Sample Business Paper on Farewell Apparel Inc.

Executive Summary

      Farewell Apparel Inc. is a company that intends to sell high-end fashionable clothing to women in the United States.  The mission of the company is to enhance women’s style by creating, producing, and distributing high-end apparels. On the other hand, the firm’s vision is to become a global brand that inspires women’s styles and choices through apparel products. The business values include integrity, originality, and courage. Additionally, the firm strives to embrace technology in the fashion industry to thrive in the competitive market. It targets working-class women and seek to provide a unique experience to its customers. As a result of the negative cost implications of operating in the United States, the manufacturing will be based in India and upon manufacturing, the products shall be transported to the U.S.

Product Category

Farewell Apparel Inc. plans to venture into the production of high-end women’s apparel. The company will specialize in the design and manufacture of trousers and leggings, dresses, skirts, denim, underwear, socks, blazers, T-shirt, sweatshirts, jackets, and coats. Consequently, the business will adapt better as a pricing point category, hence Farewell Apparel Inc. will be selling high priced merchandise to the targeted customers. The pricing category shall enable the firm to achieve its vision of attaining a global brand while inspiring women through fashion. Besides, the corporation will offer all sizes to ensure that it does not lock out any segment of the market. All the mentioned features should work together to ensure that the products perform well in the market.

Farewell Apparel Inc. Technologies

            Farewell Apparel Inc. will utilize two leading technologies in its product development. First, the Computer-Aided Design software application will be vital in enhancing accurate drawing and analyzing the suitability of the products produced by the firm. Secondly, the Artificial Neural Network be used to match the different designs with specific consumer preferences. In this regard, the firm will gain an added advantage over most firms in the industry who have not adopted recent technologies in the production process. Nevertheless, the corporation recognizes that technology is bound to change due to the fast rate of innovation thus it the firm aspires to place itself in a position to cope with such changes and bear the burden of cost implications associated with the difference in the future.

Role of Logistics

Logistics enhances appropriate management and controls the flow of production processes. The internal and external departments involved in the manufacturing process are procurement, production, distribution, marketing and sales, and disposal.  Planning and management of the relevant supplies is realized in the procurement department, while quality control and effective management of processes in production is achieved in the production department.  The marketing department is in charge of advertisement and sales. Finally, the disposal department minimizes the logical costs incurred by the firm.

Logistical Management

Primarily, the firm’s procurement and production sections will be located in India instead of the United States with the sole purpose of lowering costs. Essentially, the company will use technology in the supply chain and logistics to mitigate risks. The RFID systems will be used to control the distribution of products to customers and avail their feedback for the company to make the right judgments and take the appropriate actions. Consequently, the RFID system is useful in ensuring a timely flow of logistical information (Wen & Chang, 2010).

Target Customer

Since the company plans to sell high-end women’s apparel, most of the customers will be working-class women who have a taste for fashion. These customers will mostly be 25 to 30 years old (Choi, 2016). The apparel shop’s outlets will be established in to major cities in the U.S. that have the highest level of income and standards of living. Hence, cities such as Atherton, Cherry Hills Village, Scarsdale, and Hillsborough will prioritize. Each of the cities has an average household income of more than $350,000 and the potential customers in these set-ups are known to live an extravagant life and have unique preferences when it comes to clothes. As such, they are likely to generate a lot of income for the business upon its establishment.

Customer Awareness

Most of the targeted customers have access to the internet; hence, the company will engage in massive online campaigns to attract potential customers (Vermaat et al., 2013). Although social sites different categories of customers, if 50% of potential customers in the U.S. are aware of Farewell Apparel Inc., the firm would have made a significant step towards converts the leads into sales. The firm shall invest in cookie-based ads to synchronize the market and engage with relevant customers only. The biggest competitor in the market segment is the American Eagle, which specializes in high-end female cloths. However, the firm has not invested in customer relations management; hence, Farewell Apparel Inc. is likely to have the upper hand compared to American Eagle.

Social Media Engagement

A significant percentage of Americans are on Facebook, hence this platform is the most appropriate for marketing the company’s product. 69 percent of the facebook followers are adults in the United States, who have purchasing power, thus the corporation will be able to reach these individuals via the site. Additionally, using the platform is cheap because of its affordable advertising cost (Dennelly, 2019). As such, the corporation will take advantage of the platform to advertise itself and products. The firm shall utilize Celebrity Social Proof, which is ideal for most Americans who like to associate themselves with celebrities.

Strategic Communication

The company’s global narrative shall be based on the company’s vision and value, which stands for enhancing style while promoting originality, integrity, and courage. Hence, the firm’s message shall center on the vision and values that the firm embraces. Such an approach usually portrays a corporation positively in the eyes of the interested customers (Kesgin & Murthy, 2019). Furthermore, the company shall make use of local events, such as music festivals by, involving celebrities who shall have a tag of the company’s products. For instance, the firm will give out fashion apparel to a celebrity at any significant event.

            Farewell Apparel Inc. will fit in the targeted market as will adopt the latest technologies in the production process and maintain a stable connection with customers through an appropriate customer relation. The use of technology such as CAD and ANN places the company at a competing position in the U.S market. However, technology changes rapidly, thus the firm would have to prepare to adjust accordingly in case of changes in innovation in the fashion industry in the future. Essentially, change in technology would mean that the business would incur some costs in adopting and implementing efficient and effective technological advances that may arise.

References

Choi, T. M. J. (Ed.). (2016). Information systems for the fashion and apparel industry. Cambridge, UK: Woodhead Publishing.