Casper Sleep, Inc.: Marketing the “One Perfect Mattress for Everyone” Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Casper Sleep, Inc.: Marketing the “One Perfect Mattress for Everyone” Case Solution

The company used paid media vehicles which was effective except online search engine other than this, podcasts and subways posters promotion enabled the company to have a lot of brand awareness in the people attracting a lot of customers and visitors to the mattress stores. Visitors were getting a discounts by applying the Promo code. Though company did not have enough budget for advertisement but it had the ability to create a long term strategy by using the minimum budget available. The company’s valuation recorded was of $550 million generated press coverage by June 2015. New City Subway program was followed by cartoon characters that cost $300,000. Now, the operations of the company are very effective and are able to generate higher profits than other competitors and it can pay off for advertising same as that of traditional Big Mattress. It should continue the current media mix which is appropriate according to its requirement. Advertisement plays a vital role to spread your product and it is directly proportional to sales of the firm. Better the platform of advertisement, higher the revenue and inflow of the business.

What media mix would you recommend for Casper going forward? Do you support the use of television as a medium? If so, how?

According to the performance of Casper the media mix would be feasible for Digital Marketing Approach, Radio, independent retailers, social network, advertisement in newspapers, out of country sale, outdoor ads. Digital marketing approach would help Casper to grow its network and market share in local markets through retargeting and sending ads cookies to internet users and educate them to visit Casper site. This would lead to increase in traffic on Casper’s Website. Radio is the low-cost social channel and Casper’s radio has a larger contractual commitments. Independent retailers are the main source that can increase sales on frequent basis because they are independent and everyone uses their own marketing strategy to sell their products. Big Mattress captures 95% sales through traditional channels and it has the chain of well-established independent retailers. Social network is the easiest way to spread Casper’s product features through social platforms, direct- mail is one of the type of social network. Ads can be given in newspapers in colorful images so readers can notice see them properly. Outdoor ads includes billboards and brochures are other publicizing and promotional means for the product to increase sales.

Casper should use the Television channel for advertisement, though expense on television advertisement in the U.S overall market was 36% in 2015 but Casper has grown its operations along with profit. It should apply the same theme of an emotional attachment to customers that was initially designed on website by Red Antler. This will maintain a close relationship between consumer and product. Casper should animate cartoons for TV campaign because everyone liked that subway cartoon characters.

Would you recommend other marketing plan changes for the company as it seeks to sustain its growth momentum?

The company should maintain the bond of love, emotions and attachment to fulfill the purpose of designing the product and the growth of the company and its product. I will recommend to expand the operations to outside the regional boundaries for instance: Chicago, Los Angeles, San Francisco, and Washington D.C etc. start Television campaigns to compete in traditional market along with strong network retailers. Expansion of the product line by cutting down the prices of products as compared to its competitors. Create the employment opportunities through opening of positions required by departments. Casper has Spent 55% on internet advertisement because it has the better network of internet users and it will help the company to grow geographically through global conferences. To sustain its growth momentum it should conducted a survey of the Net Promoter Score (NPS) to maintain the connection between consumer and product. NPS can be defined through ranking of 1 to 10 scale which means rating the product on the base that how better the customer’s experience with the product was. Casper should continue its media mix and marketing strategies to sustain the growth. Company should not revise the scale of pricing because this would reduce the retention of consumers. Casper had not attempted to use a pricing tool to compete rather they were focused for log lasting bond and connection with customers.

Conclusion:

It is not necessary to have a good cash flow for the better advertisement, it can be done through strategic approaches and best platform to launch your product. Casper has designed the product to provide quality mattress and to fulfill the needs of consumer. One of the celebrity, defined the relation between the physical health, better sleep and mental health and Casper is fulfilling that need. Casper has achieved the purpose of establishing the bond between product and consumer.

Recommendations:

To grow and for sustainable operations, strategic approaches should be used for further enlargement of consumer base and should use national Television advertisement for the more awareness of the products and there should be an expansion in the product line, manufacturing and retail outlets to increase the revenue of firm...............

This is just a sample partical work. Please place the order on the website to get your own originally done case solution.