FR Boutique: Advanced Business Practice Proposal Report BUS30024

The assignment is a comprehensive business proposal for FR Boutique, a new venture aiming to revolutionize the men's fashion industry in Australia. The report begins with an executive summary and introduction, outlining the company's vision to offer fashionable designer clothing and educate men on current trends. It details the target market (males aged 18-35), lack of competition, and proposed marketing strategies, including social media and a direct-to-consumer store in Melbourne with online ordering and delivery options. The report includes a 4Ps and 7Ps marketing mix analysis, financial projections, and a stakeholder charter that emphasizes social impact and ethical practices. The proposal also addresses potential profitability, investor attractiveness, and references relevant academic sources. Overall, FR Boutique aims to fill a gap in the market and establish itself as a sustainable and successful business.

Assignment 4: Presentation and Report
BUS30024: Advanced Innovative Business Practice
Assignment 4: Presentation and Report
Request for
Proposal
FR BOUTIQUE
January 2020
Executive Summary
ISSUED BY
FR BOUTIQUE

Introduction
The following formal proposal is a complete outline of FR Boutique, a new
company making headway into the fashion industry by changing the
changing the way fashion and designer clothing is offered, especially towards
males.
The report presented is a full overview of the target market in which FR
Boutique is clearly placing its emphasis towards, a display in the lack of
competition presented in Australia, and envisioned success that FR Boutique
can land strong ongoing growth through a detailed approach in which they
plan to promote, and strong marketing structure, displaying the company's
overall vision.
Along with the company vision and marketing plan, FR Boutique places a
strong focus towards its financial targets, profitabilities, costings, investors,
and also the humanitarian aspect in giving back to the community, through a
strong social impact as a business.
FR Boutique is planning success, in showing men what is currently
fashionable, and to pioneer the pathway into teaching men.
Objectives
1. Identify an area where there is a gap in the Australian market within an industry group
that has a social impact focus.
2. Choose a new venture or franchise that will fill this gap within the identified business
sector.
3. Research the external factors and the market to analyze customer base, size,
competitors, macro environment and assess the feasibility of the venture.
4. Articulate the competitive advantage, value proposition, profitability assessment and
business model for the chosen venture.
5. As a team present a successful pitch of the project to investors showing that the
proposed business would break into the market, be profitable, fill a current gap, have a
clear social impact, and be a good investment opportunity.
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Business Description
Describe the business, the social impact and justify your choice. include Information and research from
external and industry analysis ( Porter’s 5 Forces & PESTEL Analysis)
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Proposed Strategy and Justification
Part 1
Explain the business strategy and marketing positioning you propose. (Use Perceptual
map)
· Explain your market position and discuss competitors - show existing market share,
weaknesses and strengths ( 3Is competitor’s analysis)
Part 2
FR Boutique has a strong strategy to launch its brand to our specific target market, ideally
focussing heavily towards Male’s aged 18 - 35 years. The strategy will specifically align itself
with a focus at a social media driven advertisement, along with the use of other advertisement
formats. FR Boutique will comprise of a direct company-owned store opening in Melbourne for
customers to view and browse all products and items on offer to hire, along with a website
offering an online ordering feature to assist and ease the shopping experience for at home or
office browsing customers, with a pick up and delivery option available.
The eventual forward direction of growth will predominantly be to have expansion stores open
in all major cities around Australia, which are open for further investors to buy into and assist
the driven growth of a successful company succeeding, in an expanding market.
Marketing Mix 4P's
FR Boutique has a strong potential if we utilise a strong marketing strategy. Below
is a direct reflection of the Marketing Mix in which FR Boutique will structure around.
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Target Market: Males aged 18 - 35 years old
Product: Popular designer brands and
fashionable clothing items that are higher end / in
season / and on trend - popular in the fashion
industry at present. Help male’s become more
educated around fashion and how, and what to
wear.
Price: Cost effective and affordable for items that
are not generally affordable to many people,
penetration higher end brands to lower and middle
income earners.
(See financial section for full cost / price
structuring).
Promotion: Promotion through strong
advertisement via social media, advertising
agencies, fashion books and media outlets.
Opening and Seasonal offers, the ability to
purchase out of season items, over rented items at a reduced cost.
Promotion can also extend through word of mouth and from company investors.
Place: FR Boutique will open its doors with a company-owned store in Melbourne, with
investment and expansion ideally into all major cities in Australia.
Focus on been a rental store, with items for retail and mail ordering.
Marketing Mix 7P's
The diagram in feature shows a fully
detailed exposure of what the 7P’s
Marketing Mix requires, modifying the 4P’s
model, the 4P’s and 7P’s models are a great
focal point for any company that wants to
have success and ongoing growth for a new
company
https://marketingmix.co.uk/
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Pitch of Profitability
Discuss the potential profitability of the business and explain how this would be attractive to
investors.
Financial analysis (including 5 years’ worth of projections—including cash flow statements as well
as profit and loss reports
Include: information about the likely returns on investment, initial development or start-up costs,
projected payback periods and projected growth targets for revenue/profits etc., based on the market
size and market share.
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Stakeholder Charter (400 words)
Develop a stakeholder charter for your business and explain how the points developed for your
stakeholder charter will be applied in the business. Include eight principles in your charter that are
specific and tailored to your business. At least four of these should come from the Global UN
Compact.
Customers  Encourage the development and diffusion of
environmentally friendly technologies.
Employees  Businesses should uphold the freedom of association
and the effective recognition of the right to collective
bargaining (United Nations Global Compact, 2020);
 The elimination of all forms of forced and compulsory
labor;
 The effective abolition of child labor;
 The elimination of discrimination in respect of
employment and occupation (United Nations Global
Compact, 2020).
Investors  The businesses should support a precautionary
approach to environmental challenges
Suppliers and Vendors  Undertake initiatives to promote greater
environmental responsibility; and
Communities  Tolerance policies should be decided regarding the
authorities that look after the community based
diversity on the company. Thus the identity of the
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employees as well as the notion of ideas and the
responsibilities of the employees will be maintained
by the business that the company is making (United
Nations Global Compact, 2020).
Governments  The businesses should work against corruption in all
its forms, including extortion and bribery (United
Nations Global Compact, 2020).
Human Resources  The businesses should support and respect the
protection of internationally proclaimed human
rights; and
 It should be made sure that they are not complicit in
human rights abuses (United Nations Global Compact,
2020).
Directors  The directorial level easy mode of communication
should be maintained and various types of ideas and
the notions of the business procedure should be
identified so that the employees may not suffer
misconduct and the identity of the directors should be
transparent and clear to everyone who are working
for the coming.
The identity of the tolerance policies as well as the programming and
making of new types of the rules will definitely help the organization to
maintain its identity as well as also help it in capitalizing in its market
(Adekola and Sergi, 2016). Therefore, the global approach as well as increase
in the establishment of the market is also an important factor also (United
Nations Global Compact, 2020). The stakeholders focus on the increasing the
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reach of the company in case of the Boutique that is being taken as the
business organization, it will be needing the association of the stakeholders
specially from the employees, human resources and the directors as well as
from the suppliers and the vendors (Erasmus, Strydom and Rudansky-
Kloppers, 2016). This will help the company to increase their production and
make good and stable establishment in the market reaching out to a higher
number of people. Thus, the company will be eventually established as a
sustainable company, which will help the company to achieve new targets
and prosper in its field (Noe, 2017).
Conclusion (200 words)
The report comprises of the various ideas to develop a business
organization. The organization that has been chosen is FR Boutique. The
various types of business strategies have been identified in the report, by
analysing scholarly and resources covering the ethical grounds. Thus, the
approach of establishing the company as a steady and stable organization is
the main target, which has been pursued in the report. The identity of the
various investors and their roles on the company is identified in the report as
well. The identification of strong and potent strategies has been identified in
the report. This has given a brief outline of the nature and the target of the
company that is its target. The identification of the aims and the goals of the
company has also been discussed as well in the report.
The Marketing Mix strategy has been identified so that the working mode
and the functioning of the organization can be assessed and clearly stated.
The marketing mix strategies validates the functioning of the company and
gives a brief explanation regarding what strategies would be good or act as
beneficial for the company so that the company may be established globally.
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Lastly, the stakeholders policy and the identification of the roles of
every stages of the stakeholders are identified, which the company will be
needing and their style of work has been discussed as well.
References
Adekola, A. and Sergi, B.S., 2016. Global business management: A cross-
cultural perspective. Routledge.
Erasmus, B., Strydom, J.W. and Rudansky-Kloppers, S. eds., 2016.
Introduction to business management. Oxford University Press Southern
Africa.
Noe, R.A., Hollenbeck, J.R., Gerhart, B. and Wright, P.M., 2017. Human
resource management: Gaining a competitive advantage. New York, NY:
McGraw-Hill Education.
United Nations Global Compact (2020). The Ten Principles of the UN Global
Compact. [online] United Nations Global Compact. Available at:
https://www.unglobalcompact.org/what-is-gc/mission/principles [Accessed 16
Jan. 2020].
Appendix
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