With week two under our belts, Academy 6 is well and truly underway! This week we discovered just how pivotal a well thought out strategy can be to a successful marketing campaign. Without such, any campaign would be built upon shaking foundations. Two of the most important strategic lessons we learnt were; 1) you need to know your company first to build a successful brand and 2) that a thorough examination of the competition and the best practices in the market needs to be carried out.
Whilst channelling my inner Carrie Bradshaw… I couldn’t help but wonder, which brands had taken on these tactics recently to produce a successful marketing campaign? After much pondering it became apparent that there was one newly established cosmetic brand that really understood itself like no other… It was none other than Rihanna’s own; Fenty Beauty. It is apparent that the Fenty Beauty’s marketing team took it’s strategy very seriously. Fenty Beauty’s values of diversity and inclusion are embedded into it’s branding, filling an obvious gap in the market by producing forty shades of foundation, to represent women of all shades. To find such a gap, that fits in so neatly with the brand’s values, is consequential of the Fenty Beauty marketing team scrutinising the competition and the current market.
By filling this gap Fenty Beauty has taken the cosmetic world by storm, but would this have been the case without such strategic analysis? With Rihanna as the face of the company, Fenty Beauty was always bound to be a hit (much like Kylie Jenner’s Lip Kits and Kim Kardashian West’s contouring line), but I doubt it would have been the success it is today without such thorough market research. Ultimately it is apparent that exhaustive strategic analysis can make or break a brand. Whilst working on our challenge at hand, Academy 6 should follow Fenty Beauty’s example ensuring that our client’s values are at the heart of everything we do and everything that we produce on their behalf. This last week we started to ensure this by looking at our client’s stakeholders, delving into some deep secondary research – considering the market, its competitors and the best practice within it – and applying the STEP analysis – social, technological, economical and political conditions.
As we head into our third week, and our second week of strategy, it is key that we always keep the two lessons we learnt from this week at the forefront of our minds.
With special thanks to programme funders European Social Fund and Skills Funding Agency.