Download The Source - Prianka Jhingan

The Source: Canada’s Most Trusted
Electronic Shopping Experience
Natasha Nehmetallah
Prianka Jhingan
Sandra Gaganiaras
Currently, The Source is not able to reach full sales potential due to its inability to be top of mind
with consumers and narrowing of a popular target audience.
Situational Analysis
Current State
Desired State
Company
The Source may be still identified with the
out of date RadioShack
The Source has the latest technology at
competitive prices.
Inventory suggest lack of specialty with the
sales of camping gear, household appliances
and musical instruments
Huge Selection of all the latest products from
the top brands, in addition to products that
can’t be found anywhere else.
Store layout is not inviting, with cluttered
trade shop feel
Smaller stores offer more personal shopping
experience
Social Media and online presence is low.
Easy to navigate and informative website with
live chat and an interactive social media
campaign.
Not “top of mind” for technological fix.
To be the go to place for all technological
needs.
Big Box appear cheaper with a larger
selection. Ex. Walmart, Best Buy, FutureShop
Realization that selection is high and a best
price guaranteed.
There is a perception that online prices from
a variety of sites are the lowest.
Online store makes shopping convenient with
the option to try it out in store. Buying from
the online store is creditable.
Customer
Older, 55+ males who once shopped at
RadioShack.
Trendy, young 18-35 year old males and
females seeking the latest technology
Collaborators
Seen as not offering the same brands as big
box stores, with brands that are not the
latest or in the highest demand
Perceived as having a large selection of the
brands that are available in big box stores,
with variety of options available especially
online
Context
Price conscious consumers, technology
changes fast. Current demographic is males
with the majority of the purchasing power in
this sector
The market is evolving and who is dominating
in this sector is changing (everyone wants the
latest technology, not just men)
Competitors
In order to achieve the desired state, The Source must include a larger segment, develop the
consumer experience and clearly outline its position in the market.
Include a larger segment of the
electronics consumer market
Develop the consumer
experience
Clearly outlining the
position in the market
Ensure Marketing Objectives
have been fulfilled
• App development
• Social Media
• Collaboration with popular
bloggers
• In store promotions
integrated with apps
• Provide consumers
with easily accessible
information (barcode
scanning)
• Strengthen the image of
The Source as being
primarily a consumer
electronics retailers
• Convenient locations
and smaller stores
• Obtain 100,000 new email
addresses
Store layout
•
•
•
•
More interactive
Organize store by products
Reduce clutter
Showcase popular, in
demand offerings
• More inviting and
appealing to younger
audiences
• Have working models
for experiential trials
• Showcase high end
electronics
• Convey the promise to
consumers that they are
getting the best in the
market for best price.
• Increase average ticket
sale in store and online
More
experienced
associates
and
increase
femalemale ratio
• Attract consumers who are
increasingly knowledgeable
and realize they are attaining
up to date information from
those who are competent in
the industry
• Female consumers will be
more inclined to come to the
store to be educated on the
latest technology and not
feel intimidated
• Provide consumers
with support in store
to ensure that they are
well-informed and
making educated
decisions about their
purchases
• Convey that they are an
industry leader in
providing consumers
with knowledgeable
staff who can assist with
all technological support
• 5 million dollar increase in
sales
Improved
inventory
model
offering
• Consumers will be aware
that The Source is a reliable,
exclusive electronics store
with in demand products
• Providing in-demand
products, diminishing
in-store clutter
• Focuses the consumer
towards specialized
technological products
• 5 million dollar increase in
sales
Media
platforms
• Grow social community by
50% in fans and followers
Insight 1: The female electronics consumer is currently overlooked; The Source has the
opportunity to cater more to their needs.
Trendy
17-29 years old
Similar purchasing
behaviour to males,
but are more price
sensitive
Desire the recognition
and status of ‘cool’
technology
Themselves
Female Consumer
Intimidated by male
dominant stores
Children
Provide the latest
technology to:
30-55 years old
Significant others
Growing heads of
households are
female.
Friends and family
Time impoverished
Insight 2: Although the desires of young adults aged 17-29 and women between the ages 3055 are different, an integrated marketing strategy would appeal to both groups.
My name is Clair,
I spend a considerable amount of
my time using electronic devices
and desires the latest technology
that my friends have.
I use these electronic devices both
at school and at home. I consider
myself as a trend setter.
My name is Martha,
Provide easily
accessible product
information
Facilitate sharing and
transfer of knowledge
I have little time to browse
electronic stores. I’m Into
technology, yet the shopping
experience is intimidating,
therefore I’m hesitant to shop at
stores that are male dominated.
I’m price sensitive and usually
purchase products for others with
recommendations from the
internet.
Increase Social
Media presence
The Source must leverage the Consumer’s Journey to Purchase to leverage
critical touch points and create Moments of Truth.
Information Search: Customer seek
information on technological products
through the internet and
recommendations from trusted sources
such as friends, family, bloggers, social
media presence.
Need Recognition: Consumers
realize there is a desire to satisfy a
technological need for educational
and/or personal purposes.
Purchase Decision: Based on the
evaluation, consumers will be
inclined to choose The Source, not
for a one time basis, but create a
loyal relationship for all technological
needs
Evaluation of Alternatives: Consumers will
be well informed and will be able to see
that The Source provides the lowest price
with the same selection as Big Box stores
because they have been extensively
engaged in the online community.
Moment of truth: Realization of what The
Source offers and how it benefits the
consumer.
Post-Purchase Decision:
Consumers become brand
ambassadors and create
conversations within their
social circle - online and
through word of mouth.
Expanding our media platform will help to reach a younger and more diverse target
audience and guide them through their journey of purchase.
App Development to
enhance customer
experience. Empowers
customers with
knowledge and
accessibility to products
and services.
Enhancing Social media
presence to encourage
communication between
customers and company.
Andriod
Twitter
iOS
Pinterest
Ex.
Facebook
Engage target audience by
providing them with an
interactive viewing
experience. Leverage
forums and allows
customers to share and
create videos with the
technology community.
Ex. Technology YouTubers
and commentators.
Windows
With the marketing objective of increasing our followers on Facebook and obtaining email address, the
source will provide a coupon or discount upon signing up for any one of our social media campaigns.
The majority of the social media budget will be allocated to Facebook and 8% of the
total budget will be allocated to mobile app development and maintenance.
Budget for Application Development:
$45,000 for a 10 week development
• Design including wireframes, mockups,
final – 3 weeks $7,500
• Development -6 weeks $24,000
• Questions & Answers – 1 week $2,500
• Further Upgrades and maintenance $10,000
Developing an easy to use, informative application for mobile devices in order to
enhance consumer purchasing power, simplify the complexity of the technology
experience at and before the point of sale.
Elements and Benefits of Developing a Mobile Application for The Source.
Elements
Benefits for Consumer
Benefits for The Source
Barcode scanner
Allows information and comparisons immediately on the
product they are interested in purchasing. 72% young adults
use mobile to compare prices.
Able to track which items are most frequently
considered.
Points Collector
Allows for incentives and rewards based on purchases through
collecting points.
Tracking consumer behaviour for direct advertising
and demographic information.
Store locater
Shows consumers the convenience of The Source Locations.
Perhaps compare to Best Buy and Wal-Mart.
May increase traffic from interested buyers who
would otherwise not know they were there.
Wish lists
Easy for communication between customers for gifts. Makes
shopping more involved between friends and family.
Allows them to anticipate consumer needs and
recommend related products.
Money Transfer
Easy Gift Card transfers through App no matter your location.
To be perceived as a convenient place to give gifts.
Payment Options
Pay directly from mobile phone for faster checkout.
Allows to serve customers more efficiently.
Appointment with Staff
Allows for 1 on 1 consulting and a more intimate experience.
Deal with issues head-on and increase customer
The Source will benefit from having a more established social media presence to
connect with customers with a more personalized platform.
 Generate brand awareness
 Engage customers through
promotions and contests
 Drives traffic to main website
 Reputation management of
company
 New customer acquisition
 Lead generation
 Client retention
 The “cool” factor
 The viral effect
 Feedback mechanism
Budget: Hiring a professional dedicated to social
media presence
Digital marketing specialist: $65,000 annually
YouTube is the ideal platform for The Source to convey its brand character and
personality, while providing consumers total control of their viewing experience.
Easy integration
with social media
pages
Our creative will utilize rational appeals to connect with
our target market. They will appreciate testimonials
from other The Source customers regarding their
buying experience and will link them to blogs written
by employees highlighting popular products.
Include clickable
annotations which direct
the consumer to more
information and videos
Connect to popular
YouTubers who talk
about technology or
other videos by The
Source
Simulating a real
life experience and
bringing it to life
for the consumer.
Product information is readily
available and research is not a
daunting task
The website must be revamped to be consistent across media channels.
Testimonials can be accessed
through blogs, Facebook and
twitter.
Users can connect with other
customers to discuss current
technological trends
Ability to compare
prices to
competitors similar
to the mobile app
Special offers will become available to customers through social media and
partnerships with educational institutions
Liking The Source’s Facebook page and “checking in”
will earn followers discounts
The Source Twitter followers can retweet company
messages for special offers and discounts
The Source will partner with local schools in their
fundraising efforts, offering a percentage of sales as a
donation for qualifying purchases
The Source should modify its store layout to better serve customers with a more inviting
space and showcase the most popular products with displays and demonstrations.
Multiple service
desks for quicker
service
Stock room to store
merchandise out of
sight to cut down on
clutter and be able to
display offerings more
effectively
Free standing display tables
with functioning products
to give customers the
opportunity to interact with
products before purchase
The integrated marketing campaign will include opportunities for the
consumer to virtually visit the store and be drawn to come in
The source should consider reorganizing their staff to include an equal male
to female ratio of knowledgeable sales associates.
Make the job more inviting to females through
training programs and increase female
presence in advertising.
This will make the target audience feel more
comfortable entering the stores and asking
questions.
Empower employees to make
decisions on the spot to best serve
the customer without having to
consult with a manager
Incentivize employees for blogging
about the company and the services
and products it offers
Offer employees shares in the
company as a part of their
compensation plan
Employees are brand ambassadors
How we will measure the success of this campaign.
•
•
•
•
•
•
•
Likes, shares and tweets on Facebook and Twitter
YouTube views and analytics
Online sales versus in-store sales versus app sales
Google analytics
Use of Analytics of App Development
Salesperson tracking prior to initiative and after
Same store sales before and after