In: Economics
Discussion questions for different cases
Case 1 - Everlane Fashion
Q1: Discuss the strategy of Everlane to retain its “Click” identity in relation to the branding pressure to open conventional stores?
Case 2 - My Starbucks Idea
Q2: What advantage Starbucks receive over the competition with the social co-creation? Why many businesses are not using this technique?
Case 3 - Toms (A Social Entrepreneurship Business Model)
Q3: What are the components that made Toms a success?
Everlane started its operations in 2010 as an online menswear retailer and its motto is " Radical Transparency " which is very short and clear and it gives every transparency to its customers about its cost and also breaks down the cost into different parts, i.e. material cost, labour cost, manufacturing cost, transportation cost and mark-up, so due to this transparency of all the given cost and mark up it gives its users the compete honesty and this fascinates its consumers to buy its products and it also gives comparison of its product vis a vis other retailers products/branded one, Everlane gives its consumers access to its factories, its employees, their working condition and their ethics in working through photos and this ensures confidence to its customers about its ethical way of working and it use simple paper packaging to deliver its products and even stay away from plastics in packaging and this ensures its eco friendly nature which suits customers mentality and they find more reason to buy its products.
By giving transparency of its cost and even breaking down each and every cost and thus saving lots of money and by focusing on online retailing and even its collaboration with Postmates in order to deliver its products within an hour in any part of USA makes it possible to retain its click identity in relation to branding pressure to open conventional stores. Its main strategy is to relate itself with customers need and their need of transparency in pricing which gives itself the upper hand in retaining its image which helps it in increasing its sales and customer base and it also does apply strategies of referral programs which helps it to gain customer base and increase in its sales and revenue.