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a proposal by

KASSEY BARBEAU, KATHLEEN VOSS, LORI


GAGNON, SETH DAWSON, AND CODY
ZEDAKER

FOSSIL GROUP, INC.

"FOSSIL SMARTWATCH NEVER STOPS, EVEN


WHEN YOU DO"

project
AN INTEGRATED MARKETING
COMMUNICATION PROPOSAL
Executive Summary
Market Research APPENDIX
Marketing Strategy Magazine Advertisements
Situational Analysis Email Promotions
Product Analysis Social Media Pages
Competitive Analysis Conceptual Model
SWOT Analysis Communication Plan
Market Segmentation Strategic Summary Chart
Target Market Story Board
Positioning Media Plan
Marketing Objectives Budget Calculations
Communication Strategy Interview Questions

Creative Strategy Perceptual Map


ROI and Forecast
Creative Brief Works Cited
Creative Objectives/Plan
Strategy
Social Media
Fossil Fashion Challenge

Media Plan
Media Objectives
Media Vehicles

Budget and ROI


Executive Summary
The company Fossil Group, Inc. was founded in 1984,
when the watch industry was really starting to boom in
department stores. They came out with their first watch
in 1985. Something that really set Fossil apart was its
iconic "tin box" with designs inspired by the '50's. 
 
    In 1992, Fossil Group, Inc. decided to expand its
market and come out with a collection of leather belts
and goods geared towards their target market of 18 to 35
years olds.  Slowly, Fossil began expanding even more
and soon became a store where a customer could buy
anything from watches to belts to purses. Although
Fossil's brand started growing as they opened stores in
different countries and announced a partnership with
Michael Kors, they have been suffering from decreased
sales throughout the past few years. 
  
    Our team hopes to increase brand awareness of Fossil
Group, Inc. so that its sales return to what they once
were.  We were given a budget of 5 million dollars, and
we plan to execute a cohesive, omni-channel campaign
that will reverse their trend of declining sales. We plan to
spend our budget on commercial ads and sponsorships
that are aimed at increasing brand awareness,
especially within our target segments of athletes, young
business professionals, and tech-savvy individuals.
Market Research
As of right now, there are 4,215 businesses that sell
watches and jewelry online, and it doesn't stop there. 
Over the next 5 years, the growth of this industry is
supposed to be 7.4% (IBIS World). The bulk of this
increase in watch sales is supposed to come from
department stores, such a Macy's and
Nordstrom, where Fossil is often sold.  

 Watch sales are supposed to account for 15.8% of


revenue in 2017, and online watch sales are expected
to increase in the next 5 years (IBIS World). Fashion
jewelry is said to be a driving force of online sales,
whereas high-end jewelry is more often purchased in
brick-and-mortar stores.

 Marketing these products is said to cost a company


4.2% of the revenue they earn (IBIS World). Industry
operators are increasingly reliant on branding,
marketing, and advertising efforts to generate
revenue. Some competitors for Fossil Smartwatch are
brands such as Apple and Swatch.
Market strategy
Situational Analysis
Fossil today and the Fossil that was founded in 1984 have the
some core belief that people are greater together. The brand has
flourished with its watch and accessory lines for 18-35 year olds.
Fossil produces over 40 million watches annually, and decided
to expand into the smartwatch market.  
Fossil has over 14,000 employees, is located in three global
regions, and has 59 offices located in the 150 countries that Fossil
is run in. Despite Fossil Group, Inc.'s vast expansion and product
line, net sales in 2016 were 3 billion. While that may seem like a
large number, that is a 5.7% decrease from 2015, and in 2017, net
sales decreased even more to 2.7 billion (Global News Wire).
When segmenting sales into three geographic regions, North
America and LATAM, Europe, and South Pacific, America has
the largest market by a large margin contributing to 44.6% of
sales (Fossil Group INC). Watches alone counted for 76.6% of net
sales in 2016, but overall sales are only continuing to decrease
(Global News Wire).
Product Analysis
Fossil Group, Inc. is a global design, distribution, and marketing
company that has a special emphasis on luxury and vintage
fashion accessories, such as watches, handbags, and belts. They
offer accessories to both men and women who are "style
conscious" and are 18 to 35 years old. The products are sold
anywhere from department stores such as Nordstrom, to
specialty locations, to company owned retail stores. They also
sell their products through catalogs and online at their website
and affiliated websites. The average price for a Fossil Group, Inc.
product can range anywhere from $85-$600 and the average
price for a Fossil Smartwatch $225.
Marketing Strategy
Competitive Analysis
Fossil Group, Inc. competes in a highly competitive
environment. Watches can be divided into four different,
broad categories, whether they are lower price or luxury,
and mass marketed or sold in upscale stores or
department stores. Fossil competes with well established,
financially stable brands. Some of Fossil's top competitors
for their smartwatch include Apple and Swatch. Apple has
created a smartwatch of their own and is a dominating
competitor in mobile and media devices. Swatch is a
world leader in the watch industry, and has multiple
different watch brands that are implemented across
several segments. Some other smartwatch competitors of
Fossil Group, Inc. are Fitbit, Samsung, and LG.  
Fossil competes with other companies in terms of style,
price, value, brand name, and marketing. Fossil's
competitive advantage is its ability to identify and adapt
to trends in the forever changing world of fashion, while
still being loyal to their current customers and
maintaining a quality product. Also, Fossil has a distinct
business model in which they own the distribution in
multiple of their key markets and have an extremely
distinct portfolio all over the world.
Marketing Strategy
SWOT Analysis
Helpful Harmful

Strengths: Experience in Weaknesses: Large


traditional watch reliance on licensed
manufacturing, extensive brands; licensed products
Internal Origin

global network of contributed 48% of net


multiple distribution sales in 2016, large
channels, strong and reliance on third party
varied portfolio, manufacturers that may
constantly modifies lead to fluctuations in
product according to price, sometimes
fashion. inventory is too high.

Threats: High progress rate


Opportunities: Growth in technology and direct
opportunity in emerging competition with non-
markets in Asia and
External Origin

specialized watchmakers,
opportunities with multiple international
increased consumer brands with a higher brand
interest in healthier awareness, keeping up with
lifestyles market, fashion trends can be
especially with the extremely difficult, in an
smartwatches. extremely competitive
market segment.

(MBA Skool)
Market Strategy
Market Segmentation
 Fossil Group, Inc. is segmented towards fashion forward, middle-
to-upper-income men and women aged 18-35. Fossil largely
focuses on selling watches and smartwatches to men and women
due to the fact that watches are 70% of their revenue (EuroMonitor
International). Fossil is highly focused on maintaining its loyal
customers, but also  branches into new market segmentations.  
Since Fossil has such a broad price range, they have a somewhat
broad customer base. Customers who shop at department stores
such as Nordstrom, Macy's, and Neiman Marcus are most likely to
purchase the brand. Watches tend to be classified as a luxury item,
so many people who purchase watches are households with a
higher income.  Despite this, a Fossil watch is not something that is
considered highly expensive, so they have a wider customer base.
As said above, Fossil is geared towards 18-35 year olds, which
includes Millennials and Generation Xers. With the invention of
phones, watches are now used as an accessory instead of a
timekeeper. With this being the new trend, Fossil consumers
purchase the watches due to lower cost and fashion trends. 
Fossil watches tend to be bought as presents due to their affordable
price, and this is one of the reason Millennials are such an
important target market. The economy is a large driving factor
when making purchases, and Millennials tend to be more racially
and ethnically diverse than older adults. Millennials also tend to be
less religious, less likely to serve in the military, and are currently
on the road to being the most educated generation in American
history (Eads, 1). Millennials look to watches for fashion, but are also
extremely tech-savvy, making them a perfect segment for a
smartwatch.
Market Strategy
Target Markets
1) Young Professionals: Men and women aged 20-30 who are young
professionals, either starting off their career or working on their college
degree, who live a business-oriented, yet somewhat unpredictable
lifestyle.  They are always looking for a way to help organize their life as
they work long hours and are generally completing tasks or planning their
week. Values hard work and superior quality.
Main Benefits: 
-Generate word-of-mouth throughout the office and social groups
-Work with people who are like-minded
-Looking for ways to organize their hectic lifestyle (Need all-in-one watch)
-Business people tend to wear watches

2) Tech-Savvy: This segment includes men and women, ages 18-25, who
are the first to buy new technology. This individual is always up to date on
the latest technological trends and values efficiency.
Main Benefits:
-Word of Mouth through social media and face to face
-Acknowledges the importance of a quality watch
-Knowledgeable about product’s features
-Intellectual

3) Active Lifestyle: Men and women, aged 18 to 35, who put care and
consideration into being fit and living a healthy lifestyle. This person is
highly dynamic and may be involved in sports or other physically
demanding activities. 
Main Benefits:
-Extremely interested on what is going on inside their body (e.i. Heart
rate, sleep schedule)
-Very Competitive
-Use word-of-mouth marketing during sports/working out/other events
-Like to track fitness goals
Marketing Strategy
Positioning
Fossil is present in a time where Millennials are ruling the fashion
trends, and comprise a large portion of the global population.
Fossil has many competitors that are more high-end than they
are, but in this day and age, this is by no means a weakness. Fossil
has geared itself towards the public as a whole, not as one
segmented group. Its iconic tin packaging and retro feel make it a
staple in a specific consumer's mind, allowing it to venture into
new territories and segments. This is why when it comes to the
smartwatch, there are many different ways to position the
product. The smartwatch is more high-end than the average
Fossil watch, giving athletes, business professionals, and tech-
savvy people the chance to flourish with the product and all of its
features. It has been able to position itself against iconic brands
such a Apple and Swatch, while still maintaining an affordable,
original feel.

Marketing objective
The marketing objective is to create an integrated marketing
campaign for the Fossil Q Smartwatch while increasing
awareness and sales. This objective is targeted mainly towards
18-35 year olds that are stylish, innovative men and women who
tend to live busy and hectic lifestyles, and are often on the go.

Marketing Communications Objective


-Increase brand awareness baseline by 20%
-Drive up customer traffic (especially online) by 23%
-Increase sales of smartwatches of $300 million in 2017 by 10%
in 2018
Marketing strategy
Marketing Communication Strategy
The Big Idea: To have a multi-faceted campaign with different
aspects geared towards each target market. Each aspect will be
customized towards the different target segments so the
different groups can connect with the Fossil brand. Our three
main target markets include young professionals, athletes, and
those who are tech-savvy. The goal is to focus on people who
live busy, sometimes hectic lifestyles, and are constantly on the
go. We will emphasize the long battery life and features such as
the built in fitness tracker, access to social media, texting, email,
app alerts, alarm clock, and music. These are only a few of the
smartwatch's features, but the main ones that we want to
emphasize through our advertising. The goal is to target people
who would value the convenience the smartwatch brings, since
it takes the capabilities of multiple devices, and puts them into
one easy-to-use device. The smartwatch will be promoted
through several media channels such as Facebook, Spotify,
YouTube, Television, and print magazines.

=
Creative strategy
Creative Brief
Issue being addressed: Fossil sales have been declining at a
relatively rapid race. Sales have gone down nearly $500,000 in
the past two years (Annual Reports). Fossil, being the innovate
company it is, decided to release a new smartwatch collection,
Fossil Q. Unfortunately, sales are not what they had anticipated.

Advertising and Communication Objectives: We will use our


ads to direct our viewers to the Fossil website in order to learn
more about, and hopefully purchase, a Fossil smartwatch.

Target Audience: Our target audience is men and women within


the 18-35 year old age range, with an emphasis on young
professionals, athletes, and those who are tech-savvy. 

Major Selling Idea: The key benefit that we want to exude


throughout our plan about the hybrid and smartwatch is it's
wide array of features. As previously stated, we want to target
active, hard working, tech-savvy people. The goal is to
emphasize how incredibly easy this watch will make their lives,
and with the long lasting  battery life, they will not have to be
concerned with their device dying long before their day is over.

Creative Strategy Statement: It is wise to target people who are


looking for organization in their life, and want to be able to
combine several gadgets seamlessly into one. We also want to
target those who understand and appreciate the product and all
of the features it has to offer. The main theme will be that even
when you need to stop, Fossil does not.
Creative strategy
Creative objectives
-Create a campaign that truly encompasses the classic, fashion forward style Fossil
embodies, while still emphasizing the practicality and features of the smartwatch
-Use affordable celebrities, non A-list, who still have a high influence, and are geared
towards the target audiences
-Exhibit that this watch will make lives substantially more convenient, and is geared
towards maintaining an organized life, while still being fashionable

Strategy
The tagline for this campaign is that "Fossil Smartwatch never stops, even when
you do" and it is important to emphasize that throughout the advertising campaign.
Celebrities will be hired that embody each of the target segments, but not
necessarily A-list due to the budget. With those celebrities, the plan is to have
magazine ads with images of the smartwatch and catchy taglines. Commercials that
show products in use will be made, since the main focal point of this campaign is to
emphasize the features and how it helps organize a hectic lifestyle. We plan to
advertise on Spotify, YouTube, Social media, and TV. Commercials will air during
Black Friday and Christmas time, and we want the advertising to directly connect

Social Media
with the target markets.

Fossil’s presence on social media will grow to allow for more interaction between
customers online. Through Facebook, Instagram, and YouTube, Fossil will have the
potential to build new relationships and strengthen existing ones. We will promote
directly to the target markets. Many members are active online, through these
mobile apps and websites. Increasing Fossil's presence through these platforms will
allow for them to have a wider reach within these market segments.

Fossil Fashion Challenge


Create a new and innovative Fossil Group, Inc. look incorporating a Fossil Q
Smartwatch, for a chance to be featured in Fossil campaign ads. Post a picture on
Instagram of a look that you have created incorporating and inspired by the hybrid
or smartwatch. If you are chosen, you and one friend will be flown out to the Fossil
Headquarters in Richardson, Texas, where you will participate in a photo shoot for
the campaign, and will also receive a $10,000 cash prize.

To qualify to win, participants must follow Fossil’s Instagram, post a picture of


their look with the Fossil Q Smartwatch, tag Fossil in the picture, and tag 3 friends
to continue the trend. The winner will be determined based on the look that fits the
Fossil brand the best.
Media Plan
Media Objectives
-To grab the attention of new customers, especially those within
our target groups, and point their attention toward brick-and-
mortar and online stores in order to get new customers
-To put out ads on social media such as Facebook, Instagram, and
YouTube in order to increase purchase traffic and to make Fossil
the forefront brand in a consumer’s mind regarding smartwatches
-To create TV, Spotify, social media, and magazine ads geared
towards young professionals, athletes, and tech-savvy people that
will highlight the features of the watch
-Send out emails before Black Friday and Christmas highlighting
new sales promotions
Strategy
Our media plan is based on our target market, and their hectic,
on the go lifestyle. We will use media such as social media, a
large array of advertising, and emails. We will make different
advertisements based on the target market, such as having an
Instagram fitness guru geared towards our active lifestyle target
market, but the overall theme of organizing a hectic lifestyle will
stay consistent. We will heavily advertise and send promotion
emails during Black Friday and Christmas time, since it is
statistically shown that affordable watches are a commonly
purchased Christmas gift. The TV and magazine ads tend to
have a higher cost, but will reach a large audience. Due to this
high cost, social media advertising will be pivotal since it is a
lower cost medium, yet still effective in reaching a large
audience. We will use primetime TV commercial slots, and ads
in magazines such as Runner’s World, Forbes, and Wired. With
all of these media vehicles being used, there should be around a
total of 2,224,550,000 impressions during the entirety of this
campaign.
Media Plan
Media Vehicles
Print Magazines:  With Runner’s
World, Forbes, and Wired magazines
being the top sources of information
relating to each of our segments, we
decided to run ads in each of these
magazines. While we will cater each ad
to the specific segment, the main focus
of the ads will be the capabilities of
both the smartwatch and the hybrid,
while conveying Fossil’s brand image.
We decided on Runner’s World due to
their 15 million actively engaged
monthly readers, ranging from runners
in high school, to men and women in
their 30s that run for stress relief. 

We found Forbes to be the With Wired reaching 2.8 million


best way to reach our busy, monthly readers through their
young professional segment, print magazine we found this to be
being that it is the top source a good media channel to reach our
for business insight among tech savvy segment. These 2.8
young influential leaders, million readers include young,
consumers, and millennials. tech-savvy individuals that are
We also took into constantly seeking new ideas and
consideration that Fossil trying to stay relevant with the
endorsers Kristen Bell, Leslie next big thing in technology. Our
Odom Jr., and Yara Shahidi goal in running these magazine ads
have appeared in Forbes is to increase consumer awareness
which gives it strong ties to of the brand and product, while
the Fossil brand. keeping it specific to each segment.
  
Media Plan
Media Vehicles
Spotify Ads: Since listening to music through streaming applications
has become so popular, especially with 18-35 year olds, we wanted to
take advantage of this by playing advertisements through Spotify.
As the majority of Spotify users are 25-35 year olds and the second
largest audience is made up of 18-24 year olds, we can potentially
reach a large portion of our target segments (BrandOwner).

Email Promotions: Based on of the success of email promotions by


other companies before Black Friday and Christmas, we decided to
create advertisements centered around these busy shopping seasons.
Emails will be sent out leading up to Black Friday and Christmas, in
November and December, to make consumers aware of sales and
increase consumer’s attention on Fossil Q Smartwatches. Many
buyers wait for these two holidays to buy Christmas presents, as
there are many different deals offered. There is enormous potential
for sales during this period, so by sending out email promotions, we
can reach this potential. These emails will be sent out to members of
our rewards program as we have their email addresses already
available to Fossil, and to 1,500,000 leads we purchased. The cost
allocated to these leads is $225,000 (HBR).

TV Commercials: We will devote $2.268 million for the production


and airing of television commercials. This is such a large portion of
our budget because this is our main way of reaching our target
markets. Many of them watch prime time television, especially our
active lifestyle individuals who watch sports. We can specifically
target our segments through these different networks, depending on
the time slot and what TV shows are playing at those times. Another
reason we are allocating such a large portion of our budget for
television commercials is that prime time commercial slots are very
expensive and competitive to obtain.
 
Media Plan
Media Vehicles
Social Media: Since our target market segments are very active on
social media platforms, we are going to be using Facebook,
Instagram, and YouTube to reach these segments. The different
segments already have social media accounts created as they are 18-
35 year olds (Statista). Fossil Inc. already has a Facebook page that
currently has nearly 3,400,000 followers. Their Instagram account
has 924,000 followers and their YouTube account has nearly
54,000 subscribers. There is potential to increase Fossil Inc. Group’s
follower’s involvement through advertising on each platform. We
will release a variety of advertisements through these different
platforms to attract a wide array of our target markets. One of these
advertisements across the different social media platforms will be
focused on the Fossil Fashion Challenge.  

By using endorsers specific to our different segments, we can better


reach and influence these target markets by showing how Fossil
smartwatches helps organize busy lifestyles. For the 25-35 year olds
of our market segments, we chose to target them through
Facebook, since that age group is the largest demographic using
Facebook. We chose Instagram and YouTube to reach our entire
target age group, as 18-35 comprises the largest age demographic
for Instagram and YouTube users. For social media endorsers we
determined that we would need to spend $180,000 for 6 separate
collaborations (at three posts each), two per target segment, with
endorsers who have 1,000,000 followers each. This way we will
reach over 18,000,000 people with 18 different posts on Instagram.
We allocated $250,000 for Instagram ads and $250,000 for
Facebook ads with impressions 120,000-740,000 daily for reach
and 3,000-19,000 daily for link clicks. For YouTube, we wanted to
reach 1,500,000 viewers of our ads for 2 months, so we allocated
$300,000 for the cost per views.
Budget
Evaluation and Final Recommendations
Contingency: We allocated $150,000 of the budget for
contingency. 
 
Evaluation Plan: Throughout July-December, the duration of the
campaign, we will keep an extremely close eye on, not only
increases in sales, but how engaged the target markets are on social
media. We will be looking at comments, likes on Facebook and
Instagram, new follower numbers, and hashtags. The built-in
analytics tool on social media will be heavily monitored to keep
track of the effectiveness of Fossil’s posts. We will keep track of all
of these numbers especially during the Black Friday and Christmas
periods, and compare this to previous years to see if the email
promotions, and overall marketing campaign was successful at
increasing sales during prime shopping times. It will be vital to
track new customers coming in, versus returning customers, to
measure complete effectiveness of the campaign. Though this may
be more difficult to do, word of mouth is one of the most
important forms of marketing since it is direct customer to
consumer feedback. The best way to gain this is through follow-up
surveys or asking a question on the purchasing form.

Final Recommendations: Plan events during days such as World


Athletics Day, or huge sports events such as the Super Bowl.
Really highlight holidays on social media, such as for Black Friday
and Christmas, and also include the smaller holidays. With young
professionals usually living a hectic lifestyle, gear ads towards them
since they sometimes can be forgotten.
Tech-savvy people thrive off of innovation, continue to recreate
and improve the watch, adding new features when appropriate.

 
Magazine Ads
Email Promotions
Social Media Ads
Conceptual Model

Communication Plan
Strategic Summary Chart
Finding Action

Majority of interviewees Increase product and brand


were unaware that Fossil awareness through a targeted
has smartwatches and extensive IMC plan
Many interviewees liked that Create a campaign focused on the
there was more of a variety in variety of designs and functions for
design of Fossil smartwatches the smartwatches. Interviewee said
than Apple smartwatches that they need to increase advertising

Majority of interviewees were Highlight this on-the-go


in favor of the watch having feature during
a long battery life advertisements
Almost none of the interviewees felt
Highlight the affordable
the Fossil smartwatch was overpriced,
but needed to know more about the price compared to the
watch before spending their money. great quality
The more fitness-oriented Segment our market around
interviewees liked the watches’ lifestyles and have this group as
ability to track their steps and other one of our top market segments
similar features regarding health that we are targeting
Story Board
Media Plan
Budget Calculations
-Instagram Ads: $5 CPM x 50,000,000 impressions = $250,000
-Social Media Influencer: $10,000 per collaboration x 3 posts per
endorser
6 endorsers at 1,000,000 followers each= $180,000
-Spotify Ads: $30 CPM x 10,000,000 impressions = $300,000
-YouTube ads: .20 per view = $20,000 per 100k views
1,500,000 views= $300,000
-SEO: $15,000/ month x 6 months = $90,000
-Fossil Fashion Challenge: $10,000 cash prize + $700 2 person
round flight + $200 hotel fees + $300 food and transportation +
$15,000 photo shoot

Insertions:
-Runner's World: 3 months, 2 ads per issue
-Forbes: 4 months, 1 ad per issues
-Wired: 3 month, 1 ad per issue
-This is Us: 2 30 second spots
-Shark Tank, Scorpion, Football in America: 3 30 second spots
-Fox Sports Saturday: College Football: 4 30 second spots
-Facebook: 1 ad weekly for 4 months
Instagram: 1 ad weekly for 4 months
-YouTube: 2 ads a month for 2 months
-Spotify: 2 ads weekly for 2 months
Fossil Fashion Challenge: 1 ad weekly for 1 month
Email Promotions: 2 ads weekly for 2 months
Interview Questions
Wearable Technology Awareness - brand recall test
-What brands of wearable technology are you aware of?
-Do you own a smartwatch?
-Would you ever buy one?

General Advertising
-Where do you buy your wearable technology/where would you
go to buy?

 Fossil Smartwatch Brand Evaluation


-What do you know about this brand?
-If you are aware of it are you unfavorable, neutral, or
favorable? Open ended
-What do you like about this product 
-What could be improved on this product?
-Would you consider this product when purchasing a
smartwatch?

Price 
-How much would you pay for this?
-It’s on the market for $250, how do you feel about this?

Social Media
-If you saw this in an advertisement would it catch your eye
(what about it catches your eye)?
Perceptual Map
ROI
Low Response (5%): 
$7,665,000 - $ 5,000,000= 53.3% 
 $5,000,000   

            Medium Response (7.5%):


$11,497,500 - $5,000,000= 129.95%
$5,000,000

High Response (10%):


$15,330,000 - $5,000,000= 206.60%
$5,000,000

 * Fossil Q Smartwatches were approximately 14% of total watch sales in 2017, which
equalled $2.119 billion. This makes wearable sales $306,600,000 for the entire year of
2017.  The goal of this campaign was to increase sales by 10% in 6 months, making an
increase in sales of $15,330,000.  With the budget of $5,000,000, the ROI equaled
206.60% if all goes accordingly.

Forecast
Projected Sales for
Total Impressions
Campaign

(10%) 15,330,000
2,224,550,000 (7.5%) 11,497,500
(5%) 7,665,000
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