Cindey Angul
Executive Summary When you see a problem you try to solve it. This is what MyCo brand is all about. A coat that helps us continue going on about our daily life with out always feeling that the weather should be the topic of our discussion, or should it effect your mood to do the next thing you want to do. MyCo is all about bracing the outdoors. Its Early October in Manchester and you would normally be expecting rain, but the weather seems to have changed to . Just the other day a member of the team was on search for a coat for the rainy season and cold weather that is normally approaching at this time of the year. The group discussion led onto is any of us pleased with the jackets they purchased. A member of the group recalls only once in their life have they been pleased with a coat they have purchased and that was when they where a child. None of the coats purchased yet had the aesthetic design appeal and was able to protect the body from the cold, wet weather, protect other valuable that are keeping you from the distraction of the weather such as headsets, mobile phones. The group than went on to start the coat project. Evaluating their own daily life’s and looking into what others in the environment where dealing with the weather change in Manchester. Society is constantly on the move, the modern day monkey has evolved faster because of technology, sometime to fast. MyCo team has went on to outline and design three evolutionary coats to withstand the consumers lifestyle.
Vision and Mission The MyCo brand was first started during a discussion with the founders about the weather and the search for the perfect coat for the city they live in “Manchester”. This than set aside a group project to research and investigate what would be a great coat to wear in Manchester an all weather jacket coat. The MyCo brand will be specializing in niche market of coats, that can be worn for the city and rural areas. The MyCo Mission is to provide our customers high quality garment coats that can be worn outdoor that can provide superior protection from inclement weather that we have in Manchester, by creating a garment that has a waterproof shell, that is insulating, versatile in style. Our collaborative idea is to bring you a product that is satisfying for your everyday needs. The brand reflects a sense of comfort and timeless products that focus on fine fabrics, great craftsmanship, and fit. Individuality is key to our daily lives and we have implemented this in our creative process design. The MyCo. mission is to create high quality garments and support the manufacturing in Britain
Myco Goals The goal of MyCo is to be recognized as a leading outwear coat brand for consumers who want a quality product that is versatile and does its job of keeping the consumer well insulated from the weather.
MyCo Obejectives The objectives for reaching that goal are to: • Meet the company Mission • Increase sales and production • Meet market demand • Meet customer needs • Gain market share
• Operate at a profit Details of implementing these objectives will be found through put the business plan.
Company Profile MyCo brand is a start up fashion brand which is built up on the foundations of designing coats that are aesthetically appealing to wear yet have the elements of a good quality coat that is well made and has the elements needed in the environment for the customer who are looking for upscale coat garment brand. The MyCo brand was first built around a group of creators wanting to create the perfect coat for the city which they lived in ‘Manchester’ They felt that each season the would be out searching for the right coat and yet never being full satisfied with they one they have once they leave the house as the weather would change and their it began the creative processes and research of designing a coat that would be satisfy in the changing weather conditions in Manchester. The MyCo brand feels its important to have a British heritage connection with the creation of the coats and making sure the coats made have a connection with the customers and its important to share with the customers some of the MyCo brand attributes of how their coat has been made and have a personal connection with your outwear garment. “MONKEY” We, as humans believe to have evolved over centuries. Assuring that we adapt to the location, people, and environment. The Monkey brings you a coat range that can adapt to your environment and make you feel that your still alive and able to discover the environment that you are in. No more feeling like the weather decided how you go about your daily lives. The shell the Monkey has provided is suited for any environment, their aesthetic designs are to make you feel like an explorer able to shape and change so you can clinch the British’s weather.
Company Ownership The ownership of the company is Partnership between 5 Masters students. The company will be partner shipped owned for the next 5 years however within the 5th year any owner can sell off their share of the company firstly to a founding member of the company before offering it to any corporative business. Presently, (Gloria) owns twenty percent (20%) of the company Presently, (Calvin) owns twenty percent (20%) of the company Presently, (Mia) owns twenty percent (20%) of the company Presently, (Daria) owns twenty percent (20%) of the company Presently, (Cindey) owns twenty percent (20%) of the company
Market Industry And Trends MyCo brand falls into the menswear apparel industry and outwear clothing. An article from the guardian news written in June 2014 before Menwear Fashion week in London
stated market research Mintel showed that the UK mens market has grown 18% in the past five years and is now worth £12.9bn by 2018 its estimated to reach £16.4bn. This means it’s a great time for the MyCo brand to establish its self on the UK menswear market. The chief executive of the British Fashion Council, Caroline Rush, said: "The UK menswear industry is growing at an unprecedented speed. It is a serious business, a force to be reckoned with, and it has a huge impact on the economy and jobs in the UK." This is strong growing interest in mens fashion has been due to the first launch of the London Collections; Mens fashion event that launched in 2012 which is a separate show to the main London Fashion Week which show cases the best menswear and new talent designers and collections in the heart of the capital city London. The Fashion Industry has changed in the specialism niche market of Outwear and Coats. People are willing to invest in to a good coat that has all the functions. What does it mean to have a good coat in Manchester? Waterproof, warm, functional. The UK weather shows that 9months out of the 12months of the year the weather is winter, which means that the market for selling outwears clothing is a great one to target in the fashion market. The direct value of the UK fashion industry to the UK economy is £26 billion; up from £21 billion in 2009. Showing an increase of 22% in nominal terms (Oxford Economics 2014) The UK fashion industry will experience more growth over the upcoming year especially in the niche markets of coats. The city of Manchester has a very international based population and the city center growth of student population has grown especially over sea students who have come from much warmer countries than the UK and Manchester. The official statics showed that through the whole of the UK the North West spent more on clothing and footwear than anywhere else in the country. The Barcleys Bank have created a UK Tourism Dynamics Seizing opportunities in your region Document published in May 2014 which states and shows figures that the youthful student populations of Manchester and Liverpool have ensured that fashion brands make up a crucial part of the retail mix, and overseas and UK tourist retail spending is set to be driven by growth in fashion, increasing by 30% and 32.6% respectively by 2017. Making sure the Launch location of the product is in the Manchester would be a great start for the company. A key factor of the market the MyCo needs to establish itself is marketing its self as a UK fashion brand. The branding of fashion products has a value itself. Products with strong brand are more highly valued by consumers and investors. The branding equity of the UK fashion industry is worth some £202million per annum. Brand equality will play a critical role with the MyCo brand. The images and associations UK consumers have of fashion products are important in terms of both their decision to actually purchase fashion items and to the enjoyment they get from these purchases. Men are more willing than women to splash out on a special clothing item such as a special design, limited edition or designer collaboration, particularly 25-‐34s, according to Mintel’s consumer research with (82%) of the consumers in full times education are the major drivers of sales within the luxury market. More designers have been focusing on improving their menswear offering to tap into the strong demand for high-‐quality menswear, for example luxury department store Selfridges is giving its menswear offering an overhaul, by introducing concessions from premium labels Tom Ford and Dior Homme, both of which will feature made-‐to-‐measure services. Mintel have reported the importance of online shopping for men. That more men are now opting to browes online whilst they are at home, however men under the age 35 years old are increasingly using different devices such as smartphones and tablets to
browse for clothes whilst on the move. Technology has abled us to now synchronise our websites so that they are easier to brows for items with the over demand of consumers want to buy items online before they go on sale on shop floor. Technology in the fashion industry has grown meaning that production of clothing is easier and ways of making and insuring garments is to the highest of standards is now possible. MyCo brand garments are built on insuring fabric are waterproof this means that we have to use specialist equipment to insure that our garments say what they are and have these aesthetic qualities. Fashion brans such as Swedish brand Stutterhaim, Nike have used the same equipment such a Hot Air welding machinery, or Ultrasonic sewing machine which are used for the seams the garment making the garments more waterproof. The UK fashion industry is encouraging more home grown business. The manufacturing and sourcing of textiles is diluted since the 1980s. However the British Fashion Council is encouraging British Design Companies to support local manufactures and distributors. Fashion has become more over demanding when it comes to the production and making of the garments. Using CAD systems for pattern design, marking, grading and cutting reduced waste and speeds up the production process. Its however important that when it comes to the making that the garment is still hand made locally in the North East of England. Having both the factory where the garment is made and the Location head office of the brand and location of where fabric is sourced in the same are which this will make it more efficient for the company. Brands such Zara have succeeded well in the fashion industry because the Head office, Design process, Manufacturing & Distribution of their garments are all based in one area which makes it easier to manage new ideas, problems which they may encounter during the manufacturing process of their garments easier to communication and have an end result fast.
Corporate Entity and Business Structure
Advisory Board MyCo brand is operated by 5 creative individuals whom come from different backgrounds in design and business. These creative individual have supported and guided each other with the process and creation of the MyCo brand. Following is a list of individuals whose various talents and expertise have assisted MyCo to its current stage and which whom will continue in the growth of the business. Name Affiliation Expertise Gloria Student Ethics, Entrepreneurial skills, Knowledgeable Consumer and Retailing Business planning, Entrepreneurial skills, Business Operations, Calvin Student Planning and Growth Mia Student Design, Pattern Making, Garment Construction, Daria Student Design, Visual Merchandising, Pattern making, Garment Construction Business Planning, Website and Editorial, Brand Imagery Cindey Student Knowledgeable Consumer and Retailing
Production
Many fashion brands have their garments manufactured in another country to increase their profit margins and this is obtained through cheaper labor prices. MyCo brand will keep the production of their garments within the UK. MyCo will source its fabric from a Local seller as the fabric is no longer produced in the UK the company that will be stocking the fabric is VENTILE® FABRICS located in Chorley. VENTILE® FABRICS are currently stocking the Ventile L24 at £19.60 weight 200g per square meter 150cm. MyCo also wants to have establish itself with a local manufacture, which is part of the core values of the company supporting British garment manufactures and has decided to begin is production with WhitePVC Company. The company is based in the UK, and is in the local region of Manchester, they produce good quality garments. Having all key company based in the UK, makes all the design process, sourcing, manufacturing of product and distribution of final product in the UK makes the Business run smoothly and Quicker and easier to manage with any problems that may encounter through this process. Artist collaboration will be part of the brands ethos. Productions of print will be done through Manchester based textiles company DIGETEX. The company specialise in producing affordable Digital Printed Textiles, the company has been running for over 40years.
Service To minimise risk to the business, the creators of the MyCo brand will need to be responsible for overseeing different areas of the company to insure the company is on the right track of building itself in to a global brand. Operations and implementing operating controls for minimizing to the business will have to be outlined. When the contractual agreements with contractors or sales reps, a contract will be reviewed by an attorney and signed by two parties of the company in the agreement. Some of the key areas of risk have been outlined below.
Manufacturing/Quality Control As the manufacturing of the coats will take place at an independent manufacturing facility, quality controls need to be in place to insure that the goods are to the high standards and specifications. The controls in place are to help minimize risk at the manufacturing facility. While the garment products are in production there are key inspections while they are in production. • Fabric Check – assesses weight, print quality, defects, hand feel to standards • Garment Labeling – to ensure label contains all required information, including registered identification number (RN), country of origin, fabric content/care and attachment of label in the proper location, Final Garment check made by Employee MyCo. • Workmanship Assessment – evaluates stitching, construction, attachments and fasteners, embellishments, shading within a garment, pattern continuity/matching, tapes and linings MyCo will set up a contract with WhitePVC outlining the duties, terms, compensation, professional responsibility, and action in the event of non-‐conforming goods. The chosen manufacture is based in Manchester; research has been done to see if the factory would suit the company ethos and the product they have manufactured for their own brand and others have been of good quality that MyCo is aiming to provide to its future consumers.
Suppliers To minimize risk of fabric order once order begin and we evaluate which colour and which style is popular with consumer, MyCo must notify and ask the suppler to contact them directly when new stock of popular colour Ventile is in stock and once it is the company must order. However MyCo must always have 2 extra rolls of Ventile colour in stock for preparation in case the colour from Yarn Manufactures is discontinued and in that way they can consider notifying the consumers that this will be the last colour way in the specific styles. The Labels and Packaging will be sourced from well-‐established UK firm.
Accounting To help minimize the risk and misuse of bank funds. MyCo will hire an accountant, which 2015 is priced at £500 a yearly. All MyCo accounts will be on file at the bank and local firm, and these files will be reviewed on a regular basis by the independent firm. Meetings will be held with an accountant and the business owners, this will inform everyone on what projectorie the business is and where the company hopes to be in the future and where they can set targets.
Liability
Liability is an issue for any business when dealing with clothing products. MyCo will have an insurance agency that will provide a liability lawsuit. MyCo has designed its products to be safe when worn. MyCO will however provide a disclaimer addressing any issues on all packaging. A registered trademark will sought out for the company and also in regards to the design by the company will be patent. The designs of MyCo garment are the key part of the brand that differentiates it from other outwears coats. This is to prevent and ‘Knock-‐off’ to be produced by any competitors.
Payment Collections In the first year some order that are being made at launch dates of the brand will be made at the exhibitions. Instead of spending so much on making to many garments and risk not having them being sold. Consumers can pre order garment with and being charged the pre order price which will pay for the manufacturing of the garment and postage. However if the change their mind on the order the company can keep the pre order price. This will however be placed on a Pre Order inventory where the money will go.
Marketing Plan Product and Services MyCo brand will provide a wide range of coats garments for men. The brand specializes in outwear coats and has an accessories line. The shell of the fabric is made from the finest material known as Ventile is high performance cotton. The cotton fabric were developed during the World War II for the immersion suits of Royal Air Force pilots, and is so effective that it is still being used by the RAF today. Virtually 100% breathable, comfortable and durable, Ventile fabric is a natural, windproof material. In the wet, it changes its open weave structure, closing up the interstices and creating a superb barrier aginst water percolation. Good design features and manufacture in cotton
Ventile offer effective protection in a variety of conditions from the Antarctic to the desert and jungle. MyCo Coats are made in the UK, with a historical British made fabric. The product and material characteristics are below. Features Benefits Durable, Long-‐lasting, colorfast, high quality. The combination provides Fabrics adequate protection from outdoor conditions. Hood Protection again heat loss, protection from outdoor conditions Construction High quality, long lasting, waterproof Easy Care Machine wash at 40 Simplistic Versatile in wear. Transforms to compact Design Colours Three vibrant choices
Product MyCo brand will offer the following products • • •
Coat & Jackets line Accessories line to accompany the coat/jackets range this will feature (Hoods, Linings, Gloves,) Protective Accessories (wax soap, waterproof spray, Cleaning Cloth) These can be sold individually or a garment starter pack where it features all the necessary cleaning and coating products to help keep your coat more protected.
All these products will come in a variety of sizes, colours and styles. Our expertise is in coat manufacturing and design. Other ideas for the products are under development.
Competitive Matrix The brand has chosen to specialize in designing and selling in the niche market of coats. The major companies that it will be competing against will be in the high-‐end market brands such as Moncler, Barbour, A.P.C, and Burberry, Canada Goose. All the following brands don’t have their own store shops in Manchester and are currently stocked in Departments stores and small boutiques. The brands will compete for certain product such as their coat range and accessories if they stock them. Some of the stores such as Burberry have international stores and are not only sold in department store and independent boutiques. Therefore they might be considered to have advantage when it comes to sales and store customer experience. However we feel that our own store, which we hope to have by the start of year 3, will only be in the UK and our brand shall only stock garment product in other department and independent boutiques around Europe.
A competitive matrix of Coat Garments and Accessories have been listed below. COMPANY
PRODUCT
PRICE OF BRANDED COATS
Moncler
Coat Range
Between £425 to £835
Burberry
Coat Range
Between £295 to £1,095
Canada Goose Coat Range
Between £225 to £730
Barbour
Coat Range
Between £199 to £479
Stone Island Coat Range
Between £375 to £950
C.P Company Coat Range
Between £285 to £695
Ventile Coats Coat Range
Between £279 to £329
COMPANY PRODUCT
PRICE OF BRANDED ACCESSORIES
Moncler
HOOD
Between £141
Barbour
HOOD
Between £29.95
Stone Island HOOD
Between £110
Pricing Position and Structure MyCo’s strategy will be to educate its consumer through marketing about it shell fabric and innovative designs that make the product different to many others on the market. They will stress on the quality of the product, its protection for the consumer in all weather conditions and its easy care and the design of the garment. The Pricing of the MyCo coats will be between £400 and £800 and accessories will range between £40 and £110 this is so that it keeps in the price range of it competitors. With it not be a well establish brand products its important that it is not priced to high, however in the future the company can consider change the price of the products
Customers Our customer market are male consumers, in Greater Manchester and will later target to a wider range of male consumers in other UK cities such as Glasgow, Greater London and future customers will be to expand to European cities such as Paris, Copenhagen and Berlin. Our customer characteristics are those that live within the city and also rural areas and travel to the city of Manchester for work and socializing. Tourist that visit the region will be targeted and during the launch this will be key in targeting tourist who will visit London for Fashion Week which is a marketing stage to share the great British designs and designers.
The partial market segments have means of disposable income and are seeking an upscale, trendy, comfortable, coat band to invest and purchase. These are the type of
people who spend their money on that brands we are competing against stated in the competitive matrix.
Market Survey Results On the Launch of the product a market survey for the consumers coming to the exhibition will be conducted with the following questions. • • • • • •
Where do you see this product being sold Do you agree with choice of Fabric How Unique is our Coat How Clear is our Branding What Price Would Do you Think we Have decided to Price it at What Price would you pay for the Item
Market Potential The MyCo brand has chosen a niche market on menswear market, being one of the wettest cities in the UK the information we have gathered during the research & design process of the coat means the MyCo brand would be a great British brand that specializes in coat to be part of the fashion industry. The potential of this market is growing as menswear market is increasing in sales especially luxury brands with good quality and that are long lasting and seem to be a good investment.
Services MyCo brand is to insure to provide top service to all customers who purchase their branded items. Providing excellent service is key to the business and this will keep the MyCo customer happy.
Stockiest The MyCo brand is a high end consumer brand that specialize in outwear coats that are trendy aesthetic appealing to their customer market and The location where the garment products will be stocked and sold is key to the factor, as this has to be where our targeted consumer shop. The company shall create meetings with the Following retail company’s to stock their garment in their store in Manchester in the Firs Year. • Selfridges Manchester • Oi Polloi These have been specifically chosen because of the customers whom come in to the store. The choice of only stocking items in two store in Manchester is because its to keep the element of exclusivity.
Promotion The MyCo brand will begin its success through word of mouth and social media such as • Twitter • Facebook • Linkedln • Instagram • Pintrest • Youtube Key marketing strategies will be important in gaining success in other countries. Our first market strategy is holding an exhibition at one of the universities in Manchester inviting small boutique mangers also inviting one or two of the bigger department stores, Investors and Bloggers with a good social networking base and Customers would be a great way to spread the news of the company and its product.
The exhibition will than move to other cities such as London during London fashion week and also other cities during their fashion weeks such as Copenhagen, Paris, Munich so their can be more publicities on the brand and its products. Lookbooks will be stocked at the exhibition space to be taken away by customer and investors. Our first lookbook orders will be 300copies, which are priced at 15.49 per copy and will be purchased from blurb for the launch during Fashion Week.
Start-‐up The MyCo brand currently has no financial support at the moment as the current founders and creators are all current masters students who are hoping after they graduate this will be theirs first business together. At the moment the owners are seeking investment for the Launch of their product and exhibition support for renting out space in other cities and also for the garment manufacturing and stock for the first year that will be sold in small boutiques and pop up shops during fashion week in the following cities Manchester, London, Edinburgh, Paris, Munich & Copenhagen for the firt year. The company has currently created sample garments coats. The mission and aim is to have finished sample product to showcase at an exhibition of the product that the brand is hoping to expand on and sell to consumers. The Exhibition will be the key in the start up of our business as this is where we hope to invite our investors and customers to have a look at what we are hoping to share in the fashion retail market. To save the cost of manufacturing the garments with no orders, We shall give consumers the opportunity to pre order their garments at the exhibition with a deposit fee for the production of the garment and the rest of the price to be paid on day of picking up garment. Another option of paying full price for the garment and having it posted straight out to the consumer or to be picked up will also be given. The Exhibition is our main means of selling our brand and products. This would be just as important as the business plan itself as inventors can visually see the product and the reaction from the consumers. An online website & ecommerce site should be launched for the exhibition this will give a real feel of the brand and would create more opportunity for the brand to have some capital. All package delivery will be done using the royal mail. The royal mail offers storage and setting up a delivery. It’s important to help British companies in the UK.
Online Website & Ecommerce E-‐commerce relates to the purchase and sale of goods and services over the Internet, whether business to consumer or business-‐to-‐business. It can form part of the Omni channel business model (see below). Increasingly e-‐commerce is broadening to include m-‐commerce which is shopping via a mobile device and s-‐commerce which is shopping via social media networks The company shall build an online Ecommerce store this will be needed in the start up of the company. As the exhibition moves to the different cities to generate revenue and develop a hype of the product, we shall stock a small supply to be purchased at the exhibitions. After year two the company can start applying for recognition through awards such as the UKFTAwards and begin collaboration with other companies such as Mackintosh, this creating one off limited addition collections. This is because consumers especially male are more likely to purchase garments that are exclusives. MyCo brand will encourage frequent feedback from their customers through online surveys on products and their quality as well as the overall customer experience.
Potential Sales Volume Growth
MyCo’s potential sales operation strategy will be monitored by sales. The brand will aim to establish its names as business that provide its customers with good quality product and customer service, meet sales goals. MyCo will then in the future increase production and expand range of products and locations of stock. The main important goal for the company is to insure that they deliver the best quality products to consumers so they are willing to come back and purchase a different product and insure as not to grow out of business. The start up stock will only be sold at two stores and online. This is to minimize any risk of failure. The online store is so that stock can be purchased from all over the world and to give the consumers and idea of the brand and products sold. The choice of only stocking in two local stores where the brand was established Manchester is for the brand to keep its connection and experience of customer.
Quantity
MyCo will only stock items in warehouse, which are enough to sell online and to sell in two local stores based in Manchester, Selfridge and Oi Polloi. Online stock however will give the product choice to be purchased in 4 different colour fabrics which are Red, Navey Blue, Kaki, and Orange. The table below outlines the future consumption planning of every product in the first three years for both online and store channels. The stock for the first year launch is to be the same in both stores that will be stocking our items. This will than in the future give us an idea to evaluate where our customers like to purchase our items and that we can plan for futures stores to maybe stock our products in similar stores. The projected quantities in the second and third years between 2 stores are initially made equal and will be updated based on the actual sales of the first year. The total of coats which are expected to be sold in the first year are 972. In the second year, which is the mature period of the product life cycle, there is an increase of 116% in terms of quantity making the total quantity consumed 1,980. In the last year, the consumption is expected to reach 2,844. Total online sales of the whole three years are 5,580 accounting for 97% of total products sold. The total stock of hood are expected to be sold 1248 in the first year. The second year, would be the mature period of the product life cycle, and there is an increase of 2% in terms of quantity making the total quantity consumed 1,980. In the last year, the consumption is expected to reach 3,600. Total online sales of the whole three year are 5940 accounting for 12% of total products sold. The Accessories range in retail should sell more as the product add more value to the accompanied product for MyCo being the coat. As not everybody is able to offered buying every coat that can adapt buy purchasing the hood range which changes the style of the product making it more adaptable to a consumer lifestyle. Quantity Distribution Product Location Product channel line Year 1 Year 2 Year 3 Total Online sales Coat A 300 660 900 1860
B C
300 300 900 12 12 12 12 12 12 72 972
660 660 1980 20 20 20 20 20 20 120 2100
900 900 2700 24 24 24 24 24 24 144 2844
1860 1860 5580 56 56 56 56 56 56 336 5916
360 360 360 1080 28 28 28 28 28 28 168 1248
660 660 660 1980 52 52 52 52 52 52 312 2292
960 960 960 2880 120 120 120 120 120 120 720 3600
1980 1980 1980 5940 200 200 200 200 200 200 1200 7140
Subtotal
Store sales
Coat
A Selfridge B C A Oi polloi B C
Subtotal Total – Coat Hood Subtotal
Online sales
Store sales
Hood
D E F
D Selfridge E F D Oi Polloi E F
Subtotal Total – Hood
Selling price
The three different coat styles which are A, B and C, will be priced £400, £600, and £800, respectively. For the accessories hood range, the three different styles of D, E and F is also priced respectively at £45, £65, and £80. The price is noted as quite similar to those of the competitors. The table below shows a sales and profit growth of the three different coats and accessories.
Manufacturing
Regarding manufacturing costs, unit cost of each product is expected as following: A at £360, B £540, C, 720, D £45, E £65, and F £80. The unit cost includes cost of material, labor cost, overheads, distribution and advertising costs.
Profit margin and sales and profit growth analysis The profit margin of every product is calculated as 10% in all three years, which fits with the common trend of net profit margin in the Fashion Industry, between 3% and 11%. In the first year, total sales are 662 second years is 1,447,315 sales growth of the second year is 119%. 2,052,205 the sales growth of the third year is 42%. Predictable last year of the product life cycle
2,500,000
2,000,000
1,500,000
Sales Cost
1,000,000
Prosit
500,000
-‐ Year 1
Year 2
Year 3
Sales of hood ranges from 10% to 12% during the three years. 160,000
13%
140,000
12%
120,000 12%
100,000 80,000
11%
Sales % Change
60,000
11%
40,000 10%
20,000 -‐
10% 1
2
3
To meet our sales goal the company will need to hire sales reps for Selfridges and consider training Oi Polloi & Selfridges own brand staff, this will then give the sales reps the tools they need to maximize every customer interaction and increase revenue for the business.
Customer Service Plan It’s an important goal MyCo meets consumer needs, assuring consistent feedback, quality service. MyCo will insure to provide quality products, polite communication, efficient service and acknowledgement of feedback from consumers good or bad. Any errors must be corrected and done so efficiently with good logical thinking rather than ration. Social media networks will be set up so that it is easier for customers to send efficient feedback on products and service of the company.