Marketing Management Essay

Executive SummaryWhat if I told you that you chamberpot appropriate stylish habit and accessories and the only catch was that you have to clean kayoed your water closet? If you said yes, then jenny asss pressing companionship is the dynamic answer for you. jennets Closet party LLC is knowing with you in mind, by creating the ultimate Girls Night Out experience, combining fashion, food, and pastime while mingling amongst friends. Uniquely swapping from one fashionistas closet to some other and the remaining items ar donated to a local anesthetic charity. Sounds the perfect win-win scenario right? Jennys Closet ships company, A slap-up excuse to clean pop your closet. First Step Upon receipt of an invitation or retrieval of flyer, particularised details pass on be high get offed as to a theme, what items are cosmos requested, deadline for dropping of your items and also what you should expect the day of the event. Go through your closet and find articles of clothing or accessories that you would like to swap. The items must be in style, of good quality and condition. Some of the categories (depending on theme) may take clothing, shoes, earrings, scarfs, jackets etcetera Second Step Bring the items to the Donation Center at the hall porter County Expo Center two weeks prior to events (Fridays) from 900 am 500 pm.At this time you will be given a verifier at this time in which you will deliver for tokens to shop with the day of the event. Third Step The day of the event doors will open an hr and thirty minutes prior to shopping. At this time while mingling, you can enjoy complimentary wine and h setves that will be accompanied with light music to enhance your fun filled evening. Also, vouches can be redeemed for tokens during this time. Fourth Step Prior to the scheduled shopping time, guest will be reminded of howall this works, rehashing the guidelines that were laid out on the initial invitation/flyer. Guests are encouraged to bottomup w hat they have donated anonymous while picking.However, displaying and sharing their great finds amongst eitherone creates sure excitement. Once the shopping time has been launched, participants will be equal to(p) to go in rounds and selected two items at a time (to keep it fair) to purchase with tokens. Final Step When the event is over and guests have at peace(p) home, the remaining items will be rounded up donated to a local womens shelter. Sales ForecastDuring the first two days of line, Jennys Closet Party anticipates generating $300,000 from endorsements and corporate sponsorships. Each member of this social club is responsible for the minimum of two sponsorships ($500) in order to reach our strategical goals. We expect to generate the most sales during the summer months.Environmental synopsisJennys Closet Party LLC is a small play along whose headquarters is located at 2143 Freedom Street Portage, Indiana however, events will be hosted at the Porter County Expo Cente r located at 217 E. Division Road Valparaiso, Indiana. The ships company consists of eight employees 5 full-time and 3 part-time employees. Jennifer Smith (CEO) will provide the executive leadership and get by operations of every entity of the company. She will also be instrumental in developing strategies, vision and key performance indicators, to ensure goals are macrocosm met. She will be the face of the organization and will concentrate with build rapport and relationship with businesses. Taquanna White (Business Manager) will work closely with the CEO, exert the day-to-day business operations. Serve as our technical expert with discerning knowledge in finance and computers. Serves as back up in absence of the CEO a, ensures tasks are being carried out, mentors and manage provide.Bonita Sims is the (Bookkeeper). Her responsibilities include memory track of financial transactions, audits, payroll, procurement and inventory. Georgia Manuel (Head of Marketing) is our fashio n expert. She will be in the community, charge of sales and marketingand maintaining our Social Media/Blogging keep the company abreast of the latest trends and fashion news. Dionne Payne (Administrative Worker/Hostess) serves as supportive staff doing project coordination, prepare reports, meeting arrangements, manage calendars, answer phones calls and serve as a hostess at the events. Our three part-time employees will care with preparations leading up to the event as well as working on the day of the event.Competitive ForcesJennys Closet Party has been facing challenges over the last few years with consumers shopping in the thrift and resale arenas. The once known dismal second-hands stores offering outdated clothing have become the ultimate treasure hunt for unique finds at a great price. Much of the recent growth can be attributed to young shoppers, many of whom are passing on trips to the mall in favor of thrift stores (Tully, 2012). Resale stores offer a variety of unique f inds at a fraction of the cost of retail stores and propose great luck to new buy the farmup companies like Jennys Closet Party. The seemliness industry is a well-known non-profit organization that has been around for over cytosine years. There huge targeted audience loves bargain shopping who are bony by shopping incentives and those by who donate to their cause of giving back to the community. We provide employment, job training and other community-based programs for people looking to put across their careers, build their skills and further their education (Goodwill Industry International, 2014).Economic ForcesWith a fluctuated parsimony and staggering unemployment rates many consumers have become more(prenominal) economical with how they spend their money. Although the retail industry has experienced growth, the resale industry is blossoming and is devising great head way to become the new trend for pet shopping. While many businesses close their doors every day, resale remains healthy and continues to be one of the fastest growing segments of retail (NARTS, 2014). Consumers are seeking pearly ways to save money and the affordability of shopping at malls with high markup priced set is not an option. With millions of people looking for ways to save money in tough economic times, a growing number of consumers have sullen to resale shops to find their clothes, furniture and household goods (Tully, 2012).Thenor-west Indiana Regions Gross Revenue Product (GRP) over the past 3 years (2009-2011) has gradually increased by 3%. Porter Countys community is 166,557 (2008-2012) with the median household income was $62,457 compared to the states average of $48,374, of this population 50.95% are women (U.S. Census Bureau, 2014). over the course of the year, household purchases rose by 0.5 (U.S. Department of Commerce, 2014). This shows that women in the Northwest Indiana Region have buying power which has influentially contributed to the divisions economi c growth.Technology ForcesTechnology is rapidly evolving and is unprecedented in the business industry. Technology is vital and plays a major role in the success or demise of a company ultimately impacting processes, pricing, promotions and locating of products and services. Technology force is used just about in every capacity of a business operation, from finances, book keeping and capital registers deck to marketing. Social Media mediums such as Pinterest, YouTube and Facebook are some of the most touristy ways in which technology has to connect with consumers. Retailers with Wi-Fi allows customers to use their Smart Phones to seek products, compare prices, and download coupons with apps to make purchases. Due to the rapidly growing argument of on-line shopping, in-store retailers and swapping businesses must set themselves apart by meeting the customers call for and provide them with the ultimate one-on-one experience and technology can in effect help with this.Legal and Regulatory ForcesJennys Closet Party is a limited liability company. A legal limited liability company is a hybrid-type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership (small business association 2014). Although, LLCs have similar characteristics as corporation and partnership, the political science does not hold them accountable to the same standards, structure and tax laws. To bulge an LLC one should research and decide what type of business they would like to organize. proper(postnominal) documents to establish a business should be filed with the Secretary of State to start a business (procedures may vary from state to state).Information submitted should include Business name, registering, creating agreements and articlesof incorporation. Once the company has been incorporated you will hired to steady-going licensures, permits, EIN number, tax status and other required pape rwork. Once all the undeniable paperwork is complete and the business is established, the next steps should include obtaining insurance and doing the necessity footwork to get the business up and running such as networking, creating the brands image, and securing the requisite finances.Political ForcesThe political forces that have a direct effect on Jennys Closet LLC and other business are the perceptual constancy or instability of the government, economic/trade policies, tax rates and distinct events that happen in our communities and throughout the nation. These factors can affect how consumer spending. Consumers are more incline to shop at stores like Jennys Closet and resale outlet stores. The resale, consignment and thrift store industries has boomed in the aftermath of ecological niche in the 1990s. For this included an increased need for households to sell unused items for cash and reduced quantities of disposable income that made it necessary for people to shop at che aper outlets (NARTS, 2014).Social Cultural ForcesAs society and cultures change, so should your business. In order to have a successful business, one must recognizes and adjust (according to the reliable times) in order to succeed. Some socio-economical dynamics that businesses must adapt to as the world evolves demographics, marketing/advertisement, trends (staying on top of consumer preferences) and external factors that may require adjustments within the company.