Business accounting Assignment

Running head: BUSINESS ACCOUNTING
Business accounting
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1BUSINESS ACCOUNTING
Table of Contents
Part I: Executive summary.........................................................................................................2
Part II: External assessment.......................................................................................................2
Market opportunity.................................................................................................................3
SWOT analysis.......................................................................................................................3
Porter’s five forces.................................................................................................................5
Global markets.......................................................................................................................6
Part III: Creating marketing strategy..........................................................................................8
Mission, marketing objective and financial objectives..........................................................8
Target market.........................................................................................................................9
Marketing mix........................................................................................................................9
Contingency planning..........................................................................................................10
Part IV: Financial assessment..................................................................................................12
Sales forecast (by product)...................................................................................................12
Expenses Forecast................................................................................................................12
Marketing expenditures aligned with tactics and strategy...................................................12
Break-even analysis.............................................................................................................13
Part V: Key performance indicators.........................................................................................14
Post sales customer feedback...............................................................................................15
Reference and bibliography.....................................................................................................16

2BUSINESS ACCOUNTING
Part I: Executive summary
Kid’s Corner is already an existing business in Albany, New York for the last 1 year
that is planning for expanding its business in other places of US. Further, if the business
succeeds in the US market, it will further plan for expanding its business in Australian
market. CEO of the company will be Mr. John Heward who has more than 10 years
experience in clothing industry. The company’s main target customers will be the boys and
girls aged between 11 and 17. The company will offer high quality products to the customers
with comfortable materials and least possible price. Various clothing products those will be
offered to the age group are jackets, sweaters, hats, bags, shirts, T-shirts and pants. It is
expected that the expansion of the business in other places of US will attract significant
number of customers as during the last few years the fashion sense among the age group
mentioned above has been grown significantly. It will use the special fibre for cotton that will
be comfortable in summer. The special fibre is expected to gain competitive advantages over
the competitors.
Part II: External assessment
“Kid’s Corner”, the retail shop for boys and girls garments aged between 11 years
and 17 years is in 2nd year of its business. At present, the only store of the company is in
Albany, New York. However, it is now planning to expand its business in all over US over
the next 2 years time period. The company offers wide range of clothing for the age group
that includes the clothes manufactured with different fabrics like silk, cotton and wool.
Further, the garments are manufactured keeping in mind the latest trends and fashion
(Andries, Debackere & Looy, 2013). Various clothing products those will be offered to the
age group are jackets, sweaters, hats, bags, shirts, T-shirts and pants.

3BUSINESS ACCOUNTING
Market opportunity
Youth clothes are billion dollar niche under clothing industry. Over the last 10 years
there was a significant change in the dynamic population of US. Non-metropolitan population
have grown at the same pace with the urban population (Bocken et al., 2014). Currently youth
population of Albany is more than 300,000 and each year there are number of visitors who
come to visit the place and the brand is quite known to the visitors. Hence, it is expected that
the expansion of the business in other places of US will attract significant number of
customers.
SWOT analysis
Strength Weakness
 Customers may order for make to
order products
 wide range of the product will be
offered with superior material and
latest fashion rends
 Discount will be allowed if the order
is place for bulk purchase
 The company will hire expert
designer for following the fashion
trends (Massa and Tucci, 2013)
 Huge amount of capital will be
required for expansion. Further, as the
business is quite new it will not be
able to raise huge funds through
credit
 High competition as the company is
new and there are various established
clothing stores in US.
 Marketing expenses will be high
initially to establish the brand and
make it a known brand to the age
group (Blackburn, Hart &
Wainwright, 2013).
Opportunity Threats
 The company will manufacture some
clothes with the print of animated
movies characters as it has huge
demand among the girls and boys
aged between 11 and 17.
 Fashion clothing sector in US is
growing rapidly and therefore
opening the opportunities for the new
businesses.
 Huge demand is there for the girls
wear aged between 11 and 17. Hence,
adding value in this category will
open new opportunity for the
company (DaSilva & Trkman, 2014)
 High competition and regular changes
in the fashion trends is a serious
threat to the new business like Kid’s
Corner
 Due to the recession the customers
are more aware regarding the pricing
of the product and prefer high
discounting offering brands (Schaper
et al., 2014).