Please read the case and complete the report. Remember to review the case for small details that will help you with the decision process. Use the retail strategy planning process to guide and support your work. The grade value for each section is in the evaluations section of the case and a ru
ic has been added to the assignment dropbox in eConestoga with further
eakdown and details. Pease reach out in the question portion of class this week or via email with any questions.
Over the Rainbow – The Case
Welcome to ‘Over the Rainbow’, Toronto’s #1 premium denim store. The iconic denim retail store was a vision that came to light in 1972 when Joel Carman, then a cab driver, met Peter Jackman who was the fare. At that time, Jackman made custom alterations to clothing. In 1974 Carman and Jackman decided to open a retail store focusing on alterations to customer’s clothing – taking in and letting out the seams and shortening hems to meet customer needs. The combination of excellent customer service and great product built a loyal customer base. In 1976 Joel Carmen and his wife Jinni assumed sole ownership of ‘Over the Rainbow’.
Jeans and denims became the sought-after clothing for the Blue Jean Generation, also refe
ed to as the Baby Boom generation, born between 1946 and 1964. Over the Rainbow was the only place to buy trendy jeans and the only jeans retailer that could do alterations to get the perfect fit. For nearly half a century - 46 years, Over the Rainbow has consistently served its customers offering premium denims to a stylish consumer in the trendy Bloor-Yorkville neighbourhood of Toronto. The trendy Bloor-Yorkville area is home to posh condos, high rise office towers, designer boutiques, Ha
y Rosen, Holt Renfrew, The Bay, Nordstrom, and the Eaton Centre three subway stops south.
Today jeans and denims are a major part of everyone’s wardrobe. Over the Rainbow’s “denim wall” ca
ies the best selection of
ands and styles for any fit, for any age, offering many denim shades. Jeans are now only 50% of total sales while tops, outerwear and accessories provide a lifestyle image to product lines.
With an eye on the trendy consumer, marketing the Over the Rainbow
and to the upscale shopper became a strategic challenge. In 1982, Wayne Gretzky became the
and’s first cele
ity endorsement. In 1999 the introduction of UGG footwear to Over the Rainbow exceeded expectations and had customers on a waiting list for new a
ivals. In 2001, Over the Rainbow em
aced technology and launched rainbowjeans.com. In 2014 ‘High Snobiety’ lists Over the Rainbow in their “Top 15 Best Denim Stores on Earth”.
There is no doubt that the past two years have been a very difficult time for independent retailers. Covid restrictions locked down retail store locations causing logistical problems affecting staffing and supply management. Supplier relationships became vital to maintaining trust and to perpetuate an ongoing business. Threats to retail operations came with the new dynamics of how customers learned to shop. Online sales became a battleground as manufacturers began to promote online and sell direct to consumer. Caught in the middle was the independent retailer with store location costs, inventory costs, the cost of maintaining staff, and costs to train staff in new management areas. The Covid environment encouraged customers to shop online, and huge financial gains were made by big box retailers, departments stores, Amazon and discount retailers. Major retailers gained with low price offers, and cash back rebates from manufacturers if the stated sales targets were not met. Many independent retailers could not survive in this cutthroat environment.
An active presence online using social media, Facebook, and Instagram to drive online sales to the trendy website for Over the Rainbow was a lifeline to surviving the Covid lockdowns. Em
acing technology, observing market trends, and retaining its core value of a great customer experience has led to Over the Rainbow emerging intact from a difficult time. Now looking forward, the business environment for independent retailers has changed and new challenges have emerged post-Covid.
Over the Rainbow is a family-owned independent retailer and online retailer specializing in premium denim. You have expertise in the retail industry and have been asked to consult on steps forward post-Covid for Over the Rainbow in their new upscale 6,500 sq ft location at the Manulife Centre, Bloor Street West. Consumers are predicted to em
ace life with renewed interest in fashion post-Covid.
The Assignment:
Over the Rainbow is looking to attract the trendy jeans shopper in Spring 2022 through an omnichannel strategy. They are looking to provide unprecedented freedom to choose where, when and how consumers can engage with their
and.
Deliverable Report Items:
· Cover page: including team member names and student numbers, date , course section and report title.
· SWOT:
· Brief 3-5 items per category
· GROWTH STRATEGY:
· Identify one of the four growth opportunities identified in week 2 that will provide or support Over the Rainbow with the growth strategy they are looking for.
· Support the growth strategy selection with data from your SWOT
· ALTERNATIVE:
· An Omnichannel Alternative that attracts the trendy jeans shopper to Over the Rainbow in Spring 2022
· Validate the alternative as to why it is the best idea for Over the Rainbow to pursue
· PROPOSED MARKETING PLAN
· Write a clear, focused SMART goal for the marketing plan
· Complete and include a Persona target customer profile. A PDF guide is attached
· RETAIL MIX:
· Address each of the 6 P’s of the retail marketing mix as discussed in week 1 and 2 (product, price, place, process, people, promotion)
· Include specific actions to implement the alternative growth plan. Actions should be specific, actionable and related to a specific P
· Include a timeline or operational plan with details
Reports should be in a MS Word.docx file, submitted to the assignment folder by the due date and time. Reports submitted late will receive a grade of 0 (zero).
Evaluation
The case evaluation will use the associated ru
ic attached to the submission dropbox. The assignment is worth a total of 70 points.
· SWOT – 12 points
· Growth Strategy Selection – 6 points
· Alternative Selection and Support – 6 points
· Target Persona Profile – 8 points
· Marketing Plan – 28 points
· SMART Goal – 4 points
· Target Customer Statement – 2 points
· 6P Marketing Mix – 3 points per P.
· Timeline – 4 marks
· Conventions- 10 marks (Spelling, grammar, sentence structure, formatting, sourcing)
Marketing Plans & Presentations MKT2145
Persona Name
Demographics
Gender: outline gender
Age: enter number
Location: geographical
location
Education: high-level outline
Occupation: Outline job title
and annual salary
Marital Status: State status
Photo here
“Create a quote of what your target market would have on their mind here”
Motivations:
Here - outline what motivates this person to act. This
information should take in to account your targets
Attitudes, Interests and Beliefs when it comes to your
specific industry. Why do they act the way that they act.
What behaviors are predictable.
Goals/ Needs/ Wants
• What is the person’s goals when looking for product
or service – as it relates to your
and
Short Bio/ Profile
Here tell the reader a
it about your persona
as background
information. A day in
the life…
Media Habits/ Platforms Used
- Use icons
Favourite Brands
- Uses logos/ visuals
Problem/ Challenge/ Frustrations
• What problem are they trying to solve – as it relates
to your product/
and
List a few personality traits that are relevant