Gone are the days of Kmart being your one stop shop for all household goods now, Kmart can be your one stop shop for well, everything…
In an effort to expand their client base and appeal to different, more upscale, audiences Kmart is re-branding itself. Not only have they hired a famous photographer and 250 up-and-coming international designers, but they have also bought ad space in the celebrated September Issue of Vogue. The ad campaign will debut their fall collection, a whole line based on the latest trends from military jackets, jeggings (jean leggings) and faux fur vests to floral inspired patterns, and rocker chic looks.
Does Kmart’s new business plan/marketing model sound familiar? It should. Not too long ago Target did the same thing. By having exclusive deals with different luxury designers Target has been an attractive option for the younger, more educated, and affluent audience. Now, Kmart is following suit and after Target’s clients.
Also part of Kmart’s re-branding scheme is their updated home design section. Again, rising designers have been commissioned to produce quality products at great prices. Every room in your world (dorms rooms to country homes) can be transformed and refreshed with trendy, hip and classic items from Kmart.
CoreBrand has been benchmark tracking both Kmart and Target since 1996. Today, Kmart’s familiarity is a solid 93 (on a 100 point scale) while their favorability is at 36. Target’s familiarity is at 92 and their favorability at 73. Kmart’s Brand Power (the relative strength of a brand) is only 36, whereas Target’s Brand Power is 68. Target’s superior scores can be partially attributed to their having used this marketing model for several years already, giving them a solid head start over Kmart.
Going forward, what will be important to Kmart, and ultimately dictate their success, is the way they, as a company and a brand, differentiate themselves from Target. Kmart won’t be happy following in Target’s footsteps forever, it will be interesting to see what they come up with next and how they set themselves apart from the competition.
Check out Kmart Design’s official site to see the revived brand.blog comments powered by Disqus