1: Necessary Information Needed to set out this Clothing Business:
There are many necessary information needed to set out such clothing Business. These include creating the market, positioning its products, splitting the management, creating a marketing plan as well as pricing the market/products. With this necessary information, this clothing business is set for success.
First off, this business needs to create a market and by doing so it must set and prioritize its objectives concerning what share of the market it will try to capture and by segmentation as well. This is necessary because the business will need to set objectives concerning the targets; Men, Women, and Children for desirable apparel. This involves setting aims and targets, these aims will give a sense of direction or purpose. Possible types of profiler segmentation can be geo-demographic, psychographic, demographic or geographic. These will help in segmenting the market so the business can better understand its target.
Second of all, the business needs to position its products. By doing so, a product policy can be of service. 1) It needs to find out what people want and the styles or how they would like to wear the clothing. 2) Decide what the clothing should look like, this means the clothes designs are up to date and suitable for the designated targets. 3) Making sure pricing is right for the target. Not only creating the market and having a keen understanding of the targets and positioning the products necessary information, but also splitting the management and building a marketing plan.
Splitting the management will allow specialization to take place and by doing so the business must split the management into sections or departments. This can be done with an organizational chart, where the internal structure of an organization and how an organization is...