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Table of Contents1. Innovation
2. Founders
3. Starting the Businessa) Porter’s Five Forces
4. Why is it Innovative?5. SWOT Analysis
6. The 5 P’s of Marketing
7. Marketing Strategy
8. Competition
9. Leadershipa) Adil’s Leadership Style
10. SLEPT Analysis
11. Prognosis for the Future
12. References
Innovation
• Holiday Rejects is Canada's first ever ugly Christmas sweater store.
• Operates during the holiday season.
• Has 6 retail stores/kiosks across Canada.
• It sells both vintage and new sweaters.
• Sweaters come from far and wide from multiple supplies.
Founders
Kyle Fitzgerald Adil Hooda Chris CheungJack Hsu
Starting the business
SKILLS
PERSONAL ATTRIBUTES
CUSTOMERS
KNOWLEDGE OF
COMPETITORS
MARKETING
RESOURCES
Knowledge of Competitors: Porter’s Five Forces
Barriers to Entry
Threat of Substitutions
Power of
Buyers
Power of
SuppliersCompetitive
Rivalry
Why is it Innovative?
“Innovation means breakaway
from established patterns.” (Mintzberg, 1983)
SWOT AnalysisSTRENGTHS WEAKNESSES
• First in Canada• Specific Time for Demand• Unique Product Purchased at Low Price• Good Quality Products Found No Where Else• Easy to Advertise
• Seasonal Business• Market Is Very Specialized• Prices Sometimes Drive Customers Away
OPPORTUNITIES THREATS
• Vertical Integration• Expansion Plans For More And Bigger Stores/Kiosks• Ugly Sweater Parties Are Becoming Very Common• Increase Promotions• Possibly Affiliation With National Ugly Sweater Day• Extend Idea To Other Holidays• Licensing The Idea• Being More Active On Social Media – Creating
Contests/Hashtags/Etc
• Market Might Die• Easy For Potential Competition To Enter The Market
The 5 P’s of Marketing
ProductVaried. Vintage. Unique (tacky designs) Very high quality. Different Sizes.Service is that you can try it on.
PricePricing technique: Price skimming. High priced because of niche market and demand can only be met by them.
PlaceKiosks in high traffic malls - specially during holiday season when everyone is out holiday shopping.
PromotionNo advertising. Word of mouth. They use the media and their “original” idea to get promotion.
PeopleThe owners are the employees so they really love the product and try to sell it.
Marketing Strategy
NICHE PLAYER
OUTSTANDING
SUCCESS
MARKET TRADER
COMMODITY
SUPPLIER
BROAD MARKET
FOCUSED MARKET
LOW PRICE HIGH PRICE
LOW DIFFERENTATION HIGH DIFFERENTATION
Competition
LeadershipDespite the owners calling it a partnership and the friends doing equal work - Adil Hooda seems to be “the plant” of the Holiday Rejects. He came up with the idea, put the group together and his direct approach with the Dragons on Dragon’s Den speaks volumes about his confidence in business and his ability as a leader.
Chris also exhibited leadership skills when he chose to step down from the company and let Jack take his place at the Holiday Rejects. Chris, who is a full time engineer, realized that the company could have more growth if he allowed someone with more availability to take over.
SLEPT AnalysisSocial
Social practices are what Holiday Rejects thrive off. The trend of ugly holiday sweaters is making a comeback and they are catching the wave of new customers with the innovative storefront/kiosk approach.
Legal Holiday Reject’s main legal focus is getting fully licensed as a brand.
Economical
Holiday sweaters could be considered a luxury item or an accessory. Thus Holiday Rejects would have to watch for economic trends and manage their funds accordingly. Since the business is still young, overspending in poor economic conditions could spell disaster.
PoliticalUnless radical changes are made to business policy on a federal level, politics will have little influence on Holiday Rejects
Technological
Technology will play an important role for Holiday Rejects as they strive to gain media exposure and brand recognition across the nation. The Holiday Rejects website could be upgraded for higher volumes of customers, increased participation in social media, there are many possibilities when it comes to the technological applications for Holiday Rejects.
Prognosis for the Future?
Introduction Growth Maturity Decline/Rebirth
Potential Outcome Desired Outcome
ReferencesEdey, N. (2015). Holiday Rejects get thumbs up. Cochrane Times. Retrieved 18 March 2015, from http://www.cochranetimes.com/2013/12/21/holiday-rejects-get-thumbs-upHooda, A. (2015).http://www.cbc.ca/dragonsden/pitches/holiday-rejects. (2015).Nowthatsugly.com,. (2015). Cities across the Lower Mainland Proclaim Ugly Christmas Sweater Day! | Now That's Ugly. Retrieved 18 March 2015, from http://nowthatsugly.com/cities-across-the-lower-mainland-proclaim-ugly-christmas-sweater-day/Tajouri, Z. (2015). Ho-ho-holy moley, is that sweater tacky, or what? | The Press. Saitjournalism.ca. Retrieved 18 March 2015, from http://saitjournalism.ca/thepress/2013/12/03/ho-ho-holy-moley-is-that-sweater-tacky-or-what/Ugly Christmas Sweaters | Holiday Rejects,. (2015). Ugly Christmas Sweaters Canada | Find a Store Near You. Retrieved 18 March 2015, from https://www.holidayrejects.ca/