Situation Analysis on Taylor Swift’s Wonderstruck Fragrance

Topics: Perfume, Target market, Taylor Swift Pages: 11 (3692 words) Published: May 14, 2013
Situation Analysis on Taylor Swift’s Wonderstruck Fragrance

Table of Contents

1.0 Situation Analysis/Current Marketing Mix
1.1 Current Product 3
1.2 Current Pricing 4
1.3 Current Distribution 5
1.4 Current Promotion 6

2.0 Brand Positioning Theory
2.1 Brand Positioning 6
2.2 Perceptual Map 7
2.3 Perceptual Map Elaboration 8

3.0 Target Market Identification
3.1 Geographic Segmentation 9
3.2 Demographic Segmentation 9
3.3 Psychographic Segmentation 10
3.4 Behavioural Segmentation 11

4.0 References 12

1.0 Situation Analysis/Current Marketing Mix
1.1 Current Product
The product benefits highly depend on the consumer’s primal need and primal want: fragrance consumption and desired tangibles (e.g., the perfume bottle, box), respectively. Wonderstruck’s scent attributes consist of the top notes -- “freesia, apple blossom, and raspberry spark;” heart notes -- vanilla, honeysuckle, and white hibiscus; and base notes -- golden amber, sandalwood, and peach (Elizabeth Arden 2012). On the other hand, the product’s features include bottle sizes of 1.7, 3.4, and 6.8 ounces; fragrance types of Eau de Perfume and Gift Set; and its complementary application types of shower gels and spray (Nextag 2012). Extra products upon purchase include certain artist-inspired memorabilia such as promotional bag, lotion, shower gel, hand-held purse, t-shirt, and car freshener (Maldonado 2011). Extra service includes the ‘meet and greet’ session with the artist, Taylor Swift, for consumers who “purchase one of 300 exclusive $153 All-access Wonderstruck Packages” (Mann 2011). The perfume spray comes in three sizes and is recommended to best complement with the Wonderstruck scented bath and body lotion (Elizabeth Arden 2012). The model is exclusively Taylor Swift -- the fragrance was ‘tailored’ to her taste (i.e., personality). Consumers consist of women of all ages, though the largest bulk of the market comes from the tweens and teens (Taylor’s music fans). The time consumers are willing to spend to look for Wonderstruck highly depends on the consumer type. Die-hard fans go for the nearest available stores; Scent-hunters, who are used to buying scent products, have a good knowledge on where or when to look for the best deals. Thus, Scent-hunters usually are willing to spend more time in ‘hunting’ the product, than Die-hard fans. The wide availability of such product on online shops makes substitution almost a no-no. However, for some consumers that find Wonderstruck smelling closely similar with some scents (e.g. Viva La Juicy), then substitution may be more likely to commence. The product had been in the market for roughly six months already (Taylor Swift Launches 2012). The product’s unique factor against competitors lies on the teen or tween context of ‘a magical, fairy-tale journey.’ The distinctive aspects of its packaging and labeling are the unmistaken Taylor Swift name script below the product name, and the packaging, which just like the bottle, consistently carries the ‘magical fairy tale’ theme. 1.2 Current Pricing

Wonderstruck exists in the competitive market of celebrity fragrances wherein actors, actresses, models, musicians, or a mix of each had launched their own fragrances; this makes the competition to be characterized as a ‘battle of star power.’ In this accord, products that are anchored in the artist’s name are like basic indicators of success. The product sales of the endorsed product is used to evaluate the artist’s prominence (and failure, too). Thus, in this case, to ensure that Taylor Swift stays on the ‘top’, her royal fans will invariably buy her endorsed...

References: Chaturved, Megha. 2011. Celebrity Fragrances of 2011. Bornrich.
Elizabeth Arden. 2012. Wonderstruck Taylor Swift Eau de Parfum Spray. Elizabeth Arden, Inc.
ElizatbethArdenBeauty. 2012. Taylor Swift WONDERSTRUCK: Chapter 2. YouTube video,
0:33
Hensel, Amanda. 2011, July 15. Taylor Swift Launches Wonderstruck Fragrance Inspired by
Owl City’s Adam Young
Jansen, Ara. 2012, March 5. Music Review: Taylor Swift. The West Australian. Accessed March
26, http://au.news.yahoo.com/thewest/entertainment/a/-/entertainment/13087181/
Kats, Rimma. 2012. Wonderstruck Taylor Swift Uses Mobile to Engage Fans with Fragrance
Launch
Maldonado, Kristen. 2011. Taylor Swift ‘Wonderstruck’ Perfume Review.
Mann, Tonya. 2011. “Are You Ready To Be Wonderstruck? See Taylor Swift Live On
Thursday! Mblog.” Macys.com
Matusow, Jamie. 2012. Beauty Company of the Year-Excellence in Packaging: Elizabeth Arden,
Packaging Megabrands for Global Success
Miss Rebecca. 2012. “Wonderstruck” by Taylor Swift.” wordpress.
Music. 2011, August 11. Taylor Swift Australian 'Speak Now ' Tour 2012. the dirt. Accessed
March 26, http://www.thedirt.com.au/entertainment/music/gig-guide/blog/
Nextag. 2012. Taylor Swift Wonderstruck. Nextag, Inc. Accessed March 26,
http://www.nextag.com/taylor-swift-wonderstruck/compare-html.
Rickard, Lucy. 2011, August 30. Perth The World 's 8th Most Liveable City. WA Today.
Taylor Swift Launches Her First Fragrance Wonderstruck. 2012. BecomeGorgeous.com.
Taylor Swift @ Burswood Dome, Perth. 2012, March 2. Wots On. Accessed March 26,
http://wots-on.info/whats-on/?event=Taylor_Swift_at_Burswood_Dome_Perth--Perth--WA--Australia--000A7iQ--Live_Music.Country--2012-03-02.
Wonderstruck a Fragrance by Taylor Swift. 2012. swiftybuzz. Accessed March 26,
http://swiftybuzz.tumblr.com/Wonderstruck.
Wonderstruck In-store Appearances. 2011. Taylor Nation, LLC.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Situation Analysis Essay
  • Situation Analysis Essay
  • SITUATION ANALYSIS INDUSTRY ANALYSIS Essay
  • Taylor Swift Analysis Essay
  • Cottle Taylor Case Analysis Essay
  • Cottle-Taylor Analysis Essay
  • Mkt Situation Analysis Essay
  • Communication Situation Analysis Paper

Become a StudyMode Member

Sign Up - It's Free