Olivia Ames Virtual Business Plan Customised Online Lingerie
1) Executive Summary 1.1 Mission Statement Za Za Zu aims to bring a whole new level to lingerie shopping online. Gone are the days of your man buying you the wrong size bra and an awfully cut shape pair of pants to match (or not, as the case may be). With the online registration process that Za Za Zu will bring to you and your partner, your styles and colour preferences will all be stored on your account ready for your partner to log in and choose his favourite to be sent to you in the most lavish packaging. The idea needs to be kept simple as complicated ideas in niche markets can deter costumers. As far as research shows this idea has not been done before and therefore proves to be a potential gap in the market. The website will feature several different features that allow both the customer and consumer a wide range of choices in many different aspects. The different styles of lingerie available will allow the woman to pre-approve styles that compliment her body shape and will allow the man to pick sets to his price range and also give him the sense of involvement while having the confidence to know whatever he chooses will make his partner happy. 1.1
The gift industry, especially between two people in a relationship, contains numerous dates to take advantage of – with birthdays, Christmas’, anniversaries and Valentine’s day to name a few, lingerie is the perfect gift for a partner. The frequency of men getting it wrong when it comes to buying lingerie for their partner contributes to the percentage of men who think lingerie is a disaster zone and choose to play it safe with a luke-warm sentiment Teddy Bear, making Valentine’s
Days less sexy each year. There are very few industries where something can be pre-approved without ruining the surprise and with the fact our ladies won’t see their combinations in a final design, the end product is still a surprise and chosen from a selection by their man. The business will primarily be based online as this is an excellent way to reduce start-up costs and is also the most sufficient way to enable our customers/members to enter their details to start up their account with us, not to mention the ever growing capabilities of website software, which makes it is the perfect market to invest in as it is continuously improving. With the three most prominent factors of this business venture including the gift market, the lingerie industry and the advantages that an online business brings, Za Za Zu looks to be a promising business that will engage with both its customers and consumers and provide a high quality and memorable product. 1.2 Financial Projections
Through basic financial calculations 35000 based on estimated figures acquired 30000 through research regarding the 25000 market and the product at hand, 20000 this graph has been drawn to show 15000 the increase in net profit that the 10000 business will receive each year, 5000 proving that the business will be 0 successful. Year 2 sees the business year 1 costs increase due to the strategic plan that to put more money into the business to produce even higher sales Year 3.
sales costs net proﬁt
2) Industry Environment 2.1 Overview of the industry/market 2.2 Projected Position for the future Through various statistical research and internet browsing it is clear to see that there is a very wide industry for both lingerie and gifts in general. There is a distinct pattern in emerging markets that everything needs to be personalised as most products are so mass produced that the market is craving individuality. With supermarkets also entering the lingerie market it becomes difficult for consumers to decide between quality and price. Statistics show that under 35’s are more price conscious, while over 55’s value quality more. Za Za Zu aims to place themselves, as shown below, above average quality but with a mild price range as it would be unrealistic to expect new customers to spend a reasonable amount with a start-out business, as shown within 5 years this aims to be changed with price and quality as the relationships between our manufactures, suppliers and most importantly
our customers, becomes more profound. The reputation of the business as expected will begin very low but within 6 years we hope for it to be amongst the leagues of Victoria’s Secret and Ann Summers yet offer a more exclusive experience when it comes to the gift MR (Market Reputation) to gain customers and credibility against competitors. The business needs to ensure that it keeps up with recent technology as Apps are being increasingly popular with well know lingerie brands such as Victoria’s Secret and Ann Summers, one of which even has the technology to enable customers to virtually try on lingerie. The lingerie market can fall into a somewhat taboo stereotype, which allows the level of risqué merchandise sold in each store to determine the reputation surrounding it. For instance, an Ann Summers store bag could mean anything from a £2 sale pair of knickers to an £80+ sex toy – the connotations of a branded store bag can affect the company wildly depending on the range of items sold inside the store. Za Za Zu aims to be a website for couples to enjoy but ensures that the only connotations are surrounding lingerie to ensure it doesn’t cross over into any other surrounding industries that may make some customers feel uncomfortable.
2.3 Customers and Consumers - See appendices for pen profile Despite the website intending to also have the feature of women to buy underwear for themselves from either the same structure of personalisation or from a range of predesigned styles, the business USP has both a customer and a consumer of which to target. The website and business needs to appeal to men foremost as they are the consumers and will be the difference between how quickly the
business’ reaches breakeven and begins to make a profit. However, the product needs to appeal to the customer, the partner. The business needs to be a combination of factors that both male and female are interested in enough to participate in the process, which makes advertising somewhat more difficult, yet undoubtedly achievable. The great thing about Za Za Zu is that it appeals to so many different types of couples – those in relationships, those who want to surprise a loved one, married couples or even a gift from a crush. It allows for a whole range of customers and consumers to be targeted rather than a business with a very selective audience. This allows sales to sky rocket with the business having the flexibility to suit everyone’s needs. Through statistical research and surveys of a target market, half of men surveyed admit that they wouldn’t be able to tell the size of a woman’s breasts just by looking at them and 90% agreed that the business pitch sounded like a good idea and would be interested in using the site to buy lingerie for their partner. More than four in ten women said wearing nice underwear makes them feel good but generally when buying lingerie online find that it doesn’t fit in reality. This is due to the high number of women that are wearing the wrong size bra (a shocking 80%) and the fact that several high-street stores don’t size their garments to the same measurements which leaves women in the dark about what size they really are. 2.3 Direct Competition - see appendices for SWOT analysis The most prominent store that is providing the nearest similar service in the lingerie market is Victoria’s Secret, who offer a log in via their website where by you can select styles you like and it will eliminate the lingerie that isn’t applicable to your taste. You can then also send these styles to anyone via e-mail. As Victoria Secret produces such high volumes of lingerie it would be difficult for them to create customised lingerie, however, Za Za Zu aims to start with this concept and grow as the amount of customers increase with the capabilities of the business. The top Google result for customised lingerie online shows a lot of plus size underwear and especially control underwear/’Shapewear’ – this would seem like an appropriate market strategy as the percentage of obese women in the UK is increasing every year – however at Za Za Zu we aim to stay clear of the plus-size availability for the first 5 years at least, as customised lingerie for a plus-size woman may be seen as ‘specially made’ underwear because of their size – which is a negative connotation that we don’t wish to put upon any woman. The highest Google search presented when searching for customised lingerie/buying for your partner is a website called LiviRae which is US based. The website has an exhaustive list of tips for a man to stick to when buying his partner lingerie, which involves a lot of language that would baffle a man (survey shows that men have little knowledge of the terms used regarding lingerie – see appendices) which shows that the website hasn’t thought into the attention span of a man on this website – an opportunity for Za Za Zu to seize. We aim to create a website with two separate portals – buying for her and the registration page – each will have different styles, language and context design especially toward their audience to keep our customers engaged.
3) Marketing 3.1 Business Opportunity There is a large up-rise in recent years about how gifts need to be personalised to add that extra uniqueness and thought to a gift – Moon Pig has done especially well by saturating the gap in the market for personalised cards which has led to their expansions towards gifts and flowers. Za Za Zu has the company ethos that romance and adoration in a relationship is something that should be kept sexy, while at the same time having women’s confidence at the ends of our fingertips and keeping our ladies feeling incredible within their own skin. Every aspect of the business and the service we provide gives couples the chance to give a gift that is truly personal and from the heart. It also gives men the chance to be intimate and involved with the process of buying their partner lingerie with the confidence that a smile and a happy girlfriend will be on the receiving end. We aim for a smooth transition with delivery and to beat the typical stereotypes that are aligned with buying lingerie online. Statistics show that there are many women who don’t have trust in buying their underwear online through fear of the fit not being correct and several issues regarding delivery. We aim to incorporate with local drop-off zones so that we can bring Za Za Zu as close to you as possible without having to worry about waiting in for the postman! With cheap delivery and free returns we also hope to eliminate any worries with incorrect products and with an easy, concise guide on our website to ensuring you’re choosing the correct size – we hope this will minimise returns anyhow. 3.2 Your Company Strategy Marketing Strategy, the business will begin with a range of 21 prototypes made for the initial photo-shoot as any product if professionally shot and styled can create the illusion of luxury which will draw customers in. This will most likely take place with a student collaboration regarding both models and photographers to save costs on hiring paid professionals. This selection will then be taken to a small gathering of close friends and family to show the range of products that will be available, this will then be offered at a discounted price and available for further requests regarding sizes and styles – at this stage the website will not be fully functioning as to get a feeler for the business, feedback about the products will need to be received. Through word of mouth and various marketing the business will grow locally. Through leaflets and business cards – the business will build local relationships with other relatable stores in town in exchange for recognition of their business on the Za Za Zu website when created such as:
Up-market barber shops - MINT Bournemouth – men who care about their appearance are most likely in a relationship or a lothario with women – increases the chance of them buying women sexy lingerie as they will be, to put it bluntly, sexual people. Florists – Signature Flowers - people who buy flowers, main customer women, consumers are equally as likely to be men or women – men buying flowers will be the predominantly gift giving and therefore targeted as may be interested in the lingerie service Za Za Zu provides if buying for a partner 18+ stores – stores selling risqué toys for the bedroom and such will attract an equally risqué clientele which will most likely be interested in lingerie buying for their partner. characteristics include up for trying new things, in a relationship/interested keenly in women and a high disposable income Spas, hair salons, beauticians – easy way to target women who care about their appearance who are most likely to be in a relationship or keen to impress the opposite sex (more likely to be involved with a partner) will take a leaflet/business card and suggest to partner and friends
Local magazines will charge a small fee that has been accounted for in the funding requirements that will enable Za Za Zu to promote locally and increase the business reputation and consumer volume. A simple unisex ad that will appeal to both men and women will be placed in relevant
magazines around the local town of Bournemouth. Other aspects that require consideration regarding online advertising: • • • • • • • • • •
AddThis.com – Social Network sharing including Instagram and Facebook accounts (see appendices) Content Management System (CMS) website software that allows publishing, editing and modifying content relevant to the business and online store needs Hosting – arrange server space for our website to live Web tracking – track the views to see the volume of interest against registration Shopping basket, customer account, payment processing, delivery & fulfilment, returns management, up-to-date stock control, excellent customer service Smart phone access T&C’s state regional sizing variations Search Engine Optimisation (SEO) – Google searches within lingerie, gifts, buying for her Advertise on sites the customer/consumer uses (Facebook Ads) Email alerts to customer dates and events (Birthday, Valentines, Anniversary)
3.1 Benefits & Needs With regards to Ansoff’s Matrix (see appendices) the business requires a steady growth and in order to expand needs to change the marketing and product range either as a risk assessment or initial plan towards success. Za Za Zu will begin its journey as diversification with regards to the business itself, however in comparison to the lingerie industry Za Za Zu has the approach of product development as the existing market has few customised lingerie especially with couple interaction, which gives the business an element of market development as there are few products (that aren’t of an 18+ nature) that are aimed for couples to experience together in the gift marketplace. The benefits of the business are based specifically around the target market both customer and consumer and show only a brief overview of the benefits of Za Za Zu.
Saves time, allows quick and easy shopping
Separate website portals
Register online; never have to register again once it is completed. Company now has sizes and details stored on database. Different styled websites between the consumer and the customer
Physical account of login
Once registered, the details of your log-in will be printed and sent to user
6-8 week warning to partner of upcoming anniversaries/dates to get present ordered and ready
Personalised swing tags
Each swing-tag will have ‘Designed by ***’ and the name of who’s lingerie it is
Size hidden from male log-in portal
Customer profile questionnaire
Preference on styles
The details entered by the partner will not be seen by her man Customer can choose lace, colour, style and straps preferences
The man will not feel emasculated by a girly website design, will be very straightforward not complicated Able to store in purse, leave around the house to drop hints and to show off to friends discreetly that partner buys luxury lingerie for them Gives men a push in the right direction, customer profile has correct anniversary stored to avoid any upsets/forgetting Gives extra personalisation and special features to the lingerie – very intimate experience Leaves the customer feeling comfortable and sexy and not embarrassed Customer ends up with a customised product exactly to their liking
4) Operations 4.1 Organisational Structure The business will begin very small, as previously stated, and will require the most complicated parts of the manufacture process to be outsourced as the bra itself may prove difficult to complete in an at-home environment. The hand-made manufacture of the customisation of the lingerie will occur by myself, the sole trader of the business, as the first year of sales expect to be under 50 sets of lingerie a month which is achievable within the time frame by one person from space at my own home.
I will source labour from close family and friends as the customisation is easily taught as it is needlework which means that in cases of rush or high demand, there will be others to help which won’t require labour costs. Delivery and packaging will start off small and through a local service which is easily reachable. As the business grows this will, as shown in the funding requirements, increase with number of staff that will partake in the manufacture of the products. Website design and accountancy will initially occur from the help of close friends and family specialising in those areas and student collaboration. 4.2 Funding Requirements OUTSOURCING – • Manufacture of a basic strapless bra in a cotton fabric with a plain colour. • Branding: Swing tags, business cards, leaflets MANUAL LABOUR CUSTOMISE – lace designs hand-sewn onto cups, multi-way-wear straps attachable, lace fringing, and lace detail on top of the straps • 2D aspects of the business: website
design, e-mail subscriptions Delivery process – packaging
4.3 Core Operations (Risk management plan) The business will have the help of parental investors who have experience within the Sole Trading business ready to lend advice on the trade, not to mention financial advice due to primary employment as a Bank Manager. Through the registration process that the website has it is simple to work out how many orders will be coming in in the near future as the process is relatively slow between registration and manufacture as it has to go through the design and payment process – this allows the business to plan ahead if the number of sales is larger or smaller than expected. The relationship between the suppliers must be kept at best – the reliance on the main product being delivered as and when the custom presents itself means that all customers and consumers must know the presence of a waiting list for products. If the products that are ordered online do not deliver, it must be stored and kept the location of where the products can be personally store bought ie. Fabric shops. 5) Financial Projections
5.1 Break even
Through calculation the business will breakeven after selling 83 sets of lingerie in the first year to break even of £2,511, which has been estimated to achieve as shown above. This shows that the business has been able to reduce start-up costs to a considerable amount that the lingerie will be able to succeed and allow the business to grow. 5.2 Funding The business loan will have a repayment scheme, so the business will still be making a profit each year but will have to account for the amount that the loan is required to pay back per year. As the Sole Trader of Za Za Zu, my intentions regarding funding are as follows: a personal student overdraft loan of £2,000 with Barclays Plc and ‘The bank of Mum and Dad’ would match this funding and contribute £2,000 – RISK ASSESSMENT 4.3 – personal savings of £2,000 if repayments or growth becomes unexpectedly large. ‘The bank of Mum and Dad’ will be repaid within 5 years due to the agreed repayment scheme of £400 profit each year goes back to the funding received from parental investors. £400 a year of the personal loan will also be repaid which subsidises the debt over 5 years, entitling the business to a pure profit without repayments after 5 years 5.3 Five Year Plan BUSINESS IDEAS – ‘My first bra’ use the same structure of the website but with a process designed to conquer the awkward stage for young teenage girls in buying their first bra. They would enter their details online regarding their taste, making it as girly/supportive/tomboy as they wish and then their Mum/Guardian would sort out the procedure regarding payment and delivery. That way the mother is involved without being too intrusive and the teen can feel
comfortable and make independent decisions in the awkward time that is becoming a woman. BUSINESS STRUCTURE – • • • • • • • • • • •
A larger team hand-sewing in a small studio space Larger amounts of stock kept in the studio Highly professional website High fashion paid models with professionally shot photo-shoots, High quality images for the website A large and diverse range of stationary (leaflets, business cards, letterheads, key-rings, membership cards) regarding the brand image, which by this time will be very strong. An accountant to correctly and efficiently manage the growing finances of the business A large range of advertising platforms in motion A large database ever growing with loyal and new customers Strong relationships with suppliers and manufacturers Over 10,000 likes on Facebook, followers on Twitter and Instagram
FINANCE • • •
Earn myself and my small team a substantial wage each Achieve large economies of scale with both suppliers and manufacturers, lowering costs and increasing profit margin Become financially stable enough to reward loyal customers with discount codes
Conclusion In conclusion to the Business Plan, I, as the soul trader, feel very confident in the upcoming success of Za Za Zu and look forward to the feedback that I will receive from our upcoming customers. I think that the support that is expected from close friends and family will be the key criteria to the primary stages of success. Living in the affluent town of Bournemouth, I feel confident in the level of disposable income that will fuel the business into a high market share within small businesses in Bournemouth. I believe that the target market that the business features has been aimed at will be impressed with the design and considerations of the business and that Za Za Zu will be a business they will take pride in staying loyal to. I hope that the business is able to grow and the Za Za Zu team can expand, making intimacy throughout Bournemouth couples to be kept as unique and personal as possible. I think the business has been cost cut effectively and that will the help from student collaborations and support from social media will drive Za Za Zu to everything it aims towards and more.
Appendices Instagram, Facebook – social media platform mock ups
2.3 Customers and Consumers THE RELATIONSHIP Xiola and Harley have been together for 5 years. There have been a few break-ups along the way, as most couples experience, so both in turn have missed a few birthdays and Christmas’ amongst their journey. But in general they have had a fair few occasions between the two of them where a gift has either been expected, appropriate, out of the blue or just to get out of the doghouse! Valentines Day, Birthday’s and Christmas are essential; their anniversaries, a few kiss-and-makeup gifts and the odd occasion to spice things up in the bedroom or just for being her. They have spent many a day with each other and even had a few treats including a spa break to Bath, a holiday to Rhodes in Greece 2013, several dinner dates. Harley has bought Xiola plenty of presents over the years including bracelets, Pandora charms, photo canvases, flowers chocolates, teddy bears – the list goes on. Harley and Xiola are a very intimate couple and have been together since they were both 14. They have only ever been with each other and have had plenty of trips to Ann Summers in the time they have been together. They enjoy buying new things for
themselves and to wear in the bedroom. Harley has bought Xiola underwear for a Christmas and guessed her size, which was correct; due to the fact he has been working in the Womenswear department at Next for the last year and had a good idea of sizes. CONSUMER: THE BOYFRIEND Harley is a 20 year old student studying Graphic design at the Arts University Bournemouth. He currently has a few part time jobs involving teaching for a U13’s football team with his Dad on the weekends and a few shifts a week in Next near his house. He lives at home with his parents, two brothers, younger sister and their dog. Harley drives a red Corsa that he bought outright, second hand, two years ago for £2,400. His insurance is £20 a month as his Mum contributes. His phone bill is also paid for by his Mum as they are on a joint contract with the entire family. He has a student gym contract and is at the same gym as his girlfriend, Xiola. Harley plays football in the summer for his local team but likes to go to the gym every evening and is very much into his protein shakes and Men’s Fitness magazine. He watches a lot of football and has the entire series of 24 on DVD. He’s also partial to a cheeky Geordie Shore episode. “I have worked for Next in the Womenswear department for over two years now and the time I bought Xiola underwear for Christmas I was a little hesitant to what she would like so I asked her to pick a few styles and then I chose the one I liked the most. I was really happy that she liked it and I felt more involved the next time we were alone together as she was wearing something I chose for her. Xiola always moans about her body and her flabby bits but I can’t see any imperfections with her body as she is beautiful to me! I think that Xiola has been lucky in the boob department as she is bigger than most girls so doesn’t need to wear push up bras- I don’t think so anyway! But when she goes out to town she always manages to look sexier than when she is off to University for the day in joggers and a hoodie. I can definitely tell when Xiola is having a good day and feeling confident as it shines through her personality and she feels more at ease. She has always been open to trying new underwear as I remember her trying to climb into one of these new models and she got all tangled and gave up in the end! I would love to buy her more underwear and have an easy way of us going through the process together as it feels like an exciting process that a couple can go through! I think as a guy especially, underwear would be such a cheeky present that would make her laugh if I was ever in the dog house that it would end in getting her kit off! There’s nothing that feels more rewarding than me seeing my sexy girlfriend happy in something I’ve bought her.” CUSTOMER: THE GIRLFRIEND “Personally when I buy underwear, especially bra’s I usually decide the style regarding a few things… If I’ve bought a new dress off the shoulder or backless, I’ll need something that doesn’t show but still flatters my figure, if I want my cleavage showing I’ll want underwear that is a little more push-up to make the most of my assets and if I want to buy something to surprise Harley
with I’ll make it super sexy and something I know I will look good in. I’m a 34C in some shops and a 32D in others, but they are near enough the same in my opinion. I tend not to wear strapless bras as they don’t offer much support and I constantly find myself hoisting them up. When I buy underwear for myself I don’t tend to try them on, as I know what fits me either by shopping there before or being able to tell by looking at it. I don’t tend to pay any attention to the advertising of underwear, as the models are so Photoshopped these days there’s no point in thinking I will look the same as them! I like to be realistic, I don’t have time to go to the gym twice a day so I do have a little muffin top and could probably work on my rear end a little, but I think that I’m able to hide that with the different underwear I choose. I feel good about myself in a set of underwear that fits properly and makes me feel sexy. I love impressing Harley with new underwear, even though he says I look good in anything! Even when we do break-up after the odd fight, I still think even if I was single I would want to look good in my underwear and it would boost my selfesteem. I like to match different bras with different pants all the time and I don’t think the same set needs to last all the time – especially as my bras don’t get washed as regularly as my pants. I have a lot of underwear, I can’t say I’ve ever grown out of underwear from gaining weight or anything, but my bras definitely aren’t the same size as they were a few years ago!” Xiola works at a small Tesco’s part time while she studies English Literature at University. She’s 20 years old and considers herself a typical student. She watches EastEnders religiously, likes going to the gym most evenings and also spending time with her friends, family and boyfriend. She is going on holiday to Ibiza this summer with her friends and loves going out clubbing in her hometown, where she also studies, in Bournemouth. She subscribes to Cosmopolitan magazine and loves when she finds a new independent boutique online or on Instagram. She lives at home with her Mum and Step-Dad with her younger brother, Joe and her two dogs. She earns roughly £400 a month and also has a £2,000 maintenance loan from Student Services which she spends on a few essentials for University and the rest on clothes, days out and holidays. She has a black Fiat car on finance that she pays £115 a month for, £40 per month car insurance, £25 a month for the gym and also her iPhone contract. She goes to the cinema every so often but spends most of her money on clothes and going out to nightclubs with her friends. She hopes to be a teacher when she graduates from University but hopes to stay local so that she can stay with her long-term boyfriend, Harley.
2.3 Direct Competition
Victoria’s Secret SWOT Analysis Strengths Very concise website – layout is simple, easy to use with plain text Very good photography levels Attractive models Lots of deals, sales and offers to allure customers Plenty of different styles, sizes and designs of bras and underwear Good story behind the name of the brand Clear layout of choosing size, cup size, colour and adding to basket Sizes AA-DDD, good range Different/plenty of navigation choices around the website Feature to choose preferences with styles of bra’s which generates styles recommended for you Bra size guide Gift card can be delivered in ‘special box’ Can check gift card balance online Start account, website refers to you by name, add items to ‘love list’ Can send your favourites by e-mail Over 400 million copies of their catalogue on mail order by customers a year Models and campaigns are targeted at women not men High quality High within promotion, catwalks, apps, Social Media Opportunities Campaigns targeted at men Gift industry Even more products with branding Virtual dressing room
Weaknesses Models have ridiculously in-shape bodies that are difficult to relate to when picturing yourself in the underwear The questions on the bra guide are vey easy to see which is the ‘wrong’ size when answering questions. Gift card very straight forward E-mail received for choices is very plain and simple, doesn’t encourage purchase for ‘special someone’ Models have been slated online that the images are Photo Shopped and unrealistic High prices
Threats Brands/eBay stores copying the designs and selling for cheaper As Britain becomes increasingly obese each year, less women will buy brands a) endorsed by skinny women and b) designs for small women, no plus size Faces of Victoria Secret – the ‘Angels’ could released negative press at any point and ruin brand image
Livi Rae Strengths Listen to their audience – FAQ’s, YouTube channel with questions and advice. Available on difference social media platforms – YouTube, Facebook, Twitter Able to log in to retrieve previous online bra fitting Good range of photos of the same woman in different fitting bras when you take the quiz 6 easy questions – not too exhaustive 50’s theme fitting throughout website and videos ‘Most popular in your size’ recommendation after taking the quiz Thorough section about men buying for women and what to look for Written well, seems personal and friendly Press page, impressive to see a few sites that have featured Livi Rae Section that gives optional ‘Sign Up for the Newsletter’ this isn’t forced or trick you into signing up Likeable owners that are involved in the business and website Offers a good range of products. Different types of bras, accessories and corsets etc. Comical puns eg. ‘Tit-torials’ that some may find amusing Partnered with a local hotel, ‘Embassy Suites’ to offer good rates to their customers – could combine with the gift of underwear Offer parties in store for large groups ie. Bachelorette One store for purchases in the shop Opportunities Recruit someone that is able to enable the website to become more high-tech – keep up to date with technology Open another store to help the business grow Celebrity endorsements or hooks within higher levels of press Online technology for virtual
Weaknesses Business name stemmed from their two daughter’s names ‘Livi’ and ‘Railey’ – this is shown on their ‘About Us section’ – it doesn’t have a relevant or exciting story behind it. For a website that men can use to buy underwear for women – the colour scheme and layout of the website is very feminine which would be off-putting for a man Poorly staged home videos – not professional Women are in 50’s and trying to target women in 20’s – not relatable, dull 50’s theme not parallel with their customers Selling PVC corsets next to everyday t-shirt bra – a little odd Models of all different ages – difficult to appeal to all audiences, should choose one Some models are headless, some are heavily edited using Photo Shop, some are low quality – lacks consistency 2,000 word section on lessons for men buying for women – this is far too much information men would easily get bored Gift Card choice is so basic and very bland, simply a card with the logo on No choice for men to buy ‘sets’ for women. The categories are ‘Bras’ and ‘Thongs & Panties’ – to find a matching set would have to be searched for Pants come in S M L XL – men would have no perception of what each size means. Section for ‘ratings and reviews’ most read: ‘No reviews have been written yet.’ Self-promoting the fact no one has reviewed. Online section about Custom Orders – only to click and find out they’re only available in store. Section about how men shouldn’t be cheap when buying underwear – no option for someone who doesn’t have such a large disposable income. Brief description of the parties they offer in store – gives no real explanation of the cost or what it entails Very explicit photo of one of the owners spilling out of a corset – a little inappropriate/ too much information Only one store, growth minimal
Threats Supermarkets are offering lingerie at affordable prices Big brands with more technological websites such as virtual fitting rooms are attracting a more secure fit Shops that are exclusive to in store ensure 100% perfect fit with trained staff Stores are creating apps and smart phone accessibility for easier customer access More well-known brands have a lot more advertising Different brands have more up to date social media
dressing rooms Different markets related eg. Erotic novels, sex toys, bedroom toys and accessories Expand to target other countries Create links with more hotels or similar ventures Create package deals
platforms Celebrity endorsed products become more desirable Very simple to start up websites these days â€“ easy competition can arise
3.1 Benefits and Needs Ansoffâ€™s Matrix New Products
Existing Products Market Penetration
Published on May 29, 2014