Marketing Management Essay

Executive Summary

What if I told you that you can acquire fashionable vesture and accoutrements and the lone gimmick was that you have to clean out your cupboard? If you said yes. so Jenny’s Closet Party is the dynamic reply for you. Jenny’s Closet Party LLC is designed with you in head. by making the ultimate “Girls Night Out” experience. uniting manner. nutrient. and merriment while mixing amongst friends. Uniquely trading from one fashionista’s cupboard to another and the staying points are donated to a local charity. Sounds the perfect win-win scenario right? Jenny’s Closet Party. “A great alibi to clean out your closet” . First Measure: Upon reception of an invitation or retrieval of circular. specific inside informations will be highlighted as to a subject. what points are being requested. deadline for dropping of your points and besides what you should anticipate the twenty-four hours of the event. Go through your cupboard and happen articles of vesture or accoutrements that you would wish to trade. The points must be in manner. of good quality and status. Some of the classs ( depending on subject ) may include: vesture. places. earrings. scarfs. jackets etc. Second Measure: Bring the points to the Donation Center at the Porter County Expo Center two hebdomads prior to events ( Fridays ) from 9:00 am – 5:00 autopsy.

At this clip you will be given a verifier at this clip in which you will deliver for items to shop with the twenty-four hours of the event. Third Measure: The twenty-four hours of the event doors will open an hr and 30 proceedingss prior to shopping. At this clip while mixing. you can bask complimentary vino and horderves that will be accompanied with light music to heighten your merriment filled eventide. Besides. vouches can be redeemed for items during this clip. Fourth Measure: Prior to the scheduled shopping clip. guest will be reminded of how all this plants. rehashing the guidelines that were laid out on the initial invitation/flyer. Guests are encouraged to maintain what they have donated anon. while picking.

However. exposing and sharing their great discoveries amongst everyone creates certain exhilaration. Once the shopping clip has been launched. participants will be able to travel in unit of ammunitions and selected two points at a clip ( to maintain it just ) to buy with items. Concluding Measure: When the event is over and invitees have gone place. the staying points will be rounded up donated to a local women’s shelter. Gross saless Forecast

During the first two old ages of concern. Jenny’s Closet Party anticipates bring forthing $ 300. 000 from indorsements and corporate sponsorships. Each member of this company is responsible for the lower limit of two sponsorships ( $ 500 ) in order to make our strategic ends. We expect to bring forth the most gross revenues during the summer months.

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Environmental Analysis

Jenny’s Closet Party LLC is a little company whose central office is located at 2143 Freedom Street Portage. Indiana ; nevertheless. events will be hosted at the Porter County Expo Center located at 217 E. Division Road Valparaiso. Indiana. The company consists of eight employees ; 5 full-time and 3 parttime employees. Jennifer Smith ( CEO ) will supply the executive leading and oversee operations of every entity of the company. She will besides be instrumental in developing schemes. vision and cardinal public presentation indexs. to guarantee ends are being met. She will be the face of the organisation and will concentrate with edifice resonance and relationship with concerns. Taquanna White ( Business Manager ) will work closely with the CEO. pull off the daily concern operations. Serve as our proficient expert with acute cognition in finance and computing machines. Serves as back up in absence of the CEO a. ensures undertakings are being carried out. wise mans and manage staff.

Bonita Sims is the ( Bookkeeper ) . Her duties include maintaining path of fiscal minutess. audits. paysheet. procurance and stock list. Georgia Manuel ( Head of Marketing ) is our manner expert. She will be in the community. charge of gross revenues and selling and keeping our Social Media/Blogging maintain the company abreast of the latest tendencies and manner intelligence. Dionne Payne ( Administrative Worker/Hostess ) serves as supportive staff making: undertaking coordination. fix studies. run intoing agreements. manage calendars. reply phones calls and serve as a hostess at the events. Our three parttime employees will help with readyings taking up to the event every bit good as working on the twenty-four hours of the event.

Competitive Forces:

Jenny’s Closet Party has been confronting challenges over the last few old ages with consumers shopping in the thrift and resale spheres. The one time known blue second-hands shops offering outdated vesture have become the ultimate hoarded wealth Hunt for alone discoveries at a great monetary value. Much of the recent growing can be attributed to immature shoppers. many of whom are go throughing on trips to the promenade in favour of thrift shops ( Tully. 2012 ) . Resale shops offer a assortment of alone discoveries at a fraction of the cost of retail shops and propose great hazard to new startup companies like Jenny’s Closet Party. The Goodwill industry is a well-known non-profit organisation that has been around for over 100 old ages. There immense targeted audience loves bargain shopping who are drawn by shopping inducements and those by who donate to their cause of giving back to the community. “We provide employment. occupation preparation and other community-based plans for people looking to progress their callings. construct their accomplishments and further their education” ( Goodwill Industry International. 2014 ) .

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Economic Forces:

With a fluctuated economic system and astonishing unemployment rates many consumers have become more economical with how they spend their money. Although the retail industry has experienced growing. the resale industry is blooming and is doing great head manner to go the new tendency for preferable shopping. While many concerns close their doors every twenty-four hours. resale remains healthy and continues to be one of the fastest turning sections of retail ( NARTS. 2014 ) . Consumers are seeking chopper ways to salvage money and the affordability of shopping at promenades with high markup priced attire is non an option. With 1000000s of people looking for ways to salvage money in tough economic times. a turning figure of consumers have turned to resale stores to happen their apparels. furniture and family goods ( Tully. 2012 ) .

The Northwest Indiana Region’s Gross Revenue Product ( GRP ) over the past 3 old ages ( 2009-2011 ) has bit by bit increased by 3 % . Porter County’s population is 166. 557 ( 2008-2012 ) with the average family income was $ 62. 457 compared to the provinces norm of $ 48. 374. of this population 50. 95 % are adult females ( U. S. Census Bureau. 2014 ) . Over the class of the twelvemonth. family purchases rose by 0. 5 ( U. S. Department of Commerce. 2014 ) . This shows that adult females in the Northwest Indiana Region have purchasing power which has influentially contributed to the region’s economic growing.

Technology Forces:

Technology is quickly germinating and is unprecedented in the concern industry. Technology is critical and plays a major function in the success or death of a company ; finally impacting procedures. pricing. publicities and arrangement of merchandises and services. Technology force is used merely approximately in every capacity of a concern operation. from fundss. book maintaining and hard currency registries down to selling. Social Media mediums such as Pinterest. YouTube and Facebook are some of the most popular ways in which engineering has to link with consumers. Retailers with Wi-Fi allows clients to utilize their Smart Phones to research merchandises. comparison monetary values. and download vouchers with apps to do purchases. Due to the quickly turning competition of online shopping. in-store retail merchants and trading concerns must put themselves apart by run intoing the customers’ demands and supply them with the ultimate one-on-one experience and engineering can efficaciously assist with this.

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Legal and Regulatory Forces:

Jenny’s Closet Party is a limited liability company. A legal limited liability company is a hybrid-type of legal construction that provides the limited liability characteristics of a corporation and the revenue enhancement efficiencies and operational flexibleness of a partnership ( little concern association 2014 ) . Although. LLC’s have similar features as corporation and partnership. the authorities does non keep them accountable to the same criterions. construction and revenue enhancement Torahs. To get down an LLC one should research and make up one’s mind what type of concern they would wish to form. Specific paperss to set up a concern should be filed with the Secretary of State to get down a concern ( processs may change from province to province ) .

Information submitted should include: Business name. registering. making understandings and articles of incorporation. Once the company has been incorporated you will required to procure licensures. licenses. EIN figure. revenue enhancement position and other required paperwork. Once all the necessary paperwork is complete and the concern is established. the following stairss should include obtaining insurance and making the necessary footwork to acquire the concern up and running such as networking. making the trade names image. and procuring the necessary fundss.

Political Forces:

The political forces that have a direct consequence on Jenny’s Closet LLC and other concern are the stableness or instability of the authorities. economic/trade policies. revenue enhancement rates and different events that happen in our communities and throughout the state. These factors can impact how consumer disbursement. Consumers are more incline to shop at shops like Jenny’s Closet and resale mercantile establishment shops. The resale. cargo and thrift shop industries has boomed in the wake of recession in the 1990’s. For this included an increased demand for families to sell fresh points for hard currency and decreased measures of disposable income that made it necessary for people to shop at cheaper mercantile establishments ( NARTS. 2014 ) .

Social Cultural Forces:

As society and civilizations change. so should your concern. In order to hold a successful concern. one must acknowledge and set ( harmonizing to the current times ) in order to win. Some socio-economical kineticss that concerns must accommodate to as the universe evolves: demographics. marketing/advertisement. tendencies ( remaining on top of consumer penchants ) and external factors that may necessitate accommodations within the company.