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Course Written Project

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Transcript

  • 1. Course WrittenProjectBy: Morgan Baldwin, Kevin Burdiek, Jennifer Cox,Dier Liu and Maia Ashley Eusebio
  • 2. Background Founder -Grace Brown Mitchell Launching an online clothingstore Venture Creation Idea Action Started in 2011 Small Business Award fromTopeka Chamber of Commerce.
  • 3. SWOT AnalysisStrengthLow cost.Easily accessible.Uniqueness of the goods.Fashionable styling.Physical location.WeaknessHigh priced.Low brand awareness.Lack of promotions.More physical location needed.OpportunityOnline clothing industries are risingsharply.Growing demand.Online and Offline marketingstrategies.ThreatsToo many competitors.Economic downturn.
  • 4. Competitors Analysis Overviewshopgracieb.comStrengths WeaknessEasier to select goods.Targeted marketingUnique productsHighly involved in social mediaGreat quality of productsExpensive DeliveryLack of choosesLack of traditional marketingLack of physical locationsLess variety of stylesLack of immediate customer care, like online chatting.Lack of customer ratingsurbanoutfitters.comStrengths WeaknessMore chooses of goodsFamous designerMass marketingGreat brand awarenessVarious price rangesMany physical locationsFaster and cheaper deliveryOnline chatting serviceConsumer hard to find the product that they want, whenthere is too many choose.Low quality in some of their products.
  • 5. What can We Learn fromCompetitors Analysis?Customer Review
  • 6. What can We Learn from CompetitorsAnalysis?Source: online at e-tailing website, 2013 Merchant Survey Resultshttp://www.e-tailing.com/content/wp-content/uploads/2013/04/etaildetail_merchantsurvey2013.pdf95% of consumerfind productratings are helpfulin accessing theproduct
  • 7. UrbanOutfitterutilizedYouTubevery wellGrace B onthe otherhand did notincorporateYouTube alot
  • 8. Branding Personality Brands Are Like People Distinctive Image Product Identity
  • 9. Competitive Advantages Identify what Gracie B does well Distinctive Competency Differential Benefit
  • 10. Branding StrategiesVisual Courtesy of GoogleTo be successful we must consider manydifferent aspects of our brandingstrategy, to create a relationship withour consumers that will bring benefit toall whom are involved in a businesstransaction. Above are a few to keep inmind!
  • 11. AwarenessInterestEvaluationTrialAdoptionConfirmationMarketing ObjectiveThe objective is to make consumers on Washburn University’s campus aware ofGracie B’s collection and persuade them to adopt her style for all seasons of theyear.
  • 12.  Awareness• Airbods• Facebook• Washburn Review Interest• Pinterest pin it to win it• Seasonal/Holiday sales• Free Shipping Evaluation• Online ratings/reviews• Pictures present confidence in style Trial• Fashion Show• Look Book• Sorority house visits Adoption• The Hub• Shopgracieb.com Confirmation• Compliments• Trending
  • 13. SalesProfitsIn clothing retail stores like Gracie B, the product life cycle is neverending.
  • 14. Identification of the TargetMarket
  • 15. Target Marketing Process
  • 16. Positioning
  • 17. Targeting Strategy Concentrated Marketing Strategy
  • 18. Marketing Tools and Strategies
  • 19. Traditional Media Newspaper (Washburn Review) 1,500 printed newspapers/week
  • 20.  Radio (AirBods)
  • 21. Social Media Twitter 326 followers at thebeginning of the semester 601 followers currently185% Increase
  • 22.  Facebook 5,500 Total Facebook Members 400 likes at the beginning of the semester 630 likes currently167% Increase
  • 23. Marketing Strategy Process