Download Marketing plan clothing and more Papers Marketing in PDF only on Docsity!
1. COMPANY OVERVIEW
Ace Studio is a retail clothing store for women, men and kids wear with good quality and latest trends. This store will be opened on the Nin the downtown of Begum Bazaar, Hyderabad. The store’s location in Market Square will help it to capitalize on the growing downtown Central Business Improvements. The name, Ace Studio, was chosen because it implies a sense of acing the outfit look, and that’s the main idea that could easily be used to describe the business target customers. We present an extensive range for women, men and kids that are manufactured using different fabrics such as Cotton, Silk, Wool and others. Available in a wide range of gorgeous colors, designs and prints, these apparels are designed keeping in mind the most up-to-date fashion trends for reasonable prices.
2. BUSINESS OBJECTIVE AND
GOAL
MISSION STATEMENT: Ace Studio will be a leader in the retail
sector by offering customers stylish apparels at affordable prices. “What we try to do is that the customer feels unique and gets the most satisfying shopping experience as possible”.
VISION STATEMENT: Ace Studio will provide all the necessary
products and services to outfit in styles that make them feel confident and unique. This will be achieved first through the setup of brick and mortar establishment and later through the addition of an online store.. We promise to provide new designs made from quality materials that are affordable
VALUES STATEMENT: Ace Studio is committed to the following
values maintaining the utmost level of integrity in all customer
and vendor transactions. Educating customers about recent fashion trends and how to properly style their purchases. GOAL: The goal of the business is to deliver a unique yet stylish collection of apparels that changes frequently, personal service, a friendly and relaxed atmosphere, and prices that won’t break the bank. Be not only a source for fashion purchases, but be a source
for fashion knowledge as well.
OBJECTIVE: It covers all phases of the fashion process: design,
manufacture, logistics and distribution to its own managed stores. It is also characterized by their strong focus on their customers. Hire associates that are enthusiastic, love fashion, and have great interpersonal skills. The foundation parameters on which we ensure the excellence of our garments are: Design conformation Embroidery Stitching Stability Cut Finish
Color fastness
Lovely designs and prints Eye-catching colors Long-lasting Apparels Comfortable to wear Available in various sizes
3.TARGET
such as their country, state, county and zip code. (language, area, population, density) BEHAVIOURAL SEGMENTATION: This refers to the need a customer is trying to meet by purchasing a product.
- Usage rate: You can categorize users based on usage rate. Your messaging will be different depending on whether someone is a heavy user, medium user, light user or non-user of your product.
- Loyalty: After using a product for some time, customers often develop brand loyalty. You can categorize customers based on how loyal they are to your brand and tailor your messaging accordingly. (benefit sought, purchase, intent, occasion, buyer stage, user status, life cycle stage, engagement)
PESTLE
Political Factor: Ace Studio is one of the retail store which follows various interactions with governmental policy for intervention in the economy and legal aspects in decision making processes. Economical factor: Ace Studio should be familiar with interest rates, inflation, taxes, this store caters to lower income groups. Social factor: In Ace Studio’s case, it is very important to know customer spending pattern and the changing trends.Our Social media
platforms are Facebook, YouTube and Instagram. Technological Factor: The newer the technology, better the efficiency in an organisation. Technological changes also bring quality control and maintain a type of standard in each product. Ace Studio projects a store locator on the website where you can easily locate a store by entering your desired region and location. Legal factor: The company has to make sure the coverage of all legal aspects while maintaining operating costs and making profits. Legal formalities can affect a company’s reputation plus costs. Environmental factor: Consumers of the present era are all well informed and use products that are socially accepted. It does not harm and effect the environment and the surrounding.
4. SWOT
STRENGTH-
Affordable and fashionable Brand loyalty Brand awareness
WEAKNESS-
Give good ambiance for shopping, which will help the business and give edge over rivals
MARKETING MIX (7 P’s):
Product: Fast Moving Fashion
Ace Studio prides itself on fast moving fashion with new designs restocked in limited quantity every two weeks. It provides good quality and durability clothes. This encourages consumers to frequently visit the stores for new designs. The apparels can be exchanged or returned within 15 days along with the bill. Product width- 3 ( WOMEN, MEN, KIDS) Product Length- 23 ( ALL the Types of clothes like shirt , shorts, jeans, frocks and all) Product Depth - 8 7 8 (8 IN WOMEN, 7 IN MEN, 8 IN KIDS)
Price: Low Cost, High Fashion
Ace Studio believes in offering high fashion at a low cost. Prices range is 250-7000 for both Women’s wear and Men’s wear while the Kids wear has starting costs from 250-2000. In this situation a lower price is set to a level that attracts a large number of buyers quickly to win a market share during a pre-determined period of time.
Promotion: Minimum Advertising
Ace Studio uses 0.3% of its expenditure on advertising, minimal when compared to its competitors. This provides a very comfortable shopping experience. Ace studio uses Social Media (Instagram and Facebook) to promote its clothing to all the customers. The way Ace Studio does their marketing is by just displaying posters at stores.
Place: Retail Location of Ace Studio, like its competitors, is located in Downtown Begum Bazaar, Old City, Hyderabad where human traffic is high. This store is located here because this place has a various types of goods and services available for customers, they find it easy to shop their needs. Process : Creative teams consisting of designers and product development personnel, develop design collections. The teams work simultaneously on different clothing, building and improving on styles previously available. In Ace studio, the design teams work with the all fabrics, allowing for faster fashion. People: The staff should always bear in mind that they are representing the company with their actions. After sales support by asking new customers how the product or services eventually worked out for them can add Some customer value. Physical evidence: New products could be advertise directly to the targeted customer might want to receive the information about the new releases. Our Physical environment where we provide the product with good layout, interior designs, packaging and branding. Our staff dress and act very formal.
