THE YES: Reimagining the Future of E-Commerce with Artificial Intelligence
1) Considering similarities and differences, how would you further optimize the app to better appeal to Fashionistas? To Fashion Followers? Is it possible and/or desirable to try to satisfy both? If yes, how? If no, which segment would you prioritize? What would the brand positioning statement look like under your recommendation?(20 points)
2) Should Bornstein and Aggarwal invest in improving the algorithm’s performance before pouring money into paid media? Why or why not? (10 points)
3) What are the benefits† and risks† of each of the following monetization strategies? Which one(s) should Bornstein and Aggarwal pursue? Why? (20 points)
† Mentioning the one most important benefit and the one most important risk is sufficient here. Do not list more than two benefits or risks for any one strategy. A table format might be helpful here.
•Advertising on the app
•Brands partner-supported loyalty program
•Influencer program
•Influencer program
•White label platform for brands
•Lead generation for brands
Please adhere to the following format:
Length: Not to exceed 3 pages, double-spaced. Content that goes over the page limit will not be considered.
Margins/Font/Spacing: 1” margins, 12 pt. font, Times New Roman, double-spaced.
A cover page won’t count toward the page limit.
Good Luck!
THE YES: Reimagining the Future of E-Commerce with Artificial Intelligence
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Optimizing the App for Fashionistas and Fashion Followers
THE YES's success in fashion and e-commerce depends on its ability to tailor its app to Fashionistas and Fashion Followers. To provide a customized and satisfying user experience, Bornstein and Aggarwal must carefully negotiate these two divisions. Fashionistas, known for their flair and avant-garde trends, want an exclusive app experience. THE YES should use enhanced personalization to reach this niche. The app should learn Fashionistas' choices and curate collections accordingly. Personalized lookbooks and exclusive collaborations with high-end designers might boost the app's appeal among this sophisticated audience. THE YES should simplify the app's user interface and make budget-friendly recommendations for this sector. The app can become Fashion Followers' go-to fashion destination by providing instructional content on the newest trends and budget-friendly alternatives (Avery et al., 2023).
Despite their differences, these segments share preferences. By recognizing these overlapping aspects, THE YES can customize features to switch between Fashionista and Fashion Follower experiences. THE YES promotes diversity and inclusion by adapting to user choices, giving users with different tastes a sense of belonging (Avery et al., 2023). The success of an organization relies on its ability to develop
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