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    Marketing plan for teen lingerie

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    Executive Summary
    A1. Identify the business name and location.
    Business Name: Pink Kitten , Location: New York ( US). Our business idea is of providing fashionable and innovative teenage lingerie. According to a survey conducted in Australia every 4 out of 5 females i.e. 80 % of the females wear wrong bra size. An ill-fitting bra does more than spoil the look of the sexy outfit that you just bought, as a 16-year-old from Bandra discovered. The teenager, complaining of a severe, constant, deep dull ache, travelling down her arm and extending to the back of her head, consulted Dr Raashi Khatri-Panjabi, founder of The Centre for Orofacial Pain India, Juhu and Kemps Corner. Various diagnostic tests were conducted and after all other factors were eliminated it was found that the bras this girl was wearing were to blame.
    She adds that the ill-fitting, heavily padded bra that her teenaged patient would pick up put undue pressure on her trapezius muscles" a triangular muscle that extends from the base of the skull, across the back of the neck, upper shoulders all the way down the back to nearly the waist level. "The poorly-fitted bra can can cause problems ranging from a lower spinal pain to constant headaches," explains Dr Khatri-Panjabi.
    hazard," she adds.
    Most common Problems caused by wearing wrong size are:
    • Shoulder/arm complaints;
    • Tension across the shoulders and neck,
    • Headaches,
    • Cervical spine problems and also lower back pain.
    Hence globally there is a requirement of health friendly lingerie
    Also as per business insider in US "Retailers are leading a major shift in the way women's intimate apparel is purchased. Growing demand for better service and shorter delivery times will play an increasingly important role." US market is dominanted by brands like Victoria's secret, Hanes wear, Maidenform and Warnaco. Sales from the 13 to 17-year-old age group represented 11% of the total in U.S. http://www.businessinsider.com/everything-you-need-to-know-about-the-rapidly-growing-lingerie-industry-2011-1?op=1#ixzz2xA31gS00
    A2. . Describe the mission, goals, and objectives of the business.Mission:
    Our mission is to give the discriminating lingerie shopper what she is looking for, whether it be fit, comfort or style, in an atmosphere that is comfortable, exciting and satisfying.
    To be able to up-sell a higher quality product that they may have seen in a fashion magazine, by educating her on the better durability, construction and fit.
    To derive Business, make Profits and work for the well-being of children by offering health related innovation in pre-teen & teen Lingerie
    Innovations offered by our Brand:
    Thermal technology which keeps you warm in winters:
    For correct Posture:
    Moisture wicking fabric

    A3. Discuss three keys to the company's success.
    Our brand is coming up with new and innovative ideas to make you look and feel your best, whether by designing super flattering bras which gives you a sleek silhouette or by developing clever products which keeps you cool when its warm and warm when its cool.
    We have developed the following technologies to address various health issues :
    • Heatgen : This range of thermal innerwear gives you a warm extra layer and keeps you warm when it's cold.
    • Sportsgen: This range of super comfortable shaping sportswear keeps you looking and feeling great with moisture wicking fabric.
    • Perfect Poise: This range has been specifically designed to increase your awareness of correct posture by supporting your shoulders and bust.
    Differentiation & Core Competencies:
    • Innovations and Health Benefits of Teenage Bras apart from their design
    • Services like Free Bra fitting service, Free Advisor, Education Booklets
    • Use of latest technologies.

    Company Summary
    B1. Describe the history of the industry in which the company will operate.
    As per business insider, "The U.S. intimate apparel market represented $10.7 billion in sales in 2009, up 5.3% year over year outperforming apparel sales growth due to growth from players including JC Penney, Wal-mart, Target, Kohl's and of course, Victoria's Secret. Sales in the intimate apparel category are expected to grow about 7% in 2010 according to a new report from Citi." The U.S. represents 30% of the global intimate apparel market and 20% of total apparel sales. About 50% of the business is done in bras followed by underwear and sleepwear each at 25%.
    B2. Identify the legal form that the company will take.
    We will have a Limited Liability Company.
    "LLC owners, called "members," can manage their businesses or hire professional managers. In addition, LLCs enjoy a lot of flexibility. For instance, they can have as many members as they like, and corporations are allowed to be members. LLCs enjoy freedom from the state-mandated membership and management reporting requirements that corporations have. Most important, LLCs do not have to pay taxes. Instead, their profits and losses are passed through to their members' individual tax returns in the same way as a partnership. As a result, members enjoy the advantages of avoiding the "double taxation" of corporations as well as receiving tax relief from the poor performance of their LLCs."1
    Here members have the limited liability. However, LLCs must report their revenues and earnings annually to the Internal Revenue Service in a Form 1065, which the IRS then uses to check against members' tax filings. Unlike simple partnerships, LLCs must register with their state secretary of state. LLCs enjoy the same advantage as simple partnerships in being able to structure and run themselves in an way they see fit. All owners are protected from financial liability, regardless of whether they play an active role in the direction of the company.
    IRS Recognition
    LLCs don't exist as a tax-filing entity. When it comes to tax reporting, by default LLCs report as partnerships do -- like LLPs. Alternatively, the IRS allows LLCs to elect to report income as corporations do. LLCs usually report as partnerships since that's the key to pass-through taxation and avoiding double taxation.
    Advantage of LLC:
    1) Hybrid structure
    2) Members have limited liability.
    3) No Separate tax entity.
    Disadvantages of LLC:
    1) It can have limited life.
    2) Members have to pay their own taxes.
    LLCs are suitable for promoters wanting to have limited liability. This is suitable for small organizations.
    1. http://smallbusiness.chron.com/limited-liability-partnership-vs-limited-liability-company-3736.html
    2. http://www.sba.gov/content/limited-liability-company-llc
    B3. Describe the location and type of facilities needed for the company.
    Location will be high street market in New York. We have chosen New York because of the favourable size and demographic profile of the market. We will work with schools, college and universities too to sell our innovative offerings. One will require following facilities:
    1) Retail Office.
    2) Sampling and Designing equipments.
    3) I/T team and other administration staff.
    B4. Describe the management structure, including key personnel
    We will have directors who will be handling the strategy and supervision of staff. Staff will include customer service officers, merchandizer, designer, support staff and information technology personnel. Key things that senior management must do to effectively run the business are:
    1) Planning
    It involves laying down the targets and standards for the organization.
    2) Organizing
    This involves allocation of resources.
    3) Leadership
    It will include setting up the vision, mission and strategy of the organization.
    Leader has to guide and motivate employees to achieve the organizational objectives.
    4) Controlling
    This involves comparing the actual results with the standard results. It will also
    include taking the corrective action.

    Our philosophy will have following elements:
    • Honesty and Adhering to the business ethics
    • Creativity and Fun at the work place
    • Satisfy the needs of stakeholders
    • Hiring right kind of employees
    B5. Products and Service: Explain the primary product(s) and/or service(s) your company produces and any unique attributes they may have.


    A. Market Analysis
    (3-5 pages)- The market analysis section of your business plan should demonstrate that you know your customers.

    C1: Target Market- Describe the current market for your company's product.
    C2: Industry Analysis - Discuss the characteristics of this industry such as growth trends, units sold, or employment.
    C3: Competitive Analysis- Describe your company's current competition.
    B. Market Strategy
    (3-6 pages) Describe how product, price, place and promotion related to the products/services offered by the business.
    D1: 4Ps.
    Discuss the pricing, product, promotion and distribution of your product
    D2: Price List-
    Develop a price list for the products/services offered.
    D3: Selling Strategy-
    Develop a selling strategy with goals, milestones and deliverables.
    D4: Sales Forecast-
    Develop a Sales forecast based on expected market conditions.

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    Solution Preview

    I have outlined some ideas for you. You should modify them based on your own research and ideas about your product. The sales forecast section should be taken as a basic idea of how it should look, not on the actual numbers used.

    A. A. Market Analysis
    (3-5 pages)- The market analysis section of your business plan should demonstrate that you know your customers.
    C1: Target Market- Describe the current market for your company's product.
    The current market is teen girls who wear bras are about to need to wear bras. These girls can range from ages 12-20. One specific area to target are the teens who blog, especially about fashion and trends of teens. Their readers will be targeted as well, because of the growing popularity of blogging from "real" teens with real teenage problems.
    C2: Industry Analysis - Discuss the characteristics of this industry such as growth trends, units sold, or employment.
    This industry is growing and younger women are looking at style and value. Women's apparel is always a highly competitive industry, but for lingerie, it can be particularly competitive. Niches are an important aspect for many companies. Victoria's Secret is a primary leader in most categories, while they hold the fashion world in awe of the designs for style and comfort. They continue to innovate a more comfortable bra. However, VS is expensive, especially for teens and young adults.
    Growth is expected to continue to grow as the economy recovers. However, teens are seeing more need for comfort and realizing they can get this through companies that will address their needs specifically. Teens are so determined to have the style and comfort they want, they are willing to start their own lines. Megan Grassel's Yellowberry line is a hit. Hanesbrands have been ...

    Solution Summary

    Using the categories supplied, a review of a marketing plan for a new product, comfortable bras for teens.