Please respond to the writing below.
Minimum 300 words. APA format
Group: "Dream Team-works" Consulting
Group Activity Description: Violet is converting an empty warehouse into an upscale designer clothing store. Your team has been hired to assist Violet in launching her business. Your team has been tasked with providing recommendations to Violet in regards to management and marketing approaches.
We've decided that Violet is selling designer women's clothes in her upscale designer clothing store. Our consulting agency came up with the following ideas in regards to her marketing plan, management and how to execute the 4P's - Product, Place, Price and Promotion (Grewal and Levy, 2011).
Marketing Plan
Product
- Inventory should be very select yet comprehensive
- Only the highest quality apparel that is based on the most current and upcoming trends in fashion
- She is marketing upscale designer clothing - To justify the (presumably) expensive cost of the apparel, customer service must be superior
- Associates should be able to help shoppers accessorize and put together outfits
- Possibly hire a stylist if the payroll budget allows
- Access to tailoring service
- Customers need to hear about the brand.
- Target audience should be identified.
- Logo of the company is a must for any company to build its brand and also. Violet should hire a professional woman's stylist who can target female audience with the designs
Place
- Violet is selling upscale designer clothing so the establishment should reflect such a style. The back drop of the warehouse gives certain edginess but it should be offset by very luxurious decorations.
- Hire professional interior decorators
- When her customers enter the store, an eye-catching display up front, such as the stores' name or logo should be in bright lights or made with glitter or colored Swarovski crystals, that make them slow down. If there is no eye catcher, they may hurry on through the store and buy little.
"To create an appealing display, use a single color theme to grab attention and communicate your store's image. It's also important to avoid clutter because in retailing, space equals luxury. If you cram items together in a window, they'll look cheap," (Trice, 2012). In other words, less is moreJ.
Once these ideas are in place it does not mean the job is finished in regards to the layout. Violet would need to change displays regularly to give customers a fresh experience every time they shop. By doing so, this makes it fun and will make customers want to buy and come back.
- If the brick and mortar establishment does well, she may want to consider expanding her sales to an online platform
- Violet should set up an online shop to ensure E-commerce and to set up advertisements to be more visible
Price
- Customers are paying for the shopping experience in addition to having access to only the highest-quality merchandise. The prices need to reflect this yet they have to be reasonable as well.
- Visit comparable retail shops in the area to decide price points
- When establishing a price, it is vital in the company's success. Competition is kept in mind when the pricing is set and how much profit the company projects in short and long term
Promotion
- She is trying to sell luxury - so she should try to gain business recognition with a very high-class opening.
- Guest list:
- Advertise on select Facebook groups and Instagram Fashion-oriented groups
- Possibly have a local fashion blogger announce the event
- The actual event:
- The launch will be done with a very swanky cocktail party with champagne and appetizers.
- Hire a professional DJ and have stylists on hand to help guests try on merchandise in between mingling and cocktails
- Daily operations should offer buyers a similarly indulgent experience
- Attention should be paid to (flattering) lighting and music
Management:
- How many staff members will you need to hire and what type of skill set/personality would best suit her sales needs?
- Hire one person with experience in high-end retail sales (i.e. higher salary)
- Hire a professional stylist (or she could take courses herself)
- Have the experienced associate groom other entry-level employees
- Put up job ads at a local school for design and fashion (i.e. Art Institute of California)
- Provide her staff with an abundance of fashion magazines so they can properly advise customers on how to coordinate their wardrobes
- Analyze and adjust the clothing line as it is necessary to gage customer response and feedback. How well the business is doing, what are the areas which needs to be improved. In clothing line, customer trends change rapidly and it is very important that company put out new styles which attract customers and meet their demands.
- Register the store's name and brand legally. Consult with tax and financial specialists to organize the revenue and sales. (Nwazor, 2016).