Business Analysis Definition of the Business This hypothetical business is selling of T-shirts in a local market setting. These T-shirts are targetedto both male and female teenagers between the ages of 16 years and 35 years. They can wear it for their casual use and enjoy it with their friends and family members. It is an informal dressing routine which can be employed anytime, anywhere. It is a way of life and should be enjoyed as such. This business centers on the premise of bringing revenues from the sale of T-shirts which seem to be a hit within the chosen category. Market Segments The market segments targeted by the T-shirt business will mostly be comprised of male and female teenagers between the ages of 16 and 35 years.
These T-shirts will be readily available at their desired clothing stores and retail shops. They will be able to relate it to their clothing needs since these T-shirts are trendy and look very stylish. These teenagers will wear a sense of ownership and pride on their bodies and thus act as a cool extension of their respective personalities.
Hence the market segment chosen justifies the basis of these T-shirts which are bringing in a much needed change within who they are and what they showcase to their peers. SWOT Analysis Strengths The T-shirt business will focus on the best fabric that is available within the related market and sell it as such to the end consumers. Also the manner in which legalized labor is employed for manufacturing these T-shirts, one can easily understand that the internal basis of the company is built upon trust of its employees who are selling something authentic and genuine.
This would help the business grow as a whole because it will then have a positive word of mouth in front of the people, and try its best to make its mark internally within the company as well. Weaknesses The weaknesses that exist are in terms of the number of stores that this T-shirt company has at the moment. Even though it is readily available within 3 stores in the city, the company feels that these stores need to be increased. This is in line with the competitive T-shirt brands which have at least 8 or 9 of their own stores in the locales of the city.
The company feels it can do more in terms of increasing its sales staff and hence building the brand as a whole. There are many issues which need to be resolved within the companys management and hence all of these are regarded as the weaknesses. Opportunities As far as the opportunities are concerned, this T-shirt company is doing all it can to grow its business. However, many opportunities are still waiting to be tapped.
One such opportunity is in terms of understanding that the company has to invest heavily within improving its brand image within the relevant market domains. Also it must hire some of the best names in the marketing business to be assured that success shall creep in easily. These opportunities will come about when there is a dire need to comprehend that the environment will grow leaps and bounds once the energy is there to set things right within the relevant regimes. Threats Similarly, the threats are many and should all be understood in order to have a better know-how regarding the T-shirt company and where it might be going wrong.
The mushroom companies that seem to open up every now and then pose as a huge problem for this company. Also the competitors do bring in discounted deals and offerings which entice the local buyers and which essentially pose as a threat in the long run. The need is to understand where to set the line between acceptable offerings and unacceptable demands. These threats need to be pinpointed so as to bring upon a greater sense of ease and understanding. Marketing Mix The business aims to sell T-shirts at the present yet has in mind to sell other clothing accessories as well in the times to follow.
On the part of the company, the feeling is that this is a much required proposition, and more so in order to survive in the long run. The T-shirt phenomenon might fade out soon and be replaced with some other clothing item, and this is one factor that has to be understood by this company today than it becomes a problem at some later stage.
Having said that the company is driven to exceed its own expectations, and do something unique in order to touch base with the customers in the coming times. Distribution/Place The place where these T-shirts shall be sold are solely at the company operated retail outlets. This means that three shops will cater to the needs and requirements of the target audience. Even though this is not enough, the company is doing much more than one can see at the present. It is in line with opening a few more stores in the nearest future.
The owners believe that the retail store availability shall have good sale value for the brand. The stores are open 6 days a week from 11 in the morning till 10 in the night with 2 shifts operational for the sales staff. Price The price is set between the industrial leader and the third position holder within the T-shirt segment of the citys business domains. Price is so set to have minimal profitability at the present because the business is doing all that it can to make its mark and be registered within the minds of the consumers.
The T-shirt company is basing its pricing on value for money and hence the prices are not that high, which the consumers notice and hence make the purchase instantly. Even though sales are coming in at a good pace, though the owners feel there still is room for having even more sales in the future. Promotion The company is making use of advertising and for that out of home solutions are being looked into.
The company has placed giant billboards at several roundabouts in the city as well as at a few intersections on main roads. This is because they want the people to be aware of the brand and hence visit the retail stores. The company is basing its marketing budget primarily on advertising at the moment but wishes to increase it further for publicity and sales promotions in the coming times.