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Swot Analysis : Big Skinny

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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

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