Assignment: Prin of Management
Imagine that you are a member of management at a successful high-end adult clothing and accessories retailer that is considering launching an exclusive line of high-end children's clothing. This is a new venture for your company, which has until now been focused completely on the adult market. Before committing resources to fully developing a plan for the proposed children's clothing line, you have called for research that will help you better understand your potential customers as well as the competitive environment.
In an essay:
1. Describe the issues that the research should explore. What would you want to know about potential customers and the competitive environment?
2. Explain why this information would be needed before you develop a plan for the proposed line of high-end children's clothing. How would this information be used to make better decisions?