Neuro Fashion: Strategic Plan, Objectives, and Market Techniques

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Added on  2023/03/24

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This report delves into the business strategy of Neuro Fashion, a foreign clothing retail brand aiming to provide customers with the latest fashion clothes for both men and women. It outlines the company's mission, vision, goals, and objectives, focusing on providing exclusive clothing products, faster turnover of new stock, and fostering a modern, innovative company valued by customers, staff, and shareholders. The report identifies key competitors and factors to consider while formulating a strategic plan, such as industry analysis, objective setting, environmental evaluation, and competitor analysis. It also explores techniques like the BCG growth share matrix and Profit Impact of Market Strategy (PIMS) to aid in decision-making regarding investment, divestment, and portfolio balance. The analysis considers budget allocation, operational activities, the nature of the business environment, and production process structure. References to relevant academic literature are included to support the strategic considerations.
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Business Strategy
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Neuro Fashion
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1.1 Mission,Objective,goals and core
competencies of new business
Neuro Fashion World company
This company is a foreign clothing retail brand that will provide
customer with the latest fashion clothes.
The clothes for both men and women will be available in the store
of this company.
The products of clothing such as shirts, jeans, accessories, party-
wear etc will be there in this store.
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Vision
To provide its customer with exclusive clothing products
The faster turnover of new stock will be provided to its customer
To be a modern and innovative company
To be valued by the customer, staff and shareholders.
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Goals
To create a community around brand that allow individuals to feel
connected with company fashion and values.
To be successful in the next 2 years in this fashion market
To innovate their products to enhance the experience of customer.
To grow the core business
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Objectives
To start a successful operation in UK this year
To develop a consumer focused product line and marketing
strategy
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Competitors
Bayerische Motoren Werke AG
Chrysler Group LLC, Daimler AG
Ford Motor Co.,
General Motors Company
Honda Motor Company,
Nissan Motor,
Tata Motors, Ltd.,
Toyota Motor Corporation
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1.2 Factors to be considered while formulating
strategic plan
The organization can define its strategy by using strategic
planning and also with decisions can be made to allocate its
resources in order to achieve this strategy.
In formulating these strategies the factors that need to be considered are
as follows-:
The industry – The overall industry is essential in case of strategic
planning.
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Setting the objective – The objective of this fashion brand is to
capture the global markets and increase the sales of the company.
Evaluating the environment of company- The company need to
examine both internal and external environment. With this
company will come to know about their strength and weakness
and also about the rivals.
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The competition – In order to formulate strategic planning the
analysis of competitors position is an essential factor.
Strength and weaknesses- In order to formulate strategic planning
SWOT analysis is crucial
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Diversities – The new products should be brought in the market
with innovative ideas .
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1.3 The key techniques available for the business
The two techniques can be used for this company and they are as
follows-:
BCG growth share matrix
Four types of situation is presented in this matrix that may be
faced by this comp-any.
The following four types of situations will be faced by this
clothing brand
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