Online Marketing at Big Skinny
The case study is about a wallet company name Big Skinny. One day the Big Skinny CEO, Kiril Alexandrov bicycled his way to work and his phone rang constantly. His marketing director and wife, Catherine Alexandrov had called and said that they had sold 4,000 wallets. The problem was that the online store had glitches and most of these wallets were given away for free. A few weeks earlier the two were promoting their wallets at the Harvard street fair and were successfully selling wallets. The street fair sales had made Kiril think of what the next step in expanding his brand would be. He decided to create an online store to further increase his revenue and company. Kiril returned to his office to ponder what he and his wife should do.
Catherine proposed that they cancel the orders, just as Amazon, Dell, and others have done in the past with the same experience. He realized that there was nothing else to do and agreed that it was the only option to cancel the orders because they would be losing wallets for free. With his confidence shook on the Big Skinny’s online store, Kiril pondered his priorities and wondered what really should be the next step for Big Skinny. He asked, “Should Big Skinny concentrate on drawing new consumers to its website through search engines, or should it focus on engaging existing customers through social and interactive media? Alternatively, should Big Skinny hand off more of its web marketing to retail portals like Amazon and Buy.com?” A Product That Sells Itself?
Wallets are generally preferred with lightweight and that can easily carry stuff like credit cards, cash and receipts along with other stuff. Thin wallets are considered better because it will always keep you safe from back pain. Wallets are often in need of replacement and people buy them as impulse purchase or as gifts since it is not a costly item and also does not require much information processing. Big Skinny has just launched world’s thinnest wallet and got good response from the market during various trade fairs it participate in. Conclusion
For an online marketing campaign to be successful, it is important that people resource all their options and make sure they are capable of fulfilling whatever objectives and needs they have to be successful. Big
Skinny has to make sure consumers are buying high-quality wallets from them. Wallets are a kind of purchase that has a high element of look and feel. People who recognize the brand and have owned it in the past are more likely to make a purchase and be confident about brand. This means online purchases would have more returning customers. For now Big Skinny should look at online retail as complimenting to their physical distribution through various channels. Question 2
Algorithmic search means most accurate result to the users query. Ranking high in a search will allow a site to reach consumers, whose search was related to the site’s product. The output of the algorithmic search would entirely depend upon the keywords chosen to be enlisted to the search engines. It is a listing of Big Skinny links in organic search results based on the proprietary ranking algorithms of search engines which usually factors of keywords, pages linking to the item, location, and etc. In Sponsored search advertising, advertisers are allowed to key in search words in sections for sponsored search. The main difference for the algorithmic search and sponsored search is those sponsored searches is more focused and give better results. Generally algorithmic searches are free but needs technical skills whereas sponsored are paid and can be easily incorporate provided right keywords are chosen. Question 3
An example of price would be how the website sells Big Skinny wallets for $20. This is pricing strategy because it utilizes the cheap and affordable price for a wallet, while also promoting the main quality of the wallet being skinny and slim. Many different affordable prices are listed on the website and very easily seen. Sales Promotion
The Big Skinny website offers many different sales promotions. One is spending $50 to get free shipping anywhere in the country. This is a great promotion that can increase sales and promote people to spend $50 on their website in order to gain free shipping. Place
The website also offers pop up shops coupons from the website that can be used at pop up shops at certain regions and stores. This can be used as a Place marketing strategy because it focuses on a certain area or store and promotes marketing to that specific store. This emphasizes on shopping at a certain place or store. Product and Target
Product can be illustrated by the fact that the website sells many different types of wallets. The website has many different wallets for men, women, and children. Within these genders classed wallets there are also many sub categories that the consumer can choose to look and purchase under.