Business Description Definition Of The Market Description Business Plan

Business Description Definition of the Market

Description of the Products

Organization and Management Descriptions

Marketing Strategies

Financial Management

This paper presents business plan for a new leather garment manufacturing and retailing business. The business is being set up with an initial capital outlay of $53 million. The paper starts with a brief description of the business; its target market and product offerings, and then proceeds by proposing organizational and management strategies, marketing strategies, and financial management strategies.

According to the proposed business plan, the company will have a centralized organizational structure and will primarily focus on developing its brand image in the market. The marketing strategies on different mediums will be designed in order to attract potential customers. The company will also take the services of business development firms and distribution companies for its operations. The major expenditures which the company will have to incur in the initial phase include; purchase of heavy raw material stock, processing and manufacturing plant, marketing, distribution, salaries and administrative, e-commerce setup, and legal requirements.

1. Business Description: Leather Garments Manufacturing and Retailing

The proposed business will be set up in California, United States and will serve the high and upper middle income groups of the society. The business will be established with a leather garment manufacturing and processing unit and a number of retail outlets in the most potential areas in the city. The projected initial capital outlay for this business is $53 million. The new company will employ more than 200 people at its manufacturing and production units and 50-75 persons at its retail outlets. The company will offer sports, formal, casual, and occasional leather garments.

2. Definition of the Market

The proposed business will mainly target the male consumers with its top quality and trendy leather garments. The retail outlets will be opened in the most populous areas of the city and will direct compete with the major local and international...

...

The age group of target consumers will range between 20-45 years. In addition to the main product lines, the company will also target kids and teens with a limited range of leather products.
Since the costs of manufacturing and processing are higher for leather garments as compared to other clothing products, the prices of these products will be significantly higher. The company will also expend a huge amount on the quality management and marketing campaigns for its products. Therefore, it will charge a high price for its leather garment products -- presenting itself as a premium brand made for the upper middle and high income male consumers only. Moreover, the target market will constitute trendy and fashion conscious consumers only. In the United States, the new business will face direct competition from Diesel, Giorgio Armani, Gucci, Ralph Lauren, Harley Davidson, Calvin Klein, Burberry Group, SARAR, True Religion, Abercrombie & Fitch, etc.

3. Description of the Products

The major products of the company will include casual and biker leather jackets, leather coats, shoes, wallets, bags, and gloves. The company will purchase the top quality leather and other material to manufacture the highest quality of leather products for its consumers. The top quality leather will be imported from Australia and processed at the company's own processing plants. In order to build a strong brand image, the company will have to maintain the quality standards as well as meet the expectations of its target consumers by manufacturing durable, comfortable, and trendy leather garments.

4. Organization and Management Descriptions

Organizational Structure and Operations:

Being a private limited company, the majority of the stocks will be possessed by the owners and their relatives. They will enjoy complete control and decisional powers for all types of corporate, business, and functional level operations. The company will have a centralized organizational structure in which all the retail outlets, offices, and business units will directly report at the Headquarters. Each operational segment will operate under the…

Sources Used in Documents:

References

Blythe, J., & Megicks, P. (2010). Marketing Planning: Strategy, Environment and Context, 3rd Edition. U.K: Prentice Hall.

Kotler, P. (2010). Principles of Marketing: A South Asian Perspective, 13th Edition. India: Pearson Education.

Kurtz, D.L., MacKenzie, H.F., & Snow, K. (2010). Contemporary Marketing, 2nd Edition. Toronto: Nelson Education.


Cite this Document:

"Business Description Definition Of The Market Description" (2013, September 28) Retrieved April 18, 2024, from
https://www.paperdue.com/essay/business-description-definition-of-the-market-123243

"Business Description Definition Of The Market Description" 28 September 2013. Web.18 April. 2024. <
https://www.paperdue.com/essay/business-description-definition-of-the-market-123243>

"Business Description Definition Of The Market Description", 28 September 2013, Accessed.18 April. 2024,
https://www.paperdue.com/essay/business-description-definition-of-the-market-123243

Related Documents

Business Plan -- Rocky Mountain Sports Fishing, LLC Business Description Definition of the Market Services Offered Organization/Management Marketing Strategy Financial Management Recreational fishing is a multi-billion dollar industry in the United States, both for salt and freshwater. Conservative estimates show that there are upwards of 30 million individuals with more than a 1-2 time/annum interest in the sport. This has an overall impact on the economy of $125 billion (Williamson, 2012). Consumer demographics show that it is

Business Plan for a Market
PAGES 6 WORDS 1665

This can be defined at the system level of the consultancy's network architecture. Finally the firewall of the systems will be defined also through the definition of system parameters throughout the network operating system running the entire firm (Malecki, 2012). There will be little resistance to change for each of these implementations as they are designed to protect and streamline the work being completed in the firm. There will

Market Orientation of Medical Diagnostic Units Dissertation for Master of Health Administration i. Introduction ii. Objectives iii. Description iv Administrative Internship v. Scope and Approach vi. Growth vii. Methodology viii. Hypothesis ix. Survey Questionnaire x. Research Design xi. Observation and Data Presentation xii. Test provided xiii. Analysis of findings Marketability of Patient Satisfaction Importance of Employee Satisfaction xiv. Conclusions and Recommendations xv. Bibliography xvi. Notes xvii. Appendices Market Orientation of Medical Diagnostic Units

Uses of visualization in business analytics include market segmentation analysis and factor analysis to define new audience segments based on psychographics. Visualization is often also used for pricing analysis to determine how elasticity can vary by product and area being sold into. 6. What are the steps involved in effective decision making and how can business intelligence assist in helping executive and managers make better strategic and operational decisions? Effective decision

The market analysis is provided in Table 2. Table 2: Market Analysis 2012 2013 2014 2015 2016 Potential Customers Growth CAGR Home Office 2% 22,000 22,440 22,889 23,347 23,814 2.00% Small Office 5% 15,000 15,750 16,538 17,365 18,233 5.00% Professionals 8% 10,000 10,800 11,664 12,597 13,605 8.00% Academic 0% 12,000 12,000 12,000 12,000 12,000 0.00% Other 0% 10,000 10,000 10,000 10,000 10,000 0.00% Total 15.00% 69,000 70,990 73,091 75,309 77,652 15.00% The company will also use different market strategy to achieve its business goals. Ivy Discover will run a very attractive advertising banner on different websites, which are constantly being visited by target customers, and the business will use several different form of promotion to attract potential customers. The promotion strategy will include discounted package deal. The

Business Plan GBSGreen Building Solutions Company Description Product & Service Description Marketing Strategy & Plan Environmental Analysis (SWOT/PEST) Competitive Analysis Products and Services Pricing Promotion People Financial Analysis & Projections Profit and Loss Risks and Assumptions GBSGreen Building Solutions Business Plan According to the Environmental Protection Agency (EPA) the impact of commercial buildings on the physical and social environment are such that there is "not questioning the vast impact…" (Environmental Protection Agency, 2006) Commercial Buildings are reported by the U.S. Department of Energy's Energy Information Administration