In 2002, Jimmy Beans Wool, an online yarn and fabric retailer with brick and motor store was founded by Laura and Doug Zander in Reno, Nev. After five years their sales were $1million and they topped $7million in 2013. Soon after their remarkable growth at an annual rate of 50% they wanted to make their company as $100million company. In order to achieve this, Ms. Zander consulted many experts and became ambassador for their company, spent more money on advertising, expanding warehouse, traveled many places, wrote books and teamed up with United States Ski and Snowboard Association and support of Heart Truth for market initiative. They have employed new full time employees for marketing team. Despite all these strategies and measures, company sales diminished.
Recommendations:
Company should first establish a strong foundation locally through brick and mortar stores and expand its operations to more local areas.
People tend to believe from friends and family rather than trusting online advertisements for the products of the company which is trying to establish itself as a brand.
Connect to social media through tutorials, conducting campaigns about woolen easy crafts would bring product closer to people and people get to know uses of the wool and fabric.
Customizing fabric designs as per requirements of the customer helps in creating more opportunities for the company.
Delivery of the products by samples gives the idea for the customers about the product and usage.
Write a summary of the case study of the case above. Research and describe at least 3 technologies that could be used to support or enhance the business in the case study.