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Predicting Consumer Tastes With Big Data At Gap

Solution Id Length Case Author Case Publisher
2207 664 Words (3 Pages) Ayelet Israeli, Jill Avery Harvard Business School : 517115
This solution includes: A Word File A Word File

The Product 3.0 was a strategy undertaken by Peck as it would combine the brand vision of the company with a common operating model of the business. The strategy is concerned with analyzing the fashion trends and how they are performing in real-time in order to manage the inventory of the company accordingly. The strategy is consistent with the evolving tastes and the preferences of the customers who are seeking for new, unique designs at all times.

Following questions are answered in this case study solution:

  1. What is your assessment of Product 3.0? How would you improve it?

  2. Would you change other elements of the marketing mix to address Peck's problems? Which ones and how?

  3. For which purposes are big data/predictive analytics more or less useful in marketing? As we move into a world filled with more data, what is the role of art versus science in marketing? Under which conditions should "science" rule and under which conditions should "art" rule?

Case Study Questions Answers

The business strategy would allow Gap to become a trend creator through which it can make use of a differentiation strategy. This would also allow for effective utilization of resources as the trends that are demanded most will be filtered and will allow the business to grow sustainably in the future. The strategy can be further improved by improving the supply chain of the business so that the inventory is available at all times. As it is known that as part of the strategy, a small quantity of goods can be placed in stores to evaluate the reactions of the customers before whole lots can be placed in the stores to cater to the needs of the customers. The gap can further capture the suggestions of the customers for its products to filter out products that need to be circulated in the market and that would generate a higher value for the business. 

2. Would you change other elements of the marketing mix to address Peck's problems? Which ones and how?

The pricing strategy of the business has to be reviewed as the brand is entering into the fast fashion segment which needs to be priced at a cheaper level to be able to attract a large number of customers. 

Also, as far as place is concerned, Gap can enter new distribution platforms particularly the online channels so as to enhance its customer reach. It can introduce its limited range of items on e-commerce platforms to evaluate the customer response and then accordingly circulate its products in the market.

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