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ADVERTISING The MEN’S WEAR Shop
WHERE ARE WE NOW?
We are planning to launch a Men’s Wear outlet called “Exclusive Men’s Wear”. The
products that we will be offering in our shop are going to be everything related to men’s
comfort. We will offer the widest range of men Pants, Shirts, Ties, Belts, Shalwar
Kameez, Suits and Undergarments in this shop. All kinds of above mentioned clothes
will be available both imported and local. Artistically designed Gifts packs will also be
available at our shop.
We will also make a corner inside the shop, which will be dedicated for taking precise
measurements for the customized items. In this part of shop we will be having rolls of
cloth in different materials and colors out of which customers could chose for their
customized product.
We think that this sort of shop should be highly demanded amongst the middle class
and upper middle class males of Pakistan because every male from these classes
needs all that we have to offer. Almost all the males who to buy clothes does not often
find all sorts of the above-mentioned items in an appropriate manner, and even if they
do, then not under the same roof. We hope to offer stylish, color full, affordable and
comfortable types of MEN’S WEAR under one roof. May that be Tea-Shirts, pair of
trousers, pair of pants, shirts and undergarments both loose and fitted. We see a big
chance of this shop succeeding, may be not within the first year that we open up but
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ADVERTISING The MEN’S WEAR Shop
surely after that if we keep providing what we promise to offer and with an effective
marketing strategy we think we can make profits and earn a good reputation!
Our management team is as follows:
UMAIR…………………………………….………Marketing Manager
FAIZAN ………………………………………….. Designer
USMAN……………………………………………Finance Manager
HAMZA……………………………………………Research and Customers feed back
In the first year, we might be facing some losses and we will be earning
almost no profit. We are going to be in a financial crisis for almost two years
because we will be investing a lot but the payback will be very little. A very
little example is the huge amount that we will have to pay as the rent of the
shop that we are opening up in F-7 Markaz.
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ADVERTISING The MEN’S WEAR Shop
OBJECTIVES
Maximize profits.
Make available all sorts of MEN’S WEAR under one roof.
Charge prices which are affordable but not too low
Make a good name in the market in the long run and earn customer loyalty.
Be one of a kind and be the first to offer what we are offering and maintain our
services now and in the future.
Target the upper class, middle-class. Foreigners come under our target market
too.
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ADVERTISING The MEN’S WEAR Shop
“To provide customers, with a friendly environment and provide you with best quality
masculine products, all in one shop. We will make available any style of MEN’S WEAR
you want us to provide!”
INTRODUCTION TO MEN’S WEAR SHOP
The service that we are providing is basically that we are opening a shop, which will
provide consumers with all kinds of designer masculine garments. We are going to sell
gift packs for our products which would help in bringing out the exquisite look of our
products.
Basically we are launching this shop because we think there is a need for a shop in the
market, which sells all types of masculine wear under one roof.
Lot of males said that it happens a lot of times that they go into stores looking for a
particular item and they are told to go to another shop because only that particular item
is not available in that shop and thus they try another two shops only finding out that the
product they were looking for is not available in the market. We want our buyers to know
that when they step into our shop they will leave with the product of their choice in their 4
ADVERTISING The MEN’S WEAR Shop
hands. Even if the demanded item is not available, we will get it made on order,
because we would like our consumers to help us in knowing which product they prefer.
We will be renting a shop in the beginning so that we can earn a little profit and eventually
purchase a shop. The decision on whether we purchase or rent another shop depends on how
much profit we will make in our first shop and we will see from which places our customers are
visiting us most. For example, if we have a lot of customers coming from the sectors F-10 and
F-11, we may purchase a shop in the developing market of F-11 which is supposed to become
the center of Islamabad in the coming five to ten years, but right now our plan is to open up this
MEN’S WEAR in King’s Arcade plaza.
MARKET ANALYSIS
Our target market is the upper class, middle-class and foreigners. This is because we
are selling the best quality products with most diversified range. The ready made
products in our shop would start from Rs.500 – Rs.15, 000.
We are planning to open up our shop in an area, which is already developed and is
already the main market of Islamabad, the F-7 market. We cannot open up our shop
inside Jinnah Super because no shops are available there therefore we plan to open up
our shop very near to it in a plaza called the “King’s Arcade.” This area is foreseen to
become very popular due to the fact that it is so near Jinnah Super and a lot of people
are already visiting this area very frequently. Also, an advantage of operating our shop
in F-7 is that most of our target market, lives either in F-7, F-6 or F-8; these sectors are
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ADVERTISING The MEN’S WEAR Shop
very close to each other and F-7 is the main place where these people and especially
foreigners do their shopping from.
However, in the long run, we hope to make a lot of money, gain a good reputation in the
market and earn customer loyalty. Loyalty exists when a customer, because of past
experience, is sufficiently satisfied with a retailer or shop that he or she buys from that
same shop when the demand or need arises for a particular product, without
considering other alternatives.
The combination of people in the market is constantly changing. It is difficult to
anticipate whether what worked yesterday will work today and it is especially difficult to
anticipate whether a new emerging outlet will work in the market.
A few things that we have found out about the consumer buying-decision process are
that:
o Consumers make an action to buy something when they feel they need it.
o The consumers spot alternative shops and places where they can buy the same
or alternative products.
o The buyers always weigh the pros and cons of the alternatives they have seen.
o The consumer always wants reassurance that the choice was the best one that
they could have possibly made.
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ADVERTISING The MEN’S WEAR Shop
ECONOMIC ANALYSIS
The literal position of our economy currently is that the upper class and the elite class of
Pakistan are richer than the government itself. This means that they have the ability to
spend as much as they want. They might have other shops where they can find the
same sort of products but when it comes to a brand name we don’t have any competitor
around, if provided what these customers want, they certainly have enough money to
purchase it!
Even though, the economy of Pakistan is improving, the purchasing power of the people
is still the same. People who fall under the low class bracket are earning wages as low
as Rs.1500 per month (even lower in some cases). Obviously our shop is not catering
and targeting these people.
Some facts about consumer behavior are:
o For all product categories, people in a given income bracket spend significantly
more money than those in lower brackets.
o In each successively higher income group, the amount spent for food declines as
a percentage of total expenses.
We agree that the economy of Pakistan is doing better than it was previously. However,
this does not mean that our business will do well as well too. Our basic target market
makes up only 5-7% of Islamabad, and it is not necessary that all of these people will do
shopping from our shop.
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ADVERTISING The MEN’S WEAR Shop
The external environmental factors, which we are concerned about before opening up,
our shop, are:
o Economic conditions: purchasing power, unemployment rate and circulation of
money make economy of a country and affect every business in way.
o Demographics: it includes age, income, culture, gender, education, family size, religion,
living standard etc.
COMPETITOR ANALYSIS
We have a quite extensive range of competitors, which includes different outlets selling
foreign and local brands. Anybody selling masculine wear is a competitor to us. Our
competitors also include the little corners in the shops in most of the markets of
Islamabad, which also sell some unbranded products such as undergarments. For
example, Jinnah Super and Super Market in general. Diverting people from our
competitors to our shop will certainly require a high quality standard and customer care.
They will only come to our shop when they need a product, which is not available
everywhere. Therefore, now we will have to look forward to providing such good quality
items that has never been seen before in Islamabad.
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ADVERTISING The MEN’S WEAR Shop
A list of our Competitors
Competitor Nature Price Quality
Junaid Jamshed
Jinnah Super Islamabad
They mostly sell Shalwar Kameez and Groom Dresses Shoes and some ladies garments too
Not too expensive except for few Good
Amir Adnan
Jinnah Super Islamabad
They mostly sell Shalwar Kameez and Groom Dresses
Not too expensive except for few
Excellent
Deepak Parwani
Jinnah SuperIslamabad
They mostly sell Shalwar Kameez, Groom Dresses, Shoes and some ladies garments too
Not too expensive except for few
Good
Outfitters
Jinnah Super Islamabad
They sell Ties, Pants, Shirts, Belts
Moderately priced products are available
Good
Stitches
Jinnah Super Islamabad
They sell Ties, Pants, Shirts, Belts
Moderately priced products are available Very
Good
Textellion
Blue Area Islamabad
The products available are better than the rest available in local market. They do have some variety but not the required level of quality.
Some of their products are too expensive but others are moderately priced.
Good
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ADVERTISING The MEN’S WEAR Shop
Intimate
Super Market Islamabad
The items are of better quality.Almost all the sorts of MEN’S WEAR items are available, which are demanded in Islamabad.
They sell relatively cheaper products than the above mentioned competitors. Good
G.Q.
Jinnah Super Islamabad
They mainly sell suits and Shalwar Kameez
A normal range and affordable products by our target market. Very good
G.M
Jinnah Super Islamabad
They mainly sell suits and Shalwar Kameez
A normal range and affordable products by our target market. Good
Crystal 2
Super Market Islamabad
The items are of better quality.Almost all the sorts of MEN’S WEAR items are available, which are demanded in Islamabad.
They also sell relatively cheaper products.
Good
POTENTIAL THREATS
The potential threats that “ MEN’S WEAR Shop ” can face are :
If we charge very high prices then customers will not buy from our store.
It is very probable that people would rather go to the closest store and buy any
non-branded products or a close substitute of what they were looking for, thus,
we will really have to focus on making our marketing strategies very effective, so 10
ADVERTISING The MEN’S WEAR Shop
that we actually get customers in our shop and that we are able to sell out
products.
The little corners/stalls in shops are a threat to us too. That the customers will
make purchases from these stalls with a close substitute of the product that they
wanted to but they will not travel a great distance. This is especially true for the
older generation.
The biggest threat is of not being demanded in the beginning.
Another threat is that we can foresee that we will not be making profits for at least
one year. This is because, it will take us time to see what the consumers want
and what they do not demand and vice versa, it will take the consumers time to
adjust to the fact that they can always come to the “The Exclusive MEN’S WEAR
Shop” and buy whatever they want, rather than going to different shops and still
getting substitute products but not what they actually wanted.
MARKETING STRATEGIES
In order to capture the attention of the public and make them aware of The Exclusive
MEN’S WEAR Shop we will have to market our shop very effectively. We will have
to advertise in various ways and through different means. We will have to advertise on
television, radio (FM.98), maybe even online on Pakistani sites and billboards. This
means that we will be using both the electrical media and the paper media to get to our
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ADVERTISING The MEN’S WEAR Shop
customers. We have to make our advertising very effective due to a lot of local and
foreign competitors.
Advertisements capture the major area of marketing strategy and we will be
introducing our shop with attractive advertisements. As the MEN’S WEAR shop
targets male’s category and age group of society therefore we will be coming up
with three or four different advertisements for different age groups.
TYPES OF ADS:
Radio Adds:
We will advertise on FM 89 between 9 pm to 12 pm because at that time the number
of listeners is the highest and advertising at that time would be very effective.
Newspaper Adds:
According to a research it has been found that the highest number of readers of a
newspaper is on Sunday. It’s a little expensive to advertise on Sunday as compared to
other weekdays but for effective marketing of our shop we have to bear such expenses.
Banners:
We will place the banners of our shop almost at every road signal, places like Hotshots,
f-9 Park, Melody Food Street, Jinnah Super, F-10 Markaz, Blue Area etc.
Broachers:
We will be distributing the broachers at homes and outside colleges and universities.
Special Packages and offers will work effectively to capture the market and earn
their loyalty, these packages include:
Free home delivery service. We will deliver the customized items.
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ADVERTISING The MEN’S WEAR Shop
We will place our banners and posters in main markets and road signals and
parks.
It has been observed that music is actually attracting people
The most effective strategy for attracting customer is to offer special discounts and
packages for special occasions like: Weddings, Wedding Anniversaries, Birth Days,
and Valentine’s Day.
Advertising Agency:
The advertising Agency from whom we will take the services isThis agency will provide us main theme that we will use in our advertising and besides it we will also the advertising through bill board and their size, colour, theme and every thing will be choosen after the decision taken mutually by this advertising agency and our firm.
PRODUCT LINE
We have seven basic product lines.
1. Shalwar Kamiz
2. Trousers, Pants and Jeans
3. Shirts and T-Shirts.
4. Suit
5. Under garments
6. Belts
7. Ties
8. Perfumes
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ADVERTISING The MEN’S WEAR Shop
MEN’S WEAR:
Shalwar Kameez:
The shawar Kameez at our outlet would be branded stitched by our tailors named
Exclusive Men’s wear. This would include embodied as well as simple dresses of
different styles, available in all sizes and of course also available at customers request
i.e. customized.
Price: Rs.1500-Rs.6000
Trousers, Pants and Jeans
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ADVERTISING The MEN’S WEAR Shop
Trousers, Pants and Jeans include both formal and casual wear which would be
branded and available in all sizes and also available at customers request i.e.
customized.
Price range: Rs.1000-Rs. 2500
Shirts and T-Shirts
These would be available in different styles, branded, all sizes and different colors,
which would include formal and casual wear.Price range Rs.1500-Rs 3000
Suits and Long Coats
A separate Fabric would be available at the outlet and it would be the choice of the
customers of the fabric they choose and the style they want us to make for them.
Price range Rs.3000- Rs.12000
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ADVERTISING The MEN’S WEAR Shop
Undergarments
The undergarments would be branded and would include vest (both round neck and
sleeveless), fitted under wears (of sizes Medium/Small/Large), boxers and warmers.
Price Range Rs.350- Rs.2500
Belts
The Belts would be available in different sizes with large and small hooks of different
styles, double sided. They would be branded and only made of leather would be
available.
Price Range: Rs.500-2000
Ties:
Ties would be available with nearly all colors and of different styles and made of
different fabrics including silk, polyester and pure cotton.
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ADVERTISING The MEN’S WEAR Shop
Price range Rs.500-Rs.3500
INCOME AND SALES FORECAST
SALES FORECAST
This graph is showing the sales forecast for the first five years after launching the shop
on 1st January 2005
For the first year the sales are of rupees 61,000, 62,000 for second year, third year
64,000, 68,000 for fourth year and for the fifth year the sales will be of rupees 70,000.
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ADVERTISING The MEN’S WEAR Shop
INCOME FORECAST CHART
Income forecast chart clearly shows the stages of profit and loss in the first five years of
launching the shop.
In the first three years we will be having loss; fourth year will be the ‘break even’ point
and then it is very likely that we earn profit from the fifth year.
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ADVERTISING The MEN’S WEAR Shop
FINANCIAL STATEMENTS
BALNCE SHEET
Balance Sheet as on 1st January 2004
Assets
Cash 450,000Inventory 200,000Equipment 120,000Furniture 80,000Car 110,000
960,000
Liabilities
Bank Loan 510,000
Owners Equity
Capital 450, 00
960,000
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ADVERTISING The MEN’S WEAR Shop
INCOME STATEMENT
Income Statement for the year Ended 2005
Rent Expense 400,000
Electricity Charges 72,000
Telephone Charges 48,000
Maintenance Expense 30,000
Advertisement Expense 20,000
Salary Expense 96,000
Fuel Expense 1500
667500
Sales Revenue 610,000
610,000
Net Profit: (57,500)
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ADVERTISING The MEN’S WEAR Shop
FINANCIAL ANALYSIS
As we expect this business plan to be implemented in the start of year 2004, some
necessary predictions have been made based on some assumptions.
Financial Analysis 2005:
Rent Expenses:
The shop that we have selected costs Rs.400, 000 annual rents. Business is expected to
spend Rs.33, 300 monthly for the rent expense.
Electricity Charges:
Electricity charges are expected to be particularly low because of the fact that we
have not decided to keep the environment of the shop bright. Monthly electricity
charges that we have assumed are Rs.15, 000 that makes a total amount of Rs.120,
000 per year.
Telephone Charges:
Telephone Charges that a commercial shop incurs are in the range of Rs.4000 –
Rs.6000. In our financial statements we have assumed an expense of Rs.4000
monthly. This makes a total of Rs.48, 000
Maintenance Expense:
Commercial Shops usually need a lot of expenditure on maintenance. Since in the
beginning the expenditure on maintenance is generally low we predict our monthly
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ADVERTISING The MEN’S WEAR Shop
expenditure on shop to be around an average of Rs.2500. Annually it makes a total
amount of Rs.30, 000.
Advertisement Expense:
Advertisement expenditure for the first year is expected to be high - cheapest
advertisement methods would be adopted. Advertisement expense is focused on
monthly basis.
Fuel Expense:
We would only be required to use our transport system while delivering out products
to the customer. We don’t expect our fuel expenses to exceed Rs.1500 per month.
Total annual expense is predicted to be around Rs.18, 000.
Salary Expense:
We plan to hire two people for taking care of the shop. Each person would be given
Rs.4000 per month. Annually it makes a total amount of Rs.96, 000.
RECOMMENDATIONS
Charge relatively low prices in the beginning to gain customer loyalty and
satisfaction.
Look for profits in the long-run
Charge prices high enough to make profits or at least reach equilibrium and
prices should be such that people can afford them.
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