StyleAsiaAn online video platform with latest updates on
Asian Pacific designer fashion.
Statement of Intent & Market ResearchName: Teo Jia EnClass: BAFMIN5B
Supervisors: Circe, Ann, Gilles
No media for Asia Pacific designer fashion
In video platform
PROBLEM
StyleAsia Teaser Promo Video
To create an Asian-Pacific online community that provides the latest Asian-Pacific
designer trends & entertainment news through videos.
Project Overall Concept
To provide fresh, exciting and entertaining videos on Fashion and Beauty in Asia Pacific.
To increase credibility and awareness of established and/or new Asia Pacific designers and artists.
A new platform for Asian designers to market their designs and reach their audience.
To further establish Singapore as a fashion capital.
StyleAsia Objectives
StyleAsia – Concept Detail
Content Stakeholders
Fashion Shows:◦ Singapore ◦ Japan◦ Korean◦ Thailand◦ Australia
Fashion Boutique Launch Celebrity Style Street Style Influencer (Selected Users)
Videos
Users / Viewers Designers Brand Owners
Product Core:
Chic, trendy, fashionable updates.
Actual:
Fashion Runways, Campaigns & Films
Styling
Designer Interviews
Influencers Uploads
Adv. Revenues
Augmented:Business
Opportunities:Designers - SalesManagers - ProfitsRetail Space OwnersCreative Owners /Content Producers
A
Core
Actual
Augmented
Most updated & comprehensive web platform for all Asian pacific designer
fashion shows, campaigns, trends, entertainment & news.
Unique Selling Point
Problem Project Concept Product Value Chart USP Content PEST Market Research and Consumer Analysis: Focus Group, Survey
Results, Interview Results Market Segmentation & Positioning Target Customers Competitors Perceptual Mapping Business Model SWOT Conclusion References
Content
Porter’s 5 Forces
Industry Rivalry
Moderate
Buyer Power(Advertisers)
High
Supplier Power(Fashion Weeks)
Low
Potential Entry /
Threat of Mobility
Moderate
Threat of Substitutes
Low
PEST
Political Association of Southeast Asian Nations (ASEAN) in 1967.Asean Free Trade Area (AFTA), 1992. (Asean.org)1. Increase ASEAN's competitive edge as a production base2. Attract more foreign direct investment to ASEAN. STYLEASIA to represent in depth ASEAN fashion & culture.Spring: Business Angel Scheme, Startup Enterprise Development Scheme (Spring.gov.sg)
Economic Stable and growing Singapore market economy at 1.5 % in 2012. (Businessweek.com) Compared to the Europe economy at -0.5% (Forextv.com)Low taxes. (Startupoverseas.co.uk)Healthy financial relations with ASEAN and global powers. (mfw.gov.sg)
Social Audi Fashion Exchange: Audi Fashion Festival, Blueprint, Star Creation. Singapore 8th Fashionable City in 2011 (Travel.cnn.com)Multicultural – A good platform for SEA market testingTop executives are getting adventurous with their attire. (thepeakmag.com) 42% of labour force working women and are well represented in many professions. (Onlinewomeninpolitics.org)
Technology
R&D Funding & Facilities (Spring.gov.sg) IntelligentNation 2015 Plan - Nationwide broadband internet access. (Ida.gov.sg)Intellectual Property Rights. (Singaporelaw.sg)
Rise of: Video Upload & Consumption (Yahoo.com) Fashion Videos & Films Video integration online Video Marketing, Promotion & Advertising
In depth Market Research - General
In depth Market Research – Focus Group
Top 3 Reasons for watching Fashion & Beauty Videos:
◦ 1. Follow Trends2. Conveniently saw the link on FB or website & Friend’s recommendation
– All said this would make them more inclined to watch.
Top 2 Video Links on:
◦ Youtube (ALL) & Facebook Link (5/7)
Top 2 Reasons why they like to watch Fashion & Beauty video:
◦ 1. Experience before the eyes 2. Visual demonstration clearer than text description.
In depth Market Research – Focus Group
Interest to watch Asian Designer Runways & Campaigns:
◦ 5/7 said Yes because they support Asian designers and feel they lack the publicity they deserve.
◦ 2/7 said No because Asian brands not as popular as Western.
Interest to watch user uploaded Asian videos:
◦ 4/7 Positive: Asia is vibrant fashion hotbed and better beauty videos by Asians for Asians.
Survey Results
~50 Answers 21-25 years – 75% Singaporeans – 94% Income/Allowance <$1000 –
81% Watches Video Infrequently -
Monthly
Survey Results – Asian Pacific Fashion Interest
Yes: 33%
Yes: 59%
No: 8%
Yes: 47%
Yes: 49%
No: 4%
Total Yes: 92%
Survey Results – Fashion Video Existing Interest
15%
15%
13%
34%34%
14%
Survey Results – User Habits
44%
26%
11%
11%8%
39%
21%
16%
Survey Results – Fashion Video Potential Interest
30%
31%
23%
16% 14%
13%
13%
Survey Results – Decision Making Process
23%
20%
14%
43%
30%
24%
Interview with Toni&Guy Marketing Manager Percentage of the
marketing budget: 5% reviewed yearly
Professional insights and advice for StyleAsia.com?
Perhaps something more interactive & involvement for both the designers and browser.
Or a direct chat between designers & their fans. Weibo has done well for that.
Competitor: FashionTV
Only 24/7 international TV network in 193 countries.
New multi-media Platform with the most comprehensive and fastest review of the global fashion.
Target Audience: Male 75% & Females 25%
Online: 25-45 years. TV: 35-64years.
12 million annual visitors on website FashionTV.com.
Covers Fashion in Asia.
www.fashiontv.com/ www.youtube.com/fashiontv
Competitor: STYLE.COM
Style.com is a fashion site covering trend reports, and extensive galleries of fashion-show photos.
Target Audience: Female 71% & Males 29% Online: 31 years. Fashion oriented target group. Media HHI: USD$77,500
2.7 Million Monthly Unique Visitors
205 Million Average Monthly Page Views
www.style.com/http://www.condenast.com/brands/style/media-kit/web
Competitor: LifestyleAsia
LifestyleAsia.com a pioneer in the online luxury lifestyle publication industry.
City-specific sites covering Bangkok, Hong Kong, Kuala Lumpur and Singapore.
Target Audience: 25- to 45-year-old affluent urban populations
358 daily, 130,670 annual pageviews on website.
36 videos, N.A. views / video. Opening Parties, Store Opening,
Socialite Parties.
www.lifestyleasia.com www.statmyweb.com/site/lifestyleasia.com
Competitor: Senatus.net
Asia's Premier Luxury and Lifestyle Magazine,
An online social network with offline/real world events.
Membership is exclusive and by invitation only.
1,048 daily, 382,520 annual pageviews on website, 250 videos.
http://senatus.net/http://www.statmyweb.com/site/senatus.net
Competitor: RazorTV, R.Age
RazorTV is novel free-access web TV service that combines the internet and TV platform, featuring video-on-demand content.
Target Audience: Local online TV audience, aged 18 – 40
167,000 monthly, 60 million annual page views on website. 900,000 unique audience.
~960 Total videos, 670 views / video.
Club/Parties Styling & Sentiments, Lifestyle Events, Modeling, Fashion/Jewel Show.
www.razor.tv/ www.sph.com.sg/pdf/Mediapedia/SPHMediapedia_OnlineDisplay_2.pdf
Competitor: Digital Fashion Week
Front Row Access, Real Time Shopping & Power to Influence. World’s first live-streaming only fashion week on Youtube.
Home-grown Singaporean designers presented along side international designers.
Additionally, viewers online can purchase the runway pieces seen in the videos on Zalora.
www.fashiontv.com/ www.youtube.com/user/digitalfashionweek
Competitor: OnStyle (Korea)
• Popular Korean Fashion Style & Lifestyle Video Platform with celebrity coverage
• Target Audience: N.A.
• 10.5Mil monthly, ~128 million annual page views on website. 65,954 visitors per day.
• Sold Out, Style Log & Get it Beauty.
http://onstyle.interest.me/http://www.statmyweb.com/site/onstyle.interest.me
Competitor: ASIA-FASHION EX (Japan)
ASIA-FASHION EX is for Asian girls who are interested in Japanese fashion. It covers music, art, cosmetic, boutique shopping and styling and popular shops by popular demand from viewers posted online.
DIO navigator will be real life perspective on youth culture with Q&A format shows from Asian countries.
Styling, Shopping, Q&A.
http://asia-fashion.tv/http://www.statmyweb.com/site/asia-fashion.tv
Competitors Cross Comparison
Brand FashionTV Style.com RazorTV OnStyle (Korea) DFW
Youtube Statistics
413, 837 Total Subscribers
53 Channels45, 585 Videos
339 million views7,400 views/video
Fashion Week, Top Models, Designers, Films, Destinations.
26,927 Subscribers
748 Videos
14.6 million views19,500 views/video
Fashion Shows, Parties, Designers,
2,237 Subscribers
346 Videos
9.2 million views26,500 views/video
Club/Parties Styling & Sentiments, Lifestyle Events, Modeling, Fashion/Jewel Show.
443Subscribers
150 Videos
729,705 views4,900 viewsVideo
Sold Out, StyleLog & Get itBeauty.
241 Subscribers
58 Videos
47,535 views820 views/video
Press conference, Runway, Backstage, Interviews, Google Hangout
Most Popular Video & View Count
Victoria's Secret Fashion Show 2012 2013
1.5 Million views
Milan Highlights: Spring 2013 Ready-to-Wear
256,000 views
The ideal bikini body (Bikini International Pt 1)
2400 Views
[Style] Get itBeauty Episode47 PartyMakeup –
51,000 Views
Backstage moments with Andrej Pejic and Sophie Summer
1,062 views
Market Positioning (Broad)
Partner Brand Price / Prestige
Low / Mass High / Glamour
Traditional Media Economy Cowboy
New Media Bargain Premium
Perceptual Mapping
RazorTV
Traditional / Professional
High End Glamour
Style.com
FashionTVLifeStyle Asia
Style Asia
OnStyle(Korea)
DFW
StyleHaul
Mass Market
New Media /Social Community
Senatus.net
AsiaFashion Ex(Japan)
Materialistic entrepreneur
New Age Family
Family-oriented traditional
The Dreamer
Entrepreneurial Strivers
The Aspirer
Modern Pragmatists
The Independent
The Dreamers
The Aspirer
Positioning statement:
To modern women and men who care about their image and keep up with trends.
To create a leading Asian-Pacific online community that provides the latest Asian-Pacific designer trends & entertainment news through videos.
Segmentation Targeting Positioning
StyleAsia
Entrepreneurial Strivers
Survey source: Trend Trackers , Published Straits Times 26/03/2009
Market Segmentation & Positioning Statement
Group Demographic factors
Psychographic factors Behavioural factors
The Dreamers
•single women•20s to mid-30s•Between $1,000 and $3,000 /month
•Dream of better status than they can afford•status-conscious
•Like to flaunt
The aspirers •men in their 20s to late 30s •professionals or run their own businesses
•Non-narcissists, they live for others rather than themselves •Health conscious•Awareness of healthy lifestyle
• Keep up with trends
Chosen Market Segments
37.8%
Family-oriented
traditional 9%
Materialistic entrepreneur
9%
The Dreamers
9.50%New Age family-
oriented 6.10%
The aspirers28.30%
Entrepreneurial strivers
9.10%
The independents
18.50%
Modern pragmatists
10.50%
The target segment is selected based on :• Size-46.9%• Growing Segment• Trendy, fashionable,
like to flaunt, status & brand conscious
Decreased compared to 2001
Increased compared to 2001
Source: ‘8 types of Singaporeans’
Evaluating Segments
Target Customers Demographics & Psychographics
Target Consumer
Primary: Trendy Working Adults
Age Mid 20s-40s
Life Cycle Dreamers & Aspirers, Entrepreneurial Strivers
Occupation
White collared, Professionals, Creatives
Lifestyle Events-Savvy, Sociable; need to be Trendy, Fashionable, Stylish & Contemporary
Economic Mid-high income, High Spending Power
Psychographic
Status & Brand conscious, Materialistic, Brands define personality. Influenced by word of mouth by peers
Behavioral
Like to flaunt Branded items.
Image: Facebook.com
Target Consumer
Secondary: Creative, Fashion-conscious Students
Age 15-Early 20s
Life Cycle Teenage phase, fashion & trend conscious, search for identity and to express it.
Occupation
Students, Undergrads, Part-timers, Fresh Graduates
Lifestyle Extroverted, Sociable, Events-Savvy, Tech-savvy.
Economic Willing to spend large % of income on fashion.
Psychographic
Image conscious. Easily influenced by word of mouth by peers; blogs, internet reviews
Behavioral
Like to flaunt the latest fashion items and trends.
Target Customers Demographics & Psychographics
Image: Facebook.com
Jo Lau 24 years old Project Manager at Mercury
M&C, Events & PR Industry Organizes Blueprint
Tradeshow Meets with designers, buyers
and creative professionals. Conducts Fashion research for
work. Shopping, Movies, Art, Design
& Photography Whimsical, quirky &
individualistic Dresses up for work & events. Trendy, Fashionable & Brand
Conscious Photo from Jo Lau.
Target Customer Profile
Business Model: Ad Revenue
Youtube Ad Revenue: $ 3/1,000 view, $3300/ 1,000,000 views
http://www.youtube.com/stylehaul
1 Clickable Banner + wallpaper banner on channel
Business Model: Channel Marketing
http://www.fashiontv.vg/presentation/media-kit-rate-card/
Video sponsorship – pre-roll slide + logo on right
Business Model: Video Sponsorship
http://www.fashiontv.vg/presentation/media-kit-rate-card/
People want to view friend’s recommendation & share
User Review & Sharing Feature
Helpful to objectives Harmful to objectives
Internal Strength: First of its kind to promote Asian talents through a consolidated video platformTap on to existing talents in ASEAN.
Weakness:New upstart, lack experience.Lack the capital to purchase the necessary HD video camera / for video production.
External Opportunity:Good structure and support for business in SingaporeGood GovernanceGlobal businesses based in Singapore for collaborationRising designers in Asia: Singapore. Thailand, Japan, Korea
Threats:Idea is easy to duplicate, in SEA.
SWOT
Proven demand & interest in platform. Combining the best features online. Preparing the technical side of the project. Moving forward: Mobile App for Fashion Videos Platform.
Conclusion
PEST http://www.euromonitor.com/singapore/country-factfile Social: Women in Singapore: http://en.wikipedia.org/wiki/Women_in_Singapore Women rights in Singapore: http://www.onlinewomeninpolitics.org/womensit/sg.pdf Men dressing up: Daring Dressers: http://www.thepeakmagazine.com/sg/brief/mar2010 Are men becoming more fashion conscious? http://www.ubscure.com/Art/149313/46/Are-Men-Becoming-More-Fashion-Conscious.html Market Segmentation: http://www.segmentationguides.com/mosaicsingapore2012/html/visualisation.htm Fashion Weeks: (http://www.seoulfashionweek.org/) http://audifashionfestival.com/about/
Star Creation: http://www.herworldplus.com/fashion/updates/fashion-updates-fashion-without-frontiers-star-creation-2012 WFW: http://www.herworldplus.com/fashion/updates/women’s-fashion-week-haute-couture-week-2012-singapore MFW: http://www.fidefashionweeks.com/mfws-about-page/
References
ASEAN History: http://www.asean.org/ http://geography.about.com/od/politicalgeography/a/asean.htm Spring: http://www.spring.gov.sg/Pages/homepage.aspx Economic Growth Forecast: http://www.businessweek.com/news/2012-08-09/singapore-economy-contracts-as-pressure-gains-for-policy-easing Eurozone Negative Growth: http://www.forextv.com/forex-news-story/ecb-q4-spf-euro-zone-2012-gdp-growth-0-5-pct-0-3-in-q3-2013-gdp-growth-0-3-
pct-0-6-in-q3 ASEAN strong ties and commemoration: http://www.channelnewsasia.com/stories/southeastasia/view/1238123/1/.html http://www.mfa.gov.sg/content/mfa/index.html http://en.wikipedia.org/wiki/Foreign_relations_of_Singapore Social: Singapore 8th most fashionable city: http://travel.cnn.com/singapore/shop/fashion-world-shocker-singapore-now-8th-most-fashionable-city-488750
Technology: R&D: http://www.spring.gov.sg/entrepreneurship/fs/fs/tecs/pages/technology-enterprise-commercialisation-scheme.aspx http://www.ida.gov.sg/insg/post/iN2015-Part-1-On-course-for-Intelligent-Nation-2015.aspx Intellectual Property Right: http://www.singaporelaw.sg/content/iplaw2.html
References
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