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Report-FrenchVillEdge

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Report-FrenchVillEdge

  1. 1. 1 French Vill’Edge Prepared By: Kathryn Drumhiller Emily Edmond Jessica Perez Nikki Perez Operations and Supply Chain Management: MGMT 3165 Fall 2015 November 11, 2015
  2. 2. 2 Table of Contents Intro Website Customer Feedback Software Customer Gift Registry Software Survey Appendix A Appendix B Appendix C
  3. 3. 3 First of all, we want to thank you for working with us on our Operations and Supply Chain Management project this semester. We appreciate your cooperation and willingness to work with us. This was a huge learning opportunity for us and we are glad that we are able to work with you and learn more about French Vill’Edge. After successfully operating for the past eight years, it is clear that French Vill’Edge is operating effectively. As you know, a primary goal of our project is to create value for French Vill’Edge. We learned that the French Vill’Edge operates to a very high standard and does many things very well such as demand forecasting, building relationships with suppliers, and keeping inventory lean. We feel that there are some places where there could be even more value added. There are a few missed opportunities using technology that can be strengthened in three different areas that we will discuss below. After the initial setup of each component, all of our suggestions and options can be used and integrated with one another. That way, you only have to focus on one tool instead of three or four different ones. Our following report represents ways to even further the success of French Vill’Edge. Website Having an online presence could be very beneficial for French Vill’Edge. This will allow French Vill’Edge to better meet customers’ needs. By expanding your company offerings to the internet, French Vill’Edge will be able to engage further with your customers and have the chance to attract new customers. A few examples of how French Vill’Edge could implement the website would be to do seasonal a lookbook and a blog with the trends and styles that will be popular for the upcoming season. Something that would catch customers’ attention would be “How To” videos on your blog. This will keep customers coming back to your website to see how they can wear your clothing in several different ways. Along with creating an opportunity
  4. 4. 4 for a greater number of customers, there are several other benefits to having a website for your small business. The first is competition. All of French Vill’Edge’s local competitors have an online presence. If French Vill’Edge expands to the internet, you will be able to compete on the same level as your competitors. This can create another sales tool for your company and provide a potential increase in sales. Another advantage to having an online presence is being able to build an email list to keep your customers updated on new arrivals, sales or discounts. Expanding your company to have an online presence will allow your customers to be able to shop at any point of the day from wherever they are. If the system is run to the best of its ability, the returns can be very rewarding. If you decide that creating an online presence would be beneficial for French Vill’Edge, then there are several options of website domains that can be utilized to satisfy your needs. There are a couple examples of websites to use in Appendix A. Customer Feedback Software One of the biggest goals for any retailer is to provide a great product to their customers. The second biggest goal, and one that only further increases the value of what you have to offer, is to offer great customer service. In order to build better customer service, it is crucial to be able to have feedback tools that allow the user to interpret how customers are reacting to what French Vill’Edge has to offer. By knowing how they feel, French Vill’Edge can better tailor your product offering to what they want. It can also allow you to respond quickly to any changes that occur in the market, which provides French Vill’Edge an advantage over its competitors. One of the most commonly used customer feedback tools is a survey. The only way to make surveys effective is if you can get your customers to respond. Response rates of different survey developers can vary, so a sight with a high response rate is something to look out for. After
  5. 5. 5 receiving the data from your survey, the next step is to analyze and use it in a way that benefits French Vill’Edge. A few different options have been given to you below. These will make it easy to analyze the data and build value throughout your operations. Please refer to Appendix B. Customer Gift Registry Software The gift registry software gives French Vill’Edge a competitive advantage by bringing in more customers without having to change the inventory or who your current target market is. By catching the attention of more consumers, French Vill’Edge will be able to benefit by bringing even more profit in from these new customers. French Vill’Edge’s target market of college women will be able to pick and choose which clothing, jewelry, or shoes they would want making it easier for their family and friends to come to the French Vill’Edge and purchase these items for them. This will help expand the amount of people who come to The French Vill’Edge. For example, boyfriends, parents, grandparents, etc. will have a way to pick out gifts that they know their girlfriends, daughters, or granddaughters would love to receive. For the gift registry, we found two options that we feel would be most beneficial to French Vill’Edge. Please refer to Appendix C. Survey Our team created a survey utilizing Survey Monkey. We then posted the approved survey onto the Bobcat Exchange Facebook page. We formulated the survey questions from a non- biased perspective and were able to gather data from 52 students. Out of the 52 students who answered the survey, 9 were male and 43 were female. From the results, we can learn that not as many students shop downtown as originally thought. This survey suggests that there is still an untapped market within the French Vill’Edge’s target market. This untapped market represents the 55.76% of students that responded that they never or rarely shop downtown. Out of the students that responded that they do shop downtown,
  6. 6. 6 stated that they shop primarily at Jack and Milly and French Vill’Edge. According to the survey results, it is not likely for students to shop downtown multiple times a month. We think it is important to realize that students really place value on stores pricing as well as their clothing selection. We believe that it is also important to constantly survey students on their experience shopping at French Vill’Edge to constantly receive feedback.
  7. 7. 7 Appendices Appendix A- Website 1. Weebly.com a. Website Only i. Free Package 1. Domains a. Subdomain (free) i. www.frenchvilledge.weebly.com b. Create your own i. $10 a year for 10 years (best option) 2. Theme a. Choose your theme for free 3. Settings a. Edit your company’s information b. Website With Ecommerce i. Business Package 1. $25 per month a. Fully integrated ecommerce and shopping cart 2. Orders a. Able to review orders: i. Order number ii. Order date iii. Customer iv. Order status v. Order total 3. Domain a. Subdomain (free) i. www.frenchvilledge.weebly.com b. Create your own i. One year free custom domain ii. $10 a year for 10 years (best option) 4. Theme a. Choose your theme for free 5. Settings a. Edit your company’s information 2. Supadupa.com
  8. 8. 8 a. Website With Ecommerce i. Business Package 1. $29 per month a. Unlimited products, 1.7% fee on transactions, Instant theme engine, Basic customization, Paypal payments, Batch product editing, Your own domain, Credit card gateways, Discount code engine, Unlimited collections, Mobile ecommerce, Email capture, Part order fulfillments, Sales reports, SEO Optimized, Facebook sharing. 2. Dashboard a. Displays company’s Performance as well as recent orders 3. Orders a. Able to review the order i. Customer ii. Order number iii. Order date iv. Customer v. Order Status vi. Order total b. Able to print invoice after order is complete 4. Collections a. Organize inventory into categories 5. Lookbook/galleries a. Capability to add these to page
  9. 9. 9 Appendix B- Customer Feedback Software 1. Client Heartbeat a. Capability i. Uses rating based questions and only allows 6 questions per survey ii. Boasts a 60% response rate due to quick and easy to take surveys iii. Set a schedule that sends surveys automatically (once every three months, twice a year, etc.) iv. Allows user to track individual customer feedback or view trends as a whole v. Share data with employees so everyone is working towards the same goal vi. Collects testimonial data that can be used on social media and website b. Pricing i. Basic Plan 1. $29 per month 2. unlimited surveys 3. one user 4. 50 customers on the survey list ii. Gold Plan 1. $59 per month 2. unlimited surveys 3. up to 5 users 4. 500 customers on the survey list 5. Sync contacts from other customer relationship software (CRM) 6. Personalized branding on surveys instead of “Client Heartbeat” branding 2. Floq a. Capability i. Extensive customization of survey options and formats ii. Offers suggestions on the best ways to word questions for higher response rates iii. Send survey through various mediums - email, internet link given to customers, embedded link on a website, or a pop up box on your website. iv. Responses are recorded in real time v. Individual responses are available as well as anonymous responses - anonymous responses promote higher response rates vi. Extensive analysis with filters that make understanding the data easier vii. Benchmarking capability allows you to see how your performance stacks up against competitors viii. Quizzes are smartphone friendly which fits well into your target market of college-aged girls
  10. 10. 10 b. Pricing i. Basic Plan 1. Free 2. 1 user 3. 2 surveys per month 4. 20 questions per survey 5. 100 responses per survey 6. branded as a Floq survey ii. Professional 1. $19 per month 2. unlimited surveys 3. unlimited questions 4. unlimited responses 5. Customize survey with your personal brand or logo 6. Offers benchmarking data so you can see how your company progresses 3. Survey Monkey a. Capability i. Easy to use on social media and smartphones ii. Offers “Skip Logic” which takes the customer to a different question based on the answer of the previous question - this pinpoints the specific point where a customer’s experience may have gone wrong iii. Multiple graphing a chart capabilities - aesthetically pleasing and easy to read iv. Multiple types of question formats from long answer to rating and scale based v. Offers great customer support and templates, guides, and tips on ways to formulate surveys for the best and most informative results b. Pricing i. Basic 1. free 2. 10 questions 3. 100 responses 4. Branded as a Survey Monkey survey 5. Very little data analysis functions ii. Select 1. $26 per month 2. unlimited questions 3. 1000 responses 4. personalized branding and logo
  11. 11. 11 5. Multiple, but basic data analysis tools
  12. 12. 12 Appendix C- Customer Gift Registry Software 1. Registry Valet a. Customers can use this online, in store, or on their phone b. The site is customizable so you can make it just for French Vill’Edge c. Easy to add, edit and delete options from the site so consumers do not have products on their wish list that no longer exist in the store d. It is easy to setup and can be offered to customers to set up as they are checking out e. It is easy to setup and can be offered to customers to set up as they are checking out f. All plans come with a free and unlimited testing time, but you can only create 10 registries during this time g. Three ways to use the Registry Valet i. The Direct Way 1. Low cost alternative 2. First, post a link to your website that allow customers to access the Create a Registry Page, then to the Find a Registry page, and then from there to the Registry Sign in page 3. Then use a code generator to make the “Add to Registry” forms 4. Finally customize the registry page to look exactly how you want it to ii. The Plug-In Way 1. The easiest way to setup up your wish list 2. Combine Registry Valet with their CustomCart shopping cart system and connect your website to the gift registry software 3. This gives you a complete commerce solution you can add with ease 4. If you do not want to add online buying capability you can just use the catalog portion, which is a lower cost iii. The API or Application Programming Interface way 1. This allows you to use the Registry Valet platform to build your own gift registry 2. This option can be a little more difficult to maneuver and involves a lot more of a technology based involvement and setup h. Pricing Plans i. Starter Pack 1. Free 2. Includes: registries and wish lists, complete design flexibility, it has a limitation of 10 items per wish list, the registries are saved for a year, mobile responsiveness, there is an option of self
  13. 13. 13 updating items, and there is an option of store management, custom cart, and language translation ii. Basic Pack 1. $29 a month 2. Includes: registries and wish lists, complete design flexibility, it has a limitation of 100 items per wish list, the registries are saved for a year, mobile responsiveness, there is an option of self updating items, there is an option of store management, custom cart, language translation, automatic upgrades, image gallery, and a custom subdomain URL iii. Professional Pack 1. $59 a month 2. Includes: registries and wish lists, complete design flexibility, it has a limitation of 300 items per wish list, the registries are saved for a year, mobile responsiveness, there is an option of self updating items, there is an option of store management, custom cart, language translation, automatic upgrades, image gallery, a custom subdomain UR, a custom form and data fields, an in store tablet app, a guestbook, and a data export feature. iv. Premium Plan 1. $99 a month 2. Includes: registries and wish lists, complete design flexibility, it has a limitation of 1000 items per wish list, the registries are saved for fives years, mobile responsiveness, there is an option of self updating items, there is an option of store management, custom cart, language translation, automatic upgrades, image gallery, a custom subdomain UR, a custom form and data fields, an in store tablet app, a guestbook, a data export feature, and a scanner app v. Enterprise Plan 1. $199 a month 2. Includes: registries and wish lists, complete design flexibility, it has unlimited items per wish list, the registries are saved for fives years, mobile responsiveness, there is an option of self updating items, there is an option of store management, custom cart, language translation, automatic upgrades, image gallery, a custom subdomain UR, a custom form and data fields, an in store tablet app, a guestbook, a data export feature, and a scanner app i. In our opinion the basic pack suits The French Vill’Edge best because it offers everything for your company to be successful without having to pay too much 2. My Registry
  14. 14. 14 a. Has no upfront costs b. Can work with any size company c. They claim to be a revenue generating system and promises to increase your sales and bring in new customers d. This system can be used on computers or tablets in the French Vill’Edge with no extra hardware required e. You can customize it to be branded as The French Vill’Edge gift registry f. Offers an analytics dashboard which allows you to track what your customers preferences are so you are able to track their buying patterns and product preferences i. Provides you with data so you can directly market to people through email, social media, and discount opportunities for products that they will personally be more interested in buying
  15. 15. 15 Appendix D- Survey Results 1. How often do you shop downtown? a. 7 students, or 13.46%, never shop downtown b. 22 students, or 42.30%, rarely shop downtown c. One student, or 1.92%, said that they shop downtown around one to three times a semester d. Four students, or 7.5%, said once they shop downtown every few months e. 12 students, or 23.07%, shop downtown a few times a month f. Three students, or 5.7%, shop downtown once a week g. Three students, or 5.7%, shop downtown twice a week. 2. Where do you shop? a. 20 of 52, or 38.46%, students say one of their top stores to shop at is Jack and Milly b. 19 of 52, or 36.54%, say that one of their top stores to shop at is French Vill’Edge. c. Five of 52, or 9.62%, say that one of their top stores to shop at On Cloud 9. 3. Which two criteria are most important to you when shopping? a. 19 students, or 36.54%, state that they find customer service to be the most important when shopping b. 33 students, or 63.46%, state that they find clothing selection to be most the important when shopping c. 47 students, or 90.38%, state that price is one of the most important when shopping 4. Have you ever shopped at French Vill'Edge? If so, rate your experience on a scale from 1-10 a. Two individuals state that their experience at French Vill’Edge would make them not go back b. Five students state that their experience at French Vill’Edge would make them a repeat customer. c. Weighted average among the total responses is 5.69 i. this suggests that more of the respondents were rather indifferent to their experience at French Vill’Edge ii. This 5.69% is who French Vill’Edge should target to ensure that they are repeat customers. 5. Are you male or female? a. 9 students that responded are male b. 43 students that responded are female

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