FINAL MAJOR PROJECTMarketing | Business | Analysis
My Final Major Project at university allowed me to focus on a subject and area that I found profoundly interesting and something that I wanted to go into in the future. I decided to focus around a new business concept called Selfridges + which I created a full business plan for including research, the market, SWOT analysis, consumer analysis, feasibility study, financial considerations and risks. Alongside this I created a full marketing plan which considered market segmentation, CRM, Situational analysis, PR, collaborations and creatives. Selfridges + is a brand new multi-feature app for smartphones and tablets that is powered by Selfridges, aimed primarily at the 26-34 female market. Launching in June 2017, Selfridges + delivers a service that allows the user to browse, shop, scan, earn points and receive tailored information specific to their shopping activity. Selfridges + replicates the in-store environment and operations bridging the gap between online and in store and appeals to consumers of any geographical distance to use the app and engage with the brand giving them a 360 degree of the Selfridges brand. The service operates under the Selfridges umbrella after primary research unveiled the need for the department store to have an app to keep up with competitors, drive sales and reflect store practices online to engage the consumer. Primary research also uncovered the need for a rewards scheme by the retailer and therefore these two outcomes have been combined to create a fully integrated app. Selfridges+ is a service developed in line with the demand for an app that serves multiple features and to coincide with the changing omni-channel lifestyle that savvy shoppers are adopting within the retail climate. The aim of the app is to provide consumers with a convenient, yet exciting shopping experience that crosses between in store and online and gives the consumer of Selfridges that ‘plus’ factor that they wouldn’t get without the app. To suit each user on the app, rewards can be handpicked, information can be tailored and content is changed frequently in order to reflect what the customer is looking at, what they are saving into their wish list and where they are geographically. Selfridges+ aims to increase and account for 15% of all of the retailer’s sales by year three of operation and this will be achieved through outlining the benefits to the consumer through the direct marketing efforts inside and outside of the store itself. By month three, the concept will be profitable due to Selfridges high trading and business enterprise. Overall Selfridges + aims to increase sales, improve consumer loyalty and optimise the highly mobile consumer base that is evident within the Selfridges business. The app will be a three-dimensional concept with features that reflect the exciting store practices. |
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