Smugworld ltd 1 Page Business Plan
Overview
Smugworld ltd has a clear business objective to produce limited edition Clothing products. These products have been developed over 6 months with a core focus on addressing the key customer requirements from style, material, design and fit .
The Business Objectives
When as a key component of our growth 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 acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process to then increase profitability.
The Customer
Smugworld ltd 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 More colours and variety of current stock. This is a critical issue for our selected target market of Urban music culture.
The Value Proposition
Smugworld ltd is uniquely positioned to deliver value to Urban music culture. "Smugworld ltd will provide products/pieces which are lmited edition." In order to deliver on this value proposition, with each piece being limited edition means every customer owns a piece of history. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Clothing market. We consider our key competitors to be: Fresh ego kid
Cocaine & cognac
Bear swagger
Disizsick
Think zebra. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Fresh ego kid
Cocaine & cognac
Bear swagger
Disizsick
Think zebra by Not only do we stock our own brand/designs, we also design and stock other upcoming hat designers/brands. Also limited edition.
Key Strategies
Over the next 6 months our focus will be to Speak to local dance groups about group discounts on hats, help brand their group aswell as promoting smugworld. This task will be undertaken in the context of our broader strategy to Expand the range/collection with different colour hat combinations and sweatshirts. 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: Reach 100 sales online A shop TV advert
About this document
Clothing Business Plan
This document was created by Marvyn of Smugworld ltd using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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