ICM Report

download ICM Report

of 24

  • date post

    15-Aug-2015
  • Category

    Documents

  • view

    20
  • download

    1

Embed Size (px)

Transcript of ICM Report

  1. 1. ICM Final Year Project Client: The STARVISTA The Team: Daniel Chai, Joel Tan, Genevieve Goh, Courtney Thong and Ian Tan
  2. 2. Task at Hand To come up with a 6-month sustainability plan, spanning from January 2013 June 2013 for Capitaland for their new mall, The StarVista. The 6-month plan seeks to include key periods such as Chinese New Year and The Great Singapore Sales as well as a Corporate Social Responsibility (CSR) element. Objectives Our team has defined the objectives as follows: 1. To increase traffic to The StarVista throughout the 6-month campaign 2. To increase overall sales during the 6-month campaign 3. To brand The StarVista as the lifestyle hub of choice Goals Translating the objectives into clear and measurable goals, we have come up with 3 goals: 1. To increase traffic to The StarVista by at least 50% throughout the campaign 2. To increase overall sales for The StarVista by at least 50% throughout the campaign 3. To increase awareness of The StarVista by at least 50% by the end of the campaign The Big Idea 1 mall, 2 sights, 3 experiences Through our big idea, we seek to appeal to our target audiences on 3 different levels: 1. Physically 2. Emotionally 3. Self-Actualization
  3. 3. So as to offer our audiences the wholesome all-round experience The approach is loosely based on Maslows hierarchy of needs, whereby the needs are broken down into Physiological needs, emotional needs and self-actualization needs. Translating these needs into our theme, we have translated the needs into the 3 Rs, Revitalize, Reconnect and Rediscover. Physical: In order to address the physiological needs of our target audiences, our campaign will seek to brand The StarVista as a place where people can take a break, relax and get away from their daily lives in a place that provides good food and atmosphere. This need is addressed in the Revitalize phase of our campaign, which will be covered later in the release. Emotional: In order to address the emotional needs of our target audiences, our campaign will seek to further brand The StarVista as a place where people can bond with their loved ones in a place that facilitates the idea of reconnecting in a place that provides good food and atmosphere. This need is addressed in the Reconnect phase of our campaign, which will be covered later in the release. Self-Actualization: In order to address the self-actualization needs of our target audience, our campaign will incorporate a Corporate Social Responsibility (CSR) angle whereby the target audiences will be able to get themselves involved so as to fulfill their need for self-fulfillment. This need will be addressed in the Rediscover phase of our campaign, which will be covered later in the release. By addressing the needs of The StarVistas audiences on 3 different levels, our campaign will offer audiences the wholesome all round experience. In a nutshell, we seek to use the 1 mall, with its 2 sights (the indoor and outdoor environments)to offer our audiences 3 experiences so as to offer our target audience the wholesome all-round experience.
  4. 4. Our Tagline The wholesome life, easy as 123. Target Audience We have identified 3 key target audiences for our campaign and ranked them by a means of priority. Throughout the course of our campaign, we seek to target: 1. PMEBs (Professionals, Managers, Executives and Businessmen) 2. Families 3. Youths PMEBs Our primary target audience will be Professionals, Managers, Executives and Businessmen around the One-North area. As they work in the One-North area, it is likely that they will make up the bulk of The StarVistas visitors during the weekdays. Research has also identified the PMEBs around the One-North area as approximately 48,000. As a result, our team feels the importance of targeting them with our campaign, especially for an extended period of time. In addition to that, it has also been found out that individually, PMEBs possess a high spending power. By making PMEBs our primary target audience, we believe that sales at The StarVista will be significantly improved. Insights Based on a series of focus groups conducted with PMEBs around the One-North area, we came up with 3 key insights: 1. Their lives revolve around work and they find it hard to relax. 2. They feel the need for a getaway but are unable to make commitments due to their hectic work life. 3. The want to feel good about life As a result, the key message we intend to sell to them is: The StarVista offers you a quick getaway from the hectic routine of work.
  5. 5. Families Our secondary target audience is families. As families have a higher collective spending power, it would make good business sense to target them. In addition to that, families also tend to go out over the weekend, However, we do not seek to prioritize families as our key target audience Research has also shown that one of the reasons people spend time at suburban malls is to spend time with their families. By targeting families, we feel that we can increase both traffic and sales to The StarVista during the 6 month period. Insights Based on a series of focus groups conducted with families, we came up with 3 key insights: 1. Need time to reconnect with their families 2. Crave the emotional connection with family 3. Time spent with family is often a routine As a result, the key message we intend to project to them is: Reconnect with your family at The StarVista. Youths Our tertiary target audiences are youths aged 14 25 studying at institutions around The StarVista area. These institutions include: Singapore Polytechnic, Ngee Ann Polytechnic, Anglo Chinese Junior College, Anglo Chinese Independent etc. As these youths often have ample time after their school hours, they would contribute a significant percentage of The StarVistas traffic during the weekdays. Through secondary research, we have also found out that a majority of the Youth in Singapore receive an average monthly allowance of 200 300SGD. As a result, we can infer that youth have low spending power. Despite the fact that of all the target audiences our team has identified, youth have the most time in general, we are not making youth our primary focus due to the fact that their have the lowest spending power among all the target groups. However, we will still address them with our tactics.
  6. 6. Insights Based on a series of focus groups conducted with youth from institutions around the area, we have come up with 3 key insights: 1. They feel the need for companionship 2. Convenience is a priority for them 3. They are generally not satisfied with their lives and need a place to get away from the stress As a result, the key message we intend to sell to them is: Your happy place is just a stop away.
  7. 7. Programme Recommendations Our programme recommendations will cover a time span of 6 months, from January to June. Our programme will seek to give visitors to The StarVista the wholesome experience through the 3 experiences. Our 6-month plan will be split into 3 phases: Reconnect, Rediscover and Revitalize. January February: Reconnect January and February will be focused on the Reconnect experience, which will place a greater emphasis on activities focusing on facilitating emotion connection for our target groups. March Aprils: Rediscover March and April will be focused on the Rediscover experience. During these months, activities will place a greater emphasis on getting our target audience involved in pro-community activities. May June: Revitalize The final two months of the campaign will be focused on the Revitalize experience and activities will be focused on getting our target audience to get away from the hectic schedules of their daily lives and revitalizing and recharging themselves at The StarVista.
  8. 8. Calendar of Events 1. Reconnect General Activities General activities that will be featured during the Reconnect phase are: Cultural Exhibitions and group tours Chinese New Year exhibition billboards will be put around the mall allowing members of the public to tour the exhibits should they wish to. The exhibition billboards will feature information on the history of Chinese New Year as well as other cultural myths and traditions surrounding the festival. Roving ambassadors will act as tour guides for the exhibitions should the public wish to find out more about the exhibition. Parking rebates & Free lunchtime parking Parking rebates will given to customers who spend at minimum of $50, In addition to that, there will be free lunchtime parking (12:00 2:30pm). This is to encourage more people to visit The StarVista in groups, further highlighting the idea of Reconnecting. Mall decked out in festive colours From mid January to the end of February, The StarVista will be decked out in the festive colours of Chinese New Year, bringing out the festive mood. This would encourage audiences to visit The StarVista to be part of the festive atmosphere. Collaborations F&B outlets Feature CNY themed decorations within their premises and extend additional discounts to customers born in the zodiac year of the snake. F&B outlets would also be encouraged to have family/group meal promotions in line with the Reconnect phase.
  9. 9. Activities: Fu, Lu, Shou A large focus of the Reconnect phase will be centred on Chinese New Year. As a result, our team is proposing 3 weeks of weekend activities in the weeks leading up to Chinese New Year centered around the Chinese attributes of a good and wholesome life: Fu, Lu and Shou (Fortune, prosperity and longevity). These events will take place every Saturday from 19th January to 3rd February. Each Saturdays event will be hosted by DJs from popular Chinese radio station 93,3FM and will feature cultural performances every afternoon (12:00 6:00pm). Shoppers who spend a minimum of $88 at the mall can also sign up for a lucky draw, which will take place at