EXECUTIVE SUMMARY

CREAFORM CORPORATION is a fabric firm that is emerging to enter in the industry to provide the customers high quality clothes in minimum price, specially targeted to the women of different age groups by providing them in the small, medium and large sizes. It established the boutique named IDEAS fabric store to sell directly to the customers. The boutique will sell these clothes to the customer online by providing with innovative and new service of the 3d campic App. This App is newly introduced by the creaform entrepreneur named Sarmad. He is also the founder of this company. The purpose of this App is to resolve the issue that mostly customers faced while purchasing the clothes online. With the help of this App the customer’s specially targeted women can buy garments online.

This company is founded by four partners. The first founder is Mr. Sarmad who has 40% shares in the company while other partners have 20%. The basic objective to select this industry to enter is that because the fashion industry rapidly increases from time to time and women specially adopt the very first fashion that enters into the market place. According to the financial returns, the revenue of the clothing industry expands fairly rapidly. This is how creaform’s founder decides to start with the clothing firm.

Creaform Corporation will consider the major competitor with respect to the garments it produces because of the unique printed designs, quality, pricing and with its core competence of the 3d campic App. It starts with a huge amount of finance, getting from commercial banks and friends and its relatives. It has also strong relationship with the suppliers and key partners in order to complete the garment from raw material to finished form. The information about economies of the business is included in the business plan by how the company sets the fixed and variable cost to reach at the break-even point. The complete analysis is described in much more detail. Payroll, debt services and legal obligations are also discussed.

The costing of cotton, silk and linen clothes is the main focus of the company. It will choose to enter the market with the standard price that everyone can afford. Premium quality, standard pricing strategy and technical service strategy can lead the company at the top. The clothes will have to be prepared by taking their responses; these will be design and produce according to their demographic, psychographic and shopping behaviors.

Sales can be increased by advertised it through such medium that the audience mostly watch. Such as on television, radio, through e-mails, company websites and magazines. It will sell the garments of its own through ideas fabric store; it also placed the product at different distribution channels from where customer can easily assess it.

Company will take the help of outsider board of director and board of adviser to which will oversee the firms activities and will provide suggestion regarding to the revenue generation. It will be hopeful to say that the company will be consider beneficial for its customers as well as in the industry.

COMPANY DESCRIPTION:

CREAFORM COPRPORATION discovers the idea of 3D Campic App when researchers visited at shopping malls. They noticed that the customers faced the difficulty to put on the clothes to check the length, size, shape and fitting of their dresses. There are lot of customers who don’t have time to go shopping malls and buy clothes especially those are busy in their office work. With the lot of struggle the company finally launched the app which facilitates the customers even at home. So, they can purchase their clothes online with the help of 3D portray. Idea’s readymade garment store provide the facility to their customers that they can select their dresses from company’s website or online. The customers drop his picture on company website. By using the 3D campic app the Idea’s garment store convert it into 3D portrays. This app shows picture in which customer wear dress which he was selected. Picture will show 360 degree picture, left, right, front, and back in 3D. This app will show the picture to the customer in just 3 seconds.

PRODUCT AND SERVICES:We are first mover in the market so our product is unique because no such product is existing in the market. So, there is no rival in the market place which competes to us. We offer our customers for three free trials of 3D portray other than they will have to pay the charges. This service is very feasible because the customer won’t need to go outside to shop they can buy from anywhere.

LEGAL STATUS AND OWNERSHIP:Mr. Sarmad is the founder of Creaform Corporation. There are basically four partners who invested in the business. The company’s founder has 40% shares while other three partners have 20% shares in the business.

MISSION STATEMENT:

IDEA’s readymade garments provide to our customers with quality products and services at competitive prices to be friendly, honest, courteous and fair in our dealings with others to deliver on our promises and demonstrate commitment and diligence. We offer a unique and intimate shopping atmosphere and look forward to meeting your fashion needs.

IDEA’s readymade garments attract customers by following ways:

Attract people with fashion Attract people with the service of 3D campic app Attract people with decent prices Become a well known store Have the best customer service

INDUSTRY ANALYSIS:

There are a lot of firms that exist in a garment industry. Many products manufactured in different firms such as, women clothing firms, men clothing firms, children clothing firms, sports garments, jeans, jackets, sweater, cotton and wool industries etc. Different firms provide online services to customers. Once products are bought by customers through online so, customers faced many difficulties because boutiques refused to change or replace products. Sometimes the dress sizes, colors, and design do not match with that product’s color and design which we are selected. Our company not only provides online services. We also provide 3D portray service to them online. We facilitate them that they can change and replace their readymade garments within a specified period of time (one week). If some defects disclose in garments then the company provide facility of reparability.

Global Clothing & Textile Industry:

The world clothing and textile industry - encompassing clothing, textiles, and footwear and luxury goods - reached almost $2,560 trillion in 2010, according to Market Line. The apparel, luxury goods and accessories portion of the market, which accounts for over 55% of the overall market, is expected to generate $3,180 billion in 2015, with a yearly growth rate in excess of 4%.

INDUSTRY SIZE AND TARGET MARKET:

Creaform Corporation offers different range of women garments. Creaform Corporation manufactures such products which are according to women needs and satisfy them. We targeted to different age groups of women by providing all sizes of clothes small, medium, and large. We offer online services at niche level. We targeted to those areas in which customers have affordability to buy them e.g. large shopping malls of the cities. We offer such conditions in which all the participants become innovative. So, they can move quickly to react to environmental change. One of the key factors is that all participants must be competent in to

compete.

ENVIRONMENTAL TREND:

ECONOMIC TRENDS

If the economy is strong then customers spends more on garments. If the economy will weak IDEA’S provide discounts to customers so, they can save money.

SOCIAL TRENDS

Fashion industry emerges from time to time. Everyone wants to adapt the fashion. So IDEA’S will offer more than the satisfaction.

TECHNOLOGICAL TRENDS

IDEA’S will interact with customers online directly. So, they won’t need to go in the shops. They would also check the shape and size of dresses through 3D campic app at home.

POLITICAL & REGULATORY CHANGES

IDEA’S readymade garment store will be liable to follow all political regulatory changes.

MARKET ANALYSIS:

MARKET SEGMENTATION:

Fashion can be an expression of individuality or association, and different groups of people respond in different ways to different styles. A well defined target market or IDEA’S readymade garments identifies customers based on demographics like age and income, geographic considerations based on climates and regional styles and psychographic characteristics such as social affiliations.

TARGET MARGET:

Ideas target market is women. In IDEA’S Garment store all dresses are available for women. This garment store provides good services to our women. IDEA’S garment store also provide to women campic app facility even when they stay at home, use this app easily. This garment store is introduced in the posh area of Lahore. People can come at this boutique including high or middle class and buy their garments. Our boutique gives facility to our women to buy dresses online through campic app.

ADVERTISING AND PROMOTIONS:

Advertising campaign effectiveness is not determined solely by the size of advertising budgets. IDEA’S garment cost efficient and innovative advertising tactics are to be used to the sale of product. Our garment store lay out a plan for placing advertisements in media that appeal to the target customers. IDEA’S garment also place advertisement to aware customers about boutique and service of campic app. Normal price is be used of dresses in our boutique because higher prices can damage the reputation of our boutique.

MARKETING AND PRODUCT OBJECTIVES:

The marketing and product objectives of our garments are the following:

IDEA’S garments develop product and brand awareness of their dresses and facility of campic app to customers.

IDEA’S garment want to capture enough share of market to be recognized as a competitor among the future competitors of others boutiques.

COMPETETOR ANALYSIS:

The main competitors for the new business are the existing department stores and the other boutiques.

In other boutiques, clothing prices may not necessarily match with the quality of products as the brand place premium on the prices. But in our garment store, garments are provided that are high in quality.

Services provided by other stores are very generic and not customized to their market. But IDEA’S garment store provides good services to customers and also provides facility of campic app to buy products online.

BUYERS BEHAVIOR:

Consumer behavior refers to buyers who are purchasing for personal, family or group use. IDEAS’S garment tries to understand the behavior of buyers by providing facilities and good services. Our garment store also provides the positive environment to customers.

SALES AND CUSTOMER SERVICES:

IDEA’S readymade garment attracts customers by providing good facilities to customers. Employees of the boutique will interact customers before, during, and after sales. In our boutique one or two employees in the store to personally assist customers in finding the perfect clothing item. On the other hand through campic app employees guide the customers to find what they want, guiding the customers of using the campic app.

FINANCING OR FUNDING:

The risk associated with start up remains, more than 50% of all startups fail within a starting few years.

IDEA’S readymade garment business plan will be used for three purposes;

To map out all the necessary components to create a successful and well run Boutique.

To provide management with a blueprint to follow. To secure financing through investors.

SOURCES OF EQUITY FINANCING

CAPITAL INVESTMENT:

IDEA’S readymade garments start up capital is $10,000. This boutique will be initial start from $10,000 by its own sources. Because the three partners of the boutique invest equally in the business.

SOURCES OF EQUITY FINANCING:

SOURCE OF PERSONAL FINANCING:

The founder of the garment uses personal fund by investing both financial and sweat equity. The founder put effort and time on the new business. Founder has own so much capital to invest in the garment store but he also need fund to start his business.

SOURCES OF FRIENDS AND FAMILY MEMBERS:

After invest from own sources founders look at their family members because this capital is not sufficient for the business which are invested by the founders. Owners look their family members and friends who is interesting to invest in the business.

LOAN FROM COMMERCIAL BANK:

IDEA’S garment store also take loan from commercial bank to invest in the business because needs to make the garment cannot fulfilled from these sources. IDEA’S garment boutique wants more capital. So they will contact and request from commercial banks to provide loan according to the requirement.

THE FIVE FORCES MODEL:With respect to the 3d campic app and fabric:

THREAT OF SUBSTITUTE:

In general, industries are more attractive when the threat of substitutes is low. There is no substitute of 3D campic App. Other businesses just provide online buying services but still customers are not satisfied too much unless they purchase fabrics by wearing it. IDEAS FABRIC STORE is not just providing online buying facility to customers but through 3D Campic App customers can get the 3d portray of their dresses by staying at their home.

THREAT OF NEW ENTRANCE:

In general, industries are more attractive when the threat of entry is low. CREAFORM CORPORATION is newly attractive firm. Because of new and innovative service which it offers and expansion in textile industry there are no strict barriers to enter for new firms. Product differentiation is one of the sources to enter in the industry. 3D Campic App differentiate itself in terms of online 3d portray service. Its purpose not only gains the customer satisfaction but also creating the more comfort and convenience in their life. To achieve this goal the company would have to invest large amount of capital in the business.

RIVALRY AMONG EXISTING FIRMS:

If there are more rivals in the industry so it would be difficult to gain more customers’ attraction. Price-cutting is one of the aspects to be successful. CREAFORM COMPANY gain the advantage to customers to get 3 free 3d portray plus discounting offers to their regular customers.

It should cover the high fixed cost by selling products in huge volume to reach at break-even point. Once it met this level, the product price will automatically decrease which increase its profit.

BARGAINING POWER OF SUPPLIERS:

The bargaining power of the suppliers should be low to increase the product’s quality and profitability. The company should not switch to cost by replacing supplier. E.g. if IDEAS replaces its suppliers which provide the raw material of fabric in bulk then it will have to bear the high cost which may be erodes its profit. There should be no threat of forward integration . IDEAS will sell itself to customer. It will become its own distributor.

BARGAINING POWER OF BUYERS:

The bargaining power should be low of the firm. Customers demand products that are high in quality and less in price. IDEAS targeted not only upper class customers but also concentrated on middle level customers by providing fabrics in different ranges. Its main purpose is to sell its products to many customers as well as possible. If there are only few consumers and they buy from large numbers of suppliers, they can pressure the suppliers to lower costs which will effect on the profitability on the firm. The company will strong in backward integration, it is capable to manufacture its fabric by own then there will be no threat of buyer entry in the firm.

EMERGING INDUSTRY:

IDEAS online fabric store is an emerging industry in which standard operating procedures have yet to be developed. It is a first mover which is creating a significant position in a new market.

FUTURE COMPETITORS:

The company has no direct and indirect competitors in the market place. So, it may be possible that future rival will compete it. The company must prepare to their opponents.

THE ECONOMIES OF THE BUSINESS:

FIXED AND VARIABLE COSTS:

Fixed costs are those that do not change as production volume changes. For example, the rent that our company will pay on its factory building will be the same. No matter how many clothes are produced. Rent, therefore represent a fixed cost. Other common fixed cost are building, machinery, sewing machines, sergers, fabric cutters, electricity rates for offices, internet services for its offices, taxes, patent applications etc.

The variable costs associated with a product are those that change with the number of products made like wages, materials, utilities like power, water and so on. The more products made, the greater these costs will be, because these costs “vary.” Variable costs are typically technology, labor and material. So variable costs for clothing company would be thread and cloth.

PAYROLL:

Some employees, especially sales representatives, receive commission-based pay. From an employer's perspective, such pay is a variable expense, as it rises and falls with sales volume. However, most employees receive at least some level of fixed payment. Even when employees receive hourly wages, they tend to work the same amount of time every week unless the employer asks them to do otherwise. In this way, payroll for non-commission-based pay is a fixed expense.

DEBT SERVICE:

When businesses have debts in the form of lines of credit or business loans, they must pay to service these debts. The interest that a business must pay on such debts is a recurring fixed cost.

GOURNMENT FEE:

Some areas require all businesses to pay for business licenses, usually on an annual basis. CREAFORM CORPORATION will be encounter to pay for licensing or permits to operate in a particular industry. The business will have to renew their license, periodically, which constitutes a fixed business expense.

START-UP COSTS:

Let’s assume, in our fabric factory, we set the price of a cotton shirt is $5. The total cost of the cloth and thread use to make the cotton shirts is $1500. We pay our workers $2500 and our factory’s utility bills are $2000. If the company produced 2000 shirts in one month then the variable cost of each shirt will be $3=(6000/2000). It’s easy to find the contribution margin of each shirt. We simply subtract the variable cost per shirts ($4) from the price per shirt ($5) to get the $1.  This $1 represents the amount of money from the sale of a single product that the company is able to use to pay fixed costs and generate profit.

 A positive contribution margin is almost always a good thing - the product recoups its own variable costs and contributes (hence "contributing" margin) a certain amount towards the fixed costs. Fixed costs should not increase with the amount of product produced, once they're paid off, the contributing margin from the remaining products sold becomes pure profit.

In our factory, each shirt has a contribution margin of $1.00. If the rent at the factory is $1500 and there aren't any other fixed costs, 1500 shirts need to be sold per month to recoup the fixed costs. After this point, each shirt sold produces $1.00 of profit.

Once we find the contribution margin for a certain product, we can use it to perform a few basic financial analysis tasks. For instance, we can find the contribution margin ratio, a related value, by simply dividing the contribution margin by the price of the product. This represents the portion of each sale that makes up the contribution margin — in other words, the portion that's used for fixed costs and profit.

In our shirt’s example, the contribution margin per shirt is $1.00 and the price was $5. In this case, the contribution margin ratio was 1/5 = 0.2 = 20%. 20% of each sale goes towards paying fixed costs and making profit.

BREAK-EVEN ANALYSIS:

We know the contribution margin of a company's product and the fixed costs of the company, so we can quickly estimate whether the company is profitable or not. Assuming the company isn't selling the product at a loss, all it needs to do to generate a profit is to sell enough products to pay for its fixed costs — the products already pay for their own variable costs. If enough products are sold to cover the fixed costs, the company begins to turn a profit.

For instance, let's say that our fabric company has fixed costs of $2000 (rather than the $1500) given above. If we still sell the same number of shirts, we'll generate $1.00 × 1500 = $1500. This isn't enough to cover the $2000 in fixed costs, so in this situation we're losing money.

Contribution margins can also be used to help make decisions about the way a business is run. This is particularly true if the business isn't making a profit. In this case, we can use your contribution margin to help set new sales goals or alternatively find a way to reduce your fixed or variable costs.

Let's say that we've been tasked with fixing the $500 budget shortfall from the example problem above. In this case, we have several options. Since the contribution margin is $1.00 per shirt, we might try to simply sell 500 more cotton shirts. However, we could also try moving our operations to a building with cheaper rent, lowering our fixed costs. We might even try using more affordable materials to drive down our variable costs.

For instance, if we could shave $0.50 from the manufacture of each shirt, we'd make $1.50 per shirt instead of $1.00, so if we sold the same 1500 shirts, we'd make $2250, turning a profit.

It means if a company sells 1500 cotton shirts in a month at a cost of $5 it can get $7500 in a month by manufacturing and selling it. So it can generate profit by selling 1500 shirts on $1 each shirt. $1500 per month profit. But if it decreases its fixed and variable cost then it can attain $1.50 profit per shirt. It means (1500)($1.50)=$2250

If we estimate the price of each trouser then it could be $4. Variable cost will be $3 so we can get $1 from trouser. The factory will produce 1500 trouser for each shirt. So the complete suit will have

the cost of $9. The company will save $2 from each of the two components (trouser and shirt). This $2 is the profit of the company. By selling 1500 trouser at the rate $4 the company can earn $6000. So the average cost of these 1500 suits at $9 would be $13500.

If the production increase by 2000 cotton shirts and trouser because of the increase in demand so the factory will have to manufacture more outlets to cover the market demands. At this level if its variable cost increase. Then it will increase its price to cover the other expenses. If the company increases it by $1 means now the customers will have to pay $1 more to purchase a suit. $10 price will be enough to cover the other costs. Because now the factory will need to purchase more material like cloth and thread to produce 500 more cotton shirts and trouser and it will also pay more wages to labors to do work for additional hours. Increasing in demand of the product means that the customers like the product in terms of quality and $10 ($6 shirt price and $4 trouser price) is affordable price for a cotton shirt and trouser.

Now we calculate the price of silk and linen shirts. We have to use fine silk to produce high quality silk fabric. The cost of silk thread is relatively high then cotton thread. After covering all the cost like fixed and variable, the estimated cost of each silk shirt would be $8. If the factory produce 2000 silk shirts and the variable cost of each shirt is $7. Then $1 will be the contribution margin of the company. It means the total cost of these 2000 silk shirts at the rate of $8 would be $16000. So the price of each suit will be $8+$4= $12. ($4 trouser price). The customers would have to pay $2 more to purchase a silk shirt and trouser. If we sum the total 2000 trouser prices at $4 and 2000 silk shirt prices at $8 then the total sum would be $24000.

The company can save $2 from each of these two components. As we discussed earlier that by producing 2000 trousers the company saves $1 so by producing more 2000 trousers with silk shirts it can further save $1. So $1 saves from silk shirt and $1 would be save from trouser. So, the aggregate profit is now $4 of each shirt and trousers. The total profit of 4000 trousers and 4000 silk and cotton shirts at the rate of $1 would be $8000. (We assume the cotton shirt’s profit is $1 instead of $1.50).

Now, finally we take the price of linen shirt, if it is $7 and the company produces 2000 linen shirts so it has to produce 2000 more trousers with these shirts. So the complete suit price would be $11=$7+$4. If the variable cost of each linen shirt is $6 then now further company would get $1 additional on each shirt. It means $2000 profit would be generated. After manufacturing 2000 more trousers with linen shirts the company will save $2000 more profit. Finally, the company can get $4000 profit by producing linen shirts and trousers.

The total profit would be $12000.

So, it will be profitable for firm to create a strong position in a market place to fill its gap. Plus it will be beneficial in terms of sales because it provide online services to its customers to buy fabric with the 3D CAMPIC APP.

So, we can conclude that our product will be fit in the market place. Once it formulate it will easily maintain its position.

MARKETING PLAN:

Ideas boutique sells clothes through brick and mortar stores and websites.  Unlike larger department stores and clothing retailers, IDEAS generally serve a narrow target market with niche clothing products, relying on long-term loyalty from their target customers for success. Effective marketing plans for clothing boutiques focus on defining a profitable target customer group and centering all marketing decisions on a single niche.

MARKET SEGMENTATION:

Fashion can be an expression of individuality or association, and different groups of people respond in different ways to different styles. Ideas boutique defines a narrow target market which is the key success of the business. Whether it operates locally or online. A well-defined target market identifies customers based on demographics like age and income, geographic considerations based on climates and regional styles and psychographic characteristics, such as social affiliations. Ideas define the following categories with respect to target market:

Demographics: Professional woman (ages 18-55) Household income over $100,00 College-educated

Psychographics:

Looks for bargains (seasonal fashion) but willing to spend money on quality, core items.

Would like more time or help in understanding what clothing is right for her.

She wants to look her best because she wants to feel good about herself as well as make a good impression at her job.

Clothes Shopping Behaviors:

Spends over $2,500 for clothes each year. Shops at Boutiques. Wears a size 6, 8, or 10.

Buys mostly casual shirt and trousers. Looks for classic, basic items each season, with 1-2 trendy items.

She cares about how she presents herself, enjoys fashion, and looks for quality over quantity.

MARKETING MIX:

Product, placement, promotion and price are the four element of the marketing mix.

Product:

The term "product" is defined as anything, either tangible or intangible, CREAFORM CORPORATION offers both product and service (tangible and intangible), as a solution to the needs and wants of the consumer; something that is profitable or potentially profitable; and a goods or service that meets the requirements of the society.

Product in terms of the dresses which is a consumer good. It offers the durable goods (dresses) and services through the 3D CAMPIC APP.

CREAFORM CORPORATION is the firm which produces the dresses/fabric especially targeted to ladies. Ideas boutique is the online shopping store. It is also a brick and mortar store.

It manufactures the dresses in three product line: cotton, silk and linen. The purpose to manufacture the product into the product line is, customer can wear the three types of dresses in four seasons. It offers the complete range of the season. The dress will consist on two parts. Shirt and a trouser. Company provide its customers the premium quality products as it uses the pure cotton thread to manufacture cotton fabric, pure silk thread to make the silk fabric and fine linen thread to make the linen fabric. The dresses would be available in three sizes, small, medium and large and in all colors. Young ladies, teenagers and old women could easily select the dress which would be best one for them.

If we talk about the product life-cycle then it is on the introduction phase as it is a new venture. It would take much time to reach at the maturity phase.

It offers the service by selling products online through 3D CAMPIC APP. A customer who wants to purchase the product online must go on online ideas boutique, select the dress and put it into cart, then the customer would have to drop full size picture on this page and would also tell his height and age. The boutique will select the best dress size which will fit to her body in terms of shape, length and fitting. The company convert the picture into 3d portrays and sends back to the customer. The customer can check the size, length, shape and fitting. After getting satisfaction he will tell the company that she is willing to purchase that dress. The company will give the chances of 3 times free checks for 3D portray. After it will charge the charges as per dress. It convert the simple picture into 3D portray within 5 seconds.

PRICING:

The price is the amount a customer pays for the product. Adjusting a price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often it will affect the demand and sales as well. Creaform Corporation should set the price that complements the other elements of the marketing mix. A well-chosen price should be such which can increase profit, generate sales, gain marketing share and establish an appropriate image.

From the Creaform’s point of view, $10 would be appropriate price for a cotton suit (shirt and trouser). $11 for linen suit and $12 for a silk suit. If the variable cost of each cotton shirt would $5 and the company sets the price for each cotton shirt $6 then this $1 would be the profit of each shirt. If the variable cost of silk shirt will be $7 and its price is $8 then the company will saves $1 more from the silk shirt. And if the linen shirt variable cost would be $6 and its price will be $7 then it can also saves $1 more from each linen shirt. And if the assume the $3 variable cost of each trouser and its price will be $4 then $1 more saves. These are efficient prices, because these are very close to the customers are prepared to pay.

Pricing strategies:

Cost-based pricing: $10 is the cost-based price for a cotton suit which includes $2 profit. $1 from shirt and $1 from the trouser. From $11 company also gets $2 profit from a linen suit and from $12 it also gets $2 profit from the silk suit.

Customer-based pricing: Creaform Corporation adopts the penetration pricing strategy. It will set the relatively low initial entry price, to attract new customers. The strategy aims to encourage customers to switch to the new product because of the lower price. Penetration pricing is most commonly associated with a marketing objective of increasing market share or sales volume. It will adopt this strategy to support the launch of a new product.

Company also set a cheaper price for using the 3D CAMPIC APP service. It gives the free 3 trial of 3d portray. After that it will charge $2 to get the 3d portray.

Competitor-based pricing: customers attract to those who provides the product at a cheaper price and to those who provides the best service. Company doesn’t adopt the going-rate pricing strategy. But it sets the prices which will be less than its competitor price. E.g. competitor price for a silk suit is $15 but company sells it into $12. So the customers can get the benefit from this rate. If we talk about our service then it is a newly launched service so there is no competitor of a service. By using this service it can get the competitive advantage from its rivals.

Promotion:

Company provides three basic objectives for promotion:

To present product information to targeted consumers and business customers.

To increase demand among the target market. To differentiate a product or service and creating a brand identity.

Creaform Corporation will use advertising, public relations, sales and customer service and sales promotion to achieve this objective.

SALES AND CUSTOMER SERVICE:

The sales and customer service portion of the marketing plan lays out the way in which the store employees will interact with customers before, during and after sales. Ideas boutique will offer brick and mortar boutique as well as online service to their customers. So it will need one or two employees in the store to personally assist customers in finding the perfect clothing item. In an online boutique, on the other hand, it may rely on an intuitive user interface to make it easy for customers to find what they want. It will decide to only sell clothing at the listed prices. It describes the policies that the customer may return or replace the product within one week. Boutique will entitle to deal with customer complaints.

PUBLIC RELATIONS:

Public relations can be overlooked in small boutique marketing strategies, ideas boutique can

increase demand for their brands through public relations activities. Sellers of products needed

by impoverished people around the world, ideas boutiques can donate clothing items to people in

need. Local charitable activities can actually do more for a public relations campaign as people

in the community see firsthand the good things a company does.  It considers donating cloth to

local homeless shelters, halfway houses, retirement homes and similar organizations. By doing

this, it can boost the company’s image.

Sales promotion:

Company will develop a website where customers can register to receive promotional rewards and find out more information about the product and company. Ask customers to give their email address for future promotions. It will offer her customers coupons, free gifts and discounts.

Advertising:

Company can sale its product by advertising it will include following sources:

Magazines/newsletters:Magazines and newsletters are considered to be effective advertising media because they consistently reach the company’s target market. This type of media is quiet, personal vehicle that usually have a long life. Their primary ardencies pass them along to secondary readers, so that their reach builds over long periods of time.

E-mail:Through e-mail the company can interact to their customers. It gives its customers an email address.

Media:Radio and television are other medium to reach the target market. One’s of radio greater strength is its ability to deliver a marketing message to a selective audience. This media is portable, free and very accessible. Nearly 31% of the households watch television. People spend more time on TV than other media. It also provides the visual ability.

Placement:Product distribution is the process of making a product or service accessible for use or consumption by a consumer or a business user.The company will also launch a new outlet shop so; it can sell its own clothes. Ideas boutique wants to create a position in the market. It will also adopt the selective distribution channels to where the product will be selling. It will select the areas where most consumers wear ready-made clothes. They are affordable and value the product so that they can create loyalty with the product. It can also distribute their product where customers want to buy. It should provide the utility. Utility represents the advantage or fulfillment a customer receives from consuming a good or service. It provides utility in terms of 3d campic app service. Where customers can buy products online by using 3d portray.

CREATING A NEW VENTURE TEAM: THE FOUNDER OR FOUNDERS:

There should be more than one founder before launching a new venture. CREAFORM FIRM has one founder/CEO and three co-founders. These co-founders contribute with equal ratio in the business. The equity of CEO is more than the co-founders equity. Founders are one of the biggest reasons you succeed or fail. Over time, they also set the company culture, which impacts whole business and is incredibly hard to change. A founding team helps to storm the castle every day. The job of a founding team is to learn what works and to recognize when or how to change it. Why business should have a venture team?

Solo founders are risky:Creaform Corporation has more than one founder. If it has only one founder so it becomes difficult and risky in terms of access of capital and to grow the technology and business simultaneously. A single founder can find it hard to hit the phones or get out the door to meet with customers while simultaneously building product.

Investors like to see one or two founders.Several factors affect the value of a team that is starting a new firm:

1. First, teams that have worked together before, as opposed to teams that are working together for the first time, have an edge.

2. Second, if the members of the team are heterogeneous, meaning that they are diverse in terms of their abilities and experiences, rather than homogeneous, meaning that their areas of expertise are very similar to one another, they are likely to have different points of view about important issues. These different points of view are likely to generate debate and constructive conflict.

QUALITIES OF THE FOUNDERS:3. One reason the founders are so important is that in the early days of the firm, their knowledge,

skills, and experiences are the most valuable resource the firm has.4. The level of the founder’s education:

CREAFORM CORPORATION has four founders; all of them are qualified and have entrepreneurial abilities such as research skills, foresight, creativity and computer skills. Two co-founders done MBA finance from foreign university, one founder done MSCS and one founder has done MS management sciences. All they have higher education and have business related skills such as math’s, accounts, management information and good communication skills.

5. Prior entrepreneurial experience:Co-founders should have prior experience in any business. Launching a new venture is difficult task so prior experience helps the founders to launch it successfully. CREAFORM CORPORATION’s founders have prior experience as they already worked at some firms. They are professional entrepreneurs.

6. Relevant industry experience:CREAFORM CORPORATION will hire those founders who have experience to successfully launch and grow a firm in which they already worked before. Entrepreneurs with experience in the same industry as their current venture will have a more mature network of industry contacts and will have a better understanding of the subtleties of their respective industries.

7. Networking (the depth of the founder’s professional network):Sometimes, founder hire a friend or to close relative while starting a new business as a potential investors, business partner or customer. But in this case, founder will not hire of his relative, all these co-founders are outsiders and well experienced in their specialties. These co-founders have professional contacts to their clients and suppliers that will be advantageous.

8. Recruiting and Selecting Key Employees:Founders differ in terms of how they approach the task of recruiting and selecting key employees. Founders draw on their network of contacts to identify candidates for key positions, co-founders have contact with employees, and they know them well. So, the company can hire those employees. Employees should be educated, well trained and should have know-how of their relevant jobs.

9. Many founders worry about hiring the wrong person for a key role. Because most new firms are strapped for cash, every team member must make a valuable contribution, so it’s not good enough

to hire someone who is well‐intended but who doesn’t precisely fit the job. 10. Company can hire employees by creating a formal hiring plan.

BOARD OF DIRECTORS:

It is a panel of individuals who are elected by a corporation’s shareholders to oversee the management of the firm. Director can be insider or outsider. Company will hire outsider director who will oversee the firm’s activities. The purpose is that outsider director is more qualified, educated, and experienced then the insider director. They also provide guidance and advice with the objective of filling gaps in the experience and background of the ventures executive and the

other directors. Providing legitimacy is also important function. Well-known and respected board members bring instant credibility to the firm. Following are the responsibilities of the directors:

Appoint the firm’s key managers. Declare dividends. Oversee the affairs of the corporation.

Most boards of directors meet three to four times a year.New ventures are more likely to pay their boards in company stock or ask them to serve on a voluntary basis rather than pay a cash honorarium.

BOARD OF ADVICERS: An advisory board is a panel of experts who are asked by a firm’s managers to provide counsel and

advice on an ongoing basis. Company will hire more than 15 boards of advisors. Unlike a board of directors, an advisory board

possesses no legal responsibility for the firm and gives nonbinding advice. An advisory board will be establish for general purposes or will be set up to address a specific

issue or need. For example, some firms have customer advisory boards that help the firm identify new product and service ideas.

Company will typically pay the members of their board of advisors a small honorarium for their

service, on a per‐meeting basis. A firm should look for board members who are compatible and complement one another in terms

of experience and expertise. When inviting people to serve on its board of advisors, a company should carefully spell out to the

individuals involved the rules in terms of access to confidential information.

Lenders and Investors:

Lenders and investors have a vested interest in the companies they finance, often causing them to become very involved in helping the firms they fund. Lenders put money into the firm when it will need. When the company wants to grow, increase capital and increase sales lenders help it to give money.

As with the other non‐employee members of a firm’s new venture team, lenders and investors help new firms by providing guidance and lending legitimacy, and assume the natural role of providing financial oversight.

In some instances, lenders and investors also work hard to help new firms fill out their management teams. Beyond Financing and Funding: Ways Lenders and Investors Add Value to an Entrepreneurial Venture:

Help identify and recruit key management personnel. Help the venture fine‐tune its business model. Provide introduction to additional sources of capital. Provide insight into the industry and markets in which the venture intends to participate. Serve as a sounding board for new ideas.

Serve on the new venture’s board of directors or board of advisors.

OTHER PROFESSIONALS:

A consultant is an individual who gives professional or expert advice. New ventures vary in how much they rely on business consultants for direction.

Consultants fall into two categories: categories: paid consultants and consultants who are made available for free or at a reduced rate through a nonprofit or government agency.

Creaform Corporation can hire these consultants as and when needed. Attorneys, accountants, and business consultants are often good sources of counsel and advice.