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Cobbs Mad Hats Case Competition
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Transcript of Cobbs Mad Hats Case Competition
Microeconomics 290 Spring 2016 Case CompetitionFriday, April 8, 2016Zach Becker | Sean Chokshi | Henry Cobbs | Ben Feighenbaum
Analysis
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What is Holding Mad Hats Back?
• Lack of popular products• Lack of distribution
opportunitiesProducts and Distribution
• Inadequate technology and poor websiteTechnology and E-
Commerce
• Saturated 18-24 market, untapped Generation Y market
Marketing and Demographics
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Cohesive Strategy to Reach MAD HATS’ Potential
YAdded focus toward
generation-yIncrease brand
exposureMore reliable and
engaging technology
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MAD HATS 5 Year Goals
Revenue GrowthGrow top line revenues at least 20% per year until December 2019
Leadership through Social EntrepreneurshipDemonstrate leadership through social entrepreneurship
Products with ImpactOffer products that positively impact global communities
Enhance the Customer ExperienceEnhance the customer experience by offering seamless transactions, diversified products, and friendly customer service staff
Develop more Effective Teams Develop high performing, motivated and capable teams
MAD HATS
Revenue Growth
Leadership through Social
Entrepreneurship
Products with Impact
Enhance the Customer Experience
Develop More
Effective Teams
Recommendations
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Overview of Recommendations
1. Products and Distribution
Increase marketing and diversify target demographics
3. Marketing and Demographics
Expand Mad Hat’s product line and brick and mortar retail program
2. Technology and E-Commerce Implement Site 2.0 and overhaul mobile app
Recommendation Part 1: Products and Distribution
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Expanding Executive-Level TeamFashion-Forward Products
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Add Chief Design Officer Position Add Design-Marketing Team
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Expanding the Product Line
Introducing theMAD HATS5-Panel
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
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Expansion of Retail Distribution NetworkNew Brick and Mortar Retailers
Existing Retail Partners:
Proposed Expansion to Program:
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Recommendation Part 2: Technology and E-Commerce
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Smart and Robust Tools and InfrastructureSite 2.0
Search engine optimization fuels traffic
High capacity, flexible backend infrastructure keeps site running, regardless of traffic
Email marketing tools keep customers returning
Customer rewards programs incentivizes loyalty
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
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Site 2.0: E-Commerce taken to the Next Level
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
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User accounts track past orders, demographics, and billing + shipping information
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Site 2.0: E-Commerce taken to the Next Level
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Chat feature for instantaneous, free customer service
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Site 2.0: E-Commerce taken to the Next Level
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Product suggestiontools drive sales
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Site 2.0: E-Commerce taken to the Next Level
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1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Site 2.0: E-Commerce taken to the Next Level
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Ratings and reviews vouch for our quality
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Site 2.0: E-Commerce taken to the Next Level
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Product suggestion
tools, ratings and
reviews, and chat for
help carried over from
desktop site
Blog style news-feed
delivers pictures, videos,
and articles about our
donation work, cultural
exploration, and product
announcements
Overhauling Our App: Harnessing the Potential of Mobile
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Recommendation Part 3: Marketing and Demographics
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FutureSpecial Release Dates
Celebrity Recognition
Humanitarian Promotions
Age Demographics
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
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1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Demographics: Defining Our Target Customer
Current age demographic, industry:
-40% generation X
-31% baby boomers
-23% millennials
Current age demographic, MAD Hats:
-22.3% ages 0-18
-45.1% ages 18-28
-10.1% ages 38-48
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1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Marketing: Creating Original Content on YouTube to Engage Customers
Sponsor high-profile YouTube filmmaker to create short film
Emphasize our humanitarian efforts and Ecuadorian culture rather than product
Model after Patagonia documentaries and Casey Neistat’s work with Nike, Fox, J-Crew…
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1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Marketing: Using New Media to Reach Our Audience
Casey Neistat YouTube Film for 20th Century Fox
Casey Neistat YouTube Film for J-Crew
Casey Neistat YouTube Film for Nike:
Patagonia YouTube Channel:
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1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Marketing: Using Snapchat and Instagram to Reach Customers
Tom’s Shoes and People Water use Instagram to show customers how their purchases are helping others
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1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Marketing: Sending MAD HATS Care Packages to Public Figures
Beats found success sending complimentary headphones to musicians and athletes often photographed and televised
Apple sent watches to public figures ahead of the launch
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Special Release Dates: − Release products on Ecuadorian Holidays − Promote culture behind products
Celebrity Recognition:− Send products to celebrities to represent brand for charity − Free brand promotion
Future:− Plan to attain sponsors− Other methods of marketing
1. Products and Distribution
2. Technology and E-Commerce
3. Marketing and Demographics
Results
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Expected 5 Year Revenue ForecastThe 5-Panel
Expected Market Share
• 0-18: 25% / 18-28: 25% / 28-38: 10%
• 38-48: 5% / 48+: 1%
Unit Sale Price
• $30− Same as the rest of the product line
5 Year Revenue
• $146,751,458.40
Yearly Revenue
• $29,350,291.68
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Forecast Model
Revenue GrowthGrow top line revenues at least 20% per year until December 2019
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