Cornerstone by Hornsby, Jean-Luc (2017) https://padlet.com/jean_luc_hornsby_2017/901da90ens30 en-us 2018-10-11 12:01:25 UTC 2025-10-04 12:01:16 UTC hello@padlet.com Definition of the market jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299373851 rank weight of KSFs by looking at customer perceptions

The Subscription industry encompassing giants such as Netflix, Amazon Prime, and Spotify has created a highly-popular and rapidly-growing new segment known as the 'shave club market' or the shaving e-commerce market.

This industry anchors itself on the appeal of convenience, a growing consumer interest since the arrival of e-commerce and its consequent innovations. The business model offers customers a fully customisable monthly package of shaving products, at a low price, with a full cancellable and 'full refund' policy.

Male consumers have responded extremely well to this new alternative, proven by lead men's shaving brands (such as P&G and Unilever) suffering considerable loss in market share to shave clubs such as Cornerstone and Harry's and a forecasted growth of £270 million by 2025]]> 2018-11-01 14:07:58 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299373851 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299374118 -Dorco (Cornerstone's closest competitor)
  1. Rapidly growing presence, gathering increasing influence in UK
  2. International presence
  3. Sells to both men and women 
Weaknesses:
  1. Based in South Korea with comparatively low Western recognition
  2. Weak marketing strategy in spite of positive reviews

-Gilette Shave club: (Owned by Proctor and Gamble)
Strengths:
  1. Strong brand recognition 
  2. Holds high market share in the retail-based shaving industry
Weaknesses:
  1. Poor online presence and service
  2. Does not yet offer a fully automated service like competitors but instead redirects customers to Amazon and Boots
]]> 2018-11-01 14:08:26 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299374118 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299378148 2018-11-01 14:15:14 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299378148 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299387315 2018-11-01 14:30:50 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/299387315 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300232623 2018-11-04 19:30:10 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300232623 Perceptual competitor map jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300236244 2018-11-04 19:52:15 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300236244 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300746676 2018-11-05 21:35:18 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300746676 KSF's of Cornerstone jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300750883 -Strong crowdfunding backing of £1M grants large entry capital as one of the first shave subscription entrants into UK market

-Led by a powerful marketing campaign focusing on the high quality appeal of product, <-- conveys professionalism, and legitimacy 

-ease of use of service with hassle free cancellation most rival brands do not provide <-- strengthens brand image and consumer trust

-appealing promotional price offers for new customers <-- successfully stimulates interest through penetration pricing]]> 2018-11-05 21:47:27 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300750883 Competitors jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300754619 2018-11-05 21:59:14 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300754619 The Subscription Market jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300755199 2018-11-05 22:01:21 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300755199 Cornerstone at a glance... jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300755800 2018-11-05 22:03:21 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/300755800 Customers jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302264461 A survey of over 5,000 American Consumers found that subscription e-commerce consumers typically:
  • Range from ages 25-44
  • Have an income of £50,000-£10,000
  • Live in urban areas
  • Value the personalisation, convenience and quality offered above the recurring cost 
]]> 2018-11-08 18:56:49 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302264461 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302270851 2018-11-08 19:05:13 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302270851 Shaving market reaching saturation jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302325662
Due to high number of entrants and the growing attraction of 'shave clubs', the market is on the verge of reaching maturity. 

As a result of this, Cornerstone has adapted through product development with shower, facial and oral care products with their most recently released multi vitamin range that can be added on to the monthly shave package as an up-sell. ]]> 2018-11-08 20:43:55 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302325662 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302331474 2018-11-08 20:58:35 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302331474 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302331547 2018-11-08 20:58:48 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302331547 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302331621 2018-11-08 20:58:58 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/302331621 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303030028 -Dollar Shave club: (Owned by Unilever)
Strengths:
  1. Cater to women as well, granting a competitive advantage through market development
  2. Owned by Unilever, granting powerful brand status & highly funded marketing campaigns
Weaknesses:
  1. Badly reviewed,
  2. Poorly made products that do not compete with high quality yet similarly-priced rival razor

-Harry’s:
Strengths:
  1. High quality well-perceived brand with a massive consumer base
  2. Strong social media presence 
  3. Highest market shave in the 'shave club' industry
Weaknesses:
  1. Solely operates in the US
  2. Has not shown plans for an extension strategy in case of market saturation
]]> 2018-11-11 19:20:17 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303030028 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303031675 -Bic Shave club:
Strengths:
  1. Have a well presented and clean marketing campaign
  2. Have a large capital due to Bic's success as a company, grants competitive advantage against smaller competitors
Weaknesses
  1.  Known for affordability and lower quality in high income market segment
  2. Difficult to cancel service (causes consumer distrust)

-Bearded colonel:
Weaknesses
  1.  Lack engagement with customers and social media
  2. Difficult to cancel 
  3. Low quality materials 
]]> 2018-11-11 19:30:48 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303031675 Competitor analysis jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303032328 2018-11-11 19:34:56 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303032328 Weaknesses: jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303032990 -Currently based in the UK with a much smaller consumer base than US counterparts, with a high barrier to entry due to US market leader, Harry's

-Outsource manufacturing and Research and Development meaning Cornerstone has a much narrower span of control, this could potentially lead or have led to problems regarding relationships with outsourced functions]]> 2018-11-11 19:39:32 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303032990 Strengths: jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303039500 -Well structured business model, can be attributed to more than just grooming products (as seen with their new toothbrush and vitamin range)

-Strong social media presence, using a social media manager to engage with consumer base

-Used the same german engineers and manufacturing as US market leader Harry's, has since changed but still maintained high quality 

-Currently have a positive brand image, offering hassle free cancelation, speedy delivery and open communication on facebook's direct messaging platform

-Clever marketing strategies to increase number of leads, using refer-a-friend systems, limited time deals and custom engravings for potential gifting

]]> 2018-11-11 20:21:15 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303039500 Opportunities jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303041468
-Growing appeal of the Subscription/ e-commerce market, creates opportunity for life cycle extension strategies (e.g: product/market development)

-Low amount of grooming subscription services are offered to women, whereas female consumers make up the majority of e-commerce sales, offers chance to target female grooming market segment.

-Currently solely based in the UK whereas a large portion of the 'shave club' market is based in the US. Would however have to compete with Harry's]]> 2018-11-11 20:34:12 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303041468 Threats: jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303046326
-Saturation of the 'shave club' market is imminent following fierce competitive pricing, meaning Cornerstone's costs could soon outweigh their profits

-Large companies such as Unilever, P&G and Dorco, who have access to much greater resources (e.g: capital, marketing teams, labour), have been watching Cornerstone's success carefully according to CEO

]]> 2018-11-11 21:06:32 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303046326 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303048303 2018-11-11 21:19:38 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303048303 SWOT Analysis of Cornerstone jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303049787 2018-11-11 21:29:38 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303049787 jean_luc_hornsby_2017 https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303184717 5 forces/resource based view]]> 2018-11-12 10:52:36 UTC https://padlet.com/jean_luc_hornsby_2017/901da90ens30/wish/303184717