by: turki alsekhan carlos godinez roopak gorajia adam mcreynolds angeli menta joseph quan matthew to...
TRANSCRIPT
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STYLE 2020
By:Turki AlsekhanCarlos GodinezRoopak Gorajia
Adam McReynoldsAngeli MentaJoseph QuanMatthew ToMgmt 464
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Style 2020: The BusinessProblems and OpportunitiesI. MarketingII. Business DevelopmentIII.OperationsIV.HR/Management
OVERVIEW
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Style 2020 is a personal service for men and women who seek to refine
their personal style.
For total image solution, stylists work one-on-one with each client analyzing
their personal lifestyle, current wardrobe and style makeover.
Mastering your personal style gives you:
Confidence
Sophistication
Professionalism
& overall comfort
STYLE 2020:THE BUSINESS
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PROBLEMS AND OPPORTUNITIES
Problem•Management has not evolved•No strong sales force•Lead generation•Organizational structure•Communication barriers•Luxury service difficulties
Opportunity•Growth•Generating more clients
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• Marketing techniques
Online Brand Image
Media/Software
Web-based Marketing Methods
• Marketing model for the international and e-style segment
I. MARKETING
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•College-Educated•$90,000 income or greater•Fashion-forward thinker/care about their own style•Located in South Orange County
TARGET MARKET
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Competition•Brand You Image•Project Image•Style By Naz
Style 2020’s competitive advantage
•Stylist has credibility
•Custom service for every client
COMPETITOR ANALYSIS
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Slogan•Slogans help recall a company’s name and purpose•Style 2020’s multiple slogans:
“Uncover your STYLE. Love it. Live it.”
“Life is Your Runway”
“Life is Your Runway. Walk it in STYLE.”
•Not a strong enough brand to have multiple slogans
ONLINE BRAND IMAGE
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One consistent slogan
“Life is your Runway”
•Easy to remember•Includes benefit of the company•Recalls the brand
SLOGAN RECOMMENDATION
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•Reviews determine the company’s reputation to the public•Feedback benefits a company’s performance and satisfaction of customers•Currently, Style 2020 does not have reviews (other than the testimonials on website)
REPUTATION/REVIEWS
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•To establish credibility, Style 2020 should utilize YELP•Yelp is a location social media site which can allow them to build and join communities•Receive feedback from consumers and professionals•Larger network base
REPUTATION/REVIEWS RECOMMENDATION
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Video Series
MEDIA/SOFTWARE
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WEBSITE
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CLIENT INTERACTION
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SOCIAL MEDIA
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Used to have Newsletter
Used to write on Blog sites, forums for fashion magazines
E-NEWSLETTERS AND BLOGS
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WEBSITE ANALYTICS
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•For clients who do not reside in Orange County, CA•For Clients who do not have time to drive to the studio•Expands Market•International Brand Recognition
E-STYLE AND INTERNATIONAL SEGMENTS
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WEB-BASED MARKETING METHODS
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• Methods of automating and enhancing lead generation
• Sales tactics to close potential clients
• Methods to convert leads into clients
II. BUSINESS DEVELOPMENT
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• Customer Relationship Management (CRM) programs
• Surveying current customer database
• Refine workplace organizational management structure
III. OPERATIONS
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• Microsoft Dynamics
• Nutshell
• SHC Direct
CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
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• Microsoft Windows based• Basic universal customization• Focus: Sales, marketing & servicing client• Incorporated e-mail accounts• Cross referenced website & CRM program• $44.00 per month
MICROSOFT DYNAMICS CRM
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• CRM smart phone platform integration• Simplified easy to use interface• Confidence level of potential client• Individual customizable profiles• Timeline feature• Benchmarking & goals• Synced e-mail database• $10 per month per user
NUTSHELL CRM
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• Built from the ground up CRM• Over 150 million individuals in database
SHC DIRECT CRM
Profile:
Household Information Income Information
Birthday Resident Location
Ethnicity Shopping Preferences
Age Occupation
Education Lifestyle Preferences
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• Catered to niche businesses• Proven strategy to increase return on investment (ROI)• Immediate implementation
CRM RECOMMENDATION
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•Job Duties•Projects/Events•Meetings
DAY-TO-DAY OPERATIONS: THE WORKPLACE
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•Currently have 9 employees•Confusion among employees for job duties•Miscommunication
JOB DUTIES
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Communication
PROJECTS/EVENTS
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•Purpose of meetings•Communication Barriers Pre and Post Meetings
MEETINGS
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•Reinstate job dutiesEmployee Handbook
•Monthly NewslettersEngages employees and community
•Meeting AgendasResolves communication barriers
WORKPLACE RECOMMENDATIONS
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• Work with HR to find ways to reduce turnover ratio
• Sales person position
• Interview process• Employee handbook
IV. HR/MANAGEMENT
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• Work with HR to find ways to reduce turnover ratio
-Develop new ideas for a different profile that would fit the sales position that is available• “Trial period” for prospective sales person
position
- Create a “Trial Period” to find out if the potential new hire fits the work environment• Interview process
-When Interviewing the new hire put the new hire in a mock situation for a
sale• Employee handbook
HR/MANAGEMENT
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NEW HIRE ROLE PLAY
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List all recommendations again•Operations:
-Customer Relationship Management (CRM): SHC Direct
• HR/Management
- Expand the profile for new hires
- Adopt Trial Period
-Create Employee Handbook
SUMMARY OF RECOMMENDATIONS
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Which ones to implement now• Operations:
-Customer Relationship Management (CRM): SHC Direct• HR/Management:
- Creating employee handbook
Which to implement later• HR/Management:
-Develop new profile for potential sales reps
NEXT STEPS
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Q & AThank You!