Strategic Plan of Sibany's Boutique

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Sibany’s Boutique strategic plan Executive summary The primary task with the launch of Sibany’s Boutique is to achieve market penetration. Research has demonstrated that shoppers who frequent boutiques fall into several age categories. They tend to be age 24 and under, 24 to 50, and 50 and above. They tend to be trendy and fashion conscious (Thilmany, 2008). They also expect to pay more for their items than they would for more common merchandise offered by general clothing retailers. After market penetration has been achieved, the next step is to develop the market into a sustainable client base. Retail format development plays a key role in the ability to penetrate the market and develop a sustainable client base. Although boutique customers can be divided into three separate age groups, a successful strategy surrounds the development of a niche market centered on one of the three age group categories. Targeting all three categories will result in a store that is unfocused and that does not appeal to any of the age groups completely (Gordon, 2002). Sibany’s has chosen to cater to the 24 to 50 year old market with their clothing line. General trends in the clothing industry have shown that the robustness of the economy is directly linked to clothing purchases. The 24 to 50 age group is more likely to be financially able to purchase higher priced clothing than those who are younger, or those who are older and on a fixed income. Catering to the 24 to 50 year old
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