Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Fashion industry analysis
Fashion industry analysis
Competitive analysis for clothing industry
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Fashion industry analysis
Products and Services of Our New Business
The products that we are selling are cloths. Our products are going to
be hats (trucker style), T-shirts, and stickers. The goal that we have
put forth is to just get our products out there. Our products are
going to be long lasting, durable, and very stylish. We plan on
producing clothes that are made to the specifications of the consumer
and to their style of liking.
Our clothing products will be durable, comfortable, and affordable.
The products will be available to our customers at low affordable
prices.
We plan to sell our products at lower prices than the other businesses
to boost our income and out-do the other companies. We will try to be
a business that meets the consumers' needs and wants.
The opportunity cost to our clothing company was to start a food
business. We could have chosen to make and sell some sort of food
product, but overall a clothing company was the best option in
starting a business that would be successful.
Marketing and Competition
-------------------------
The potential customers to the company would be practically anyone and
their age, socioeconomic status, ethnicity, or home city wouldn't
really matter. The products that our company makes would be directed
towards anyone interested but would most likely catch the eye of
skaters and surfers.
The needs and wants we plan to fill would be their need to have
comfortable and durable clothing that fits them the way they want
their cloths to fit. We would also be filling their want for a lower
price for the clothes they want.
The companies that are currently filling their needs and w...
... middle of paper ...
...ct by making questionnaires
that will be filled out by potential customers and those that we plan
to make the clothing for.
There are nearby businesses that are offering complements to our
products and we are probably offering complements to those companies
as well.
There might be one or two other businesses that might be substitutes
to our products and we plan on out doing those other businesses by
offering a fresh new style and by selling our products at a lower more
affordable price than the other businesses.
The demand for our products would be elastic because with the
slightest change in price would change the demand for the products
accordingly.
The supply would also be elastic in that the slightest change in the
price of the products would change the supply demand for the product
accordingly.
Karolina Swietoniowska, the young, youthful, educated and passionate owner of Korra dancewear has been in business, trying to live her dream of designing dancewear clothes for the past three years. Sales have been however very slow for her, given that she had other priorities to take care of, she is now looking to improve her position as a businessman and increase her scale of business and expand and grow. Capital and experience constraints have been pulling her down and she is struggling to make her mark on the market. There are other very strong competitors in the market, functioning with very different
We the consumer would rather pay less for any product that is needed or want. Ultimately we are the reason for high prices as well as low prices. Prices of products do not always stay the same and more popular products have higher prices than less popular products. These fluctuations, high prices and low prices are from the idea of supply and demand. Supply and demand defines the effect that the availability of a particular product and the desire or demand for that product has on price. Generally, if there is a low supply and a high demand, the price will be high (Investopedia). To understand the idea of supply and demand, the understanding of supply and the understanding of demand must be defined. The Law of Supply states that at higher prices, producers are willing to offer more products for sale than at lower prices, also that the supply increases as prices increase and decreases as prices decrease (Curriculum Link). The Law of Demand states people will buy more of a product at a lower price than at a higher price, if nothing changes, at a lower price, more people can afford to buy more goods and more of an item more frequently, than they can at a higher price and that at lower prices, people tend to buy some goods as a substitute for others more expensive (Curriculum Link). In todays economics these ideas are seen frequently in everyday life. The laws of supply and demand are seen in many ways in the company Apple Inc. Each year Apple Inc unveils a long awaited mobile operating system and IPhone. We can also see many aspects of the law of supply and demand in Nike Inc’s Jordan Brand. Jordan Brand has released a number of...
The company had to be the second largest retailer shop in the US; it has many advantages that come along. The customers well acknowledge the company and its brand have been well established.
Over the past 37 years, The Nike Brand has evolved into a successful multi-billion dollar corporation. It has also grown to be the world's largest marketer of athletic footwear and apparel. The company’s products are sold in over 180 countries worldwide and 20,000 retail stores domestically. Nike also operates retail stores overseas such as Nike Towns and factory outlets. Although Nike is involved in the design, development, and marketing of the product; the products are manufactured independently. In addition to its wide range of athletic shoes and apparel, the company also sells Nike and Bauer brand athletic equipment, Cole Haan brand dress and casual footwear, and the Sports Specialties line of headwear.
We understand the importance of our missions and the trust our customers place in us. With this in mind, we strive to excel in every aspect of our business and approach every challenge with a determination to succeed.
The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...
B2B or business-to-business marketing focuses on sales of products or services from one business to another, such as manufacturers marketing new products to distributors or software companies marketing enterprise resource planning applications to corporations. Although B2B marketing shares some basic principles with marketing to consumers, such as the 4Ps, the execution of the B2B strategies diverges from B2C marketing in a number of ways.
Today, advances in technology and design are providing many opportunities for new and existing businesses to re-invent themselves and their marketing strategies.
Elasticity is the responsiveness of demand or supply to the changes in prices or income. There are various formulas and guidelines to follow when trying to calculate these responses. For instance, when the percentage of change of the quantity demanded is greater then the percentage change in price, the demand is known to be price elastic. On the other hand, if the percentage change in demand is less than then the percentage change in price; Like that of demand, supply works in a similar way. When the percentage change of quantity supplied is greater than the percentage change in price, supply is know to be elastic. When the percentage change of quantity supplied is less then the percentage change in price, then the supply then demand is known to be price inelastic.
The business model that sets Zara apart from other clothing retailers is how rapidly the company changes stocks and releases new product lineups. The company averages 12-16 collections annually which equates to more than one lineup a month. Due to stock being limited and the rapid production Zara brings forth, their items are viewed as exclusive promoting further business. Their customers are happy knowing that their specific article of clothing is more “rare” due to only having an average of a two-week window to purchase the clothing. The company specifically targets current trends and has them in the store within 30 days. This maintains the brand’s uniqueness and relativity in fashion.
Price Elasticity is the measure in responsiveness of consumers to changes in the price of a product or service. The evaluation and consideration of this measure is a useful tool in firms making decisions about pricing and production, and in governments making decisions about revenue and regulation. “Price Elasticity is impacted by measurable factors that allow managers to understand demand and pricing for their product or service; including the availability of substitutes, the consumer budgets for the product or service, and the time period for demand adjustments.” The proper consideration of Price Elasticity allows managers to set pricing such that the effect on Total Revenue is predictable and adjustments to production are timely. The concept of Price Elasticity is employed in the management of commercial firms and government.
Tyler's Surf N' Turf, my proposed business, will be of service to both tourists and seasoned veterans of extreme sports. My business, located on the beach, will provide classes for beginners and those who want to become more skilled in the sports of surfing and skateboarding. My business will sell surfboards, skateboards, apparel, wetsuits, and other equipment th...
One method that Toyota can consider is using the price elasticity of demand to determine whether to increase or decrease the sale price of their automobiles. The responsiveness or sensitivity of consumers to a price change is measured by a product's price elasticity of demand (McConnell & Brue, 2004). Market goods can be described as elastic or inelastic goods as change in quantity demanded for that good. If demand is elastic, a decrease in price will increase total revenue. Even though a lower price would generate lower sales revenue per unit, more than enough additional units would be sold to offset lower price (McConnell & Brue, 2004). In a normal market condition, a price increase leads to a decreased demand, and a price decrease leads to increased demand. However, a change in income affecting demand is more complex.
We also make our product very nice and affordable and offer services that are currently unique, such as our return product service, where a customer purchase a sportswear and he doesn’t like it he could return it back at any time without any additional charges, most sports companies don’t give that kind of offer, so I think an individual will know that our company is unique because of the services we render. The total potential global market are made up of more than 7billion people because consumers groups are different like in age, level of income and also taste, Wear and Tear is going to be based on demographic segmentation has to we are targeting people within the ages of 18-40
Starting a business is a challenging undertaking that requires detailed planning and intensive research. The modern dynamic market and economic changes demand for the adoption of a well through of business plan that incorporates the entire business requirements (Pinson, 2004). The Paradise Beauty Centre will be a small enterprise that will focuses on the production and distribution of beauty products in United States of America. The business plan will help the business managers and other employees in understanding the long-term and immediate goals and objective of the business.