Big Skinny wallets are water resistant and tough enough to machine-wash regularly. k. “Thinnest Wallet Ever” great marketing scheme 13. Core Weaknesses l. They won’t appeal to luxury customers because they are made of nylon instead of leather which is seen as a luxury material people may not be inclined to invest in a wallet that lacks the stylish approach m. “Thinnest Wallet Ever” could create competition of other wallet distributors to create thinner wallets and have Big Skinny constantly competing for the title c.
Product Development Analysis vi.
Made from a durable, water-resistant nylon micro-fiber 10 times thinner and lighter than leather yet just as durable. vii. “World’s Thinnest Wallet” viii. Thinner due to unique designs such as our Super Skinny wallet or sport wallet. Or our very unique leather nylon wallet hybrid series. ix. Wallets are small, lightweight, and often in need of replacement; hence, wallets are natural impulse purchases, often bought as gifts. x. the slimmest and most durable microfiber materials he could find, Kiril eventually developed a proprietary material tough enough to be machine-washable xi.
The Big Skinny material was . 21mm thick—thinner than a normal business card and about one-eighth as thick as regular leather 2. Problem Decisional Statement d. How should Big Skinny attract visitors to its site and how should Big Skinny convince those site visitors to buy wallet? 3. Heuristic Frames e. Continue business as usual f. Expand social networking marketing plan on Facebook, Twitter, Tumblr, etc. g. Partner with larger social network sites for sponsorship and ads. Blogs, video sites, etc. h.
Expand to larger retail stores putting wallets in stores building name and prestige and offering the online service as an alternative choice i. Invest in Infomercials to expand online appeal and popularity j. Partnering with another brand such as (Ralph Lauren, Gucci, Nautica) making big skinny style wallets k. Sell the business l. Billboard marketing of the website m. In addition to the website branch onto online shopping retailer sites like Amazon, Ebay, etc. n. Have a celebrity endorse or sponsor the wallets. o.
Have a larger business or retailer exclusively sale the wallets as a specific brand 4. Issue Analysis p. K xii. Pros 14. Having more in house products in other stores can allow for more marketing possibilities as well especially online 15. Turn the brand into a household name, eventually people will branch from buying them in stores and instead only buy from online shops 16. Turning the business into a more so manufacturer instead of a direct manufacturer to consumer business could help xiii. Cons 17. Adds to cost and expenses for shipping to retail shops 18.
A somewhat gamble to take it from the “fair market” especially given its limited popularity 19. Doesn’t allow for individuality much and creates middle men. 5. Recommendation q. Recommend selling the wallets exclusively through a major retailer because it could expand the brand and putting the website out there. Even the holiday season maybe have deals or holiday style advertising. Having it in larger retail stores such as Target or Wal-Mart and putting them every store across the country expands name and business and could create more online traffic.
To add to the existing. Could build the name and prestige to the company. Having it as an exclusive product could open opportunities to later expand it to other stores as well. Have Wal-Mart brand exclusive Big Skinny Wallets. Similar to how the iPhone was exclusively sold by AT&T and how the Apple products for some time were exclusively sold through Apple and now they are being sold at more retailers. Exclusive sales of Big Skinny wallets can increase online traffic maybe even selling a unique brand of wallets only from the company website. Offer exclusive deals.
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Big Skinny. (2018, Oct 23). Retrieved from https://studymoose.com/big-skinny-essay