Carmen r chantelle r dara h kelly r kolby r
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Carmen R. Chantelle R. Dara H. Kelly R. Kolby R. Self Analysis. Personal Strength & Training Education, experience in retail, vision for company Weaknesses Lack of capital resources, inexperience in running a business, and brand identity in community Proposed Growth Strategy

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Carmen R. Chantelle R. Dara H. Kelly R. Kolby R.

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Carmen R.

Chantelle R.

Dara H.

Kelly R.

Kolby R.


Self Analysis

  • Personal Strength & Training

    • Education, experience in retail, vision for company

  • Weaknesses

  • Lack of capital resources, inexperience in running a business, and brand identity in community

  • Proposed Growth Strategy

  • Attend trade shows

  • Establish a training program to enhance leadership and interpersonal communication skills

  • Establish quarterly, semi-annual, and annual benchmarks to monitor performance


  • The SkinnyLocation

    • Business Location- Apx/ Vivint building

      • Central shopping district

      • Destination store

      • Retail and apparel

      • Benefits to Location

      • Visibility

      • Parking

      • Large window displays

      • Excellent pedestrian & vehicular flow (convenient entry)

      • Proximity to other key locations, (Taco Bell, Banks, etc.)


    Trading Area Analysis

    • Competitors Business Locations

      • Maurice's

      • Circle of Love

      • Down East Outfitters

      • Panache

      • Ferrell’s Clothing

      • Kmart

      • Bealls

    http://maps.google.com/


    Competitors

    • Wal-Mart

    • Kmart

    • Panache

    • Mila Couture

    • Lulu Bella’s

    • Maurice’s

    • Downeast Outfitters

    • Bealls

    • Ferrell’s


    Competitors


    The Skinny

    Strengths

    Weaknesses

    • Location

    • Building size

    • Fashion and Selection

    • Atmosphere

    • Not the lowest price point in town

    • New retailer

    • Have to coordinate café and clothing store


    TheSkinny

    Opportunities

    Threats

    • Gain loyal consumer base

    • Potential opportunities for expansion

    • Opportunities for growth

    • Low disposable income

    • Not gaining market segment

    • Losing consumers to Idaho Falls


    Business Registration & Requirements

    • Limited Liability Company

      • Management flexibility

      • Pass through taxation

      • Must register with the secretary of state by submitting its Articles o Organization and pay $100 fee

    • Must register with the City of Rexburg and pay $20

    • Percentage Lease

      • Reduce monthly rent

      • Total cost depends on productivity

      • Avoid upfront costs of purchasing building


    Market Segment Analysis

    • 2010 PRIZM segmentation system definition:

      • The Skinny’s target market consists of low-mid income young and middle aged individuals and families who value fashion, sports, and lifestyles centered on cars, sports, dating, and family relationships

    • Target Consumer

      • Women ages 18-35

      • Low-middle income

      • College and new nesters

      • Mormon

      • Modest and conservative styles

      • Work in the service industry with relatively normal schedules


    Layout of the Store


    Layout


    Café Layout


    Logo


    Merchandising

    • Basic Overview

      • Mid Priced

      • Wide & Shallow selection

      • Men, Women, & Children Clothing & Accessories

      • 61% Markup

    • High Turnover


    Merchandising

    • What The Skinny offers:

      • 30-day money back returns

      • After 30-day in store credit exchange

      • Layaway program(30% paid up front)

      • Gift wrapping


    Merchandising

    • Buying Procedures

      • Acting manager trained as buyer

      • Dealing directly with wholesaler

      • Working exclusively with one wholesaler

      • Benefits of Wholesaler

      • same day shipping

      • guaranteed to arrive in 5 business days


    MerchandisingProducts


    MerchandisingProducts


    MerchandisingProducts


    MerchandisingProducts


    MerchandisingProducts


    MerchandisingProducts


    MerchandisingProducts


    SALES AND PROMOTIONS


    Salespeople

    • Essential to our store and ready to respond to customer’s “needs.”

    • Their characteristics:

    • Be a people person.

    • Be flexible.

    • Be decisive.

    • Have analytical skills.

    • Have stamina.

    • LOVE fashion.

    • Young and very fashionable.

    • Wear black attire or The Skinny’sclothing.


    Types of Selling

    • Personal selling thought out The Skinny. The percentage of personal selling is 100%.

    • The Skinny total employees is 10 including the founders.

    • The Skinnywill have a manager and 3 employees each turn.

    • The store schedule:

    • Monday - Thursday 10am - 9pm.

    • Friday & Saturday 10am – 10pm.

    • Sundays closed.


    Customer service

    • “Happy Clients” is The Skinny’smotto.

    • Excellent Customer Service is the manager’s main job.

    • All the returns will be executed in the cashiers.

    • The Skinny’swebsite 24/7 inquiries service with 24 hours answer period.

    • The Skinny’swill not incur in extra costs for this service.


    Promotional Activities

    • Tie merchandise by dressing mannequins in trendy fashions.

    • The Skinny’s coupons for next time purchases.

    • Price discrimination for BYUI students, senior citizens, and employees discount.

    • Summer & Winter Sales to sell slow-moving and end-of-season merchandise.

    • Before classes start clearance to refresh inventory.


    CONCLUSION

    Success!!!!


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