Research and Recommendations for MAD Hats

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Presentation transcript:

Research and Recommendations for MAD Hats Deloitte Consulting Group Connor Andrus, C. Chambers Giblin, Jonathan Helm, John Moore, and Virgil Nunan

Executive Summary Strategic Marketing Actions Potential Website Initiatives Overall Plan for the Future

Line Extension Recommendation Market pompom beanies to women, snapbacks to men These extensions are profitable Data Analysis Pompom Beanie: Women > Men Snapback: Men > Women CVP Analysis Worst case: $5,500 Most likely: $148,000 Best case: $240,500

Distribution Channels Recommendation Market pompom beanies to women through specialty retail stores, snapbacks to men through the website Promote or drop: mobile app Data Analysis Specialty retail: Women > Men Website: Men > Women Mobile app: Least likely place CVP Analysis Worst case: $3,500 Most likely: $6,000 Best case: $8,500

Perceived Liking Heat Map

Segment Saturation

Recommended Marketing Actions Promote the pompom beanie to women at specialty retail stores Promote the snapback to men on your website Promote a variety of styles to athletes, hipsters, and hippies, expand into empty nesters Promote less popular hats to niche segments Mobile app: improve or phase out

Recommended Website Initiatives Increase website speed Start email campaign Do not offer free shipping Offer targeted coupons

Targeted Coupons Biggest reason for cart abandonment Track customer data Parameters to award coupons Additional uses of big data mining

Incremental Revenues, Costs, and Returns for Each Initiative, First Year

Internal rate of return, with free shipping -11.82% 54.04% Internal rate of return, with free shipping Internal rate of return, no free shipping $(2,938,268) Net present value with free shipping $3,579,576 Net present value without free shipping

Overall Strategy Moving Forward Shipping Do not offer free shipping as it is very costly in comparison to your other initiatives. Email Campaign This has the least impactful incremental revenue, but the least expensive. Targeted Coupons Improve website conversion rate steadily to increase sales. Line Extensions Extend your line to keep up with current fashion trends. Niche Markets Market less popular hats to specific niche markets as identified through survey data. Get2Give Continue to promote your social mission as it is an incentive for customers to buy your hats.

Thanks! Any questions?