Tom Ford Harvard Case Solution & Analysis

Tom Ford Case Study Help

Promotion:

In terms of creating a separate and special entity, the company will make heavy investment in the advertising area. The company will adopt marketing strategies, such as: social media marketing to gain the present market through creativity and innovation. A number of international clients and celebrities will be associated in the organizational marketing strategy.

RACE Framework:

Reach:

In order to build the brand awareness, the ways of promoting brand products to reach the target market social media marketing would be used. This primarily includes social media platforms, such as:Facebook, Twitter, Instagram, and etc. in order to increase traffic on the website.

Act:

As the website traffic would show significant growth, there will be a chat box on the front page of the web available for the customers if we can assist them by any mean in order to improve the interaction with the clients. Similarly, after spending 5 minutes on the web-portal, the user will be asked to create an account to have access to the details of all the available products on the website. Additionally, the clients will be notified with a 24-hours customer service available on the website to improve their surfing and shopping experience and get the answer of their queries.

Convert:

The provision of improved customer services to each client on the side will be assisted in getting the products of their choice. As the website visitor has successfully placed an order, the web-management will provide the client with two options i.e. online payment or cash on delivery. The availability of two types of payment options are as per the client’s convenience.

Engage:

We will make every effort to make our customer satisfied, as consumer satisfaction leads to improved and efficient sales growth through repeated sales to same customers.

KPI of the marketing campaign:

The Key performance indicators for the marketing campaign would primarily be based on each RACE factor i.e. new clients, audience share, and revenue per visit are the key performance indicators for reach, convert and engage, whereas bounce rate, per page visit, conversion of product page are the KPIs for Act. Reach is associated with awareness of the brand and number of visits on the website; act is associated with consumer interaction; convert is associated with sales and profit generated by the web-portal in return to the sales; whereas engage is associated with consumer loyalty and advocacy based on the satisfaction of the consumer.

Budget of marketing campaign:

In the initial stage of brand re-launching, the marketing product in 6-month period will be higher in first-half to create brand awareness, increase sales and web-traffic. Whereas in the second-half, the marketing cost would be reduced based on the level of brand awareness and will be further decreased in the third-half due to significant brand awareness and increased web-traffic and sales.

Conclusion:

Considering the evaluation of the customer response of the Tom Ford luxury Fashion brand in the United States, the re-launch of the brand is considered important due to the positioning of the brand in the low-price and low-quality segment. The re-creation of the branding strategy is mainly based on the differentiation in the age group, target market, marketing strategy and product limitation. Thus, through such changes in the current marketing strategy, the Tom Ford brand would significantly increase the sales, bring reduction in the bounce rate, and expansion of target market i.e. from upper-middle end to high-end market consumer market and the availability of two types of payment options are as per the client’s convenience.

Recommendations:

Based on the analysis, the recommendations for the further improvement in the brand awareness and increased sales mainly includes;

  1. The expansion, reinforcement and communication efforts in the Middle-eastern countries, Asia and European region.
  2. Bring improvement in the digital presence through social media marketingparticularlythe widely used social media platform i.e. Facebook to allow 98 percent of the target audience to make online purchases on your brand.
  3. Development of e-stores in order to focus on the developed and developing countries to offer them with incomparable exclusive service.
  4. Featuring luxury goods in the fashion store serves as to the mass consumer market to enter the arena of luxury goods.
  5. Make sure to provide customers with high-quality products with on-time delivery and attracting product packaging.
  6. Provide access to the customers to get in touch with the customer service team.
  7. Satisfy the needs of customers and get feedback through online survey.
  8. Keep the product prices affordable to build consumer loyalty towards the brand.
  9. Add new features, styles and designs in the RTW products according to different events to make it easy for the consumers to differentiate products.

Improve the customer experience to retain them and persuade them to return to shop again.................................

 

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