Sockon 1 Page Business Plan
Overview
Sockon Designs by Maribel has a clear business objective to develop, produce, promote and distribute Sock products. These products have been developed over 2 days with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our startup strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product in need. Whilst other existing competitor products have been useful for testing the customer problem, our new product designs are required to fully capitalise on our business potential. Our growth path is clearly oriented around the design of the new product and designs, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development, marketing, and distribution of these socks will have to be allowed for in our budget.
The Customer
Sockon Designs by Maribel has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as Style and Comfort. This is a critical issue for our selected target market of Young & Middle Age Adult Woman.
The Value Proposition
Sockon Designs by Maribel is uniquely positioned to deliver value to young & middle age adult woman. "Sockon Designs by Maribel will provide a product that is fresh, stylish, and comfortable." In order to deliver on this value proposition, we have to focus not only on delivering quality but also unique designs." There is a specific creative need we can fill. This capability will take considerable design time and quality material so both time and resources to develop such products forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Socks market. We consider our key competitors to sell online and through big box stores. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can break through the market and compete effectively with selling at mall kiosks and boutiques as our product is a specialty item to be available as a Quality product Made in the USA.
Key Strategies
Over the next 6 months our focus will be to Produce our brand and designs. We will then showcase in trade shows, connect with local boutiques, and consult with a Marketing and distribution Firm. This task will be undertaken in the context of our broader strategy to breakout our new product line. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: create a new Brand and define our Distribution plan & Marketing of our product.
About this document
Socks Business Plan
This document was created by Mp of Sockon using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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