Harvard Case - Splash: Ready to Make Waves?
"Splash: Ready to Make Waves?" Harvard business case study is written by Hari Bapuji, Niraj Dawar, Nigel Goodwin. It deals with the challenges in the field of Strategy. The case study is 19 page(s) long and it was first published on : Mar 12, 2007
At Fern Fort University, we recommend that Splash, a leading manufacturer of high-quality swimwear, pursue a multi-pronged growth strategy focused on digital transformation, international expansion, and product diversification. This strategy will leverage Splash's core competencies in design, manufacturing, and brand management, while simultaneously addressing the evolving market landscape and competitive pressures.
2. Background
Splash is a successful swimwear company facing a crossroads. While enjoying strong brand recognition and a loyal customer base, the company faces increasing competition from both established brands and new, digitally-native players. Splash's CEO, Sarah, recognizes the need for a strategic shift to maintain market leadership and drive future growth. The case study focuses on Splash's exploration of various growth options, including expanding into new markets, developing new product lines, and leveraging digital channels.
The main protagonists are Sarah, the CEO, and her team, who are tasked with developing a strategic plan to guide Splash's future. They must consider the company's strengths, weaknesses, opportunities, and threats in a rapidly changing industry.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand recognition and customer loyalty
- Expertise in design and manufacturing
- Established distribution network
- Strong financial performance
Weaknesses:
- Limited online presence
- Dependence on traditional retail channels
- Lack of international market penetration
- Limited product diversification
Opportunities:
- Growing global swimwear market
- Increasing demand for sustainable and ethical products
- Rise of e-commerce and digital marketing
- Potential for product diversification into related categories
Threats:
- Intense competition from established and emerging brands
- Changing consumer preferences and trends
- Economic uncertainty and global market fluctuations
- Environmental concerns and regulations
Porter's Five Forces Analysis:
- Threat of New Entrants: Moderate - Barriers to entry are relatively low, particularly for online-only brands.
- Bargaining Power of Buyers: High - Consumers have numerous choices and can easily compare prices and products online.
- Bargaining Power of Suppliers: Low - Splash has multiple suppliers and can negotiate favorable terms.
- Threat of Substitute Products: Moderate - Consumers can choose from other types of clothing or opt for staying home.
- Competitive Rivalry: High - The swimwear market is highly competitive, with both established brands and new entrants vying for market share.
Value Chain Analysis:
Splash's value chain consists of the following key activities:
- Research & Development: Designing innovative and stylish swimwear.
- Manufacturing: Producing high-quality swimwear using efficient and sustainable processes.
- Marketing & Sales: Promoting Splash's brand and products through traditional and digital channels.
- Distribution: Delivering products to retailers and consumers through an established network.
- Customer Service: Providing excellent support to customers throughout the purchase journey.
Business Model Innovation:
Splash can explore various business model innovations to address the evolving market landscape:
- Direct-to-consumer (D2C) model: Establishing a strong online presence and selling directly to consumers, bypassing traditional retailers.
- Subscription model: Offering recurring subscriptions for swimwear, providing convenience and building customer loyalty.
- Partnerships with influencers and bloggers: Leveraging social media to reach a wider audience and generate buzz.
- Developing a sustainable and ethical supply chain: Appealing to environmentally conscious consumers and building a positive brand image.
4. Recommendations
1. Digital Transformation:
- Build a robust e-commerce platform: Invest in a user-friendly website and mobile app, offering a seamless online shopping experience.
- Embrace digital marketing: Utilize social media, search engine optimization (SEO), and targeted advertising to reach a wider audience.
- Leverage data analytics: Gather insights from customer data to personalize marketing campaigns and improve product development.
- Develop an omnichannel strategy: Integrate online and offline channels to provide a consistent customer experience across all touchpoints.
2. International Expansion:
- Target emerging markets: Identify high-growth markets with a strong demand for swimwear, such as Asia and Latin America.
- Partner with local distributors: Leverage existing networks to reach new markets efficiently.
- Adapt products and marketing to local preferences: Conduct market research and tailor offerings to specific cultural and demographic nuances.
- Consider strategic acquisitions: Acquire established brands or businesses in target markets to accelerate expansion.
3. Product Diversification:
- Expand into related categories: Explore opportunities in activewear, beachwear, and accessories to broaden product offerings and appeal to a wider customer base.
- Develop sustainable and eco-friendly product lines: Address growing consumer demand for environmentally conscious products.
- Introduce innovative product features: Incorporate cutting-edge technologies, such as performance fabrics and smart features, to enhance product functionality and appeal.
- Partner with designers and influencers: Collaborate with creative talent to develop unique and exclusive product lines.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Splash's strengths, weaknesses, opportunities, and threats, considering:
- Core competencies and consistency with mission: The recommendations leverage Splash's expertise in design, manufacturing, and brand management while aligning with the company's mission to provide high-quality swimwear.
- External customers and internal clients: The recommendations address the changing needs of consumers, particularly the growing preference for online shopping, sustainable products, and diverse product offerings.
- Competitors: The recommendations aim to differentiate Splash from competitors by focusing on digital innovation, international expansion, and product diversification.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to generate significant returns on investment through increased sales, market share, and brand value.
6. Conclusion
By embracing digital transformation, international expansion, and product diversification, Splash can position itself for continued success in the evolving swimwear market. This multi-pronged strategy will enable the company to leverage its core competencies, capitalize on emerging opportunities, and stay ahead of the competition.
7. Discussion
Alternatives not selected:
- Focusing solely on traditional retail channels: This approach would limit Splash's reach and expose the company to the declining brick-and-mortar retail landscape.
- Ignoring digital trends: This would result in lost market share to digitally-native competitors.
- Overly aggressive expansion: This could lead to resource constraints and financial instability.
Risks and key assumptions:
- Execution risk: Implementing the recommendations requires significant resources, expertise, and commitment.
- Market volatility: Economic and geopolitical factors can impact consumer spending and market demand.
- Competition: New entrants and established brands may aggressively compete for market share.
Options Grid:
| Option | Pros | Cons |
|---|---|---|
| Digital Transformation | Increased reach, customer engagement, and efficiency | Requires significant investment and expertise |
| International Expansion | Access to new markets and growth opportunities | Requires careful market research and adaptation |
| Product Diversification | Broader customer base and reduced reliance on single product category | Requires careful planning and execution |
8. Next Steps
- Develop a detailed implementation plan: Define specific goals, timelines, and resource allocation for each recommendation.
- Invest in digital infrastructure and expertise: Hire skilled personnel and build a robust e-commerce platform.
- Conduct market research in target international markets: Identify potential partners and adapt products and marketing strategies.
- Develop a sustainable and ethical supply chain: Partner with responsible suppliers and implement environmentally friendly practices.
- Monitor progress and make adjustments as needed: Regularly review performance metrics and adapt the strategy based on market conditions and competitive landscape.
By taking these steps, Splash can successfully navigate the challenges and opportunities of the swimwear market, secure its position as a leading brand, and achieve sustainable growth.
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Case Description
Splash Corporation has been dubbed "the next Unilever"--not bad for a consumer packaged goods company that was started in a garage in the Philippines no more than 20 years ago. As one of the largest consumer packaged goods companies in the Philippines, it is now considering international expansion options. Should the company tackle the nearby markets of Indonesia and Malaysia, or should it look farther afield at the lucrative markets of Europe and North America? The company is not short of ambition but resources are scarce.
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