5S Model The 5s model help us to take few steps in the organization that can improve company overall performance. The 5S are: Sort (Seiri): This tell us to distinguish between any unnecessary and necessary item in Misguided and getting rid of it such as the clothes that are no longer in the trend is giving the company high inventory cost so getting rid of that stock is better for the company. Straigthen (Seiton) In a simple term Straighten can be defined as that the Missguided need to practice of putting their inventory in the right order so the item can be found efficiently and avoiding waste. Shine (seiso)
To maintain cleanliness in the environment. Missguided need to ensure that in the process of manufacturing of clothes they need to identify the causes of dirtiness and and keep the cleanliness as their top priority. Standardize (seiketsu) Setting up the standard for efficient workplace. To define role and responsibility of each staff in Missguided and keep the department consistent with each other. Sustain (shitsuke) This last “S” of the framework is the toughest to implement in the company. Missguided need to implement behavior, maintain responsibilities and habit so that it can achieve the desired standard over a long-term for example regular audit and review. (Lean Manufacturing and Six Sigma Definitions, 2019) Race Model This framework helps the digital marketing manager to manage their activities in more structured and efficient way Reach: This term can simply be defined as to is to create brand awareness of Missguided on other website or offline media and in order for the organization to build traffic they need to drive the visitor to different web presence for example micro site or social media. Act: This tell us how the company can engage with the audience on websites or social media. Convert: This process is conversion to sale. In a simple way it tell us the next step that the crowd should need to do is to buy the items from Missguided. Engage: This term is the developing of long-term engagement with the customer of Missguided because to build a customer loyalty. The life time value of customer can be boost by email, direct interaction, site or social preference. (Smart Insights, 2019). 4Ps It is a marketing mix Price It refers to what can a company set a price for there product. In the case of Missguided they need to charge low prices for there product because this would increase the demand for there product and profit as well Promotion
In order for Missguided to increase the brand awareness they need to keep on promoting there product. Place Missguided need to open its store in countries around the globe so that many people can visit their store and have opportunity to check there product as the online store has some drawbacks Product Misguided need to ensure that they introduce their products in different categories of male too this would diversify there product range and there will be risk for the company to be going to failure.
- Fall '19
- Marketing, Missguided