Market Expansion Strategies for Chic by Choice

Entrepreneurial Project
Research Topic: Market expansion strategies for Chic by Choice

Table of Contents
Research Topic: Market expansion strategies for Chic by Choice..................................................1
Research and planning methodology..........................................................................................3
Research aim and objectives ......................................................................................................4
Research questions......................................................................................................................4
Justification for selection of company........................................................................................4
Time Scale...................................................................................................................................5
Literature Review.............................................................................................................................6
Organisational Background.........................................................................................................6
Business Expansion Strategies ...................................................................................................6
Internal analysis .........................................................................................................................7
External analysis ........................................................................................................................9
Market expansion strategies......................................................................................................11
Risk Analysis.................................................................................................................................13
Recommendation and conclusion..................................................................................................13
Conclusion ................................................................................................................................13
Recommendation ......................................................................................................................13
REFERENCES..............................................................................................................................15
APPENDIX – ................................................................................................................................17
.......................................................................................................................................................17

Research Background
Market expansion refers to be an effective strategy which helps a firm in maximising its
current and future sales (Putzhammer and et. al., 2019). For making such a strategy, it is essential
for a firm to consider which market would be easy in light of experience A property management
is essential for a company especially those who has online presence and seeks to open physical
stores now. For purchasing a run-down store, remodels them and conduct market analysis
carefully, is also considered as main aspects for developing strategy (Koves, A. ed., 2019).
Recognizing that marketing skills could be applied to opening a store, so that factors that may
impact on business operations can be explored and strategies to overcome from same can be
made. The present research is based on this concept of market expansion, where a company i.e.
Chic by Choice, wants to open physical layouts in commercial marketplace. Currently this firm
has online presence in Europe and UK marketplace, where through its websites, people can hire
branded designer and luxury clothes which are curated by department and boutiques stores.
Dealing in the e-commerce fashion industry, this firm is headquartered in European Union, in
2014 by Filipa Neto. In order to develop market expansion strategy for opening retail stores in
UK market, present report is highlighted the political environment and other situation of
marketplace of this nation. Through this process, proper recommendation for growth strategy for
respective company also made.
Research and planning methodology
For gathering information about UK market and its current situation that is essential to be
known by management of Chic by Choice, Pestle and Porter’s Five Forces model is used.
Hereby, Pestle model helps in understanding political and legal environment, social factors and
more, that helps in developing business policies as per rules and regulations of UK, so that
chance of running business long time in this nation can be enhanced (Craypo and Nissen, B. eds.,
2019). While by Porter’s five force model, level of competition, threats of substitutes, new
entrances and more, can be evaluated to develop effective growth strategies for market
expansion. While to identify internal capabilities of Chic by Choice that helps in understanding
how much company is enabled to achieve its objective, TOWS model is used. This would also
help in evaluating weaknesses of respective business that might come as barrier during
expansion (Tashman, Marano and Kostova, 2019). The risk analysis is also going to be
considered for evaluating the opportunities that may enhance future sales of respective firm in
3

UK marketplace, through physical outlets. For this process, proper market analysis is done by
taking a number of secondary resources that will appropriately arrange in literature review part.
While to conduct data analysis, self-questionnaire is prepared which will be further fulfilled by
company’s stakeholders and investors. But before to done all these planned activities, the main
aim and objectives of present research is framed in following way –
Research aim and objectives
Aim:
The main aim of this research is “To develop market strategies for shifting business
from online to offline by utilising market entry mode across the nation.”. A case study on Chic
by Choice.
Objectives
 To identify the different market entry mode for opening physical stores in market era.
 To analyse the internal and external market analysis of new marketplace of UK.
 To conduct risk analysis for determining proper growth and success at new marketplace.
 To develop marketing strategies for opening physical stores in UK marketplace.
Research questions
 What are the different market entre modes for opening a store in new marketplace?
 Which analytical tools are needed to analyse new marketplace of UK?
 What risks factors will be involved in growth and success of business expansion?
 Which marketing strategies need to adopt to Chic by Choice to enter in UK marketplace?
Justification for selection of company
Chic by Choice is operating in e-commerce industry with only one showroom in Portugal.
Through its attractive websites, customers get opportunity to hire designer wears and jewellery
on discounted rates. Therefore, the reason behind chosen of this firm how such a company can
face challenges and benefits if open its physical outlets either in headquartered area or across the
territorial boundaries. Through this report, proper suggestions for respective firm to open
business in UK marketplace is given.
Time Scale
In order to conduct research and market analysis, following activities will be done with
time framework -
4

ACTIVITES W1 W2 W3 W4 W5 W6 W7 W8 W9 Wk10
5

Research topic
Research and
planning
methodology
Collect secondary
sources of
information for
research project
Complete
collecting data for
study and present
the result
Discussion
Risk analysis
Recommendation
and conclusion
Prepare final draft
Feedback updated
Complete the
report and submit
the final report
Literature Review
Organisational Background
When a firm achieve a certain level of success and has marked its presence as a company
leader, then to gain higher benefits, they think about further expansion of business into new
markets (Putzhammer and et. al., 2019). It aspires good entrepreneurs that early success in
6