...Search Strategy We believe that Big Skinny should continue to advertise via sponsored search ads. Based upon the Cost per Click model presented to us in Exhibit 4 in the case study, the numbers show that they are able to generate a fair amount of revenue. If we evaluate the data within Big Skinny’s CPC model, we can determine the cost and revenue as follows - Cost = Impressions x CTR x CPC Cost = 42,986 x 4.8% x .54 Cost = $1,114.20 Revenue = Impressions x CTR x Conversion Rate x Revenue Per Conversion** Revenue = 42,986 x 4.8% x .05 x $20 Revenue = $2,063.40 ** The value of $20 for Revenue Per Conversion is being assumed for this exercise. For one, CEO Kiril Alexandrov is quoted as saying “for $20, your wallet will be that thin forever” in the case study. Additionally, after searching their website, the vast majority of wallets listed on their website are being sold for more than $20. Therefore, $20 is used as a bare minimum price for each wallet sold. Even with that in mind, you can see that the revenue is almost double that of the cost. Taking into consideration that a certain number of the wallet sales will most likely be more than $20, the revenue will be larger in reality. This proves that their sponsored search advertising campaign is generating revenue. With that said, we can’t confirm that it is profitable since we weren’t provided with cost of manufacturing and distributing the product. One keyword that Big Skinny might want to decrease their bid...
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...imperative for us to formulate a solution that will in effect adjust our business objective and outlook to get big skinny to the world and not just have success via fairs and expo’s. Big Skinny’s success could be hanging in the balance if we don’t adjust and change our approach. The world is changing and customers are more technologically savvy and shop now at the comforts of their home, office, in traffic, the bus stop or passing time in a train or train station. I have called this meeting in an effort for you the staff and a few investors to observe what Big Skinny, was, is and will be to ensure comfort of customer, investors and literally, your pockets. Here before us are our Marketing/Advertising Manager Mrs. Petagaye Francis, our IT Manager Ms. Gracian Grant, our Warehouse and Distribution Manager Ms. Maxine Grant and our Finance Manager Ms. Sashelle Gooden. They will take you through the steps that we are about to take that will revolutionize Big Skinny to ensure longevity of the company and to show you our investors where will be in the next 3 – 5 years with the changes that we are about to implement. First, Marketing/advertising will tell you of the challenges that Big Skinny is faced with and what will be implemented to avert these challenges for the long-term good of Big Skinny. Then our IT Manager will tell you about the current conditions faced by Big Skinny in reaching the customers and what our plans for us to reach our customers easier with the click of a mouse...
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...slide | 2 | Executive Summary | 3 | Statement of the marketing challenge and evidence in support | 4++ | Analysis of current situation to include: * Market description for wallets overall and specifics of Big Skinny target market(s) * Competitive analysis of Big Skinny direct competitors, comparing on important features such as thinness, cost, depth of product mix, revenues etc. * Analysis of Big Skinny's website * Analysis of Big Skinny's prior online and offline (traditional) promotion efforts * Management considerations * Financial considerations | 5++ | Analysis of each of the 7 techniques discussed in the case study, including advantages and disadvantages of each specific to Big Skinny | 6++ | Recommended online media plan (must be compiled from some or all of those seven techniques outlined above). Recommendation should include at least three of the online tools, may have more if the case facts justify it | 7++ | Recommended offline (traditional) media to support online efforts to sell Big Skinny wallets | 8 | Management and financial challenges to implement your recommendations | 9 | Endnotes | 10 | Bibliography | 11 | Exhibits, if any | Case Study 3: Big Skinny Wallets Due: End of Week 6 Case Overview Big Skinny CEO Kiril Alexandrov is an expert at selling his company's product -- ultra thin wallets -- through in-person interactions and conventional media. He has been very successful based to a large extent on Kiril's...
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...Kiril is a CEO of Big Skinny – a wallet that can hold the same amount of “stuff” but it also looks and feels skinny. It doesn’t bulge out in the pocket, aesthetically pleasing and easy to handle. In the opening of this study, we are introduced to the company through anecdotal account of how over 4000 wallets have been sold, but unfortunately no revenue was to speak of since there was a glitch, causing customers to buy the wallet for free. This is a case study on how Kiril took Big Skinny online. The product that sells itself. Kiril created a wallet that looks like a traditional wallet outside but inside it packs up to 40 credit cards and still comes less than an inch thick. The material used is is one of the thinnest but a very durable material on the market made out of microfibers. The wallet, called Big Skinny, did very well in physical locations in terms of sales. At first it was in trade-shows and then it sold at various festivals and locations. Soon Kiril started physical advertisement using traditional media such as print and billboards like advertisement. Big skinny was doing so well that customers became instant fans. Judging by the response from traditional advertising seemed to be working. So after Kiril decided to take Big Skinny online. The Case study goes on to dispense how Big Skinny had gone from offline to online. Taking big skinny online. Despite having online presence from the start using e-commerce online store, Kiril had a challenge on his hand with...
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...Facts ‘Big Skinny’ was launched successfully at street fair. Solved five key problems people have with their wallets. 1. Size - Reduce Wallet size by 50 to 75% 2. Weight - Under an ounce 3. Card Pocket Size - Extra wide pocket 4. Slipperiness of the Interior - Lined with rubber coating which keep gravity. 5. Lack of Versatility - water resistant and tough enough even for machine wash. Its price is only $20. The costumers are happy with the product. Try to achieving maximal growth with online marketing. Problems Choices of online marketing options: 1. Display Ads: - Internet’s closest equivalent to booth at street fairs - Internet users were conditioned against display ads for they are irrelevant and irritating most of the times. - Sold on pay-per impression, rather than genuine clicks. 2. Algorithmic Search: - No guarantee that the site would appear in response to particular search. - The search engine retained wide discretion about changing the ranking methods. 3. Sponsored Search: - Advertisers paid on per-click, when users clicked on the ads. - Listings were sorted mainly on highest bids and click-through rates. 4. Social Media: - They have their own fan base. - Installed an AddThis website applet. - Their fan can share Big Skinny’s site on by their own social media. - Free of charge. 5. Interactive Content: - Engage customers Kiril included several interactive components on its site. - Big Skinny also organized essay contests for its fans...
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...Question 1 The concept of integration of business information is important to business organizations as they manage and determine the best use of firm level information products as you view Reebok/Adidas how is this concept applied. Also how does Reebok/Adidas determine the importance of this approach? Detail your answer. Integration of business information is a combination of information from diverse sources with a variety of technical and business processes. It is constituted of steps such as discovery, selecting, monitoring and transforming of information from different sources. After being analyzed and processed by different departments like management, accounting and marketing, the information will be integrated and used to make specific decisions about products. Effective information integration needs collaboration between business and IT to strengthen communication and get up-to-date data from various sources. It emphasizes the speed and simplicity of information, but not correctness or tractability. As for Reebok, before 1991, there was no global information system to get data, and communication mainly depends on telephone and fax. They brought the less up-to-date information as well as slow turnaround products, which caused a critical problem especially for such a fashion-oriented business. Gradually the importance of business information integration was recognized, which determined that a re-engineering should be carried out for the best use of firm level information...
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...Sales Process Improvement of Baria Planning Solutions, Inc. J. Brower, E. Johnson, S. Shivaprakash, C. Vergis University of Central Oklahoma Managing Business Processes with Information Technology Table of Contents Executive Summary 3 Overview 4 Critical Issues and Alternatives 4 Critical Issue 1 – Lack of Optimization of Employee Utilization 4 Alternative 1 – Cross training within most over-utilized sectors 5 Alternative 2 – New personnel within all sectors 6 Alternative 3 – Cross-functional team 7 Recommendation 8 Critical Issue 2 – Structure of Sales Support Group 8 Alternative 1 – Organize Entire Sales Support Group into Industry-Specific Divisions 9 Alternative 2 – Organize Sales Support Group Based Solely on Geography 10 Recommendation 11 Action Steps 11 Appendices 13 Appendix 1.A 13 Appendix 1.B 13 Appendix 1.C 13 Appendix 1.D 14 Appendix 2.A 14 Appendix 2.B 15 Appendix 2.C 16 Executive Summary The goal of Baria Planning Solutions (BPS) is to increase the win rate of sales opportunities to generate profits for the company. As a result of customer feedback, BPS identified flaws within the company structure that resulted in poor performance with regard to new client attainment and existing client renewals, negatively impacting the company’s revenue in 2010. This was attributed to: 1. A lack of optimization of employee utilization. Available resources resulted in high-risk utilization and over-utilization across...
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...Online marketing a Big Help to Small and Medium Enterpreneurs In this modern – day age of life, new and advance technologies was born to make things easier in a fastest way. The existence of computers is one of the most important and useful technologies that we use nowadays. It is an electronic device which can be programmed to accept data (input), process into useful information (output), and store it (secondary device) for safe keeping and later reuse. The Internet is a global system of interconnected computer networks that use the standard Internet Protocol Suite (TCP/IP) to serve billions of users worldwide. It is a network of networks that consists of millions of private, public, academic, business, and government networks, of local to global scope, that are linked by a broad array of electronic and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents of the World Wide Web (WWW) and the infrastructure to support electronic mail. The internet has enabled or accelerated new forms of human interactions through instant messaging, internet forums and social networking. Since the internet has now become a primary tool for delivering of information; businesses of all sizes are using Online Marketing to increase awareness of their company’sproducts and services. In its simplest form, the term Online Marketing refers to using the power of internet advertising...
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...OGBONNAYA NDUKWE 107 VICARAGE ROAD, WOLVERHAMPTON WV2 1ET. TEL; 07778998904 EMAIL; ndisback2005@yahoo.com PERSONAL PROFILE; I am an experienced customer relation’s manger, have worked for 4 years as a customer relation’s manager. I am able to manage some customers within my jurisdiction with effective communication skills. Have also been in the administration decisions making because of my role as a manger also had the opportunity to gain administrative skills. SKILLS AND TRAINING; 2013: Teaching training and coaching 2013: Professional project manager course 2007: IT and Internet usage training Good communication skills Quality administrative skills Good with teamwork EMPLOYMENT HISTORY Customer relation manager, Jons Ndy Ltd, Abia State Nigeria (2010 - 2014) Achievements and duties; * Managed the customers and retained the old and also added new ones * Created room for customers checking * Developed the spirit of team work * Always make sure the customers are in the right track * Helped made sure the customers are not ripped off their benefits * Prompted the role of the managements Teacher, Ekiti State School Ekiti, Ekiti State Nigeria. 2013 – 2014 Achievements and duties * Promoted the role of seminar * Improved in the communication skills * Got teaching skills, can transfer what learnt to another teammate. * Able to control little number of people * Introduced weekly review Education ...
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...Wallets are small and often needs replacement, hence are natural impulse purchases often bought as gifts. Hence, Kiril started Big Skinny to offer the world’s thinnest wallets and to solve five key problems men/women have with their wallets. - Size: their nylon fabric material was 5-7 times thinner than traditional wallets - Weight: most weighted under an ounce, better for back and posture - Card Pocket Size: offered extra wide pockets - Slipperiness: wallet interiors were rubbery to reduce slipperiness - Lack of Versatility: water resistant wallets though enough for machine wash Kiril along with his marketing director and wife, Catherine Alexandrov was beginning to think about online marketing plans after overwhelming response to Big Skinny’s promotion glitch confirmed that consumers were ready to buy the product online. However, reaching consumers online was challenging due to high costs and other constraints. Taking Big Skinny Online Big Skinny had internet presence since outset, even after having their own website marketing on internet was a tough puzzle: products were sold on impulse and value primarily, attributes straightforward to showcase in person, however difficult on internet. The options were: - Display Ads: seemed as internet’s closest equivalent to booth at street fairs, their primary model. Although display ads provided rich graphic capabilities online, it has complications too. Internet users were conditioned against display...
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...Summary In 2010, Big Skinny CEO Kiril Alexandrov was looking to transcend from retail distribution and print advertising to the world of online marketing to achieve maximum growth. The retail sales pitch was an easy one, as Alexandrov focused on the value of the wallet and the impulsiveness of consumers (Benjamin & Kominers, 2012). Unfortunately, translating this type of sales pitch was much harder to do in the world of cyberspace. Big Skinny centered their online marketing efforts around display Ads, keyword searches, social media and relationships with online distributors and deep discounted sites such as Amazon and Groupon respectively. The expansion caused much hardship, as Big Skinny received negative feedback on the review website Yelp that stemmed from their Groupon experiment. They also faced a glitch in their online promotion that allowed 4,000 people to order free wallets from their online store. Big Skinny needs to refocus their online marketing strategy by getting rid of display Ads, refining keyword searches and severing ties with deep discounted sites. Big Skinny can create value for their product and manage their orders better by being more selective with who distributes their product and by keeping the price steady. A more seasonal approach surrounding keyword searches can create new revenue from those who are looking to make quick and impulsive purchases. Lastly, by being responsible for who distributes their products, Big Skinny can deliver their...
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...Tribune Business Build by Helping March 3, 2011 People who own businesses have to be resourceful to be successful. Some turn to helping non-profits to raise awareness of their products... ...Big Skinny, on the other hand, went at it in a BIG way, erecting a 21 foot by 10 foot wallet right in Harvard Square, Cambridge, MA. Guinness World Records quickly crowned it the World's Largest Wallet. Several not-for-profits benefitted from this unique fund-raising vehicle to remind holiday shoppers to help the poor and others in need. Day after day, representatives of these groups told about their worthy causes and collected donations. Each group had its own pocket in the giant wallet. "Our hope is that the big crimson wallet urges folks to open their wallets to help address the needs of the underserved community," says Alexandrov, who also arranged for the Big Skinny website to stream live videos from historic Harvard Square of all those who participated. Those groups served include the Jose Mateo Dance Theatre, Salvation Army, Pediatric Aids Treatment Solutions, Harvard Square Homeless Shelter, Old Cambridge Baptist Church, Solutions at Work, Earthen Vessels, Molecular Frontiers, Cycle Kids, Cambridge Arts Council and Medulla Thyroid Cancer Research at John Hopkins. The Big Skinny Wallet, conceived by Alexandrov, solves the top five wallet problems. It is made of ultra-thin nylon micro-fiber and its unique design results in a 50 percent reduction in size. www.macedonian...
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...Sponsored Search Strategy We believe that Big Skinny should continue to advertise via sponsored search ads. Based upon the Cost per Click model presented to us in Exhibit 4 in the case study, the numbers show that they are able to generate a fair amount of revenue. If we evaluate the data within Big Skinny’s CPC model, we can determine the cost and revenue as follows - Cost = Impressions x CTR x CPC Cost = 42,986 x 4.8% x .54 Cost = $1,114.20 Revenue = Impressions x CTR x Conversion Rate x Revenue Per Conversion** Revenue = 42,986 x 4.8% x .05 x $20 Revenue = $2,063.40 ** The value of $20 for Revenue Per Conversion is being assumed for this exercise. For one, CEO Kiril Alexandrov is quoted as saying “for $20, your wallet will be that thin forever” in the case study. Additionally, after searching their website, the vast majority of wallets listed on their website are being sold for more than $20. Therefore, $20 is used as a bare minimum price for each wallet sold. Even with that in mind, you can see that the revenue is almost double that of the cost. Taking into consideration that a certain number of the wallet sales will most likely be more than $20, the revenue will be larger in reality. This proves that their sponsored search advertising campaign is generating revenue. With that said, we can’t confirm that it is profitable since we weren’t provided...
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...Big Skinny is a company that manufactures wallets with brand Big Skinny. Big Skinny wallets are made from synthetic material unlike conventional wallets that are made from leather. These wallets are very light in weight and the have captured good market. Till now Big Skinny is selling wallets through trade fares and other physical outlets but Kiril, the CEO of Big Skinny, is contemplating the online medium to capture further market. Wallets: Wallets are generally preferred with lightweight and that can easily carry stuff like credit cards, cash and receipts along with other stuff. Thin wallets are considered better because it will always keep you safe from back pain and sciatica. Wallets are often in need of replacement and people buy them as impulse purchase or as gifts since it is not a costly item and also does not require much information processing. Big Skinny has just launched world’s thinnest wallet and got good response from the market during various trade fairs it participate in. The challenge is how to use online medium to build further sales and formulate an strategy for online retail and marketing. The key features of this wallet are:- 1. Size - Reduce Wallet size by 50 to 75% 2. Weight - Will weigh under an ounce. 3. Card Pocket size - Will feature extra wide pocket 4. Slipperiness of the interior - they are lined with rubber coating which Keep gravity. 5. Lack of versatility - They are water resistant and tough enough even for machine...
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...Kelsie Folden Extra credit For this extra credit I went to the circ for the radical beauty display. I loved it! It showed things from what we think are beautiful like in the media. For example how magazines computerize faces and hair and everything! When really behind famous peoples pictures it’s just normal acne wrinkled women like everyone else. This is so sad causing younger women to feel ugly, even not normal. They also had a section where people we naked and all shapes and sizes, but happy and proud. For example I love the picture of two naked woman one skinny, one larger. They were both so happy and smiling. They were both beautiful. I also saw a picture of an overweight woman with words all over here like stereotype words such as lazy, careless, passive, undisciplined, insecure, giving, ect. Then the skinny woman next to her also had words like superficial, confident, mean, vain, ambitious, ect.... my favorite picture that I thought nailed this whole display on the head was the one where a girl asks "which bit would you alter first?" (As she is standing in front of mirror naked asking her mom). Then the mother says "the culture." loved it just shows how we are brain washed into what beauty really is. Not only brain washed about that but also the last picture that intrigued me was a naked picture of a transsexual person. First thought was wow he looks so normal to me. Then I stopped myself and said wait Kelsie why isn’t he normal?! Made me feel bad and like I was brain...
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