Stylect: Fashion App Business Pitch - Auckland Uni Project CX660006

The assignment presents a comprehensive business pitch for Stylect, a mobile application designed to provide a personalized shopping experience for apparel. The pitch includes a detailed business overview, highlighting the problem of consumers struggling to find suitable clothing and the app's solution through a 'fashion mentor' feature. It outlines the business idea, value proposition, and target market, focusing on fashion-forward consumers aged 18-40 in urban areas. The pitch further explores market opportunities, competitive advantages, and potential threats, alongside a marketing mix covering product, price, place, and promotion strategies. Financial aspects, including a lean organizational structure, and operational considerations, like legal risks and compliance, are also addressed. The document references relevant academic sources to support its claims and provides a thorough analysis of the business's potential for success.

STUDENT’S NAME
UNIVERSITY NAME
BUSINESS PITCH

BUSINESS OVERVIEW
It has been identified that many consumers find it
difficult to choose an appropriate clothing suited
for different occasions and festivals. They invest
lot of time and effort to find the perfect clothing,
but in vain. Hence, the application with fashion
mentor provides suggestions regarding the best
apparel as per their needs and preferences.

BUSINESS IDEA
IDEA OVERVIEW
 Stylect is a mobile phone application which provides
shopping experience.
 The application provides customers with wide variety
of apparel products and choose appropriate apparel
along with accessories to match up.
 The application comes with special inbuilt feature
called ‘fashion mentor’ to get suggestions from
fashionistas regarding clothing and apparels.

USES OF STYLECT Stylect will enable the consumers to get access to different
brands and choose from varied range of products and
accessories. Stylect will offer 24/7 assistance to the consumers, hence time is
not a barrier The consumers can also get online tracking to check the status of
their orders and track their shipping It saves time and effort of the consumers Stylect application will offer personal fashion mentors for the
consumers to help them choose appropriate apparel as per their
suitability with different occasions.

MARKET OPPORTUNITY
TARGET MARKET (Bharadwaj et al., 2013). Age group – 18-40 years Targets both men and women Fashion forward customers Urban areas Sensitive to latest trends and fashions

MARKET OPPORTUNITY AND THREATS
Opportunities Threats
 Constantly growing fashion
market
 Increased level of competition
• Advancement in technology  Government rules & regulations
 Foreign Markets • Ageing Population
• Increase in online shopping trends
 Online & Viral Marketing

VALUE PROPOSITION AND COMPETITIVE
ADVANTAGE Strong communication system Availability of fashion mentors to the consumers Unique and attractive app features Vertically integrated structure, facilitating
customer satisfaction (Shen et al., 2014) Profitable layout and display of products Cutting edge fashion at affordable pricing

COMPETITIVE PRESSURES
DIRECT COMPETITORS Influenster-Influenster, Myntra online Shopping App and PatPat.

MARKETING MIX Product – It offers varied range of products, jeans, tops,
skirts, t-shirts, trousers, fashionable accessories to match
with the clothes (King & Lakhani, 2013). Price - penetration pricing strategy and low price strategy
to penetrate the market. Place - Stylect will be sold through the online stores,
corporate websites (Brogi et al.,2013) Promotion -Online advertising and promotional
campaigns such as social media and content marketing to
reach out to the target customers.

FINANCE
Source Expense
Development of mobile phone application $40,000 to $460,000
Level of complexity $61,000 and $70,000
Rate of the developer $50 per hour
Basic functionalities $650-$900
User interface design $1000 -$12,000
Promotion and advertising $1500
Professional advise – Accountant, lawyer,
business coach, etc.
$500

MANAGEMENT Lean organization structure Minimum levels of hierarchy Decentralized decision making

OPERATIONS