Management And Business Contexts Fashion †Myassignmenthelp.Com

Question: Discuss About The Management And Business Contexts Fashion? Answer: Introduction: Fashion and Trend is a new apparel store that would provide Australian community western wear accessories and apparel and will be positioning itself as the top retail boutique providing service in particular market. The objective of opening boutique is to create a shopping environment that caters to apparel needs of urban Australian women and girls in Brisbane, Queensland. The mission of organization is to offer name brand and quality western wear in an assortment of styles and sizes for accommodating varying shapes and styles of body. Conducting market research has lead to come up with facts that would lead to success of store if few points are taken into consideration. The target base of Brisbane should be provided with an assortment of sizes for fitting ample base. Store is required to attract target customer base by advertising and promoting its products (Chatzoudes et al, 2015). Organizational structure for Boutique clothing store: Since Boutique store is a start up business, it has a simple organizational structure. Decisions are taken in line with the objectives of stores. Level of strength, weakness, expertise and objectives forms the basis of delegation of tasks to employees. Miller Jackson will be acting as general manger of store. He is the general manager and co owner who would be responsible for all the purchasing, inventories, administrative and promotion function. The management team of organization involves only co owner and its owner. General manner will acting as part time representative for sales. Jackson has an extensive experience marketing, purchasing and inventory control. He has also experience in operations and accounts department for over eight years. The personnel plan of boutique store would comprise of two full time employees and tow part time employees working 20 to 25 hours per week. All the employees within the store are encouraged to be at their physical, creative and intellectual be st. The essential source of success of business is providing customers with high degree of service by equipping employees with skills and creative personality (Dumas et al., 2014). In every six months, the performance of employees will be evaluated and assessed based on their level of productivity. External and internal environmental forces impacting the boutique store: Some of the external factors impacting the store can be listed down as below: Economic factors- The Boutique clothing store is highly impacted by the economic factors. Sales of products of clothing store are impacted by economic factors and they would be required to sell their product at reduced price during the recession period (Wheelen et al., 2017). There would be impact on profits generated by store due to economic factors. Political and legal factors- various legal and political factors impacts the clothing industry such as labour laws and workers right. Production of store is impacted by workers picketing their clothing employers. Profit and sales of small retail clothing store is also affected if organization pick pocket retailer and they are known violating child labour laws (Sadgrove, 2016). Technological factors- Demand, resources and production are the factors concerning technology affecting the clothing stores. Small clothing stores are required to keep themselves updated with new fashion trends for acquiring market share. Competitors- Fashion and Trend boutique will be facing competition from Xenia and Calexico, Samantha Ogilvie boutique store. There are many small run family retail boutique stores selling majority of Western wear apparel and as per the market research and statistics, 75% of western apparel is derived from these locations (Harmon, 2015). The brand identity of fashion and trend store would be build by various factors that will help in building loyal customer base and adding value to merchandise. A sense of bonding and culture will be created by offering products and showcasing luxury women wear. Customer factors- Demographic, lifestyles, norms, culture and change in population are some of the macro environmental factors impacting the success of stores. Internal environment impacting boutique stores: Strength- The growing base of customers, understanding clothing industry and intending to provide customers with unique shopping experience are some of fashion and trends strengths. Weakness- Fashion and Trend is a niche market despite the market is large. Opportunity- Growing retail business of clothing stores and there can be repeat business by providing outstanding shopping experience. Threats- New boutique stores that can be opened in future and threats from existing stores are threats. Effectiveness and cost of marketing for women is another threat. Risks confronting the boutique store: The targeted customers are exposed with wide array of cutting edge accessories and products by staring the clothing boutique stores. There are industry wide risks associated with staring a clothing store. Some of the risks confronting the clothing store are as follows: Trend analysis- Assessment of trend is the major risks associated with opening clothing boutique store. Some of the trends in fashion and clothing industry are ever changing, fickle and vague. There can be confused brand entity and undetermined credibility if any misstep is taken by start up (Fadun, 2013). Marketing- Marketing strategies incur high amount of risks for the clothing stores. In addition o this, it is essential for the brand to adopt itself to the changing market conditions. It is essential for business to target the audience by matching to the demographic. Management of inventory- It is required by owner of clothing store to have adequate supply of clothes available in different colour and sizes. On other hand, steep losses might be incurred by business by acquiring excessive inventories and selling them at discount prices. It would also result in excessive storage costs (Ebert et al., 2014). Furthermore, there are risks associated with buying at full price by such boutiques. Landscape of business- Considerable amount of risks posed to the owner of clothing business due to its very nature. It is required by the personnel and staffs of clothing business to perform host of side tasks and working late hours in weekend. Business practices enhancing the organizational performance: A narrow target market is generally served by clothing boutique stores. It is important for boutiques to recognize the importance of marketing strategy and incorporate the same into their business practice. The promotion of retail business is done by adopting the target market campaign, local media coverage and direct marketing campaign. The business practice is also involving combination with downtown merchants and chamber of commerce. Another business practice is following general fashion trends regarding the preferences of customers and meeting the needs of clients by tailoring their inventories. The speciality of the store would be to focus on colour, styles that are fit to flatter baby boomer of females. The main staple of store will be apparel such as formal wear, business wear, clothing wear along with accessories and this will help in segmenting the market and thereby gaining the particular segments and acquiring market share. The performance of organization would be enhanced by expanding and enhancing the product lines that will help in building the business. It will enable in providing customer friendly shopping experience as more and more customers are looking for change (Jeston Nelis, 2014). This would enhance the performance of organization by grapping the leading customers and market acquisition. The core business practice is to have the combination of knowledgeable and exceptional customer service having merchandise style with quality. There would be figure flattering for women by offering customers with wide fashionable clothes. It will assist store in building a brand name that will be similar with the revolution of fashion industry. Important functions of boutique store and relating to its performance: Fashion and trend boutique will work closely with the manufacturers for utilizing line sheets and product catalogs. The products will be placed while weekly and monthly reorders and by reviewing new products. Store intends to provide feminine and classic styles at its best The shipment and deliveries of store will be handled by some intermediaries that would ensure smooth supply of the products offered. There will be a maintenance of detailed records of the all the customer, their size and purchase records, in house promotional purchase and brand for customer follow up The shipment and deliveries of store will be handled by some intermediaries that would ensure smooth supply of the products offered (Fleischmann et al., 2014). It is essential for store to enhance the creative as well as business side. Development of forward and creative style is the most important function of business. Another function is to educate the target customers about big ticket items available in the market and sold by the store. The value provided has to be self evident that would be experienced by customers by feeling it and wearing it. This would enhance the sale made by business and thereby lifting its profit. Conclusion: From the above analysis of external and internal business environment, it can be said that Fashion and Trends has ample business opportunities if they are able to align their business objectives with marketing strategy. The target market should be accessed by following proper marketing strategies. Various functions of store are designed for achieving the performance of organization. Reference: Chatzoudes, D., Chatzoglou, P., Vraimaki, E. (2015). The central role of knowledge management in business operations: Developing a new conceptual framework. Business Process Management Journal, 21(5), 1117-1139. Dumas, M., La Rosa, M., Mendling, J., Reijers, H. A. (2013). Fundamentals of business process management (Vol. 1, p. 2). Heidelberg: Springer. Ebert, R. J., Griffin, R. W., Starke, F. A., Dracopoulos, G. (2014). Business essentials. Pearson Education Canada. Fadun, O. S. (2013). Risk management and risk management failure: Lessons for business enterprises. 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