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Kirkcaldie & Stains Ltd
Transcript of Kirkcaldie & Stains Ltd
Presented to: Kane Landers
Traditional and prestigious Wellington department store.
Celebrating the 150th birthday in 2013.
Wide range of premium products: clothing, cosmetics, children's clothing and toys, homeware, and gifts.
Trendy females who are quick to purchase the latest trends.
18 to 26 years old.
Purchase from a few rented spaces such as: Mac, Mecca, and Kiel’s cosmetic counters.
2) The New Breed
1) The Well-to-Do
Upper-class females with a high spending ability.
Enjoy shopping and the fine things in life.
Within this segment are males with discerning taste, dressing to project their current and past successes.
Modify brand position to realign with the modern consumers.
WHERE TO NEXT?
Objective: extend product offering to cater for The New Breed segment, in order to increase market share by 50% within this market.
Penetrate the New Breed segment
(via product development)
While retaining loyal current customers
Objective: focus on customer retention, in order to gain a 60% repeat purchases rate from the Well-to-do Loyalists.
Continue differentiation strategy
(maintain prestige brand image)
Focus on offering what online cannot.
2012 = $1,760,000
pre tax loss
2007 = $1,661,000
pre tax profit
FIVE YEAR PLAN
Develop customer database.
Product line pruning.
Start store revamp (atmospherics).
Create awareness of Zara launch.
Launch Zara – event night.
Create awareness of Jack Wills launch.
Launch Jack Wills.
New IMC plan: integration of digital and offline platforms.
Database marketing implemented (relationship focused and targeted marketing).
Loyalty scheme upgraded.
Create awareness for French Connection launch.
Launch French Connection.
Café revamp – cater for high teas and other events.
Create awareness for Lululemon Launch.
Store revamp complete.
Coincide with modify of Logo and other promotional material.
Weakening financial position:
Threat of specialist stores.
Identical products increasingly available online or from local retailers.
STUCK IN THE PAST
Kirks focus on heritage has allowed its product and brand image to become out of touch with changing tastes and preferences of today’s consumers.
No longer dictate seasons trends as it did in that past.
The way customers search and purchase is evolving.
Competitors are adopting new technologies to improve distribution, communicate with customers in a more targeted way and improve inventory management.
Create awareness for ACNE.
Fully functional transactional website.
Website update, product visibility.
Evaluate results and modify accordingly.
Look for new brands.