BUS 475 Week 2 Individual Assignment: Strategic Plan, Part 1: Conceptualizing a Business

What to Wear Today

Strategic Plan Part 1.

 

What to Wear Today is an online service which offers fashion advice to men who have trouble finding the right style and appropriate clothing. Most of the site’s content is free allowing men to view tools such as color matching charts and trend lists. The site will also contain articles on new trends and advice for how clothes should look when they are fitted properly.  Along with the free content there will also be feedback systems such as comments sections for articles where users and clients can leave messages and ask questions directly. In this way clients and users can find information that others have asked in the past.

For individuals needing personalized attention, the business would offer a custom style guide. This guide would be a comprehensive PDF file which would discuss which types of clothing would be most stylish based upon the individual’s body type and features. The person would be required to send a full body photo and a headshot in order to make the guide. The cost would be $50 for the guide and would give the person all the necessary information such as particular brands of clothing and how he should wear the clothing with accessories such as watches and scarves. The reason the cost would be so low is that the PDF would be a template with large amounts of fill in the blank forms. For example there would be a box to past the person’s pictures into. There would also be blank sections such as brands that fit best for this person. This would make customization of the guide simple and quick. Through this method clients would be able to receive the same advice that a professional stylist would give but at a fraction of the cost.

Another area of the business which would also make it profitable is the linking of site content with affiliate marketing programs. Amazon has an affiliate marketing program that allows What to Wear Today to earn money whenever a person clicks through to the Amazon site and makes a purchase. This is a unique adjunct to the business which may prove to be very profitable. Since What to Wear Today is giving the client and users fashion advice on what brands to wear then it would be prudent to tell them wear to purchase the items for the best price. This creates a sustainable business model which is not dependent upon constant sales from style guides since users just looking on the site also have the potential to create profit.   Another benefit of affiliate marketing is that there are many different companies such as Ebay and Oodle which can be used to link to products. This allows What to Wear Today the ability to find the best deals for its clients and not be limited to one particular company such as Amazon.

From the intended purpose, planned structure, and intended processes of What to Wear Today, the company focuses its mission into the following statement,

It is the mission of What to Wear Today to aid men’s fashion needs and to give them the tools necessary to dress for success in all their endeavors.

The mission clearly drives the company vision in which the organization sees a future in which it is a one-stop fashion advice center for men. The organization envisions itself as a tool for men to seek advice and learn fashion sense in a practical and comfortable atmosphere. To this end, the organization resolves to take an honest and ethical approach to managing and dealing with clients. It is important that the clients trust in the organizations advice because they need to feel comfortable in changing their styles and wearing their new look in public.

From this honest approach What to Wear Today drives its competitive advantage in a market filled with competitors. There are literally thousands of stylists whom seek to find a niche in the market by targeting rich people who can afford to have a stylist. This approach overlooks millions of potential clients due to the extreme cost of hiring these professional stylists. The bulk of men needing help with their style and dress are just average individuals with average jobs. What to Wear Today believes that most of these potential clients just need some basic advice that will allow them to increase and better their fashion sense. It is through this belief that What to Wear Today believes that it can achieve a new and unique product differentiation as well as an extreme competitive advantage (Collins, 2001).

By maintaining the one on one approach through electronic communications, the clients can remain as anonymous as they wish. For many men, this allows them to discuss their fashion issues without feeling embarrassed. This is also where a strict adherence to honesty is a must for the organization in that these clients must have faith in what the organization is telling them. The honest approach also creates a positive workplace culture that is flexible enough to meet the ever changing needs of the client (Kerns, 2003).  This is very important to the company’s success as fashion and trends are constantly evolving and therefore the needs of the clients are also evolving.

Other fashion stylists would desire to have their clients meet in person and would cost tremendous amounts of money. This method ostracizes many potential clients due to the personal nature of fashion as well as the financial restrictions. The What to Wear Today approach allows men the access to large amounts of general fashion advice for free and low cost personal styling which can be designed quickly and efficiently.  As well these clients can learn about their style needs in the comfort of their home and maintain their privacy. It is the nature of the What to Wear Today service that men will be comfortable to discuss their fashion needs and not feel embarrassed or awkward. Through this unique form of style advice and planning What to Wear Today hopes to build a large and loyal market base that helps men for years and years.

References

KERNS, C.D.  (2003) Creating and Sustaining an Ethical Workplace CultureGraziadio Business Review Volume 6 Issue 3

Collins, J. Good to Great: Why Some Companies Make the Leap…and Others Don’t         (New York: Free Press, 2001).

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