Capstone
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Mode Classique will be a high-end women's and men's boutique in Midland, Michigan. It will be owned and operated as a 50/50 partnership. The boutique will carry designer brands and offer excellent customer service. It will position itself as the only high-end clothing store in the area. The target market will be males and females aged 20-55 with higher incomes. Promotional strategies will include social media, local events, and print advertising. The boutique will be located in a two-story building next to the mall. It will include a coffee bar, visual merchandising, and support local philanthropy organizations. Technology such as a POS system and RFIDs will be used.
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Capstone
- 2. Overview Mission Statement Legal Business Description Staffing Plan Customer Service Designer Product Other Merchandise Pricing Strategy SWOT Analysis Positioning Map Target Market Promotional Strategies Location Exterior Visual Merchandising Philanthropy Technology
- 3. Mission Statement Not only to become a better influence in the lives of others, but also to help people achieve what they are capable of achieving.
- 4. Legal Business Description Partnership 50/50 Partner with Capital Michigan Angel Fund Loan Fashion Knowledge Never ran a Business
- 5. Staffing Plan Owner/ General Manager Assistant Manager Visual Merchandiser Cashier/Sales Representative Human Resources Manager Accountant Follow Chain of Command Communication is Key Job Description Skills and Qualifications
- 6. Customer Service Policies Returns and Exchanges Customer Complaints Privacy Policies Discounts and Promotions Stocking Payment Policies
- 7. Designer Product Spring 2015 Against the Grain $30 Pattern Works Different Fabrics Available
- 9. Other Merchandise Stella McCartney Valentino- Red Donna Karan Michael Kors Tory Burch Oscar De La Renta Dolce and Gabbana
- 10. Pricing Strategy 50% Markup Similar Price? Similar Price to Competitors End Price in 9 No Punctuation
- 11. SWOT Analysis Opportunities • Room for growth. • If popularity increases, create a website. • Targeting customers- fashion cautious groups. • Brand expansion if clothing sells. • Increase in Men’s clothing brands. • Charity works provides opportunities to reach more people that would not shop here. • State expansion if successful. • Use of “real” models. Threats • Midland is a thriving area, potential competitors may open up. • Potentially could be bad to only carry items in one of each size. • Accessibility to online retailers like Nordstrom’s, Bloomingdale’s, etc. • Set Mode Classique apart from these big name retailers. • More loyalty and awareness of these big retailers. • Hard to convert customers to a small boutique. • People in Midland don’t like change. Strengths • Only high-end store in the area. • Industry Expertise. • Personalized to your needs and wants. (Portfolios) • High quality clothing. • Wide range of clothing. • Organized Store. • Excellent Customer Service. • Mini coffee bar. • Variety of brands. • Charity work. • Uniqueness and Exclusivity. Weaknesses • Midland is a hard community to get approved for business. • Difficult to manage all the lines of products, inventory, and small number of staff. • Customer Service may be difficult during busy times because of few workers. • Leading to poor store presentation if not enough help. • Quality and price range will only be appealing with those customers that have money to spend. • No website.
- 12. Positioning Map
- 13. Target Market Geographics Demographics Psychographics Behavioristic Male and Female Aged 20-55 Higher Income ($65,000+)
- 14. Promotional Strategies Social Media Radio DOW Northwood University Local Events Midland Bureau Print Advertising Grand Opening Holidays Public Relations
- 15. Location 815 Joe Mann Blvd. Midland, MI Next to the mall Land $550,000 Two Story Building
- 16. Exterior Design
- 18. Interior Design
- 19. The Bar
- 20. Floor Layout- First Floor
- 21. Floor Layout- Second Floor
- 22. Philanthropy Against the Grain Educating and Empowering women, men, and children with a poor history. American Cancer Society Collaborating with cancer related organizations throughout the world to find a cure.
- 23. Technology/ Bookkeeping Accountant POS System RFIDs Floor Ready Sign Producer
- 24. In Conclusion “Elegance is when the inside is as beautiful as the outside.”