...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 ads for they are irrelevant...
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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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...| Title 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...
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...Case Study Big Skinny Wallet Name: Institutional Affiliation: Table of Contents Contents Executive Summary 3 Case Study Big Skinny Wallet 4 2. A Summary of an Environmental Appraisal Analysis for Big Skinny in UK 5 Rationale for Marketing Big Skinny Wallet 5 2.1 Macro Environment 6 2.1.1 PESTEL analysis 6 2.1.1.1Political 6 2.1.1.2 Economic Analysis 6 2.1.1.3 Social-Cultural 8 2.1.1.4 Technology 8 2.1.1.5 Demographic 9 2.1.1.6 Legal Environment 9 3.0 Micro Environment 10 3.1 Customers` Profile 10 4.0 Market Segmentation and Target markets 11 4.1 Market Overview 11 4.2 Target Market I: for Big Skinny Company in the U.K 12 4.2.1 Long-established Online Retailers and Suppliers 12 4.2.2Target Market I: Positioning of merchandise 13 4.3 Marketing Mix for Big Skinny in long-established Online Retailers and Suppliers 14 4.3.1 Marketing Objectives 14 Product 15 Price 16 Place 18 Promotion 18 4.4 Target Market II: All-out Social Media Campaign 19 4.4.1 Marketing Mix Target Market II: for All-out Social Media Campaign at Big Skinny 20 Product 20 Price 21 Place 21 Promotion 21 5.0 Three year marketing plan…………………...…………………………………………………………………………………………………..23 6.0 Recommendations 23 References 25 Executive Summary Big Skinny is a company that produces the world`s thinnest wallet. As such this paper regards the environmental appraisal of Big Skinny Company and its entry in the UK market. For the environmental...
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...Strategies Online? Another nagging question I’ve had was whether or not replicating offline strategies online is really the way to succeed. Marketing 101 would teach us that have a singular consistent strategy is preferable since you want to present a singular product to your consumer. But given how different offline and online consumers are, both in terms of how they digest information and how they make decisions, could a different online strategy yield better results? Let’s use the case on Big Skinny as an example. This thin wallet company primarily focuses on the “impulse shopper”, who is wowed by a salesperson at a street fair. Even though this strategy has proven highly successful offline, is this necessarily the marketing plan we want to recreate offline? Wowing the customer online can be very difficult since many online consumers have learned to either ignore or temper down showy advertising. Instead, could Big Skinny simply proliferate its products on large online retailers like Amazon and try to compete as a purchase alternative to a rational wallet buyer who is seeking to compare several wallets in his/her decision making process? I’m aware that this hypothesis can be confirmed with A/B testing but are there frameworks or historical references we can use to better understand what makes replicating offline marketing online more or less successful? Big Skinny ------------------------------------------------- Case study analysis : Online Marketing at Big...
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...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 marketing and...
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...Online Marketing at Big Skinny Case Study Bob Monroe 70-451 MIS September 10, 2013 Carnegie Mellon University ©2012 - 2013 Robert T. Monroe 70-451 Management Information Systems Image courtesy Benjamin Edelman and Scott Duke Kominers [EK12] Carnegie Mellon University ©2012 - 2013 Robert T. Monroe 70-451 Management Information Systems Carnegie Mellon University ©2012 - 2013 Robert T. Monroe Mock-up courtesy Benjamin Edelman and Scott Duke Kominers 70-451 Management Information Systems Carnegie Mellon University ©2012 - 2013 Robert T. Monroe 70-451 Management Information Systems Mock-up co Benjamin Ede Scott Duke K [EK12 Mock-up courtesy Benjamin Edelman and Scott Duke Kominers Carnegie Mellon University ©2012 - 2013 Robert T. Monroe 70-451 Management Information Systems “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” Attributed to John Wanamaker US department store merchant (1838 - 1922) Carnegie Mellon University ©2012 - 2013 Robert T. Monroe 70-451 Management Information Systems Sponsored Search Terms Vary Greatly In Cost and Effectiveness Keyword Clicks Impressions CTR Avg. CPC Total Cost Avg. Pos. Conv. Cost per-‐ Conv. Conv. Rate thin wallets leather wallet "thin wallet" "big ...
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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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...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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...magazines but also in some clothing lines. A clothing line that I have in mind is Abercrombie and Fitch (A&F); Mike Jeffries, CEO of Abercrombie and Fitch said, “In every school there are the cool and popular kids, and then there are the not-so-cool kids. Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely, those companies that are in trouble are trying to target everybody: young, old, fat, skinny. But then you become totally vanilla. You don’t alienate anybody, but you don’t excite anybody, either.” Basically what Mike Jeffries is saying is that he...
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...Harvard University Extension School Management E-5475 – Strategic Management of Growth Companies Course Syllabus – Spring 2012 November 25, 2011 Course Logistics Day and Time: Tuesday, 7:35-9:35pm Location: Byerly Hall 013 Course iSite: http://isites.harvard.edu/course/ext-23550/2012/spring Instructor: Dave Power 617.694.2472 President, Power Strategy dave@powerstrategy.com Office Hours: Before class and by appointment ------------------------------------------------- About the Course Course Description and Overview Growth companies are the engines of product innovation, market expansion and value creation. But sustaining the growth of these dynamic private companies -- typically with revenues of $10 to $100 million -- requires a unique set of skills, different from those required in either startups or large public companies. Many promising growth companies stall as their business models mature and they outgrow the processes and teams responsible for their early success. Using a mix of case studies, group discussions, interactive exercises and written assignments, this course provides a general management perspective of growth companies: strategy, execution, team, and capital. You first learn different growth strategies, including market disruption, “white space” discovery, and business model innovation. You then connect strategy with execution through market selection and positioning...
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...Levi’s Category: Apparel and accessories Sector: Lifestyle and Retail Positioning: Outgoing and stylish quality jeans The Levi’s® brand epitomizes classic American style and effortless cool. Since the invention and patent of riveted clothing by Jacob Davis and company founder Levi Strauss in 1873, Levi’s® jeans have become the most recognizable and imitated clothing in the world — capturing the imagination and loyalty of people for generations. And while the patent has long since expired, the Levi’s® brand portfolio continues to evolve through a relentless pioneering and innovative spirit that is unparalleled in the apparel industry. Created in 1873, Levi's® jeans are the original, authentic jeans. They are the most successful, widely recognized and often imitated clothing products in the history of apparel. Over successive generations, Levi's® jeans have captured the attention, imagination and loyalty of diverse individuals. As the inventor of the category, the Levi's® brand continues to define jeanswear with the widest range of products available, from quintessential classics such as the famous Levi's® 501® Original jean, to favorite fits and styles in the Red Tab™ and premium collections. Our range of leading jeanswear and accessories are available in more than 110 countries, allowing individuals around the world to express their personal style. Mission: We will market the most appealing and widely worn casual clothing in the world. We will clothe the world...
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...Body shaming women is not a new concept, but it is becoming even more prevalent today since companies promote shame and anxiety as innovative marketing strategies. Dieting companies have determined that telling women they need to appear a certain way is highly effective and successfully results in them investing in their product. The ideal body shape that Protein World endorses consists of a very slender body that looks appealing in a bikini. When they ask the simple question “Are you beach body ready?” Protein World instantly captures the attention of women who do not have a slender frame or at least not as slim as the depicted model’s. Countless women tend to feel especially uneasy about their weight and figure as the weather begins to warm up, which is why dieting companies release a huge surplus of summer body related dieting commodities. Protein World takes advantage of this situation...
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...Marketing the Weight Loss Industry Carrie Ridner Instructor: Vicki Long BUS 330: Principles of Marketing August 27, 2012 Abstract America is getting fatter with each passing year and the weight loss industry is cashing in on the desire to be skinny. Have you ever dieted, exercised your heart out only to feel like there were not enough results for your effort? Many companies marketing weight loss products love to have famous people endorsing their products. People can relate to Tommy Lasorda and very much want to "lose the weight and feel great." The marketing process involves the following steps: understanding consumers; creating customer values; building strong customer relationships; creating marketing strategy; and capturing the value from customers (Kotler & Armstrong, 2011). Marketing and advertising professionals have tapped in to the ever expanding market of people searching for something to aid in their weight loss efforts. Actors and actresses are abundant in the marketing of weight loss, with their thin, toned bodies. Images of healthy, beautiful people fill television screens bragging to the viewers how they shed the pounds on this product or that diet program. As people continue to struggle with obesity, an ever growing epidemic, they will look for the “quick fix” and marketing of weight loss programs and diet aids will grow at a rapid pace. There are some ethical, legal, and social issues that advertisers should recognize when marketing...
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...PROJECT: AMERICAN APPAREL Marketing Strategy AMERICAN APPAREL Abstract American Apparel has been experiencing a declining trend since 2008. My aim is to identify the reasons why this has been, and continue, to happen. Even if the world financial crisis had an important role at the end of the day, there surely are other actual and potential threats the company has overlooked: for example, right 2 days before the beginning of the decline the CFO resigned; they didn't properly manage internal control especially regarding the financial closing; they cut the advertising budget during 2009; they have been opening stores without considering cannibalization. While trying to describe the mistakes American Apparel did during the last 6 years, an evaluation of its recovery marketing plan to put the company back on the right track will be made. Company's Strategy American Apparel (from now on APP) is a clothing manufacturing, wholesaling and retailing company headquartered in Los Angeles, founded in 1988 by Dov Charney, who is still its CEO and Chairman of the Board of Directors. During the late 80's and the 90's, when the identity of APP was being modeled, Charney was living his life between Canada, South Carolina and California and that deeply influenced the company: while driven by the initial intention to bring affordable American t-shirt to Montreal people, APP slowly developed interests in fashion to please the young in Los Angeles, yet maintaining...
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