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The Key to Skullcandy's sustainable growth

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by

K Glee

on 29 July 2014

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Transcript of The Key to Skullcandy's sustainable growth

Who is Skullcandy?
Audio gear electronic company

Stylish approach & functional designs
Skullcandy should target the action sports segment of Gen Y internationally.
The Problem...
Skullcandy's rapid sales growth and increase in popularity could deteriorate their current image and consumer's attitudes toward the brand.
Objectives of Market Targets
Decision-Making Process
Simple Additive
The Key to Sustaining Skullcandy's Growth
Thank you!
Alternative 3: Product Development
Alternative 2: Market Penetration
Alternative 1: Market Expansion
Chosen Alternative
By: Brittany Barnwell
Knigi Glee
Patrick Lynch
Davis Prillaman

Sales Growth
Symptoms
1. Loss of exclusivity with
mass distribution, i.e. Best Buy
and Apple stores

2. Loss of Brand Identity

3. Decline in sales if viewed as a fad

4. Price competition
Increased market share from #10 to #2, btw. 2003 & 2010
Objective to expand into all Gen Y audiences
Industry growth from $1.15 billion in 2009 to $2 billion in 2010
Target Market
Gen Y action sports:
snowboarding/ skateboarding
Determinant Attributes
Comfort
Style
Price
Brand Positioning
Consumer individuality expressed
Functional Designs
Skullcandy should expand brand internationally.

Leverage the U.S. strong brand image within action sports industry to extend brand to other countries.
Alternative 1: Market Expansion
Pros
Cons
Consistent brand image & strategy
Remain in target market
Increased market size
Growing market segment
Low expansion cost due to online distribution
Possible international celebrity endorsers
Moderate risk
Increased expenses
Trade regulations
Lack of consumer knowledge
Does not target rest of Gen Y
Skullcandy should expand segmented target market.

Demo & distribute in sport shops with a premium on price.

Market promotion "Become a part of the skull with your own identity."
Alternative #2: Market Expansion
Cons
Pros
Maintain brand perception
Enhance market share
Creates brand relationship
Ideal segment reach
Fad product
Combat sports brands
Competitvely vulnerable
Skullcandy should create a new product.

Broaden audio products to wireless speakers.

Appeal to broader Gen Y market.
Cons
Pros
Alternative #3: Product Development
Same target market
Remain competitive in market
Increase sales
Expanded product offering
Consistent brand quality
Competitive market
Not functional for all action sports
High R&D cost
Potential change in brand image
Leverage the popularity of action sports around the world.

Look for strategic partners to increase brand recognition & retention, i.e. Athlete endorsers, X-Games

Remain focused on core values & image. Individuality and uniqueness are key to remaining successful.
Full transcript