Project Summary
SuitShop is an e-commerce suiting company based in the United States. Its business model is to offer tailored suits at a cheaper price, which can be completely ordered online. This company aims to make high-quality suits available for everyone, regardless of their size or gender, at an affordable price point. The company was founded by two women, who created the business out of the frustration they faced while suiting a group in rental tuxedos, which didn’t fit well, were expensive, and were inconvenient.
My group and I, who named ourselves “NextGen Consulting”, found through our Q&A with the founders, that they lacked a marketing strategy to help them grow. The company relied mostly on word-of-mouth marketing, where their customers referred them to others. While this did help the company grow in its early stages, this strategy is inadequate for it to grow larger.
Within this case, my team and I explored what SuitShop’s target audience was and we also looked into how to best target them and provide SuitShop with a stable customer base.
Our solution for SuitShop was to add to their word-of-mouth strategy by using social media to target Gen-Z, which is the demographic that they are aiming for. We discussed how to best target them with specific recommendations to expand into areas of interest for this audience such as prom and homecoming-related services and also offering sustainable options. This solution offers SuitShop a cost-effective method to grow its market size and market share and potentially gives them a stable customer base. The significance of having a stable customer base is that it is an essential part of smaller and growing businesses, as it offers a stable income that the business can rely on to develop and expand itself.
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