations about the accuracy or completeness of the web site’s content or any content accessible via the website or products purchases thereby and assume no liability or responsibility for any errors, mistakes or inaccuracies of content.
This online retail store provides satisfactory service and is proactively committed to monitoring customer satisfaction by allowing customer to provide feedback via bizrate point of sale check out survey.
Brand Equity: Customers know when shopping at Bluefly.com they are getting designer value merchandise at a significant discount. Bluefly is known for having deals and a difference in price compared to other stores selling retail merchandise.
Brands Primary Competitors: Alloy, Inc., L.L. Bean, Inc., Lands’ End, Inc., Amazon, EBay.
Consumer Buying Behavior:
Primary Target Audience:
-Consumer Demographics: According the www.quantcast.com/bluefly.com their highest demographics are women in the age range from 18-49 and are mostly Asian or African American who don’t have any kinds and making a salary of $100,000 or more.
External Factors Influencing Brand Purchase: What’s fashionable, the season, fashion week in NY and feeling like your getting a good deal from your purchase.
Customer Buying Decision:
Who Most Influences the Buying Decision: Designers, what they design control what people buy. Celebrities and media, society follows what popular people are wearing.
Who Make the Final Buying Decision: The shopper, or the person who’s paying for it.
Who Makes the Actual Product Purchase: The person who wants the product.
Who is the User of the Product: The shopper or if it is a gift the person the shopper is shopping for.
Other Factors Influencing Consumer Purchase: You have to have access to a computer because Bluefly is online only. You must have a credit or debit card to pay online and you have knowledge of fashion trends. The designers on bluefly or popular high quality and people who shop them know about them and specifically pick them.
How Does it Provide Product Protection: When they package the item they make sure it will travel safely and they allow you to return if you are not satisfied.
How Does it Persuade Consumers to Buy: They offer the lowest prices for the product you want to buy. The shopper feels like they won’t get a better deal anywhere else.
How Does it Provide Marketing Support: They don’t do any commercial advertisement. They have a blog, a facebook, a twitter and then send out emails to subscribers.
Suggested Retail Price: $50
Product Value: $75
Product components: Clothes, shoes, bags, coats, home goods.
Product Features: High quality product for a low price.
Product Benefits: You get the high quality of the product you want to purchase for the lowest price.
Pricing Set in Relationship to the Marketplace: They are set below the competition with the same product the competition is selling.
Pricing Strategy: They are market skimming because they aren’t the first ones to come up with this idea. There are online sites like Ebay and Amazon who sell things at a discounted price also. Another reason why they are skimming is because since they launched in 1998 they have yet to be profitable.
Direct or Indirect: Direct.
Primary Consumer Selling Message: That you can buy the same product on their website without spending a lot of money.
Advertising Selling Message: “The ultimate hook up for the fashion obsesses.”
Types of Media Used: Internet, Emails, Twitter, Facebook.
Sales Promotion Techniques used: They promote their website by guaranteeing lowest prices and offering discounts to frequent shoppers. They offer contests prizes and shopping sprees online if you enter and win.
Methods of Positive Publicity: The website offers giveaways, contests, jobs, classes, how-to videos.
Other Public Relations Activities: Bluefly was a sponsor of the reality designer competition TV show Project Runway.
Other Marketing Disciplines:
Sponsorship: Project Runway
Trade Shows: They introduced diamonds jewelry to their trade shows and events.
Product Placement: No fees, anyone can join.
Brand Profile Summary: A SWOT Analysis
Bluefly is a place to shop when you don’t want to spend full price for an item. They offer high end retail merchandise for a lower value. They make it easy to shop and don’t bombard the shopper with advertising or marketing. Another way they make things easier is that they are only online and for some people they don’t live near these high end retailers. Since they are online, they ship to your house. So if you don’t have a car this makes it easy for you to get the things you want.
Most of goods Bluefly sold are under the luxury brands such like Armani, Burberry, Gucci and Prada. These goods are targeting on upper middle-income consumers.
The problem is if a person who have ability to purchase luxury brands’ goods, is he/she more willing to shop luxury brands through Internet or go to the place such as authority retailer store or shopping mall where consist of a lot of choices. The answer is go to the mall. There are two reasons. First, in retail stores, customers can have physical experience before they decide to purchase, but this is not the main reason. Second, also the main reason is people always have irrational psychological satisfaction when shopping at luxury brands stores, especially with friends, hard to explain what cause this, could because vanity or self-esteem. Contrarily, some apparel with middle or low price such like as spot, travel and outdoor products consumers willing to spend time on web shopping. The webs have huge daily deals for example the stores like nike.com, adidas.com, and reebok.com.
Bluefly.com hasn’t fully taking advantages from E-commerce business, such like preorder services. The web can help customer to preorder some goods without discount, and wait until discount coming out and then inform the customers who selected this item on his/her waiting list. High technology today have made shopping on Internet more reliable and secure. But while lots of factors are effectively driving sales, investing and developing on technology and fulfillment remain limiting factors to earnings growth would be much helpful.
Bluefly.com’s biggest threat comes from its financial side. Bluefly is experiencing quarterly losses, and stock had tumbled 55%. The details will be shown on financial analysis. Investors already lose confident on company’s stock. Additionally, Bluefly.com still keep its selling concept that targets on luxury brands. Another threat comes from high discount rate, which makes Bluefly’ profit margin low as well.