COMMUNICATION STRATEGY OF BANANA REPUBLIC FOR SLOAN PANTS
When we hear Banana republic the words that catch our mind are sharp cuts , elegant dressing , slim fit.
so this product sloan pants of the banana republic is providing the customers with that slim fit
Segmentation : Behavioural , Pyschological those people who are keen on having slim fit wear so they are in love with BR
Targeting : working class
Positioning: are sharp cuts , elegant dressing , slim fit.
Celebs that endorse Banana Republic
Advertising brand is currently focusing the work place goers who want to have stylish pants yet elegant and plus teen age population who would be buying various variants of sloan pants skinny fit solid with multiple color options to it . If they are able to get teen age eye balls they will have word of mouth publicity. Banana Republic should look for advertising locations in cities where most of these working women live and work. Advertising must convey to the consumer that Banana Republic clothing has the style and durability to transition between both work and social events
Outreach through social media, m-commerce, and a larger general online presence, can lead to failure without having a focused approach and continuously updating this approach.
Apps and mobile marketing have certainly become essential marketing channels which can be used by BR as well.
Publicity: Speakers at the event can endorse the BR which would catch more attention of public as it would be coming from a public figure which might culminate into increased sales revenue for the company
They are currently sending e-mail discounts to the customers for a push to increase their sales but instead they can have more personalized approach to the customer through careful segmentation of the people willing to buy their product
They can offer their loyal customers with special discounts rather giving to masses.
Festive or flash Sales that would make the product more appealable and have maximizing sales revenue in long run
The e-mail is still an incredibly powerful marketing tool for approaching the customers directly or having database ready via various CRM tools that company has and customizing the experience for each customer they are directly approaching
They might be using Push sales strategy wherein they are making the customers to buy their product through through various celebrity endorsement and discounts that they are giving.
Problems with the brand is:
1.That they have stopped their focus on their core segments that were working class and shifting on new class so they are losing on their core competency.
2. They have extreme reviews on their site one giving very excellent review while others negative one
3. Fabric issues are also commonly sighted
Solutions to the problem:
They can hire more talented class of individual by giving more pay to them which is drawback for the company and can improve on providing more personalized solutions to them.