Thursday, July 23, 2020

25A – What’s Next?

Existing Market:

  1. As mentioned before what I plan on doing in the future is creating an extension online where customers could pair different pieces in a virtual model to see what outfits they could create before or after they purchase the clothes. Also have a photo gallery with outfit ideas and you can click on it to be redirected to the page of the specific clothing article.
  2. After interviewing the three customers what they said where things they saw next for this business where expanding the product line to include workout pieces, dresses, and more bottoms. Also, one mentioned expanding the color line to include light pink, baby blues, and soft colors.
  3. Growing in my existing market will include adding product lines for dresses, skirts, activewear, etc. Also, experiments can be done with incorporating color in the brand, primarily soft colors in a way that keeps the pieces timeless and elegant. I also think incorporating the virtual software in which customers can pair pieces together and create outfits would be helpful in growing the user interface of the website and attract new customers within the market.
New Market:
  1. Targeting lower income women ages 18-30
  2. Value can be create for people in this market by having lower prices and maintaining the good quality. 
  3. The interviewees mentioned that having something like this venture would be great for them because what they can find now in the market is cheap quality clothes. They find that instead of having super formal clothes, that they would benefit more from casual and semi-formal clothes. 
  4. What i learned about this market is that i would have to adjust the product mix of the company to better adjust to the lifestyle of the market. I don't think it is attractive for a business concept like mines to enter this market because it would diminish the image and value of the brand. The whole point is to have good quality clothes for reasonable prices while being sustainable and not supporting fast fashion. Entering a lower income market would prompt us to cut costs at a certain level which would impact sustainability. 

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