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ABC Business Plan (Luxury Goods)
Subject area: Management and Commerce · Area of research: Business Management
Abstract
ABC LTD is a fictitious name used for the sole purpose of this academic business plan report. ABC is a brand that will specialise in the design, creation and selling of high quality, bespoke and innovative leather products. Nigeria is the chosen location due to the current economic reform following the restoration of democratic rule thereby encouraging foreign direct investments mostly by Nigerians in diaspora. The global recession is another factor that has encouraged a lot of Nigerians and foreigners in diaspora to seek employment and business venture opportunities in Nigeria The Nigerian Guardian News (2010) Jonathan Pledges Co-operation (online), Available: http://ngrguardiannews.com/index. This has created an appetite for these ?western world? developed Nigerians to have the same quality products they normally consume in the western countries as well as for the home-based Nigerians having products customised with a hint of the ?African Print?. There is significant growth in private led organisations which has created employment leading to disposable income. Based on Levitt?s market globalisation concept that global markets are based on the premise that the homogenising effect of mass communication has eliminated many regional differences resulting in a converging commonality of the world?s needs and desires. This concept is enhanced with the non-traditional consumers of ABC?s products; whom are used to shopping in, London, Paris, the US and other western countries. Harvard Business Review, May-June 1983) ABC LTD is an upmarket bespoke and genuine leather products provider to Men and Women within the age band 25-45, typically professionals and business people with limited time on their hands for on street shopping. The manufacturers and materials will be sourced from Italy and will work closely with ABC LTD designers to create ABC LTD branded unique designs. ABC LTD will also cater for special occasions or requests by providing bespoke designs and customisation of leather products, hence creating a niche in the leather goods market. ABC LTD's business platform will be based on location synergies provided by leasing premium shopping centre spaces in major Retail Businesses, these business platforms will be minimal to setup and dynamic enough to relocate. ABC LTD's shopping mall presence will be bolstered by its interactive website which will automate order processing, stock level control and CRM into one single supported portal. The website will also leverage against the sales and marketing efforts and tools being deployed. The key focus for ABC LTD in the first 5 years is to increase product range visibility / awareness and to highlight the Unique Selling Point of the products via the online and shopping centre marketing campaigns.
References
[1] The Nigerian Guardian News (2010) Jonathan Pledges Co-operation (online), Available: http://ngrguardiannews.com/index Accessed: 14 January 2011
[2] (Mckinsey Quarterly, the globalization of markets cited Harvard Business Review, May-June 1983) http://www.vuw.ac.nz
[3] Kotler and Keller (2006), Marketing Management 12e, P. 15 – 16
[4] Franklin S. Houston, The Marketing Concept: What It Is and What It Is Not: The Journal of Marketing Vol. 50, No. 2 (Apr., 1986), pp. 81-87
[5] Clothing, Footwear, Sportswear and Accessories Retailers in Nigeria, (2010). (Online)Available: http://www.datamonitor.com/store Accessed: 14 January 2011
[6] http://www.tradingeconomics.com,(Online)Available, Accessed: 14 January 2011
[7] Martin Moser, A framework for analyzing Corporate Social Responsibility, Journal of Business Ethics Volume 5, 1986, pp. 69-72,
[8] Kotler and Lee (2004) Stanford Social Innovation Review, http://www.ssireview.org, (Online)Available, Accessed: 14 January 2011
[9] Kotler and Keller (2006), Marketing Management 12e, p. 372 - 373
[10] Kotler and Keller (2006), Marketing Management 12e, p. 56
[11] Kotler and Keller (2006), Marketing Management 12e, pp. 278 - 279
[12] http://news.bbc.co.uk/1/hi/world/africa/1021948.stm Available: (Online) Accessed 14 Jan 2011
[13] Theodore Levitt, The Globalization of Markets, Harvard Business Review, May/June 1983, p. 92-102
[14] http://www.tradingeconomics.com/nigeria,,(Online)Available, Accessed: 14 January 2011
[15] http://www.bbc.co.uk/schools/gcsebitesize/business/marketing/brandingandpackagingrev2.shtml, (Online)Available, Accessed: 14 January 2011
[16] Hayes, R. H. and S. C. Wheelwright. 1979. The dynamics of process-product life cycles. Harvard Business Review (March-April): 127-136.
[17] Kotler and Keller (2006), Marketing Management 12e, p. 18
[18] http://www.nationsencyclopedia.com/economies,,(Online)Available, Accessed: 14 January 2011
[19] http://www.tradeinvestnigeria.com,,(Online)Available, Accessed: 14 January 2011
[20] Kent Business School, Marketing Lecture (2009), Lecture 5: STP , Slide 4
[21] http://www.mckinseyquarterly.com,,(Online)Available, Accessed: 14 January 2011
[22] http://www.tradeinvestnigeria.com/feature_articles/911249.htm,,(Online)Available, Accessed: 14 January 2011
[23] The ages of computerisation, O’Connor et al (2004) Electronic Marketing. FT Prentice Hall.
[24] Kotler and Keller (2006), Marketing Management 12e, pp. 52 - 54
How to cite this paper
@article{1706241,
author = {Agnes Bamidele},
title = {ABC Business Plan (Luxury Goods)},
journal = {Iconic Research And Engineering Journals},
year = {2024},
volume = {8},
number = {3},
pages = {283-311},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1706241.pdf},
abstract = {ABC LTD is a fictitious name used for the sole purpose of this academic business plan report. ABC is a brand that will specialise in the design, creation and selling of high quality, bespoke and innovative leather products. Nigeria is the chosen location due to the current economic reform following the restoration of democratic rule thereby encouraging foreign direct investments mostly by Nigerians in diaspora. The global recession is another factor that has encouraged a lot of Nigerians and foreigners in diaspora to seek employment and business venture opportunities in Nigeria The Nigerian Guardian News (2010) Jonathan Pledges Co-operation (online), Available: http://ngrguardiannews.com/index. This has created an appetite for these ?western world? developed Nigerians to have the same quality products they normally consume in the western countries as well as for the home-based Nigerians having products customised with a hint of the ?African Print?. There is significant growth in private led organisations which has created employment leading to disposable income. Based on Levitt?s market globalisation concept that global markets are based on the premise that the homogenising effect of mass communication has eliminated many regional differences resulting in a converging commonality of the world?s needs and desires. This concept is enhanced with the non-traditional consumers of ABC?s products; whom are used to shopping in, London, Paris, the US and other western countries. Harvard Business Review, May-June 1983) ABC LTD is an upmarket bespoke and genuine leather products provider to Men and Women within the age band 25-45, typically professionals and business people with limited time on their hands for on street shopping. The manufacturers and materials will be sourced from Italy and will work closely with ABC LTD designers to create ABC LTD branded unique designs. ABC LTD will also cater for special occasions or requests by providing bespoke designs and customisation of leather products, hence creating a niche in the leather goods market. ABC LTD's business platform will be based on location synergies provided by leasing premium shopping centre spaces in major Retail Businesses, these business platforms will be minimal to setup and dynamic enough to relocate. ABC LTD's shopping mall presence will be bolstered by its interactive website which will automate order processing, stock level control and CRM into one single supported portal. The website will also leverage against the sales and marketing efforts and tools being deployed. The key focus for ABC LTD in the first 5 years is to increase product range visibility / awareness and to highlight the Unique Selling Point of the products via the online and shopping centre marketing campaigns.},
month = {September},
}