Post on 15-Apr-2017
transcript
ALEXANDRE DUSSAULT, BROOKE GRAHAM, CAMILLA HERLIN, ALESSIA NICOLUSSI, ANNA PERCZEW, MARK SCHAEFER DICKERMAN, & ISABELLA SOTO
REENGINEERING
Agenda• Home Improvement Industry Overview
• Competition and Main Players
• Market Research
• Company Overview: The Current Situation
• Strategy I & II
• Marketing
• Final Recommendation & Implementation
INDUSTRY OVERVIEW
Industry Overview
(Source: Euromonitor International - Passport)
Industry Overview
OPPORTUNITIES THREATS• Capturing Millennials Market • Recovering Economy• New Medias
• Exchange Rate• Competitors
(Source: Euromonitor International - Passport)
COMPETITION AND MAIN PLAYERS
Price
Quality
Competitors - modernlamps.ca
Price
Quality
Competitors - modernlamps.ca
Competitors - Cuisine Montréal
Price
Quality
Competitors - Cuisine Montréal
Price
Quality
MARKET RESEARCH
Market Research• Profiling the Customer
(based on 50 surveyed individuals)
• 25-45 Years of age
• Women buying their first apartment
• Students
• Women with family
• Low-Medium Income
Market Research(continued)
• Trends, Findings & Conclusions(based on 50 surveyed individuals)
• Market wants lighting that is affordable, and has trendy design
• Majority of Market (75%) are renters
• In fact, 50% of dwellings in the GMA are rentals
• Market is increasingly becoming socially active (esp. on Social Networks)
• Prefer making purchase in-store rather than online
COMPANY OVERVIEWTHE CURRENT SITUATION
Company OverviewCurrent FinancesCurrent FinancesCurrent Finances
ModernLamps.ca
Current Finances
Rent
Current Finances
$3000/month
Current Finances
Insurance
Current Finances
$70/month
Current Finances
Marketing
Current Finances
$300/month
Current Finances
Utilities
Current Finances
$200/Month
Company Overview
STRENGTHS
• Affordable Prices• Manufacturing Cost
• Trendy Designs
WEAKNESSES• Location • Inventory (Availabilty)• Awareness • Limited Budget
Current FinancesCurrent FinancesCurrent FinancesModernLamps.ca
Current Finances
Rent
Current Finances
$3000/month
Current Finances
Insurance
Current Finances
$70/month
Current Finances
Marketing
Current Finances
$300/month
Current Finances
Utilities
Current Finances
$200/Month
Current Issues
Current Issues• Location
• Strategy I - Repositioning
• Strategy II - New Identity/New Location
Current Issues• Location
• Strategy I - Repositioning
• Strategy II - New Identity/New Location
• Awareness
• Social Media
• The National Home Show(Salon national de l’habitation)
STRATEGY I
STRATEGY IREPOSITIONING OF MORDERNLAMPS.COM
Strategy I
• Highlights
Strategy I
• Highlights
• Downsizing
Strategy I
• Highlights
• Downsizing
• New Positioning/Distribution Strategy
Strategy I
• Highlights
• Downsizing
• New Positioning/Distribution Strategy
• Increasing Reach/Market
Strategy I (continued)Repositioning mordernlamps.com
Current Distribution ArrangementManufacturer
(Retailer)
Strategy I (continued)Repositioning mordernlamps.com
Current Distribution Arrangement
New Distribution Arrangement
Manufacturer
ManufacturerRetailer
(Independent Decor Boutiques)
Distributor(w/ Storage)
(Retailer)
Strategy I (continued)Repositioning mordernlamps.com
Current Distribution Arrangement
New Distribution Arrangement
Manufacturer
ManufacturerRetailer
(Independent Decor Boutiques)
(Retailer)
Strategy I (continued)Repositioning mordernlamps.com
Current Distribution Arrangement
New Distribution Arrangement
Manufacturer
ManufacturerRetailer
(Independent Decor Boutiques)
(Retailer)
Online
Strategy I (continued)Repositioning mordernlamps.com
*estimated
modernlamps.CA modernlamps.COM Change
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
modernlamps.CA modernlamps.COM Change
Rent $3,000/month $315/month +$2,685
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
modernlamps.CA modernlamps.COM Change
Rent $3,000/month $315/month +$2,685
Insurance $70/month $10/month +$60
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
modernlamps.CA modernlamps.COM Change
Rent $3,000/month $315/month +$2,685
Insurance $70/month $10/month +$60
$300/month $1,500/month -$1,200
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
Marketing
modernlamps.CA modernlamps.COM Change
Rent $3,000/month $315/month +$2,685
Insurance $70/month $10/month +$60
$300/month $1,500/month -$1,200
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
Expenditure
modernlamps.CA modernlamps.COM Change
Rent $3,000/month $315/month +$2,685
Insurance $70/month $10/month +$60
$300/month $1,500/month -$1,200
Utilities $200/Month $100/month +$100
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
Expenditure
modernlamps.CA modernlamps.COM Change
Rent $3,000/month $315/month +$2,685
Insurance $70/month $10/month +$60
$300/month $1,500/month -$1,200
Utilities $200/Month $100/month +$100
Total $3,570/month $2,090/month +$1,735
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
Expenditure
*estimated
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
Strategy I (continued)Current Vs. Anticipated Finances*
*estimated
STRATEGY IIINTRODUCING THE
STRATEGY II
.HOUSE GROUPINTRODUCING THE
Strategy II• Highlights
Strategy II• Highlights
• New domain extension (.House), offers new and & unique opportunity
Strategy II• Highlights
• New domain extension (.House), offers new and & unique opportunity
• Combining both ModernLamps.House & ModernKitchen.House under the newly created .House Group
Strategy II• Highlights
• New domain extension (.House), offers new and & unique opportunity
• Combining both ModernLamps.House & ModernKitchen.House under the newly created .House Group
• Simplifies Image
Strategy II• Highlights
• New domain extension (.House), offers new and & unique opportunity
• Combining both ModernLamps.House & ModernKitchen.House under the newly created .House Group
• Simplifies Image
• Streamlines Operations
Strategy II• Highlights
• New domain extension (.House), offers new and & unique opportunity
• Combining both ModernLamps.House & ModernKitchen.House under the newly created .House Group
• Simplifies Image
• Streamlines Operations
• Opportunity for Growth (Eg. ModernBathroom.House)
Strategy II• Highlights
• New domain extension (.House), offers new and & unique opportunity
• Combining both ModernLamps.House & ModernKitchen.House under the newly created .House Group
• Simplifies Image
• Streamlines Operations
• Opportunity for Growth (Eg. ModernBathroom.House)
• New Location
Strategy II (continued)
Rate
Area
Pros
Cons
Walk Score®
438 rue St-Pierre
(Vieux-Port)
$1,500/month +Tax
(Excl.: Heating & Electricity)
1,275 sq.ft
• Location• Walking Traffic• Ambiance• Target Market
(tourists & high income)
100
Strategy II (continued)
Rate
Area
Pros
Cons
Walk Score®
438 rue St-Pierre
(Vieux-Port)
$1,500/month +Tax
(Excl.: Heating & Electricity)
1,275 sq.ft
• Location• Walking Traffic• Ambiance• Target Market
(tourists & high income)
100
4725 rue Sainte-Catherine E
(Hochelaga)
$1,600/month +Tax
(Excl.: Heating & Electricity)
1,855 sq.ft
• Target Market• Area (sq.ft)
• Location
83
Strategy II (continued)
Rate
Area
Pros
Cons
Walk Score®
438 rue St-Pierre
(Vieux-Port)
$1,500/month +Tax
(Excl.: Heating & Electricity)
1,275 sq.ft
• Location• Walking Traffic• Ambiance• Target Market
(tourists & high income)
100
4725 rue Sainte-Catherine E
(Hochelaga)
$1,600/month +Tax
(Excl.: Heating & Electricity)
1,855 sq.ft
• Target Market• Area (sq.ft)
• Location
83
1366 rue Ontario E (Ville Marie)
$1,800/month +Tax
(Excl.: Heating & Electricity)
1,689 sq.ft
• Walking Traffic• Nice Window Front
• May require extensive renovations
97
MARKETING
Social Media
Social Media• Keep the posts short (posts under 80 characters show 27 % more
"engagement")
Social Media• Keep the posts short (posts under 80 characters show 27 % more
"engagement")
• Avoid using capital letters
Social Media• Keep the posts short (posts under 80 characters show 27 % more
"engagement")
• Avoid using capital letters
• Best time to reach users: 8am, 12pm-1pm, and 5pm-11 pm
Social Media• Keep the posts short (posts under 80 characters show 27 % more
"engagement")
• Avoid using capital letters
• Best time to reach users: 8am, 12pm-1pm, and 5pm-11 pm
• Use questions in your posts (a question should always be positioned at the end of the post → results in 15 % higher engagement rate - When, where, would, why, how, which - “Which lamp do you prefer?”)
• Take advantage of different occasions by customizing posts For example: Mother’s Day -“Did you forget to buy something to your mother? This is the perfect gift..."
• Put the Facebook and Instagram Icon on the top of your webpage → more easily seen and clicked (Today the icon is in the bottom)
• Promote your Facebook page and Instagram account in-store (walls, packaging, business cards & doors) → creates awareness
Social Media
• Put the Facebook and Instagram Icon on the top of your webpage → more easily seen and clicked (Today the icon is in the bottom)
• Promote your Facebook page and Instagram account in-store (walls, packaging, business cards & doors) → creates awareness
Social Media
Example of an Instagram & Facebook Campaign
Social Media
Example of an Instagram & Facebook Campaign
→ Creates engagement, activity & WOM
Social Media
The National Home Show• March 6th - 15th, 2015
The National Home Show• March 6th - 15th, 2015
• 150,000 attendees (2014)
The National Home Show• March 6th - 15th, 2015
• 150,000 attendees (2014)
• Pricing Options (10x10):
• $27.50/sq.ft. ($2,750)
• $26/sq.ft. ($2,600)
• $15/sq.ft. ($1,500)
The National Home Show• March 6th - 15th, 2015
• 150,000 attendees (2014)
• Pricing Options (10x10):
• $27.50/sq.ft. ($2,750)
• $26/sq.ft. ($2,600)
• $15/sq.ft. ($1,500)
• 23% of attendees are seeking lighting products
The National Home Show• March 6th - 15th, 2015
• 150,000 attendees (2014)
• Pricing Options (10x10):
• $27.50/sq.ft. ($2,750)
• $26/sq.ft. ($2,600)
• $15/sq.ft. ($1,500)
• 23% of attendees are seeking lighting products
• 75% of attendees plan on purchasing a product from an exhibitor within the next 6 months
• Now taking registration!
FINAL RECOMMENDATION & IMPLEMENTATION
ImplementationDecision MatrixDecision Matrix
Strategy I (Repositioning)
Decision MatrixStrategy II
(New Identity)
Decision Matrix
Financial Risk
Decision Matrix
✔
Decision Matrix
✗
Decision Matrix
Cost of Implementation
Decision Matrix
✔
Decision Matrix
✗
Decision Matrix
Ease of Implementation
Decision Matrix
✗
Decision Matrix
✔
Decision Matrix
Time Needed for Implementation
Decision Matrix
✗
Decision Matrix
✔
Decision Matrix
Possibility for Growth
Decision Matrix
✗
Decision Matrix
✔
Implementation - Strategy II
~3 Months
Implementation - Strategy IICreation
of the .House
Group
1 Month
Implementation - Strategy IICreation
of the .House
Group
1 Month1 Month
Retrofit New
Location
1 Month
Preparation & Moving to
New Location
“The secret of change is to focus all of your energy, not fighting the old, but on building the new.”
-Socrates