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Post 12: Promotion

When it comes to promotion, Stance is king. They are the Uncommon Thread meaning they are different than others. Stance has collaborated with NBA players, Dwayne Wade, Harden, Klay Thompson and like pop star Rhianna, all designing their own socks. By doing this Stance fits right in with the product mix of promotion. From an article in Groom and Style Magazine shows, Since 2009, Stance have sold more than 15 million pairs of socks, and It gets better. In 2015, the National Basketball Association announced that Stance would be not only the official on-court sock of the NBA, but that they are also allowed to display their logo on licensed equipment is a privilege not even granted to the likes of Nike and Adidas. Ifs that’s not promotion, I don’t know what is.

Stance is using social media portals such as Instagram (1.1M followers), Facebook and its own website to tell their story and share their lifestyle and brand. Stance is a Business to Business and Business to Consumer Brand and personal selling with this brand is not needed. They have also enlisted a playlist of athletes, artists, celebrities and many more to promote their brand giving them a competitive advantage in a relevant market. I see no billboards, bus stops or any of that. Refer to Post 11 for distribution.

Lifestyle. (2015). How Stance Became the Hottest Sock Brand in the World. Retrieved from.http://groomandstyle.com/stance-socks-review-hottest-sock-brand/

Adam Tschorn. (2015). How Stance socks got to be on Rhianna and NBA players feet. Retrieved fromhttp://www.latimes.com/fashion/la-ig-stance-20151018-story.html

#stanceadventure

Post 11: Place (Distribution)

Stance distribution is larger than just socks sold in major retailers like Nordstrom’s, Footlocker. Their distribution is to the athletes. Skaters, Pop stars and musicians and artists they have. Because of the specific people and company’s they are associated with they have the potential to reach a wider range of avenues. This is taking an intensive distribution approach by getting into as many outlets as it can. Â For example; they have Star Wars and Disney printed socks that target the Star Wars fans from inside their home to Comic Con conventions as well as Disney Fans. Now people want to wear the printed socks to show their support. Stance is its own manufacturer distribution.

From a radio interview with Josh James CEO of Domo who invested $200k in to the sock company that Jeff Kearl the CEO and founder of Stance who also happens to be the founder of Skull Candy has raised over $110 million dollars from 2009 to now for the expansion of the company.

Sara Macbride. (2017). Silicon Valley’s Next Target for Disruption Is Socks. Retrieved from. https://www.bloomberg.com/news/features/2017-10-03/silicon-valley-s-next-target-for-disruption-is-socks

Post 10: Trends and Pricing

Stance socks are stepping up to the fashion plate as a trend that appears to be gaining momentum on the BYU campus. Ashton Strauss and former intern of Stance said, “Since working at Stance Socks HQ, I notice them all over campus on girls and boys alike. Strauss said. “They are so unique; they are nothing like any other socks I have been interested in buying. I think they have really cool designs and they are really high quality socks and they last forever.

They say that socks are your shoes best friend and that socks are the new best accessory. Since Stance hit the small surf shops of southern California 2010 they have taken off. Although pair of Stance socks will cost you $12-$18 on average which is an insane price for a pair of socks right; but is it worth it?

When asked in Groom and Style why people love Stance, a reply was, They’re just so damn cool. What's not cool, is defining yourself according to socks, but when the situation demands a sock game thatâ€™s strong beyond any doubt, the options from Stance are outstanding. The decision to purchase these socks would be evoked and retrieval. You would always remember the feel ad would always consider them when buying socks.

David Willey editor and chief of Runners World said, “I think I’ve found the only socks I ever want to wear again! Stance socks combine technical cred with great fit and colorful cool. In an interview with Kobe Bryant after a win against the Golden State Warriors, he stated that the socks are what helped him get the win. He said, its the power of the socks, it’s gotta be the socks.

Price was high at first, but the growth of the company first landing in stores 2010 has now made it worldwide and sold in over 40 counties. I would say the price is fair.

Calee Naylor. (2016). Stance socks continue to step through BYU. Retrieved from.http://universe.byu.edu/2016/02/09/stance-socks-continues-to-step-through-byu1/

Lifestyle. (2015). How Stance Became the Hottest Sock Brand in the World. Retrieved from.http://groomandstyle.com/stance-socks-review-hottest-sock-brand/

#Stanceworld

Post 9: Services

Stance is customer service based and offer services online through their website. Stance is a product that is both B to B and B to C (business to business and business to consumer). Although you can purchase Stance product through their website, it is mainly sold at other retailers. To name a few major retailers, there is Nordstrom, Amazon, Footlocker, Tilly’s, Pacsun, Dicks Sporting Goods and more. The first three accounts were specialty surf shops: Surfside Sports on the Costa Mesa/Newport Beach border, and Jack's Surfboards and Huntington Surf and Sport, both in Huntington Beach.

Through research there have been many positive feedback from customers through their VOC (voice of the customers) and reviews of the quality. Stance provides procedural fairness when dealing with warranty issues, the policy its states, “We will replace any items that have been deemed defective, as opposed to wear and tear, within 30 days of purchase. If mot ordered online through Stance.com, a receipt of purchase will be required to verify the purchase date”. This is fair and shows consumers customer excellence. Stance is also socially responsible with some of its collections lines of socks where a portion of the proceeds go towards the Clara Lionel Foundation to help promote education.’

Stance Company

https://www.stance.com/warranty/warranty-faqs.html

Adam Tschorn. (2015). How Stance socks got to be on Rhianna and NBA playersâ€™ feet. Retrieved fromhttp://www.latimes.com/fashion/la-ig-stance-20151018-story.html

#getyourselfspair

Post 8: Brand Detail

Stance is a unique brand and consumer product with its on personal art. Because this brand focuses on comfort, expression and design this would fit in the category of shopping product/services because consumers will spend a fair amount of time comparing alternatives because of the wide variety sock out manufacturers out there. Yet it’s Stance’s creativity and designs that increases their product breadth which in turn inspires different cultures, lifestyles and the personality of the individual. This also increases the depth of the company’s product line.

Speaking of depth, Stance also increased the depth of their product lines by adding lines by bras and undies to the woman’s class found under their Intimates sub class tab. This is also known as a line extension and their focus and ingenuity with what they are doing with socks I’m sure will be reflected Â with their underwear lines for both men and woman.

Stance has become a Manufacturer Brand itself and combines the Four Ps of the Product Mix. High quality product, place and locations where these socks are available are abundant, promotion is on point working with celebrities, is now the official NBA and MLB sock brand; something is going right. The price at first I thought was high, but the brand and its success speaks for itself and the price I believe is right.

Adam Tschorn. (2015). How Stance socks got to be on Rhianna and NBA players feet. Retrieved fromhttp://www.latimes.com/fashion/la-ig-stance-20151018-story.html

#Stancelife

Trying to keep up with all these styles.

worldofstance-blog

Post 7: Packaging

worldofstance-blog

Socks are a commodity and let me give you are rundown from after your sock purchase. First they come out of the packaging and onto your feet to be worn, afterwards it goes into the laundry to be washed, once dried it is then rolled up then tossed into the sock drawer only to be repeated the next time you wear them, sounds about right. Socks need minimal packaging. Stance displays their socks in the best effective and innovative way and form. A hook with the Stance branding on it for hanging purposes and merchandising appearance, simply simple label showing the brand and description of the type of sock from combed cotton, medium, light or heavy cotton. On the back it will show a size chart to better help this business to consumer relationship. Along with the name of the sock design, UPC and price. Also the Stance name and website. A simple look that creates value while expressing the lifestyle Stance is all about.

worldofstance-blog

Post 6: Competition

Apparel has been a competitive market for some time now and these markets are ruled by powerhouse names such as Ralph Laurent, Nike, Adidas, Reebok and now Under Armor not to mention other smaller companies. Yet Stance didn’t want to just go into clothing or shoes or any of the big stuff. Instead they wanted to focus on socks only and now they brought in underwear which is also a success, but lets talk about the socks. Stance’s revenue was estimated at $180 million in 2015. This in a BRAND that has innovated the Sock market and they are doing something right!

Stance President John Wilson said, What’s long-lasting is the category, our obligation and challenge is to make sure to present it in a fresh way that’s relevant to the consumer. They wanted to segment the little guys away from the equation and categorize it into something better. Take the neglected category and give it its own category aside from its competitors. People don’t say tissue anymore, they say Kleenex. When you hear the word Stance, you know their socks is in a category of its own. Their market share competes with the highest holding about even, but if you go head to head socks for sock. Stance will win.

Brittany Levine. (2010). Edgy local brand pairs socks with expression. Retrieved from

http://www.ocregister.com/2010/09/13/edgy-local-brand-pairs-socks-with-expression/

Mediha Dimartino. (2016). Sock maker raises $30 million. Retrieved from

http://www.ocbj.com/news/2016/may/02/sock-maker-raises-30m/

#StanceWins

Post 5: Target Market

Stance’s demographic target market is geared to ALL genders and ages from 7-30+, my grandpa rocks Stance. And the income varies, I would say that they target the incomes of $15,000 and less. They target to skate, snow, and street; the athletic and casual worlds. Their psychographic targets are their creativity and self-expression of their brand. They want the benefit of the consumer to express themselves through their socks. Defining themselves by their apparel. They are socially driven collaborating with all athletes and celebrities and giving back to charity through their collaborations. They are behavioral and performance driven and while they have recently had added younger kids and baby socks. Stance is one of the only brands in a long time that have their brand stamped on private and professionally owned league apparel (The NBA and MLB), Stance is their official sock.

Darren Rovell. (2015). NBA agrees to licensing deal with STANCE. Retrieved from

http://www.espn.com/nba/story/_/id/12774759/nba-agrees-licensing-deal-stance-league-official-sock

Brittany Levine. (2010). Edgy local brand pairs socks with expression. Retrieved from

http://www.ocregister.com/2010/09/13/edgy-local-brand-pairs-socks-with-expression/

Post 4: SWOT

Strengths:

· Creative Designs and Style

· Product Durability

· Open to Culture and Lifestyle

· Young minds and Creative Team

Weakness:

· Price/Cost (Average $12 per pair)

· More variety of solid colored socks

· Adult socks not sold in bundle packs

Opportunities:

· Increased Availability of women sizes at retailers

· More social responsible Ways to give back

Threats:

· Price

· Other Brands (i.e. Nike, Bombast, Adidas, etc.)

An opportunity I see for this brand would be to gear more towards the lifestyles of woman. Increase the amount of women’s Stance availability at their approved retailers. From an article in Forbes Magazine states “if the CONSUMER economy had a sex, it would be female”. Women drive 70-80% of all consumer purchasing, through a combination of their buying power and influence”. This pretty much says it all. Even if the woman didn’t buy it, she had an influence in the purchase. That’s a primary stakeholder you would want to have.

Bridget Brennon. (2015).Top 10 Things Everyone Should Know About Women Consumers. Retrieved from https://www.forbes.com/sites/bridgetbrennan/2015/01/21/top-10-things-everyone-should-know-about-women-consumers/

Inside Stance's wild sock factory

#StanceGetSome

Post 3: Strategy

Stance’s claim to fame that separates them from the overall boring solid black or white socks are its combination of design, style and comfort. Â Their difference and bold designs inspire their culture. You can say that Stance targets all walks of life from causal to athletic. Stance makes casual, performance and premium socks that cater to woman, men and children. Materials used are polyester, combed cotton, spandex and also involvement with developing their own proprietary fibers adding to their product excellence. Only the finest designs and materials used that speak to its consumer. Stance provides locational excellence through retailers such as Footlocker, Dick’s Sporting Goods, your local surf/board shop etc. You can also purchase through them direct on Stance.com and even Amazon or other online retailers. Their operational excellence has grown. San Clemente Journal shows that The Company first began shipping product in 2010, and through the end of 2015 had shipped upwards of 15 million pairs of socks. Available now for sale in over 40 countries. Their customer excellence is still under review. Socks go through a beating so it’s difficult to complain about socks. Yet the company will stand by their product and refund socks that are deemed defective within 30 days with proof of purchase. That’s a pretty sweet warranty when it comes to socks and underwear.

San Clemente Journal. (2017). Making socks in a flip flop http://www.sanclementejournal.com/2017/03/06/136652/making-socks-in-flip-flop-town

#stancelife

Socks are the next best accessory. Just an example from my younger brothers wedding I attended last year. What's on your feet?

#stance #best socks ever

Post 2: Brand

Stance is more than just socks, it's expression, it's art, its collaboration and it's a movement that promotes value. A great example of entrepreneurship. Stance has embraced "The uncommon thread" as a mantra. When was the last time you wore a pair of socks because you loved them? Like I said in post 1. You can express your personality and style from your feet. Socks are the new and next best accessory.

Stance is an American clothing company that focus on socks and underwear. It was founded in 2009. Stance is headquartered in San Clemente, California. Stance manufactures socks for all gender and ages. Their performance and styles cator to everyone including kids, athletes, artists and during the 2015-2016 season has been named the official on-court sock of the NBA. Stance product can be purchased through dealers/retailers such as Jack's Surfshop, Active, Dicks Sporting goods, and more. The company also offers their product online. The company is revenues at est. $180 million. Stance socks are found in over 40 countries now and can be and show to be an ethical and socially responsible brand. I will post more about their movement and endeavors.

(ocbj.com/news/2016/may/02/sock-maker-raises-30m)

Post 1: Stance

I chose this brand because it was different, it was unique. The quality and creativity of the designs, one can express their personality from underneath your pant leg or out in the open sporting a pair of shorts and one of your favorite sneakers. It’s an expression from your sole to the world. Get some.

#stance

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