Business insight business plan

With aging populations around the world, this share of consumers becomes essential for brands and businesses, which must see growth potential in the age group. In fact, this range of the population has more purchasing power than younger people. In the beverage market, the increased consumption of craft products (such as craft beers) reflects the anti-mass trend. In the beauty market, products called DIY (Do It Yourself) have also seen a boom in interest and consumption. Demand for products that use natural ingredients has been growing. In an age of high accessibility, where everything is at the touch of a button, consumers know they can rely on instant information to decide their purchases (Angus, 2018). The relationship between retailer and consumer has changed.

If formerly they were looking for certain brands or specialists they could trust to make their decisions, now highly informed consumers make decisions on their own and talk to each other for advice and information. On social networks, consumers don't need brands to report problems, criticize, or praise a product or service. The power of information is in the hands of the consumer. Consumers are cutting the middleman, and doing it themselves. Without consulting a professional, people solve their own problems with versatility. And if previously consumers were lured by the hype of new products, now they are looking for simple and effective solutions that fit their needs. With an eye, for example, on health, these new consumers are looking for practical food solutions, valuing organic products.

PART 2: Social Media Analysis Historically, consumers used the internet to consume content, reading information before buying products or services. Within the analysis were some sectors such as Services, Cosmetics & Fragrances and Delicacies with very few companies classified within these categories. The categories selected for the exercise are the following: Bags & Cases; Fashion Products - Clothes & Accessories; Body Decoration; Means of transportation, fashion. etc. (L2 Intelligence Report, 2017). Social Network Usage The most used social networks in the world were identified to narrow the scope of the investigation. Finally, there are silent observers representing 20% of users and they are the ones who read but never participate in conversations and do not publish content. This can be witnessed in the number of likes v.

number of comments regarding certain hashtags, brand, and product varieties. The growth of the worldwide popularity of social networks, its great accessibility, its scalability and the extended periods of time that consumers spend on them are pressing companies to adopt these platforms, thus investing more and more time and money creating, buying, promoting and advertising on them due to the increasing attention that consumers give them. As it could not be otherwise, as in everyday life, social networks have also led to important changes within the business world. Two out of five companies use a social network in their business and 88. 7% of them believe that they are useful for the development of their activities, using them mainly for marketing, advertising and management of image and, to a lesser extent, as an information channel towards the client.

In 2018 the use of social sites Facebook, LinkedIn, Google, Twitter, Youtube, Flickr etc… and websites to share multimedia content has been increased in the corporate sphere. On the other hand, the use of web tools for knowledge sharing or wikis has decreased. Regarding the future evolution that social networks are expected to have within the company none of the companies analyzed planned a decrease in the game of budget for social networks but an increase for the coming years. Online advertising has a greater impact than television on Canadian buying intentions. Advertisers study consumers and invest a growing part of their advertising budget in interactive media. Online advertising focuses mainly on the population aged 18 to 34 years. A crucial factor in promoting products and services in Canada is the creation and maintenance of a professional website.

The sale of advertising on social media is expected to increase by 35%, the sale of advertising on videos 20%, and the sale of advertising on searches 13% as a whole, the sale of digital advertising is projected to increase 16% in 2017, with a figure of 7 billion. Based on the consumer tastes, it is evident that Levi has not fully understood its target market behavior. The consequence of this has been greater complexity and universality of the market. Additionally, traditional segments have evolved towards new consumption patterns. On the other, certain types of consumers have emerged with similar characteristics and that are constituting new business opportunities for companies, which is what has been termed as the new targets In this sense, the sociodemographic variables which served to segment the market are no longer sufficient to discriminate between groups of consumers, the use of other variables of a subjective nature such as the so-called psychographic being necessary.

Among them, values begin to be an important element to identify and learn more about new consumer segments and discriminate better their behavior and consumption patterns (L2 Fashion US, 2017). Weaknesses • It does not offer a variety of designs because it is very classic. • Low online sales • Lack of large variety of sizes Opportunities • Young market in growth • Possibility of cobranding • Sales system through online outlets Threats • Emerge some tendency that makes the denim down • There is a strong, numerous and varied competition. • Problem with imitations of Levi’s products In order for Levis to adjust its position within the fashion industry, it has the ability to use its advertising and marketing prowess to identify new market segments and demographics. This can be achieved through merchandising.

Merchandising for companies has advantages in different areas, as long as they know how to choose the items properly as we will see later to achieve the desired effect. It is a way of advertising much cheaper than by other means and, in addition, they are long lasting, so the impact of the brand is more prolonged over time. Recipients of promotional gifts do not always have to be customers. Deliver this type of merchandising for companies to suppliers or, even, to friendly companies, close ties with them, strengthening commercial relations with them. All the previous aspects come together in the achievement of an increase in the company's sales. Advertising impacts, loyal customers, ideal projected image or excel over the competition, what is achieved with the company's merchandising is incredibly beneficial compared to the investment made.

The product offered in response to a need and according to the expectations of the customers cause companies to have to place the consumer at the center of their strategies to create value, hence the importance of listening to customers and trying to maintain closer relationships with them, in addition to resorting to direct observation and the effort to understand their behavior as the only way to know what they really need. Once the need that satisfies the product or service is known, the brand can get the loyalty of those who consume it, for this Levi’s have to offer a set of intangible benefits that exceed the scope of the product '. So, for example, it is possible to establish a higher price than similar products due to the value they represent to the customer.