Assimilated a retail marketing plan that was centered around a department store that sells high quality clothing merchandise. This marketing plan was developed by my team at Old Dominion University during my junior year. It included the retail format, target market, market analysis, SWOT analysis of the market, a competitive analysis, a competitive advantage, a retail strategy, store management, and a financial projection.

1. Business Plan: Inoubliable
By Tiani Pannell, Joshua Carter, Dalonte Mason, Lindsey Chester,
Scottie McTague, and Kim Stewart

2. Retail Format
• Department store
• deep assortment
• purses (primary product)
• clothing
• shoes
• jewelry/accessories
• broad variety
• various luxury brands
• Louis Vuitton, Gucci, Fendi, Levi’s, Jimmy Choo, etc.
• Lifestyle focus
• each department categorized around a particular lifestyle
• apparel and accessories of the more modern variety will be grouped

3. Retail Format
• Employees
• staff will be knowledgeable on fashion
• up to date on trends, wear stylish clothing, etc.
• makes the customer more assured they can offer proper assistance in
choosing products that fit their needs

4. Target Market
• Mirror that of similar stores in the High End Department store category
• Main Target
• Female
• Ages 20-50
• Upper Middle Class
• Secondary Target
• Millennials
• Both Male and Female
• Younger age range

5. Market Analysis
• Highly Competitive Business
Environment
• Keys to competing in our Market
• creating customer experiences
• have competing prices
• fashion newness
• high quality products
• Location
• Strategies
• Execute customer strategy
• Maintain customer relation
• Maintain inventory
• Responsiveness to business
environment
• Marketing and Advertising
• Google AdWorks
• Use of Social Media

6. Market Analysis: SWOT
• Strengths
• Customer
• Care for Customers
• High Standards
• Excellent Distribution
• Weakness
• Competitors
• High Level of Standards
• Keeping up with fashion trends
• Opportunities
• New products
• New services
• New technologies
• New Relationships
• Threats
• Change in trends
• Substitute products

7. Competitive Analysis
• Competitors
• New York and Company, and Nordstrom, Saks Fifth Avenue
• Barriers to entry
• Trade barriers, and saturated market

8. Competitive Advantage
• Location
• Human resources
• Supply chain
• Brand Image/customer loyalty

9. Retail Strategy
• Create Product awareness by:
• Web based marketing
• Outdoor advertising
• Offer lower prices than competitors
• Manufacture products Overseas
• Create in-house labeling
• Generate different focus groups
• Generate more product knowledge
• Improve products and services
• Create window displays
• allows customers to envision
themselves in the products
• Focus on those customers who are willing
to pay full price
• Focus on those customers who are loyal
• Create a lasting impression with your
customers

10. Merchandise Management
• Managing merchandise planning
•forecast sales
•assortment plans
• Buying merchandise
•national brands
• Store management pricing
•high/low pricing
• Communication Mix
•television, social media, and Youtube

11. Store Management
• FreeForm Layout
• Space and Walkways
• Customer Service/Training
• Store Management

12. Financial Projection
• Because we are focusing on apparel and accessories, we aim to achieve gross
profit ratio around 50%
• aim to achieve $30,000,000 in gross profit and approximately $60,000,000 in
net sales
• Anticipate our operating expenses to be rather high
• extensive training of our staff is a factor in this
• Inventory turnover
• comfortable level; items will have little trouble being purchased
• ROA
• will need to fall between 7% - 9%

13. Funding Request
• Our own funding
• Debt Financing
• Return on Investment

14. Work Cited
Gay, Stephen. (2014). “Distinguishing your Brnd in a Saturated Market.”Retrieved from:
http://www.viasarfatti25.unibocconi.eu/notizia.php?idArt=14343
Gay, Stephen. (2014). “Distinguishing your Brnd in a Saturated Market.”Retrieved from: http://www.viasarfatti25.unibocconi.eu/notizia.php?idArt=14343
Levy, Michael, and Barton Weitz, and Dhruv Grewal. (2014). Retail Management. Mcgraw - Hill.
Lynch, Jason. (2015).”Why TV Is Still the Most Effective Advertising Medium
Key findings from MarketShare study.” Retrieved from: http://www.adweek.com/news/advertising-branding/why-tv-still-most-effective-advertising-medium-165247
MarketingChartsStaff. (2013)”US TV Ad Spend and Influence” Retrieved from: http://www.marketingcharts.com/uncategorized/data-dive-us-tv-ad-spend-and-
influence-22524/