Boutique Business Plan

Clothing has its own meaning in communication. We are being judged by our clothing every time we come in contact with someone. Human communication is accomplished by two ways, one third by words and the rest by nonverbal communication (Hickson, 1989). Clothes serve to be protection, social identification, sexual attraction, and many other services. Someone’s clothing can be different compared to others. Their clothing is based on their age, gender, occupation, personality, and values. According to William Thourlby, there are ten decisions that people around someone make based on their clothing along (Hickson, 1989). The ten decisions are:

The company must factor in that each of their customers has lifetime value, a greater value than a small gain made on first sales. With competition in their sector, more penetration pricing would be appropriate. The penetrating pricing strategy would only make sense to retain customers; the pricing strategy must realize lifetime value, (University of Phoenix, 2011).

The purpose of this business plan is to raise enough money to open and run a

Determine and discuss a pricing strategy (penetration or skimming). Determine and discuss pricing tactics (product line pricing, value pricing, differential pricing, or competing against private brands) to be used for your product. Identify any legal and ethical issues related to the pricing tactics. Prepare a marketing distribution channel analysis identifying the wholesaler, distributor, and retailer relationships. Discuss how the distribution strategy fits the product/service, target market, and overall marketing objectives for the company.

In this assignment, pricing strategy for backpack will be discussed. After estimation of product’s cost, demand and mark up, we have to decide an appropriate pricing strategy for setting a base price for our backpack (Lamb etal. 2016). The alternative strategies for the backpack which would be discussed is price skimming and penetration strategy. Firms benefit from price skimming from high profit margin, perceived high quality and attract customers when price lowered, while it’s more applicable with inelastic demand, also attract competitors and having difficulty in adjusting appropriate time to lower the price. Penetration strategy brought positive effects such as low input cost, and it is suitable for elastic demand product. However, might result bankruptcy if company unable to survive in the beginning, it require long period for returns and low price might be tagged with low quality. The chosen strategy for backpack is price skimming which might results better effect on our targeted segment because outdoor enthusiasts aimed at high quality.

Fashion has been a prominent aspect of a woman’s life throughout time. Women of different times and cultures have turned the routine of picking out clothes and putting together different ensembles into a sort of art, or a way to express and promote themselves. Many women also see fashion as part of their identity, or a way to manipulate the way people see them. What a woman wears can drastically change the way society views her - it can increase her chances of getting a job, or make her gain respect (or rejection) from her peers (Sika n.p.).

Clothing protects, decorates, describes and gives the first impression of a person. It acts as an external symbol of

Companies can choose many ways to set prices, skimming price strategy where a company sets a higher price than normal and a penetrating price where low initial price is set. “Pricing

“BEFOR I CAN TALK TO YOU, PEOPLE SHOW THEIR SEX, AGE, CALSS, POSITION, WITH WHAT THEY ARE WEARING. ALL THIS IS REGISTERED UNCONCIOSLY“ Those words said by Alison Lurie in the language of clothes (1992), reflect perfectly the main point of my research. The society we are now living is an extremely conscious society regarding body image and the way we are presented to the exterior. We found an obsessive trend on wanting to look like celebrities by having certain items or looks and in relation to that a fear of not being percepted the tight way. This is where we found relation to how clothes are part of a conversation we haven 't started and are a form of expression. As there will be explained further on, we use clothes as a sign of our identity,as a way of representing ourselves and stand out from the crowd and also influence on how we appear in front of others making them (clothes) a huge part of our non verbal communication. This essay will discuss the ideas behind self -expression and the role of clothes has changed in that mater thought time.

Pricing strategy can be defined as the strategy that aimed on finds the product best selling price to accomplish overall organizational objectives (Kurtz, 2012). Pricing strategic is directly related to product positioning. It is because the managers must consider how much the target market is willing to pay and cover back of the product cost. Therefore, Chatime has decided to lower its prices on milk tea to target on common people.

There are (3) reasons why I have chosen energy drinks as my NAB. First off, there is a growing market for energy drinks. Red Bull and Monster Beverage Corporation, together, form over 80% of domestic energy drinks volumes by estimates. Dollar sales for energy drinks grew almost 6% to $6.67 Billion in measured channels in 2013, which propelled sales growth for convenience stores (Team, 2014). A growing thirst for caffeinated “energy” drinks, which include the likes of Red Bull, Monster, and Rock star, has spurred a heart-thumping surge in sales. Globally, the energy drink industry has gone from a $3.8-billion business in 1999, to a $27.5-billion

The second pricing strategy is the penetration pricing where the product enters newly into the market. To gain some consumer base from the competitors, the seller initially charges a lower price than the competitors. For example the ticket prices initially charged for IPL, Indian Premier League, matches were lower than the ticket price of the competition ICL matches. On the contrary, price skimming strategy is to grab the financially top class of the market and to do this, the seller charges high prices. The effectiveness of this strategy is based upon

Ever since their invention many centuries ago, clothes have been used as a way of communicating. The message communicated relies on a number of factors including the social background of both the communicator and the receiver, and the context in which the message is communicated. Although at times the exact message or symbolism one is trying to portray may not be clear, it is evident that clothing has long been embraced as one of the best ways to project one’s desired personal image to those around them.

Today’s highly competitive business world forces companies to create different tactics and relatively rely on multiple pricing strategies to conduct business.

To gain knowledge of how we communicate to others through the way we dress, we have to first understand what identity is. Identity is what we choose to represent ourselves as, be that a gender identity, a sexual identity; it is completely up to the individual as a person to make that choice. Identity forms the basis of one’s pride and being accepted socially only adds to that ego and integrity. The psychology of the matter is the way we dress is more or less based on our moods, habits, inspirations, past, present and future. The character of a person is reflected in the way that they dress, Clothing can act as a simple glance into someone’s life, as we are already know that different clothing can represent different means of culture; Clothes are used a language to communicate with society and to commonly let them know what you want to be viewed as.