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A Marketing Plan for ST. by Olcay Gulsen in Hong Kong

A Promising Start

Rechten: Alle rechten voorbehouden

A Marketing Plan for ST. by Olcay Gulsen in Hong Kong

A Promising Start

Rechten: Alle rechten voorbehouden

Samenvatting

How can ST. by Olcay Gulsen become commercially successful in Hong Kong within two years? This question is the central research question in this final paper and reflects the ambition of ST. to become a big retail player in the fashion market of Hong Kong. ST. Studio (previously called Supertrash) is a well-­‐known Dutch fashion brand founded by Olcay Gulsen in 2004. In the market of Hong Kong ST has chosen to use the name : ST. By Olcay Gulsen, because this sounds more attractive to an international audience.
Currently, ST. has two stores in two shopping malls (Pacific Place and Festival Walk). Furthermore, ST. has the ambition to open more stores. Their first priority is the International Financial Center (IFC) and the second priority is Hysan Place. To answer the central research question a marketing plan for ST. Studio has been formulated. This plan is written for the current stores and the two future stores. The methodology applied to this research was primarily field research. In other words my knowledge is based on the opinions of experts both in the private sector and the public sector (expert method). A considerable amount of research was conducted too. An observation analysis has been added to the research to investigate what people really do inside and outside the shops. Based on interviews, research, and literature study, the plan of ST is promising and the ambition to become successful in the market of Hong Kong can be realized. This conclusion is based on the following seven arguments: cooperation with a local partner (Fairton) is useful; ST. can be seen as a desirable European brand in the Chinese market; China, especially Hong Kong, is highly developed regarding e-­‐commerce; the biggest group in society is women between 16 and 64, which means that there is a market for affordable luxury women's wear in Hong Kong; the first selling period in the two current stores shows that ST. fits the preferences of the customers in Hong Kong; the two stores are making a good impression according to the ghost shoppers who visited the stores in Festival walk and Pacific Place.
To conclude, the theoretical brand key model describes that the brand ST. has a very distinctive position and shows that people in Hong Kong are well aware of fashion and consider style important. Hong Kong is described as a place for original fashion and trendsetters. Apart from the promises, there are also serious challenges for ST. in the market in Hong Kong. Six challenges can be menDoned. The first challenge is the competitive threats. The competition is very severe. Furthermore, the rental price of retail space is extremely high. That is why many sales are needed. The other challenges are related to social and societal responsibilities, the cultural dimension, the dependence on the local partner and the absence of a website / web shop. To overcome these challenges a concrete plan of acDon is required. Thirteen recommendations are formulated. These are: write a marketing plan; determine the (financial; marketing and societal) objectives; convert objectives into (24) actions; make a list of (four) priorities; make use of (two) management reports; continue the cooperation with the local partner (Fairton); focus on social media; provide excellent customer service (with the help of the Dutch start-­‐up TryLikes); focus on the online sales; cooperate with NGOs (Ocean Recovery and Nature Conservancy); cooperate with a leading provider in the visual merchandising and brand services (Blue Mount); cooperate with market research experts (HKTDC Research); focus on Hong Kong. To conclude, share the story of fair trade and ethical clothing.
ST. has the potential to grow in the market in Hong Kong. If the recommended marketing plan is applied, ST’s plan promises to become commercially successful.

Toon meer
OrganisatieDe Haagse Hogeschool
AfdelingMO Europese Studies / European Studies
PartnersOlcay Gulsen (mode)
Jaar2016
TypeBachelor
TaalEngels

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