Head to Toe Boutique Business Report

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Head to Toe Boutique Business Report

Principles of Retailing

Fall 2014

MKTG 3135 Section A

Presented by:

Tracy-Ann Griffiths

Anna Watson

Shaneka Thomas

Andrea Webb

November 17, 2014

Abstract

Head to Toe is a trendy boutique located in the affluent Buckhead neighborhood in uptown Atlanta. The store name, Head to Toe, portrays to customers that all their clothing needs will be fulfilled at the store. From hats, to casual wear, dresses, and a collection of shoes to choose from, the customers will be thrilled at the variety that Head to Toe has to offer. The name is compatible with the store image because the name implies simplicity, elegance, Head to Toe recognizes its position in the minds of consumers as a mid to high priced boutique with a high level of customer service. Compared to its competitors, Head to Toe gains an advantage with the tailoring and personal shopping services provided. Customers recognize that Head to Toe will consistently provide them with quality accessories, apparel, and shoes for a fair price. In this report Head to Toe outlines its business plan which includes a description of its initial developmental strategy, expected margin/turnover, prices and services offered as well as the store image of the boutique. This report also outlines the target customer base, expected competition, marketing area information, and store design. All costs have been carefully calculated and tailored to Head to Toe’s potential cost, expected sales and profits, as well as planned marketing and advertising efforts. This report has been carefully crafted and revised in an effort to attract potential investors or business partners. Head to Toe understands its position in the market place and wishes to use this report to show others what Head to Toe has to offer.

Table of Contents

Abstract        2

Part 1- Initial Development        5

Strategic Description        5

Variety/Assortment        5

Margin/Turnover        7

Price/Service        8

Store Image        9

Target a customer base and describe        10

Market Segmentation        10

Customer motivation        11

Expected Competitive Environment        11

Competition        11

Choosing an appropriate name for the store        13

Target Market        13

Store Image        13

Positioning        14

Services        14

Part 2: Market Area and Store Location        16

Potential regional area locations: Buckhead, Ga (30326) and Arlington, Va (22211)        16

Economics:        16

Size of Target Market        19

Advantages and Disadvantages of each area        20

Index of Retail Saturation        22

Choose and Justify        23

Site Analysis        24

Part 3: Designing the Store        27

Exterior Design        27

Store Front        27

Signs        27

Architectural aspects        29

Interior Design        30

Atmosphere        30

Layout / Product Location        31

Space Allocation        34

Estimate Costs        34

Estimates on Costs to Renovate        35

Part 4: Advertising and Promotion Campaign        36

Advertising and Promotion Budget        36

Media Options        36

Promotion        40

Estimated Costs        41

References        43

Part 1- Initial Development

Strategic Description

Head to Toe Boutique will sell a wide variety of women’s clothes, shoes, accessories and hair accessories. It offers an in-house tailoring service for customers. The business will also offer a complimentary outfitting service where the customers can request a “Head to Toe” outfit to be put together for their specific needs or requests. Head to Toe falls under the NAICS code of 448120, which is women’s clothing stores that primarily focus on new women’s and misses’ clothing that also provide basic tailoring and alterations (U.S. Census Bureau). The SIC code that the business falls under is 5621, which is women’s clothing stores that sell general lines of women’s clothes (SIC Division Structure).

Variety/Assortment

        Head to Toe will offer five product classes and four product types in each class, therefore; the variety is five and the assortment is four. The five product classes that the store offers are clothing, shoes, jewelry, handbags, and head accessories. The four product types associated with clothing are casual wear, outerwear, formal wear, and lounge wear. Although most customers will be interested in the daily, high-quality casual wear, Head to Toe also offers vintage, cocktail dresses and special event dresses to fulfill the customer’s needs. The four shoe product types include, flats, sandals, heels, and wedges. The company’s shoes will be of higher quality and made of only the best materials so the shoes are durable and long-lasting for the customer. The jewelry product types offered are necklaces, earrings, bracelets, and rings to provide a broad assortment of accessory needs. Quality handbags are offered at the store. The four product types are stylish backpacks, handbags, clutch purses, and messenger bags to target the business women. Head accessories will include headbands, headscarves, hats, and stylish hair pins to embellish and compliment the formal looks.