This website uses cookies to ensure you have the best experience. Learn more

The Trouble With Wet Seal {Introduction, History Of The Retailer,Identify A Problem, Make A Plan Of Action, And Then Find Ways To Implement Your Plan, And Conclusion}

1316 words - 5 pages

Introduction/ThesisWet Seal prides their merchandise as being "first, fresh, fun, and definitely fun". Although that saying once held true, today Wet Seal's sales are quickly declining. Though this could be due to a number of reasons, one of the most imperative causes is the failing to understand exactly who their target customer is. It seemed they had jumped on every fashion that seemed to be remotely popular too hastily and had too much of it. They brought in an overly eclectic assortment of clothing that included styles varying from urban to skater and eventually led to customer confusion. That particular mix of merchandise does not identify with one customer and became confusing as to what kind of a store Wet Seal is and what demographic they were and still are seeking to obtain. They acquired and placed too many dissimilar trends in the store, thus abandoning their target customer and leading them to experience ineffective and extremely imperceptible sales.Background of the CompanyWet Seal started out in Newport Beach, California in 1962. Its original name was "Lorne's" named after Lorne Huycke, the founder and owner. The company soon became known as Wet Seal after an auspicious remark made by his wife stating that a swimsuit model looked like a "wet seal" walking down the runway in a black, shiny swimsuit. Soon after that propitious occurrence, Wet Seal's product demand grew rapidly and by the late 1970's and early 1980's expanded to more than a dozen retail locations. In 1995, Wet Seal attained 237 Contempo Casuals stores from the Neiman Marcus Group. Wet Seal Inc. then created a concept for a more upscale retailer, Arden B. in 1998 launched the store in 2001, as well as a store dedicated to "tweens" referring to girls from the ages of five to twelve, named Zutopia in 2001. Today, Wet Seal currently operates 600 stores in virtually every state as well as in Puerto Rico and Washington D.C. Even though Wet Seal manages to have an abundance of retail locations, the company has seen four repeated quarterly losses while sales continue to degenerate. Despite the adverse times Wet Seal is facing, the new company CEO Peter Whitford is eager to turn the business around in 2004.Current IssuesOne of the misconceptions the Wet Seal stores had was that they tried to gain interest of older customers by adding merchandise they thought would appeal to an older crowd. By leaving behind their age demographic of girls from to ages of 12 to 18, they lost their central customer. Instead of keeping their concentration towards the preppy, solid look of their clothing, it seemed as though they nearly cleared all that merchandise and brought in the punk look, or whatever trend was in the moment for the entire store. They were right in bringing in those trends; however, they apparently tried to ride the trend wave for far too long. Then when they decided to try and mix up their merchandise, they went about it in the wrong manner. For example, at one time Wet Seal...

Find Another Essay On The Trouble with Wet Seal {introduction, history of the retailer,identify a problem, make a plan of action, and then find ways to implement your plan, and conclusion}

Developing the Strategic Plan for Civista Medical Center as They Implement a Cardiac Rehabilitation Program

1001 words - 4 pages Financial planning is a key element in the implementation of the strategic plan to ensure organizational objectives are met. The objective of this paper is to continue to develop the overall strategic plan for Civista Mecial Center as they plan to implement a cardiac rehabilitation program. The projected budget will be discuseed along with financial assumptions and capital expenditure planning. The budget will be summarized and the projected

Action Research Plan to Analyze a Professional Development of East Memorial Elementary Implementation

2073 words - 8 pages Introduction East Memorial Elementary (EME) is consisting of Kindergarten through Fifth grades. The school is a part of Weld County School District Six (WCSD 6). The population of the school is a little over 500 students. The school is in Greeley, Colorado about an hour north from Denver. An action plan was conducted to find ways to increases student achievement of English learners (EL) at EME. According to State test data EL students are

Concept Diagram and Action Plan

2319 words - 10 pages the table singing the song “Do you want to build a snowman”. They then move near to a cupboard when Sheena suggested singing the song “Do you want to build a snowman”, and Jeric agreed. Jeric then walked to the other side of the cupboard and sat down with the back leaned on the cupboard. Sheena knocked 3 times on the cupboard and started singing: “Jeric? Do you want to build a snowman? Come on let's go and play, I never see you anymore. Come out

Volunteers of America (VOA) Analysis, Reporting and Action Plan

1579 words - 6 pages shown that the basis for the turnovers at VOA are due to; Inadequate wage levels & benefits, Poor morale & level of motivation, Dissatisfied with organisation policies, Job satisfaction level, Inflexible & long working hours. I also detailed a utilization and action planning chart to help them with ways of reducing retention. Following these proposed guidelines based in my report the organization could possibly reduce their retention

Comprehensive Plan To Solve The Foreclosure Problem

1141 words - 5 pages The government initiated the Troubled Asset Relief Program or TARP, to stabilize the banking system, free up the credit market, and help homeowners stay in their homes. The biggest mistake the government made with that program was not having any stipulation as part of their loan agreement with these banks, which would require those institutions to modify a certain number of loans. In the case of Bank of America that received $45 billion in

Problem: Complete Ramsey Walker's profit plan for the children's book line. What are your work assumptions: which of these assumptions are critical to your analysis?

628 words - 3 pages sales.2. Profit % is the most critical measurement of a business performance. Without profit or potential to earn profit in the future there is no meaning for a business to continue. It is simply calculated by using profit divided by the sales.3. Average unit sales help the company to find the right format which is more profitable and more popular, and affect the company's future strategies. Using the total units sold for one format divided by the

Action Plan

2098 words - 9 pages valuable takeaway that I could obtain from this course indeed. And from such experiences, I could draw a big picture of how to approach and further my study in a more practical sense so that I can finally make that happen during my journey. Thus, I would like to make my action plan in the following section, although that may be still rough and vague to some extent. IV. Academic action plan Up to this point, I described the general research interest

Marketing Plan for the introduction of Virgin jeans

3470 words - 14 pages systems and networks. An practical example would look like this: a consumer browses through the Virgin Jeans Web site, then places a direct order, pays with his credit card and can then choose between a delivery per mail for an extra fee or collect his jeans at the nearest outlet. This avoids the very annoying situation to make one's way to an outlet just to find the required jeans sold out. Furthermore would this action automatically update the

Coursework and practical plan for title "Investigate the effect of temperature on the action of the enzyme diastase on starch."

1003 words - 4 pages For my investigation, I plan to examine the effect temperature has on enzyme action involving the biological catalyst- diastase, and its substrate- starch. In lesson, I have conducted a preliminary experiment to give me an idea of what to expect and a chance to conduct the experiment before hand. From my preliminary work I believe that an equal amount of substrate (Starch) with an equal amount of enzyme (Diastase) should finish reacting at

In the role of a marketing consultant provide an integrated marketing communications plan for a company of your choice

742 words - 3 pages planning system will be used in this report as an initial framework to develop a communication plan for Google Nexus 5. It is one of several ways to develop a marketing communication campaign which consist of all essential elements that any plans must have. The SOSTAC system includes situation analysis (or context analysis), objectives, strategy, tactics, action and control (Smith and Taylor, 2004). With a simple structure made up from series of simple

Proposed Plan to Ease the Financial Crisis and Foreclosure Problem in America

1715 words - 7 pages The United States of America currently faces a massive financial crisis that has led to numerous foreclosures and a loss of confidence in financial institutions. The United States government must take decisive action to give those with impending foreclosures the ability to keep their homes. Furthermore, these government actions should focus upon ensuring that people are able to pay on own mortgages, rather than relying upon bailouts from the

Similar Essays

Identify And Analyze The Strategic Plan Of Your Organization And The Role Of Tqm In That Organization's Strategic Plan: Riordan Corporation

1740 words - 7 pages a key role in customer satisfaction, and can have a detrimental impact on organizational profitability.ConclusionRiordan has a history going back 16 years to the start of the corporation in 1991 when the company was fist established. Over the years the company has expanded and now has earned international acclaim. Over these several years the strategic plan has been crucial to Riordan's success. As stated above this success is proven in the

Change Process Of Lizard Lick Fine Paper Mill: Diagnose The Problems, Identify Solutions/Interventions, And Develop An Action Plan For The Paper Mill

8322 words - 33 pages the best alternatives with respect to its respective problem. An action plan will then be developed based on the recommended interventions, and the people needed for the change to be implemented will be assigned to their roles in the action plan.1.4 Assumptions & LimitationsLizard Lick Mill is assumed to be an open-system organisation, easily affected by their external environment, and their production process and ways of doing things have

Individual Development Plan. Understanding Your Strengths And Weaknesses And The Decisions Or Actions You Need To Make To Better Yourselves

1585 words - 6 pages have taken a step back, thought about it, and then take action. This can affect my performance and the ability to complete tasks efficiently and on schedule in this results-driven world.As described earlier, I am able to work well within organizational structures, however there are a few things I need to work on in terms of team dynamics. I am not very personable. When meeting with teams or people, I often focus on the purpose at hand. I seldom

Nutritional Report For A Male Football Player Question: Develop A Nutritional Plan For An Athlete Of The Sport Of Your Choice. Prior To This, Ask The Athlete To Fill In His Current Nutritional Intake...

4819 words - 19 pages athlete a personal detailed analysis of their diet and consequently allow them to adjust and adapt their diet to become more efficient and effective for their sport.One of the three macronutrients is carbohydrate (CHO); it is a type of organic molecule consisting of a carbon (C) back bone with attached hydrogen (H) and oxygen (O) atoms. Carbohydrate can be broken down and classified into simple and complex carbohydrates; these classifications are