Company Introduction, Market Segmentation, and Product Positioning Essay

Company Introduction, Market Segmentation, and Product Positioning - Essay Example However, today, it has expanded to immeasurable lengths. For a young company that is barely ten years old, the financial performance is excellent. It had opened three other branches in other states including Ohio, Michigan and Massachusetts. However, the company has also opened a branch in Australia which is thriving like its mother company. The company distinguishes itself as fast fashion trademark and offers high fashion clothing to reach the public at affordable prices. The Company’s mission statement is ‘when the customer looks good, we look good.’ In light of this, the main aim of the company is to ensure their customers look trendy and thus keep up with fashion (London Business School, 2008). Trendy Fashionista has over 500 employees in all their five branches. Additionally, it boasts of a wide range of customers from all backgrounds. The clothes sold are not the average clothes found in cloth stores. The company’s fashion designers go an extra mile t o make clothes that are unique. This coupled with the fact that the company sells its clothes at fairly cheap prices makes Trendy Fashionista the perfect destination for a fashion conscious individual. Marketing Plan Introduction The fashion industry is ever changing due to contribution of companies like Topshop, H&M and Zara (Helm, 2008). Consequently, factors affecting the clothing industry will influence trends in the high fashion world. In the clothing industry, customers’ preferences vary according to their ages and body types. Furthermore, the demand for clothing is affected by population size and patterns. It is important to note that demographic trends are the driving force in the fashion. The company puts all these factors into consideration before setting up their market plan. Financial Goals The most important goal for Trendy Fashionista over the next ten years is to increase its revenues by at least 40% each year. This way, the company shall make at least 50% in p rofits and hence be a profitable business. Furthermore, the company intends to start online shopping. It has been realized that most shoppers would rather shop online due to their hectic schedules (London Business School, 2008). Additionally, it intends to expand its manufacturing capabilities. At the moment, once the fashion designers finish their job, the company has to outsource manufacturers. Therefore, the company needs to start making its own clothes. Furthermore, the company intends to increase its distribution and possibly open one more store in Australia. This will take care of the growing clientele base in Australia. Finally, the company intends to start taking part in community development. The founders are passionate about developing the community and thus the target is to set aside $10,000 to be donated to various Non Governmental Organizations. Non Financial goals The company intends to introduce a new product line, lightweight luggage. After a lot of research, the com pany has discovered that today’s traveler is tired of heavy luggage. Therefore, the company’ designers have been working on a new product that will lighten the traveler’s experience and if possible make the experience enjoyable. The luggage has been customized not only be easy to carry but also easy to improvise. For example, the product comes with an inbuilt charger which can be converted into a phone. The biggest challenge that the company has so far is that it lacks an internet