Stitch Fix Harvard Case Solution & Analysis

Stitch Fix Case Study Solution

Expansion of Business:

Although, Stitch fix has been performing well with different strategies in order to expand their business in international market such as communication with their target audience by sending emails every month, packaging and marketing with discounts on purchase of entire selection of five pieces and active presence on social media specifically on Instagram.

The only thing that is required by the organization to flourish their business more is their offline events for de-virtualization of their audience. No matter, the organization is based on online services, organization of activities and parties is a different way to attract wide range of customers. The organization should prepare an agenda to schedule events at the start of the year,with proper planning of time, and an appropriate use of marketing tools,and to take the advantage of efficient channels of communication. (Kolau, 2017)

Impede the company’s ability to grow

With the fact, there are many ways to through which the growth of the organization can either decline or increase, but it seems quite difficult to maintain the healthy growth at a steady rate. The speed and scale at which different industries have been transforming, has been unprecedented.The organizational growth planning is an activity of strategic business to set out goals.

Growth Keys:

  • Complexity –not about revenue but people
  • Every stage of the strategic plan has particular challenges
  • Every stage of the strategic plan faces a significant transition while entering in different stages.
  • Every stage of the strategic plan requires variation in styles of leadership.

Approach:

  • Assessment – for determination of stage growth with priority to the challenges faced by the company.
  • Results review and discussion of focus areas, goals and strategies
  • Action plan development to overcome, meet certain milestones of business growth.

Adopter Categories:

The adopter categories are actually differentiated into five classes such as innovators, early adopters, early majority, late majority, and laggards. Among all these adopters, the growth of stitch fix is associated with the following:

Early Adopters:

The most growing concern about the trends in fashion industry is shown by early adopters, which mainly involves teenage population. They have more opinions and expectations from the changes in the fashion industry, which increases the demand of the people belonging to any culture or status, for an innovation in the fashion industry.

Early Majority:

The group of people that greatly influence the fashion industry, and have the highest margin in the adopter categories, affect the trends in the fashion industry. Strong opinions and feed backs to the retailers and the stylist about what they need helps the large organizations in fulfilling the needs of their potential customers or clients with their efficient services.

A Channel Expansion Feasibility Analysis

Customers Data Input
Stylist
Product Development
Sale
Store Manager
Service Crew
Delivery
Client
Payment

 

This helps in determining if the task has been completed or not, through already available resources. This provides a clear identification to investigate the strengths and opportunities of implemented idea of business. The analysis is quite specific and focused. Though, outcomes through these analysis will be used in the discovery of potential ideas of business in rapidly growing fashion industry. (Laamanen, 2016)

Conclusion:

Stitch Fix works with an aim of transforming the way of selection and provide an ease to the people in order to let them find conveniently what they love. The three value propositions of Stitch Fix offered are Customization, Convenience and Price. The promotion on social media by sending mails to each customers every month about the new arrivals of apparel in different posts of Pinterest, Instagram and other.The only thing that is needed by the organization to flourish their business more is their offline events for de-virtualization of their audience. The organizational growth planning is an activity of strategic business to set out goals, which includes assessment, result review and discussion and action plan development. Though, feasibility analysis investigate the strengths and opportunities of implemented idea of business............

 

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