Fashion point Boutique Company
Fashion point Boutique Company is a start-up company that will deal with the best collections of all types of clothing and shoes for men and women. The shoe products for men will includes sports shoes, official leather shoes, and the latest sneakers. For ladies, foot wear will include ladies sandals, ladies open toe shoes, high heels, and closed toe flat shoes. The business will also provide customers with the latest and high-quality clothing. Clothes will include; the latest jeans, khaki trousers, T-shirts, official shirts, and jackets. The collection will also offer high-quality products that will meet customers’ needs. Moreover, the main goals of this enterprise are to meet the market size of approximately 80,000 people and market penetration of about 25% in the period of the first two and a half years. This paper will discuss the value of proposition, the vision and mission, feasibility analysis, and the business model of Fashion point Boutique Company.
Mission and Vision of the company
Mission statement
Fashion point Boutique Company’s mission is to offer a clear platform in which it aims to create awareness for community concern, welcoming customer service and reliability of high-quality products offered.
Vision Statement
The vision of Fashion point Boutique Company is to offer a high-quality recent fashion collection and create the best in the service provider in the entire country. (Aim at maintaining? Not too convincing?)The business will aim at maintaining crucial standards which will be a great pill for future success and establish a firm foundation for the enterprise. The standards include; teamwork, marketing skills, proactive initiator and integrity.
The value proposition of the company's products and services
(Indent)The value proposition is a very crucial part when evaluating a startup business since it provides answers to customers’ questions that meet their needs (Arvanitis, & Estevez,2018). This startup business will be in a position to offer customers high-quality products and free delivery services. This will reduce carriage and traveling costs incurred by the customers; therefore, it will make the company more unique from the rest of its competitors. Additionally, Fashion point Boutique Company will offer desirable collections at a discounted price. This service will benefit customers by allowing them to purchase the products at affordable prices, which are lower compared to other competing companies. Consequently, the business(Niche business - good idea!) is planning to provide a variety of clothes and shoes which are desired by clients but scarce in the market. This includes brand name sneaker type shoes in which some people consider to be of a high class standard from Nike and Adidas. In addition, the company with its executive board will create policies(What types of policies?) that will enhance relationships between employees and customers.
Business model
(Indent)The business model consists of various sections that correspond to very critical operations of the business. These sections include (i) target market, which gives information on the product that mainly serves the customer requirements; (ii) business process, which indicates all the procedures and operations of the business to deliver value to the customers. It includes distribution and movement of products to target audience; (iii) strategic positioning, which explains how the business is positioned in the market relative to other competing companies and factors considered in providing unique operations that have an advantage in the market.
(New paragraph? Indent.)Furthermore, the startup company employs the sharing economy business model to facilitate sharing, as well as scaling the business much more quickly while also offering value in the form of sustainability. This model provides benefits both to the company and the customers because it minimizes waste of resources and includes co-operatives, co-creation, recycling, and re-distribution of goods (Bocken, de Pauw, Bakker, & van der Grinten, 2016). Moreover, they also allow items to be consumed by multiple persons. Since the (This is confusing? What does all this mean?)model has various associated risks, the company will make sure it executes the process effectively and protect its customers’ privacy and safety.
Feasibility analysis
Technical feasibility analysis
Fashion point Boutique Company will conduct a feasibility study in order to investigate various tools of the business project. This is a very critical area of study that will require the executive board of the company to plan before undertaking any business plan. The company will conduct a market feasibility study before entering the target market in order to invent true potentiality of a business opportunity in the market. Proposed business will conduct analysis using data in various steps which are;
a) Evaluation of system and technological requirement
In this step, the company will establish issues related to availability(This information in this paragraph is vague and needs much more detail. What type of analysis? What will you be looking for?) and quality source of data, data processing methods and analysis, and also software used in the project.
b) Evaluation of legal requirements
This will be the rules of publishing products to be(I don't understand this statement? What are rules of publishing products to be dealt with in market using data?) dealt with in the market using data, soft wares, and method. It will indicate that information stored in a metadata(???) or company website will be published.
c) Evaluation of economic requirements
In this analysis, it will consist of the price of data(Again, this section is very confusing. I don't know what you mean here?) and softwares purchased by the company and the cost of employment to various activities that will be undertaken.
d) Time schedule requirement
This analysis step will describe the time taken to complete various procurement tasks and data processing.
Alternative analysis
(Inconsistemnt indentation.)In this scenario, the company will evaluate alternatives after discussing various issues. The analysis will help to fetch new ideas(fetch new ideas?) in a wider view. The participant during this analysis will discuss alternatives to the proposed ideas and give different suggestions(Confusing sentence.)which can possibly work better. Additionally, the company will establish possible pathways that will help in future operations.( Such as??) This will also help to identify any limitations or challenges that might occur in the future and how they can be resolved.
Market assessment
In this phase, the analysis will establish if the market is ready for the idea. The method can be done through market research of data collection like the use of a questionnaire concerning the targeted market. To earn a high revenue, the Fashion point Boutique will examine if the collection will experience market success. This will be achieved by estimating the product demand to calculate probable market share. To complete this analysis,( Market assessment needs much more detail.) the company will identify the existing competitors and potential customers in order to have information on probable project sales revenue in a period of at least three years (Ghezzi, & Cavallo, 2018). Depending on the demand in the market, the company will target potential customers with new or existing product.
Economic feasibility
The company will discuss and confirm if the rate of return on the product will be sufficient to earn maximum profit. This is the phase of analysis in which the business will determine whether the proposed company will earn sufficient profit, and a margin for future expansion. Moreover, the analysis will help to determine if the proposed company will proceed with the idea.
The mission and vision statement of the startup company is important because it defines the business, products or services, and customers, as well as allowing the organization to differentiate itself from its competitors. Consequently, the business model and value of proposition are essentials in this startup business; it scales the business more quickly and enhances the utilization of resources. Furthermore, the company conducted feasibility in five(You said 5 areas and only listed 4?) different areas, which includes: Alternative feasibility, economic feasibility, market assessment, and technical feasibility.
References
Arvanitis, S., & Estevez, L. (2018). Feasibility Analysis and Study. In The Emerald Handbook of Entrepreneurship in Tourism, Travel, and Hospitality: Skills for Successful Ventures (pp. 109-129). Emerald Publishing Limited.
Bocken, N. M., de Pauw, I., Bakker, C., & van der Grinten, B. (2016). Product design and business model strategies for a circular economy. Journal of Industrial and Production Engineering, 33(5), 308-320.
Ghezzi, A., & Cavallo, A. (2018). Agile business model innovation in digital entrepreneurship: lean startup approaches. Journal of Business Research.
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