ALEXANDER WANG BAR Victoria Koydl
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ALEXANDER WANG
BAR
Victoria Koydl
TABLE OF CONTENTS Introduction 1.1 Business Model - Page 2 1.2 Sector Overview - Page 3 Market Segment 2.1 Customer Profile - Pages 4-7 2.2 Competitive Market Overview - Pages 8-9 Marketing Strategy 2.1 Product/Service - Pages 10-11 2.2 Pricing Strategy - Page 12 2.3 Distribution - Page 13 2.4 Promotion - Pages 14-15
1
INTRODUCTION
1.1 Business Model
My business is based around an Alexander Wang bar. There will be exclusive designs by Al-
exander Wang, accessories such as bags and shoes that can only be bought at this particular
bar which would bring in a lot of customers. The products that will be served are standard liq-
uors, beers and spirits as well as special Taiwanese alcoholic beverages seeing as Alexan-
der Wang was born into an American-Taiwanese family.. This beer has won many internation-
al competitions. My USP will be the exclusive accessories and drinks; this will differentiate the
bar from other top New York bars in Upper Manhattan. Upper Manhattan is home to some of
New York’s richest inhabitants. As well as this there is a view of the New York skyline over cen-
tral park, which will also be an advantage in comparison to other New York bars. Having ex-
clusive products only on sale in this bar will bring people from all across the globe to this lo-
cation to get their hands on these products. Another USP will be some special performances
from Wang’s favourite artists, for example; Diplo, ASAP Rocky, Azealia Banks and Die Antwoord.
2
INTRODUCTION
1.2 Sector Over view
I am entering in the hospitality sub-sector of the fashion industry. One of the key aspects of the hos-
pitality sub-sector is that it is aimed at people with free time and spare money. Hospitality strives
for guest satisfaction and usually involves intensive labour and long and late working hours. Many of
the jobs available in the hospitality sub-sector of the fashion industry require low levels of education
and skill. Seeing as this industry is focused on travellers and those with spare time, work hours can
be long and strenuous, and employees must be available at any time and must make work their
priority. Good service is what a customer would expect when at any bar, restaurant or hotel etc. Train-
ing is crucial to improve service delivery. Technology plays a big part on guest service. Government
regulations must be taken care of seeing as guests are aware of their rights and can take quick
actions. Sanitation is key when it comes to the hospitality industry, guests expect a spotless envi-
ronment, and they want to make sure that everything has been prepared in a sanitary environment.
The hospitality industry has had its ups and downs but for the time being it is growing more than
ever as it provides many jobs and attracts many tourists, travellers and natives. Even though the
economy is doing poorly, our target customers are wealthy and young. The economic down-
town will make it easier to recruit staff seeing as more and more people will be looking for jobs.
3
MARKET SEGMENT This demographic chart shows the alcohol intake in Amer-
2.1 Customer Profile icans in regards to age, religion, income and education. The
My core target customers are young adults and celebrities. The ages I customers I am targeting are between the age’s of18-34,
am targeting are from ages 21-34, and as seen on this graph it shows ideally postgraduates or college graduates, those who earn
that the ages that I am targeting are more stressed in comparison to more than $75,000 and are of any religion. By looking at
other age groups. This means that young adults are more likely to drink the following graph it shows that those aged between 18-
alcohol and attend bars of nightclubs, for “stress relief” as per say. 34 have a higher alcohol intake than other age groups; the
same goes for college graduates and postgraduate adults.
Those who earn more than $75,000 are also shown to drink
4
Fig 2
Fig 1
Natalie Porter is the chief editor of Dazed and Confused Magazine. Her fa- Tomoka Ainura is a Japanese fashion design student at Parsons in New
vourite brands are COS, Sandro, Maison Martin Margiela, Jil Sander and York. Although she enjoys a life without partying she does enjoy the occa-
Carven. She’s hardworking and barely finds any time to go out. She at- sional bar hopping on a Friday evening with her classmates. Her favour-
tends a lot of fashion shows and a lot of events such as store launches etc, ite brands are; The Kooples, Alexander Wang, Uniqlo, Sandro and Acne.
therefore she is the kind of person that would occasionally attend the bar.
5
MARKET SEGMENT
2.1 Customer Profile Fig 3
Emilia Bjerke is a 21-year-old fashion blogger from Sweden. She loves minimalist clothes and enjoys
a night out with her boyfriend every now and then. Her life revolves around fashion and making sure
that she looks good. Her favourite stores are; Acne, Asos, Weekday and Sandro. She fits the ideal cus-
tomer perfectly seeing as she leans towards a more minimal approach to fashion like Alexander Wang.
6
Fig 4 Fig 5
Alexander Dwares is a 22 year old music producer and DJ based in
Kate Mayorova is a 23-year-old Model from Russia currently living in
New York. He produces mainly electronic and garage music. As well
Milan but travels all across the globe because of her modelling career.
as performing at venues, he also enjoys taking a break from his
She loves going to bars in big cities with her closest friends. Her fa-
work to enjoy a night out watching and dancing to other DJ’s. His fa-
vourite brands are; Cheap Monday, Zara, Helmut Lang and Alexander
vourite brands are; H&M, Zara, Muji, Doc Martens and Rick Owens
Wang. She is a is a fan of both high street and high fashion brands.
7
MARKET SEGMENT Fig 6
2.2 Competitive Market Over view
Roberto Cavalli club
The Cavalli Club has many events on offer. I see this as one of
the main competitors because this is also a designer brand ser-
vice. The Cavalli club has events on every now and then such as;
a great Gatsby themed night, and some special performances.
This diversifies the club and brings in a number of different cus-
tomers. During the day it is a restaurant which will be a large
competitor for the Alexander Wang bar as we are only providing
Fig 7
a bar service. As well as a restaurant, there is also a cigar lounge,
boutique, Sushi bar and Wine and Champagne bar. On their web-
site they have a section with pictures of celebrities that have at-
tended the club, people such as; Estelle, Steven Tyler and James
Blunt. High spend is a regular occurrence at the club, an aver-
age of $54,000 to $136,000 is spent per night. The boutique in
the club also offers products that are exclusive only to the club.
8Fig 9
Armani Hotel/Lounge in Milan
This hotel is a main competitor because it is also run and designed
by a designer, Emporio Armani. It is in the same sub sector as the
Cavalli Club and the Alexander Wang bar; hospitality. Although there
is no bar or club within the hotel, there is an Armani Lounge which
overlooks a magnificent skyline of the city. It has a very elegant
and classy ambience. This lounge is ideal for business meetings, a
place to meet with friends. The lounge provides cocktails and oth-
er alcoholic beverages with good music. In the hotel there is also
a restaurant, the main servings are traditional Italian cuisines.
The Boom Boom Room
Fig 8
The Boom Boom Room is the main competitor in the city seeing as
this bar has one of the best views of the New York Skyline. It has
been called; “The most opulent nightlife establishment presently
operating in NYC” There is a strict door policy and attracts some of
the biggest names in the film and music industry such as Madon-
na, Lindsay Lohan, Amber Heard and Bon Jovi.
9MARKETING STRATEGY
2.1 Product/Ser vice
The core products that will be provided is ideal for the exclusive products that will
at the Alexander Wang are exclusive ac- be on sale. Seeing as the market goods
cessories that are only available at this are made entirely in Los Angeles the ship-
venue. I will not be selling any clothes be- ping fees to New York will be a lot cheaper
cause trying on clothes for size would be than it would be from Italy for example.
inconvenient. When people are drunk and
surrounded by other wealthy people the
chances of purchases are very high. Peo- Fig 10
ple become more generous when drunk.
The products that are going to be on sale
will mainly be leather goods, therefore a
leather manufacturer in America is key. All
the exclusive leather goods will be made
by ‘leather creation’ . They specialise in
exotic leathers such as, stingray, lizards,
ostrich, python and crocodile. They work
with new technology like laser cutting and
3D printing for the best results. They like
to blend product and art together which
10Fig 11 11
MARKETING STRATEGY
2.2 Pricing strategy
When it comes to pricing the alcohol is occasional artist performances, service,
going to be at an 18 percent cost and ambiance, a prime location and quality.
mixers such as sodas and juices are Prices of drinks will also be based on the
not going to be included in drinks costs cost of each individual ingredient. For
but rather as bar supplies. I am going example a Strawberry Daiquiri will be
to make sure that there is enough in- priced based on the cost of the coconut
come to pay for lease, labour, equip- rum, the amount of strawberries, banana
ment and other parts of the business and the amount of Bacardi mix. However
while still making a profit. There will to make a profit from this pricing strate-
be a 10% service charge with every gy a mark-up is required. All of the ingre-
beverage and also a 10% municipali- dients added together and multiplied by
ty fee that will be shown on every bill. 3 in order for a suitable profit for the bar.
I want this to be focused on providing
higher quality products and service
rather than undercut the competitors.
The beverages will be priced a lot higher
than you would originally buy them for
at a liquor store; this is because the pric-
es will also cover entertainment for the
12MARKETING STRATEGY
2.3 Distribution
The product will be accessible via the Alexander Wang bar based in
New York. There will be a boutique in the bar with the one of a kind
accessories. It will be a business to consumer sale only, we don’t want
to start seeing the exclusive designs being sold by other businesses
in other shops/parts of the world, we want to maintain the exclusivity
of the bar and products by only selling them in New York. This bar will
be the only location, but if with time, the bar begins to grow we may
think about expanding the bar to other fashion capitals in the world.
13MARKETING STRATEGY 2.4 Promotion I plan on advertising majority of my business online, there will be a lot of me- dia advertising; promotional videos and a lot of celebrity endorsement with Al- exander Wangs favourite celebrities, for example; Diplo, A$AP Rocky, Azealia Banks and Die Antwoord. To create awareness of the business I will launch a website especially for the bar containing photos of the interior of the bar, videos of Alexander Wang’s vision and aim of the bar, a page with a few of the exclu- sive products on sale. Because the target customers are between the ages of 18-34 the internet plays a big part on making this bar stand out. I plan on using mainly the internet to reach out to potential customers as well as articles and in edgy fashion magazines all over the globe such as Dazed and Confused, i-D magazine, Dossier, I like my style and more. Along with the website and pro- motional videos there will be an official Alexander Wang bar twitter account, youtube channel, tumblr and pinterest so that it is simple to keep up to date with the process of the bar. Social Media will play a big part for the business. 14
Fig 13
Fig 12
15INTERIOR Bar 16
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BIBLIOGRAPHY 1 - “HOSPITALITY.” : CHARACTERISTICS OF INDUSTRY. N.p., n.d. Web. 01 Jan. 2014. . 2 -”Hospitality and Tourism - UK’s Fastest Growing Job Creators.” Home. N.p., n.d. Web. 31 Dec. 2013. . 3 - “If It’s Hip, It’s Here: Big Spenders Drop $105,629 on a Bar Tab in One Night at The Cavalli Club, Dubai.” If It’s Hip, It’s Here: Big Spenders Drop $105,629 on a Bar Tab in One Night at The Cavalli Club, Dubai. N.p., n.d. Web. 02 Jan. 2014. . 4 - “Master the Art of Saving.” Master the Art of Saving. N.p., n.d. Web. 02 Jan. 2014. . 5 - “What We Do.” Leather Creation Handbag, Luggage, Belt, Briefcase and Leather Goods Manu- facturer Based in Los Angeles. N.p., n.d. Web. 01 Jan. 2014. .
IMAGE REFERENCES Customer Profile: Stress Level Demographic: “Marketing Research Shows Younger Adults Have Most Stress.” Marketing Research Shows Younger Adults Have Most Stress. N.p., n.d. Web. 28 Dec. 2013. . Age Demographic: “U.S. Drinking Rate Edges Up Slightly to 25-Year High.” U.S. Drinking Rate Edges Up Slightly to 25- Year High. N.p., n.d. Web. 30 Dec. 2013. . Fig 1 - http://www.fashion-with-style.com/2013/09/street-style-milan-fashion-week-day-one.html Fig 2 - http://i-d.vice.com/en_gb/look/straight-ups/851/ikumi-26-tokyo Fig 3 - http://love-aesthetics.blogspot.ch/ Fig 4- http://stylesnooperdan.files.wordpress.com/2012/11/milan-fashion-week-mfw-street- style-model-off-duty-cable-nit-white-sweater-leathermin-skirt-alexander-wang-studded-rocco-duffle- balenciaga-sandals-mules-slngback-via-harpers-bazaar.jpg?w=830 Fig 5 - http://i-d.vice.com/en_gb/look/straight-ups/440/straight-up-david-sidibe-18-paris
IMAGE REFERENCES Competitive Market Overview: Fig 6 - http://djoybeat.com/wp-content/uploads/2012/12/DSCF2929.jpg Fig 7 - http://guidepal.com/dubai/bars--nightlife/cavalli-club-restaurant--lounge Fig 8 - http://milan.armanihotels.com/d/armani/images/dine/02_lounge/01.jpg Fig 9 - http://turnloosetheblog.com/wp-content/uploads/2009/09/boom-boom-standard-hotel- MG_1513.JPG Product / Service Fig 10 & 11 - http://www.leathercreation.com/ Promotion Fig 12 - http://www.thesocialite.co.za/wp-content/uploads/2012/02/alexander-wang-die-ant- woord.jpg Fig 13 - http://www.youtube.com/watch?v=vlhPf--Fgp4
IMAGE REFERENCES Interior http://s3.amazonaws.com/rapgenius/Black-Beauty-Bathroom-Interior-GSG-Ceramic2.jpg http://www.sabpa.com/wp-content/uploads/2013/06/Black-Residence-Space-With-Grey-Marble-Floor-Wnd-White-Wall-945x837.jpg http://www.decosee.com/picture/attractive-modern-minimalist-kitchen-table-fireplaces.jpg http://31.media.tumblr.com/9112451721ee44fd09b9fb4b65b2784f/tumblr_mtlhweWR091rf43pdo1_1280.jpg http://yellowtrace.s3.amazonaws.com/wp-content/uploads/2013/07/yellowtrace-alexander-wang-flagship-store-soho-new-york_08a.jpg http://thevoiceof.hipshops.com/wp-content/uploads/2013/08/alexander-wang-02.png nyc http://cdn.stupiddope.com/wp-content/uploads/2013/10/wang--500x333.jpg http://studio43.com/wp-content/uploads/2013/10/Alexander-Wang-Opens-Tokyo-Flagship-2-870x580.jpg http://studio43.com/wp-content/uploads/2013/10/Alexander-Wang-Opens-Tokyo-Flagship-5-870x580.jpg http://www.photos-public-domain.com/wp-content/uploads/2011/10/black-cat-fur-texture.jpghttp://www.photos-public-domain.com/wp-content/up- loads/2011/10/black-cat-fur-texture.jpg https://24.media.tumblr.com/2a8008ed4204e19ef91128c700e58422/tumblr_mwcxbxVzpF1qms91oo1_500.jpg http://minimal.jp/system/wp-content/uploads/2013/10/f07a6fa3e8a7c2c5a5e0eca9da4676a8.jpg http://www.greymarble.net/images/Grey%20Marble%20light.JPG http://www.wallpaper.com/galleryimages/17053401/gallery/05_Day1_AlexanderWang-001.jpg http://cdn.cstatic.net/cache/gallery/5212/5467512362_0c39351b70_o.jpg http://nitrolicious.com/wp-content/uploads/2011/02/P1040281.jpg http://static.tumblr.com/4aa2d12cad2b611779826ebb25800842/ru5taba/qkYmlp26w/tumblr_static_misty_forest.jpg http://2.bp.blogspot.com/-_eQfy7FpWeI/UFS_tgOv4uI/AAAAAAAAEYI/TiUqpUlLpZw/s640/tumblr_ma57tk9F8h1rfm0j0o1_500.jpg http://images.dazedcdn.com/786/dd/1040/6/1046160.jpg http://cdna.lystit.com/photos/2013/02/10/alexander-wang-aw13-new-york-1071-599127445_large_flex.jpeg http://4.bp.blogspot.com/-2S2-zIa4f-w/T85ndCqcJEI/AAAAAAAAAFk/NC2nmeFYT68/s1600/3839816387_5554803ef3_o.jpg
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