Analysis Report of Weaven Business Plan
Question
Task:Your Business plan should have a contents page, an executive summary, a reference page and appendices (to include any supporting information).
The word limit is 3000 words excluding a Contents page, Executive Summary, Appendices and a References page. Please indicate which information is taken from your Opportunity Analysis Report which you have completed earlier. Use Appendices to include Financial calculations.
Answer
Executive Summary
The report is developed to develop opportunity analysis report of Weaven. In this context, the report is help to show the planning and strategies that will be beneficial for Weaven in order to develop their marketing and sales (Machmud and Sidharta, 2016). Moreover, report is also helped the company to know regarding their financial feasibility. For this report, this can be said that the chosen company for this specific report is Weaven. In addition, Weaven is one of the popular company in all over the world and headquarter of the company is situated in Manchester, United Kingdom. Weaven can be considered as the hub of the few of most famous companies in the clothing industry. In this regard, this can be seen that mainly the company targets the consumers of Manchester, United Kingdom. Weaven offers the clothes for all types of consumers form 1 year to 80 year old. In addition, the report is assists to understand the operation plan for the company and this part will encompasses strategic context, key performance indicators, financial summary of the company along with key risks and team goals. In the last part of the report, action plan is included for Weaven.
Introduction
Opportunity analysis refers to develop demand along with competitive analysis. This can be considered as the process to study regarding the condition of the market. In addition, this can be seen that with the assistance of opportunity analysis, an organization can get the clear understanding of their vision and the strategies, which they need to be applied. This is a procedure to develop the company. The following assessment is carried out in order to develop a report of opportunity analysis of the company Weaven. In this regard, a business plan for Weaven will be reveled in the report. Business plan can be defined as the written description for the future of the business. It is documents that shown which plans need to be applied by the company along with the well-organized process.
In this regard, the report will show the planning and strategies that will be beneficial for Weaven in order to develop their marketing and sales. Apart from that, report will also help the company to know regarding the financial feasibility of the company. Moreover, the report will highlight the operation plan for the company and this part will includes strategic context, key performance indicators, financial summary of the company along with key risks and team goals. In the last part of the report, action plan will be added for Weaven. In this regard, this can be stated that the chosen company for this specific report is Weaven. In addition, Weaven is one of the popular company in all over the world and headquarter of the company is situated in Manchester, United Kingdom. Weaven can be considered as the hub of the few of most famous companies in the clothing industry. In this regard, this can be seen that mainly the company targets the consumers of Manchester, United Kingdom. Weaven targets and provides clothes all types of consumers form 1 year to 80 year old.
Marketing and Sales Plan
The marketing and sales plan for Weaven co. will be devised with reference to the market researches that have been previously conducted regarding the business in a precise manner. In brief, the marketing and sales plan of the Weaven co. in the United Kingdom market sphere can be categorized into four fundamental sections, such as the unique selling proposition of the organization, the pricing strategy of the organization, their sales and distribution plan, as well as their advertising / promotional planning in a brief context.
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Marketing and Sales Plan of Weaven co. |
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Unique selling proposition of Weaven |
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The clothing organization is significantly focused on selling premium-quality clothing and apparel to the customers belonging from the demographic group of 10 to 60 years of age. The Unique selling proposition of the organization is that it develops special clothing and apparel in accordance with the seasonal changes, such as winter, summer etc. The seasonal diversity of the clothing offerings of the organization is predicated to be beneficial to the organization in terms of gaining a higher a higher competitive advantage in the clothing market of Manchester, UK. |
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Pricing strategy of the organization |
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It has been previously documented that Weaven is a new entrant organization in the clothing market of Manchester, UK. Previous market research has further assisted in acknowledging that the UK clothing industry is highly competitive in nature, and is predominantly ruled by abundance of large-scale rival organizations. In this context, it has been observed that Weaven is exposed to face a significant degree of risk as well as competition during their establishment of business operations in the United Kingdom market sphere. Due to this, the pricing strategy that is most appropriate for the organization to gain a higher competitive advantage is penetrative pricing strategy. In brief, penetrative pricing can be significantly addressed as a strategic marketing approach that enables an organization to attract the attention of their key customers towards their product / service in a precise manner (Bolton and Shankar, 2018). In brief, the implementation of penetrative pricing strategy will enable the organization to present their own product offerings at a comparatively lower price range than most of the previously established clothing organizations in the market sphere (Chaffey and Ellis-Chadwick, 2019). Through this, the initial presentation of their product offerings to the customers will enable them to drive the customers towards their stores, which will be beneficial for the organization as a new entrant in the clothing market of Manchester, United Kingdom. As more and more customers are driven towards Weaven co. due to their low products, the organization will be facilitated with a wider customer base (Goworek et al., 2018). Furthermore, the optimum quality of their products can be sufficiently capable to maintain customer retention for long-term business transactions. Nevertheless, the organization is always open to raise the prices of their products subsequently after they have gained a significantly reputed position in the market sphere. |
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Sales and distribution plan |
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The organization will be open to both in-store as well as e-commerce business in order to sell their products to the customers in a precise manner. In this context, the organization will be situating their physical retail stores in central locations of Manchester in order to leverage their direct distribution system. Furthermore, the organization will also be collaborating with a brief set of external distributorships such as retail markets and shopping malls in order to distribute the products to their customers through distribution channels in a significant manner (Martín-Herrán and Taboubi, 2015). Furthermore, the organization also enables product shipping for online orders of their products, which will be done by customers on their official e-commerce website. Furthermore, the organization will ensure that the packaging and shipping services comply with the fundamental regulatory necessities, for instance labeling (Shepherd and Toms, 2019). The consumers will be enabled to pay the organization through direct cash / card systems through physical in-store purchases. On the other hand, advance payments are also enabled through their official website during online sales, which can be done through online banking / payment services. The organization would implement return policy of 7 days for their online and offline purchases. The customers are also enabled to apply discounts and offers in order to adjust their payments in a significant manner (Saura et al., 2019). The sales strategy of the organization includes both digital and traditional methods. In brief, the physical stores would involve salespersons that will demonstrate the efficacy of their products for sales purposes. The salespersons will be driven to engage in higher sales through the provision of incentives to drive for higher, which will benefit the organization with a higher profitability margin (Shaw and Williams, 2018). |
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Advertising and promotions plan |
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It has been observed that the United Kingdom is technologically advanced, due to which majority of their population is digitally active most of the times. In this context, it is of utmost importance for the organization to focus on digital advertising and promotional activities in order to spread brand awareness in a significant manner. In this regard, Weaven co. can significantly implement digital marketing strategies such as e-mail marketing and social media marketing to promote their product offerings (Watson IV et al., 2018). In brief, Weaven co. can advertise their products along with significant offers related to low prices and additional offers / discounts to gain the attention of their targeted customers. Furthermore, the organization can send e-mails to their customers in order to stay in touch personally and inform them about their products and services. The organization is always open to implement traditional promotional strategies in order to spread brand awareness through various sources such as television, radio etc (Liu et al., 2019). The organization can implement emotional marketing with their advertisements to attract their customers significantly. On the other hand, the organization can publish advertisements on newspapers, set up billboards, distribute leaflets etc. to promote their brand to a wider customer base. |
Table 1- Marketing and Sales Plan of Weaven
(Source- created by the learner)
Financial Feasibility
The financial feasibility of the new ventures can be determined from the profit that is generated from the sale of three various products, which is manufactured by the company for a time span of last 12 months. Forecast of revenue along with sales have been developed by considering the ability of the organization of product manufacturing in a month. The prices for per unit of thoise three products have been remained constant in the whole year. In addition, the rate of development will be kept in record also. The table that contains the forecast of sales has been shown in the Appendix- II. This is also estimated the income of the company that can be earned in the year 2019. In the same way, Appendix- III reveals the profits, which can be earned by Weaven along with loss in the financial year 2019.
Before incorporating an organization this is significant to understand that how much investment is needed. It can be possible to done with the help of developing a list of employing along with the fixed expenses. These expenses are changes according to the company. In this regard, this can be stated that fixed cost is recurring cost, which cannot be possible to change by changing the level of output. On the other hand, the variable cot is possible to change by changing the output of the company. As presented in the Appendix-IV of the report, an amount of $62,000 is needed as the capital investment.
Equity financing: It can be considered as the prime method in order to increase the capital of the company. However, the newly incorporate organizations never utilized this method of financing. The prime reason behind that is as he investors do not prefer to invest in them (Drover et al., 2017). The ownership of the organzait5ion are distributed among the shareholders this method is advantageous for the infant company.
Debt Financing: This method of financing is advantageous to enhance the money for mostly the banks and the financial organizations (Huang, et al., 2016). In ore to increase the financial fund, this can be considered as one of the easiest method. In this method, organization has to pay the principle amount with a fixed rate of interest and this can gain a high expense for the company as well.
Lease financing: This method of financing is another significant method of financing and in this case, equipments are leased by the lessors along with paying them a particular amount of money in every month (Kiplagat and Peter, 2019).
As the initial capital budgeting by the company Weaven is not substantial, this can be recommended that a mix of debt along with equity financing is employed by it. In addition, this can be said that an amount of 40% is increased by Weaven from the public with the help of floating shares and accepting loans from banks. This will become the outcome of 40% ownership, which is distributed among the investors. In addition, because of the remaining money, this can borrow same form the different banks along with financial individuals.
Operational Plan: A business continues to invest a huge amount of resources into the preparation of strategic plans and in this regard, it can be seen that the strategic plan is beneficial in order to outlines organizational goals along with objectives. This can be revealed that strategic plan is also encompasses the strategies, which is needed to achieve them. There are few aspects, which is needed to cover for the operational plan.
Competition: During the time of clothing store, the owner of the Weaven must conduct research into the competition. With the obtain ability of internet shopping, the competition among the organizations are increasing every day (SORAK et al., 2015). During the time of analyzing the competitors, this can be revealed that Weaven needs to consider competitive advantages, which can obtain from each competitor.
Inventory: Obtaining the inventory for Weaven is by far the biggest expenses of business. Excluding sufficient inventory, Weaven cannot be able to achieve the levels of profitability. In this regard, Weaven also have to consider the discount (SA and Rica, 2016).
Marketing: This section is effective to show the necessary marketing plan of the business. Previous research on market has assisted to acknowledge that the UK clothing industry is very competitive in nature, and this is predominantly ruled by abundance of large-scale rival organizations. In this regard, it has been observed that Weaven is exposed to face a significant degree of risk as well as competition during their establishment of business operations in the United Kingdom market sphere. Due to this, the pricing strategy that is most appropriate for the organization to gain a higher competitive advantage is penetrative pricing strategy. In addition, penetrative pricing can be considerably addressed as a strategic marketing approach that enables an organization to be a focus for the attention of their key consumers towards their product / service in a precise manner.
Finance: Before incorporating an organization this is significant to understand that how much investment is needed. It can be possible to done with the help of developing a list of employing along with the fixed expenses. These expenses are changes according to the company. In this regard, this can be stated that fixed cost is recurring cost, which cannot be possible to change by changing the level of output. On the other hand, the variable costs are possible to change by changing the output of the company. As presented in the Appendix-IV of the report, an amount of $62,000 is needed as the capital investment for Weaven.
Action Plan
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Weaven 2020 Vision Plan Of Action |
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Goals of the action plan |
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The ultimate goal of the action plan being demonstrated in the following section is to leverage the market expansion of Weaven co. across the United Kingdom and facilitate the organization with a sustainable market position and profitability margin. |
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Objectives of the action plan |
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The objectives of the action plan designed for Weaven co. are as follows-
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Responsible associates |
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Timeframe |
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The deadline set for completion of the plan of action has been set to be 12 months (July 2019-July 2020) |
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Monitoring |
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The organization will be allocating the monitoring responsibilities to the managerial executives of the organization. In brief, the sales and marketing managers will be monitoring the sales activities, where as the operational manager will be monitoring the operational activities. A field manager will be surveying customers to monitor the promotional progress. |
Table 2- Weaven action plan
(Source- created by the learner)
Conclusion
In conclusion, it can be stated that the current market position of Weaven co. is highly competitive due to the increasing competitiveness in the UK market sphere. In this regard, the organization makes best use of their marketing and sales plan to leverage their operational efficacies in a significant manner. It is of utmost importance for the Weaven co. to develop an efficient marketing and sales plan in order to leverage the effectiveness of their business operations to a paramount degree. Furthermore, the organization has been helped with various other plans such as operational plan and financial feasibility in order to analyze their market position in the UK clothing market. Furthermore, the report has concluded with a brief action plan that can be significantly beneficial to Weaven co. in terms of accomplishing their organizational goals and objectives precisely. Weaven business plan assignments are being prepared by our management assignment help experts from top universities which let us to provide you a reliable best assignment help service.
References
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Goworek, H., Oxborrow, L., Claxton, S., McLaren, A., Cooper, T. and Hill, H., 2018. Managing sustainability in the fashion business: Challenges in product development for clothing longevity in the UK. Journal of Business Research.
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Kiplagat, C.J. and Peter, N.J.I.H.I.A., 2019. FACTORS AFFECTING LEASE FINANCING IN THE MANUFACTURING INDUSTRY IN KENYA. International Journal of Public Health, 1(1).
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