<Fashion Market Analysis> in Seoul Women’s University, 2019
Instant Funk Brand Marketing Analysis
This project was conducted as part of the second-year <Fashion Marketing> course, providing an opportunity to analyse the marketing environment of a brand of interest, “INSTANT FUNK”, based on what was learned in class. The main analysis included examining the brand's internal and external marketing environment, a SWOT analysis, STP strategy, and the 4P marketing mix. By evaluating the strengths and weaknesses of INSTANT FUNK's existing marketing strategy, I proposed the direction the brand should take.
INSTANT FUNK has established a unique style by emphasising 'funkiness and modern trendiness' as its brand identity. This enabled the brand to stand out in the highly competitive unisex fashion market. Designer Ji-Hye Kim's personal SNS and YouTube channel played a significant role in INSTANT FUNK's growth by actively communicating with customers and promoting brand value. This showcased how personal branding can be closely linked to brand marketing.
With the importance of the online market highlighted by the COVID-19 pandemic, INSTANT FUNK has actively responded to online market expansion by establishing English, Chinese, and Japanese online shops while entering various online channels and duty-free stores. As gender-neutral fashion has become a trend, unisex fashion brands have been steadily increasing. INSTANT FUNK has effectively leveraged this trend by offering unisex products.
INSTANT FUNK targets trendy, mannish-style men and women in their 20s and 30s. By focusing on trendiness and reasonable pricing, the brand has differentiated itself from competitors. The brand increased awareness by promoting reversible MA-1 jackets and long shearling coats as signature products. The varied pricing strategy from mid to high range allowed it to cater to a wide target audience. While pursuing an online-first strategy, it also secured offline touchpoints through flagship and pop-up stores. Brand awareness was enhanced through Ji-Hye Kim's personal SNS marketing, seasonal presentations, and events like flea markets.
I suggested some improvement and growth strategies. INSTANT FUNK should emphasise its unique, funky, and distinctive character in the competitive unisex and women's fashion markets. As a unisex brand, it should diversify the product line currently focused on women's wear to include more men's wear to secure a broader customer base. Along with expanding the online market, enhancing customer experience through offline flagship stores is equally important.
Through this project, I gained a comprehensive understanding of the key elements of marketing and the marketing trends in the Korean designer brand market. In particular, I observed that strategies for engaging consumers through online platforms like Instagram and YouTube are actively used in the fashion market and that the importance of the online market will continue to grow. Additionally, I realised that with the increasing number of unisex and women's designer brands, strengthening each brand's identity is crucial.
I was able to systematically understand how a brand's marketing strategy is established and implemented. I gained valuable insights into how designer brands maintain their unique style and secure competitiveness, and how the detailed elements of marketing strategy produce results.
The fashion market is constantly evolving, and through the case of INSTANT FUNK, I realised how crucial marketing strategies that drive consumer engagement, a solid brand identity, and agile responses to trends are. This has provided a valuable opportunity for me to grow as a marketing professional.
Project Outcome
You can see the learning outcome through this file. Unfortunately, only the Korean version is available.