M&S by morgansdavis

TABLE OF CONTENTS X. CONCLUSION

IX. FINANCIAL PLAN

IIX. PROMOTIONAL PLAN

VII. PRODUCT ASSORTMENT

VI. STORE DESIGN

V. MIAMI

IV. TARGET CONSUMER

III. MARKET ANALYSIS

II. COMPANY OVERVIEW

I. EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

â&#x20AC;&#x153;The retail industry is going through a profound period of change. Many of the actions we set out as part of our strategy three years ago, and have since implemented, put M&S in a stronger position to compete in this new world.â&#x20AC;? Robert Swannell Chairman

In 2012, Marks and Spencer rebranded themselves to target a younger consumer market. We accomlished this by creating a modern and stylish aesthetic with a focus on trend driven merchandise. Marks and Spencer has also experienced tremendous growth in the last year, not only domestically, but internationally as well. Because of this, we have decided to test out the American Market by creating a Pop-Up Shop in Miami, FL. This will both test our new younger tarket market and the American market as a whole. The pop-up shop will be located in Brickell City Centre. It will be open for six months from September 2015 - May 2016. 1

COMPANY OVERIEW

Starting life as a Penny Bazaar at Leeds Kirkgate market, M&S has grown to become an international, multi-channel retailer. “Beginnings: ‘Don’t ask the price, it’s a penny’ was the slogan Michael Marks used when he opened his first Bazaar in Leeds in 1884. When Michael went into partnership with Tom Spencer in 1894 the company’s values were broken down into quality, value, service, innovation, and trust.”1

II.

1900-1920: The outbreak of the First World War in 1914 meant that resources were limited so people really needed the buttons, needles and threads we sold to update their old clothes. 1

1920’s-1940: This was a difficult time in history for any business owner,especially retailers. The ones that fought through it and adapted to changes, made it. We began to reevaluate our consumers desires and adapt our product assortment. “We started to sell more of life’s essentials, including underwear. Since then the bra has become our most iconic product, with one in three women now wearing one bought from M&S.” 1

III. IV.

1940-1950: When the war broke our more obstacles were thrown at us in regards to low goods and not many employees. “In 1941, ‘Makeing of Civilian Clothing (Restriction Orders)’ meant we could use 5 buttons, 2 pockets, and 4 meters of stitching for every item. We learnt a lot, particularly how to offer quality under any circumstance.” 1

COMPANY OVERVIEW

H I S T O R Y

1950-1960: Glamour becomes a part of the fashion scene. “Optimism was epitomised by a new style of dress influenced by the Christian Dior ‘Corolle’ collection. This style came to be known as the New Look, because its daring form hadn’t been seen – and probably wouldn’t have been allowed – before.” 1 1960-1970: The possibilities in the era were limitless for us. “Innovations became widely available as new products moved quickly from research laboratories to the shelves. Uniquely, chilled - instead of frozen - chickens also moved quickly all the way to our refrigerated shop counters, always staying at a 4 degrees centigrade.” 1

VI.

1970-1990: The lifestyles of people, especially the modern woman, were changing. “More women were going out to work, so we made things easier by introducing good quality, nutritious convienance food, like soil-in-the-bag meals and microwave dinners. But even if the time was limited, it didn’t mean the menu had to be.” Even changes within our department stores were being made to fit the new lifestyles of our consumers.1

VII. IIX.

1990-Now: Competition began to increase drastically in numbers. “Believe it or not, the pudding is a real feat of food technology. Taking 18 months to develop, the real challenge was making sure the sauce wasn’t soaked up by the sponge around it. But success was achieved, and the result was a real hit with customers.” 1

B R A N D I D E N T I T Y M A T R I X

COMPANY OVERVIEW

798 UK Stores 455 International Stores

PRODUCT

ORGANIZATION

Diverse Quality Exanding Stylish Ethical Innovative

54 Territories

£10.3 bill. revenue ($13.01 bill) PERSON

SYMBOL

Sophisticated - Tailored - Modern - Motivated

£800.1 mill ecommerce ($1.01 bill)

B U S I N E S S M O D E L

COMPANY OVERVIEW

Marks and Spencer is a omni-channel retailer who sells womenswear, menswear, beauty, accessories, food, and home. Thousands of products are offered under each product category. For example, food along offers over 6,4000 products 4. The prices range from mid to high, and the products are of high quality. Each category offers a mix of European and American brands, and M&S’s own collections. M&S designs and manufactures all of its own collections in the U.K. . Overall, M&S is a unique department store with a strong business model. 4 4 One notable aspect of M&S’s business is Plan A. Plan A is a long-term plan to make M&S “the world’s most sustainable major retailer” 1. The initiative was launched in January 2007, and has since greatly grown. One of major growths Plan A has experienced is the creation of Plan A 2020. Plan A 2020 is essentially a more ambitious version of Plan A. It is focusing on making M&S’s international business sustainable 2. Highlights of the plan include making international operation carbon neutral, increasing energy efficiency from 35 percent to 50 percent per square foot, and adapting brick-and-mortar locations for future climate change challenges 2. 1 2 It has only been seven years since its launch, but Plan A has already made much progress. The initiative has received countless awards and recognition for its work. Three of the many awards Plan A and M&S have received are: (1) named “the most ethical high street clothing retailer in the U.K” by Ethical Consumer Magazine.; (2) received the Carbon Trust Triple Award (the first retailer to do so); (3) won Sustainable Business of the Year Award at The Environment and Energy Awards 2013 3. Plan A has no expected end date, and will continue to grow, gather awards, and change the retail world. 3

C O R P O R A T E S T R U C T U R E

M&S is a public, United Kingdom company that is massive in terms of merchandise assortment, number of locations, and corporate structure. The retail giant employs 85,813 men and women 2. Its head offices are located in London 3. M&S is governed by two bodies: the Board and the Management Committee. The Board consists of thirteen leaders, and the Management Committee consists of fourteen leaders. It should be noted that a couple of the leaders from both governing bodies overlap. The Board and the Management Committee share the same two goals: (1) create a strong governing system, and (2) support, or improve, the companyâ&#x20AC;&#x2122;s current and future business ventures. Both goals in turn contribute to the ultimate goal, create profit. The Board and the Management Committee work together to achieve these goals . Below are listed the current leaders (name and title) of the Board 1 and the Management Committee 1. 1 2 3

COMPANY OVERVIEW

D I S T R I B U T I O N The distribution center measures in at 900,000 sq ft and is capable of processing one million products every day, with around one-third of these coming through MarksAndSpencer.com. Some sixteen million products are held at the centre, with 1,200 people employed during peak perios such as Christmas and seasonal sales. Alan Stewart, cheif financial officer at M&S said, “We are transforming our supply chain operations to make them fit for the future of M&S as a leading international, multi-channel retailer. Our new supply network, alongside new systems and a best-in-class web platform will create a more efficient M&S able to deliver our products to customers in the right place at the right time, whether they’re at home or on the high street. We’re extremely proud of Castle Donington, it’s among the best of its kind in the world and our focus is now on delivering the rest of our modernisation programme.” The distribution center ships to all M&S brick and mortar locations. M&S currently has 798 brick and mortar locations in the United Kingdom, and 455 international locations in over fifty-four territories.1

COMPANY OVERVIEW

C O M M U N I C A T I O N

COMPANY OVERVIEW

Marks and Spencer currently uses many forms of media for their advertising. These incluse print, digital, social media, and event marketing. Under print media, we have ads in very successful magazine with a wide consumer base. Under digital media, we create many videos for both their YouTube videos and for television. We also have live video chats for their consumers to ask questions and connect with us We have multiple social media platforms including Facebook, Twitter, Instagram, YouTube, and Pinterest. Marks and Spencer is also known for holding many events within their store, many of which give back to the community. For customer relations, we recently launched a brand new Loyalty Club for consumers to become a part of.

P L A N S F O R G R O W T H Rebranding: In previous years, he average Marks & Spencer consumer has been about 40-60 years old. This is because M&S has such a strong brand identity and is known for outstanding quality. These two things appeal greatly to the 40-60 year old consumer. They desire products that will last a long time and are less concerned with visual athetics. Starting in 2012, M&S has begun to completely rebrand itself towards the younger consumer. Along with our focus on outstanding quality, we are now focusing on visual aesthetics as well. As a brand, we have become more sleek and modern. Our products we offer have also become more edgy and trendy. Because of this shift towards a younger consumer, we have decided to focus our 2015 Pop-Up Shop on the younger consumer. Food: M&S will also expand its Food business in Western Europe by opening 20 standalone Food stores in Paris over the next three years, and rolling out fresh food in Europe through its franchise partnerships. Steve Rowe, M&S Executive Director of Food, said: “M&S Food is in much demand globally. From toasted crumpets in The Hague to red wine in China, our international customers are very quick to tell us what their favourite M&S products are. This is why expanding our fresh food offer presents us with a strong growth opportunity.

Plan A: Part of our vision is Plan A, our 100-point eco-plan. It is the modern expression of how we do business and its values lie in our heritage. From encouraging healthy eating to creating fair partnerships and using sustainable raw materials; from managing waste and recycling to becoming carbon neutral – we want to continue making a difference.

International Growth: M&S plans to grow it’s presence in existing markets and also create new ones this year. We plan to focus on broadening our presense over seas, to America. We believe this is a chance for growth based off of how well our other international brick and mortar locations have been doing this past year. We will test the American market with a pop-up shop in Miami, FL.

S W O T

COMPANY OVERVIEW

1. Broad range of products, offering apparel, beauty, home furnishing, produce, and many more 2. Broad price range within product categories 3. Large distribution with international locations in Europe, Asia, and the Middle East 4. Committed to “Plan A,” our journey towards sustainability

1. Little brand awareness in countries not already present 2. Average consumer is older than new target market

1. Integrating technology into department stores 2. Creating an omni-channel experience in department stores 3. Focusing on customer relations

1. Economic downturn 2. Consumers chosing to shop at specialized store instead of department stores

UK US C U R R E N T P O S I T I O N I N G

COMPANY OVERVIEW

high accessibility

low price

high price

low accessibility

low price

high price

low accessibility

III

MARKET ANALYSIS

S T A T E O F I N D U S T R Y

P E S T E L Political

Department stores use to be the place to shop and socialize 2. Unfortunately, foot traffic, sales, and luster has declined over the years 1 2. Foot traffic has been the most significant loss because many, if not all, department stores participate in online retailing, which accounts for most of their sales 1. One of the factors behind the downfall of department stores is fierce competition. Competitors of department stores are specialty retailer, discount retailers, and e-commerce 2. Arguably, e-commerce is the biggest competitor of the three. E-commerce offers a wide array of products and a wide price range. This is the basis of department stores. Also, with the creation of mobile shopping, consumers can now shop anywhere, anytime 1. To combat the losses, department stores are repositioning themselves, and by doing so, revolutionizing department stores in general 2. Many techniques are being employed, including localization, incorporation of technology, renovating flagship stores, and evolving the retailer into a culture icon of its location 2. Due to revolutionizing of department stores, sales, foot traffic, and luster are slowly increasing 1. The future of department stores looks brighter. It is expected that department stores will expand by 22 percent by 209, which is equivalent to about 450 billion dollars 1. However, it will take much time and effort to bring department stores back to the forefront of retailing.

MARKET ANALYSIS

Economic

Social

1. 1.Proper registrations, licenses or permits any business can legally open 2.Businesses are subject to municipal, County, state and federal requirements. 3. Certificate of Use (Zoning Permit) is required, to ensure allowance to operate within its zoning district. 4.Local Business Tax Receipt

1. Popular tourist destination, especially during the winter months 4 2. International banking 4 3. Brickell Centre is known as the Wall Street of Miami 1 4. Miami International Airport 4 5 5. Many high-priced tolls 2 3

1. Increasing desire to interact with technology in store 2. Desire for convenient parking while shopping 3. Multiple languages spoken 4. Changing population and continual growth 5. International influences

1. The Lab Miami, Venture Hive, and Miami Entrepreneuralship Center 2. eMerge Amercia 3. Miami is soon to be known for inoovative technology 1

1. Different climate 2. Detrimental weather 3. Hurricanes that could possibly affect business and revenue 1

1. Alcohol requirements 1 2. Food product labeling/ packaging 3 3. Minimum wage is $7.25 an hour.

Technological

Environmental

4. Overtime pay is required. 2 5. Florida At-Will Employment 2 6. Florida Right to Work 2 7. The Fair Labor Standards Act (FLSA) 2 8. Family Medical Leave Act (FMLA) 2 9. Occupational Safety and Health Act (OSHA) 2 Legal

P O L I T I C A L Within Miami Dade County many of the factors an costs that M&S needs to take into consideration are the zoning permits, tax laws including property tax and federal, county and state requirements. All must be cleared by the county in order to start any business in downtown Brickell for our pop up shop. The potential of one of these factors failing or not being approval could seriously hinder our opportunities of expansion. It is pertinent for the M&S Miami team to gather the resources and funding needed to execute our pop up shop efficiently and within the city of Miami’s legal requirements. 1

E C O N O M I C

MARKET ANALYSIS

In terms of the economy, the positive factors outweigh the negative. The most significant factor is Miami is a popular tourist destination for both U.S. and international citizens 4. It is a particularly during the cold winter months 4. Another positive factor of Miami’s economy is the city is a capital of international banking 4. It has the, “largest concentration of domestic and international banks on the East Coast south of New York. Brazilian, British, Canadian, French, German, Israeli, Japanese, Spanish and Venezuelan banks have offices in Miami-Dade County” 4. Brickell Centre in particular has the reputation of being the Wall Street of Miami 1. It has 53 banking offices that are a mixture of domestic and international banks 1. Tourism and banking helps the Miami International Airport (M.IA.) be one of the busiest airports in the U.S. 4 5. To be exact, it is ranked at number twelve of USA Travel’s “25 Busiest Airports in the USA” 5. The M.IA. also, “has the largest number of international passenger traffic after New York City’s JFK International Airport” 5. However, like every economy there are negative factors. The one significant factor is there are many high-priced tolls scattered throughout Miami and Florida 2 3. The prices of the tolls range from 50 cents to 10.50 dollars 2. Currently, there are approximately eleven tolls just in Miami 3. More tolls are going to added along Florida’s busiest expressways 2. Also, the toll operators of Miami, the Miami-Dade Expressway Authority, is planning to add lanes reserved for travelers who pay extra 2. This will affect consumers’ disposable income. However, since the positives outweigh the negatives, Miami’s economy is perfect place to do business.

S O C I A L

With Brickell’s continual growth in resident and visitor size expected changes to come consist of international influences in government, retailer’s assortment, human resources and technology implementation. Another factor to consider is with the continual growth in population, the rates of parking increase while the conveniences of parking decrease, making the overall shopping experience more difficult and less enjoyable. Fortunately we are located in Brickell City Centre, a mecca for shopping with an underground infrastructure for parking, allowing our consumers to worry about one less aspect in their lives. 1

T E C H N O L O G I C A L

MARKET ANALYSIS

Miami is a huge technological hub. There are many already established co-working spaces including The Lab Miami, Venture Hive, and The Miami Entrepreneurship Center. These labs are working on creating new innovations on a daily basis. There are also many initiatives to put Miami on the technological forefront. In May of 2014, the Technology Foundation of the Americas (TFA) will host eMerge Americas, which aspires to be The Americas preeminent technology conference. According to Diane Sanchez, the CEO of the foundation, “eMerge Americas will bring thousands of participants to Miami including the world’s leading technology companies and decision makers from throughout the Americas region. Our purpose is to highlight and act as a catalyst for establishing Miami as the technology hub for the Americas.” 1

MARKET ANALYSIS

E N V I R O N M E N T A L Miami is very suseptable to detrimental weather, and Marks and Spencer must be aware of this. Hurricanes can have a costly effect on businesses. Not only will sales suffer during huricane season sue to poor weather conditions, but hurricanes can also destroy property. In 1992, Miami was hit by hurrican Andrew and the cost of damages were estimated at $26.5 billion. Much of Miami was unprepared for the change in path of hurrican Andrew and they suffered greatly. M&S will not be open during hurricane season, however we should still take this into consideration. If a hurricane hits Miami on a massive scale before M&S opens, it could have a detrimental impact on foot traffic and ultimately our sales volume and profits.1

L E G A L Overall, there are no unique laws M&S must know before entering Miami. The laws M&S must know are the standard labor laws (minimum wage, overtime pay, The Fair Labor Standards Act, etc.), and laws concerning alcohol and food 2. On every display case and cooling container that contains alcoholic beverages, a visible sign should be warning consumers against the dangers of consuming alcohol posted 3. This sign is called the “alcohol warning sign” 3. As for food, all packaging of food must have a label that identifies three factors: “the commodity, unless readily identifiable through the package; net quantity of the contents; and name and place of business of the manufacturer, packer and distributor” 1. Also, the experation date, meat identification, Kosher identification, and weights and measurements must be identified for consumers. Anything that is stated on the food packaging must be true 1. 1 2 3 Although these laws are standard, they are extremely important and should be completely. followed.

D I R E C T C O M P E T I T O R S

MARKET ANALYSIS

All of Marks and Spencerâ&#x20AC;&#x2122;s U.S. competitors are located either in or near Miami, Florida, except for Belk and Bon-Ton, which do not have any brick-and-mortar locations in Florida. Most of the competitors are located outside of Miami because the cost to do business in the city is high, especially when a large area of retail space is required for an indefinite length of time. However, Miami has multiple, high-priced tolls scattered throughout and around Miami, causing travelers to spend hundreds of dollars a month on tolls. This causes some people to avoid traveling far distances via car as much as possible. Overall, competition in the Miami area is low. Since the Marks and Spencer Miami pop-up shop is only temporary, the price to do business in Miami will not be as a high as other permanent retailers in the area. Another positive of being located in Miami will eliminate many of the high-priced tolls to many people, enticing them to shop at Marks and Spencer rather than another retailer that is surrounded by tolls. Also, the more money consumers save, the more money they can spend at Marks and Spencer Miami.

I N D I R E C T C O M P E T I T O R S

Marks and Spencer will have several indirect competitors while in Miami. Our main indirect competitors will be the other shopping locations that will be inside Brickell City Centre. Along witht that, we will also have to be aware of the resuraunts that will be nearby. Since produce is a large part of our product assortment, we will have to be aware of not only the resuraunt in the area, but also grocery stores and anywhere else that sells food. Whole foods will be our biggest competitor when it comes to food as they offer similar products. We will also need to be aware of retail locations that sell furniture. Ikea will be our biggest competitor when it comes to furniture. There is one Ikea that is located in Miami and it is also new to the area. We will also need to consider how the average American spends their disposable income. One of our biggest competitors when it comes to this is entertainment. The average american spends about 4.49% of their income on entertainment while they only spend about 2.99% on apparel. This means that we not only have to be aware of the entertainment competitors in our area, but also provide our consumer with entertainment while in our store.1

MARKET ANALYSIS

TARGET CONSUMER

Male or Female 25-45 Middle Class Some college or college graduate Single or Married With children or without Values a healthy lifestyle Busy Lifestyle Like Convenience Uses technology daily

C O N S U M E R P R O F I L E S David Richardson 37 Years old Single Works at an advertising firm as the Marketing Coordinator Also is a freelance graphic artist on the side Makes $51,188 a year Uses Technology every day

TARGET CONSUMER

Becky thomas 28 Years old Married with two children Stay at home mom Husband is a dentist Household income of $82,000 a year Enjoys cooking healthy meals for her family and decorating their new house Enjoys using Pinterest

MIAMI, FL

D E M O G R A P H I C S Brickell City Centre “We believed in the area’s unique international character and unparalleled environmental attraction.” - SWIRE PROPERTY GROUP

3M Sq Ft Comprising artfully integrated office, retail, residential, and hotel Brickell CityCentre is destined to be the prime focal point for this increasingly prosperous residential and business district.

MIAMI, FL

D E M O G R A P H I C S Miami is a city located on the Atlantic coast in southeastern Florida and the county seat of Miami-Dade County. The 42nd most populated city proper in the United States, with a population of 419,777, it is the principal, central, and most populous city of the Miami metropolitan area, and the most populous metropolis in the Southeastern United States after Washington D.C. According to the U.S. Census Bureau, Miami’s metro area is the eighth most populous and fourth-largest urban area in the United States, with a population of around 5.5 million. (figure 4) Brickell is in the heart of the financial district comprised of nearly 80,000 residents and 222,000 pedestrains daily, it is quickly becoming Miami’s new hot spot. Perfectly poised to enable retailers to reach Brickell’s affluent residents and visitors, Brickell City Centre will be a welcome addition to an underserved area that is increasing in appeal thanks to the rapid growth, prosperity and density of its local and visitor population. Careful attention to transport linkages means the project can also be easily accessed from other areas of Miami, placing all of Miami’s affluent neighborhoods within convenient reach of the retail center and all that Brickell City Centre offers.

D E M O G R A P H I C S

P S Y C H O G R A P H I C S

Since Brickell is a newly developed area, residents of Brickell are innovators. They are always after the newest and greatest thing, whether that be a new smart watch or a new organic fresh market in Miami. Our target market of ages 25-45 also have a yearly income of about $49,015. (figure 1) This allows them to have a large disposable income to be able to spend on the newest products and services. Within Marks and Spencer, we will have digital touch screen displays where consumers can view our wide assortment of products and even order merchandise for delivery to their doorstep. This will attract the innovative consumer living in Brickell.

Average Household Income: $90,602 Median Household Income: $54,557 Percent Increase/Decrease in Income Since 2000: 39% Percent Increase/Decrease in Income Since 2010: 16% Average Household Net Worth: $439,264 Median Home Sale Price: $286,700 Sales Tax Rate: 6.905% Average Household Total Expenditure: $64,327

MIAMI, FL

E S T I M A T E D C O M P E T I T I O N

Most of M&Sâ&#x20AC;&#x2122; future competition lies in the incoming retailers that will take up space in Brickell City Centre. The shopping center alone is 565,000 square feet allowing other department stores to take up just as much space. Nearby popular shopping plazas such as Mary Brickell Village propose a smaller threat in terms of product offering and experience. Mary Brickell Village is mostly comprised of locally owned-boutiques and restaurants on a much smaller scale.

MIAMI, FL

A R E A A T T R A C T I O N S Downtown Miami pulsates with activity as commercial, cultural and leisure pursuits come together in the fastest growing area in Miami. Innovative skyscrapers line the sky and make up Miami’s iconic skyline. Historic shopping arcades and storefronts packed with merchandise evoke Miami’s origins as a trading town. Downtown Miami department stores and emporiums offer big city shopping with a cosmopolitan flair, while the area’s diversity inspires dining delights in a variety of culinary styles. And of course, there are the amazing views from everywhere in Downtown. Downtown Miami’s collection of skyscrapers shares a view of Biscayne Bay that’s worth a million bucks. Ride the free elevated Metromover through downtown and stop off at Bayside Marketplace for lunch and shopping. Make time to visit one of the downtown museums such as History Miami or the Miami Art Museum. The Downtown Miami Area is made up of several parts; the Brickell area, an international banking hub as well as a metropolitan residential community of tall buildings, hip bars and restaurants, and an internationally diverse group of residents; Omni, a blend of residential, commercial and hotels including the magnificent Adrienne Arsht Center for the Performing Arts; Park West, the Bicentennial Park area; and the Miami Jewelry District.

L O G I S T I C S & I N F R A S T R U C T U R E

MIAMI, FL

Our M&S Miami location will be housed within the infrastructure of Brickell City Centre, a new development coming to the financial district, owned and developed by Swire Property Group. The center will provide us with a 10,000 square foot space with the option to make adjustements in structure within certain guidelines and with their approval. The center also provides our consumers with an underground parking garage capable of containing nearly 3,000 vechicles at any given time. There is also the option of valet for a slightly higher price. In regards to transportation, downtown Miami is the strategic location for rapid transportation. Thousands of people beat daily traffic utilizing the elevated transit systems – Metrorail and Metromover. There is direct, quick access to the Interstate I-95 and I-395 highways, PortMiami is directly adjacent to Downtown Miami and Miami International Airport is just 20 minutes away by car or rail. Capital improvement projects including streetscape redesign, wayfinding signage, and bicycle and pedestrian enhancements make Downtown even easier and safer to navigate. Downtown Miami ranks amongst the Top 10 places in the U.S. for walkability. The recent addition of the Miami Trolley - a free and frequent local circulator - provides convenient stops on every block. Car sharing systems have taken Downtown Miami by storm with many young residents and professionals enjoying the freedom of being car-less and embracing the new way of getting around with cars that can be rented by the minute.

H U M A N R E S O U R C E S The M&S team is striving to make our hiring process for both the employers and future employees a fun one. We plan to post our job listings on our M&S Miami Facebook page along with boosted notifications about our recruiting event that will be held in our store. Applicants will send their resumes, a cover letter and reasons why they would like to work for the brand to our hiring team and 75 will be asked to come for a second interview. Once they have been interviewed applicants will be narrowed down to 50 and selected to work a total of 6 months with promise of a future position if we meet our goals. Those selected will receive goodie bags with promotional materials, start date information, expectations on how to dress, performance standards and goals needed to be met. We value everyoneâ&#x20AC;&#x2122;s opinions. Our new employees will have a part in every aspect of the operations process from store layout to visual merchandising changes and fluidity. Out of the 50, 3 will be selected for the management team(salary positions): a store manager, a co-manager and a sales lead. The average store manager makes anywhere from $37k-45k/yr, the average co-manager makes a median income of $32k/yr and the average sales lead makes $28-30k/yr within the city of Miami. Two visual merchandisers, one for interior design and another for fashion will be selected to manage their given categories. Visual merchandisers in the city of Miami generally make $55k/yr. The remaining 45 employees will be split into part-time employees averaging from $9.50-11/hr depending on experience. One thing that will have to be taken into consideration is the salaries of our management and visual merchandising team, essentially being cut in half due to the 6 month time period. We will not be providing health benefits or insurance for our pop up shop simply due to the short amount of time it will be provided and the long amount of time it will take for the logistics to be processed.

MIAMI, FL

L E G A L I S S U E S

In regards to the legal issues we might face, licensing, permits and shop drawing approvals are our biggest concerns. Each business or individual regulated by the Department of Regulatory and Economic Resources must submit a completed application, pay the required license, registration, or permit fees, and provide the applicable supporting documentation in order to obtain a license, registration, or permit to engage in the type of occupation or business applied for. Should we need any contracting work completed or building trades, an inspection is required prior to covering up any part of the construction and our plans and permit must be at the construction site and the address properly posted and visible from the street. Inside the pop up shop we have decided to use an elevator, not only for convenience but to take advantage of profit available per square foot. Permits are required by the state to implement an elevator, alteration and repairs must be performed regularly to ensure the safety of our shoppers and we will need a certification of operation in order to begin. All permits, licensing and trades are additional costs that we need to take into consideration when executing our budget. Although the fees are miniscule in comparison to all other costs, the fees add up quickly.

MIAMI, FL

Licenses: $315 Miami-Dade County regulates many types of businesses, including contracting and the building trades, and forhire transport companies. Other businesses are regulated to protect consumers, ranging from locksmiths to moving or towing companies. In addition to local Miami-Dade County licenses, many businesses are also regulated by the State of Florida. Each business or individual regulated by the Department of Regulatory and Economic Resources must submit a completed application, pay the required license, registration, or permit fees, and provide the applicable supporting documentation in order to obtain a license, registration, or permit to engage in the type of occupation or business applied for. Contractors & Building Trades for our store- $100 Contractors and tradesman working in Miami-Dade County are licensed by Miami-Dade County’s Contractor Licensing Section. More than 100 different types of licenses are issued within six major license categories. An inspection is required prior to covering up any part of the construction. Inspections are performed from 8 a.m. to 3:30 p.m., Monday through Friday. Your plans and permit must be at the construction site and the address properly posted and visible from the street Temporary Elevator Permits- $75 All permits for new construction, alteration and repairs, as well as Certificates of Operation will be issued by MiamiDade County Office of Elevator Safety. Miami-Dade County Office of Elevator Safety will monitor and regulate all elevator activities, as required by law. Shop Drawings for approval: A complete application with: Shop drawings - doors, skylight, or glass block systems marked; a process number; and the total number of doors, skylights or glass block systems being installed. (If the shop drawings are required as part of a “master permit”, include that master permit number in the application) Two copies of plans or elevations indicating the size and location of all doors, skylights or glass block systems to be installed, and indicating the mean roof height of the building. The plans shall include the following: Identify the size and “product approval number” of each unit used; Indicate the required positive and negative pressure of each window/door being used or (If tied to a master permit) The permit plans may be submitted if the plan contains the information requested above. Rent Cost: 10,000sq ft $65(per sq ft)=$650,000/12 months= $54, 167 per month x 7% tax ($3,792)= $57,959 a month Total: $347, 754 (for 6 month period)

STORE DESIGN

At Marks & Spencer Miami it’s all in the details from our reflective black floors to the chandeliers on the ceiling and the crown molding on the walls. Our key values focus on in-store experience, quality customer service and a unique style selection in the departments of men’s, women’s, produce and furniture. Our pop up shop, housed in the Brickell City Centre, will be opening in the heart of the financial district in Miami, Florida. M&S Miami has been localized to suit our Miami shoppers and their lifestyle yet still portrays our British heritage. When entering the store our shoppers are greeted by our large holiday display with colorful fiberglass mannequins and oversized gift boxes. The bottom floor accommodates men, women, beauty shoes and accessories. When taking the elevator to our second floor the departments of furniture and produce are partitioned by a frosted glass wall, dividing the space yet allowing a feeling of openness. Our location in the Brickell City Centre allowed us to push our limits and add on to the space by including an outdoor café and lounge. The cafe is comprised of 6 cocktail tables, 12 bar stools, a full kitchen and grill with an in-house chef and a seating area with a fire pit. Our menu features refreshments, cocktails and tapas style food for brunch and dinner with ingredients directly from our produce section. This allows our consumers to try before they purchase any unfamiliar British delights. Overall we want our customers to feel a sense of excitement and newness while shopping with Marks and Spencer Miami.

E N T R A N C E

The first floor layout is categorized by departments: men, women, accessories and beauty. We have intentionally created a grid layout to mimic their traditional department store in the United Kingdom. As stated by law, we have allotted at least 3 feet between each fixture and display case to allow for an easy flow of traffic and the use of wheelchairs. In the center at the front entrance we have strategically placed our holiday display to create that “wow” factor as our consumers step foot into our M&S pop up shop. Behind our large display is the checkout counter where two representatives will be glad to assist our shoppers with any needs as well as checkout. During this peak holiday season our representatives will be offering gift wrapping options to make our customers experience that much more enjoyable and convenient.

M E N ’ S

STORE DESIGN

W O M E N â&#x20AC;&#x2122; S

H O M E

Our consumers then reach our second floor through the access of an elevator, skinned in our British heritage, and arrive in the staged furniture section. This area is comprised of a mock bedroom space with a small office and a large living room area where guests are encouraged to congregate and try out the furniture.

STORE DESIGN

P R O D U C E

C A F E / L O U N G E

STORE DESIGN

To the right of the furniture category, separated by a frosted glass partition, is the grocery store with a select offering of frozen food, small meals and snacks. Once guests are finished purchasing their items they can walk to the checkout desk, have their desired items bagged and purchase them through an iPad. Our use of iPads in the store allows for efficiency and adds another technological element to the shopperâ&#x20AC;&#x2122;s experience.

Last but not certainly not least, our outdoor lounge and cafe, located on our top floor balcony, was built for the ultimate leisure experience. With glass walls, the sunlight illuminates the entire space and gives a 180 degree view of downtown Miami while dining. The outdoor kitchen is occupied by our M&S professional chef who cooks a variation of 10 tapas style plates from our menu. The menu consists of food and ingredients located directly in our grocery store, encouraging our customers to try before they buy.

C O S T In order to provide an asethetically pleasing environment for our shoppers, we have factored in the costs for staging of furniture, lighting, music, holiday displays, customer service and our lounge/cafe area. In regards to our interior cost within the first level of our 10,000 square foot space we have estimated nearly $30,000. For the second level costs we will allocate a total of $34,873 diving this amount into our staged living area, bedroom, grocery store and outdoor eating area. In order to create brand awareness and generate buzz within the comminity of Brickell we must take those risks in cost to instill a positive impact. Everything from the flooring to the lighting, scents and music have been thought out in order to execute a proper pop up shop and grand opening. 1

Interior Cost First Floor Costs Marble top displays Cocktail tables beauty section Shelving Units Colorful Mannequins Lounge Chairs Lighting fixtures above display cases Neon Trees Green X-mas Tree

Unit Cost

# of Units

Total Cost

$2,200 $134 $384 $200 $250 $70 $130 $200

Second Floor Costs-Bedroom Bed Throw Pillows Throw Blanket Beside Tables Desk Desk Chair Armchair Lighting Artwork Small Mirrors

10 3 12 6 3 9 2 1 46

$22,000 $400 $4,600 $1,000 $750 $630 $260 $200 $29,840

$750 $35 $40 $90 $450 $199 $550 $250 $10 $25

Second Floor Cost-Living Room Sofa Chairs British Area Rug Coffee Table Table Top Books Pillows Samsung 60' TV Backsplash Fireplace Installation Chandelier

1 2 1 2 1 1 1 1 3 3 16

$750 $70 $40 $180 $450 $199 $550 $250 $30 $75 $2,594

$2,000 $500 $500 $279 $150 $140 $1,000 $2,300 $2,000 $550

Grocery Store Costs Shelving Units Freezer Units Checkout Desk Ladder Shelving Cubicles Baskets

1 2 2 1 1 8 1 1 1 1 19

$2,000 $1,000 $1,000 $279 $150 $1,120 $1,000 $2,300 $2,000 $550 $11,399

$150 $1,000 $250 $80 $25 $10

Outdoor Eating Area Cocktail tables Stools Grill/Kitchen Area Outdoor Wicker Furniture Set Fire pit

20 2 1 2 16 300 341

$2,000 $250 $190 $400 $300 $6,140

$115 $109 $10,000 $2,500 $250

6 12 1 1 1 21

$690 $1,300 $10,000 $2,500 $250 $14,740

Total Interior Cost:

$3,000

$64,713

STORE DESIGN

Exterior Cost Rent Indoor Lighting Air Conditioning Refridgeration Space heating Cooking Water Heating Miscellaneous

September $57,959 $18,000 $16,769 $333.00 0 $665.00 $664.00 $2,294

October 57,959.00 $18,000 $16,769 $333.00 0 $665.00 $664.00 $2,294

November $57,959 $18,000 $16,769 $333.00 $0 $665.00 $664.00 $2,294

December

January

February

Total Costs

$57,959

$347,754 $108,000 $100,614 $1,998.00 $24,828 $3,990.00 $3,984.00 $13,764 $604,932.00

$18,000 $16,769 $333.00 $8,276

$665.00 $664.00 $2,294

$18,000 $16,769 $333.00 $8,276

$665.00 $664.00 $2,294

$18,000 $16,769 $333.00 $8,276

$665.00 $664.00 $2,294

VII

PRODUCT ASSORTMENT

Average Price (USD)

September (2015) $15,603.35

October (2015) $32,174.40

November (2015) $205,645.32

December (2015) $855,304.90

January (2016) $142,195.49

February (2016) $56,148.75

Total $1,307,072.21

£5.00 £15.00 £8.00 £50.00 £45.00

$6.26 $50.09 $18.78 $10.02 $62.61 $56.35

2493 312 831 1557 249 277

5140 642 1713 3211 514 571

32851 4106 10950 20523 3285 3649

136630 17075 45543 85360 13661 15178

22715 2839 7572 14191 2271 2523

8969 1121 2990 5604 897 996

$108,720.14

$224,182.91

$1,432,883.52

$5,959,543.79

$990,781.47

$391,230

208797 26094 69599 130446 20876 23196 479009 $9,107,341.83

£125.00 £99.00 £35.00 £45.00 £39.50 £59.00 £29.50 £49.50 £59.00

$156.53 $123.98 $43.83 $56.35 $49.47 $73.88 $36.94 $61.99 $73.88

695 877 2480 1929 2198 1472 2943 1754 1472

1432 1808 5115 3978 4532 3034 6069 3616 3034

9154 11557 32692 25428 28965 19395 38789 23115 19395

38073 48069 135970 105759 120468 80665 161330 96137 80665

6330 7991 22605 17583 20028 13411 26821 15983 13411

2499 3156 8926 6943 7908 5295 10591 6311 5295

$123,316.83

$254,281.54

$1,625,261.40

$6,759,667.72

$1,123,803.06

$443,756.25

£149.00 £119.00 £49.50 £45.00 £35.00 £29.50 £49.50 £39.50 £35.00 £25.00 £249.00 £25.00 £15.00 £18.00 £25.00

$187 $149.02 $61.99 $56.35 $43.83 $36.94 $61.99 $49.47 $43.83 $31.31 $311.82 $31.31 $18.78 $22.54 $31.31

661 828 1989 2188 2814 3338 1989 2493 2814 3939 395 3939 6566 5471 3939

1363 1706 4102 4513 5802 6884 4102 5140 5802 8121 254593 8121 13540 11281 65

8710 10906 26218 28842 37081 43997 26218 32853 37081 51909 5212 51909 86542 72106 51909

36227 45361 109044 119959 154225 182990 109044 136642 154225 215895 21678 215895 359940 299897 215895

6023 7541 18129 19943 25640 30422 18129 22717 25640 35893 3604 35893 59840 59840 35893

2378 2978 7159 7875 10124 12013 7159 8970 10124 14173 1423 14173 23629 19688 14173

$28,186.70

$58,121.50

$371,488.32

$1,545,066.91

$256,869.27

$101,430

£24.50 £18.00 £29.50 £17.00 £16.00 £22.00 £49.00

$30.68 $22.54 $36.94 $21.29 $20.04 $27.55 $61.36

919 1251 763 1324 1407 1023 459

1894 2579 1573 2730 2900 2110 947

12108 16481 10057 17449 18537 13484 6054

50361 68548 41826 72572 77099 56082 25180

8373 11396 6954 12065 12818 9324 4186

3306 4500 2746 4764 5061 3682 1653

$41,273.39

$85,106.48

$543,965.04

$2,262,419.40

$376,130.00

$148,522.50

£79.00 £65.00 £79.00

$98.93 $81.40 $98.93

417 507 417

860 1046 860

5498 6683 5498

22869 27794 22869

3802 4621 3802

1501 1825 1501

$91,103.45

$187,856.98

$1,200,703.32

$4,993,876.97

$830,238.18

$327,836.27

£699.00 £1,249.00 £599.00 £349.00 £799.00 £249.00 £89.00 £19.50

$875.34 $1,564.10 $750.12 $437.05 $1,000.57 $311.82 $111.45 $24.42

104 58 121 208 91 292 817 3731

215 120 250 430 188 602 1686 7693

1372 768 1601 2747 1200 3851 10773 49169

5705 3193 6657 11426 4991 16015 44808 204499

948 531 1107 1900 830 2663 7449 33998

375 210 437 750 328 1051 2942 13425

$95,130.13

$196,160.05

$1,253,773.08

$5,214,600.81

$866,933.79

$342,326.25

£10.00 £8.00 £15.00 £36.00 £19.50 £168.00 £162.00 £8.00

$12.52 $10.02 $23.50 $45.08 $24.42 $210.38 $202.87 $10.02

7598 9494 4048 2110 3896 452 469 9494

15668 19577 8347 4351 8033 932 967 19577

100142 125127 53352 27812 51342 5960 6180 125127

416502 520419 221898 115674 213538 24787 25704 520419

69244 86520 36891 19231 35501 4121 4273 86520

27342 34164 14567 7594 14018 1627 1687 34164

58183 73458 207788 161621 184098 123272 246544 146916 123272 1325153 $10,330,086.80

76961 104754 63919 110905 117822 85705 38480 598547 $3,457,416.81

BEAUTY

55362 69320 166641 183320 235685 279645 166641 208815 235685 329929 286906 329929 550058 468282 321872 3888094 $2,361,162.70

34948 42474 34948 112371 $7,631,615.17

636496 795302 339103 176773 326328 37879 39281 795302 3146463 $42,163,619.63 10003961

CHRISTMAS

8718 4879 10174 17462 7627 24474 68476 312515 454326 $7,968,924.11

WOMEN’S

£40.00

MEN’S

Total Rev Total Units

Average Price

PRODUCE

# of Units Product Categories Revenue Christmas Christmas Cards Christmas Hampers Christmas Candles Christmas Mugs Christmas Decorations Christmas Jumpers Total # of Units Revenue Women's Coats & Jackets Jumpers & Cardigans Shirts & Blouses Tops & T-shirts Jeans Trousers Leggings Skirts Dresses Total # of Units Revenue Men's Blazers & Smart Jackets Coats & Casual Jackets Jumpers & Cardigans Formal Shirts Casual Shirts T-shirts Formal Trousers Casual Trousers Jeans Shorts Suits Ties Socks Underwear Belts Total # of Units Revenue Beauty Skincare Eyes Face Lips Make-up Accessories Haircare Fragrance Total # of Units Revenue Accessories Women's Shoes Men's Shoes Women's Handbags Total # of Units Revenue Home Beds Couches Chairs Coffee Tables Desks Sidetables Bedding Cushions Total # of Units Revenue Produce Fruit Vegtables Cheese Meat Desserts Wine Champagne Soft Drinks Total # of Units

HOME

PRODUCT ASSORTMENT

IIX

PROMOTIONAL PLAN

P L A N

PROMOTIONAL PLAN

The promotion for the six month M&S Miami shop will be a year-long endeavor, starting in May 2015 and ending in April 2016. Pre-launch promotion will occur four month before the opening (May to August 2015), and post-launch promotion will last for two months after closing (March to April 2016). The length of pre-launch will be longer than post-launch because M&S is a foreign retailer, and many Miami residents may not be familiar with the U.K. department store. To help increase the awareness of both M&S and M&S Miami, a variety of media outlets will be used. The five media types are: traditional, social media, out-of-home, partnerships, and event. For each of the three division of the promotion plan, a unique tagline will be used. Each tagline will used throughout all used media. The three taglines that will be used are “the British are coming” (pre-launch), “the British have arrived” (during), and “cheerio Miami” (post-launch). The taglines play upon the retailer’s British culture. (Figure 7)

Traditional Media Radio Radio is an easy and cost-effective way of marketing. Many Miami residents drive, especially if they live outside the city, and often when they drive they have the radio on. M&S Miami will be marketed on the radio through thirty second commercials. The two radio stations that will be used are Y-100 and Power 96, two popular radio stations in Miami. The radio commercials will be informative, especially during pre-launch, because M&S is new to not only Miami, but the United States. Along with basic information, the listener will be told to visit the landing page and follow M&S Miami on social media for further information. Both the commercials and the radio DJs will use the pre-launch slogan. Landing Page M&S Miami will have a landing page that will hold all information (location, dates, times, contact). Specifically during the prelaunch, images of the site and the merchandise will be shown on the website, as well as videos from M&S Miami’s YouTube channel. This will make people feel involved in the creation of M&S Miami. The landing page will connect the M&S’s e-commerce page, and vice versa. No slogan will be used on the landing page to save time and money. Commercials Commercials are an expensive, but highly effective way to contact the audiences. Since M&S is a department store, it has a wide range of customers, and commercials is a way to garner the attention of many different people. Like the other pre-launch marketing, the commercials will be informative and fun, playing upon the British theme. The commercials will grab the viewer’s attention, and stay with him or her long afterwards. The the same pre-launch commercial will be shown on television and online, marketing more people. Magazine Print advertisements in magazines is the bases of many pop-up shop’s promotion plans. Full-page, color advertisements will be in three popular, local magazines in Miami Venue Magazine (Brickell Centre’s magazine), Ocean Drive Magazine, and Miami Living Magazine. Each magazine targets different areas of Miami, and discusses a wide array of topics from food to fashion to interior design. These advertisements will be beautiful, like M&S. The image will utilize the British heritage of the company in such a manner as previous M&S magazines advertisements. The retailer’s past advertisements featured famous, respected British citizens. The M&S Miami advertisement will also have the date of opening, location, the landing page URL, and the pre-launch slogan.

P R E - L A U N C H

PROMOTIONAL PLAN

Billboard Along two major highways, Palmetto Expressway and Dolphin Expressway, billboards promoting M&S Miami will placed 1. Many of Miami’s highways experience bumper-to-bumper traffic 1. While travelers are stuck in traffic, they will see the billboard and be interested in visiting M&S Miami. A billboard will also be placed in the metromover station by Brickell Centre. The metromover is another popular form of transportation in Miami. By placing a billboard at Brickell Centre’s metromover station, M&S Miami will specifically be targeting people who are currently in the area and/or often there. Like the pre-launch radio commercials, the pre-launch billboards will be informative. It dates of the pop-up shop and a callto-action, the URL link to the landing page, which will hold more information. A image used will exploit M&S’s British heritage. The pre-launch slogan will be used as a focal point to catch passerby’s attention.

P R E - L A U N C H Social Media The purpose of social media is to include Miami residents in the creation of M&S Miami. This will encourage the blending of British and Miami culture, and in turn make M&S Miami a success. YouTube M&S Miami will have its own YouTube channel that will have videos about M&S, M&S Miami, and, specifically during the pre-launch, videos about the creation of the pop-up shop. Instagram M&S Miami will have its own Instagram account where daily images of the store’s development will be posted. Any comments left on posts will be replied to. The pre-launch slogan will be used in hashtag form in posts. Twitter M&S Miami will have its own Twitter account. Information, Instagram images, and YouTube videos will be tweeted. Also, any tweets from Miami residents will be replied to. The pre-launch slogan will be used in hashtag form in tweets. Facebook All material shared YouTube, Instagram, and Twitter will shared through the M&S Miami Facebook page. The Facebook page will be a combination of social media and the landing page. It will have both information (location, dates, times, contact, etc.) and fun posts. Like other forms of social media, people can follow the M&S Miami Facebook page, and leave comments for the retailer which will be responded to. The Facebook page is where all social media platforms come together. The pre-launch slogan will only be used in status updates.

PROMOTIONAL PLAN

Out-of-Home Elevator The most creative of M&S Miami’s marketing will be its elevator advertisements. On elevators in three four to five star hotels (Hotel Beaux Arts, Viceroy Miami Hotel, and Holiday Inn Port of Miami-Downtown) and three middle to upper class apartments (Brickell City Centre Tower Apartments, One Plaza Apartments, and Camden Brickell Apartments), a sticker will be placed on the door and on the inside, back wall 13 14. On the outside door, the sticker will read “the British are coming”. On the inside, back wall, the sticker state “M&S Miami” and information about it.

Traditional

D U R I N G

All traditional marketing will remain the same, but the slogan will change to “the British have arrived”. Social Media YouTube While the pop-up store is open, videos of events occurring at the store (launch party, holiday shopping) and people shopping will be posted. Instagram Photographs of events and people shopping at the store will be posted. Also, a hashtag competition will take place on Instagram during the launch party. People who Instagram a picture of launch party with the hashtag “M&SMiami”, and show it at the register when purchasing an item(s), will receive a 25 percent discount. However, the 25 percent discount will only apply to one item. This will motivate people to attend the launch party and purchase merchandise. The slogan, “the British have arrived”, will be used in hashtag form. Twitter and Facebook The function of the M&S Miami Twitter account will remain the same. The slogan, “the British have arrived”, will be used in hashtag form. The function of the M&S Miami Facebook page will remain the same. The slogan used in updates will change to “the British have arrived”.

Out-of-Home Elevator The elevator advertisements will update to the door sticker to say “the British have arrived”, and the inside, back wall sticker will remove the opening date of the pop-up store. Partnerships Bloggers Influential bloggers in the Miami area will be invited to the launch party of M&S Miami. To encourage them to attend and make a purchase, 150 dollar gift cards will be given to them. Hopefully, they will continue to write about M&S Miami after the launch party. Instagramers Popular Instagramers in Miami will be invited to the launch party as well. They too will be given 150 dollar gift cards. Hopefully these Instagramers will return to the store to shop and post more images with the hashtag “M&S Miami”. Journalists Miami journalists will be invited to the launch party. They will be given a 150 dollar gift card. Hopefully, due to the success of the store, journalists will continue to write articles about M&S Miami after the launch party.

PROMOTIONAL PLAN

D U R I N G

Launch Party The launch party will be the most expensive part of the promotion plan. This is because the launch party must create newsworthy buzz, and attract large amounts of people. The very popular DJ, Sasha, will play his trance music. On one of the marble counters in the upstairs cafe area, various audevers, delicious champagne, and water bottles from M&Sâ&#x20AC;&#x2122;s food and drink selection will be served. The maximum amount of people the pop-up store can comfortably hold is 1,000. To control the large number of people entering the store, a security guard will be hired for the night. Overall, the launch party will be a lavish blend of British and Miami culture. The grand launch party of M&S Miami will be talked about for days afterwards.

P O S T - L A U N C H

Social media will be the only platform used by M&S after the closing of the store. Hopefully journalists and bloggers will write about M&S Miami and its closing, but it is not in the retailer’s control. All four social media platforms will be used. They will used in a retrospective manner; looking back at the store’s six months. One is the M&S Miami YouTube channel, a goodbye video will be posted. The video will show past events, people shopping, and a personal message from M&S. Pictures of past events and people shopping at M&S Miami will be posted on the Instagram account with the hashtag “Cheerio”. The Twitter account will tweet the Instagram and YouTube posts. There will also be a goodbye tweet. All posts made by the other three social media platforms will be posted on the Facebook page. All customer comments will continued to be replied to until the end of April 2016.

PROMOTIONAL PLAN

FINANCIAL PLAN

S A L E S F O R E C A S T

E X P E N S E S

Expenses Design of Space Interior Fixtures Exterior Fixture-signage/decals Wages Rent and Utilities Janitorial Promotional Activities Legal and Permits Warehouse/storage Total Expenses

September (2015) 10,785.50 18,000 $2,500 378,500 $96,684 $200 $136,029 $490 $2,691.66 $645,879.81

October (2015) 10,785.50 18,000 $0 378,500 $96,684 $200 $8,834.66 $490 $2,691.66 $516,185.82

November (2015) 10,785.50 18,000 $500 378,500 $96,684 $200 $31,474.66 $490 $2,691.66 $539,325.82

December (2015) 10,785.50 18,000 $500 378,500 $96,684 $200 $44,878 $490 $2,691.66 $552,729.16

January (2016) 10,785.50 18,000 $500 378,500 $96,684 $200 $32,428 $490 $2,691.66 $540,279.16

February (2016) 10,785.50 18,000 $500 378,500 $96,684 $200 $34,988.00 $490 $2,691.66 $542,839.16

Total 64,713.00 108,000 $4,500 2,271,000 $580,104 $1,200 288631.97 $2,940 $16,149.96 $3,337,238.93

Foot Traffic Conversion Rate Average Basket Total

Women's (21.6%) Men's (24.5%) Beauty (5.6%) Accessories (8.2%) Home (18.1%) Produce (18.9%) Christmas (3.1%) Total

FINANCIAL PLAN

September (2015) 50,333.34 20% 50 503,334

October (2015) 62,000.23 27% 62 1,037,883.85

November (2015) 221,124 40% 75 6,633,720

December (2015) 323,642.17 55% 155 27,590,480.50

January (2016) February (2016) 291,235 175,000 35% 23% 45.00 45 4,586,951.25 1,811,250

Total 1,123,334.00

21.60% 24.50% 5.60% 8.20% 18.10% 18.90% 3.10% 100.00%

September (2015) $503,334.00 $108,720.14 $123,316.83 $28,186.70 $41,273.39 $91,103.45 $95,130.13 $15,603.35 $503,334.00

October (2015) $1,037,883.85 $224,182.91 $254,281.54 $58,121.50 $85,106.48 $187,856.98 $196,160.05 $32,174.40 $1,037,883.85

November (2015) $6,633,720.00 $1,432,883.52 $1,625,261.40 $371,488.32 $543,965.04 $1,200,703.32 $1,253,773.08 $205,645.32 $6,633,720.00

December (2015) January (2016) $27,590,480.50 $4,586,951.25 $5,959,543.79 $990,781.47 $6,759,667.72 $1,123,803.06 $1,545,066.91 $256,869.27 $2,262,419.40 $376,130.00 $4,993,876.97 $830,238.18 $5,214,600.81 $866,933.79 $855,304.90 $142,195.49 $27,590,480.50 $4,586,951.25

February (2016) $1,811,250.00 $391,230.00 $443,756.25 $101,430.00 $148,522.50 $327,836.25 $342,326.25 $56,148.75 $1,811,250.00

42,163,619.6

Total $42,163,619.60 $9,107,341.83 $10,330,086.80 $2,361,162.70 $3,457,416.81 $7,631,615.15 $7,968,924.10 $1,307,072.21 $42,163,619.60

CONCLUSION

Marks & Spencer Miami initiative is to test the market within the heart of the finical district of Brickell, an untapped area of potential for retailers. The perfect place to do so is within the upcoming Brickell City Centre comprised of 575 thousand square feet, a true mecca for Miami shoppers and the biggest thing to happen to downtown Brickell. While localizing M&S to Miami, we fully intend to maintain our British heritage, execute high levels of customer service in order to peak interest, host events with famous musicians to generate buzz and increase volume in units and raise profits. Should we succeed we look towards the future in expanding to Miami and other locations within the United States.

APPENDIX

F I G U R E

APPENDIX

F I G U R E

F I G U R E MEDIA Traditional

PRE-LAUNCH May (2015)

Radio

:30 Spot Y-100 ($194.00/Month) :30 Spot Power 96 ($194.00/Month)

June (2015)

$194.00 $194.00

Billboard

Brickell Centre Metromover Station ($2,500.00/Billboard) Palmetto Expressway ($2,500.00/Billboard) Dolphin Expressway ($2,500.00/Billboard) Setup

Commercials

$1,517.33

Creation of August Ad Creation of September Ad Creation of December Ad Ocean Drive Magazine (Full, 3X) Venue Magazine (Full, 3X) Miami Living Magazine (Full, 3X)

$1,517.33

Creation Submittion Creation Submittion

$1,517.33

$1,517.33 $1,517.33

$50.00

Press Release (1)

$50.00

Social Media

Account Setup Management ($2,000.00/Month)

Instagram

Acount Setup Management ($1,000.00/Month) Account Setup Management ($1,000.00/Month)

Twitter Facebook

Page Setup Management ($1,500.00/Month) Out-of-Home

$150.00 Gift Card

December (2015)

$194.00 $194.00

January (2016)

$194.00 $194.00

$2,500 $2,500.00 $2,500.00

$17,000.00

$1,517.33 $17,000.00

$5,940.00

$1,517.33 $1,517.33

February (2016)

POST March (2016)

April (2016)

$194.00 $194.00 $2,500.00 $2,500.00 $2,500.00

$1,517

$1,517.33 $5,250.00 $5,250.00 $5,250.00

$1,517.33

$1,517.33 $17,000.00

$17,000.00

$5,940.00

$1,517.33

$5,250.00 $5,250.00 $5,250.00

$50.00

67250

$2,000.00

$1,000.00

$750.00 $1,000.00

$1,000.00

$1,000.00 $1,500.00

$1,500.00

$3,600.00

$3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00

Event

$3,600.00

$3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00

$150.00

Launch Party

DJ Sasha Food Party Mini Wrap Slices (12 Platters) ($19.73/Platter) CruditĂŠ Selection (41 Platters) ($9.46/Platter) Fresh Fruit Mini Kebabs (15 Platters) ($15.77/Platter) Sweet Bites Party Collection (10 Platters) ($18.92/Platter) Oudit Brut NV Champagne (28 Cases of 6 Bottles) ($263.54/Case) Water Bottles (1,500 Bottles) ($0.38/Bottle) Napkins (6 Packs of 250 Napkins) ($3.79/Pack) Security Guard (5 hours) ($25.00/Hour)

$3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

44579.99

72319.33

136028.65

$75,600.00

900

$450.00 $450.00 $450.00 $450.00

$59,315.99 59315.99 $50,000.00 $1,050.37 $236.76 $387.86 $236.55 $189.20 $6,623.12 $570.00 $947.50 $125.00

$6,623.12 $570.00 $947.50 $125.00

10539.99

$22,750.00 $750.00 $22,000.00 $12,750.00 $750.00 $12,000.00 12750 $750.00 $12,000.00 $19,000 $1,000 $18,000

75600 3600 3600 3600 $10,800.00 $10,800.00 $10,800.00 $10,800.00 $10,800.00 $10,800.00

$50,000.00 $1,050.37

$11,784.66

COST

233789.95

$2,716.00 $1,358.00 $1,358.00 $22,500.00 $7,500.00 $7,500.00 $7,500.00 $724.00 $724.00 146743.98 $9,103.98 102000 $102,000.00 $35,640.00 $35,640.00 $60,905.97 $4,551.99 $4,551.99 $4,551.99 $15,750.00 $15,750.00 $15,750.00 $100.00 $50.00 $50.00 $100.00 $50.00 $50.00

$50.00

Instagramers (5)

TOTAL

November (2015)

$194.00 $194.00

$1,517.33 $17,000.00

Bloggers (10)

Cost Per Month

October (2015)

$750.00 $1,000.00

Creation of August Ad Creation of September Ad Creation of February Ad Hotel Beaux Arts Miami ($6,000.00/Ad) Viceroy Miami Hotel ($6,000.00/Ad) Holiday Inn Port of Miami-Downtown ($6,000/Ad) Brickell City Centre Tower Apartments ($6,000/Ad) One Plaza Apartments ($6,000/Ad) Camden Brickell Apartments ($6,000/Ad) Partnerships $150.00 Gift Card

$194.00 $194.00

DURING September (2015)

$750.00 $2,000.00

Elevator Ad

$194.00 $194.00

August (2015)

$5,250.00 $5,250.00 $5,250.00

Media Kit (1)

YouTube

July (2015)

$724

Creation of Commercials ($3,970.00/Commercial) :30 TV Spot (20 Spots) ($850/Spot) :30 Online Spot (20 Spots) ($297/Spot)

Magazine

7 $2,500.00 $2,500.00 $2,500.00

Landing Page

APPENDIX

8834.66

31474.66

44878

32428

34988

5500

3500

436855.94 436855.94

WORKS CITED Plans for growth SWOT Current Positioning Business Model “Governance Framework.” M&S. Marks and Spencer Plc, 2014. Web. 11 Nov. 2014. <http://corporate.marksandspencer.com/investors/corporate-governance/governance-framework>. “Key Facts.” M&S. Marks and Spencer Plc, 2014. Web. 11 Nov. 2014. <http://corporate.marksandspencer.com/investors/key-facts>. “Marks and Spencer: Overview.” LinkedIn. LinkeIn Corporation, 2014. Web. 11 Nov. 2014. <https://www.linkedin.com/company/marks-and-spencer>. Market Analysis State of Industry

“Florida Tolls.” Cost 2 Drive. C2G LLC., 2014. Web. 12 Nov. 2014. <http://beta.costtodrive.com/florida-tolls/>. “Miami: Economy.” City-Data.com. Advameg, Inc., n.d. Web. 11 Nov. 2014. <http://www.city-data.com/us-cities/The-South/Miami-Economy.html>. Renzulli, Melanie. “The 25 Busiest Airports in the USA.” About Travel. About.com, n.d. Web. 11 Nov. 2014. <http://usatravel.about.com/od/PlanYour-Trip/tp/Busiest-Airports-In-The-USA.01.htm>. Social “Business Requirements - Miami-Dade County.” Business Requirements - Miami-Dade County. Miami Dade, n.d. Web. 15 Nov. 2014. Technological 1. “Can EMerge Americas Techweek Conference Put Miami on the Map?” Tech Cocktail Miami. 25 Mar. 2014. Web. 11 Oct. 2014. <http://tech.co/can-emerge-americas-conference-put-miami-map-2014-03>. Environmental

Clark, Evan. “HBC’s Michael Burgess Discusses the Digital Evolution of Department Stores.” Women’s Wear Daily. 2014 Fairchild Publishing, LLC, 08 Oct. 2014. Web. 26 Oct. 2014. <http://www.wwd.com/retail-news/direct-internet-catalogue/the-hudsons-bay-online-way-7970720?module=retailnews-trends-analysis-page-2>.

1. “Hurricane Andrew: 20 Facts You May Have Forgotten.” Huffington Post. 24 Sept. 2012. Web. 14 Oct. 2014. <http://www.huffingtonpost.com/2012/08/21/20-facts-hurricane-andrew-anniversary_n_1819405.html>.

Wang, Lisa. “Reinventing The Department Store - The Business of Fashion.” The Business of Fashion. The Business of Fashion Ltd., 08 Oct. 2014. Web. 09 Nov. 2014. <http://www.businessoffashion.com/2014/10/reinventing-department-store.html>.

Legal

PESTEL Political “Business Requirements - Miami-Dade County.” Business Requirements - Miami-Dade County. Miami Dade, n.d. Web. 15 Nov. 2014. Economic Bandell, Brian. “International Banking Turned Brickell into the Wall Street of Miami.” South Florida Business Journal. American City Business Journals, 23 Aug. 2013. Web. 11 Nov. 2014. <http://www.bizjournals.com/southflorida/print-edition/2013/08/23/international-banking-turned-brickell. html?page=all>. Barton, Eric. “Toll Lanes Becoming All the Rage in Florida.” Miami Herald. Miami Herald, 21 Sept. 2014. Web. 12 Nov. 2014. <http://www.miamiherald.com/news/local/community/miami-dade/article2198345.html>.

“Alcohol Warning Signs.” Regulatory Economic Resources. Miami-Dade County, 2014. Web. 12 Nov. 2014. <http://www.miamidade.gov/business/ laws-alcohol-signs.asp>. “Florida Labor and Employment Law.” LawyersandSettlements.com. Online Legal Media, 2014. Web. 12 Nov. 2014. <http://www.lawyersandsettlements.com/lawsuit/florida-employment-labor-law.html#.VGL0aEsrSlJ>. “Food Product Labeling / Packaging.” Regulatory Economic Resources. Miami-Dade County, 2014. Web. 12 Nov. 2014. <http://www.miamidade.gov/ business/laws-food-product-labeling.asp>. Direct competitors Indirect competitors “Miami Sercives.” Ikea. Web. 10 Oct. 2014. <http://www.ikea.com/us/en/store/miami/services>.

WORKS CITED 2. “Top 10 Farmers Markets in Maimi.” Greener Miami. Web. 10 Oct. 2014. <http://greenermiami.com/2011/01/top-10-farmers-markets-in-miami/>.

Chapple, Renee. “Driving in Miami.” About Travel. About.com, 2014. Web. 16 Nov. 2014. <http://miami.about.com/od/transportation/a/driving_in_miami.htm>.

3. Whole Foods. Web. 10 Oct. 2014. <http://www.wholefoodsmarket.com/stores/coralgables>.

“Choice 2-Ply 16” X 16” WrapNap White Dinner Napkin - Flat Pack 250/Pack.” Webstaurant Store. WebstaurantStore Food Service Equipment and Supply Company, 2014. Web. 16 Nov. 2014. <http://www.webstaurantstore.com/choice-2-ply-16-x-16-wrapnap-white-dinner-napkin-flat-pack-250-pack/9992WRAPNAP.html>.

Target Consumer Target consumer Consumer profile Consumer profile Miami “Business Requirements - Miami-Dade County.” Business Requirements - Miami-Dade County. Miami Dade, n.d. Web. 15 Nov. 2014. Demographics PRIZM Market Segmentation Research, Tools, Market Segment Research,. N.p., n.d. Web. 15 Nov. 2014. Psychographics PRIZM Market Segmentation Research, Tools, Market Segment Research,. N.p., n.d. Web. 15 Nov. 2014. Sales Potential Estimated Competition Area Attractions Logistics and Infrastructure Human Resources Legal issues

Collier, Mack. “How Much Does Social Media Cost Companies in 2012?”MackCollier.com. MackCollier.com, 2012. Web. 16 Nov. 2014. <http://www. mackcollier.com/cost-of-social-media-in-2012/>.

Store Design Store design overview Cost “Inspire and Be Inspired.” Roomstyler. N.p., n.d. Web. 16 Nov. 2014. Product Assortment Product plan Promotional Plan

CrowdSpring. CrowdSpring, 2014. Web. 16 Nov. 2014. <https://www.crowdspring.com/post-a-project/package/35/?p=gold>. “Crudité Selection.” M&S. Marks and Spencer Plc, 2014. Web. 16 Nov. 2014. <http://www.marksandspencer.com/crudit-selection/p/p21006079>. Designpax. Designpax, 2014. Web. 16 Nov. 2014. <http://www.designpax.com/>. “Elevator Advertising.” Emerging Advertising Media. Tangient LLC, n.d. Web. 16 Nov. 2014. <http://emerging-advertising-media.wikispaces.com/Elevator+advertising>. “Entrepreneurs Radio Advertising Rates.” Gaebler.com. Gaebler Ventures, 09 Nov. 2014. Web. 16 Nov. 2014. <http://www.gaebler.com/radio-ad-rates. htm>. Fox, Jimm. “What Does a Corporate Web Video Cost? 25 Factors (with Prices) That Affect Corporate Video Production Costs.” One Market Media. OMM, 03 Mar. 2010. Web. 16 Nov. 2014. <http://www.onemarketmedia.com/2010/03/03/what-does-a-web-video-cost-25-factors-with-prices-that-affect-video-production-costs/>. G.H. Mumm. G.H. Mumm, 2014. Web. 16 Nov. 2014. <http://www.ghmumm.com/en#/prehome>. “How Much Do Online Video Ads Cost?” Quora. Quora, Inc., n.d. Web. 16 Nov. 2014. <http://www.quora.com/How-much-do-online-video-adscost>. “How Much Does A Security Guard Cost?” Cost Helper Small Business. CostHelper, Inc., n.d. Web. 16 Nov. 2014. <http://smallbusiness.costhelper.

WORKS CITED com/security-guard.html>. “Miami Hotels.” Google. Google Inc., 16 Nov. 2014. Web. 16 Nov. 2014. <https://www.google.com/hotels/?gl=US&cu_link=1#search;l=Miami;q=brickell+centre+miami+hotels;d=2014-11-30;n=1;mf=r;ar=;rtt=600;si=3e9a196c;av=r>. Blake, Scott. “Brickell City Centre Tower Nearly Half Sold.” Miami Today. Miami Today, 23 July 2014. Web. 16 Nov. 2014. <http://www.miamitodaynews.com/2014/07/23/brickell-city-centre-tower-nearly-half-sold/>. “Oudinot Brut NV Champagne - Case of 6.” M&S. Marks and Spencer Plc, 2014. Web. 16 Nov. 2014. <http://www.marksandspencer.com/oudinotbrut-nv-champagne-case-of-6/p/p21126685>. Prosser, Marc. “How Much Does Billboard Advertising Cost?”FitSmallBusiness.com. Fit Small Business, 26 Aug. 2013. Web. 16 Nov. 2014. <http:// fitsmallbusiness.com/how-much-does-billboard-advertising-cost/>. “Rates.” Ocean Drive. Niche Media LLC, 2014. Web. 16 Nov. 2014. <http://oceandrive.com/rates>. Richard De La Font Agency, Inc. Richard De La Font Agency, Inc., 2014. Web. 16 Nov. 2014. <http://www.delafont.com/contactselect.htm>. “Sweet Bites Party Selection.” M&S. Marks and Spencer Plc, 2014. Web. 16 Nov. 2014. <http://www.marksandspencer.com/sweet-bites-party-selection/p/p60055875>. Wagner, Nancy. “How Much Does Television Advertising Really Cost?”Small Business Chron. Hearst Newspapers, LLC, n.d. Web. 16 Nov. 2014. <http://smallbusiness.chron.com/much-television-advertising-really-cost-58718.html>. Zimmerman, Jan. “Estimating Online Banner Advertisement Costs.”

FASM 410 Alessandro Cannata Morgan Davis Alena Dubik Sam Marti