David E. White Final Presentation

David E. WhiteFinal Presentation

1Yash Tolani, Max Lai, Adam Gillman, Kelly Jin, Grace Lu

freegoogleslidestemplates.comFGST

Agenda 2

Overview KPI’sConsumer

Buying Process

RecommendationsTimeline

Analysis

Conclusion

1 2 3 4

567


Overview 3

Goal: Leverage strengths to increase sales amongst young working professionals and students, leading to sustainable revenue growth

Capture consumers at all stages of buying process

Distinguish from

competitors

Target a new demographic

1 2 3

➔ Quality of product and service➔ High-visibility location➔ Customization to consumer

preferences➔ Employees believe strongly in their

product

Strengths

Weaknesses

➔ Ineffective direct sales techniques

➔ Online sales not correlating with growth in online market

➔ Low in-store traffic ➔ Little marketing expertise

Opportunities

➔ Direct sales increased 3-5% per year between 2013-2015

➔ Social media marketing will be 25% of marketing budgets in next 5 years

➔ Trend-based industry

➔ Lack of barriers to entry➔ 46% of marketers cannot quantify

impact of social media marketing➔ Brick and mortar sales decreased

by ~25% of sales in retail➔ Sensitive to economic downturns

Threats

SWOT Analysis


Competitor Analysis5

+Very strong campus presence

+Variety in services and price range

-Poor retail location- Poorly developed

online shop

+ Popular online presence

+ Lower prices + Many promotions

- Lower quality - Many consumer

complaints

Indochino

+ Much lower prices+ Website versatility

- Inconvenience

Knight and Grey

Eph Apparel


Key Performance Indicators 6

BrandIntegr

ity

E-Subscriber List

Campus

Reach

Online Presen

ceO-2-O Sales

Maintain premium brand image

Brand Integrity

Increase website traffic and social

media engagement by 20%

Online Presence Attract online

consumers to brick and mortar stores

O-2-O Sales

Increase brand recognition on

university campus through events

Campus ReachDouble e-mail subscribers and send out monthly updates

E-Subscriber List


- Not as price conscious- Tech-savvy- Limited opportunity: may

already have suits- Brand loyal

Consumer Analysis 7

Senior Professionals

Young working professionals

- Prefer email communication

- Approaching retirement - Limited purchase

opportunity

- Price conscious- 69% research online- Ask for peer feedback- Many opportunities for new

suits

Students


Consumer Analysis 8

Senior Professionals - Prefer email

communication- Approaching retirement - Limited purchase

opportunity

- Not as price conscious- Tech-savvy- Limited opportunity: may

already have suits- Brand loyal

Young working professionals

- Price conscious- 69% research online- Ask for peer feedback- Many opportunities for new

suits

Students


9

Consumer Buying ProcessProblem

Recognition

Post-Purchase Behavior

Purchase

Decision

Evaluation of

Alternatives

Information Search


10

Problem Recognition


Purchase Decision

Evaluation of Alternatives

Information Search

Spend average of $2000 on e-commerce

per year, more than any other age bracket

Residence formals Fraternity formalsFirm recruitment

Beginning of school year

Young Professionals Students

Consumer Buying

Process


11

Problem Recognition


Purchase Decision


Information Search

51% are impacted by reviews and fashion

blogs.Follow trends in

workplace.Prefer non-traditional

marketing.

Prefer non-traditional marketing.

Peer referrals to a brand instigates exploration.


Consumer Buying

Process


12

Problem Recognition


Purchase Decision


Information Search

56% of millennials convey that they have

little brand loyalty.Trend and quality

dependent.

PricePeer Opinions

Consider multiple options over time


Consumer Buying

Process


13

Problem Recognition


Purchase Decision


Information Search

Are 216% more likely to be influenced by in-store

touch screen displays. Attempt to relate to brand

identity.

Premium qualityReasonable price

Keeping brand in mind during contemplation process


Consumer Buying

Process


14

Problem Recognition


Purchase Decision


Information Search

Likely to look into other store' products

if satisfied.Return is based on

reception from peers.


Consumer Buying

Process

55% believe in voicing their opinion about a

product and the brand post-purchase

Recommendations

15

1.Young Professionals

16


17

Problem Recognition


Purchase Decision

Evaluation Alternatives

Information

Search

Spend average of $2000 on e-commerce

per year, more than any other age bracket

Young Professionals

Recommendations

Hold events that will add to their email list, directing

consumers to the website leading to Online or O2O

sales.


18

Problem Recognition


Purchase Decision


Information

Search

Recommendations

Prefer non-traditional marketing

51% are impacted by reviews

Young Professionals

Fashion Blogs

Fashion Blogs

Fashion Blogs

Incentive for Submitting

Online Review


19

Problem Recognition


Purchase Decision


Information

Search

Young Professionals

Recommendations

56% of millennials convey that they have

little brand loyalty.

Fashion Blogs

Competitive

Pricing


20

Problem Recognition


Purchase Decision


Information

Search

Are 216% more likely to be influenced by in-store

touch screen displays

Young Professionals

Recommendations

Fashion Blogs

Draw them in-

store


21

Problem Recognition


Purchase Decision


Information

Search

50% support CSR businesses and are likely

to report on their experience

Young Professionals

Recommendations

Fashion BlogsTrade-In

Program

Ensure customer satisfactio

nFashion Blogs

Fashion Blogs

Ensure consumer satisfactio

n post-purchase

2. Students

22


23

Problem Recognition


Purchase Decision


Information

Search

Recommendations

StudentsTiming of student

salesResidence formals Fraternity formalsFirm recruitment

Beginning of school year


24

Problem Recognition


Purchase Decision


Information

Search

Recommendations

Campus Ambassad

ors

Partnerships with Clubs

Sophs

Students

Online SearchPeer referral


25

Problem Recognition


Purchase Decision


Information

Search

Recommendations

Competitive

packagesStudents

QualityPrice

Peer Opinions


26

Problem Recognition


Purchase Decision


Information

Search

Recommendations

Credible Peer Referral

Stronger Brand Recognition

Presence on Social Media

Competitive Price

Students

Premium qualityReasonable priceBrand Recognition


27

Problem Recognition


Purchase Decision


Information

Search

Recommendations

Extended Special OffersStudents

Likely to look into other store products if

satisfied.


28Implementation Timeline

Design packages

Ambassador

Recruitments

Club partnersh

ips

Dec. 2016Jan. 2017

Jan. 2017

Establish Trade-In Program

Short-term: Students

May. 2017

Long-term: Young working professionals

March. 2017

Offer Packages

29

David. E White

Q & A

Documents

David E. White Final Presentation