Splendid Technology and Fashion Ltd (Term Paper Sample)

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This is a business plan for \"Splendid Technology and Fashion Ltd\" for the business year 2014/2015

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Content:

splendid technology & fashion limited
Business plan
Private & Confidential
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March 2014
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Table of Contents
TOC \o "1-3" \h \z \u HYPERLINK \l "_Toc383546815" 1. Executive Summary PAGEREF _Toc383546815 \h 2
HYPERLINK \l "_Toc383546816" 2. Industry, Target Customer, and Competitor Analysis PAGEREF _Toc383546816 \h 3
HYPERLINK \l "_Toc383546817" 2.1 Industry Description PAGEREF _Toc383546817 \h 3
HYPERLINK \l "_Toc383546818" 2.2 Target Customers PAGEREF _Toc383546818 \h 3
HYPERLINK \l "_Toc383546819" 2.3 Competitor Analysis PAGEREF _Toc383546819 \h 5
HYPERLINK \l "_Toc383546820" 3. Product/Service Plan PAGEREF _Toc383546820 \h 5
HYPERLINK \l "_Toc383546821" 4. Marketing Plan PAGEREF _Toc383546821 \h 5
HYPERLINK \l "_Toc383546822" 5. Operations and Development Plan PAGEREF _Toc383546822 \h 6
HYPERLINK \l "_Toc383546823" 6. Critical Risks PAGEREF _Toc383546823 \h 7
HYPERLINK \l "_Toc383546824" 7. Offering PAGEREF _Toc383546824 \h 7

Executive Summary
Splendid Technology and Fashion Ltd is a firm that will involve manufacturing of sewing machines that are electronic along with making Kandora. Kandora is a type of fashion attire that the business aims at producing for its target market. The business will aim at providing the latest trends of Kandora wear for males ranging from two years and above. Splendid Technology and Fashion Ltd will also provide a machine that is fast, easy to use and less tasking to all business people who are willing to make their businesses increase in productivity through technology. The business aims at producing a Kandora in just five minutes, which is only possible using technology in the form of a computer driven sewing machine. The third aspect of the business targets business people who are interested in the latest fashions in Kandora wear who will be encouraged to visit the firm’s premises to view the different trends and fashions in Kandora. The business faces a lot of competition from companies like Kenwood, Arison, General, Sony, and LG that deal in electronic equipment.
Yet, this competition exists in a dynamic environment on both technology and fashions but the business aims at succeeding because of the way it intends to use technology to support its fashion business. With all modes of product and service delivery, the business aims at satisfying the needs of its target customers. The business plan entails the options of selling its products, which includes face-to-face sales and trial product sales. This is possible because the products are fast enough to increasing the outputs of users per unit time. Several risks are likely to face the business. These include the challenge of new fashions and manufacturing technologies, the high prices, and imitation from Western fashions and styles. The business will need a starting capital of 1,500,000 Dhs. This amount will be allocated to technical employees (500,000 Dhs), purchases (400,000 Dhs), employment of specific officers (100,000 Dhs), and precaution or contingency (500,000 Dhs).
2. Industry, Target Customer, and Competitor Analysis
2.1 Industry Description
Splendid Technology & Fashions Ltd will operate in a dynamic and competitive market involving two industries: technology and fashion. Because of this combination, the technology side of the business will drive the fashions side of the business. That is, all transactions involving selling clothes, buying clothes, et cetera are solved using technology solutions. Technology industry is the most dynamic and advancing today. The fashion industry is equally changing so rapidly because the ever-changing tastes that people have about clothes or fashion in general. Since technology is rapidly growing, most services the company will offer to its clients will be using technological equipment or devices. On the other hand, the demand of new fashions of clothes is ever on the rise as more people begin to want to wear newly fashioned clothes.
2.2 Target Customers
The business has two products for sale, the machines, and Kandoras. Therefore, it will have two types of customers starting with males who wear Kandoras and business people who own tailoring shops. Most of the customers willing to buy the kandura will be the local male youth. They will be made available for different age groups ranging from two year olds males to adult males and Arabian Gulf males (Down, 2000).
Eventually, it was a requirement for every Emeriti to wear a Kandora. However, globalization revolution has led to introduction of western fashion and most Emeriti youth (men) prefer the western trends compared to traditional Kandora. It is the aim of the business to prepare trendy and appealing Kandora in order to ensure that more men buy them. More people have begun to wear Kandoras especially those who understand Arabic. The Kandoras have also gained more preferences for special events and occasions. So emeriti who follow the traditional fashion wear the Kandoras every time and the Emeriti who follow the west fashion wear the Kandoras for special events. This means both groups will wear Kandoras (Fusaro, 2000).
The company will ensure that there is high value for the products. Moreover, the business will ensure that customers receive the best customer service. Deliveries will be made to customers at request either via telephone or by visiting the offices. The customers are assured that they will receive their Kandoras within five minutes after visiting the offices. The customer care department will carry out a customer satisfaction evaluation after every three months where customers will receive a brief questionnaire to fill out. Additionally, the questionnaire will cover product quality to allow for feedback from consumers.
Besides this group of customers, individuals who own tailoring shops will act as the secondary consumers. They will contribute to the business by purchasing clothes from the firm to sell to their customers. Furthermore, other shop owners may want to visit the premises to learn more about fashion and Kandoras will be charged a small fee, which will assist him in bettering his own business.
Out of this category of clients, the ranking of the target customers from the primary to secondary are-
Local youths (male)
Males of all ages
Males from Arabian Gulf
Shop owners who buy Kandoras
Shop owner interested in fashion and learning about Kandoras
Shop owners who buy machines
2.3 Competitor Analysis
In the area of technology, competition will come from those individuals and/or companies that might want to start making tailoring machines. Companies like Kenwood, Arison, General, Sony, and LG are electronics companies are and potential competitors to Splendid Technology and Fashions Ltd. In fact, they are a primary threat in the sense that they have been in the business of making professional electronic machines for years now. However, Splendid Technology and Fashions Ltd is established in a region where Kandora is common besides others traditional clothes. The business will need data gathering and analysis about Kandora as a fashion that can meet the fashion needs of its customers (Jackson, 2002).
Product/Service Plan
The Kandora tailoring machine is a powerful equipment controlled by a computer. This is in alignment with the business’s intention of using technology to drive its business of making and selling fashion products, mainly, clothes. The benefit of this machine is to make a Kandura very quickly --in approximately 5 minutes. The tailor just needs to take the customer's measurements and feed them onto the machine causing the Kandora to ready after 5 minutes. At this speed, the business can output about 100 units of Kandora within the normal 8-5 working period. This means in a week’s time, the business will have produced about 500 pieces of Kandora that are ready for distribution. The machine could create different styles of Kandora depending on what the customer wants. It is also able to suit current enhancement and trends in the market (Smithsonian Institution, 2001).
Marketing Plan
The product will help the tailors by saving their time and make a lot as possible Kandoras in less time. The benefits of computing in the fashion industry are many but for this particular business, efficiency and effectiveness will be essential. The price will be high because it is a new technology machine whose parts are expensive. Therefore, for this reason we can use two ways to sell the machines. The first way is personal sales strategy, which means personal face-to-face contact with the owners of the tailoring shop to explain clearly the benefits of our product and how the machine will help them. The second way is trial period strategy, which means give the machine to the owners of the tailoring shop for 1 day to understand the machine’s benefits.
Operations and Development Plan
There are steps that to follow in order to create an industrial machine. The first step will involve designing the machine. The company will require moulded aluminium to make the injection. There will be a requirement to purchase copper, chrome, and nickel, which is useful to make certain parts of the machine. The metals are useful to make a motor. The industrial machine has a basic part that houses the machine itself. The part is known as a bit it is made of iron using a computer numerical control machine (CNC). The CNC is in charge of creating holes and putting in components appropriately (Skyhorse Publishing, 2007).
Manufacturing the bit requires steel mouldings, heat-treating, grinding and a lot of polishing to ensure that there are meticulous terms to house the components. When designing the machine, factors such as w...

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Splendid Technology and Fashion Ltd (Term Paper Sample)

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