Business Plan Components Doc
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Added on 2020-09-08
Business Plan Components Doc
Added on 2020-09-08
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Business Plan Components
Cover pageBUSINESS PLANTable of contentTable of ContentsTASK 1.............................................................................................................................................................................1 Opportunity recognition..........................................................................................................................................2 Determining the risk associated with sub-sector.....................................................................................................3 Introducing the capability of business in satisfying the investors............................................................................CONCLUSION...................................................................................................................................................................REFERENCES....................................................................................................................................................................Executive summaryThe business at preparatory stage need to have analysis over themarket and the fruitful strategic plans for initiating the operations.In the present report there will be discussion based on new launchof “Icon-Trend”, an online vintage fashion business which going tobe start its operations to facilitate the products to consumers ononline sites. These will have the initially level of operations in UKand then they will plan for expansion. The report containspromotional or marketing plans, management of operations etc.There will be forecasting data sets that will help the managerialprofessionals in analysing adequate requirements of funds toinitiate the business and deliver the satisfactory level of goods andservices to their buyers. The give study will also helpful in terms ofattracting the stakeholders to make their valuable capitalinvestments in the firm.
TASK 11 Opportunity recognitionTo initiate a business on long terms basis, currently it is necessaryto have the online website and operations. The professionals at“Icon-Trend” have planned to launch an online vintage fashionbusiness which will have wide range of textile and accessories.There will be influence of various huge brands such as Adidas,Nike, Gucci, Peter England, Provogue, Oxemberg etc. that will behelpful in terms of attracting the large numbers of consumers of allthe categories (Mason and Stark, 2004). On the other side, it can besaid that to have the business over online segmentation which willbe beneficial for consumers as to have adequate informations aboutthe products, brands, prices etc. They can make comparisonbetween such products and prices. However, in terms withlaunching the business on online segmentation there will be needof having proper marketing as well as association of variousbrands. There will be need to plan the suppliers and distributors asto facilitate the products to consumers on prompt basis.Objectives of business:In accordance with the aims and targets of the “Icon-Trend” todeliver the prompt products and services to the consumers.However, the main objective of firm is to facilitate the adequateand satisfactory level of services to the consumers (McKeever,2016). They have planned to deliver the products most possibly onthe same date or within a week. They decided to have properdelivery channels and suppliers of the different brands that will bebeneficial for developing the unique identity among buyers.Market segmentation:The business is going to initiate the operations over the online siteand that will require proper marketing and promotional techniquesin terms of attracting the wide numbers of consumers as well ashave the adequate profitability (Boiko, 2016). The nature of “Icon-Trend” is to serve the products which are manly relevant withtextile and accessories for men, women and kinds. Therefore, it canbe said that, these operational segmentation is having hugecompetence as there are various organisations who are dealing inthe same product line and same market platform.Target consumers:In order to launch a fashion business the main consumers arewomen, men and kinds. However, as per the influence of variousbrands and unique products it will be helpful in terms of having theadequate numbers of buyers (Brewster and Hegewisch, eds., 2017).
The online business will be convenient and helpful for theme asthey will have their desired goods on their door steps which will bequick and within time limit.Promotional strategies:In accordance with having attraction of consumers andstakeholders which will make their investment and makecollaboration with the firm in operational aspects, there is need tohave appropriate strategies for “Icon-Trend”. However, with thehelp of marketing mix it will be easy for the professionals to havebetter consumer retention, profitability, growth and efficiency inthe operations (da Silva and Las Casas, 2017). Therefore, it can beunderstand as follows:Product: To have the better growth and profitability on the longterm basis there is need to have unique products as well as qualityof them. However, “Icon-Trend” is planning to operate thebusiness on the online segmentation that will be beneficial in termsof attracting the large number of consumers. The managerialprofessionals have planned invite various big brands and theirproducts to be dealt over its online site (Knowles, Holton III andSwanson, 2014). They have decided to facilitate the productswhich are mainly belongs to men, women and kinds. There will beproducts of vintage fashion and accessories that will be unique andattractive to consumers.Price: To have the profitable gains as well as have the appropriatenumbers of buyers there is need to have better pricing strategiesinto consideration. However, it can be said that it is essential tohave the prices that will be beneficial for the organisation in termsof having the appropriate profitability as well as revenuegeneration (Loan, Sustainability and Liabilities, 2016). However,the costs of delivering the products to the consumers will be cheapand affordable.Place: There is no such issue of placing the store or having anoperational unit. Therefore, there will be deals which are to bemade over the online site of “Icon-Trend”, In these regards therewill be requirement of a consumer care centre where installation ofappropriate numbers of computers and appointment of talent andqualified employees to prereform these operational tasks (Lopes,
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