Course Written Project

Course Written Project

By: Morgan Baldwin, Kevin Burdiek, Jennifer Cox,

Dier Liu and Maia Ashley Eusebio

BackgroundFounder -Grace Brown Mitchell

Launching an online clothing store

Venture Creation

Idea Action

Started in 2011

Small Business Award from Topeka Chamber of Commerce.

SWOT AnalysisStrengthLow cost. Easily accessible. Uniqueness of the goods. Fashionable styling. Physical location.

WeaknessHigh priced. Low brand awareness. Lack of promotions. More physical location needed.

Opportunity Online clothing industries are rising sharply. Growing demand. Online and Offline marketing strategies.

ThreatsToo many competitors. Economic downturn.

Competitors Analysis Overviewshopgracieb.com

Strengths Weakness

Easier to select goods. Targeted marketing Unique products Highly involved in social media Great quality of products

Expensive Delivery Lack of chooses Lack of traditional marketing Lack of physical locations Less variety of styles Lack of immediate customer care, like online

chatting. Lack of customer ratings

urbanoutfitters.com

Strengths Weakness

More chooses of goods Famous designer Mass marketing Great brand awareness Various price ranges Many physical locations Faster and cheaper delivery Online chatting service

Consumer hard to find the product that they want, when there is too many choose.

Low quality in some of their products.

What can We Learn from Competitors Analysis?Customer Review

What can We Learn from Competitors Analysis?

Source: online at e-tailing website, 2013 Merchant Survey Results http://www.e-tailing.com/content/wp-content/uploads/2013/04/etaildetail_merchantsurvey2013.pdf

95% of consumer find product ratings are helpful in accessing the product

Urban Outfitter utilized YouTube very well

Grace B on the other hand did not incorporate YouTube a lot

Branding Personality

Brands Are Like People

Distinctive Image

Product Identity

Competitive Advantages

Identify what Gracie B does well

Distinctive Competency

Differential Benefit

Branding Strategies Visual Courtesy of Google

To be successful we must consider many different aspects of our branding strategy, to create a relationship with our consumers that will bring benefit to all whom are involved in a business transaction. Above are a few to keep in mind!

Awareness

Interest

Evaluation

Trial

Adoption

Confirmation

Marketing Objective

The objective is to make consumers on Washburn University’s campus aware of Gracie B’s collection and persuade them to adopt her style for all seasons of the year.

Adop

tion

Pyra

mid

Awareness• Airbods• Facebook• Washburn Review

Interest• Pinterest pin it to win it• Seasonal/Holiday sales• Free Shipping

Evaluation• Online ratings/reviews• Pictures present confidence in style

Trial• Fashion Show• Look Book• Sorority house visits

Adoption• The Hub• Shopgracieb.com

Confirmation• Compliments• Trending

Sales

Profits

In clothing retail stores like Gracie B, the product life cycle is never ending.

Identification of the Target Market

Target Marketing Process

Positioning

Targeting StrategyConcentrated Marketing Strategy

Marketing Tools and Strategies

Traditional Media

Newspaper (Washburn Review)

1,500 printed newspapers/week

Radio (AirBods)

Social Media

Twitter326 followers at the

beginning of the semester601 followers currently

185% Increase

Facebook

5,500 Total Facebook Members

400 likes at the beginning of the semester630 likes currently

167% Increase

Marketing Strategy Process