Korra Dancewear Group 1

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KORRA DACEWEAR BU362 Building and Managing Products Section C Group 1 Gursahej Brar Thomas Fox Mingwei Sun Sihong Yan Feb 22nd 2015 Table of contents Executive Summary ...................................................................................................................................... 2 Problem/Opportunity .................................................................................................................................. 3 Internal Analysis .......................................................................................................................................... 4 External Analysis…show more content…
The upgraded marketing strategy will also enable Korra Dancewear to achieve their revenue goals more efficiently, as they can get an increase in sales quantity from both retail stores and online stores. 2 Problem/Opportunity Korra Dancewear is facing several serious issues that are impacting the performance of the company. First of all, the company is unable to generate a sufficient amount of sales. The company is now three years old and has only sold $1,500 worth of inventory. This problem stems from two main factors, lack of awareness of the company’s products due to limited marketing and selling products only through one distribution channel. Korra Dancewear is not undertaking any effective promotional activities, such as offering any discounts to customers. Currently, it only has one Facebook page with 62 “Likes” and a twitter page with 64 Twitter followers. Furthermore, the company has only one distribution channel, which is via their website. If products are offered in retail stores, then the company is directly competing with their competitors and it increases the reputation for selling quality dancewear apparel. This will have a positive impact on the inventory sold by the company. However, it is costly, since the major dancewear apparel stores in the GTA require a 50 percent markup on all apparel and it would be difficult to compete for shelf

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