Crisis at the Bally Wedding Dress Company Case Case Study Solution
Challenges
The overarching challenge of the company tends to generate the growth in the profits within a comparatively flat industry. The wedding in China is opulent with detailed and elaborate embroidered dresses as well as prolonged rituals series. In recent period of time, China has positioned itself as an international leader, so there is a significant increase in the income of the people, which has enabled them to think about their weddings to be more big and exclusive events. The increasing awareness of the cultural trends in the wedding has added to such opulence, with increasing mix between local and western tradition (As Chinese weddings become more opulent, brides are finding ways to keep fashion sustainable, 2019).
Possible solutions
The company must adopt the Value Proposition Development Model in order to reduce the number of complaints and returns requiring refunds, due to many reasons:
Even though, the company has been prospering by offering high valued and exceptional quality products to its customers, yet there are some needs that must be adapted, such as;
The network must be built between the company and its customers. The network might help the company to deliver the chosen values to its customers. After undertaking all the consideration about the customers; the company must learn that how to create value sources for their selected customers. The company can ponder on where to connect strategy and where to adjust in order to capture the buying power of the new generation. The company must focus on new designs and try to gather the market. The company should improve the services in order to create more value.(Tjan, 2009).
The company can make better and eye appealing designs of the wedding gowns, so that the products would become efficient enough to help the company in its goal of achieving the overall objective. It would be able to have all its retailers use referrals, marketing, social media and new technologies for the sake of its customers, which would enable the company to have an opportunity to increase the brand recognition (three-stages-proposition-mapping-process, 2017).
The company should build the team that should be dedicated on focusing the contemporary product design and improved speed to market. The company should also consolidate the product development and design, which would be the first move that to be made by the leadership team in order to assure that the company is in service to the customer base.
Furthermore, the company should increase the efficiency of its employees through hiring efficient employees, and should also provide them with cost reducing and adequate training techniques. It should also reduce the time required in producing an average unit through providing the specialized training, enabling the workforce to work at a much faster rate. The cost of production can also be decreased through changing the design of the product in accordance to the customer needs. The company needs to identify the products’ key characteristics that would be responsible for its success in the marketplace.(Carucci, 2018).
Another alternative is to adopt the customer relationship management (CRM) approach through which the company would be able to manage better and strong relationship with the existing and potential customers. It would lead the company towards increased profitability,revenues and improved efficiency in serving its customers, greater employee satisfaction, improved team interaction and collaboration as well as low customer attrition. It would also allow the company to understand the needs of the customers and strive harder to meet those needs. (Rigby, 2004).
Implementation
| Short term | Mid term | Long tem |
| Goal:To reduce production and labour cost
Action plan: § The company should hold a brainstorming sessions for the purpose of solution generation § It should optimize the production through providing an excellent training, which reduces the re-work and enhances the productivity § Consolidate product would simplify the training of employee, hence reducing the labour cost and improving productivity. § It should promote the business on the social networking sites or social media, and maintain an excellent customer service as well as support.
|
Goal:To reduce the customer complaints and bad reviews
Action plan: § The company should assist each customer in finding her dream dress with the assistance of knowledgeable stylist, online planning tools and expert seamstresses who would help in providing the guidance through customers’ entire buying journey. |
Goal:To increase the profit and sales volume
Action plan: § The company should review an annual report in order to evaluate the increasing, decreasing or stable trend in the revenues generated in that year. § The company should align the business model with the current market trends in order to satisfy the customers. § The ultimate goal of the company should be having an improvement in resources, product and customer services on continuous basis. |
Conclusion
To sum up, it is to conclude that Bally Wedding Dress Company is a start-up brand which offers a wide range of products that meet the multifarious demands of the diverse customer base.It has been dealing with the sales, design as well as manufacturing of wedding dresses, gowns, children wedding cloths, bridesmaid gowns and wedding accessories.Because of the currency appreciation, rise in cost of labour and increased raw material prices, the low cost advantages in the manufacturing industry was eroded by 2014. It facilitates the customers by allowing them to buy their favourite and suitable wedding dresses online to save their time and efforts. To promote the product online and brand recognition; the company has intended to depend upon the social media network service marketing which includes Facebook and Twitter due to the fact that these social sites acquire highly engaged and massive audience.The company must adopt the Value Proposition Development Model in order to reduce the number of complaints and returns requiring refunds. The company should build the team that must have its major focus on the contemporary product designs and improved speed to market. The company should also consolidate the product development and design, which would be the first move to be ever made by the leadership team for the purpose of assuring that the company is in service to the customer base. Another alternative is to adapt the customer relationship management (CRM) approach through which the company would be able to manage better and strong relationships with the existing and potential customers.
Key takeaway
From the case analysis, it is learned that the organizations should invest their times for making the short as well as the long term strategic plans, in which the favourable and unfavourable situations along with their tactical plans should be the key areas to discuss. The user or customer experience needs to be improved with the passage of time. It is important to be dedicated and committed towards delivering the five-star customer experience. The company should strive harder than it had ever before in order to become a recognizable brand and an ultimate online or in store destination where the brides can find the best and perfect wedding dresses at a great value, which would only add to the opportunities of the company for attracting a larger customer base than its competitors.
Exhibit – SWOT Analysis
| Strengths | Weaknesses |
| § Wide range of product offerings
§ Low cost business model § Mid-level brand recognition § Operate on the multiple sites and launched websites § Use of social media network service |
§ High production cost
§ High labor cost § Difficulty in management and recruitment § Limited knowledge and expertise in online marketing and promotion |
| Opportunities | Threats |
| § Business expansion opportunities
§ Meet diverse customer needs |
§ Fierce and strong market competition
§ Threat of new entrant in the market
|
Exhibit – Action Plan
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