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CODE
PATRIOTS
Rachael CoonceRebecca McAllisterRebecca Riesinger
Sarah Krebs
Assisting individuals in personalizing a professional dress code
MISSION
Grow to be Seattle’s leading company in assisting business professionals to dress for success by providing consulting and
personal shopping services
VISION
• Strong understanding of industry standards for professional attire
• Personalized attention for each customer• Friendly staff• High ethical standards• Provides flexible business hours, including
weekends
SWOT-STRENGTHS
• Small start-up facility limits business capacity• A portion of limited funds devoted to start-up costs• High possibility of little to no profit as a start-up
company• Employees are new to CODE’s standards and
requirements so there may be some inconsistencies in dress code seminars among employees
SWOT-WEAKNESSES
• 73,997 registered firms in Seattle, WA provides ample opportunity for business
• Ability to control the majority market share as there is little competition
• Build new clientele via word-of-mouth and advertising• Of the 620,778 people in Seattle, WA 73.8% are between
the ages of 19 and 64• Set high market standards for new competition to live up to• There are currently very few dress code assistance
companies in place• Helps corporations achieve dress code uniformity across
local branches
SWOT-OPPORTUNITIES
• Economic slow down• Free dress code information in books and on the internet• With a growing population Seattle, WA will attract more
competitors• Large population may make it difficult for a small
business to survive• The newer business concept for the area makes getting
CODE’s name out there difficult• Consumers may not understand the need for CODE’s
services and deem them unnecessary
SWOT-THREATS
Market GrowthBeginning of the Market Growth Stage. Personal
shopping services are still growing and expanding into new markets.
Sales and profits will be high, but with only 12 competitors people are still relatively uninformed
with regard to this type of service.
PRODUCT LIFE CYCLE
1. Purple Store
2. GoFetch4U LLC Concierge
3. Plaza 305 Assn.
4. Fund for Personal Liberty
5. Cami Anna Lynn- Wardrobe Styling
6. Errands R Us
7. D and T Opm
8. Side Show Variety
9. Wardrobe Makeovers
10. Your Faithful Shopper
11. Sunset West Co-Op
12. Lulu Jax
CODE’s Share of the Market: 1/12 or 8%
COMPETITORS
Our Share of the Business Market Population:Business market population x Our share = 4,095,032 x 0.08 =
327,603
Our Share of the Recent Graduates Population:Recent graduates x Our share = 1,389,744 x 0.08 = 111,179
Our Share of the Seattle, WA and King County, WA Populations:
Expanding from Seattle to King County
Seattle pop. X Our share = 620,778 x 0.08 = 49,662
King County pop. X Our share = 1,969,722 x 0.08 = 133,578
49,662/133,578 = 0.37 x 100 = 37% increase in customer base by expanding from Seattle to all of King County
OBJECTIVES
Our Share of the Seattle Population Based on Gender:Male pop. x Our share = 310,394 x 0.08 = 24,832
Female pop. x Our share = 310,394 x 0.08 = 24,832
OBJECTIVES CONT.
The target market includes all individuals in the professional environment adhering to a formal
dress code within the Seattle, WA area.
TARGET MARKET
All Customers’ Needs:
-The need for professional attire in the workplace
Generic Market:
-Individuals who are in the workforce, within the city of Seattle.
Broad Product Market:
-Individuals who adhere to a professional dress code.
Homogenous Product-Markets:
-Recent graduates (ages 20-34)
-Older business professionals who need their wardrobe updated
-Time sensitive professionals (ages 35-50)
-Returning to the workforce (former stay-at-home mothers)
SEGMENTATION STRATEGY
Qualifying:
The homogeneous dimension in all submarkets is the need for dress code adhering clothes.
Determining:• Age• Specific needs• Income level• Family life cycle• Social status• Urban/Suburban
DIMENSIONS
Recent Graduates• Ages 20-34• Needs professional
dress assistance• Needs a professional
wardrobe• Medium income• Men/Women• Social status important• Urban
Older Business Professionals• Ages 35-65• In need of an updated
wardrobe• High income• Men/Women• Family life cycle established• Suburban
Time Sensitive Professionals• Ages 35-50• In need of professional
clothing• No time to spend
shopping• High income• Men/Women• Career-oriented• Urban
Returning to the workforce• Ages 30-45• In need of professional
clothing • In need of easy dress• Medium income• Mostly women• Family life cycle established• Suburban
OUR MARKET BASED ON SEGMENTATION
• Recognition and Problem Awareness• Information Search• Evaluation of Alternatives• Purchase Evaluation• Post-purchase Evaluation
DECISION MAKING PROCESS
The need our business will fill is the need for professional attire in the workplace.
RECOGNITION AND PROBLEM
AWARENESS
Extensive Problem Solving:Consumers will put a lot of time into deciding what sources to go through. The consumer is
satisfying an important need. This may also be the first time a customer has used this type of service.
INFORMATION SEARCH
Customer will evaluate whether to choose a book, personal shopping service, or maybe just go shopping themselves. Our personal shopping
service will provide knowledge about fashion and professional dress while also providing a
personalized service.
EVALUATION OF ALTERNATIVES
The customer then decides if we are the right solution to meet their needs.
PURCHASE EVALUATION
Customers will decide how they felt about our service and if they will use it again. If our service
meets their expectations, they may purchase again and recommend our service to friends.
POST-PURCHASE EVALUATION
• Product• Price• Place• Promotion
MARKETING MIX
Brand Positioning Statement:
Our personal shopping consultants are knowledgeable in the areas of fashion and professional dress. We offer high quality, personalized service at an affordable price.
PRODUCT
Product Attributes Physical Consequences
Psychological Consequences
Values
Personal Shopping Service
Specialize in business attire
Wardrobe follows professional dress code
Confident they are dressedappropriately
Dressing appropriately for their work environment
Personal attention for each customer
Getting their money’s worth
Fit-in in professional environment
Competitive pricing
Dress for success
Knowledgeable staff
MEANS END CHAIN
Regular store
Low Customer Service
CODE
High Customer Service
Internet
Books
PERCEPTUAL MAP
High Price
Low Price
Objectives: Sales Oriented• Keep our prices competitive with our market’s competitors • Increase market share from our current 8%
Discounts• Referral discount• First time customer discount• New grad discount, valid first six months after graduation
PRICE
• Centrally located downtown location that is convenient for customers
• Website advertising our services and location
• Direct channel with no middleman
PLACE
AIDA:• Attention
- Yellow pages-Internet-Seminars at businesses
• Interest-Use advertising to remind customer of our
service
PROMOTION
• Desire
-Give out discount coupons at seminars
-Information brochures showing before and after photos
• Action
-Promotion via yellow pages and internet
-Discounts for first time customers and recent grads
PROMOTION CONT.
“King County, Washington.” U.S. Department of Commerce. U.S. Census Bureau, 2012. Web. 30 Oct. 2012. http://quickfacts.census.gov/qfd/states/53/53033.html
“Pierce County, Washington.” U.S. Department of Commerce. U.S. Census Bureau, 2012. Web. 30 Oct. 2012. http://quickfacts.census.gov/qfd/states/53/53053. html
“Population: 2011 Data Book.” Office of Financial Management, 2012. Web. 29 Oct. 2012. http://www.ofm.wa.gov/databook/pdf/population.pdf
SOURCES
“Seattle (city), Washington.” U.S. Department of Commerce. U.S. Census Bureau,
2012. Web. 30 Oct. 2012http://quickfacts.census.gov/qfd/states/53/5363000.html
“Seattle Personal Shopping Service.” Seattle Yellow pages. Yellow Pages, 2012. Web.
15 Nov. 2012. http://www.yellowpages.com/seattle-wa/personal-shopping-
service?g=Seattle%2C+WA&q=Personal+Shopping+Service
“Snohomish County, Washington.” U.S. Department of Commerce. U.S. Census Bureau, 2012. Web.30 Oct. 2012. http://quickfacts.census.gov/qfd/states/53/53061.html
SOURCES
“Washington.” U.S. Department of Commerce. U.S. Census Bureau, 2012. Web. 29 Oct. 2012. http://quickfacts.census.gov/qfd/states/53000.html
SOURCES