Business Plan Coursework Example | Topics and Well Written Essays - 750 words

Business Plan - Coursework good exampleThe US market sh be is captured by major players such as Nike, Addidas, Reebok, Fila, Timberland, Asics and Converse and others. Among them, Nike might be considered as the main competitor of twenty-first Wear as the company also targets the young customers. However, the products of Nike are quite high priced due to its premium brand image as compared to others. This can be treat as an advantage for twenty-first Wear to enter the market of US. The company can follow incursion pricing strategy by offering the products at lower prices as compared to the main competitors in ensnare to penetrate the market successfully. This can enable 21st Wear to enhance its awareness as easy as brand equity among the customers. As 21st Wear mainly centers on the teenage activewear, it should put in new trendy designs at a low price and promote through internet considering the feature that majority of the teenage customers are consistent on take up buyers (Magazine Publishers of America, 2004). Furthermore, as 21st Wear is targeting a particular segment, it should overwhelm a strong distribution channel and an effective product positioning strategy by focalisation on product features such as quality, color and style to establish its brand name in the growing competitive environment of the industry. The company 21st Wear should introduce numerous stores at noteworthy places of US along with proper availability of its products and it should follow direct selling of the products to the customers. Moreover, 21 st Wear should uptake market penetration strategy in order to enter the market of US as it is extremely competitive. Thus, these strategies can assist 21st wear to differentiate its products among others in the market (Kotler, 1999). Company Description 21st Wear is a US based sportswear company. It intends to offer high quality sportswear products at a reasonable price, especially focusing on the requirements of the teenage c ustomers. The company renders products in different change and trendy styles which are designed by using good quality of fabric and latest techniques. 21st Wear sport products are mainly targeted to the teenage customers under the age group of 13-18. The product line of the company includes varied types of products such as T-shirts for boys and girls, jerseys, sports shoes, shorts, sports sweaters, pants, skirts, athletic shirts, hoodies, track suits and gloves. Notably, the products offered by the company are easy in different fashionable designs and colors to attract the targeted customers. The company uses internet facilities to promote its innovative designs and styles to its customers, considering the point that teenage customers are a major group of online shoppers in the US market. 21st Wear is comparatively a new market player in the sportswear market segment, and therefore, the company needs to jut out effective strategies such as proper distribution, promotion, pricing and proper discounts in order to sustain it in the increasingly competitive market. With this concern, 21st Wear intends to provide a wide range of sportswear alternative to its targeted consumers at a cheaper price as compared to other competitors in order to penetrate the US sportswear apparel. Core Ethical Principles of Business The ethical principles on which the business of 21st Wear will engage are trust, teamwork, honesty and mutual respect amid the team members. The core corporate ethics will rigorously