Elfa Ólafsdóttir

Faye Wellman

Olivia Long

Mel Zianne Teo

WHAT IS 66°NORTH?

● Iceland’s oldest manufacturing companyo “Keeping Iceland warm since 1926”

● Focuses on high tech, high quality

outerwear

Internal Analysis

Product Strengths Product Weaknesses

● Long and rich history

● Highly experienced in

manufacturing quality outerwear

● Exclusive use of high tech fabrics

● Well respected brand

● Fashionable

● Preferred by Gen Y

● Manufacturing in another country

● Pricing compared to alternatives

● Higher shipping costs in

comparison to other regional

competitors

● Lack of brand awareness

External Analysis

Market Opportunities Market Threats

● Growing market

● Rapid growth in the outerwear

industry among young adults

● Growing demand for high quality

outerwear

● Consumers’ desires to interconnect

fashion with warmth and

durability

● Higher disposable income of

consumers

● Long and cold winter in Boston

● Full of outdoor and sports

enthusiasts in Boston

● City of Boston’s strict regulatory

system

● Brand loyalty to regional/local

competitors

● Swamped outerwear market; too

much competition

SWOTANALYSIS

OPPORTUNITIES&THREATS

OPPORTUNITIES THREATS

Distribution channels through premium

department stores

High competition

Build online presence and store tailored

for US consumers

Viewed as unoriginal

Purchase intention could be high if target

audience was reached. Many Boston

consumers have a high disposable

income.

Pricing: products are similar and higher

priced in comparison to already established

brands with lower prices

MARKETINGPROBLEMS

● Low awareness of 66°NORTH

● High competition from The North Face

● Pricing

RESEARCHOBJECTIVES

● General o To assess the overall marketability and potential success of

introducing 66°NORTH to the Boston market

● Specifico Examine buying motivations

o Study the purchase behavior of consumers

o Determine consumers spending habits

o Investigate outerwear attributes

o Assess purchase intention of 66°NORTH

o Asses the degree of brand awareness of 66°NORTH

o Investigate likes and dislikes of 66°NORTH

o Evaluate 66°NORTH’s key attributes

FGIMETHOD● 8 participants

o 3 males and 5 females

o Age: Early to mid 20s

o 7 Students and 1 working professional.

● Key measureso Brand perception

o Purchase intention

o Product attributes

● Procedureso Showing of concept board and TV ads.

SURVEYMETHOD

● Data collection method: face to face, around

Emerson College, Back Bay, and Somerville

● Sampling methods and sampleso Non-probability sampling with convenience samples

o 100 respondents aged 18 years or older

56 females, 44 males

(63) 18-24 (23) 25-34 (14) 35 and over

SURVEYMETHOD

● Key measures o shopping frequency, brand preference, brand

attributes, spending habits, likelihood of trying a

new brand, overall evaluation of 66°NORTH, likes

and dislikes of 66°NORTH, evaluation of

66°NORTH attributes, purchase intention, amount

willing to spend, location, ways of communication,

preferred promotions, opinion of brand name

SURVEYMETHOD

● Data Analysis: SPSS o frequency, crosstabs, ANOVA, and T-test

● Action Standard: Higho Top 2 Box 60%, Mean Score 3.50

o 66°NORTH overall evaluation: Top 2 Box 72%,

Mean Score 3.78

FGIRESULTS (before concept board)

● Desired qualities and

concerns about outerwear:

o Warmth

o Water resistance

o Style

o Durability

FGIRESULTS

● Overall evaluation of 66°NORTH

POSITIVE NEGATIVE

● Quality products

● Country of origin

● Product diversity

● Brand name

● Price

● Limited brand awareness

Fashionable

FGIRESULTS

● Purchase intention

o Low

● Ideal location

o Newbury

o Prudential Center

o Copley Square

o REI

o The Tannery

FGIRESULTS

● Target market

o High disposable income

o “Outdoorsy”

● Recommendations

o Lower prices

o Small changes in tagline

o Raise brand awareness

Experience marketing

Nr 1 brand in Iceland

● Important Factors When Purchasing Outerwear

Gender Age

Total Female Male 18-24 25-34 35+

Important Factors

Price 2.66 2.76 2.53 2.84 2.43 2.23

Quality 2.15 2.06 2.29 2.14 2.24 2.08

Comfort 2.65 2.76 2.50 2.67 2.57 2.69

Fashion style 3.59 3.07 4.32 3.43 3.71 4.08

Purchasing convenience 4.91 5.00 4.79 4.74 5.38 4.92

High-tech fabric 4.97 5.26 4.55 5.16 4.43 5.00

SURVEYRESULTS (pre-concept)

Gender Age

Total Female Male 18-24 25-34 35+

Price (Accessories)

$10-$29 34 35 34 37 30 29

Price (Jackets)

$50-$99 32 27 39 36 30 21

Price (Parkas)

$100-$199 35 44 25 42 26 21

● Amount Willing to Spend on Outerwear

SURVEYRESULTS

SURVEYRESULTSGender Age

Total Female Male 18-24 25-34 35+

Likelihood of Trying

New Brand

Very unlikely 8 5 11 10 9 0

Unlikely 9 13 5 11 0 14

Neutral 42 38 48 41 48 36

Likely 24 29 18 22 26 29

Very likely 17 16 18 16 17 21

Total 100 100 100 100 100 100

Top 2 Box % [41] [45] [36] [38] [43] [50]

Mean scores 3.33 3.38 3.27 3.24 3.43 3.57

● Likelihood of Trying

a New Brand

SURVEYRESULTS

● Brand awareness

AFTER CONCEPT BOARD

● Overall

Evaluation

OVERALLEVALUATION &

PURCHASEINTENTION

Total

Female Male

PERCEPTION OF 66°NORTH

LIKES VS. DISLIKES

● Most common “likes”:o Fashionable (25%)

o High Quality (19%)

o Durability (14%)

● Most common “dislikes”:o Not fashionable (20%)

o Price (13%)

o Unoriginal (9%)

LOCATION EXPECTED TO FIND 66°NORTH

MOST EFFECTIVE WAY TO COMMUNICATE

INCENTIVES TO BUY 66°NORTH

CONCLUSION: OVERALL MARKETABILITY

● 66°NORTH Brand Acceptance● Positive for overall evaluation:

o Top 2 Box 72%, Mean Score 3.78

● Negative for purchase intention

o Top 2 Box 32%, Mean Score 3.20

● Primary Target:● Older market segment with higher level of disposable income

● Recommendation:o Enter Boston market

POSITIONING&4PS

Positioning: Quality products, high tech

fabric, and Icelandic roots

● Product concept: Emphasis on quality and warmth

● Place: Newbury Street (distribution channels)

● Price: Penetration strategy; keep prices to maintain

premium status

● Promotion: Celebrity endorsers, fashion shows,

sponsorship of winter events

FUTURERESEARCHDIRECTION

● Larger and more diverse sampling pool

● Physical samples of the products when surveying

● More access to internal company data, both

66°NORTH and competitors

THANKYOU