Overview
For our Business of online designer baby wear, we have researched our target market of matured aged mums and grandmothers. We realised there was a significant amount of competition within the online shopping industry therefore we decided to individualise ourselves and sell designer baby wear where we found only few competition. We thought that if we had increased our prices a little bit then we would have mothers from high class suburbs wanting to purchase our items. Our research concluded that there are now mothers to be who decide to have children later on in life due to having a lengthy career first, therefore we thought more mature designer baby wear would be the way to go. As our target market are believed to have worked before hand then they would have enough money to spend on our range. We believe this Business will provide us with enough revenue due to the reasons of above. We won’t need to spend a lot of money on staff as there will just be a few maintenance staff and ourselves. However to be able to promote and advertise our site then we will need a celebrity or a well known figure to be able to demonstrate to viewers that our site is up and running and they would purchase our items. There is some careful consideration that needs to be done when it comes to the budget, enabling funds for a warehouse, storage, brands and postage. As we are a designer baby wear store, we need to allow extra money to purchase more expensive clothing in order for our site to be successful. We found a few businesses who will impose competition to our site, we have analysed in our S.W.O.T section how to evade these competition and differ ourselves from them. Overall we have designed a business for a specific target market that we will enjoy involving ourselves in and that will generate significant amount of revenue for our team.
Mindmap
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File Size: | 460 kb |
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