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ling leung

on 27 November 2014

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Transcript of Introduction

(1) Discount and allowance pricing
 reward the customers
 e.g. buy 1 get 1

(2) Promotional Pricing
 Demand and short-run sales
 set the price temporarily below list price / cost

Esprit  Value : low (NOW)
Follow closely selling
Too many pushing questions
Feel Bother & Pressure
(E.g: “Can I help you?” / “Which one do you like ?”)

Very actively seek persuade salesforce
General presentation / Demonstration ONLY

SWOT Analysis
Selling Methods
Personal Selling Skill
Background of Esprit
Company Analysis :
Market changes : Slow response
Fashion trend : Slow response
Delivery time : Slow
Product : Old- style
Competitors : Strong
 Losing appeal to consumers
Transformation plan :
BY: New Strategy
Brand Positioning & Awareness : Strong
Balanced contribution of retail & wholesale
Good portfolio set up
Retail stores : 2000
Wholesale customers : 8000
Skilled workforce

Limited presence in some countries
e.g Australia

Frequent brand switching due to intense
Loyalty Low

Tap the growing earning population

Growth of casual wear market

Low manufacturing and production cost

Intense competition
-substitutes ( e.g. H&M , Zara )

Cost of raw material

Slow Response to Market Trends
Target customers : Youngsters
Market positioning : Unclear
Products' life cycle : Too long
Slow response to fashion trends
satisfy customers' wants and needs
(1) Fast Fashion
(2) Listen to customers
(3) Physical Environment
(4) Exchange & Refund Policy
Selling Methods (1) Fast Fashion
Aims :
Clothing Collections
Fast Response
= Period of Preparation : 6months  8-12weeks =
New items every week
creating an image of scarcity  irresistible( limited supply)
snapping up new clothes

keeps customers coming back again
Customers Check out the latest products

Enhance the sales quickly
Cut losses quickly
Move on to another new trend quickly
Motivate people to visit
 visit other stores: ↓ frequent

Selling Methods (2)Listen to customers
Make investments (2012-2014/15 )
Aims :  Find out customers’ awareness of the brand
customers’ expectation
Result : Fashionable
Value for $$$

Reviews its customerand market from time to time
Designs based on customers’ need & fashion trend

Selling Methods (3)
Physical Environment
Before the transformation plan

Esprit = boring brand
Refund & Exchange Policy
Relationship : Short-term
Refund & Exchange policy : ↑ Satisfied 
= refund or exchange another clothing
Enhance opportunity to buy & visit
Make customers feel comfortable to shop
Good image  brand
short-term sales

Benefits :
Before Transformation Plan:
Personal selling skill
After Transformation Plan,
Esprit brand : Casual wear
Sales Advisors' Position : Fitting room /Cash registers
Service format : Self service
Self service shopping more enjoyable
ell :

Reduce pressure feeling
Comfortable and delighted
Different employees from different department
have different selling skills

For women’s section:
More suggestions & help to choose right clothes

For kid’s section:
play with the kid make them laugh & delighted

Importance: Women's section>>Kid's Section

Retail Stores : >770
Products : Clothing & home lifestyle
Brand : Famous & International
Business Performance : Unfavorable
Sales : Falling
NEED : Transformation Plan !!!!!!!
Result :
Losing appeal to consumers
74.4% from 2010 to 2012
Re-establish brand : leading
Inspiring fashion
Regain the market share
Regain the brand image

201423605E Au Chun Fai, Franki
201423607E Li Shuk Yan, Daisy
201423609E Leung Mei Ling, Ling
201323061H Wong Yan Kei
201323051H Chan Siu Hong

The Effectiveness
(1) Fast-to-market product development
(2) Category management Fast Response
(3) Reduce Product range Reshape image
(4) Focus : seasonal product Lower price
+ Keep quality

Fast-to-market product development
Innovation & Design : Too many resources
Focus : Improvement & Sales management
Production: Small quantity & Short Period
Manufacture & Storage time : To Shorten
Inventory Turnover : 90 days = fast fashion trend intersection

New items every week
Attract more new customers
Remain Customers

Category management
Concentration : Product category
Different teams
Response to market fashion trend  Fast
BY : Product improvement, supply chain, sales & customers’ comment

Communication & cooperation of design and sales : Strengthen
Understanding customer wants & needs

Reduce the product range &
Reshape the image to the customers
Exclude  Underperformance product
Strictly redefined the product area Teenagers
 Follow customers’ shopping habit
 Refreshing the product design
 Provide a better shopping experience

Focus on seasonal product & new pricing model
Monthly collections before
 NOW : 4 seasonal & 2 seasonal transitions
 Clothing series

Focus : Key product  ↑ Order quantity
Production cost
Effectiveness :
Product  Lower $$$ + Keep quality

(1) Change in promotion mix
(2) Utilize Internet resources
(3) Product pricing
Suggestions (1)
Change in Promotion mix
SO : Advertisements in television shows
Awareness ↑
Value ↑
Capture back consumers’ attention

Suggestion 2
Utilize Internet Resources
Selected Marketing Stratesgy
(1) Pricing
sets a low initial price
penetrate the market quickly
e.g. new product pricing

Factors : -Economic conditions,
-Competitive conditions,

(3) market-penetration pricing
(4) International pricing to adjust prices
(2) Promotion
Example (1)
Smartphone ( Facebook & Instagram )

Example(2) – sales promotion
Seasonal sales, Special sale

(2) Promotion
(3) Products

Design high quality products + Affordable price $$
Aims :
Fashion Design
Make differentiation
Diversify its customer
 e.g. sub-brands : de.corp” & “edc
Performance : NOT Good
( good : H&M & uniqulo )
After of Transformation Plan:
Online Shop : Some regions
Hong Kong
Suggestion 3
Product Pricing $$
Product Pricing : High
( Compared with H&M and UNIQLO )
Popular : NOT enough

Customer valued pricing strategy
 meet customer’s expected value
Competition-based pricing
Greater seasonal sale

Online Shops' Effectiveness :
-More people concern the brand
-Easy to compare
-Easy to pay
Selling Methods (4)
Small Quantity Production
= Few items are on display
create a sense of tantalizing
Create the value from product differentiation
enhance the sales quickly
cut losses quickly
move on to another new trend quickly
motivate people to visit Esprit
 Times of visiting other stores :
Benefits :
Selling Methods (3)
Physical Environment
Aim :
Strengthen the brand
Shop Refurbishment
(e.g. "Lighthouse" stores)
 More natural & relaxing environment
 Attracting customers
 Sharpen the brand image

New branding :
An inspiring & fashionable brand
well known fashion brands
Varied product lines

(I) Background of Esprit
-Company Analysis
(II) SWOT Analysis
(III) Selling Methods
- Personal Selling Skill
(IV) Selected Marketing Strategy
(V) The Effectiveness
(VI) Suggestions

Quick Response
Small Quantity Production
Fashionable Image
( If I don't buy it now, I'll lose my chance. )
The latest fashion trends
Full transcript