Sidra Saleem L1s08mbam2031 Nadia Mumtaz

L1f08mbam0218 Aamir Masood L1f08mbam2217 Section: J

PRESENTED TO: PROF. A. KHURSHEED

DATE: NOV, 19 2008

TABLE OF CONTENTS

Executive summary Description of summary Market analysis Target Market 8 SWOT ANALYSIS 11 OBJECTIVE Marketing Strategy Marketing Programs Marketing MIX EXECUTION PLAN CONTENGCY PLAN IMPACT OF TOOLS

1 5 6

13 14 15 16 18 19 19

EXECUTIVE SUMMARY

N the past few years, Pakistani market has received a vast exposure in almost every field of life and many new Entrepreneurs are entering into the market. Out of these, which includes national and foreigners entrepreneur has entered in the market, and have made their names and images in the eyes of Pakistanis by providing them with their quality services.

The main concern in this report is to emphasize the Entrepreneurship strategies, as we are about to enter in the professional lives BRIDAL would be needed to have information about the practical implementation of these sort of strategies. We would be analyzing the factors combined to make the Entrepreneurship strategies, and the true blend of these factors effectively. Furthermore, what advantages and competitive edge we can get over our competitors because of the effective implementation of their strategies

INTRODUCTION /PURPOSE OF PLAN

In our subject of Entrepreneurship, we are presenting marketing plan of our main item i-e bridal dresses. Our company aims to become leading trendsetter in innovative bridal fashion in Lahore. All workers in our boutique work as a team and provide best services to privileged customers. Our boutique offers a range of independent designer collections of bridal dresses in Lahore. Bridal Inn is the first leading bridal fashion boutique in Lahore. We have our own bridal dresses to sell. We also give customization facility i-e if customer wants to have some alteration or to change the design, she can easily do so. Bridal Inn stuffs are notable and esteemed for their fine material, fashion oriented and trendiness as compared to fashion products of other bridal boutiques of Lahore. This is because our boutique only promotes those dress designers who produce quality and fine work and prove themselves to be true dress designing artists in bridal fashion. Our boutique will act as a promotional doorway to fashion industry of bridal dresses in Pakistan especially in Lahore as fashion, industry of bridal dresses is flourishing in the country and boutiques are playing their role in this regard. We started our project on 1st November, 2008. Fashion, clothing that is in style at a particular time. The concept of fashion implies a process of style change, because fashions in dress, have taken very different forms at different times in history. Fashion reflects the society of which it is a part. Individual personalities also have had an impact on fashion. About style Dress to impress Basically a person is born with it. You cannot acquire it. It is with in you and style is reflected outwards. Yes, a person can groom oneself and look stylish and trendy but style is really something you are born with.

Where your dreams begins As long as outfit is beautifully tailored, fashion well, uses a good fabric, it is rated high on selling scale-color is no criteria

PURPOSE OF OUR PLAN Bridal dresses Today in this trendy era every one likes to look stylish and for bridals the main attraction is the bridal dress. The purpose of our plan is to co-ordinate our objectives with our budget in order to achieve our goals. For this purpose we have developed a strategy to meet our goals and to earn maximum profit by satisfying customer needs. Bridal Inn is a new brand in the market and needs to penetrate in the market. In order to achieve these objectives Bridal Inn is designing a market plan for its product SITUATIONAL ANALYSIS INDUSTRY ANALYSIS A complete industrial analysis usually includes a review of an industry's recent performance, its current status, and the outlook for the future. Many analyses include a combination of text and statistical data. 1. Our market of bridal dresses captures fashion industry in Pakistan as in last few years boom of bridal dresses in fashion industry flourishes very rapidly. 2. Basically we are capturing bridal market b/c of its never ending and continuously growing trend and demand in Pakistan to have such an outfit for a bridal, which not only makes bride look attractive and charming, rather also represent new and attractive designs different from those already in fashion.

3. To look like a fairy lady in her bridal dress at wedding day is wished by each bride once in life. In order to fulfill that wish and demand is the main attraction of our product I-e bridal dresses. 4. Various environmental factors that affect our market includes growing competition in making of bridal dresses, rise of marriage ceremonies that mostly carried out throughout the year in almost every season and to have unique bridal dresses different from those already in use.

COMPETITORS AND COMPANY ANALYSIS In fashion industry there is large numbers of competitors. Our competitors are in two types 1. Direct competitors 2. Indirect competitors Direct competitors Our direct competitors are different boutiques in twin cities 1. 2. 3. 4. Zari palace Fashion ghar Lag Wanti BG

 Indirect competitors And our indirect competitors are different garments shops 1. Local tailors 2. Others 1. Our bridal dresses features basically include UNIQUNESS, use of good quality fabric, economical prices. Among services, we make dresses on order as is liked by our customers. 3. Add Objectives. 4. Add strategies. 5. Profit ratio 6. Areas of opportunity includes making of fancy clothes in addition to bridal dresses.

CUSTOMER ANALYSIS

PRIMARY TARGET MARKET Our primary target market includes middle class families. Our ultimate clients include ladies who are in search of fabulous wedding dresses for themselves or for some marriage or other greeting ceremony. As every girl wishes to have some unique bridal dress therefore they remain in continuous struggle to have some unique dresses different from those of others for their wedding. Therefore our boutique particularly is the best option place for such ladies. They are provided with every type and variety of dresses to be

selected from those at varying prices and styles. Our boutique basically aims to provide best standard products at feasible prices. This will not only helpful in earning customer loyalty rather will also be helpful in providing long-term value to our potential customers. Our client includes both working ladies, fashionable, trendy women who are very conscious of their appearance. They know how they want to look and our line definitely caters to their demands. Primary data source: Primary data is gathered from various sources such as a. Through personal observation of people/ trends/fashion. b. Through interviews Secondary data source: Secondary data is gathered from various sources such as a. Through questionnaires b. Through fashion magazines c. Through fashion newspapers d. Through fashion websites

SECONDARY TARGET MARKET

In secondary market we will focus boutiques of Gulberg Market. DEMOGRAPHIC Age 19-28 Purchasing power 8000-25000 Disposable income Womens-20000-35000 PHYCHOGRAPHICS Personality Our customer is social. They are trendy and move according to the fashion. Lifestyle Our customer is image conscious. Value system Our customer is more inclined towards modernity. Buying behavior Womens shops for special events like weddings and if they get attracted, they more preferably buy the product without getting conscious.

SURVEY CHART CHAT,

12 10 8 6 4 2 0 CUSTOMER LIKING Zari Palace Mohsin Son's Laj Wanti BG

R S .10 00 0 R S .20 00 0 ABOV E

BUYING POWER

20 15 10 5 0 K UND AN WOR K B EAD WOR K EMBR OID RY BEAD WOR K K UNDAN WORK

14 12 10 8 6 4 2 0 S TUF FDEMA NDED S IL K O RGA NZ A K A TTAN

1 4 1 2 1 0 8 6 4 2 0 S T YL EOFB R ID ALD R E S S S T R AIGH TL AINGA F IS H GH AR AR A

SWOT ANALYSIS

Strength

Low cost The main strength of our product is its low prices. Middle class people because of its economical prices can easily purchase our dresses. Good quality Secondly we believe on good quality product offering highest standards to our ultimate customers. We use best quality fabric, cotton etc in addition to unique designs which not only enhance the beauty of our dresses but also is a source of competitive edge over that of our competitors. Effective customer dealing Customer is the king. In order to market any product one must satisfy his or her customers to its fullest. So customer satisfaction

is the main strength of our bridal dresses. We have skilled and trained employees working in our boutique who are specialized via professional training to deal effectively and efficiently with our customer and hence provide excellent customer dealing. Affordable prices

Our bridal dresses range from 8000 to 25000 depending upon the need and requirement of our customers. Therefore all the dresses are market at affordable prices in addition to maintaining the highest standards. Separate display rooms We also provide separate display rooms in our boutique so that customers can wear their liked dresses according to their choice and liking. In that way they can practice their liked dresses in those rooms and hence satisfy themselves. A separate lady worker is also present in order to provide them fruitful suggestions and recommendations according to customer needs and wants. New designs Our main strength lies in the uniqueness of our outfits. We aim to make different and new designs as compared to those already in use. Future anticipation of fashion helps in making the unique designs of our bridal dresses and hence is liked by majority of our customers.

Weakness Outlet

The main weakness of our boutique is that its outlets are accessible to customers of twin cities only and hence people from far areas found difficulties in having access to our products. Small customer base Our target area belongs to customers of middle class only. Our products are not designed to be meant for elite class as we have a small customer base. No awareness As we step newly in fashion industry therefore our main constraint is that only few people knew about the uniqueness of our bridal dresses and a large portion of people are unaware about our products. Based on above mentioned reasons our sales ratio is also less as it should be expected.

Opportunities Few competitors in bridal wear One of the most emerging opportunities related to our bridal dresses is that the competition among bridal dresses is not very high as only few competitors are investing only in bridal dresses within twin cities. Therefore the opportunity to excel in that market is quite very high. Affordable prices and good quality to target the market Secondly the most important opportunity to excel in market is that we offer our products at very affordable prices as is wished by our customers. Furthermore our main opportunity to increase future sales is that we are offering the best quality dresses within economical range for our utmost clients. Threats Locality

The main threat to our product is that it is only easily accessible to customers of nearby areas. Therefore people from far areas could not experience our products. This could be a future threat to our sales area. Less variety Secondly we are only focusing our attention to bridal dresses only. This could also be a future threat to our products if our competitors switch to other fancy or formal dresses in addition of making bridal outfits also.

OUR OBJECTIVE & GOALS Overall marketing objective Our long term objective is to maintain the quality of dresses. We want to have an identifiable market share in this competitive apparel industry. To make BRIDAL INN a brand name. Designed cloths at low prices, better quality and unique designs would be our competitive edge. We will enhance our promotion strategies in order to recognize our product.

Marketing program objective Our short term objectives are to sell at least 700units of bridal wear per year. To earn at least 40% profit per month. We will bring new innovations, and then do test marketing to ensure that our innovation can succeed or not if we launch such innovation in market.

MARKETING STRATEGY In order to achieve our objectives BRIDAL INN set low prices to attract the customer and satisfy their needs affordably. Our primary market is middle class families to provide them a quality product at lower price with latest designs to match the standard of elite class. Our secondary market is the boutiques of Gulberg Market because we produce quality at lower price which meet their market demand. Our competitors like Laj Wanti n BG etc have targeted upper middle class and middle class with relatively high prices. As designing is a complex thing and needs experience but we give an opportunity to fresher to show their skills and introduce a new and different designs; this is how our product is continuously innovating and unique. Alternative strategy of Bridal Inn is that if our own outlets are not running successfully then we will distribute our dresses to other outlets and across international boundaries.

MARKETING PROGRAMS Our marketing program will be conducted through extensive distribution of flyers/posters and broachers in different; Fashion shows Funfairs Markets of twin city

OUR PRODUCT

Our product is bridal dresses embroidery on clothes and fabrics will be much stronger and more extravagant, yet remain dignified. These dresses will be available in different sizes (small, medium and large). Charming colors give a sparkling look, which tends the customers to buy it. .Our designs are simple, classy, sophisticated and above all very wearable. A combination of cut and embroidery gives style but it should be wearable too. We focus a lot on fashion which is so important.

Product description Bridal dresses with different stuffs like organza, silk etc with different size which are as follows Small Medium Large Benefits of BRIDAL INN Our dresses are more unique as compare to competitors People prefer to buy our bridal wears as our services are general and customized as well. Its looks quite stylish

PRICING TACTICS One of the four major elements of marketing mix is price. Pricing is important strategic issue because it is related to product positioning. Furthermore, pricing effects other marketing mix elements such as product features, channel decisions and promotion.

Learning the exact right price to charge, that matches our market willingness will be the most important price strategy. Pricing strategy also developed by keeping in view the investment required and the maximum return we will get on it.

OUR PRICING STRATEGY Our prices will be reasonably fixed, will no compromise on prices and quality. Bridal Inn is following the price penetration strategy as we are new in the market and there are large numbers of competitors with relatively higher prices. Introductory price Rs. 8000-25000 Cost per unit Rs. 5000-15000 Profit margin 40% OUR PRICING OBJECTIVES Our pricing objectives are as follows Profit maximization Revenue maximization Maximize profit margin Quality leadership

Bridal gives promotional discount as short-term incentive to stimulate the sales SALES/DISTRIBUTION TACTICS Bridal is using both direct and indirect distribution channel through its own outlets and other boutiques. Our competitors have their own outlets.

At the initial stage of business, to capture the potential market, we will offer some packages which will includes matching pouches and sandals in case of taking orders we will take advances and after the finishing the product, will get the whole amount of product. We make sure that valid customer complaints are addressed to immediately, for this we will also give every buyer a complain form.

INTEGREATED MARKETING COMMUNICATION TACTICS Advertising Flyers/ pamphlets and broachers We will sell designed bridal wears by extensive distribution of flyers/ pamphlets and broachers in target market so that people will become aware that specialized bridal dresses are also prevailing in their market. Extensive distribution of flyers/ posters and broachers for creating awareness and our item can be well known. Newspapers/ magazines Effective advertisement campaign is also possible through newspaper and magazines. Magazines include fashion pages which the most attractive portion of all ages of women.

SMS Marketing

SMS text messaging is the most exciting and cost effective direct marketing and advertising method available to business. SMS marketing and SMS advertising can create one-on-one communications with our market. We will advertise our product through SMS marketing, will send SMS to our current customers and new customers just to inform them about our new styles, designs, polices, etc Banners We target our customers through banners because through banners we are informing our customers about our exhibition, new arrival of verity, fashion shows etc

BUDGET

Initial costs Rs. Interiors Electricity, and phone (connections and security deposits) Insurance premiums (property damage, vehicle, theft ) Printing and artwork Wages

25,000 5,000 100,000 10,000 35,000

Promotional cost Loan establishment cost Installation of sewing machines Other expenses Total:

50,000 500,000 20,000 15,000 760,000

IMPLEMENTATION AND CONTROL We are launching our product for new age bridal wears with initial test markets in the Lahore. After analyzing the test markets we will analyze and evaluate the taste of several demographics and target markets. After this we can find out whether we need to modify our strategy before going nationally and internationally. In the 1st month it is focus to advertise our bridal dresses unique design and introduce our name and brand name in the market as a high quality and affordable brand in every new girl becoming a bride who would love to purchase our dresses.

CONTINGENCY PLAN If one of our tools fails then we will adapt some other tool e.g. if flyers and posters fails then we will prefer to advertise our product on radio. IMPACT OF TOOLS

 SMS marketing: we can measure our promotion campaign through calls. We can make changes in our product according to customers need and demands. Newspaper: customer will show discount coupons offered by us in newspapers/magazines. Banners: when we get the huge crowd in our exhibitions and festivals