International Marketing
Fayza Alabbasi Linh Duong Elaine Glover
BUSI 781 Prof. Jeremy Kobus
OVERVIEW William-Sonoma Inc. American multichannel retailer of high-end goods for - kitchens - bedrooms - baths Headquarter: San Francisco, California Subsidiaries: Pottery Barn, West Elm, Pottery Barn Kids Inc, Sells via 630 stores in 43 US states and in Canada, Australia, the UK, and Puerto Rico. Offers international shipping to customers worldwide, and have unaffiliated franchisees that operate stores in the Middle East, the Philippines and South Korea, and stores and e-commerce websites in Mexico.
TIMELINE
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TIMELINE
The World famous trivia game, Trivial Pursuit, is thought to have sparked people’s fascination with trivia and competing to see who knows more odd and rather interesting facts
MISSION "OFFERING QUALITY PRODUCTS AND OUTSTANDING SERVICE HAS BEEN OUR A GOAL SINCE THE FIRST WILLIAMSSONOMA STORE OPENED IN 1956. AS WE MOVE FORWARD, A SHARED COMMITMENT TO WHO WE ARE, WHERE B WE ARE GOING AND HOW WE WILL GET THERE WILL HELP US CARRY ON THIS TRADITION."
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Chuck Williams, Founder
VISION "OUR VISION IS TO ENHANCE THE QUALITY OF OUR CUSTOMERS' LIVES AT HOME. WE PUT THE CUSTOMER AT THE ACENTER OF EVERYTHING WE DO, EVERY DAY, AND A SHORT BUT IMPORTANT LIST OF CORPORATE VALUES GUIDES OUR ACTIONS AND DECISIONS."
INSPIRATION A FRESH PERSPECTIVE. A RECIPE FOR INNOVATION. A COMMITMENT TO CONNECTION. AT WILLIAM SONOMA, WE BELIEVE THAT HOME IS THE HEART OF EVERYTHING A PLACE WHERE CURIOSITY LIVES AND GENEROSITY IS SERVED. WHERE LIVES ARE NOURISHED AND EVERY DAY INSPIRES.
TECHNOLOGY Williams-Sonoma Drives Supply Chain Efficiency with CustomerCentric Initiative (2016) Williams-Sonoma, Inc. acquires AR 3D imaging startup Outward for $112M (2017) Williams-Sonoma, BJ’s Boost Tech Teams: Former Macy’s exec Yasir Anwar will lead all aspects of Williams-Sonoma’s digital experience, retail stores and supply chain (2018)
PRODUCTS Best way to find best products is through top rated and top gifts Could use to make product line to market
Cookware Cook Tools Cutlery Electrics
Bakeware Food TableTop & Bar Home-keeping Outdoor
TOP GIFTS PRODUCT LINE 1. Vitamix A3500 Ascent Series Blender 2. Vitamix Perfect Blend Smart Scale & Recipe App 3. Instant Pot Duo Plus80 9-in-1 Multi-Use Programmable Pressure Cooker, 8-Qt. 4. Breville Sous Chef Peel & Dice Food Processor, 16-Cup 5. KitchenAid® Artisan Mini Stand Mixer with Flex Edge Beater 6. All-Clad d5 Stainless-Steel 10-Piece Cookware Set 7. All-Clad Stainless-Steel Roasters with Rack 8. Le Creuset Signature Cast-Iron Round Dutch Oven 9. Williams Sonoma Goldtouch® Nonstick 6-Piece Essentials Bakeware Set 10. Williams Sonoma Nonstick Tools 13-Piece Set
AUDIENCE Williams-Sonoma is catering to upscale shoppers. Age: 30-60 Upper middle, high class, family oriented/married Interest: Cooking, decorating, social events Values: Family, quality over quantity
MARKETING & PR Marketing Formats: E-commerce Direct-Mail Catalogs Retail
Promotion: B
Personalization Through Data Analytics The Art Of Selling Targeting the Right Customers With The Help Of Technology Efforts To Connect With Community Embracing The Digital World
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COMPETITORS
SWOT ANALYSIS STRENGTHS Acquiring tech startup Strong retail inventory and management operations system Leverage a direct sourcing model and an owned supply chain Attitude toward consciousness and purpose in everything they do Strong finance. High level of profitability, and over $500 million of operating cash flow annually Expanding worldwide
Vertically integrated & Multi-channel retail strategy
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WEAKNESSES
Similar products are available at a lower price The company faced a copyright infringement suit in 2008, alleging that they used copyrighted designs for their rugs
OPPORTUNITIES • Consumers in the UK increasingly stay at home and invite friends and family over, instead of going out for a meal • Kitchenware, overall, and kitchen utensils, in particular, saw the fastest growth in the UK in 2016. • Millennials • E-commerce is becoming more popular due to convenience • AR is expected to become a standard part of the consumer experience • Strong US and UK trade relationship
The value of the UK homewares market dipped slightly in 2011 and 2012 to 10.7 billion British pounds. Since then the market value has increased. In 2017, it reached an estimated 12.3 billion British pounds. A Further increase for 2018 is expected.
THREATS UK consumers spend very little time in the kitchen and cooking skills are rather scarce overall Millennials are not interested in cooking Improved food deliveries and declining prices in restaurants Ready meals and convenience meat products are popular Unemployment Unstable economy due to Brexit • UK growth to slow from 1.8% in 2016 to around 1.5% in 2017 and 1.4% in 2018 Competitors • The leading company for homewares in the UK remained Ikea Ltd in 2016 Expose to cybersecurity risks and costs associated with credit card fraud
MARKETING STRATEGIES & OBJECTIVES
Goal: Build brand awareness for William-Sonoma in the UK
OBJECTIVE 1: SOCIAL MEDIA CAMPAIGN Strategy: Facebook, Pinterest & Instagram Goal: Gain these many followers in a 3-year period: - Facebook: 45,000 UK likes/followers - Pinterest: 10,000 UK followers - Instagram: 35,000 UK followers
OBJECTIVE 2: UK Williams-Sonoma Website
Strategy: Williams-Sonoma UK website - pounds sterling pricing - domestic UK shipping - promotions for the UK
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Method: - website completed before - the opening of the UK store no large difference in the design of the website
Succeed Level: - check UK website analytics - number of website visits most viewed pages # of online purchases # number of new accounts made how long users stay on the website
OBJECTIVE 3: Print advertisements (Billboards, Magazine, etc.) Strategy: Print Advertisements - Billboards in Piccadilly Circus - transit posters on the London Underground - UK based magazines like Elle Decoration and House & Garden
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Method: - up 3 months before the store opening - a quick survey during and up to 3 months after opening day Outcome: - better idea of which types of print advertising works best - # customers visited the store due to these forms of advertisement
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OBJECTIVE4: Create customer relationships (Rewards program) Strategy: A rewards program for UK customers - allow customers to earn points - special sales and discounts - private events - help bringing in new customers
Outcome: - help bringing in new customers - a better understanding on how many new customers there are - what consumers like - what promotions work best
Success Level: - # of new accounts - # points a customer collects - when and how often a customer shops with them
OBJECTIVE 5: UK Influencers for Williams-Sonoma UK
Strategy: Influencers - chefs - bakers - foodies - bartenders - lifestyle bloggers with large and trusted # of followers in the UK.
Method: - promote products they love - share food and drink recipes using products sold at WilliamsSonoma
Outcome: - help connect with customers on a more personal and genuine level
Success Level: - # of likes and positive comments on social media platforms
MANAGEMENT & EVALUATION SUMMARY Instagram Analytics, Facebook Analytics, Pinterest Analytics ·Each platform tracks data: - # of Followers Gained - Reach ·Analyzed by Social Media Staff *best for Objectives 1 & 5
Google Analytics 360 a full view of what is happening in a company’s website website sales account enrollment real-time reports segmentation *best for Objectives 2 and 4
Customer Survey 1-2 minute survey in-store the first 3 months of Williams Sonoma’s store opening a big help for in-store insight show which advertising platform is the most successful in drawing in customers * best for Objective 3
THANK YOU A B C
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