Meera Sadiq - Ent4013 - Final Individual Project (SS)
Meera Sadiq - Ent4013 - Final Individual Project (SS)
Meera Sadiq - Ent4013 - Final Individual Project (SS)
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Table of Contents
1.0 Introduction....................................................................................................................... 3
4.1 Segmentation................................................................................................................ 4
4.2 Targeting....................................................................................................................... 4
4.3 Positioning.................................................................................................................... 5
9.0 Reference......................................................................................................................... 8
Appendices............................................................................................................................ 9
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1.0 Introduction
The phrase start-up refers to a business in its early stages of development. In which Start-
ups are established by at least one business visionaries who need to foster an item or
administration for which they accept there is an intrinsic demand in the society that this
business can capitalise on (Slávik, 2019). To understand this concept this report aims to
create an online fashion retail business in the E-commerce sector named: Stylin Fashion
Store. Moreover, it aims to provide Environmental analysis, STP along with marketing mix
as well as all the strategies to be used to make a successful online business; upon which
conclusions and recommendations are drawn.
Opportunity Threats
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Finance: The department's job involves dealing with a company's cash and assisting with
self-direction. It thus allows firms to stay on top of things in today's society (Wulandari &
Subriadi, 2021).
SCM: “Supply chain management” is the system that controls the movement of
commodities, communications, and cash involved with a product or service, starting with the
sourcing raw materials and ending with the shipment of the item to the customer's final
destination.
4.1 Segmentation
Geographic: Stylin Fashion is an online Fashion store that can be accessible from anyplace
through the use of the brands online shopping website or mobile application (Wulandari &
Subriadi, 2021). Though the brand is targeting the UAE in the initial stages; retail sales can
also be done worldwide as the brand expands to new overseas markets.
Psychographic: People who are inclined to fashion articles especially clothing are the
targeting audience of the brand. Individuals who are looking for reasonable pricing in
clothing items are the focus of the firm.
Behavioural: Individuals who are fashion forward as well as provide interest in acceptance
of new fashion trends are the primary concern for the online fashion retail store (Slávik et al,
2021).
Demographics: Stylin Fashion is targeting the lower to the mid classes of the society as the
bulk of the population can be catered to by this approach. People within the ages of 18- 40
are the targeted demographics of the company.
4.2 Targeting
This refers to the process of identifying the most desirable parts from the division stage
(segmentation), primarily those that would be most useful to the company. An ideal market
segment is a group of possible customers to whom you want to sell goods or services
(Slávik et al, 2021). Any collection can be subdivided into smaller chunks. Age, location,
wage, as well as manner of life are usually used to group fragments together. The different
methods for selecting target business sectors are: pursuing comprehensive economic
sectors with a single marketing blend, limited to a single segment, as well as pursuing
various market segments using a wide range of marketing promotions with the help of
conventional and traditional promotion approaches.
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4.3 Positioning
This is an approach to marketing strategy, which highlights the benefits of Stylin Fashion
products to a certain target audience (Moriset, 2018). Advertising agencies can find out
which population to target based on positive attitudes to the goods utilising analysing the
data gathered as well as centre gatherings. Targeting a marketplace is a more
comprehensive approach to selling to a specific buyer that includes combined market
segmentation research as well as brand positioning (Moriset, 2018). This also refers to the
many approaches or projects that a company uses to introduce a brand to its market
segment. In its most basic form, positioning refers to how a product compares to certain
other similar products and services in the existing marketplace, including in the minds of
potential customers as preconceived notions about the brand's reputation.
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4.5 Strategic Positioning map
The map shows the main rivals of Stylin Fashion that are ZARA, H&M and OUNASS. All
delve into online retail sales. The grouping is done on the basis of quality and price aspects
off all business and show Stylin Fashions stregic positioning in the UAE market.
Quality: HIGH
Stylin
Fashion
ZARA OUNASS
Quality: LOW
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6.0 Profile and structure of team members
The start-up includes 10 members in the initial team and the designations are made
according to the division of business functions. The 10 people can be put into place
according to their ability to fill up key job roles with their associated responsibility
(Svatošová, 2021). They are:
1. “Chief executive officer (CEO)
2. Chief financial officer (CFO)
3. Chief operating officer (COO)
4. chief information officer (CIO)
5. Human resource
6. Production/ Manufacturing
7. Information technology
8. Marketing
9. Sales
10. Social media handler”
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9.0 References
Slávik, Š., Bednár, R., Hudáková, I. M., & Moravcíková, K. (2021). THE STRUCTURE OF
THE START-UP BUSINESS MODEL, ACCOMPANYING CIRCUMSTANCES AND
CONSEQUENCES. International Journal of Entrepreneurship, 25, 1-21. Retrieved
from:
https://www.researchgate.net/profile/Stefan-Slavik-2/publication/357568887_Slavik_
S_Bednar_R_Misunova_Hudakova_I_and_Moravcikova_K_2021_The_Structure_of_
the_Start-
Up_Business_Model_Accompanying_Circumstances_and_Consequences_Registere
d_Scopus_International_Journal_of_Entrepr/links/61d45e13b8305f7c4b209f18/
Slavik-S-Bednar-R-Misunova-Hudakova-I-and-Moravcikova-K-2021-The-Structure-
of-the-Start-Up-Business-Model-Accompanying-Circumstances-and-Consequences-
Registered-Scopus-International-Journal-of.pdf
Wang, Y., Jia, F., Schoenherr, T., & Gong, Y. (2018). Supply chain-based business model
innovation: the case of a cross-border E-commerce company. Sustainability, 10(12),
4362. Retrieved from: https://www.mdpi.com/2071-1050/10/12/4362/pdf
Wulandari, A. D., & Subriadi, A. P. (2021). Preparing the Startup Ecosystem for Building a
New Startup Business During Pandemic: A Systematic Literature Review.
International Journal of Electronic Commerce Studies, 13(1), 137-160. Retrieved
from: https://www.academic-pub.org/ojs/index.php/ijecs/article/download/1996/438
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Appendices
Appendix 1: Start-up funding stages
(source: https://tms-outsource.com/blog/wp-content/uploads/2019/11/funding-stages.jpg)
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