Transcript File
Krochet Kids International Maggie Doherty Colleen DuBois Molly Hines Sam Murray Kaari Purstell Agenda • Introduction • Social and Environmental Benefits • Company and Competitor • Porter’s Five Forces • Marketing Strategy What is Krochet Kids? • Industry overview http://www.youtube.com/watch?v=7Py3Fog8KB4 Environmental Analysis • Economic Forces – Unemployment Rate – Inflation Rate of Clothing • Social Forces – Empowerment – Education Environmental Analysis Continued • Competitive Forces – Burton – Volcom • Technological Forces – Personal Technology Devices • Regulatory Forces – Low Regulation Porter’s Five Forces • • • • • Degree of Rivalry is LOW Threat of Entry is HIGH Threat of Substitutes is LOW Supplier power is LOW Buyer power is HIGH Competitor Analysis • Competitor analysis – Amazon and Volcom – Online Market – Price of Goods – Well known vs. New Companies Company Analysis • Company analysis – Mission and Values – Unique company and products – Humanitarian – Brand Awareness is low SWOT Analysis • • • • Strengths Weaknesses Opportunities Threats Key Issues Statement • Product Expansion • Charitable • Unique Marketing Goals • Increase Brand Awareness – Increase Advertising spending by 15% – Sponsor a pro snowboarder Marketing Goals Continued • Continue Expanding – Expand into other countries – Expand into Ethiopia in one year • Expand product availability – Expand to larger retailers • Zoomies, Urban Outfitters, and Anthropologie Marketing Strategy • Target Audience – Those who are active adults in their 20’s – Those who believe in social responsibility – Those with busy lifestyles that shop online Marketing Strategy Continued • Expand target audience – People of all ages willing to make a difference Marketing Strategy Continued • Vantage point over other competitors – Unique mission and vision – Non-profit producer – Emotional satisfaction Marketing Strategy - Logo Universally use the Love Africa logo •More emphasis on the humanitarian aspect •More appealing to wider range of consumers Marketing Strategy - Message Advertise the cause and the humanitarian aspect rather than the actual products Advertising should include workers or reference the cause Distribution – Expand to Stores • 80% of responders said they most often make purchases in stores • 43.1% said they shop online less than once a month Distribution – Stores Ideas • Put KK products in Anthropologie, Urban Outfitters, and Zumiez • These stores target the hip, young, and urban demographic Advertising – Online • Most young people see advertisements online • Online advertising is cheaper than tv or magazine Conclusion