strategic marketing report part 5,6,7, ONLY
gladyss
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Table of Contents 1. Introduction 3 2. Situation Analysis 3 2.1 Company’s Internal Strength and Weakness 3 2.1.1 Company 3 2.1.2 Collaborators 3 2.2 External Environment 3 2.2.1 Context 3 2.2.2 Competitive Environment 3 2.2.3 Customer 3 2.3 SWOT Analysis 3 2.3.1 Active SWOT 3 3. Evaluation of SWOT Analysis 3 4. Corporate Level of Strategy 3 4.1 Company Mission & Goals 3 4.2 Corporate Insights – Market Penetration 3 4.3 Portfolio Investment 3 4.4 Core Business 3 5. Business Level Strategy 3 5.1 Business Level Strategy 3 5.2 Single-Business Company 3 5.3 Generic Corporate Strategy 3 5.3.1 Miles and Snow Typology 3 5.3.2 Porter’s Generic Strategy 3 5.3.3 A Combined Typology 3 5.4 Functional Strategies 3 5.4.1 Competitive Advantages 3 6. Proposed Alternative Strategies 3 6.1 Strategy 1 3 6.2 Strategy 2 3 6.3 Strategy 3 3 7. Recommendation and Implementation 3 7.1 Product 3 7.2 Place 4 7.3 Price 4 7.4 Promotion 4 7.5 People 4 7.6 Process 4 7.7 Physical Environment 4 8. Implementation 4 9. Conclusion 4
Nasty Gal (NG) was established by Sophia Amoruso in 2006, by sourcing for vintage clothing and selling these products on eBay. She then built up the brand single-handedly through personalized interaction with customers. The regular interactions then lead to the gain of loyal customers, whom were highly essential in the beginnings of NG. Due to a violation of eBay policies, Amoruso then set up her own domain which eventually became the online retail store for NG.
Since the beginning, NG was created as envisioned by Amoruso. This meant that the brand’s identity and personality was heavily influenced by Amoruso. She represented the core essence of the brand’s image. Amoruso intended for the brand to bring out the confidence in girls with her core value surrounding the delivery of authenticity to customers. The unique style and loud branding undoubtedly is the differentiating advantage that enhances NG’s competitive edge. Together with the close relations built with customers from employing social media platforms, NG then became a profitable business.
Furthermore, the increasing number of competitors with technological advancement and ease of creating an online retail store affected NG adversely. As part of NG’s strategy to compete with competitors, it not only acted as third-party retailer store, it also launched its own label of apparels. However, as the fashion trends and demographics changes, consumer’s needs and wants also shifts. Today, NG is evolving towards designing and selling products that are catered more towards the mass market with lesser emphasis placed on the brand of NG. Lesser marketing activities are also undertaken to promote the brand.
Another milestone for NG would be the launch of its brick-and-mortar stores in Los Angeles and Santa Monica. NG has adopted a backward integration approach and has realised the benefits of setting up an offline store. This stores allows NG to provide face-to-face service interactions and enable NG to reach out to customers who are unsure of online shopping.
NG’s main focus at current times is to increase profits levels and improve market standing. However, with its breakthrough success and rapid recognition, NG seem to be losing focus and neglecting its competitive advantage. This advantage is essentially the motivation for success. The inability to sustain the unique personality after Amoruso’s resignation as Chief Executive Officer (CEO) in 2014 has caused NG to lose it identity.
2. Situation Analysis
2.1 Company’s Internal Strength and Weakness
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Primary Activities and Costs |
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Supply Chain Management |
NG’s suppliers includes reputable brands like Jeffrey Campbell and Mink Pink. These brands’ apparels fit the NG style and complements the overall identity. Instead of sourcing for a cheaper manufacturer overseas, NG works with a local manufacturer, which increases the cost of manufacturing (Chang, 2013). The final price rolled-out to consumers is then raised. |
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Operations |
NG has a centralised warehouse that is used to achieve a smooth flow of inventory into the organization and out. Ensuring prompt and efficient delivery to customers. |
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Distribution |
NG’s products are mainly sold through their website that allows the reach to be expanded to a global basis. The brick-and-mortar stores creates new distribution channels and offer face-to-face interactions with customers. Customers who were previously insecure of online shopping may be encouraged to purchase NG’s apparels. |
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Sales and Marketing |
NG actively engages with customers through social media platforms and advertises in magazines such as Elle and Nylon. Other marketing strategies include fostering close relationships with customers. |
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Service |
Customer care offers a return policy and order tracking system. With the offline stores, NG can offer personalised customer service. |
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Support Activities and Costs |
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Product R&D, Technology and Development |
Consistent research has allowed NG to develop its own label which includes, Shoe Cult. With the label, customers would have more options to choose from. |
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Human Resource Management |
The unsatisfactory working working conditions as reported, will lead to negative publicity that may adversely influence customer’s perception of the brand. |
NG has participated in many collaborations with reputable fashions brands to launch exclusive products to entice and instill excitement within customers. Some of this brands include Mac Cosmetics, Teva and Lazy Oaf. Collaborations create value for the partners and allow partners to exchange valuable experiences and learnings (Kanter, 1994). Working together with renowned brands improves the reputation of NG and demonstrates the capability of NG.
2.2 External Environment
This PESTLE was analysed based on the US context.
(a) Competitor Analysis
Both ASOS and Gypsy Warriors were identified as NG’s direct competitors as they offer similar product lines and operate with similar concepts. However, ASOS has a stronger overseas presence, perhaps due to the superior return policies. Gypsy Warrior is growing in size as it increases its market share. Similar to NG, it relies heavily on branding and creating a brand identity. Each competitor leverages on their unique identity, raising competition levels. Hence, NG needs to build an identity that is stronger and stick to their roots because that is ultimately their success supplement.
Indirect Competitors Fashion labels such as Topshop, ZARA and Mango offers similar product lines and can serve as alternatives. They mainly focus on expanding brick-and-mortar stores with hopes of increasing sales. Their products are usually for the mass market and they only sell their own label apparels. Although they offer online shopping as well, they are more recognised as mainstream fashion brand. Their online website as compared to the direct competitors lacks in interactivity and interface functions.
(b) Michael Porter’s 5 Forces
The Michael Porter’s 5 forces highlights the characteristics of industry and firm’s direct and indirect competitors.
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Threat of New Entrant |
High |
1. Cost of entry is low, encouraging new businesses entry. 1. New entrants are most likely to make use of new social media platforms to reach out to the tech-savvy consumer base, which is similar to NG. |
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Bargaining Power of Suppliers |
High |
1. Suppliers holds medium to high bargaining power as they are reputable and highly sought after. 1. They are in direct control over the amount of stocks sent to NG and may provide competitors with newer product designs. |
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Low |
1. Manufacturers of NG’s label holds low bargaining power as the cost of switching is other manufacturers is low. |
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Threat of Substitute Products |
High |
1. Threat of substitute is fairly high as there are online retailers. As e-commerce business can be operated globally, customers have more stores to choose from. 1. Brick-and-mortar shops in local countries also poses as threat of substitutes. |
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Bargaining Power of Buyers |
High |
1. NG’s products are priced premiumly and price sensitive customers may switch to purchase from competitors. 1. Supplier’s apparels can be purchased from other online stores and customers would purchase from the store which provides the greatest benefits. 1. Switching to other online shops can be made easily due to the low cost of switching. 1. Technological advancement allows customers easier access to information, increasing their knowledge. |
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Intensity of Rivalry |
High |
1. Barriers of entry is very low. 1. ASOS provides free return shipping. 1. Customer loyalty is low as most customer have access to multiple online stores and would select the store that is best value for money. 1. The online retail industry is ever-growing and it increases the rivalry among existing firms. |
(c) Life Cycle Model
NG is currently in the maturity stage of the life cycle model as it has established high level of brand awareness and equity. The initial initiatives also helped gain a substantial amount of loyal customers. Whilst in the maturity stage, NG looks to maintain its market share through retention of customers and encouraging repeat purchase. As previously mentioned, the critical success factor of NG is to remain differentiated through sustaining its competitive advantage.
In the mature stage, it is typical of companies to extend product offerings to ignite revitalization and maintain or improve market position. The introduction of the offline stores can then be viewed as NG’s initiative to revitalize growth. It is important for NG to consistently modify its product offerings or adopt innovative marketing strategies to ensure sustainable profits and trigger new attractions.
The target market of NG is segmented based demographics and behavioral factors. They are aged between 18 to 24 years old and are considered to be fun, sexy and confident (Young, 2013). They also have strong opinions and interest about fashion and vintage style clothing. According to Amoruso, NG’s target market is better described as “She’s cool but not too cool for school. She’s pretty but not so pretty she looks like a bitch.” (Collins, Chang, Shaffer, Hartman, 2015).
NG’s customer are mostly influenced by internal and external factors. Internal influences refers to perception of the products, in particularly, how customers perceive the NG style. Customers of NG are influenced by fashion personalities and would want to portray a similar identity as marketed by the “Nasty Gal” personality. They purchase NG to meet their self-esteem needs and boost confidence level.
External influence adverts to the marketing activities of NG. The effectiveness and success of the marketing activities largely determines the ability of NG to reach out to its target customers.
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Strengths |
1. Strong brand recognition and social presence NG has been in the industry for 9 years and grown into an international brand. NG has garnered more than 1.7 million followers on Instagram and 1.2 million likes on Facebook proving its strong social presence and recognition.
1. Stable financial resources NG was debt-free since operations and generated $130 million, with gross margin over 60% by 2013. 1. Collaboration with other brands Collaboration helped boost brand recognition and sales. For example, the MAC cosmetic collaborated created makeup products which increase profit levels.
1. Customer engagement on social media NG uses social media to gather customers’ feedbacks through personalised engagement. Consistent uploads and interaction are maintained with regular Facebook Q&A sessions. 1. Experienced employees Experienced employees from other companies are poached to improve productivity and efficiency. 1. Technology and Operations Advancements Index Venture (IV) investment helped NG improve their inventory system, technology and operations. This enabled better service provided to customers. |
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Opportunity |
1. Investment opportunity The ability to garner investments from IV reveals that NG has the capability to secure investments for improvements. NG can exploit this opportunity and secure other investments to further enhance their systems. 1. Expansion of NG collection 30% of sales are made up from NG’s expanded product lines. The expansion of product line should be continued and NG may explore other areas such as plus-size collections. 1. Brick-and-mortar store NG’s brick-and-mortar store diversified customer reach and awareness. NG is then able to increase sales and encourage customers who are not willing to shop online to purchase its products. Hence, more stores can be set up in different cities, followed by international expansion. |
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Weakness |
1. Customers’ risk The risk of purchasing items online is high as online credit card fraud may occur. Other risks such as incorrect shipped orders, combines and deters customers from purchasing online.
1. Refund policy NG’s customers are required to pay $5.99 for “handling and process fees” while most competitors provide free return shipping. As NG’s return rates are high, the current policy may impede potential customers from purchasing.
1. Loss of identity When Amoruso stepped down as a CEO, it adversely affected NG. Since its beginning, Amoruso was branded as NG and her resignation as CEO causes a dilution in the brand’s identity. the company. Therefore, without Amoruso, NG is unable to sustain its original identity as customers would have difficulty relating to the brand.
1. Poor customer service Although customer service was commendable in early times, it has been neglected and has deteriorated. Reviews show that customers find difficulty contacting NG as the website interface is poorly designed. NG also suffers a bad reputation from frequent overcharging and poor feedback system. |
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Threats |
1. Increasing competition Competitors like ASOS and Topshop are increasingly popular as they offer customers added value. ASOS provides attractive shipping fees and more affordably than NG while Topshop has more experience and better reputation. 1. Dilute brand image Part of NG business is to act as a third-party site and sell suppliers clothing. This poses as a threat to its own label as brand dilution may occur, restricting its growth. |
3. Evaluation of SWOT Analysis
NG has proven to be successful in expanding its online store to brick-and-mortar stores. The offline stores helped NG offer additional benefits and value to customers, which in turn, serves as an additional revenue stream. Considering the increasing threats from competitors, NG has boosted activities to tap into the other opportunities presented. The collaborations enabled NG to leverage on the success of the partnering brands to improve its sales levels. These opportunities from collaboration were timely seized as it aided to increase customer confidence levels in NG and spark off interest within the industry.
As an online store, the high level of perceived risk is a turn-off to customers and NG can counter this by increasing customer engagement as shown in the Active Swot. The live-chat functions that is deemed as an opportunity that should be seized to instill confidence and improve customer’s shopping experience. NG proved to be forward-thinking with its launch of its own label by opening doors to markets that may have been unserved.
Since the creation of its own label, NG continues to sell suppliers products which may cause brand dilution as customers would be confused over the stand of the company. The resignation of Amoruso as CEO further diminishes the brand identity. NG has to adopt strategies that is focused on building the brand identity back to its former glory.
4. Corporate Level of Strategy
NG mission is to attract fashion-forward and free-thinking girls who are not afraid of capturing attention by rocking outre and unique outfits (Grant. R, 2012). The aim is to transform any girl to become the coolest girl in the room with a wide variety of vintage yet acquainted collections and pieces.
In an interview, Amoruso mentioned that her goal for NG was to have its own unique point of view and is not a brand that had “everything for everyone” (Imbert. M, 2012). NG also strives to be genuine and to have real conversations with customers to create value relationships.
4.2 Corporate Insights – Market Penetration
According to the Ansoff Matrix, NG adopts the Market Penetration strategy. Market penetration refers to companies increasing market share or sales in an existing market through the use of promotional tools.
NG does marketing through social media to increase customer engagement, allowing customers to feel more personal and relatable to the brand. Advertisements have been placed on magazines such as Nylon, increasing brand awareness and serving as reminders for the potential customers.
The worldwide shipping that is offered by NG further aids penetration into the current market as NG is better able to reach their target audience. However, numbers would steadily increase as products are now offered online making them available globally. Nasty Gal also introduces new products periodically. For example, new designs are launched when new seasons approach, improving options for customers.
IV made 2 investments in NG in 2012, totaling to an amount of $50 million. The first investment introduced NG’s new inventory system, while the second investment helped NG invest in technological products, and improve its operation system. In February 2015, another $16 million investment from Ron Johnson was made and it contributed to the opening of the second brick-and-mortar store in Santa Monica. These investments made by IV and Ron Johnson helped NG to purchase and invest in better assets, materials and technology that was able to aid NG in a smoother operation system and ultimately a better customer service offered to the customers.
The initial core-business of NG was an online reseller for second-hand vintage apparels. As the business grew, NG ventured into being a third-party clothing online store, carrying fashion labels on their website, representing its merchants on its website. The NG label that was launched radically changed the business, enhanced profits levels and brand association. According to research, the label constituted approximately 35% profits in 2015 and is predicted to increase. (Recode, 2015)
Another core business would be NG’s offline stores that provide customers the opportunity to try on items before purchase. Additionally, NG participate in collaboration to create and sell products that are complements. These include the “MAC X Nasty Gal” collection in 2014.
Besides the tangible goods that NG sells, the label also represents social belongingness and identity, that customers like to associate themselves with. The ability to allow customers to feel relatable helps NG gain recognition and improve business. (Growthhackers, 2015) Ultimately, customers are seeking the lifestyle that is marketed together with the brand and are buying the identity and image that is tied together with NG.
5. Business Level Strategy
Business-level strategies represent plans that companies make to conduct various functions in their business operations (Vitez, 2015). Within NG, there are different business units where NG strives to coordinate and agglutinate their functions so as to improve productivity. In the long-run, this will be successful as departments are well-equipped with various skills and knowledge. For NG to continue its success, it is then required for various business units to participate in high level coordination.
A single business strategy exists when a company derives more than 95 percent of its revenue from a single business activity. (Mack, 2015) NG focuses on the retail business, specifically, selling women’s fashion apparels. Despite having several product lines, NG generally targets a single target market.
5.3 Generic Corporate Strategy
According to miles and snow typology, a company that follows the prospector strategy is a highly innovative company that seeks out new markets and opportunities. It is oriented towards growth and risk taking. (Barney and Griffin, 1992) NG adopts the Prospector approach as it is one of the pioneers in the online retail industry. When the business first started, Amoruso took on a large risk as uncertainty of business success was present.
Creativity is an important factor for companies when they are prospectors. NG has been creative with products designs and have undertaken creative methods of communicating with customers. NG also proactively searches for suitable brands for collaboration opportunities thereafter, releasing exclusive collections. NG also seizes the opportunity to create the NG label to stay ahead of competitors.
5.3.2 Porter’s Generic Strategy
NG adopts the differentiation strategy whereby unique products are sold to their target customers. Apart from using vintage style as its competitive advantage, another unique point would be the relatedness of Amoruso as NG. The creation of the NG identity was truly the unique selling point for NG where customers purchase the apparels to affiliate with the identity perceived. Customers would want to stay with Nasty Gal because of the strong Nasty Gal identity that only Nasty Gal can offer. Loyal customers would mean that there are repeat purchases and consistent revenue.
Previously established, NG belongs to the prospector strategy. The ability to maintain flexibility and come up with new innovations to combat environmental changes puts NG at an advantage. Differentiation occurs with the unique NG style, by which NG often take on risks to introduce the product to the market. As can be seen from above, NG also pursues opportunities and exploits them when feasible.
NG competitive advantages are derived from the the strengths of the company. NG’s quirky fashion style gives it a competitive edge. To sustain this competitive advantage, NG should continue to sell curated vintage pieces and explore options that fit their line of business.
The partnership with other brands also help develop NG’s brand as NG is able to leverage on the commercial success of the reputable partners. Through the collaborations, NG’s would be able to portray its capabilities and increase brand awareness.
Additionally, the strong social media presence is also a building block for NG’s competitive advantage. The large follower base on each platform can be influenced with marketing activities to further extend NG’s success. The regular updates on social media enables NG to have a hand in customer’s feedback for better forecasting and improvements. With the consistent interaction on social media, NG also proves to customers that they are willing to reach out and solve issues as required. Heavy emphasis is also placed on employing the social media platforms as a stage to unify NG brand loyals together for simpler targeted marketing to be performed.
6. Proposed Alternative Strategies
6.1 Strategy 1 – Reinstate Sophia Amoruso – Market Penetration
The change of CEO from Sophia Amoruso to Sheree Waterson has radically modified the way Nasty Gal is being operated. Although the current CEO, Waterson, has introduced strategies for Nasty Gal, it indirectly dilutes what Nasty Gal means to its consumer. The increasing commodification of the brand while introducing commodity products causes Nasty Gal to lose its identity and competitive advantage that was essence to its success. The reinstatement of Amoruso as CEO could revamp the business to its former glory and reignite growth by capitalising on its branding. A campaign that is focused on branding and publicizing Amoruso would be launched. The campaign would highlight new initiatives to better package Amoruso as the identity of Nasty Gal. Corporate clothing line and pop-up stores would be created to help reconnect with original customers of Nasty Gal. The reinstatement of Amoruso would also reinstall the former corporate culture and portray the work environment as fun and motivated, as opposed to the current bad reputation and legal issues. One disadvantage would be the costs of the campaign and risk of customers viewing the move as unreliable.
6.2 Strategy 2 – Enter New Geographical Segments – Market Development
Currently, Nasty Gal’s business mainly occurs online or in its brick-and-mortar stores.In 2014, the first store was introduced in Los Angeles while the second store set foot in Santa Monica. To fully capture the market potential and ride on the emerging globalisation, Nasty Gal should expand and set up stores in other cities of America. Cities to consider could include New York and Chicago, both of which are renowned as popular shopping destinations. Entering new geographical segments with existing products would allow Nasty Gal to expand its reach to more customers and improve sales and profit levels. At the same time, the expansion would bring onboard new foreign employees who may aid in the development of Nasty Gal with their differing knowledge and expertise (AniseSmithMarketing, 2015). However, the concern with the expansion would be incurring high fixed costs and risk of losing control over the management of business.
6.3 Strategy 3 – Introduce Pluz-Size Apparels – Diversification
To attract a larger customer base and to stay relevant with trends, it is suggested that Nasty Gal create new products for new markets. Diversifications strategy is used to propel the initiative and Nasty Gal can look to introduce plus- size apparels for the initial launch. As 65% of Americans are considered plus-size, the market opportunity is great. Between 2013 to 2014, the plus-size apparel market earned US$17.5 billion (Reagan, 2015). Looking at the gap caused by the lack of such apparels, Nasty Gal could create new designs suited to the customer’s needs. These designs could be more modest while emphasizing on darker colours to ensure that the clothings flatter the new customers and continue to fit the Nasty Gal’s identity. As such, Nasty Gal would be able to cater to the increasing demand and increase sales-profits. The introduction of plus-size apparels could increase brand awareness and improve the image of the brand. Yet, such a move may result in brand dilution, shifting away from the primary target customers.
7. Recommendation and Implementation
After consideration of the 3 alternative strategies, the team believes that strategy 1, reinstating Amoruso as CEO is most apt. As mentioned, a campaign would be launched to brand Amoruso. The following are the methods and details of implementation.
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Product |
1. New corporate clothing-line will be introduce, featuring more modest designs and materials while maintaining a vintage edge and style 1. The clothing would give off an urban vintage look that is suitable for customers between 22-35 years old and who are working
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Place |
1. Pop-up store tour featuring signature vintage collections and the Urban Vintage collection 1. Amoruso would tour together to increase the public’s awareness of her 1. Improve brand recognition and allow customers to perceive the relatedness of Amoruso and the brand 1. Introducing Amoruso as a strong career lady who sustains her Nasty Gal personality 1. Exclusive interviews and autograph signing sessions would also be featured 1. Creating marketing buzz and sparking off brand recall for customers who used to NG’s loyal supporters
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Price |
1. Following the premium pricing strategy that is adopted by NG 1. Provide customers the perception of superior quality products 1. Fulfil self-esteem needs when they purchase from the collection.
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Promotion |
1. Introduce contests to increase excitement and engagement levels 1. Customers can be involved through sharing and commenting on NG’s post generating earned media |
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People |
Employees 1. Ex-employees have expressing how the working environment has changed since the investment made by IV 1. Waterson brought about bad publicity where it was alleged that she forced a series of layoff and reorganizations 1. The change in the corporate culture has resulted in unhappiness and employees feeling unjust 1. With the reinstatement, the original corporate culture should also be cultivated where relationships with and among employees are heavily emphasized 1. Launch of Urban Vintage collection would provide Amoruso the opportunity to work closely with employees of all levels and new relationships may be formed 1. Important to provide employees with training and new benefits to foster a positive working environment.
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Customers 1. Should be conscientious when making their orders to reduce errors and follow ups by NG 1. Work together with NG and provide feedback when necessary 1. Help to draw attention to NG by posting pictures online and including hashtags |
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Process |
1. To improve the buying process, a live chat function would be included on the website to facilitate prompt replies to queries as it is crucial for the interface to be user-friendly |
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Physical Environment |
Pop-up store 1. Increase interest and attract public’s attention 1. Allow customers to view new collections and enjoy exclusive services |
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Advertisements 1. Help raise awareness for the campaign end enhance the reach to wider group of audience. |
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Website 1. Provides information and preview for NG’s apparels to allow customers to view before purchase. |
8. Implementation
Commencing the campaign, the team hopes to ignite interest through the sneak preview. In Phase 2, internal communication and educating of employees will be conducted to resolve the unhappiness and tensions. Programs for motivating employees would also be introduced to keep the working environment positive. Finally, the campaign will be concluded and NG can plan for the next Urban Vintage collection.
Revenue of $26 million dollars is aimed to be achieved from this campaign, maintaining 60% profit margin.
9. Conclusion
Overall, the team feels that NG is shifting away from its original focus and it would eventually cause the brand to be commoditized. NG should try to revitalize its current life stage to remain competitive in the market. With suitable strategic plans and marketing activities such as the ones proposed, NG should be able to reignite interest and continue its success. The team strongly believes that the unique brand identity of NG is the ultimate crucial success factor and should not be neglected.
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11. Appendix
