Case Study: MUSINSA’s Unique Business Strategy
Recently, there is an emerging brand in Korea. It is online fashion store brand, called ‘MUSINSA’. I wonder if it is right to say them as online fashion store because their business is being continuously expanded.
The reason to introduce this brand is that MUSINSA’s activities are very unique, fast, and trendy, and finally, they are quickly being closed to our daily life. From the previous year, they started to make a big advertisement, and recently, they are quickly expanding their influence with collaboration to other famous brands.
So, why is MUSINSA emerging in Korea?
There are some key factors for that. Let’s check these reasons.
Avoiding Major Brands
This is a trend in our modern society. Unlike the past, most people think that brand value and name is not important factor to buy, and practicality and reasonable price is important. There are no cases that people unconditionally believe in major brand name and its value. They buy something after searching information about what they want.
MUSINSA do not handle traditional or famous brands as key brands. Famous brands are provided by a collaboration or special events/promotions. These strategies are interactive and interesting points to lead potential and the existing customers.
Business from Magazine and Community
MUSINSA started their business with community related to fashion. As its next, they expanded the business into magazine. Consequently, they have ability to continuously create related information and contents to fashion because of having know-how and accumulated data about fashion.
Based on these, they launched a new brand, called ‘MUSINSA Magazine’. This brand is providing various information and fashion’s knowledge with their products sold in ‘MUSINSA Store’. These connection or collaboration is very natural and make a synergy.
Viral Marketing
MUSINSA is creating and posting fast their contents about fashion via MUSINSA Magazine. At the same time, they expect explosive inflow of potential customers by utilizing premium time of big ads platforms, even though its time is very short.
Also, they have actively an affiliation with other emerging brands in other industry, such as CashSlide or TOSS. Through this, some of the customers utilizing those platforms are making a viral to spread their contents. This being so, it is expected to make positive effects.
Patness of Family Brands
MISINSA launched a new brand for women. Also, they have a brand for magazine, called ‘MUSINSA Magazine’. Recently, they launched a new brand, called ‘MUSINSA Terrace’, which is public and trendy place with offline fashion store. Its special thing is that its places are located in the top of buildings.
These activities are making new and the existing customers to naturally have MUSINSA’s interests. At the same time, they launched ‘MUSINSA Standard’ as their own-brand. All actions and brands are complementary and making a good cycle for their business.
Free Delivery and Coupon
Generally, customers are satisfied by brand experiences. For this, a company should give a real value to the customers. Now, MUSINSA are offering delivery for free and actively giving discount coupons. Their marketing actions are not much. However, because these are certain, it can make explosive synergy with invisible values.
Closing…
Personally, I think that it is hard to discover a company leading a trend and making synergy with all related brands. Of course, even though some people concern about quantitative expansion of their business, their brand value will not be easily broken.
They are still expanding the business. Their case is a good case for studying brand, platform, and marketing. Also, it will be good to grasp our economy trend or business flow.
Case Study: MUSINSA’s Unique Business Strategy
Recent Related Articles:
- Chatbot Trend 2020: Executive Summary (Prologue / Epilogue)
- Shake Shack Open Review: Jong-Gak / Gwang-Hwa Moon, Korea
- Will Blue Bottle be Think Coffee?
- KAKAO Friends Popcorn and Contents Marketing (Feat. LOTTE Cinema)
- GwangHwaMun Good Place for Coffee/Bagel: FOURB
Related news and external references (KOR Ver.):