Five-Year Marketing Plan KAI-BOLO Fashions Pvt Ltd.
Business Overview
Business name: KAI-BOLO Fashions Pvt Ltd.
Business structure: Private Limited, with 4 partners.
Business location:
KAIBO Business Building, Tongpu Rd, Shanghai, China.
Date established: 13-February-2014
Business owner(s):
Privately held Limited company, with ownership 28%-Guo Fulin, 22%-San Yanglin, 20%-Cherry Liqin, 30%-Jing Zhang.
Owner/s experience:
Guo Fulin- Managing Director, 20 years retail experience in food industry.
San Yanglin– Chief Finance Officer, a Chartered Accountant, MBA degree, 10years experience running family clothing business.
Cherry Liqin–Operations Manager, a Fashion Designer, 16years sportswear design experience, holds a BA degree.
Jing Zhang, Marketing & Customer Innovation Executive, holds Business Administration degree, experienced business development manager.
Mission statement:
KAI-BOLO’s mission is to offer the best and most exclusive men’s clothing wear in a variety of styles and suitable sizes, and carrying stocks that embraces the day-to-day requirements of humankind at large, at discounted prices, while offering an elevating experience and higher perceived value.
Products or Services:
KAI-BOLO Fashions provides several brand options which fall within their mission statement. The merchandise offer is inclusive of 3 core product categories: Men’s-wear; Work-wear, Youths-wear.
Market Overview
Target market: Middle income earning males and youth within the age group from 18 to 45 years old, who need casual to active wear, from core basic clothing requirements to more fashionable apparels; that means those consumers who expect quality but minus the price tag.
Market & industry analysis:
According to Forrester Research (2014) the US Online Retail Sales reached $262B in 2013 and is expected to grow to $370B by 2017, while in Europe the online retail sales exceeded €128B over the 2013 (Mulpuru & Gill 2014). The overall rate of retail web penetrations in the US was 11%, while the Southern Europe countries are forecast to experience the fastest online retail growth rates. The Australian Bureau of Statistics Online Retail Trade figures show the trend estimate for Clothing industry retail went down 0.1% during April 2014, although the seasonally adjusted estimates increased for Clothing retailing (0.3%). According to a recent research by PwC and Frost & Sullivan, due to the continuous rapid growth in offshore e-marketing, over the next year almost 90% of online Australian retail shoppers are expected to continue or increase spending online, with a CAGR of 13.1% over the next 5 years (Mulpuru & Gill 2014)
Key statistics
Figure-1: Australian e-Market analysis (Source: PwC and Frost & Sullivan 2014)
Figure-2: US Census Bureau News: Quarterly Retail E-Commerce sales estimate (2014)
Customer profile:
Target market is focused on tech-savvy career-orientated men and youth aged from 18 to 45 years, who are middle income earners with salary range from US$40K to US$85K, although in some target countries the salary ranges might be lower due to average differences of money per capita (Mabry 2012). The KAI-BOLO brand is targeted at individuals with a desire to look smart, trailblazing & stylish at reasonably affordable price.
Competitor profile:
Menswear apparel market has many entries. L.L. Bean, Cabello’s, Patagonia are well known U.S.A. firms offering similar products. The general outlook for the industry is positive for various reasons.
First, more consumers are participating e-commerce due to increased worldwide penetration of broadband internet access.
Second, consumers are seeking for reasonably affordable pricing.
Third, growing consumer confidence in e-commerce edging prepared and capable of spending more online.
While most of the organisations listed before appear like competition, they don’t similar trendy, smart, trailblazing & stylish menswear at reasonably affordable prices. Furthermore these competitors
