Week IV Essay

thesmartessays

Week IV Essay
Format MLA
Volume of 2 pages (550 words)
Assignment type : Essay
Description
Marketing Plan: Part 2. This part must provide: a segmentation and target market analysis, include a competitive industry analysis, and provide a SWOT analysis. It has to be 3 pages in length not including the title page and reference page.
Woman on the Go Boutique
A Woman on the Go Boutique is a startup specialty company that is intended for women that are in need of assistance with a quick go- to for their work clothing. This company will assist the customer in creating a workable wardrobe, whereas the customer can have a closet of multiple outfits created from a few pieces. This company will appeal to women that are too busy to go to the mall to shop or wait for a package to be delivered through the mail. This boutique will demonstrate how four pieces of clothing can be utilize to create multiple pieces that can be worn within the course of a weeks’ time at an inexpensive cost to the consumer . This not only saves the customer money, but it allows the customer to utilizing these four pieces numerous times by pairing them with different pieces in their collection without feeling they are wearing the same thing repeatedly.
A Woman on the Go was launched in September 2017 and is located in the Mid-city area of Baton Rouge, Louisiana which was made accessible to everyone. This boutique serves women of all sizes. A Woman on the Go is a fairly new upcoming boutique for women that are in the business world, such as CEO’s, directors, and traveling managers. The boutique carries everything that is needed to dress up the 4 pieces to look professional in the workplace/business meetings from earrings, jewelry, and purses. We also have partnered with other boutiques that are in four different major states such as: Texas, Ohio, California, and Florida. The boutique also offers a 15% discounts to every business woman that shop with our company.
A Woman on the Go was created by Temarya Meeks, who is not only the owner but a customer who found herself looking for an easier shopping option. As a busy woman Mrs. Meeks did not have time for traditional department store shopping and looked for a better option, when none were found she created her own. Mrs. Meeks has bachelors in Business Management and has been a spokesperson for working women. Mrs. Meeks brings her expertise in fashion, in which she has over 15 years’ experience teaching women how to dress with only a few pieces to choose from. The company plans to expand with two-three more boutiques in the surrounding cities of Baton Rouge within the next five years.
To determine the market for this business, A Woman on the Go Boutique had to consider all clothing stores for women from the low cost stores such as Walmart to the high end stores such as Saks 5th Avenue. The company’s owner and administration did extensive research to not only look at the prices but also the quality of the clothing offered by their competitors and the overall delivery methods in which the clothing was made available to their customers. The most important lesson A Woman on the Go Boutique took away from their research was that many of the stores offered limited sizes and colors and many of the items were overpriced. “Also research showed that customers who purchased items online were waiting weeks for the items to arrive or other customers who were afraid of online shopping decided against the items they were interested in” (Joshi, 2017 pg. 30). From the research obtained, A Woman on the Go Boutique decided to introduce customers to purchasing only a few pieces at reasonable prices and showing their customers ways to combine the minimal pieces and make multiple outfits.
Before A Woman on the Go Boutique was fully introduced to the retail market there was an extensive PEST analysis done to examine the internal and external factors that can affect the outcome of the business. “Beginning with the political aspects, A Woman on the Go Boutique had to consider state and local taxes, government leadership changes, and requirements concerning labor laws and employee requirements” (Thompson, & Mclarney, 2017 pg. 40). After considering the political factors A Woman on the Go Boutique had to look at economic factors that could affect the business. “Looking at interest rates, A Woman on the Go Boutique had to consider those rates to determine how much their supplies will be when purchasing the new clothes to fill the boutique” (WEINBERGER, ZAVISCA, & SILVA, 2017). Not only do interest rates affect how supplies will be purchased but also how much income the business can predict it will bring in. “Of all the factors in the PEST analysis, the social aspects are the most important. A Woman on the Go Boutique is a business that is based on social aspects that affect how consumers shop or look for items” (KADŁUBEK, 2016 pg. 25). Making sure A Woman on the Go Boutique has the latest fashions and clothing options that appeal to all age groups and sizes to fit the needs of women of all shapes and sizes. And finally technology is a factor to consider for A Woman on the Go Boutique and any other new business because technology is taking over not only the retail market but the way in which many customers shop today. “Looking at methods of advertising the products to manufacturing and delivery, technological changes must be considered and addressed for any business to succeed today” (Kotler, & Keller, 2016).
In conclusion, A Woman on the Go Boutique is an overall good idea to bring top fashion clothing to women in the Baton Rouge and surrounding areas. It is important for A Woman on the Go Boutique to consider those factors that could affect the business both in a positive light and a negative light. Government changes and regulations can affect how well a business does as well as technology advancements and social norms. A Woman on the Go Boutique is a boutique like no other that will not limit their reach to one group of women but offer something to fit the needs of all women and show them ways in which to enhance their wardrobe at an affordable price.

References:

Joshi, M. S. (2017). A Study of Online Buying Behavior among Adults in Pune City. SIES Journal Of Management, 13(1), 29-37.
KADŁUBEK, M. (2016). The Analysis of the Impact of Macro-environmental Factors on Management of Logistics Service Provided by the Selected Company. Valahian Journal Of Economic Studies, 7(3), 23-30.
Kotler, P., & Keller, K. L. (2016). Marketing management [VitalSource Bookshelf version] (15th ed.). Upper Saddle River, NJ: Pearson. Retrieved from https://online.vitalsource.com/#/books/9781323591512
Thompson, J., & Mclarney, C. (2017). What Effects will the Strategy Changes Undertaken by Next Plc Have on themselves and their Competition in the UK Clothing Retail Market?. Journal Of Commerce & Management Thought, 8(2), 234-264. doi:10.5958/0976-478X.2017.00013.1
WEINBERGER, M. F., ZAVISCA, J. R., & SILVA, J. M. (2017). Consuming for an Imagined Future: Middle-Class Consumer Lifestyle and Exploratory Experiences in the Transition to Adulthood. Journal Of Consumer Research, 44(2), 332-360. doi:10.1093/jcr/ucx045

[wpadm-chat]

Sample Feedback from students

Sample Profiles for Our top Experts