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Gift Sift Marketing Presentation
Transcript of Gift Sift Marketing Presentation
Birthday and Anniversary dates
Past purchase history
Optional survery results that indicate the reciever's hobbies and interests. Helps forgetful users organize important dates and past purchases in order to aid in future gift giving! Shipping is perfect for users who do not have time to pick up the product in store. If a user discovers that he or she has made the wrong gift choice, has selected the wrong size, or that the product is not satisfactory, then our company is happy to accept returns or exchanges free of charge to the customer. The user simply needs to log onto their account, print out a return label, and the package will be shipped back to our headquarters with no cost to them. One-Time Membership Fee The one-time membership fee will be collected when the user first decides to purchase a gift from our website. Users can create profiles for free, as well as create gift-giving profiles and sift through our product collection. However, the first time the user decides to ship a product to himself or herself or the person they are buying the gift for, the customer will be charged a one-time membership fee of five dollars in addition to the shipping on the individual item. They will then be able to access all of the website’s features. The customer will also cover shipping costs when he or she chooses to have a product shipped to them rather than pick it up in the retail outlet. As mentioned above, shipping will not be charged when a user wishes to return or exchange an item. Situation Analysis Overview Online gift shopping enables customers to easily access a large range of products from a plethora of online stores to more efficiently gather and purchase gifts for loved ones. Any online shopping allows customers to see products from many different online databases from the comfort of their home. The difference, though, is online gift shopping allows customers to buy for others from a shortened list created by the site with the customer in mind. Industry Analysis Large online databases make it difficult to reduce possible gift ideas from many different sources to a short, concise, exact list. Other sites work with the idea of “gift lists” for customers. However, these sites tend to be for the customer themselves, and without anyone else in mind, so that, in essence, people are merely shopping for themselves. Online gift shopping allows customers to buy for others, with recommended ideas that help to reduce choices to the best ideas of gifts. Market Size Gift Sift will operate in the online shopping market. The growth of this industry is slowly progressing, although held back by consumers’ trust in online purchasing and advancement of technology usage. Once recognized and overcome, this market will soon dominate shopping. 3. Customer Trust This market heavily relies on customers’ trust to post their credit card information online. Customers will not be engaged in online gift shopping if they have no desire to purchase products online due to the possible threats of sharing personal credit information. 2. Wide Range Of Products With more products available, online gift shopping will strive with more opportunities and choices for all customers. Customers will only continue to come back if they have more options each time with products. 1.Time Saving Customers will need to be quickly presented with possible gift ideas and a quick survey process to keep up with their quick lifestyles. If the market is not quick, customers will not be satisfied. SWOT Analysis Competiton Company and Customer Analysis Online Retail Shops With the internet growing as a fast and easy selling source, many retail shops have jumped on the opportunity to expand their business online. In fact, online retail stores are now a part of their own category, no longer considered a branch of a company but its own company as a whole. Each of these online retail shops poses a threat for Gift Sift. According to My Solitaire Concepts (1), just in 2008, web divisions grew by 18%. Some online retail stores, such as Target.com and Walmart.com, sell what they have available in-store online. Others, such as Victoria’s Secret, have a totally separate store online, which sells different products than the in-store locations do. Online retail shops earn revenue from product selling, shipping fees, and advertisements of partner companies. Amazon.com Amazon.com has recently experienced a market cap growth higher than its competitors, only second to Walmart.com. (2) In 2009, the website recorded a net income of $172 million, a huge increase from the 2008 figure of negative $730 million. Although its products can only be purchased online, Amazon has many other locations, including customer service offices and fulfillment centers. Amazon.com’s main future is its Wish List, where a customer can save items he or she is interested in to send to another person to buy. Overstock.com Overstock.com, founded in 1997, sells discounted products from non-brand merchandise. After a branding push in the fourth quarter, the company’s sales increased 24% to $ 1.09 billion in 2010. Recently, Overstock.com has advised users to simply use the O.co URL domain as a way to brand itself around the letter O, a change costing roughly $350,000 (4). Company Analysis Customer Analysis Promotion Description 1. Internet 2. Print Sources 2. Community Promotions Users also have the option to pick up products in store at our retail partner's local locations. In-Store Pick Up For users who use our Gift Giving Profiles for each person they buy for, Gift Sift will send a free shipping coupon around the birthday or anniversary of the receiver in order to promote choosing their gifts through our company. Place Users can utilize our website anytime and anywhere there is an Internet connection. Furthermore, those users with an iPhone or Smartphone can download our Gift Sift App for free and also access the service from their mobile phones. The World Wide Web Gift Sift will advertise on the web and in print sources. Gift Sift will use the same techniques as above except in an aesthetically designed print campaign. The advertisement will include various photographs, our logo, and a brief description of our product. The advertisement will encourage Readers to visit our website for more details. Discounts 3. E-mail Gift Sift will use user’s email addresses in order to remind users when upcoming birthdays, holidays, and anniversaries are approaching. Through sending emails on and before this date, users will be reminded that our company can aid in their shopping endeavors. 1. "Like" On Facebook Customers that “like” the Gift Sift fan page on Facebook will receive a code that will discount their one time membership fee by one dollar. This will help promote our product because Gift Sift will show up as a fan page on each Facebook user’s profile that likes our product. 2. Email Coupons Promotional Events Gift Sift will promote online on the website and in the community. 1. Online Promotions Marketing Mix Advertising Gift Sift will place advertising using our logo, a brief description of our services, and a link that will direct users directly to our website. Through fostering relationships with companies such as Google and Facebook, Gift Sift will be able to advertise on two of the World Wide Web’s biggest companies. Gift Sift will offer discounts via Facebook and Email. Gift Sift is an online website service that aids users in picking out gifts. Through using a our new Gift Sift Search engine, users can browse through thousands of products from hundreds of retail stores. To narrow down results, registered users have the option of creating personal Giver and Gift Giving Accounts in order to organize information about the people they buy gifts for on a regular basis. Finally, gifts are either shipped to the user or the reciever, or are able for pickup in the local retail store. Gift Sift is committed to giving back to members in the community who are not fortunate enough to utilize our services, or even receive gifts at all. Therefore, our company started the program Gift Sift Gives Back. During the Holiday season, for every gift that a user buys, our company will give one back to people in need. It is our mission to have every person have a gift during the holiday season. Having a program that helps people shows potential customers that Gift Sift is a company that is interested in more than just profits. If further encourages online shoppers to join our site because while shopping for their personal needs, they also have the privilege to help someone in need.
Gift Sift will hold sales on the website for various occasions just as retail stores offer reduced prices in their stores. Sales could include Gift Sift’s One-Year Anniversary Sale, a Happy Holidays Sale, and a New Member’s Sale in order to bring more traffic onto the website. Strengths • New Addition to Online Shopping: Online gift shopping is not very well-known and is not used by many current online vendors. The use of the internet shopping is more used for oneself, as opposed to shopping for others. This new idea will create a very current and innovative way of shopping for other people, and creating gift ideas unthinkable to the average person. • Work off of others’ weaknesses: As a new company, the creators of Gift Sift are able to look at the current market and see where other online shopping vendors have gone wrong. Gift Sift, with new, innovative ideas, can work off these weaknesses to produce a better product that no one else has ever seen. • Team expertise: The creators of Gift Sift are all young women with new eyes and ideas to enhance the online market. With young women, creative ideas, lost to the old eye, will be incorporated and current to the evolving lifestyle of the world. • Web development expertise: Gift Sift will work with US grown web development firm to produce the most efficient and quick online source Weaknesses • Verifying website efficiency: It is very difficult to prove the products, the possible gift ideas, presented to the customers are the best choices as gifts. In theory, the site presents customers with the best gift ideas for their significant other. However, there are always doubts that customers are not presented with the best ideas, an argument that must be proved. • No brand name: Gift Sift, as a start-up, will not have the credibility most already-established online sites have. Without a brand name, Gift Sift will have to work to create a customer-base, via customer satisfaction and wide range of products, in order to make the company known among the already developed websites. • Broad target market: Although Gift Sift does particularly target ages 10-14 and ages 30-40 online users, the market can be much more broad than this. As a result, attracting all potential customers will be difficult and cost threatening. • Absence of industry “influentials”: As a new company in the market, Gift Sift does not have any current resources to attract influential industry managers. Opportunities Threats • Unique site: Gift Sift is not just an online shopping tool, but an online database that presents customers with a wide range of gift ideas. • Developing market: Online shopping is rapidly increasing, becoming more and more popular among consumers, located in the early maturity phase. • Online Retails: In 2010, online sales posted a 14.8% growth. It is projected that in 2011, sales online will drop in growth to 13.7%, but will still be at a commendable $188 million. (3) • Online Advertising: It is projected that online advertising spending will expand by 14% in 2011, a number that will only expand to 19.2% in 2011. (3) • Merging competition: As a new and threatening idea, current market leaders may team together to establish strategic alliances before Gift Sift can prove itself. • Susceptible to copying: Competitors may find Gift Sift’s ideas threatening and find a way to copy them before the new company can establish and protect itself. • Inadequate differentiation: Although Gift Sift does have a very sustainable competitive advantage, customers may not recognize exactly what sets apart Gift Sift from other online shopping sites. (Aka Google 1) • Other markets’ competition: Gift Sift not only has competition from other online sites, but also from physical retail shops that customers can actually go to shop. Finding and buying the perfect gift for someone is often times very difficult, a task that becomes extremely difficult when taken on alone. Gift Sift produces possible gifts with the giver, the receiver, and costs in mind to ease the mind of the customer. 1. User's Have Help 2. Gift Giving is Not Easy Tie for dad, coffee mug for mom, baseball mitt for brother; this all gets very old, very fast. Gift Sift utilizes all information given, including former presents received and the customer’s preferences, to generate a sound list of possible gifts that the receiver will love. 3. Special Features Gift Sift does not simply create a list of gifts, but also has many special offers and reminders that make gift giving fun and easy. Gift Sift will send reminders, to both phones and emails, to alert customers of an upcoming birthday or holiday. In addition, Gift Sift has many great promotional opportunities that customers can utilize to save money. Gift Sift’s features and efforts show that the progress toward creating a website that produces a wide range of perfect gifts is met with an effort to override the issue of finding and purchasing the perfect gift for a loved one. Gift Sift’s ideal customer is one looking for the perfect gift for a person from a different generation and one of the opposite sex. Ideally, this means a father looking for a gift for his daughter or a mother looking for a gift for her son. The ideal customer also is an advanced internet user, and is up-to-date with the recent technological advances, such as IPhones and Smart phones. Market Growth Market Needs Market Trends
The use of online shopping has recently been increasing throughout the world. Customers are beginning to be more willing to shop online because of the less time it takes as opposed to shopping at stores.
The underlying purpose of online shopping is to allow individuals to confidently post credit card information while speeding up the buying process in an efficient, easy manner. Furthermore, online shopping works to capture current online users while also engaging new customers into the market. Internet users are beginning to adapt to online shopping and beginning to trust the internet with their personal information. Company Overview Mission Statement Goals Competitive Advantage We are the World Wide Web's only gift search engine.
More convienient than visiting retail stores or other retail websites.
Our customer service sets us apart from others.
We are in a maturing market.
Fresh, new eyes to look at problems in a different way. *New innovative shopping experience
*A faster, easier alternative to shopping in stores
*To build lifelong customers through superior customer service
*Gain a high volume of users through our marketing endeavors
*Create happy, healthy environment for our workers
*Utilize word-of-mouth advertising through satisfied customers Gift Sift’s mission is to provide consumers with an easy to use online gift-shopping site. Our site will provide users with innovative tools to help narrow, refine, and enhance their shopping while also using exemplary customer service to surpass the typical retail store or online shopping experience. 10. Auto Give One of our most distinct features is Auto Give, a program that users can elect to use in which gifts are automatically selected and shipped to a person based on the information in the Gift Giving profile. Our technology will use the hobbies, interests, and survey provided and choose a gift to be sent to the person by their birthday or other occasion listed on the profile. . This feature is perfect for busy Gift Givers who do not have time to visit the site, or for forgetful users who will not remember to purchase gifts on time Presented By: Erin Edwards Alison Meagher Jaime Rust Maria Courtney Conclusion Any Questions? Marketing Strategy Segmentation Targeting Positioning Retail Partnerships Retail partners will buy the rights to put their products on our website. Purchasing the rights to partner with our website will vary based on the size and products sold at each retailer. Retail Partners will receive 100% of the money that their product costs in their retail store. Gift Sift will receive profits from the membership and shipping costs in addition to the retail stores leasing space on our site. For an extra fee, companies can earn the right to have their products show up first when searched for. Introduction Does this look familiar? Gift Sift will change the consumer’s attitudes of dreading gift shopping, to making it a easy, satisfying, and fun activity. Gift Sift is focused on assisting consumers on finding the perfect gift for their loved ones. Instead of searching for hours for a gift, and receiving a “less than enthusiastic response”, our users will find gifts quickly that their loved ones will greatly enjoy. We will focus on targeting the baby boomer generation and generation X. Overview Marketing Strategy Our Product To ensure customer satisfaction we will offer a variety of services to make the customers experience more enjoyable. Gift Sift offers the use of a personal Giver online account. Once registered, customers can search through the wide variety of products Gift Sift offers. After making an account, the customer has an option to use the Gift Giving Profiles service. Promotion Our promotion strategy will be heavily focused on different types of Advertising. Advertisements briefly explaining our company will appear on Yahoo, Google, and other large Internet companies, which will allow us to be seen by people all over the world. Moms and Dads of Generation X
(Ages 33-44) Baby Boom Generation
(Ages 50-65) Kids
(Ages 10-18) Large Department Stores and
Chain Stores Our company wants to target these stores because they have a wide range of customers who are very loyal and have a great deal of trust in what these companies say. We intend to target these stores in hope that they will buy the rights to sell their products on our website. Their participation on our site would cause their loyal customers to take us seriously and trust us as well. This is the second most important market to our company because it is children and young adults in this age range who have parents in our primary target market. This age range is where children start to distance themselves from their parents but it also when the gifts they want start to become more diverse. This market segment is also attractive to our company because we are relying on them to spread the word to their parents about our site. We plan to target this group primarily so they will tell their parents about it in hopes that their parents will use it to get them better gifts. We also anticipate that they will use the site themselves to buy gifts that are more original for their parents. This is our most important target market because this group is the most likely to have children between the ages of 10 – 18. This is most often the years where there is a gap in knowledge on the parents’ part about what their children are interested in. This market segment is attractive to our company because many of the parents who fall into the age range of 33 to 44 would be interested in having an easy and simple way to find suitable gifts that their children would love. Another important target market is the Baby Boom Generation . In recent studies, research showed that this age range spent 78% more on online shopping the customer’s ages 18-25. This age group is also likely to have children from ages 10-18. Therefore, this group would be very likely to use our services to help shop for their kids. Gift Sift Gives Back We plan on using the program Gift Sift Gives Back to help associate our company with the caring, giving and helpful service we strive to provide. This program is all about giving the buyer the sense that they have given back to the community. We believe that this appeals to our target market because parents want to teach their children about giving back to those less fortunate or those who are suffering, and Gift Sift Gives Back is a great way of doing so. Our second method for attracting our target market is using Internet ads on large sites such as Facebook, YouTube and other social networking sites where parents from our target age range will see the ads. Children from our target age range will see the ads as well and tell their parents about it. We will also use billboards in states more populated by our target market such as California. Advertising Gift Sift is gift giving done right. We strive to provide a product that not only helps you find original and satisfying gifts for your loved ones. Gift Sift wants to provides excellent “gold standard” customer service that is meant to surpass any other retail or online shopping experience. Customers should associate our company with a powerful tool that can aid in giving, one of the most precious actions a person can undertake. Product Life Cycle Gift Sift’s goal is to provide an online tool that enables customers to quickly and efficiently find and buy gifts for loved ones. Gift Sift recognizes that finding the perfect gift for a significant other can be time costing and very difficult, especially for fathers finding gifts for their daughters, as well as mothers finding gifts for their sons.