The use of the social media and the internet to conduct business activities is growing at an alarming rate. Most companies have websites to help them reach the target audience by connecting them to their social sites which include Facebook, Instagram, Twitter, and YouTube. Competition has increased globally. But how do firms withstand this challenge? Casper is a privately owned company which is located in the United States, New York City. The Company conducts most of its business activities online. Casper was launched in 2014 by Philip Krim, Jeff Chapin, Luke Sherwin, Gabriel Flateman and Neil Parikh (Casper, 2017).The firm’s objective was to increase the distribution of mattresses in the US (Weinberg, 2014). To make people aware of the company, it uses a website to carry on its activities. Most of the manufacturing operations take place in Pennsylvania and Georgia. The online business strategy has made Casper be among the companies with high returns inwards in the US. But how is this possible yet several companies run such kind of business online?
Through ventures from several firms and people, Casper was able to expand its business activities from the US to include Canada in November 2014. Some of the great individuals who have invested with Casper include celebrities like Leonardo DiCaprio and Adam Levine (Allen, Yaeckel & Allen, 2011).The venture companies include Pritzker Group Venture Capital and Crosslink Partners. Funding from these sources has impacted the company’s gross profits. Currently, Casper is among the most successful companies competing with companies like Norwegian Cruise Ship (NCL) making it in the list of enterprises’ able to make more than one hundred million US dollars ($100 million) in less than two years. The future of the company seems to be great especially with the growing technology.
Casper specializes in mattresses. The mattresses consist of hybridized blend of two materials across four single layers. The layers are:
Casper makes good use of its business models which entails clients buying mattresses online. Customers make orders, and the mattresses are delivered to them. Casper also has provided its consumers with one type of mattress, therefore, giving the user an easy time to choose. Other companies provide the consumer with several choices which leave them with the difficulty of determining which the best type of mattress to buy is (Watson, 2015). Being objective in the kind of mattress to provide is a very helpful strategy for the company in its operational model. Most people will go for mattresses from Casper simply because they are sure of what type and quality to expect. Nevertheless, the elimination of the middlemen in the distribution channels makes the company’s products affordable to many. The application of Middlemen in the supply chain increases the cost of the final product in the retail shops. What if we do away with retail stores? Then we will have to buy the mattresses from the manufacturers who are of course cheaper as compared to buying from retailers (Muehlhausen, 2013). Another strategy employed by the company is through investing in advertising. Most people living in New York City know about the existence of Casper through their adverts which can be located in taxis, posters, and billboards. Above all, the buying of mattresses online has promoted the organization’s activities.
Casper has good strategies which have enabled it to shine in the market. The market competition is very stiff, and there is the need for a company to bring up the best strategy possible. We can evaluate the significance of these strategies through the SWOT and PEST analysis of the company (Pahl, 2013).
·Casper has a well-developed website which is easily accessible to many clients willing and able to trade with them.
·Casper is located in New York City which is economically and politically stable.
·The organization has a well-established administration hierarchy.
·The company has several able financial investors who make it possible to operate even during financial crisis
·The company deals with only one line of product. It does not entail diversity.
·Use of social media platforms to advertise and create awareness of Casper Company.
·With more funding from the investors, Casper can expand its activities as well as structures.
·Several competitors are diverse hence providing people with alternatives to choose from.
Casper is located in the US which is a politically stable nation. The politically stable environment has provided the firm with a conducive environment to work in. The US government has set laws which help to protect the environment, as well as the consumers. This has made the organization to operate under a defined ethical framework. Operating under moral framework has assisted in building the organization’s trust and reputation hence attracting more clients (Marmol & Probert, 2015).
Casper Company is located in the United States which economically stable. This means that the consumer income is high hence making it possible for them to pay for the company’s products. With globalization, so many people are moving into the US. This increasing population provides labor and market for the firm (Weaver, 2013).
The US population growth rate is increasing rapidly due to globalization and the immigrants. This has lead to the rise in the number of people who rely on the company for mattresses. Sleep is among the basic needs of people which must be fulfilled. Visitors do not know which the best choices is in a foreign nation are. Therefore, having one single choice provides Casper an advantage to trade over competitors.
The Casper firm has employed modern technologies in advertising and getting access to its clients. Due to multimediality which is supported by the new technologies, Casper is able to upload pictures, Videos or audio materials which will make them promote their products. Nevertheless, most people in the US have access to devices which can support internet services. These people can access the organization’s website from any place and make their orders.
The financial ratios of the company are well balanced. For instance, the liquidity ratio which is derived from the current business ratio is well off. The firm has enough liquid cash to help in running the business activities and respond to emergencies. Casper also makes huge profits. For instance, within its two years of operation, the firm had made more than one hundred US dollars. Having a balanced financial ratio is the key to the success of any business. Nevertheless, good financial statements are useful in determining the future of the company. Strategy evaluation of the Casper industry can be done through the analysis of the different financial ratios. Currently, their strategies are working well. The company has made lots of profits from the sale of mattresses (Tirole, 2012).
Casper mattresses firm is well performing in the US. Its strategies are significant in achieving its objectives. There are several companies which operate online but never get to make profits like Casper (Orsburn, 2011). What might be the reason behind this? Through analyzing the Casper case study, we find out that Casper has employed more than one strategy to acquire its potential stability. For instance, providing consumers with one kind of product, therefore, making their choices easy, investing in online advertisements through their well-established website and investing in other forms of advertising in the streets like for instance in cars and billboards. From the SWOT and PEST analysis, we find out that Casper has more potential of growth. The politically and economically stable environment, the emerging new technologies and the social media all play a major role in the continuity of the company.
I think the best business model employed by the firm is the elimination of the middlemen in the distribution channel. Middlemen entail the inclusion of retailers. When retailers buy goods from the manufacturers, they incur several types of costs which include transportation, purchasing, labor, the cost of hiring their premises, packaging costs and so many others. For them to compensate these expenses, they will have to sell their products at high costs. For instance, a commodity bought by a retailer from a manufacturer can reach the final consumer at a price which is almost as twice as the price the retailer bought it from the manufacturer. This scares away the consumers who will in most cases prefer to buy from the manufacturer. In fact, I can say that this is a competitive advantage Casper uses to withstand the market competition (Vance, 2015).
Despite the application of the single product serving well for the company, there is a need for diversity so that in future Casper can make more profits.
Casper. (2017, March 28). LIVE THE DREAM. Retrieved from Casper: https://casper.com/
Marmol, T, Feys, B., & Probert, C. (2015). PESTLE analysis. Place of publication not
Pahl, N., Richter, A., & University of Applied Science Berlin. (2013). SWOT analysis: Idea,
Methodology and a practical approach. Munchen: GRIN Verlag
Allen, C., Kania, D., Yaeckel, B., & Allen, C. (2011). One-to-one web marketing: Build a
Relationship marketing strategy one customer at a time. New York: John Wiley.
Weinberg, T. (2014). The New Community Rules: Marketing on the Social Web. Sebastopol:
O'Reilly Media, Inc.
Vance, D. E. (2015). Raising Capital. Boston, MA: Springer Science Business Media, Inc
Watson, D., & Serious Investor Groups. (2015). Business models: Investing in companies and
Sectors with strong competitive advantage. Petersfield [England: Harriman House Pub.
Muehlhausen, J. (2013). Business Models for Dummies. Hoboken: Wiley
Price, Waterhouse & Co., Price Waterhouse (Firm), Price Waterhouse (Firm)., & Price Waterhouse World Firm Services BV, Inc. (1980). Doing business in the United States. New York: Price, Waterhouse
Weaver, F. S. (2013). The United States and the global economy: From Bretton Woods to the
current crisis. Lanham: Rowman & Littlefield Publishers.
Orsburn, E. M. (2012). The social media business equation: Using online connections to
grow your bottom line. Australia: Course Technology PTR.
Campbell, D. (20116). Business Strategy. Palgrave Macmillan
Tirole, J. (2012). Financial crises, liquidity, and the international monetary system.
Princeton, NJ [u.a.: Princeton Univ. Press
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2018). Case Study Of The Company Called CASPER. Retrieved from https://myassignmenthelp.com/free-samples/case-study-of-the-company-called-casper.
"Case Study Of The Company Called CASPER." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/case-study-of-the-company-called-casper.
My Assignment Help (2018) Case Study Of The Company Called CASPER [Online]. Available from: https://myassignmenthelp.com/free-samples/case-study-of-the-company-called-casper
[Accessed 30 March 2020].
My Assignment Help. 'Case Study Of The Company Called CASPER' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/case-study-of-the-company-called-casper> accessed 30 March 2020.
My Assignment Help. Case Study Of The Company Called CASPER [Internet]. My Assignment Help. 2018 [cited 30 March 2020]. Available from: https://myassignmenthelp.com/free-samples/case-study-of-the-company-called-casper.
MyAssignmenthelp.com provides guaranteed satisfaction with a commitment to complete the work within time. Combined with our meticulous work ethics and extensive domain experience, MyAssignmenthelp.com is the ideal partner for all your homework/assignment needs. We pledge to provide 24*7 support to dissolve all your academic doubts. We are composed of 3000+ esteemed experts who have been empanelled after extensive research and quality check. MyAssignmenthelp.com provides undivided attention to each assignment order with a methodical approach to solution. Our network span is not restricted to US, UK and Australia rather extends to countries like Singapore, Canada and UAE. Our assignment help services include thesis help, case study help, homework help, coursework help, MBA help and Programming help. Get your work done at the best price in industry.
Answer: Introduction Sexual harassment takes account of behaviours from glances and inappropriate comments, jokes majorly based on gender stereotypes to sexual assault and other acts of physical violence. The addition to the principle of human dignity in Catholic social teaching has been the notion of unity and solidarity. Moreover, the assurance of personal dignity positions on protections ensured by the society. According to Triana et al. (...Read More
Answer: The Post The Fitbit is an accessory health device which is quite popular with respect to the fact that, health and fitness has become a premium industry. The Fitbit business started back in 2009 and gained utmost popularity in those days. The business model of the firm aims to provide a differentiated product to the different customers with various health data in return which can be useful in measuring the overall health and fitness a...Read More
Answer: The selected product overview L’Or`eal S.A is a France based personal care company the headquarter of which is located in Clichy, Hauts –de –Seine. The company was founded by Eugene Schueller in the year 1909. The CEO of the company is Jean –Paul Agon and by the year 2017, the company has gathered revenues up to 4. 676 billion Euros. It has been considered as one of the largest brands in the c...Read More
Answer: Introduction: Price water house coopers is a professional services provider, which is a multinational company networked with firms in more than 158 nations. The services provided by the company include capital markets, audit and assurance, financial counseling, financial solutions, improved decision making, and many more services to private and public clients (pwc, 2019). Diversification strategy There are various types o...Read More
Answer: Introduction Communication can be defined as the exchange of information that takes place between a sender and a receiver (Habermas, 2015). With the emergence of technology, the process of sharing information has shifted from face- to- face interaction or paper work to the use of electronic media. Communication that takes place with the help of electronic media is known as electronic communication or e- communication. The term communi...Read More
Just share your requirements and get customized solutions on time.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
Awesome write up for my assignment!!! Worth the money paid!!! Will come back .....
I really appreciate how the editor understood what I really meant to say thus making me feel more confident in submitting my work. I am an extremely happy customer. I will definitely sen un update on my grade.
Excellent work. We got total of 68 marks and we are very satisfied with the score. We gave this assignment near to deadline which is 2 days before due date. The assignment was about 4000 words and they did it well and gave it before 8 hours of submis...
I can\'t complain, speedy service and got the assignment before the deadline and got full mark