Clothing Store Marketing Plan Executive Summary
The processes involved in starting a business are numerous. One factor which always remains constant is planning. Every stage of starting a business requires adequate planning. Therefore, it becomes necessary to know what type of planning to have in place. A clothing store marketing plan executive summary is one of such planning to have. Any established business will require effective marketing to thrive. It now depends on how efficient this process is carried out. The executive summary of the marketing plan is a very important section for investors and financial institutions.
No matter how effective a service is or how high the quality of its products may be, without a marketing plan, there would be little or no growth. The marketing plan executive summary is required by any investor as it gives him/her an idea of what is contained in the marketing plan. The executive summary is highly important to get this critical funding as the reader can either be encouraged to get into the details contained in the main marketing plan or may be discouraged which may lead to losing the funding.
Exquisite Collections is a clothing store business that has a variety of clothing for everyone from men’s clothing, women’s clothing and clothing for kids. It also sells a wide collection of footwear for adults, kids, and infants. At Exquisite Collections, there is always something for everyone. Located in the heart of Georgia, Exquisite Collections has been in the business of providing quality clothing for the household, for corporate functions as well as for special events like weddings and other ceremonies. Whatever the occasion, Exquisite Collections is equal to the task as we take care of all your clothing needs.
Apart from the above services, it also offers fashion tips as value added services. Located at Georgia’s CBD (Central Business District), Exquisite Collections offer clothes for all classes of society. With a healthy level of patronage obtained from its quality services and products which it has provided over the years, Exquisite Collections seeks to expand its services to cover more locations in the city of Georgia and beyond. To make this possible, we seek to attract funding to the tune of $1,000,000.00.
Our growth plan will be gradual as we seek to open 5 more clothing stores in Georgia in the short term and 7 more stores in other major cities which include Columbus, Savannah, and Athens.
The garment industry has witnessed a lot of growth and innovation and has evolved into an industry where there are major apparel retailers who are major players in this industry as well as the smaller retailers. It is necessary to state that the major players in the industry who consist mainly of the major apparel retailers have an edge over the smaller businesses, consisting mainly of smaller retailers. This is because the larger businesses have the advantage of better pricing from suppliers which allows for wider profit margins. This does not apply to the smaller businesses as the reverse is the case thereby allowing for narrow or tight profit margins.
At Exquisite Collections, we are poised to raise the standards and quality of our services through the provision of unbeatable clothing services to a wide range of clients consisting of celebrities, as well as the ordinary client. An area of competitive advantage we have is the relationships we have with our suppliers who offer us highly attractive deals where we get to benefit from a wider profit margin. Our strategic location also gives us an edge as we are currently the most patronized clothing store. Our collection of popular clothing brands makes us a choice destination for many shoppers.
We have a variety of marketing strategies we will be adopting in ensuring that we improve our current level of patronage. Because we have a profit margin which is quite wide, we can afford to offer our products at cheaper rates than those sold by our competitors. Another marketing strategy we will be adopting includes using the internet as a veritable tool in pushing sales. While operating a physical store, we will also have an online store where customers get to have the choice of either purchasing online or coming over to our store. Purchases made online will be delivered straight to our client’s location.
The social media is another avenue to market our business as we will use this medium to spread the word about our products and services. There will also be paid TV, radio and print media Ads in addition to the mounting of billboards at strategic locations.
With the current trend in the garment industry, we have used available data to draw up a 3-year financial projection plan where investments made in critical areas such as expansions to new locations will result in healthy growths which are represented in the chart below;
- First Year $500,000.00
- Second Year $800,000.00
- Third Year $1,200,000.00
With this clothing store marketing plan executive summary, the reader is able to get an idea of what is contained in the marketing plan as it highlights the key components of the marketing plan. It is necessary to give this section all the attention it deserves as anything short of this will result in a shabby executive summary. This is not only applicable to a clothing store business alone as other businesses also require the same approach.
- Clothing Line Marketing Plan Executive Summary
- Marketing Plan Executive Summary
- Woolworths Marketing Plan Executive Summary
- Bakery Marketing Plan Executive Summary
- Digital Marketing Plan Executive Summary