In preparation for the final project during the next weeks and based on the assignment of
week-2
(will be attached). The topic is about a product for the company of
Zara.
Course book :
Global Marketing ISBN-10: 0765642956 ISBN-13: 978-0765642950 Global Marketing, 4th Ed., 2015. Gillespie, K. & Hennessey, H.D. South-Western College Pub
In preparation for your final project, the following is to be submitted this week:
1.
Mission Statement
In week 3, you will analyze the organizational mission statement for the company for which you are writing a marketing plan. Explain how your new product idea aligns with the company’s mission statement.
2.
SWOT Analysis
In week 3, you will develop the SWOT analysis for your company. The SWOT analysis includes the standard four-quadrant chart, with bulleted items for each of strengths, weaknesses, opportunities, and threats, and written support in narrative form.
3.
Organizational Objectives & Strategy
In week 3, you will address the organizational objectives and the target market plan for your company. You need to develop at least five marketing objectives as part of your planning process. These answer the question, “What do you plan to accomplish?” Objectives should be realistic, measurable, and time specific. Objectives must also be consistent, and indicate the priorities of the organization.
By the virtue of this report, I have selected the organization Zara who is a well-known brand in the industry. However, they are facing stagnant growth from past few years. In order to pump the sales and contribute to overall bottom-line they have come up with an Innovative Service Offering. By the virtue of this service offering, consumer can rent designer clothes for her/his important events like Prom Night, Convocation, Placement Series etc. and after the event they can return back the dress/outfit. This help them rent a new look for every event keeping them updated with the fashion trend in the market with minimum expenditure as well as investment. Annually, there are numerous events, cultural meet-ups, social bonding activities that are conducted in various colleges, educational institutes, professional organizations and universities conduct. Earlier these events were started for normal get-together, however now they are considered as important networking initiatives. As they when you look good, you feel good impaling dressing rights forms a crucial part for the success of any networking activities. This is because how when prepare oneself constitute a major segment of non-verbal communication. Therefore, what one decides to wear in these social networking events hold lot of significance in harnessing social prospects. It also decides how one aspires to look. Clothes are definitely one of the important constituent in these special events where you can make a statement. However, reality is not everyone has the resources to purchase all the new clothes or complete have new look as per the trend since it becomes a very expensive affair. In a city like Texas or Ohio, where there are scarcity of proper outlets that can constitute of upcoming style that is trendy yet affordable. Since my target audience are students and entry level professionals, who have a strong desire to wear fashionable, trendy and designer outfits yet have limited resources to plunge in the process. Furthermore, there is lack of proper means to commute to one place to another for shopping especially for students. After extensive analysis, I have come up with an innovative service offerings of renting designer clothes. Like Uber had dominated the market with renting of cars, similarly, Airbnb had monopolized the market with renting of apartments. I want to dominate the fashion industry with rental designer dress with a convince and affordability. Renting is new way to make a high value and high margin business. New Style-New Robe is a fashion rental company to cater to college-goers, professionals who have just joined corporates, adults who want to wear a designer clothes for every networking event yet want to value for money. This service offering is designed to acknowledge and tap this unmet desire. New Style-New Robe is fueled by a transformative business model, coupled with Technology and infrastructure. We have a plan to make fashion more available and accessible for people like high quality clothes and accessories. Thus, by the virtue of this service offering I am trying to change the essence of ownership — and in process revolutionizing retail. References Scarborough, N. and Cornwall, J., 2016. Essentials Of Entrepreneurship And Small Business Management. 8th ed. Harlow: Pearson Education Limited. De Cleyn, S. and Braet, J., 2007. The Due Diligence Process— Guiding Principles for Early Stage Innovative Products and Venture Capital Investments. The Journal of Private Equity, 10(3), pp.43-51.