Posts tagged: Retail

Are You A Design Entrepreneur?

By , September 28, 2013 8:21 am

DENYC logo

The second (annual I hope) Design Entrepreneurs NYC program came to an amazing finale Thursday evening September 26 with the announcement of two winners of cash awards of 1st place- $25,000 and 2nd place- $10,000. Becca McCharen owner of CHROMAT (chromatgarments.com) placed first in the business plan competition and Vasumathi Soundararajan (an FIT grad!) of Ken Wroy, Inc. (kenwroy.com) came in second (there were only two places). Kudos to the winners!

Design Entrepreneur Winners 2013

L to R: Dr. Joyce F. Brown, President, Fashion Institute of Technology; Vasumathi Soundararajan, Ken Wroy, Inc.; Becca McCharen, Chromat; Jeanette Nostra, President, G-III Apparel Group.

And kudos to the entire 2013 class of Design Entrepreneurs NYC! Everyone is on their way to growing their companies with freshly minted business plans in their possession.  The intensive mini-MBA program started in June with solid weekend-filled classes and then the entrepreneurs spent their summer, under the guidance of mentors,  working hard writing and refining their business plans. After submitting their business plans, the entrepreneurs waited to hear which ones were selected to present – half of the class of 35.  The presentations, in front of industry judges in four different rooms, narrowed down the field to 4 finalists who then presented in front of all the judges and the 2013 class.  Some of the Judges included: Tim Baxter (EVP & GMM, Macy’s), Morris Goldfarb (CEO, G-III Apparel), Ellen Rodriguez (President & CEO, French Connection), Jeffrey Binder (Consultant, Former Divisional Merchandise Manager, Bloomingdales), and Laurence Leeds, Jr. (Chair, Buckingham Capital).  I was privileged to be a moderator for one of the panels.

So the entrepreneurs are off now to grow their businesses and take them in new directions as a result of this experience.  As well as stay in touch with their classmates, faculty, school and judges.

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

Warby Parker talk

By , September 23, 2013 7:58 am

Warby Parker

SHOPPERSONA … CUSTOMER BEHAVIORAL CONDITIONING through DIGITAL MARKETING CONTENT

By , August 29, 2013 9:33 am

Brandpsych logo

Knowing your key customers’ lifestyles and work behaviors can help create content to align your brand shoppersona with your target customer’s shoppersona. In this digital era, to communicate real value, it is necessary to provide meaningful experiences through content that is based on your carefully researched key customer persona. With exploding competition for the customer’s time and attention, brands must become the “go to,” “top-of-mind” brand name for acquiring that special “persona” humans seek. To ring that bell, as Ivan Pavlov’s studies in behavioral conditioning explored, brands must create web content experiences based on knowledge of what will activate the customer‘s want/need to shop and buy. Brands have always sought to learn how they shop and why they buy; now they must go deeper.

Ivan Pavlov by Art Winters

Ivan Pavlov by Art Winters

So what do digital marketers need in order to create their behavioral conditioning strategies? Starting with lifestyle and life work, learning your customers’ online habits: Do they spend a lot of time online? When: While at work? Only when at home? Any time on the go? For What: Are there categories of products they are more or less likely to shop for online? Where do they get relevant brand information; which blogs do they value; how much do they rely on friends and associates for referrals; what media and devices are they using …?

To gain and keep customers, a brand must align its “positioning conditioning,” to establish why the customer should consider changing their brand preference behaviors. Again we ask: How is your brand different and better in terms of what it offers the customer in their managements of life? How do you lead the customer to your touch points and get them to engage with your brand?

If you haven’t been thinking about how digital marketing is changing the behavioral conditioning in customer behavior, it may be time to update your knowledge. Specifically why and how potential customers are now shopping and buying. These insights can be used to create content for the new Native Advertising (see our July 2013 blog) that takes a new approach to how media and brands are communicating what products and services a brand can promise and deliver. Digital marketing strategies should concentrate on interactions rather than transactions. The primary goal is to develop new ways to approach your key customers with content that contains sincere concerns for helping them and developing experiences to build a relationship that is based on knowledge of their new behavioral shoppersona.

For more on Online Shopping Habits of Technology Consumers, go to these very interesting and current survey results: http://www.logicbuy.com/features/survey-online-shopping-habits-of-technology-consumers-infographic

 

Arthur & Peggy Winters co-teach SXB 200 Brand Marketing Communications for Image & Meaning and SXR 050 Intro to Branding: The Art of Customer Bonding.

Making a Profit Online

By , August 12, 2013 3:22 pm

Art: you make it, you sell it.

It’s not a well-loved mantra in creative circles or in art school hallways, but in order to live as an artist you have to survive. At the very least, one should be able to cover expenses and yield some profit. How is this done in a competitive marketplace where gallery space is limited and visibility is key?

Increasingly, artists are using online platforms to gain visibility and even sell their work. From Etsy to Saatchi Online, these platforms offer artists a way to network, promote, sell, and gain momentum as entrepreneurs with very little overhead costs. In some cases, retailers and other interested buyers are drawn to the established package that comes from DIY online promoting: a product with a defined brand and built-in audience. If you’ve already done the work of packaging your creative product, research alternative ways to facilitate your business outside of gallery circles– it might ultimately lead you back to them.

Here is a great list of 200 places to sell your work online:

http://www.artsyshark.com/125-places-to-sell/

Visual artists should consider Saatchi Online and the unique benefits of its social media-inspired platform:

http://www.saatchionline.com/promoting

Make sure you know what you want for your company or you will lose it: “I guarantee it”

By , July 13, 2013 9:45 am

A few weeks ago Men’s Warehouse founder, George Zimmer was fired from the company he founded. It turned out he wasn’t the majority shareholder of the company.  That led to his ouster.

No matter what kind of company you found, there are a few key points to ensure this doesn’t happen to you (unless you are just in it for a quick turnaround and flip, in which case that’s your exit strategy and what you strive for).

·         When raising money, remember, the probability of having to give up more than 50% to get the money is very high.  That means you’re giving up control.  Often the founder is parachuted out with lots of cash.  But if you want to build a company and maintain control, think carefully about the sources of your money. This is what is meant by “expensive” money.

·         When taking on partners or starting out with partners, make sure there is a strong contractual agreement in place that covers who is in control of what and to what degree.  Anything can happen, and the weird stuff often does – if your partner dies or gets divorced, you may wind up with an heir who knows or cares nothing about the business.  Then your problems really begin, especially if they don’t want to be bought out (or you can’t afford to buy them out).

·         Vision  = Control  as stated very clearly in the article link below.  If you want to see your vision flourish, make sure you maintain control of your company.

http://www.linkedin.com/today/post/article/20130625210053-25745675-the-lesson-from-george-zimmer-s-firing-keep-control?ref=email

·         If your company has a Board of Directors, remember one of their main functions is to determine whether or not to fire you (and your management team).  This is what happened at Men’s Warehouse. This is also why so many large corporations have a Board of Directors that is composed of cronies.

http://www.huffingtonpost.com/2013/06/26/george-zimmer-letter_n_3505699.html

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

From MADMEN to MADMOBILE The Next Era of Advertising and Promotion

By , June 27, 2013 9:58 am

Brandpsych logo

Advertising and Promotion (AdPromo) is now developing a new I.D. for marketing communications, which we could call MADMOBILE. This is recognition of the blending of Social Media, Global Technologies, and 2-way mobile communications. Much has been discussed about what advertising and promotion will get to be. Mobile advertiser/customer engagement and exchange in social media is the big think in AdPromo’s quickly changing present and exciting future.

The thinking behind some new innovations is to provide “glocal–(Global Localities) –with—mobile” opportunities for local AdPromo. Those on the forefront for developing these new services are employing their knowledge of changes in consumer behavior, which is being caused by, and satisfied by, the ever-expanding presence of Smartphones and social media.

These give the advertiser and promoter the opportunity for the delivery of local marketing communications. In the past, and still in the present, big business with its big money has used AdPromo to knock out small business. Many small-businesses can now make the most of the opportunity to advertise and promote to specific local targets through mobile “MadPhones” with a smaller, more effective and efficient budget.

In addition, there are recent connectivity innovations that enable customers to learn of a promotion without being in or even near a store, along with advances in Near Field Communications (NFC), receiving contact when they are passing near the brick and mortar store. More and more, retailers are encouraging word-of-mouth referrals by loyal customers, which is helping to build their loyalty through interesting engagements and an active relationship.

For now, customers are able to find advertising and promotions on their phones and tablets. Most importantly, a store can launch its advertising for a promotion in a few minutes, designing the message for today’s deals and targeting a specifically valued customer. The opportunity for retailers to present promotions in real time is a salient feature of the New World of MADMOBILE.

MadMobile drawing by Art Winters

drawing by Art Winters

 

Arthur & Peggy Winters co-teach SXB 200 Brand Marketing Communications for Image & Meaning and SXR 050 Intro to Branding: The Art of Customer Bonding.

Neuro-Marketing through FMRI and NAcc

By , May 30, 2013 10:47 am

Brandpsych logo

It’s a brave new world we are seeing and must work within. As an evolving story, we have to consider how online advertising will be affecting the consumer’s brain? Neuro-marketing research is already investigating the effect online neuro-marketing will have on our brains in the current and evolving Internet/PDA world.

As we have recently discussed in a previous blog, researchers have learned that when the consumer first receives a message, it hits a section of the brain called the Nucleus Accumbens (NAcc). This is the reward/punishment, pleasure/pain “headquarters” of the brain. By evaluating the amount of activity in such demarcated brain areas, the prefrontal cortex and the insula, neuro-marketing’s use of FMRI (Functional Magnetic Resonance Imaging) is working on a process to foresee how a consumer makes shopping decisions. For example, if the NAcc indicates a positive desire response from a brand message over a more negative doubt response –“Should I be spending money?” then the pre-frontal cortex could believe that it is getting a great deal and making a wise choice (such as better prices, bonuses, and other personal satisfactions).

NeuroMarketing

Drawing by Art Winters

Neuro-marketers are seeing the possibilities of using FMRI to examine and better understand the workings of consumers’ brains.
With this new knowledge they hope to develop new ways to initiate and stimulate consumer wants and needs. Don’t forget that it has always been marketing’s purpose to stimulate the consumer’s cravings and increase AIDA: attention, interest, desire and action.

If this concept makes you feel queasy, what kind of debate might occur if companies/brands have more invasive ways to communicate to and influence consumers in how to respond to a brand’s image, its brand story, and its brand positioning for superiority???

What kind of society will develop if this becomes the normal practice rather than a seemingly science fiction prediction?

OMG – What’s Next??? We may not be LOL’ing for long…….

 

Arthur & Peggy Winters co-teach SXB 200 Brand Marketing Communications for Image & Meaning and SXR 050 Intro to Branding: The Art of Customer Bonding.

FIT’s 5th Annual Pet Fashion Show: BARK-à-Porter

By , April 25, 2013 12:20 pm
BARK 2013 logo

Showcasing past enrolled and current adult student pet product designs. See our doggie models strut the runway in true fashionista style. BARK-à-Porter is also a charitable endeavor, held in partnership with the New York City Mayor’s Alliance and Animal Care and Control of NYC. We promise an experience worthy of market week in Paris.

Get your tickets before they sell out!

Date: May 3, Friday
Time: 5:30pm-7:00pm
Location: Katie Murphy Amphitheater

Tickets: www.fitnyc.edu/BARK

Watch videos of previous shows: https://www.youtube.com/user/FITProfStudies

Follow us on Facebook: https://www.facebook.com/BARKPetFashion

Licensing Class

By , April 24, 2013 1:34 pm

Great line-up of expert speakers for my licensing class which starts tomorrow!

Licensing is a great source of primary or additional income for your product(s).  Learn the basics about how to navigate the world of licensing in four weeks!  And get the lowdown from people who live licensing!

My guest speakers this term will be:

David Kalow – An Intellectual Property attorney with fashion product experience
Arnold Burstein – A Licensing Agent who knows all the in’s and out’s of the licensing world and is the Chair of the NY Chapter of the Licensing Executives Society
Serena Godwin – Licensing Manager, Natori and (surprise guest speaker?)
Nathan Fleisig – An FIT faculty who specializes in licensing names and products
Outerstuff:  Director of Licensee Global Social Compliance, and an FIT faculty member.

It’s not too late to register!
CEO 035 (55A) Licensing
Thurs., April 25, May 2, 9, 16
6:20-9:10pm

 

Sandra Holtzman teaches CEO 035: Licensing.
She is the author of Lies Startups Tell Themselves to Avoid Marketing.

TIME TO THINK visCOMual

By , March 28, 2013 11:05 am

Brandpsych logo

Fashion advertising has always been more visual than verbal, which may play into its favor in the current, highly visCOMual marketing environment. We are seeing a trend in this mega-media environment for marketers to be involved in a heightened sense and use of visual literacy, visual thinking, visual perception and visual communications.

It has been our practice in our teaching and in our marketing and brand consulting to stimulate thinking by refashioning some of the terminology. It is our way of encouraging our own team and other participants to stop, think and apply the concept being presented through a new and different term such as visCOMual.

As in this case with visCOMual, we have noticed the need for more arresting visual communications in our digital, instant messaging world. To emphasize the importance of applying this to our clients’ branding messages, we created our own word for these innovative communications. Stop, think and recognize what is going on around you – what are you noticing about the visual communications you are encountering in your life? Even though the visualization of fashion has long left still-form, “proper” posing, as in the Levi’s ads of the 1950’s (seen here), to keep up with our own human evolution, there is certainly a need for the creation of effective matrices for this newly defined visCOMual process.

2 Levi's 1950's ads

1950’s Levi’s version of visual communications is “proper posing”

The visual literacy process can present fashion modeling with language as unique as the product design. There are advertising/brand managers and catwalk directors who are working on nonverbal languages of their own. Their intent is to grab attention with this new imaging language and visual meaning newly applied to their brands. They may now create a mind’s eye matrix for visCOMual that correlates visually with elements that are: emotional, rational, imaging, associative, symbolic and/or cultural, as in the Levi’s ad of today. The goals are to engage the customer’s seeing eye, the cultural eye that perceives the inner-mind or “my-style” eye, and/or creates a video-eye that records in the must-have, shopping mind.

2 current Levi ads

2013 Levi’s visCOMual – new-world posing and connecting with the Levi’s customer of today…

The positioning of visual communications for designers, brands and retailers is to encourage additional purposes for our ever growing and changing technologies. We are all working to create new areas of communication that can provide: product information—knowledge, self-design aspiration, increased meanings, and unique expression in our new visCOMual languages…

Think VISCOMUAL by Art Winters

Drawing by Art Winters

What strikes your mind’s eye?

 

Arthur & Peggy Winters co-teach SXB 200 Brand Marketing Communications for Image & Meaning and SXR 050 Intro to Branding: The Art of Customer Bonding.

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