Importance of Marketing Strategies for Small Business: A Study on ClothyWear

BUSINESS PROJECT

EXECUTIVE SUMMARY
The purpose of this report is to develop a new business idea with new innovation and
creativity. The main aim of this project is to identify the importance and impact of marketing
strategies over for small business in development of its venture within the United Kingdom. For
conducting the report, the main purpose is to develop a business plan that provides better
products and services in market form other companies. The method which is chosen for this
project is secondary data method. It helps in collecting information through different sources
such as articles, journals and publication. This project helps in providing the description of the
business concept, product description, target market, positioning strategy and window of
opportunities. Thus, it also covers industry analysis and feasibility analysis in order to provide
detailed information related to the chosen products and services.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
CHAPTER 1: INTRODUCTION....................................................................................................5
The Rationale of business opportunity........................................................................................5
Scenario chosen...........................................................................................................................5
Vision..........................................................................................................................................6
Mission........................................................................................................................................6
Aim..............................................................................................................................................6
Objectives....................................................................................................................................6
Structure of the business plan.....................................................................................................7
Chapter 2 The business concept.......................................................................................................1
Introduction.................................................................................................................................1
Description of the Business Concept..........................................................................................1
Product/service description.........................................................................................................1
The Target Market......................................................................................................................2
Positioning strategy.....................................................................................................................2
Value added.................................................................................................................................3
Who is involved..........................................................................................................................3
The window of opportunity.........................................................................................................4
Chapter Summary.......................................................................................................................4
CHAPTER 3: LITERATURE REVIEW.........................................................................................5
Introduction.................................................................................................................................5
Industry analysis.........................................................................................................................5
Conclusion..................................................................................................................................7
Chapter 4 Feasibility/Methodology.................................................................................................8
4.1 Introduction...........................................................................................................................8
4.2 Market Research....................................................................................................................8
4.3 Market Analysis..................................................................................................................11
4.4 Product and service feasibility............................................................................................13
4.5 Organisational feasibility....................................................................................................14

4.6 Financial feasibility.............................................................................................................15
4.7 Chapter summary................................................................................................................15
CHAPTER 5- ANALYSIS OF THE BUSINESS MODEL..........................................................16
Introduction...............................................................................................................................16
Strategic analysis of the new or existing business idea.............................................................16
Identification of sources of competitive advantage and sustainability.....................................17
Selection of strategies for success.............................................................................................18
Development of appropriate business model............................................................................19
Chapter summary......................................................................................................................21
CHAPTER 6: EVALUATION OF THE BUSINESS PLAN........................................................22
6.1 Introduction.........................................................................................................................22
6.2 Overall assessment of the business plan.............................................................................22
6.3 Business plan schedule........................................................................................................22
6.4 Business viability................................................................................................................25
6.5 Critical success factors........................................................................................................25
6.6 Chapter summary................................................................................................................26
REFERENCES..............................................................................................................................27

CHAPTER 1: INTRODUCTION
The Rationale of business opportunity
The reason behind choosing this business idea is due to the emergence growth in retail
sector. Nowadays, people are adopting new and trendy clothes in order to improve their standard
of living (Muthu, 2020). Fashion has changed and shaped the lives of people and also they
demand high quality of clothes which makes them satisfied (Majumdar, Garg and Jain, 2021).
Nowadays, companies are reducing the quality of clothes along with the cost. It is one of the
important reason due to which investigator has selected the current business idea of establishing
new retailer brand of clothes in UK. It is being stated that Clothywear has emerged due to the
reason that companies are selling low quality of products at high price. The main motive of this
brand is to offer high quality of clothes to its customer at affordable and reasonable price which
helps in creating strong customer base and also increases the market presence of Clothywear. In
order to increase its presence in market, there are various marketing strategies which can be used
by company such as social media marketing, content marketing, internet marketing, email
marketing and direct selling (Palominos, Quezada and Gonzalez, 2019). Through implementing
these marketing strategies, Clothywear can reach to maximum number of customer and provide
brief description about its product and its quality. The marketing strategy of Clothywear is to use
TV ads, social media platforms, content marketing and email marketing in order to promote their
business in UK market. Marketing strategies creates a great impact on the business performance
and productivity. The opportunities that small business can be gained while developing their
business are access to new market, improving profitability, creating strong customer base,
advanced technology and access to talented manpower (Birt, 2021). Clothywear is focusing on
producing better quality of clothes which includes good quality of material, natural fibres are
used and also inspect the clothes on every stage of production. The brand offers trendy and
fashionable clothes to its consumers in order to make the feel satisfied and happy while wearing.
Scenario chosen
The scenario chosen for this report is establishing new retail business that offers wide
varieties of trendy and fashionable clothes to its customers. For developing the venture, company
is focusing on using different marketing strategies that helps in attracting large number of UK
customers due to which the profitability and growth of business increases. The clothing brand

changes the market by offering premium quality of clothes to its potential customer at reasonable
price. Organisation is also focusing on maintaining sustainability by reducing the negative impact
on the environment (Soltani and Azar, 2021). The brand is unique as they bring creativity and
trendy clothes for its consumers which helps in improving their dress sense and also improves
their living standard. Clothywear focuses on implementing marketing strategies in order to
increase their presence in UK Market. Through using marketing strategy, company can promote
their product and also attract large number of audience towards the brand.
Vision
The vision of Clothywear is to offer excellent quality of clothes which helps in improving
customer experience and also protect the environment. They are focused on maintaining
trendiness of fashion and leading change towards renewable and circular fashion. The brand is
committed to offer high quality of products and services to its customer by contributing to the
sustainable development of society. Vision statement of Clothywear reflects long term goal and
also it depicts about the new things which they are bringing in order to remain competitive in
market. The company thinks that they can achieve success in market by offering their consumers
trendy fashion and lifestyle.
Mission
The Mission of Clothywear is to bring positive changes in society by reducing negative
impact on environment through implementing sustainable practices. Clothywear offers unique
designs of clothes and also improves the fashion sense of customers. There motive is to offer
premium quality accessible to everyone through the range of its products. It generally outlines
that company is selling better quality of products and also diversifying their offerings. The
organisation develops the products by offering value for money so that they can attract more and
more customer towards the brand.
Aim
To identify the importance and impact of marketing strategies over for small business in
development of its venture within the United Kingdom: A study on ClothyWear
Objectives
 To identify the types of marketing strategies used by small business within the UK

 To determine the impact of marketing strategies over for small business in development
of its venture within the United Kingdom
 To evaluate the opportunities that small business can be gained while developing their
business in the UK
 To examine the challenges that could be faced by small business while developing their
business in the UK
Structure of the business plan
The business plan is related with establishing new clothing business as organisations are
offering low quality of products to its customer at premium price. The reason behind opening
new venture is to provide better quality of clothes to its customers.
Within the business plan, different aspects of the business are discussed so that a new venture can
be established in better manner. The business plan is going to be discussed about the description
of business concept, product description, target market, positioning strategy, value added, who is
involved and the window of opportunity. It also focuses on conducting feasibility analysis in
which different models are implemented. Further the report also covers, market research, market
analysis, product feasibility, organisational feasibility and financial feasibility. Besides this an
analysis of business model is also conducted by including the strategic analysis of business idea,
identification of sources of competitive advantage, selection of strategies for success and
development of business model. Thus, this report covers various factors which are included for
establishing and operating the business activity in smooth and efficient manner.

Chapter 2 The business concept
Introduction
The major goal of this market study is to comprehend the new market and determine the amount
of competition inside the UK market. Clothywear works in the retail industry, which provides a
greater range of clothing to its clients in order to create more profit and brand image in the
market. The company should concentrate on gathering market data so that it can plan and create
plans properly (Uotinen, 2019). Customers, rivals, and a variety of other aspects must all be
considered when gathering market data.
Description of the Business Concept
The business plan is about starting a new clothes business because organisations are selling low-
quality products at a high price to their customers. The goal of starting a new business is to give
higher-quality clothing to its clients. Clothywear works in the retail industry, where it offers a
wider variety of clothing to its customers in order to increase profit and brand awareness. The
organisation should focus on acquiring market data in order to properly plan and make plans.
When acquiring market data, customers, competitors, and a variety of other factors must all be
taken into account. The rivalry in the UK market is fierce, as many competitors such as Marks &
Spencer, ZARA, and others offer distinctive clothing products to their clients. To achieve a
competitive advantage, Clothywear must concentrate on assessing the level of competition.
Product/service description
Product and service are one of the main elements in determining the overall appeal of a proposed
product or service. When starting a new business concept, it is critical to examine a number of
important factors so that the firm can operate effectively and efficiently. The product or service
desirability and the overall start up cash required are the two key components of product and
service feasibility. The viability of a product or service is crucial to an organisation since it aids
in the creation of new business. Product attractiveness is the first factor to consider when
determining whether a product or service is desirable and meets a market demand. The other
component is total start-up capital required, which focuses on determining the amount of money
needed to start a business Schmidt and et.al., 2019).
In order to build a loyal client base and acquire their devotion to the brand and product,
the brand focuses on providing higher-quality products and services to its customers. The brand's