Situational Analysis As with many businesses that are born from the entrepreneur 's necessity to respond to a personal need, Big Skinny has the problem of identifying its target market and an effective way to connect with it. Past customers have been individuals inclined to a healthier lifestyle, who enthusiastically embraced the idea of a thinner and lighter wallet. Studies have shown that heavier wallets can in fact lead to back problems and sciatica. Another key feature of Big Skinny was its nylon microfiber constitution, which made it durable and water-resistant. More recent designs have accommodated the needs of more stylish customers, adopting leather exteriors and making the company versatile (see Exhibit 2). The company has …show more content…
An online website was launched, but failed to function properly: customers ordered 4000 wallets for free with invalid coupons, and the company now finds itself wondering whether to cancel them. Search keywords and bids were bought to gain visibility on search engines, but almost half of them have not generated profit. A discussion on Big Skinny was stimulated on social media through the use of AddThis applets. The company had furthermore established a presence on global, trusted online retail portals: Amazon, Buy.com and eBay. Finally, A/B testing was conducted, also leading to an increase in visibility. The New Online Marketing Strategy We believe that the company should restructure its online marketing strategy, by a) building a strong identity on social media; b) turning existing customers into brand advocates; c) designing a better website and d) streamlining paid inclusion. Building a strong identity on social media Big Skinny 's main market is the United States, the country in which the company is based. Tracking surveys by the Pew Research Center in Washington D.C. show that, as of 2010, about 63% of Americans over 18 use a social network. The figure rises to a staggering 85% for users between the age 18 and 29, the segment made up of people that buy a wallet for the first time, for themselves or as a gift, and have a big potential to become loyal customers. The population 's presence on social networks is forecasted to rise significantly (See Exhibit
Organizational performance is a result of business interaction with its internal and external environment (Houben, Lenie & Vanhoof, 1999). There are a variety of internal and external forces that either stimulate or compromise the organization's performance in achieving objectives or goals (Houben, et al., 1999). An analysis can identify and evaluate areas within or outside of the organizations to provide information for leadership. The analysis can be done by internal personnel or external experts. Experts are often used to identify, monitor, forecast and assess environment trends (Swayne, Duncan & Ginther, 2008). Often the SWOT analysis is used to review internal and external areas in the four components; strengths, weakness,
The common public goal of the marketing discourse is to attract attention from targeted audiences, in other words make the consumer buy, buy, and buy. In order to achieve these goals I have to execute different marketing strategies with the help of the staff and company executives. Together we brainstorm different marketing trends, design different kinds of ads; analyze social media for more effective ways of advertising and calculate risks based on customer insight. When all is done right the end goal will result an increase of sales revenue for the company, which will sharpen its image and name.
Strengths Finder 2.0 identifies my top five strengths are adaptability, restorative, individualization, communication and strategic. I must use these strengths every day in my job and my home life. These strengths are apparent in all areas of my life both at work and home.
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
Headland Middle School is a Title I school located in Headland, Alabama. Headland is a small community located in Henry County, Alabama. We have 585 students in grades 6-8. We have about 49% of our students to receive free or reduced lunch. We have a diverse student population (African-American 35%, Hispanic 8%, White 55%, Multiracial 2%), which is make up of our community.
4. How would you use Dell’s social media experience to rebrand the company, as Michael Dell wants to do?
They apply both digital and non-digital approaches to best reach their customers as well as attract potential customers. With every new advancement of social media and technology, the company follows behind to stay in trend with their target
Out of the platforms we have studied so far, my blog is definitely my strength. I have a Tumblr. Although I post something every day and have activity from my followers, I could post more original content. All the other subjects need much more attention and commitment. I think I would start with a YouTube channel first. I do have some videos up of my friends and me hanging out. I also edit and post videos for the Rutgers American Sign Language Club so I know I am capable of handling videos. I enjoy crafting so that would be a way to intertwine captivating my audience and giving them a call to action. Hooking viewer begins before the video even starts since they are probably looking up these types of tutorials. The call to action can come from
We believed that our customers would enjoy the peace of mind to continue working with the company they knew and trusted but now they gain experienced individuals who will be able to take their social media campaigns to new levels faster than we could have done on our own.
Hutch’s Skinny Eats is a company who provides nutritional information and guidance to interested consumers. As the years continue to go by, it seems that the percentage of obesity is increasing along with it. According to stateofobesity.org, the rate of obesity throughout the United States has increased to over 35 percent in four states with Louisiana being the highest adult obesity rate of 36.2 percent (Obesity Rates & Trends, 2016). In twenty-five states, the percentage is 30 percent and 20 percent within all of the states (Obesity Rates & Trends, 2016). That means throughout all of the states there is at least a 20 percent obesity rate. As these rates and obesity are certainly undesirable, that’s where my company comes into
I to found SWOT analysis to be enlightening and useful in finding the strength and weakness of my company. Though, the ability to keep a forward looking attitude is very health, but understanding why failures happen is very important too. It may be a sign that people within that organization are miscommunicating with each other. Addressing this issues now may avoid future problems in the future.
Big skinny is suffering from the major problem of ‘generating new customer traffic’ on its website and this problem is getting worse as internet users are conditioned to ignore online advertisements. While purchasing wallets online, the keyword “Big Skinny” may not cross the minds of the customers who are not aware of the brand and its products. The “AddThis” website applet, Facebook fan page and Twitter feed was being maintained to increase interactions with the fan base. But the main question was, how can Big Skinny target its potential customers and increase traffic to its website to promote online sales?
A marketing strategy will help differentiate a business form other business in the same line of business. The best way to differentiate a business is to create a core message. By having a unique approach business can eliminate competition. Sof-A-Logue’s goals for the new year are to build their brand with a clear market value proposition and create plan’s product strategy. They also want to develop customer profiles by using customer segmentation systems and position the company as the number one personal communications company by a new hybrid marketing campaign. The marketing team will present The Power of Less which focuses on eliminating anything not contributing to the success of the company. The marketing team will focus on simpler,
This paper is my personal SWOT analysis. The SWOT analysis discusses four specific categories to evaluate a project, situation or in my case my personal and professional life (Hay, Castilla, 2006). In this analysis I will look at the strengths, weaknesses, opportunities, and threats that I need to address in my life. The concept of this type of analysis is a great way to find out ways to improve, but at the same time is a difficult task for someone like me who has a hard time outwardly expressing self attributes. That might be one of my weaknesses or threats, on the other hand it might be what makes me a good listener to others. I will refer to the SWOT analysis chart throughout this paper (figure 1.1) the list was difficult but, I feel it is pretty close to complete.
According to What is SWOT Anlysis (2011), SWOT analysis is an analysis used to identify the internal factors (strengths and weaknesses) of the company as well as external factors (opportunities and threats) of the company.