Purpose of the plan- The main purpose of the plan is to deliberate the information of business to the centre management of the shopping centre, so that a store could be opened in the vacant place.
Business Goals, objectives and strategies- The main goal of the business is: “To run a profitable store”. The objectives of the business are enhancement of sales volume and delivering satisfaction to the customer. The strategies of business are concentration on requirements of customers, client satisfaction and creating awareness about brand.
Product description- The Cotton Curio manufactures its textile items by using cotton fabrics. As the cotton fabric provides comfort ability and is easy to handle. The designs of the dresses are according to the trends. “These dresses are essential for your wardrobes”.
Benefits to the shopping centre- By the opening of- The Cotton Curio, several benefits will be availed by the shopping centre, as increase in the number of customers will lead to enhancement of profit. This in turn will benefit the shopping centre and the recognition of the centre will be boosted and because of the enhancement of profits, there will be no delay in payment of rent of the store.
The Cotton Curio provides female merchandise manufactured by cotton fabrics. The products are of high quality which is one of the strengths for the store, as customers prefer to purchase quality products. However, the store is new for the society as only few stores are established in the town. Hence, it is not much popular which one of the weaknesses of the store is. Beside this, store has threat from the other merchandise stores which are at the shopping centre. Although Cotton Curio can grasp the opportunity of establishing more stores in the town, this will enhance the popularity of the store and increment in the customers.
Operational strategies- The operational strategies of the business are:
Customer driven strategy- Operational strategy will lay emphasis on the needs and preferences of the customers. As the customers are the base of the business, strategy will focus on providing value to customer and make them satisfied by fulfilling their needs.
Core competencies- There is huge competition in the merchandise business. There are a large number of stores who sell female merchandises. Relationships will be developed with eth customers, so that their preferences and needs could be assessed and the product could be developed according to their demand.
Financial strategies- The cash flow of the store for the year 2017 to year 2918 is given below. This statement encloses the management of the cash. Expenses will be incurred on various activities such as- purchasing of new furniture, purchasing of material and machines for manufacturing of merchandise, expenses on renovation and of store etc.
Staffing requirements: The manager will manage the store and three employees will be hired to perform routine operations, such as- dealing with customers and providing services to the customers.
Forecasting: Time series forecasting technique will be done to forecast the demands of the customers. Data about the fashion trends will be analysed and then the demand of the customers will be forecasted. This will facilitate in evaluating the requirements and demands if the customers and then merchandise would be designed subsequently. Demands of the customers change according to the season or trends in fashion. This technique will be helpful in assessing the trends and demands of customers.
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