Innovation in the Business : Assignment

Innovation in the business
Fashion and apparel selection

Problem faced by the customers
Reluctance faced by the customers while
choosing from an array of brands
Time consuming affair
Shortage of commodities in websites

Business idea
Virtual trial rooms

The business proposition
The value that is proposed by the business
will be based on the identification of the
needs of the customers. The identification of
the fashion based needs of the customers
helps in maintaining the different aspects of
the change in the systems of the business.
The creation of the virtual trial rooms will be
enabling the company to adhere to the
requirements of a large number of consumers
at a time.

Functioning of the business process
Customers enter
the application
Tries the product
virtually
Makes a buy of
their preferences

Market size
A
va
st
sc
op
e
fo
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th
e
bu
si
ne
ss
to
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pa
nd
in
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im
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en
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ti
on
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w
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gy
7
.
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a
r
8
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Channels

Cost structure

Cash Flow

Feasibility of the idea

Success factors
Time saving
Online marketing
Cost savings
Wide variety of products

The team
The business would be having one owner.
There will be four people in the HR
department and around 12 people in the
sales team. 5 members of the sales team
will be engaged to target the foreign
customers. The remaining 7 members of
the sales team would be supporting the
needs of the customers through proper
interactions.