Harvard Case - Crayola: Environmental Disruptions Affecting Its Back-to-School Strategy
"Crayola: Environmental Disruptions Affecting Its Back-to-School Strategy" Harvard business case study is written by Sheri Lambert, Sara Honovich. It deals with the challenges in the field of Marketing. The case study is 11 page(s) long and it was first published on : May 7, 2021
At Fern Fort University, we recommend Crayola adopt a multi-pronged strategy to navigate the evolving back-to-school landscape. This strategy focuses on leveraging Crayola's brand equity, embracing digital innovation, and adapting its product offerings to meet the changing needs of consumers. We propose a combination of initiatives, including a renewed focus on digital marketing, a shift towards sustainable product development, and a strategic expansion into new market segments.
2. Background
Crayola, a renowned brand synonymous with childhood creativity, faces a challenging back-to-school season. The rise of digital learning platforms, changing consumer preferences, and increased environmental concerns are disrupting the traditional back-to-school market. Crayola must adapt its strategy to remain relevant and competitive in this evolving landscape.
The main protagonists of this case study are:
- Crayola: A company with a rich history and strong brand recognition, facing the need to adapt to changing market dynamics.
- Consumers: Parents, educators, and children who are increasingly influenced by digital technology and sustainability concerns.
- Competitors: Other art and craft companies, educational technology providers, and even digital entertainment platforms vying for children's attention.
3. Analysis of the Case Study
To analyze Crayola's situation, we employ a combination of frameworks:
1. SWOT Analysis:
- Strengths: Strong brand recognition, iconic product portfolio, established distribution channels, loyal customer base.
- Weaknesses: Reliance on traditional retail channels, potential for perception of being outdated, limited digital presence.
- Opportunities: Growing demand for STEM education, increasing focus on sustainability, potential for digital product expansion.
- Threats: Competition from digital learning platforms, changing consumer preferences, economic uncertainty.
2. PESTEL Analysis:
- Political: Government policies on education and sustainability.
- Economic: Global economic conditions, consumer spending patterns.
- Social: Changing demographics, rising interest in STEM education, growing environmental awareness.
- Technological: Advancements in digital learning, online entertainment, and virtual reality.
- Environmental: Growing concerns about sustainability, demand for eco-friendly products.
- Legal: Regulations regarding product safety, labeling, and environmental impact.
3. Consumer Behavior Analysis:
- Target Market Segmentation: Crayola needs to identify specific customer segments within the back-to-school market, such as parents, educators, and children of different age groups.
- Consumer Needs and Preferences: Understanding the evolving needs of consumers, including their desire for digital learning tools, sustainable products, and engaging creative experiences.
- Purchase Behavior: Analyzing factors influencing purchase decisions, such as price, brand loyalty, availability, and product features.
4. Competitive Analysis:
- Direct Competitors: Identifying key competitors in the art and craft market, including traditional companies and digital platforms.
- Competitive Advantage: Analyzing competitors' strengths and weaknesses, identifying opportunities for differentiation and innovation.
- Competitive Landscape: Understanding the competitive landscape, including market share, pricing strategies, and product offerings.
5. Product Lifecycle Management:
- Product Portfolio: Evaluating the current product portfolio, identifying opportunities for innovation and expansion.
- Product Development: Focusing on developing new products that cater to evolving consumer needs and preferences.
- Product Positioning: Adapting product positioning strategies to align with the changing market dynamics.
4. Recommendations
Based on the analysis, we recommend the following actions for Crayola:
1. Digital Transformation:
- Develop a comprehensive digital marketing strategy: Implement a robust online presence, including a user-friendly website, engaging social media content, and targeted digital advertising campaigns.
- Expand into digital learning platforms: Partner with educational technology providers to integrate Crayola products into online learning platforms, offering interactive and engaging learning experiences.
- Leverage data and analytics: Utilize data analytics to understand consumer behavior, optimize marketing campaigns, and personalize customer experiences.
2. Sustainable Product Development:
- Introduce eco-friendly products: Develop a line of sustainable products using recycled materials, biodegradable packaging, and non-toxic ingredients.
- Partner with environmental organizations: Collaborate with environmental organizations to promote sustainability initiatives and raise awareness about environmental issues.
- Transparency and ethical sourcing: Ensure transparency in sourcing practices and commitment to ethical sourcing of materials.
3. Market Expansion:
- Target new market segments: Explore new market segments, such as adults, educators, and niche communities with a passion for art and creativity.
- Develop innovative product lines: Introduce new product lines catering to specific needs and interests, such as STEM-focused products, adult coloring books, or digital art tools.
- Explore global markets: Expand into new international markets with high growth potential and a strong demand for creative products.
4. Brand Revitalization:
- Reposition the brand: Refresh the brand image to appeal to a wider audience, emphasizing creativity, innovation, and sustainability.
- Develop engaging content: Create compelling content that resonates with consumers, showcasing the value of creativity and the brand's commitment to sustainability.
- Build a strong community: Foster a strong online community where consumers can connect, share their creative projects, and engage with the brand.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: These recommendations align with Crayola's core competencies in product development, brand building, and marketing. They also support the company's mission to inspire creativity and imagination.
- External customers and internal clients: The recommendations address the evolving needs of external customers, including parents, educators, and children. They also consider the needs of internal clients, such as employees and stakeholders.
- Competitors: The recommendations aim to differentiate Crayola from competitors by leveraging its brand equity, embracing digital innovation, and focusing on sustainability.
- Attractiveness: The recommendations are expected to be attractive to investors and stakeholders due to their potential for growth, profitability, and positive social impact.
6. Conclusion
Crayola faces a critical juncture in its history. By embracing digital transformation, prioritizing sustainability, expanding into new markets, and revitalizing its brand, Crayola can navigate the evolving back-to-school landscape and secure its position as a leader in the creative industry.
7. Discussion
Other alternatives not selected include:
- Focusing solely on traditional retail channels: This approach would limit Crayola's reach and potential for growth in a rapidly changing market.
- Ignoring sustainability concerns: This would alienate environmentally conscious consumers and damage the brand's reputation.
- Adopting a purely digital strategy: This approach could alienate traditional customers and erode the brand's connection with physical products.
Key assumptions of our recommendations include:
- Consumer demand for sustainable products will continue to grow.
- Digital learning platforms will continue to gain popularity.
- Crayola's brand equity will remain strong.
8. Next Steps
To implement these recommendations, Crayola should:
- Develop a detailed implementation plan: Outline specific timelines, budgets, and resources required for each initiative.
- Create a cross-functional team: Assemble a team with expertise in digital marketing, product development, sustainability, and brand management.
- Monitor progress and adapt: Regularly track progress and make adjustments as needed to ensure the success of the strategy.
By taking these steps, Crayola can position itself for success in the dynamic and evolving back-to-school market.
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Case Description
Founded in 1885, Crayola has since established itself as US-based iconic brand with a wide array of quality products and deep connections with consumers, retailers, and licensing and business partners. By March 2020, Crayola had achieved category leadership and was outselling the majority of its competitors. It was on trend with new products and online content for educators, parents, and children-all with the goal of inspiring creativity among children. Crayola had also created strong relationships with and earned the respect of retailers, who had come to value the role Crayola played in their business, especially during the two most important retail seasons: back-to-school and Christmas. At the beginning of the second quarter of 2020, Crayola had to make some critical decisions. The rapid spread of the COVID-19 virus across the United States had led to business and school closures across the country (and the world), as well as personal physical restrictions. Crayola needed to immediately focus on three key areas: maintaining company culture, collaborating with partners to preserve the volume of back-to-school revenue, and ensuring a strong supply chain to meet consumers' needs. These three actions would ensure that Crayola could take advantage of key opportunities and continue creating strong and sustainable relationships with educators, parents, and children.
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