...MNE3701 - ASSIGNMENT 2 UNIQUE NO: 873203 Jasmin David (Student No. 35536500) Question 1: 1.1 ) Selecting a good Business Location. There are 5 key factors in determining a good business location; Customer Accessibility is important in determining the location of the business. The business (retail outlet/service firms) needs to be situated where there is easy access. In companies where the cost of shipping or transporting of the finished good is high, consideration should be given to produce or manufacture goods closer to the consuming market due to the excessive transportation costs. Business Environmental conditions. There are several conditions to take into consideration, such as competition, crime, legal requirements, weather or climate which may create a need for other products or product testing conditions. Eg. Air conditioners, heated pools, specific security measures, etc. Resource Availability. For any operation to be efficient and sucessful there must be adequate resources available. Resources such as raw materials are not always available in all areas, therefore a business that deals with manufacturing these raw materials should be located close by. Also labour supply and availability and access to transport should be considered. Entrepreneur’s personal preferences. It is normally the entrepreneur’s personal preference and convenience that influences the decision making when locating a business. Entrepreneurs may choose a local site or location with which they are...
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...My business plan 1. Table of contents Main section Page Executive summary………………………………………………..2 Aims, objectives and vision……………………………………….3 Business description and purpose………………………………..3 Legal status and licences…………………………….…………….3 Management process……………………………………..………..4 Marketing plan and strategy………………………………………5 Sales targets and objectives……………………………….………6 Financial requirements and forecasts……………………..……6 Training needs…………………………………………...………….7 Business risks…………………………………………….………….7 PEST analysis……………………………………………….……….7 SWOT analysis………………………………………….……………8 2. Executive summary The business that I want to set up and run is a jewellery business, which will be called “Reiche”. It will be online based but I will also be supplying to other retailers that sell luxury fashion items. Reiche will have it own shop in central London precisely around Mayfair, because in the area, there are many different luxury shops, hotels, bars etc; and the area seems to attract many wealthy people. My jewellery business will also give customer opportunity to sell their unwanted gold at a fair price, to have their repairs and alteration done, as well as have custom design for their jewellery. We will also personal shopping and advice for clients with busy schedule. Reiche will start as sole trade, and as the business grows, it will become a company limited by shares. Reiche’s products will be stylish...
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...Tomorrow’s clothing retail: sectors, markets and routes – forecasts to 2016 2010 edition Page i Tomorrow’s clothing retail: sectors, markets and routes – forecasts to 2016 2010 edition By Malcolm Newbery and Karlynne ter Meulen June 2010 Published by Aroq Limited Seneca House Buntsford Park Road Bromsgrove Worcestershire B60 3DX United Kingdom Tel: +44 (0)1527 573 600 Fax: +44 (0)1527 577 423 Web: www.just-style.com Registered in England no: 4307068 © 2010 All content copyright Aroq Ltd. All rights reserved. Page ii Single-user licence edition This report is provided for individual use only. If you would like to share this report with your colleagues, please order additional copies or sign up for a multi-user licence by contacting: Chris Clarke Research manager, just-style.com Tel: +44 (0)1527 573 615 Email: chris.clarke@just-style.com Copyright statement © 2010 All content copyright Aroq Limited. All rights reserved. This publication, or any part of it, may not be copied, reproduced, stored in a retrieval system, or be transmitted in any form by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Aroq Limited. This report is the product of extensive research work. It is protected by copyright under the Copyright, Designs and Patents Act 1988. The authors of Aroq Limited’s research reports are drawn from a wide range of professional...
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...htm JFMM 8,4 ACADEMIC PAPER 362 Fashion change and fashion consumption: the chaotic perspective Ka Ming Law, Zhi-Ming Zhang and Chung-Sun Leung Institute of Textiles and Clothing, The Hong Kong Polytechnic University, Hunghom, Hong Kong Keywords Fashion, Consumers, Young adults, Social change Abstract Previous researches have considered that the impact of fashion change and fashion consumption is linear. Therefore, one reason was found as the ultimate source to explain why a fashion style/ trend was spread to the mass market. However, the existing market is complex and difficult to find out the holistic reason to explain fashion consumption. In this study, the chaotic perspective is taken into account to investigate the relationship between fashion change and fashion consumption. By using the grounded theory method, 33 in-depth interviews were conducted. A chaotic fashion consumption model is developed from the findings to explain how different fashions are consumed and rejected while fashion changes. It is found that the interaction of being fashionable, perceived fashionability and system participation affects the ultimate decision on fashion consumption. It is also found that a pattern can be traced to forecast the degree of fashion consumption even when the fashion change phenomenon is chaotic. Thus, it is similar to the principle of chaos theory that short-term prediction is possible in relation to the degree of fashion acceptance among consumers. Marketing implications...
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...LAB’S MODULE: FORECASTING In this exercise, you will learn how to create forecasts for a product group through SAP. SAP provides a complete set of forecasting tools that can be used in a number of sales and operations areas. The most flexible set of forecasting tools are provided in the Sales and Operations Planning (SOP) transaction. The flow of the forecasting flowchart can be seen below: [pic] 1: Create Product Group |Purpose of Exercise | |To assist with Sales Order Planning you firstly need to create a Product Group. Product groups (product families) support high-level | |planning. A product group combines other product groups and materials. | |Menu Path |Logistics ( Production ( SOP ( Product Group ( Create | |Trans Code | | The Create Product Group: Initial Screen appears. 1. Type KidBikeGrp### in the Product group field. 2. Type ### Sport & Fun Kid Bike Prod Grp in the Description field. 3. Type DL00 (Plant Dallas) in the Plant field. 4. Type ST (items) in the Base Unit field. 5. Check that Materials radio button has been selected. ...
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...M&S have a strong focus on consistent quality and high standards. They have been aware of technological factors and social changes within this market and have reacted in particular to the technological evolutions effectively, helping them to achieve one of their core competencies that is, quality. Driving forces in this industry proved difficult for M&S, globalization, the development of casual trends, and accelerating fashion cycles were major evolutions that became prevalent in the textile apparel industry, M&S were not reacting to these factors well and so they were becoming quite lost in their own market. Macro Economic Factors/PEST Analysis. Technological Issues The textile apparel industry is becoming to rely on technology for faster production systems and better quality products. We have seen that M&S have had a successful technological component to their organization, close co-operation with suppliers and the use of the latest technology has been the foundation for achieving the highest quality in their products. The fashion industry is going to keep evolving with the newest technology, it is vital that brands react to this macro-economic factor as it will be what may differentiate you from your competitors. Economical Issues A recession will have an enormous effect on M&S and this industry, along with their consumers. Costs will increase and prices will go down, leaving possible profits at a low. Consumer will have less disposable income...
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...H&M started to expand more into Europe. Next was Denmark, Switzerland, Germany and the United Kingdom. In 1976, the first store outside of Scandinavia was opened in London. In 1998, online shopping became available for H&M. The company did not expand outside of Europe until 2000, when it came to the U.S. Today there are over 400 stores in the U.S. alone. Worldwide there are over 3,700 stores in 61 different countries and it is the second largest global retailer. H&M specializes in “fast fashion”. Fast fashion is a term used by fashion retailers to express that designs move from the catwalk quickly in order to capture current fashion trends. Fast fashion clothing collections are based on the most recent fashion trends presented at in both the spring and the fall Fashion Weeks of every year. This clothing is made affordable so that mainstream consumers can enjoy it. H&M has a very strong understanding of its target market. Its market is looking for low priced high fashion. The company knows what mainstream consumers want. It has a strong following from women....
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...Question: In the Eyes of the Consumer, Brand is Far More Important than Price. Discuss this Statement in the Context of a Country of your Choice. Tutor Name: Katie Mulcahy Recently, the topic of brand and price which are important has become an intense debate. In some people's point of view, brand is far more important than price. Following this further, brand is a name or symbol of one company's product and it is connected with advertising, price and quality. Also, it will be the necessary one of the factors to consider when some people buy clothes. The famous advertising copywriter and ad agency founder Ogilvy, (2007) definition of a brand "The intangible sum of a product's attributes: its name, packaging, and price, its history, reputation and the way it's advertised". Which means the price is a part of the brand, exist a very close relationship between price and brand. The purpose of the essay is to discuss whether or not brand is more important than price when people buy clothes in China. To achieve this purpose, I will choose China to analyze customer shopping behavior, psychology through provide examples to support brand is more important in the first part, in the second part I will give views to analyses price also a necessary role and conclude in the end. However, this essay focuses on business and marketing so I cannot write more about psychology. With brands development, design style and visibility are more important than price especially...
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...CHAPTER I COMPANY DESCRIPTION 1.1 INTRODUCTION A fashion is a popular trend especially in style of dresses, ornaments and personality. Fashion is always changing, slightly elusive, and extremely seductive. It has the power to transform an image and make a social statement. Fashion statements can be made with clothes, accessories, shoes, hair, makeup, even your cell phone. It is important to know that fashion wear are very special part since it reflects our personality. One of the turning points in the evolution of early humans was the act of decorating the body. All known cultures embellish the body either with marks on the skin or clothing. Body adornment recognizes the individual as a person and communicates aspects of her/his personal and social identity. In the 21st century, fashion as body adornment is still a universal part of a person’s everyday experience. Yet, there is no agreed upon definition of fashion. Social scientists, philosophers and gender theorists present unique understandings of the complexities of the fashion system. Different people present unique understanding and complexity of the fashion system. Social class is just one element in the study of fashion in the 21st century, where gender, ethnicity, sexuality, and subculture affiliation play equally influential roles in the meaning production of dresses. Fashion is equally important to all those who are in the fashion industry profession as well as outside the industry. This research study...
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...List for: FASHION MARKETING, CONSUMER BEHAVIOR, FASHION VISUALS and other Fashion Courses. Material found in MasterFile Database (some fulltext), the Fashion Library and other OhioLink Libraries. ARTICLES Record: 1 Title: Wealth: Not At All What It Used To Be. Authors: Gellers, Stan Source: DNR: Daily News Record; 11/1/2004, Vol. 34 Issue 44, p14, 1/3p Document Type: Article Subject Terms: CLOTHING trade CONSUMER behavior CONSUMERS CONSUMERS' preferences LEISURE Abstract: Reports that Visa Signature Cards created the moniker New Affluent, a representation of the growing consumers for clothing trade. Characteristics of New Affluent customers; Financial status of New Affluent customers; Fascination of New Affluent customers with leisure and related activities. Full Text Word Count: 465 Accession Number: 15071351 Database: MasterFILE Premier Record: 2 Title: Having it all. Authors: Brooks, Amanda Source: Vogue; Nov2004, Vol. 194 Issue 11, p378, 4p Document Type: Article Subject Terms: CLOTHING trade CONSUMER behavior FASHION SHOPPING BROOKS, Amanda Abstract: Discusses the shopping behavior of Amanda Brooks, the creative director of Tuleh and Manhattan fashion muse on fashion items. Favorite inexpensive fashion stores; Preferred...
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...Social Media and the Fashion Industry Term Paper Table of Content 1. Why social media and fashion? 2. The newest social media trends 3. Fashion Blogging 4. Example Lookbook 5. Example Looklet 6. Impact on the fashion industry 7. Types of Fashion Blogs 8. Fashion Blogs around the world 9. The 10 best Fashion Bloggers 10. Haute Couture and Fashion Blogging 1. Why social media and fashion? In this time, the social media is an amazingly fast growing trend. Social media is not only used for creating friendship networks, for staying in touch with friends and family, it is becoming more and more a medium, which industries are using for growth and success. In this paper, the fashion industry is an example taken to show how e business is in relation with the social media and the fashion industry. Especially the fashion industry lives from ideas, from pictures, visuality and communication. Newest trends are created in minds, are brought down to papers, and photographed in pictures and are shared in magazines, newspapers – and fashion-blogs. The fashion industry has 1000 ways to go- to show its creativity and its world. Fashion lives from spreading ideas-which is exactly driven by the social media, by communication and the sharing of it. Fashion bloggers have become the newest wave of trend-settler, not only inspiring designers and stylist but also people all over the world. Fashion blogs are increasingly becoming a part of the...
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...their simple and attractive with high level quality of clothes. We will try two analyze working culture, business performance and history, competition and geographic dominance of two clothing retailer giants. Years before two small stores opened and they succeed to dominate market with their modern style and different business doing. • Zara has already changed the fashion industry. - Business Insider Zara is most #58 biggest brand in the world according to Forbes. • America's largest apparel retailer is embarking on a turnaround plan to recapture cool customers. - Business Insider Gap inc is #745 Gap biggest brand in the worlds according to Forbes Zara shops followed swiftly in New York in 1989, Paris in 1990. Now the group has nearly 3,900 stores in 70 countries around the world. Gap has 3,100 stores globally and employs about 150,000 people. A Gap spokeswoman declined to comment on the loss of the top spot to Zara. Let's check analyses of these two giants with full provided information. Firstly take brief tour to their history and about founders. Brief History of Brands Fashion giant, Zara, forms part of the retail group ‘Grupo Inditex’ which Mintel (2007) acknowledges as one of the “largest, fastest growing and successful” clothing retailers across Europe. Grupo Inditex is formulated by an amalgamation of major high street names from across Europe, including Zara, Pull and Bear and Bershka, in total boasting 3.825 stores across 68 countries...
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...Brazil Inside brazils booming fashion industry （http://www.businessoffashion.com/2010/08/inside-brazils-booming-fashion-industry.html） A Booming Economy Undeniably, the primary force driving the current surge in the Brazilian fashion market is a healthy macroeconomic context. Brazil’s economy has been expanding steadily for years, a result of a stable political and social climate and long-term reforms set in place by the current and previous government administrations. As much of the world slid into severe recession in late 2008, Brazil continued to expand. Indeed, according to Brazil’s national statistics agency, GDP grew a record 9 percent in the first quarter 0f 2010. National Optimism The robust economy has, in turn, fed the country’s self-confidence. Whether at São Paulo Fashion Week, in the streets, or in the nation’s shopping malls, there is a palpable optimism in the air: Brazil believes in itself. This hasn’t always been the case. When queried on the main factor behind her country’s current optimism, Erika Palomino, arguably the best-known fashion journalist in Brazil, pointed out that a new-found “self-esteem” is as important as the positive numbers: “Because we are a former colony, for a long time we didn’t believe in ourselves and always looked abroad, thinking other countries did things better. That has changed.” Indeed, winning bids to host both the 2014 World Cup and the 2016 Olympics have had a major impact in boosting the country’s sense of confidence...
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...Zara’s Fast Fashion Edge Arteixo is a small town in northwestern Spain near the Atlantic, surrounded by fishing villages. In its center, a glass building sits amid acres of green lawn. It’s the headquarters of Zara, the company that introduced the idea of fast fashion some two decades ago, then developed a highly centralized and often studied—but rarely duplicated—design, manufacturing, and distribution system. The building is officially known as the Cube. Those who work there think of it as the brain. The Cube is central command for a fashion empire built on an unconventional idea: speed and responsiveness are more important than cost. Zara is renowned for its ability to deliver new clothes to stores quickly and in small batches. Twice a week, at precise times, store managers order clothes, and twice a week, on schedule, new garments arrive. To achieve this, Zara controls more of its manufacturing than do most retailers: About half its clothes are made in Spain or nearby countries. For Zara, its supply chain is its competitive advantage. Zara’s expanding global reach could finally put its Iberian Peninsula-based ecosystem to the test. Spain has always been its biggest market. But in 2013, China surpassed France to become its second-largest in terms of the number of stores (142). Expansion in China offers challenges for every retailer. And it could put the Spanish clothier in a singular predicament, because Zara is a global company that doesn’t act locally. “The secret to their...
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...exclusive personal style services, which include a detailed Style Assessment, will ensure that our customers are well dressed. De Kliek is a woman-owned business currently organized as a Sole Proprietorship. * Clothing for stylish women * De Kliek will carry Ready-to-Wear (RTW) designer and casual/contemporary apparel & accessories for women, and will be the exclusive U.S. home of the German line, Herr Frau. In addition to the fabulous Herr Frau line, De Kliek will feature other choice selections by American and European designers such as Hocken, Weekend Maxine, Tosca and Catherine the Great. The De Kliek customer is a busy professional woman who lives in Los Angeles with a household income over $100K. She enjoys the boutique fashions and wants a place where she can go to get services that meet her busy lifestyle. * Unique & innovative * De Kliek will provide services such as Style Assessments, alterations, personal shopping, and special ordering to customers during store hours and by personal appointments. Style Concierges who are trained within the image industry will be available to customers on a daily basis. De Kliek's innovative Style Assessments and educational emphasis in helping women develop their personal styles will enhance our reputation as a truly unique boutique. * Getting the word out * De Kliek will generate awareness and sales by utilizing PR...
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