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Case Study Of The Company Called CASPER

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Question:

You have to Write a Case Study of the Company Called CASPER. the Website address is casper.com.

 

Answer:

Introduction

Background Information

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.

 

Products

Casper specializes in mattresses. The mattresses consist of hybridized blend of two materials across four single layers. The layers are:

  • Top layer which is 1.5 " comprising of open-cell synthetic Dunlop to keep cool at night.
  • Third layer- which is 5 " made of high-density viscoelastic foam for pressure relief.
  • Second Layer which is 5 " which provides comfort and consistent weight distribution
  • Base layer. It is made of polyurethane form which strengthens the support

Business Model

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.

My Evaluation of the Strategy and Future Prospects

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).

SWOT Analysis

Strengths: 

·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

weakness

 ·The company deals with only one line of product. It does not entail diversity.

Opportunities :

·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.

 

Threat.

·Several competitors are diverse hence providing people with alternatives to choose from.

 

 

             

PEST Analysis

Political Environment

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).

Economic Environment

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).

 

Social Environment

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.

Technological environment.

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.

Ratio

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).

 

Summary

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.

 

References

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

Identified: 50Minutes

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

OR

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