KORRA DANCEWEAR
Prabhnoor Singh
250786520
December 3rd, 2014
Scott Lin
Section: 003
Executive Summary
The major challenge facing Karolina Swietoniowska of Korra Dancewear is running a business with limited funds. This is a problem as Karolina will not be able to attract potential customers who do not have any idea about the existence of Korra Dancewear. This lack of clientele will result in Karolina not being able to earn a profit. There are five essential choices that Karolina must do in order to guarantee the success of Korra Dancewear. They are: Introduction
Karolina Swietoniowska faces three major marketing challenges in her establishment of Korra Dancewear. She needs to establish her brand, arrange pricing model, as well gain …show more content…
Karolina has had small revenue over the past years, and is limited upon her budget to invest into company, and thus spend on marketing. Requiring Swietoniowska to pick an effective way to advertise with her limited funds, and chose an option of distribution to achieve her sales goal. In comparison to her local competition, such as Ainsliewear, she doesn’t have the establishment or the financial resources to compete with their marketing methods, and their variety of apparel. However, this further extends her need to select a core target market that is large enough to prove beneficial, and has remained unconsumed. Korra will also need to create an effectively established brand, which is both a problem for the core business model, and a challenge. As potential consumers in certain markets will not be attracted to her venture due to credentials. Operations wise, she has high fees in producing in Canada, but no restrain on capacity, and transferring production into China will require minimum of 300 SKU orders. It is important to focus on quality for branding, and word of mouth requires a strong product, to be effective. Thus, kinks in China must be figured out in order to expand production with cheaper costs. Korra has limited relationships with producers and established individuals in the dancewear industry, but is able to seek advice from family and friends. Besides …show more content…
Korra is competitively priced against Ainsliewear, one of her three direct local competitors in 84 retail locations across Canada, and 105 retail locations in the United States. (Please see Exhibit 1a) Mondor, another competitor is a premium price apparel company, in several hundred retail locations around the world targeting specialized athletes, which is good for Korra, as it does not interferer with her new target market. Bloch, is an affordable and internationally well known brand that also sells children’s dancewear apparel ranged from $9 to $38. (WE DON’T KNOW MARGINS, OR
Prabhnoor Singh
250786520
December 3rd, 2014
Scott Lin
Section: 003
Executive Summary
The major challenge facing Karolina Swietoniowska of Korra Dancewear is running a business with limited funds. This is a problem as Karolina will not be able to attract potential customers who do not have any idea about the existence of Korra Dancewear. This lack of clientele will result in Karolina not being able to earn a profit. There are five essential choices that Karolina must do in order to guarantee the success of Korra Dancewear. They are: Introduction
Karolina Swietoniowska faces three major marketing challenges in her establishment of Korra Dancewear. She needs to establish her brand, arrange pricing model, as well gain …show more content…
Karolina has had small revenue over the past years, and is limited upon her budget to invest into company, and thus spend on marketing. Requiring Swietoniowska to pick an effective way to advertise with her limited funds, and chose an option of distribution to achieve her sales goal. In comparison to her local competition, such as Ainsliewear, she doesn’t have the establishment or the financial resources to compete with their marketing methods, and their variety of apparel. However, this further extends her need to select a core target market that is large enough to prove beneficial, and has remained unconsumed. Korra will also need to create an effectively established brand, which is both a problem for the core business model, and a challenge. As potential consumers in certain markets will not be attracted to her venture due to credentials. Operations wise, she has high fees in producing in Canada, but no restrain on capacity, and transferring production into China will require minimum of 300 SKU orders. It is important to focus on quality for branding, and word of mouth requires a strong product, to be effective. Thus, kinks in China must be figured out in order to expand production with cheaper costs. Korra has limited relationships with producers and established individuals in the dancewear industry, but is able to seek advice from family and friends. Besides …show more content…
Korra is competitively priced against Ainsliewear, one of her three direct local competitors in 84 retail locations across Canada, and 105 retail locations in the United States. (Please see Exhibit 1a) Mondor, another competitor is a premium price apparel company, in several hundred retail locations around the world targeting specialized athletes, which is good for Korra, as it does not interferer with her new target market. Bloch, is an affordable and internationally well known brand that also sells children’s dancewear apparel ranged from $9 to $38. (WE DON’T KNOW MARGINS, OR