Hike Shoe Brand: Business Plan, Marketing Strategy & Legal Plan

This report outlines a business plan and marketing strategy for a new shoe brand named Hike, emphasizing the importance of modern technology for achieving a competitive advantage. It covers key elements such as the company's vision, mission, objectives, operational plans, and legal considerations. The report also details the staffing plan required for business operations and highlights the strategic tools and techniques used in modern marketing. Furthermore, the document includes a competition analysis and social media plan. It concludes that adopting the latest technology improves business efficiency and supports the successful launch of the Hike shoe brand.

Introduction
A modern business is a business which adopt the latest and updated
technology, which helps the businesses in achieving competitive
advantage in this competitive era (Klein, 2019).
Starting a Business and Fundamentals of Marketing
New Business Idea
Today's era is an competitive era, numerous substitute products are available for
the single products that's why businesses needs to be creative and innovative for
their long term stability and to stand out among it's competitors. This report is
prepared for a new business idea generate on shoe brand named Hike. The
company is having limited staff as it is small and medium enterprise business.
Staffing plan
Staffing planning refers to the process of deciding how many
employees are required in the business units in order to perform the
operations of the businesses (Hopp & et. al., 2018).
Mission
The path or the destination through which the vision of the company
can be achieved is termed as Mission.
Business Plan
Social Media Plan
Marketing Strategy
Competition Analysis
Legal plan
Legal plans means that all the plans of the businesses are made by keeping all the
legal prospect in the mind (Carney, 2019).
Role of marketing in Modern business
The strategic tools and techniques used by the business unit in order to perform
certain operational of the organisation.
Operational Plan
Operational plans refers to the written document which states all the operations or
activities are going to perform by the business in order to reach it's goals during
the specified period of time (Almeida & Santos, 2018).
Objectives
The combined statement of mission and vision of the company is
commonly termed as objective of the business, with they want to
achieve in the specified time frame.
Vision
Vision refers to the position or goal that the company wants to
achieve in the long run.
Conclusion
From the above report it is clear that the modern business improves
the efficiency of the business as it uses the latest technology. The
new business of shoes has being started for which business plan has
been made.
References
• Almeida, F., & Santos, J. D. (2018). 3 Operational Plan.
• Arora, A., Srivastava, A., & Bansal, S. (2020). Business
competitive analysis using promoted post detection on social
media. Journal of Retailing and Consumer Services, 54,
101941.