marketing plan of r bazya
TRANSCRIPT
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National Institute of Fashion Technology, Kolkata
ASSIGNMENT
ON
MARKETING PLAN
OF
RBAZYA DESIGNER STUDIO
Submitted to
Dr. SOUGATA BANEREJEE
FMS DEPT
Submitted by
Rajesh Kumar
Roll no-15
SEM -3rd
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Executive Summary
Overview
RBAZYA Studio is an upscale women's clothing boutique that will open in October this
year. Defines the boutique and its essence of inclusion. RBAZYA clothing selections and
exclusive personal style services, which include a detailed Style Assessment, will ensure that
our customers are well dressed. RBAZYA is a man-owned business currently organized as a
Sole Proprietorship.
Clothing for stylish women
RBAZYA will carry Ready-to-Wear (RTW) designer and casual/contemporary apparel &
accessories for women.
Unique & innovative
RBAZYA will provide services such as Style Assessments, alterations, personal shopping,
and special ordering to customers during store hours and by personal appointments. Style
Concierges who are trained within the image industry will be available to customers on a
daily basis. RBAZYA innovative Style Assessments and educational emphasis in helping
women develop their personal styles will enhance our reputation as a truly unique boutique.
Getting the word out
RBAZYA will generate awareness and sales by utilizing PR tactics and the referral networks
of personal stylists. Additionally, RBAZYA will meet our customers where they are,
focusing on how women approach shopping by obtaining mentions and reviews in the top
fashion publications, travel guides and local papers.
Management
Our advisory team holds expertise in retail accounting, retail merchandising, legal contracts,
fashion and design. A detailed project plan has been created and all tasks are on schedule.
Buying for the Fall/Winter season was completed in April, and store design and marketing
elements are currently being finalized.
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Mission
To provide women with a boutique that offers a comfortable and approachableenvironment
To showcase quality, well-constructed fashions from prominent and cutting-edgedesigners
To offer a variety of beautiful and high-end fashion accessories To help women learn what clothing and styles go best with their unique personalities To generate buzz and sales through top-notch exclusive services
Keys to Success
1. Having a good location in a high-shopping area2. Quality product and good relationships with vendors3. Outstanding customer service
Objectives
To turn inventory five times and generate RS8000 in sales per square foot To maintain profit margins at 15-20% through close attention to expenses and cost of
goods sold
To drive awareness and build sales through mentions in both local print and fashionshows
Company Summary
RBAZYA Studio is an upscale women's clothing boutique that intends to open in Neem ka
Thana, Sikar in oct.2011. RBAZYA means circle of friends" in HINDI; this defines the
boutique and its essence of inclusion. RBAZYA carries beautiful designer labels for
professional women, such as the sophisticated silhouettes, handbags. RBAZYA clothing
selections and exclusive personal style services, which include a detailed Style Assessment
that features nine different style personalities, will ensure that our customers are always well
dressed.
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Start-up Summary
This 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 private institutions and investors
The Start-up Table which follows details the Start-up Requirements, including Start-up
Inventory and Long-term Assets in the form of Fixtures and POS Equipment. Start-up
Funding will consist largely of owner investment and a long-term loan from the Small
Business Administration. The Start-up Period for this plan runs from march through oct.
RBAZYA will open on OCT 14, and we project real sales beginning in November of Year
1.
Company Ownership
RBAZYA will be established as a Sole Proprietorship due to the ease of formation, and
simplicity of the structure and tax record keeping. In the future, RBAZYA will look at
forming an S Corporation when another location is opened.
Situation analysis
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Environmental analysis
External environment analysis
By the careful external environmental analysis w find out the following factors important to
consider in order flourishing in the industry
Political
We are having laws but no enfo rcement at all. This thing is devastating for any
industry. Elections run through almost every year although for none but for many reasons.
Every government brings new rules and policies. Even different political par ti es are
against fashion industry
Economic
Inf latio n ra te in India i s ri sing every yea r. Interest rates are other freaky thing. And
the recent world recession th o ug h ha d le ss im pa ct on In di a ec on om y ye t ha s
i t s i mp o rt an ce . Th es e t hi n gs ar e li k e hurdles in fashion or in any industry. The
price wars are also of great important. Countries with high technologies are striving with low
prices dragging developing countries towards down.
Social
People are becoming more fashion conscious and careful in their selection. Advanced
telecommunications has improved sociability of the people. At the same tim e religion
is on the move. Thes e al l things have a gr eat impact on fashion industry as people
are more aware of their needs so as to satisfying them.Technology
Though fashion industry is not technology driven but in ever dynamic and global market its
now being essential to prosper in the technology area. Now a day without technology success
seems far. Its a great tool of competitive advantage and a source if brand equity as well. The
concept if e-busin ess is having great imp act on f ashion indust ry. Enhanced
Internet , mobi le and media activities are gaining much importance in the fashion world.
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Internal environment analysis
Following are the factors considered as internal
Resources (people)
14 (1 Graphic designers, 2 sales girls, 5 tailors, 1 iron man, 1 dyer, 1 office boy, 1 guard,2
sweepers/ peon)
Organizational structure and culture
Dynamic yet friendly Top management decisions
Product development
Design
Pattern making/ cutting
Stitching
Finishing
Presenting/ market
Training
Required in order to give familiarity with new trends and styles
Systems and process
In-house and outsourcing stitching (buttonholes and elastic embedding will be outsourced)
Contracted designers
Stitching machines 3
Working hours 8
Rent out outlet (as per following infrastructure components)
The Primary Customer
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The primary RBAZYA customer is a professional woman with a household income over
RS20000K. Her main characteristics are listed below:
Demographics
Teenager Professional woman (ages 25-55) Household income over 100,000 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 Behaviours
Spends over RS2,5000 for clothes each year Shops at Boutiques, designer Wears a size 6, 8, or 10 Buys mostly ethnic wear, sari , tops and pants 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
Competition and Buying Patterns
RBAZYA has stiff local competition with the many wonderful shop neem ka thana. Direct
competitors include those shops that carry some of the brands that Rbazya plans on carrying
or could move easily into carrying. Indirect competitors are those shope in nkt that focus on a
different target market or do not carry lines that rbazya will carry, in addition to well-known
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boutiques in other metropolitan areas. It appears that if you don't look a certain way or show
that you have money when you walk in, you are immediately disregarded. Dressing rooms
are typically small and have curtains that don't guarantee 100% privacy. Clothing sizes tend
to run small and items tend to be overpriced
Direct Competition:
Strategy and Implementation Summary
Develop strong relationships with customers by utilizing Style Assessment andoffering services to help each woman determine the right clothes for her.
Provide educational materials and programs that enable customers greaterdecision-making confidence.
Build awareness of brand and services to exemplify strong store reputation. Provide customers with a sense of access to "inside information" and harness the
power of a woman's personal network by leveraging marketing collateral designed for
sharing and encouraging referrals.
Utilize personal referrals and stylists to build traffic.
Swot analysis
Strengths
Good and high quality machinery
Exclusive outlet
Highly qualified staff
Adaptability to newness
Diverse brand portfolio
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Weaknesses
High rates and prices
Les s sup po rt i ve f in an cia l and gov t institutions
Lack of idea sharing
Opportunities
Expand into emerging economy
Enter new product market
Acquire more market
Threats
Lack of knowledge
Brand cannibalization
Substitute
New entrants
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Marketing objective
Objectives:
Non-financial objectives:
To be among the top ten favourite brands
To add new designs in every season
To drive awareness and build sales through mentions in both local print and the nation'stop
fashion magazines
Financial objectives
To maintain an inflation growth in earning per year at a rate of 12%
To obtain a return on equity of at least 30%
Providing stitching facilities to other boutiques in 2012 who are lacking this facility
To maintain profit margins at 15-20% through close attention to expenses and cost of goods
sold
Targeting and poisoning strategy
If you were to overhear women talking in a dressing room, you would more than
likely hear them comment on something they've tried on and question how they should wear
it or what it will go with in their closet.
Research has shown that women are stressed, have little time to shop, and would generally
like help in determining the right clothes and styles to wear. With over 61
million U.S. women between the ages of 25-54 spending over $34 billion in
app arel each year, there a re sure to be some mistakes made in clothing choices.
Television
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S h o w s s u c h a s B B C ' s " w h a t n o t t o w e a r " a n d S t y l e ' s " F a s h i o n
E m e r g e n c y clearly speak to a woman's confusion about what looks best on her. Even
women who can afford professional stylist feel helpless and often jokingly request that their
stylist come to their home every morning to help them get dressed."Within a decade, the
companies that do the best job of marketing to women will dominate every significant
product and service category." -Faith Popcorn
Target: Women Position: Time; less time to find latest and trendy fashions in a single place.
Without utilizing much energy, effort etc
Poisoning, value proposition
Describe how you will differently position your product form the competitive products.
Positioning Statement
R B AZ YA B out ique p rov ides w o m e n w i t h u p s c a l e d e s i g n e r c l o t h i n g
a n d ex c lu s i v e personal services. Our main competitive advantage is the unique Style
Assessment and education emphasis in helping women develop their personal style.
Brand Positioning
Its Easy to be Trendy A s t h e n a m e a n d l o g o s u g g e s t t h a t w o m e n c a n c o m e
to the boutique to learn about themselves and experiment with their personal style.
By these meanings, Rbazya looks to be the leader in providing exceptional service and
assistance for women's fashion needs. The elegance of the name suggests the types of
clothing and accessories that will be featured.
Brand personality
Innovative | Stylish | Contemporary | Modern | Fresh | Approachable | Elegant The over al l
brand person al ity of RBAZYA aspi res to be fashionable, cus tomer-oriented,
innovative, refreshing, stylish and educational. The boutique is a place where
women can go to transform themselves with beautiful clothes an d take advantage
of the Style Assessment and other s ervices that help them determine the right
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clothes for the ir uniq ue selves . We are a shop that educates. We help women learn
about the designers, gather with their friends, and have fun during the process. We not
only carry items that help them look good, but we also help our c ustomers
maintain these items. Owners will work with their top design advisors t o create
the atmosphere, colors and wording that encapsulates these thoughts
Products and Services
RBAZYA will carry Ready-to-Wear (RTW) designer diffusion lines and
casual/contemporary apparel & accessories for women. RBAZYA will carry designer
fashion accessories such as handbags, scarves and wardrobe accessory.
PRODUCTS
Product Mix
Products will be priced at the high end to reflect the quality and exclusiveness
Associated with the brand. High-end materials such as Crinkle Chiffon, Georjot Chiffon,
Chinese Raw Silk, Medium Silk, Leafy Print Jamawar, Chamose Silk etc will be used. This
boutique will offer following product categories of women wears:
Casual Wear Semi Formal Wear Formal Wear
Each product category will include the following product lines:
Ethnic Wear
Formal WearParty dresses and special occasion dresses
Contemporary Wear
Fusion WearCombination of eastern and western wear, suitable for the
International market as well.
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Western Wear
Tops, Pants and various other styles
ACCESSORIES
Wardrobe Accessories: Fashion Accessories:
o Local designer jewelleryo Handbagso Belts, Scarves, Gloves, Hatso Lingerie
Brand strategy
We brand our product with brand laddering: emotional brand laddering, our product is
of image conscious which requires highly image positioning
Our boutique focus on latest trends and less time to reach them. Woman can get what they
want without any problem and with great ease. We are providing value, image, elegance and
style of what woman are hungry.
Brand name
: RBAZYA suggesting that what is in the fashion. Easy to pronounce and easily accepted all
over the India without any discrepancy. We can even extend our boutique to men under the
same name this name has no limitations.
Logo:
needle and thread expressing the nature of business. It is memorable generating loyalty and
protectable. Adaptable to any culture. And having no cultural problem all over the country.
Similarly have no limitations. Acceptable for both genders.
Color:
red and black. Quite neutral color easily memorable and associations can bedeveloped
without any problem. The R written in capital font and with red color gettingattraction andattention.
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Slogan:
Its easy to be trendy positioning on time and easy to memorable. Also it delivers that we are
giving whatever is in fashion and is in. It is also protectable and acceptable inculture.
Symbol:
girl wearing contemporary dress. Focusing on latest designs and fashion. And italso shows
that boutique is of women. Women can generate associations with the symbol.
Pricing
Pricing is set according to market indicators. Set in such a way that it covers cost and
generate revenue for the boutique. In the start it requires lower prices in order to penetrate in
the market. Than high the price for the assurance of high quality as it is perceived.
Version Upgrade/Competitive Upgrade Matrix
INTEGRATE MARKETING COMMUNICATION PLAN
Promotion
RBAZYA customers will learn about the boutique through the following sources:
Friends & Customers (word of mouth and email) Personal shoppers and stylists Women's Fashion shows Local press mentions & ads
Promotion
The following promotional tactics for generating buzz and awareness about RBAZYAwill
be implemented:
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Personal selling and word of mouth via networks of friends, stylists and customers Unique visual displays in storefront on a weekly basis PR (local and national) Boutique email newsletters Direct mail such as postcard notices that are targeted specifically to the customer Sales Promotion such as store events and bi-annual sales
Other important marketing strategies, such as developing strong customer relationships
(retention), will utilize a different mix of marketing programs.
Direct marketing activity
Catalog marketing will be used, direct mail are also considerable
Retail support or other collateral
Brochures and key chains will be designed written rbazya on it.
Distribution strategy
Manufacturer Customer Direct chain as we are having both backward and forward
integration.
Selectivity
Shopping good so exclusive outlet and selective distribution as product is of high image.
Waiting and delivery time
Product will be available in the outlet so customer doesnt have to wait for the delivery.
Variety and Assortment
We will provide this as we are dealing in three categories; casual, semiformal, formal
Information provision:
We will provide training to our employees so that they can facilitate the customers as much
as possible. Following flows would be performed to produce the above services outputs.
These flows would be performing from manufacturer to consumer through whole seller and
retailer.
Physical possession
Ownership
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Financing
Risking
Negotiation
Promotion
Ordering
Payment
Channel Function and Flows
A marketing channel performs the work of moving goods from producer to consumers.
Itovercomes the time, place and possession gaps that separate goods and services from those
thatneed or want them. It perform number of functions:
They gathering information about potential and current customer, competitors, and
other actors and forces in the marketing environment.
They develop and disseminate persuasive communication to stimulate purchasing They place
an order to the company They provide for the successive storage and movement of the
physical products.