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Today, your manager (Mr. Smith) reveals that you will be assigned to a team/group to assist the company with its quest to implement a new clothing line of women's swimsuits. He explains to you that the team/group should research the procedure for implementing a new clothing line and explain the models and heuristics that would help the company get the new clothing line of women's swimsuits running.

The first step in this project is to discuss which of the business procedures would work best for the company's implementation of the new line of women's swimsuits using the Small Group Discussion Board. Each member should submit his or her own ideas, but the business procedure should be chosen by consensus. The team/group should combine each member's contributions and decide on a particular strategic option.

The team/group should divide all the research up fairly, so each member of the group is doing the same amount of work. All business procedures, models, and heuristics must be covered. The team/group should also elect one member to be the group leader. The group leader will submit the final group portion of the project.

Individual Portion
For the individual portion of the project, you must submit a report in which you research a particular business procedure and explain the models and heuristics that would help the company get the new clothing line of women's swimsuits running.

Discuss:

â?¢Discuss the team/group consensus on the business procedure chosen.
â?¢Discuss, in your own words, the business procedure you recommended, and why.
â?¢Explain which decision-making model would work best for the implementation of your companyâ??s new clothing line.
â?¢Explain which heuristic(s) would work best for the implementation of your companyâ??s new clothing line.
â?¢Discuss your group's decision-making ideas.
â?¢Discuss awareness and the bounded process associated with the implementation of your companyâ??s new clothing line.
â?¢Give at least 3 recommendations to the team/group that would help the company get the new clothing line running.

This is a list of topics that my group leader want to be covered to complete the assignment. We need to pick one procedure and one heuristic to research.

The decision making models
â?¢Rational Choice
â?¢Bounded Rational
â?¢CVF
â?¢System 1
â?¢System 2

The Heuristics
â?¢judgement
â?¢availability
â?¢representativeness
â?¢Affect
â?¢risk and loss aversion

So I selected these two - I need help here:
â?¢ Bounded Rational
â?¢ Risk and loss aversion

Each person needs to pick one procedure and one heuristic to research as their part of the group deliverable. Enough time to do their own individual deliverable after the completion of the group project.

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The response addresses the queries posted in 1180 words with references.

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The response addresses the queries posted in 1180 words with references.

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The response addresses the queries posted in 1180 words with references.

// A women's apparels manufacturing company wants to launch a new clothing line that is swimsuits for women. For this purpose, different procedures, models and heuristics are discussed among the small discussion group. Here we would discuss the one best business procedure which is chosen as per the group's consensus.//

There are various business procedures available for any apparel manufacturing firm. To choosing the best among all of them is heuristic task for any team. As the company has decided the product that is swimsuit for women, the team would decide over the other aspects of business procedure which are as follow:

Marketing Strategy

Target Market: The target market for this product, that is a swimsuit, will be sports enthusiastic women and women belong to elite classes. Along with that women living in offshore areas are also be targeted.

Positioning: As the target market includes sports enthusiastic women, the product can be positioned as performance sports brand. Along with that it will also be positioned as lifestyle/fashion brand based on style and excellence in making best swim-wear.

Product: Premium quality swim suits made of using innovative high technology and high quality fabric.

Price: Premium price will be decided for the product as the company has targeted elite class and offering a high quality premium product.

Place: The product would be sold at the sports stores, retail stores at regional, national and international level. The company can also open its own flagship store and collaborate with designer chain.

Promotion: The Company would use an aggressive promotion strategy with high budget. It can sponsor world class sports events and can make a strong brand image world-wide. Along with this, endorsements by famous athletes, celebrities and fashion designers will also work in its favor (Ferrell & Hartline, 2008).

Production Strategy: For ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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