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前言
“资金投入、时间投入和新业务创造规模这三个指标揭示了在创造新业务时需要强调的范围。资金投入于新的程序或者研究以及开展活动中，在创造新业务的过程中，这些都是非常有用的重点指标。相对于产业而言，这可以通过将新产品支出占销售的百分比和研究开发花费占销售百分比来作为衡量标准。”
首先，我要开始开展的业务是一个在伦敦富勒姆区的“零售鞋店”。这个业务的名字称为“S & S鞋”。为了开展这个业务，我的计划是先从一个拥有良好质量保证的小店和有对男女吸引力的独特的鞋设计开始实施。我之所以选择这个业务是因为我觉得这是一个非常重要的行业，而且它有着良好的发展前景。通过这个业务，我们可以以大量的顾客为目标，因为鞋子是世界上每个人的基本需求，在日常生活中，没有人可以忽视鞋子的重要性。所以在选择商业区之后会有一个问题出现在我们的脑海中，就是为什么我要选择这个行业的零售业？首先，我想介绍一下英国的零售市场同时说明一下的原因和因素来证明英国零售市场的重要性。
Introduction:
“Three indicators reveal the extent of emphasis on new business creation: money invested, time invested and size of new business creation pipeline. The amount of money invested in new programs and/or in research and development (R&D) activities are useful indicator of the emphasis on new business creation. This can be measured by expenditures on new products as a percentage of sales and R&D spending as a percentage of sales, relative to the industry”. (Vijay Sathe; Cambridge University Press, 2003).
The business which I am going to start is a “Retail Shoes Shop” in Fulham area of London. The business name will be “ S & S Shoes”. My plan is to start this business from a small shop with good quality and attractive design of shoes for men and women. I choose this business because this is very important sector and have a great prospect of growth in this posh area. Through this business we can target a large number of customers, because shoes are the basic need of each and everyone everywhere in the world and nobody can ignore the importance of footwear in a daily routine life of human being. So after choosing the area of business there is a question arise in the mind that why I choose a retail business of this sector? First of all I would like to introduce the retail market in UK and give some reasons and factors to prove the importance of retail market in UK.
According to Roger Cox and Paul Brittain (4th Edition of Retail Management).
“It is the final in the chain of production which begins at the extractive stages, moves through the manufacturing processes and ends by the distribution of goods and services to the final consumer.
It is a second largest employer in the UK with 2.4 million worker involved.
It accounts for 23 percent of the gross domestic product.
It account for about 35 percent of consumer expenditures.
It is an important tax collection point, e.g. value added tax”.
Objectives:
The objectives of our business are in first two years are:
To provide the best and latest designs of shoes.
To increase customers by offering competitive price.
Mission:
Our mission is to build a good name in the shoe sector by providing the latest designs, better quality and durability in our product, and to built a very friendly and long term relation with the customers by our best possible service.
Product:
We will stock a wide range of formal and informal shoes for both male and female, which will be include:
Dress shoes
Party shoes
Sandals
In our all product we will emphasis on the availability of all sizes in all designs and variety, so we can meet the customers need.
Market Analysis:
If we analyse the Fulham area, the population of the borough is adequate and we are going to target the all males and females professionals and non professionals from the age of 18 and above, there is another most important factor of the customers from this area that they have better buying power as compare to the other parts of London. So we can provide them better quality and get better profit margin. Women shoes are more in demand than men because generally women always need more designs and colours and they are very much particular about the looks.
Market Demographics:
The customers for our business consist of the following geographic, demographic, and behaviour factors:
Geographic:
“The geographic target is the borough of Hammersmith & Fulham with a population of 172,500”.
The total targeted population is estimated to be 60,000.
Demographics:
Age range 18 and above.
40% of the customers are professionals.
“The professionals earn about ￡19,000 per year”.
Behaviour Factors:
Fashion conscious.
Tend to eat out at least once a week, typically more.
Live the motto “fashion over function.”
Are always aware of the different fashion trends.
TASK 1
population:
“The population of the London Borough of Hammersmith & Fulham is 172,500. The source is the Mid-Year Estimate 2007 from the Office of National Statistics (ONS). The Mid-Year Estimate 2007 was published by the ONS on 21 August 2008”.
“The population of Hammersmith & Fulham has been increasing over the last 20 years.This followed an historic decline in the population during the period between the 1930s and the 1980s.From the revised population estimates of August 2007, the Borough’s total population rose by 1.2% (2,000) between 2001 and 2006. This was a lower rate of increase than those for both Inner and Outer London. The total population of Hammersmith & Fulham is projected to continue rising in future years, though projections will be revised in the light of the recent adjustments to the population estimates. The currently projected increase in 2006-11 is 4%, and the further projected increase between 2011 and 2026 ranges between 6% and 9%.In the 2006-16 period, the largest percentage increases within the population are projected to be in the 40-49 and 50-64 age ranges, followed by 5-16s”.
SWOT Analysis:
To start a business there are some factors we need to analyse which are based on research, we can differentiate them in two, the internal and the external, strength and weaknesses are internal whereas opportunities and threats are external.
Strength:
Good relationship with our suppliers
Well trained staff
Attractive and stylish outlook of the store
Competitive prices
Weaknesses:
Unknown brand shoes
Unavailability of all sizes in all designs of shoes
Keeping the pace up with the quick changing fashion
Opportunities:
Vast customers market
Good profit margin opportunities
Growing industry with least likeliness of being bothered by economical crises
Threats:
Well known brands in the same area
Apprehension of delay in import process
Misunderstanding about upcoming design, style and fashion
Demand:
As far as the demand is concern we all know that population is increasing day by day and along with it the demand of all basic needs of life like shoes are increasing accordingly. Even in the present time when there are economic crises all over the world, women are always very fashion-conscious; they buy shoes to go with their different dresses. So there is a continuous demand by female section of this business.
Situation Analysis:
“The situation analysis will involve investigation of the defined market in terms of market size and market trends as well as looking closely at the competition, their strength and weaknesses and market shares. The potential customers should also be studied to determined their motivations, how, why, what and where they buy, if there are needs which are not being totally satisfied. The larger forced in society should also be studied to detect social and economic trends and the effects of technology and government”. (Roger Cox and Paul Brittain, Retail Management 4th edition).
As far as the situation analysis concern the area of our business have a huge market of visitors customers as well, the two most famous venues Chelsea football club and Fulham football club are just in 1 mile radius, where a large number of football lover come to this area several times every year. So we have a good opportunity to target all these visitors as well as the local customers.
Objectives:
The main objectives of my business are;
To maximize the profit
To provide good quality service
To provide the latest designs in shoes
To built a long term customer relation
The objective of my business is to maximize profit, good quality services, attract more customers and built long term customer relation.
Strategy And Implementation Summary:
WE will leverage our competitive edge of exclusive selection to increase our sales. Indeed it is a competitive edge to have exclusive selection against a very attractive and handsome price we will offer. Because of our unique business model in terms of our product display the style of our shop front and awesome signs, we will have a competitive edge to the customers.
Sales Strategy:
Our strategy towards the sale will be based on display and visibility. A large number of pedestrian will be attracted by our highly visible signs and our attractive product displays. Our sales strategy will be consist to have the exclusive designs and variety especially for females, the best reasonable prices for all products and most important thing is to offer free repair services in case of any damage for a particular period.
Competitive Edge:
Our competitive edge will be having a exclusive selection in our area. We will try to achieve this selection in two ways. The first way is a very particular effort to have as many styles of shoes as possible. We recognize that there is not a single shoes store that offers a decent selection of both male and female area.
We will offer some selection through a unique inventory model that stocks only one size per style. The advantage is that we can be able attract more customers especially females because females have a very possessive kind of nature about their belongings.
Late working hours will be another competitive edge over the competitors because all other shoe stores timings are normally till 5 to 6 pm,
Industry Background:
Our aim is to provide a better quality rang product to our customers, to meet with our target we are planning to get our product from different countries like China, Italy and Pakistan. As we all know about the China market it is famous for its economical cost in the market, Italy is famous for its designer footwear and Pakistan has a big market of leather products including footwear, there are thousands of manufacturers who manufacture a huge selection of fashion footwear in both male and female sector. We will focus the Pakistan industry because Pakistan is our home country and we can deal with the suppliers in better way and get the better quality against a better price.
Task 2
A Review Article On The Current Theoretical Debate In Support Of This Business Case.
“The UK’s love affair with shoes is gathering pace, according to the latest research from media intelligence company Mintel. Over the past five years, sales of shoes have increased faster in the UK than anywhere else in Europe and spending on footwear has risen 38 per cent since 2001 to reach more than ￡6.5 billion this year. The shoe market is expected to see continued growth, with sales increasing a further 17 per cent between this year and 2010, totalling ￡7.6 billion. According to the study, one in 10 British women own more than 30 pairs of shoes, with just one in four saying they only buy shoes when they need a replacement pair. Mintel director of retail research Richard Perks said: ‘Footwear in the UK has moved centre stage in the world of fashion and demand has been growing rapidly. Indeed, apart from accessories, it has been the fastest growing element in fashion retailing”.
So there is no reason to make a doubt about the importance of this business in the heart location of capital city. Especially in the present time of recession when there is a great threat for all other existing businesses in all over the world, it is highly risky to go for a new business, but as far as the shoes business is concern, according to the above research this is the only business increasing in this recession period and the growth of this business in UK is continuous. In the present time shoes are no longer as a part of clothing but it has become a part of fashion and a part of style indeed. Basically the shoe market in UK is strong, steady growing. If we differentiate the men and women footwear, women are more curious about their clothing, they do not care of money and economic climate regarding their style and fashion, they don’t buy shoes according their need but whenever they feel that their shoes become old fashion or they look bad wearing them or those shoes which they have got are not suitable with their dresses, they go for a new pair of shoes. So in our business the women section is the main part of our business where we can attract the female customers by new designs.
Task 3
Market Competition And The Possibility Of Success.
“Relationships with competitors focus particularly on pricing and market positioning. In some markets, competitors have reached a realistic modus vivendi, in which there are generally understood rules of the competitive game. I describe these as stable competitive environments. In others, there is no sense of a repeated game, and competition may be pursued to mutually destructive lengths. Sometimes technological change, or new entry, may shift an industry from stability to instability in its competitive process”. (John A. Kay Oxford University Press, 1995).
Positioning and pricing are relevant to relationships with customers as well as with competitors. Advertising and branding are mechanisms by which firms communicate with their customers, but are also strategic tools governed by competitive interactions.
Pricing and Positioning:
This paragraph is concerned with issues of competitive strategy–how successful firms manage their relationships with competitors, suppliers, and customers in their chosen markets. In this chapter, and the following one, I consider issues of market position and product price. Different types of competitive environment are found in different markets. Some are stable. In these there are implicit rules of the competitive game, understood by all parties. There is, in effect, a relational contract between competitors. In other markets firms have neither desire nor opportunity to establish long-term relationships with competitors and pursue price wars or establish aggressive market positions indifferent to the future effect of current behaviour. I describe these as unstable competitive environments.
The two key influences on market prices are the costs of firms and the value offered to consumers. The less stable the competitive environment, the greater is the degree to which prices will be determined by cost rather than value. In the worst case, prices can be driven down to marginal or incremental cost. Marginal and incremental costs are often thought to be very low, but I explain how this is often a mistaken view and describe how activity-based costing helps to bridge the gap between theoretical concepts of marginal cost and accounting systems of cost allocation.
“In other market environments there is more opportunity for prices to reflect the value of products to customers. In these, market segmentation-the identification of as many distinct product and geographical markets as possible–is a principal means of securing as high a proportion as possible of the value offered to consumers as added value for the firm. There are two necessary conditions for effective market segmentation. There must be economically relevant differences between the separated markets. These may arise from differences in the incomes of customers, or in the ways they use the product, or in competitive structure. And there must also be effective barriers to arbitrage at both wholesale and retail level”. (John A. Kay Oxford University Press, 1995).
As the customers in that area expect the high quality of product, to compete with the competitors like Clarks and Russell Bromley we have to make sure that the standard of our product is up to the best quality and to win the market we have to make sure the prices are competitive and initially we need to keep our margin as low as possible to attract the maximum number of customers. We need to have an attractive outlet and the latest designs to compete with the other market.
Shoe Zone:
This is a complete shoe store. The store however, suffers from cluttered displays and a general sense of disorganization. They concentrate on the traditional designs that attract a very few customers.#p#分页标题#e#
Clarks:
This is another complete shoe store, they have almost the prime locations in all areas they always have enough stock and variety of shoes, its stores look unorganised they put all their stock in the display which presents an untidy environment in the stores, the displays are very old styled and almost one shelf found full of one design with different sizes and sometimes even they do not have the hot sizes among them, and sometime they do not update them with the new designs and styles.
Marks and Spencer:
This is clothing, food and foot wear store. Marks and Spencer is famous for its good quality clothing and on some store they sell food as well. They have a nice selection of clothing but a poor and limited selection of shoes. They are updated in clothing section but not in foot wear section.
Primark:
This is a huge clothing and shoe store. This store is famous for clothing and its cheap prices in all products. In the shoe section primark has got some weak points like they don’t have enough variety, proper designs in both male and female area of shoes as in clothing.
Peacocks:
In providing multi wearing products like Marks & Spencer, Next, Officers Club, TK Max and Primark, Peacocks also known as a multi wearing products seller. Like all above names Peacocks also emphasis on its clothing section. They always do very limited selection of foot wear.
possibility Of Success:
If we talk about the possibility of success of our business, there are some factors in the market relating to our business which we need to analyse as we did earlier we will and some plans we need to study which will be the major cause of our success in our business. Those factors and plans are:
Competitive Price Plan:
In the present time of economic crisis where everybody struggling with their financial and economical survival, in this condition, to offer a handsome price for something good and exclusive will be a awesome attraction for the customers. To meet the success our aim is to provide competitive prices to our customers.
Marketing plan:
Marketing is a very major part of any business and it works like a heart in any business, there is no business can be familiar without marketing to their customers. Companies fix a very large budget on the marketing. There are many ways of the marketing which includes advertising, leafleting, seminars, shows, door to door campaign and many more. As far as our business marketing plan concern, we will advertise through the local papers.
References:
John A. Kay Oxford University Press, 1995
Richard Perks
Roger Cox and Paul Brittain (4th Edition of Retail Management).
Vijay Sathe; Cambridge University Press, 2003
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