Date post: | 25-Jan-2017 |
Category: |
Documents |
Upload: | brooke-long |
View: | 82 times |
Download: | 0 times |
Perf Purse
Cierra Robinson
Carla Mordica
Jennifer Callaghan
Brooke Long
Greg Paquette
A versatile collection of timeless handbag styles to meet your needs from work to play - personalized your own way.
Product Overview and Description
Situational Analysis
Competitive Analysis
Marketing Strategies
Action Plan
Evaluative Criteria
Product Overview and Description• Digital platform
• Allows consumer to specify ideal hand bag
• Multiple-choice questionnaire
• Identifies features for the perfect hand bag
• 2 to 3 weeks Perf Purse designers produce visual
• Alert will be sent to the customer
• Send comments for modifications
• or place the order for their Perf Purse
• Initial deposit $50
Product Overview and Description• Mutually beneficial for consumer and producer
• In terms of manufacturing
• lower overhead - not unnecessarily duplicating designs
• only making purses once they have been ordered.
• High optimization popular styles
• Creates high value to consumer
• driving maximum satisfaction
• creating counter-culture around unique handbag
• Uncontested market space (Blue Ocean)
Product customization helps brands boost sales on their own websites or gain share on a retailer’s site.
Spaulding. Forbes 2014
Situational Analysis
PEST Analysis• Political/Legal
• Online business concerns; protect consumer’s privacy and personal
information
• Copyright infringements
• Minimum wages, full and part-time employees
• Mandatory federal/State laws (i.e. Affordable Healthcare Act,
etc.)
• Economy
• Consumer confidence increases as economy improves – can
decrease with little warning
• Cheaper resources (i.e. fuel, shipping, materials, etc.)
• Increase in wages/salaries
PEST Analysis – cont.• Social – Cultural Trends
• Women's accessories are universal
• Staying relevant and up with pop-cultural a huge challenge
• Must keep product fashionable and popular
• Technological
• Brand awareness in all digital spaces
• Advertise in traditional media where competitors and their
consumers reside
• WOM critical – social media driven consumer engagement
• Ecological
• Eco-friendly product made with eco-friendly resources
• Avoid animal and human rights issues often found within the apparel
industry
Competitive Analysis
Value Proposition Innovation, elegance,
style
Superior quality,
classical
Cutting edge,
contemporary
Audience Intellectual and creative
fashionistas
Modern, urban,
fashion-aware people
Smart, authentic
individuals
Range of Authority Various material goods Various high end
material goods (Python,
crocodile)
Leather goods
Relationship Self expression, superior
taste
Confident, stylish Achievement, career
success, heritage
Financial Situation
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
Quarter 1 Quarter 2 Quarter 3 Quarter 4
Year 1 Financial Situation
Revenue Expense
• Increase profit by $5,000+ each quarter
Budget ProposalMedium Cost
Materials & Supplies $100,000.00
Website
(Wix.com)
$300.00
($25/month)
Mobile Application
(Como.com)
$576.00
($48/month)
Social Media Ads
(Facebook, Twitter, Pintrest, Instagram)
$11,160.00
($930/month)
Print ads
Printshaq.com (20,000 flyers)
$500.00
Email list
Campaigner.com (25,000 contacts)
$150.00
Mailchimp.com (2,600 subscribers) $420.00
($35.00/month)
Total $113,106.00
*All figures are based on actual amounts from the distributor
Marketing Strategies
Product • The customer wants a unique designable purse that is
both functional and meets their aesthetic needs
• Primary incentive = CUSTOMIZABLE
• The customer will use this purse on many different
occasions, from day to day computes to work or a night
out on the town
• This purse is differentiated between the competitors
options because of the step-by-step design process the
customer will go through
Price
• Range from $75.00 to $300.00
• Depend upon the size of the bag, the style, the
texture chosen, etc.
• Compared to competitors, price range is lower
• Same value in terms of quality
Place• Operational online only
• Website:
• Informative
• Options offered
• Images of purses that were previously distributed
• Testimonials
• Other digital media will all link back to website for
ordering
Promotion • Primary promotion will be online
• Some other promotions consist of awareness in
magazines
• Vogue, Teen Vogue, and Cosmopolitan
• Seasonally based
• February – Valentines Day
• December – Christmas
• FREE SHIPPING
People
• Core to a company’s success
• Allowing the creativity to fall into the hands of the
customers
• Perf Purse makes the tools available for the customers to do just this
• Working hand-in-hand with the customer as there partner
creates a trusting relationship
Action Plan (Production) • Offer a fairly-priced product
• Comparable to high-end brands
• Maintaining the customer experience
• at the core of every effort
• Best manage practices
• intend maximum efficiency
• during the manufacturing process.
• Products made by appropriately skilled personnel upon order
Action Plan (Marketing)
• Social media/Print ads/Mobile App Ads
• Impressions and specials served to general public
• E-mails collected
• when customers make account to generate first purse
• Data pull maintained throughout the duration of the
intended promotional period leading up to, and
following the launch.
Evaluative Criteria
As a new company this will:
• Allow us to gain customer insight
• Track customer satisfaction
Evaluation methods:
• Surveys
• Focus groups
Evaluative Criteria (cont.)
Type of measurementAttitude component
Example questions
1. Overall Emotional“Overall, how satisfied are you with
your PerfPurse experience?”
2. LoyaltyAffective
“Would you recommend “PerfPurse” to your family and
friends?”
3. Attribute Cognitive “How satisfied are you with the
style and appearance of your PerfPurse product?”
4. Repurchase Intent Behavioral “Do you intend to use the
PerfPurse service within the next 90 days”?”
Summary
Product Overview and Description
Situational Analysis
Competitive Analysis
Marketing Strategies
Action Plan
Evaluative Criteria
THANK YOU!