This week I conducted a basic Core Competence analysis. After reviewing HoodWinxs’ website, Facebook page and its competitor Spirit Hoods’ web pages, I kind of feel that these two brands can be differentiated.
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Core Competence Strategic assets Customer benefits |
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1 Design 2 Branding 3 Sourcing/Supplier relationship building 4 Manufacturing 5 Retailer relationship building
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1 Licensed fabric 2 Designed patterns 3 Quality products |
1 Style 2 Functional comfort 3 Self-expression 4 Visually compelling look
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Under strategic assets, fabric and patterns can be Hoodwinxs’ product feature differentiated from competitor Spirit Hoods, which mainly focuses on animal fur. Hoodwinxs products can be featured as cozy stylish with welled designed patterns and outlook. They can be worn in to every day fashion, they will look stylish and cool but not incompatible with others, which should be different from competitor’s wildlife animal style. Consumers can pick one to match their outfit and express their feelings of the day.
Core competency column lists the skills that should invest on to lead to a sustainable competitive advantage. Design should cover many aspects: products, websites, social media, overall brand image and advertisements. Branding is to create its own unique brand image and philosophy (will be conducted in brand development module). Sourcing and manufacturing relationship building guarantees good product quality. Retailer relationship building helps business get more big contracts to sell licensed products.
Customer benefits will be elaborated in products’ target audience description which tells what kind of people will most likely to buy Hoodwinxs and become loyal customers.
I’m constantly thinking about what other attributes can fashion accessories bring to customers. Except from functions, comfort and style, there must be something else that drives the fans crazy. Maybe it’s the community culture? People who share the same value and belief would like to be engaged in a circle. Or is it the spiritual thing that captures people’s heart? For example Spirit Hood is dedicated to wildlife animal protection and charity, their mission statement is shown everywhere, on its website, especially Facebook page, they are quite active on facebook and keep posting good photographed pictures that in consistent with brand philosophy.
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