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OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
OUTSMART of Jibbitz
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OUTSMART of Jibbitz

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OUTSMART of Jibbitz

OUTSMART of Jibbitz

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  • - You can handle some of them within available time to do the business.- If think small, market size is too small to keep the business doing.
  • Transcript

    • 1. IM621 Value innovation with IT / Prof. Kim, Soung Hie
      OUTSMART ofJibbitz
      Team#6Yang Seong Soo
      Moon Sung Jin Son Hee Joo Yun Sahyuck Ham Seung Wan
    • 2. 2
      Out SMART idea of JIBBITZ
      0
      Contents…
      Company Overview
      AS-IS innovation
      TO-BE innovation – our idea
    • 3. 3
      Company Overview - JIBBITZ

      In 2005, Sheri Schmelzer spent the rest of the day filling holes in the family’s 12 pairs of Crocs.
      In February 2006, while Seri designed, Rich strategized. They decided to sell the charm through jibbitz.com
      When her husband, Rich came home, He could get the idea thathe could make big profitfrom that. And he’d filed a patent
      Rich soon found a way to get plastic Jibbitz manufactured in China. And they moved the operation out of their home
      one of Crocs' founders spotted Lexie’sJibbitz at the local pool, handed her his business card, and said, “Have your mom call me.”
      In December 2006, Crocs bought Jibbitz for $20 million, with the Schmelzers staying on board.
    • 4. 4
      Company Overview – CROCS

      Crocs Inc. makes footwear for men, women, and children
      General info & Recent Highlight
      Product Features
      • Headquarter- 6328 Monarch Park Place Niwot, Colorado
      • 5. regional headquarters - Niwot  the Americas - Singapore  Asia - the Hague  Netherlands & Europe
      • 6. Recent Highlight - Crocs Inc. signs with top teams in NASCAR (a new driver of earnings)
      - Acquisition of new companies Jibbitz
      - 2007’s 4Q earnings up 236% year over year, $112 million
      The unique resin material, croslite
      Ideal for casual wear, as well as boating, hiking, fishing, and gardening
      A soft, lightweight, non-marking, slip & odor-resistant shoe
      CustomerSatisfaction
      125 Countries
    • 7. 5
      Company Overview – CROCS business status

      Crocs Inc. has made excellent growth but there are many risks
      Business Highlight
      Risks
      [Growth Rate(%) / 2007]
      1
      Seasonality
      2
      Decline in popularity
      [Distribution of Sales]
      3
      Competition
    • 8. 6
      AS-IS Innovation - 2. Lessons From Jibbitz

      Control the speed
      Think Big
      Control the speed about the biz idea.
      Even if you have too much of good ideas,
      timely providing is more important.
      Rich Schmelzer understood that
      without the infrastructure to handle
      potential demand efficiently, he had
      to limit his commitments to customers
      Think big and consider the extension of biz model. Small market size make biz
      uneasy to keep doing.
      From the beginning, Jibbitz'sgrowth
      potential was limited only by the
      soaring growth of Crocs itself, but
      not all new ventures are so lucky.
    • 9. 7
      AS-IS Innovation - 2. Lessons From Jibbitz

      Consider your infrastructure
      Think targeted marketing
      Do not neglect your biz infrastructure and consider reengineering
      Jibbitzheld its payroll to just 40
      employees even as it grew in
      overseas markets and outsourced
      production to China.
      Keep your organization's structure
      Simple, then you can make your biz
      grow easily.
      Build a goal & think targeted marketing
      One way Rich Schmelzer kept operations under control was by relying on word-of-mouth marketing and Jibbitz.com; he avoided spending on traditional ads.
      Non-traditional marketing could be
      enough to Jibbits
    • 10. AS-IS Innovation - 2. Lessons From Jibbitz

      Take the long view
      Sheri and Rich Schmelzer were planning Jibbitz product extensions into anything
      having holes, such as, anklets, wristbands and cell phone charms.
      Definitely you should think about the
      future of the company in order to survive in more competitive market & population declining environment.
      Product extension
      8
    • 11. 9
      TO-BE Innovation - Our Idea

      ERP
      Tryvertising
      • Make DW to conduct Cost & Profitability
      management and do BSC
      • Time-saving
      • 12. Effectively manage supply chain in the
      world
      • Increase effect of Word of Mouth
      • 13. Get ideas through review
      • 14. Increase User Experience (UX)
      SEM
      • Draw people in many platforms
      (Participation)
      • Provide value-oriented service
      • 15. New value chain based on
      governance
      Design -Store
      SNS / UGC
      • Respond to mass customization
      • 16. Meet customer needs with agility
      • 17. Long-tail / Open platform
      • 18. Give customers unusual
      value proposition
      • Provide customers with
      revenue as customer value
      • Produce new product
      regardless of season
      • Utilize Collective Intelligence
      • 19. Reflect ideas in design stage
      • 20. Real-time customer response
      • 21. Make strong followers(Loyalty)
      • 22. Voice of the customers is
      the great collaboration
      • Improve brand valuethrough
      relationship
      • Provide production process
      (Transparency)
      Smart Phone
      • Provide continuityand
      multi-channel
      • Real-time decision making
      with using EMS
      • Convergence
    • Thank you~

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