Question

Women on the Go is a startup company targeted at women who need assistance with the selection and purchasing of their clothing/accessories. This service is aimed at the more affluent customer who simply does not have the time and/or knowledge to dress to the business or social setting that they are expected to fulfill. Initial research will provide insight into the types of services that this particular target market would be interested in.

• Provide a segmentation and target market analysis.
  • In this section of the marketing plan, you should identify the four criteria useful in segmenting the market, and apply them to your company. Explain how identifying the target market is more clearly defined once a marketer has conducted segmentation on the population. Explain several target markets for your company using detailed explanations.
• Include a competitive and industry analysis.
  • This section of the marketing plan should identify three or four competitors of your company. These can be direct or indirect competitors. (Note: Not all companies have competitors.) Differentiate each competitor based upon multiple criteria. Additionally, conduct an industry analysis by looking at the health of the industry in which your company resides. Identify whether the industry has grown or shrunk in the last 5–10 years. Explain why understanding the competitors and the health of the industry are important elements of the marketing plan.
• Provide a SWOT (strengths, weaknesses, opportunities, and threats) analysis.
  • In this section, you will compile a SWOT analysis of your company. The internal strengths and weaknesses as well as the external opportunities and threats need to be identified and explained (include at least 2–3 elements under each area of the SWOT). The value proposition will be demonstrated through a strong showing in the strengths section of the SWOT analysis. Reference the SWOT analysis explanation in the Unit I Lesson for additional insight on how to compile this analysis.

Answer 1

Customer Segmentation:

It is the process of dividing the customer into groups based on certain criteria such as gender, age, occupation etc.

Marketing Objective:

To produce and sell fashion garments and accessories exclusively for women’s with respect to their place of residence.

a. Market Plan:

Customer Segment
Gender	Female
Age	-
Income Level	-
Product	Fashion garments and accessories
Country	India, China & European Countries
Intensity of competition	High
Level of Profit	Medium
Demand condition for product	High
Supplier No.	High

Explanation:

• Herein female customers are focused irrespective of age and income level, this is because in case of high-value products reduce sales. Also during the initial phase, more sales are required to build a brand image.
• A country such as India, China and European countries were chosen based on the women population. On view through the global population, the majority of the female is present in India, China and European counties, hence there is a high possibility of achieving sales and brand promotion.
• Despite there being a high level of completion in the industry, every company within the industry are making more than considerable profit due to the demand for fashion garments and accessories. As per the forecast it is expected to increase due to increasing population.

b. Major Competitors in concern region:

1. Zara [Direct – Competitor]
   1. Customer Segment
      1. Female
   2. Major Product
      1. Garments and Accessories
2. Raymond Ltd [Indirect – Competitor]
   1. Customer Segment
      1. Male & Female
   2. Major Product
      1. Suiting’s
3. Loyal Group [Indirect – Competitor]
   1. Customer Segment
      1. Male & Female
   2. Major Product
      1. Textile and apparels
4. Mandhana Industries Ltd [Indirect – Competitor]
   1. Customer Segment
      1. Male & Female
   2. Major Product
      1. Printed garments
5. Alok Industries Ltd [Indirect – Competitor]
   1. Customer Segment
      1. Male & Female
   2. Major Product
      1. Yarns & Garments

Illustration about the Industry:

The industry is growing annually at a rate of 5.5%. currently, this industry is worth $2.4 trillion. McKinsey forecast illustrates there is a high possibility of a better growth rate in this industrial segment.

Strategy planned:

As there being many competitors in the garment segment, I am planning to focus more on accessories and less on garments product segments. This would help the company to attire brand image, sales and profit in considerably less time.

c. SWOT