Marketing Plan of r Bazya

8/2/2019 Marketing Plan of r Bazya

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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.

Marketing Plan of r Bazya

Documents

Transcript of Marketing Plan of r Bazya