The Source: Canada’s Most Trusted Electronic Shopping Experience

Natasha NehmetallahPrianka Jhingan

Sandra Gaganiaras

Currently, The Source is not able to reach full sales potential due to its inability to be top of mind with consumers and narrowing of a popular target audience. Situational Analysis Current State Desired State

Company The Source may be still identified with the out of date RadioShack

The Source has the latest technology at competitive prices.

Inventory suggest lack of specialty with the sales of camping gear, household appliances and musical instruments

Huge Selection of all the latest products from the top brands, in addition to products that can’t be found anywhere else.

Store layout is not inviting, with cluttered trade shop feel

Smaller stores offer more personal shopping experience

Social Media and online presence is low. Easy to navigate and informative website with live chat and an interactive social media campaign.

Competitors Not “top of mind” for technological fix. To be the go to place for all technological needs.

Big Box appear cheaper with a larger selection. Ex. Walmart, Best Buy, FutureShop

Realization that selection is high and a best price guaranteed.

There is a perception that online prices from a variety of sites are the lowest.

Online store makes shopping convenient with the option to try it out in store. Buying from the online store is creditable.

Customer Older, 55+ males who once shopped at RadioShack.

Trendy, young 18-35 year old males and females seeking the latest technology

Collaborators Seen as not offering the same brands as big box stores, with brands that are not the latest or in the highest demand

Perceived as having a large selection of the brands that are available in big box stores, with variety of options available especially online

Context Price conscious consumers, technology changes fast. Current demographic is males with the majority of the purchasing power in this sector

The market is evolving and who is dominating in this sector is changing (everyone wants the latest technology, not just men)

In order to achieve the desired state, The Source must include a larger segment, develop the consumer experience and clearly outline its position in the market.

Include a larger segment of the electronics consumer market

Develop the consumer experience

Clearly outlining the position in the market

Ensure Marketing Objectives have been fulfilled

Media platforms

• App development • Social Media• Collaboration with popular

bloggers

• In store promotions integrated with apps

• Provide consumers with easily accessible information (barcode scanning)

• Strengthen the image of The Source as being primarily a consumer electronics retailers

• Convenient locations and smaller stores

• Obtain 100,000 new email addresses

• Grow social community by 50% in fans and followers

Store layout • More interactive• Organize store by products • Reduce clutter • Showcase popular, in

demand offerings

• More inviting and appealing to younger audiences

• Have working models for experiential trials

• Showcase high end electronics

• Convey the promise to consumers that they are getting the best in the market for best price.

• Increase average ticket sale in store and online

More experienced associates and increase female-male ratio

• Attract consumers who are increasingly knowledgeable and realize they are attaining up to date information from those who are competent in the industry

• Female consumers will be more inclined to come to the store to be educated on the latest technology and not feel intimidated

• Provide consumers with support in store to ensure that they are well-informed and making educated decisions about their purchases

• Convey that they are an industry leader in providing consumers with knowledgeable staff who can assist with all technological support

• 5 million dollar increase in sales

Improved inventory model offering

• Consumers will be aware that The Source is a reliable, exclusive electronics store with in demand products

• Providing in-demand products, diminishing in-store clutter

• Focuses the consumer towards specialized technological products

• 5 million dollar increase in sales

Insight 1: The female electronics consumer is currently overlooked; The Source has the opportunity to cater more to their needs.

Female Consumer

17-29 years old

Trendy

Similar purchasing behaviour to males, but are more price

sensitive

Desire the recognition and status of ‘cool’

technology

30-55 years old

Intimidated by male dominant stores

Provide the latest technology to:

Themselves

Children

Significant others

Friends and family

Growing heads of households are

female.

Time impoverished

Insight 2: Although the desires of young adults aged 17-29 and women between the ages 30-55 are different, an integrated marketing strategy would appeal to both groups.

Provide easily accessible product

information

Facilitate sharing and transfer of knowledge

My name is Clair,

I spend a considerable amount of my time using electronic devices and desires the latest technology that my friends have.

I use these electronic devices both at school and at home. I consider myself as a trend setter.

Increase Social Media presence

My name is Martha,

I have little time to browse electronic stores. I’m Into technology, yet the shopping experience is intimidating, therefore I’m hesitant to shop at stores that are male dominated.

I’m price sensitive and usually purchase products for others with recommendations from the internet.

The Source must leverage the Consumer’s Journey to Purchase to leverage critical touch points and create Moments of Truth.

Need Recognition: Consumers realize there is a desire to satisfy a technological need for educational and/or personal purposes.

Information Search: Customer seek information on technological products through the internet and recommendations from trusted sources such as friends, family, bloggers, social media presence.

Evaluation of Alternatives: Consumers will be well informed and will be able to see that The Source provides the lowest price with the same selection as Big Box stores because they have been extensively engaged in the online community.

Moment of truth: Realization of what The Source offers and how it benefits the consumer.

Purchase Decision: Based on the evaluation, consumers will be inclined to choose The Source, not for a one time basis, but create a loyal relationship for all technological needs

Post-Purchase Decision: Consumers become brand ambassadors and create conversations within their social circle - online and through word of mouth.

Expanding our media platform will help to reach a younger and more diverse target audience and guide them through their journey of purchase.

App Development to enhance customer

experience. Empowers customers with knowledge and

accessibility to products and services.

Andriod iOS

Windows

Enhancing Social media presence to encourage

communication between customers and company.

Ex. Facebook

TwitterPinterest

Engage target audience by providing them with an

interactive viewing experience. Leverage

forums and allows customers to share and create videos with the

technology community. Ex. Technology YouTubers

and commentators.

With the marketing objective of increasing our followers on Facebook and obtaining email address, the source will provide a coupon or discount upon signing up for any one of our social media campaigns.

The majority of the social media budget will be allocated to Facebook and 8% of the total budget will be allocated to mobile app development and maintenance.

Budget for Application Development: $45,000 for a 10 week development

• Design including wireframes, mockups, final – 3 weeks $7,500

• Development -6 weeks $24,000• Questions & Answers – 1 week $2,500• Further Upgrades and maintenance -

$10,000

Developing an easy to use, informative application for mobile devices in order to enhance consumer purchasing power, simplify the complexity of the technology experience at and before the point of sale.

Elements and Benefits of Developing a Mobile Application for The Source.

Elements Benefits for Consumer Benefits for The Source

Barcode scanner Allows information and comparisons immediately on the product they are interested in purchasing. 72% young adults use mobile to compare prices.

Able to track which items are most frequently considered.

Points Collector Allows for incentives and rewards based on purchases through collecting points.

Tracking consumer behaviour for direct advertising and demographic information.

Store locater Shows consumers the convenience of The Source Locations. Perhaps compare to Best Buy and Wal-Mart.

May increase traffic from interested buyers who would otherwise not know they were there.

Wish lists Easy for communication between customers for gifts. Makes shopping more involved between friends and family.

Allows them to anticipate consumer needs and recommend related products.

Money Transfer Easy Gift Card transfers through App no matter your location. To be perceived as a convenient place to give gifts.

Payment Options Pay directly from mobile phone for faster checkout. Allows to serve customers more efficiently.

Appointment with Staff Allows for 1 on 1 consulting and a more intimate experience. Deal with issues head-on and increase customer satisfaction and experience.

The Source will benefit from having a more established social media presence to connect with customers with a more personalized platform.

Generate brand awareness Engage customers through

promotions and contests Drives traffic to main website Reputation management of

company New customer acquisition Lead generation Client retention The “cool” factor The viral effect Feedback mechanism

Budget: Hiring a professional dedicated to social media presence

Digital marketing specialist: $65,000 annually

YouTube is the ideal platform for The Source to convey its brand character and personality, while providing consumers total control of their viewing experience.

Connect to popular YouTubers who talk about technology or other videos by The Source

Easy integration with social media pages

Include clickable annotations which direct the consumer to more information and videos

Product information is readily available and research is not a daunting task

Simulating a real life experience and bringing it to life for the consumer.

Our creative will utilize rational appeals to connect with our target market. They will appreciate testimonials from other The Source customers regarding their buying experience and will link them to blogs written by employees highlighting popular products.

The website must be revamped to be consistent across media channels.

Testimonials can be accessed through blogs, Facebook and twitter.

Users can connect with other customers to discuss current technological trends

Ability to compare prices to competitors similar to the mobile app

Special offers will become available to customers through social media and partnerships with educational institutions

The Source will partner with local schools in their fundraising efforts, offering a percentage of sales as a donation for qualifying purchases

Liking The Source’s Facebook page and “checking in” will earn followers discounts

The Source Twitter followers can retweet company messages for special offers and discounts

The Source should modify its store layout to better serve customers with a more inviting space and showcase the most popular products with displays and demonstrations.

Stock room to store merchandise out of sight to cut down on clutter and be able to display offerings more effectivelyMultiple service

desks for quicker service

Free standing display tables with functioning products to give customers the opportunity to interact with products before purchase

The integrated marketing campaign will include opportunities for the consumer to virtually visit the store and be drawn to come in

The source should consider reorganizing their staff to include an equal male to female ratio of knowledgeable sales associates.

Make the job more inviting to females through training programs and increase female

presence in advertising.

This will make the target audience feel more comfortable entering the stores and asking

questions.

Employees are brand ambassadors

Empower employees to make decisions on the spot to best serve the customer without having to consult with a manager

Incentivize employees for blogging about the company and the services and products it offers

Offer employees shares in the company as a part of their compensation plan

How we will measure the success of this campaign.

• Likes, shares and tweets on Facebook and Twitter • YouTube views and analytics • Online sales versus in-store sales versus app sales • Google analytics • Use of Analytics of App Development • Salesperson tracking prior to initiative and after • Same store sales before and after