233x Filetype PPTX File size 0.27 MB Source: www.msubillings.edu
Mission and Vision Mission: Is to provide babies with high-quality organic onesies containing attractive, fun designs. Vision: Is to create a fun and profitable side business creating and selling these onesies individually online and in bulk through retailers. Strengths • Products are organic and 100% chemical free cotton - organic cotton is a much stronger, yet softer fabric that lasts much longer than conventional clothing. • Products are unique – They include printing that commemorates the babies’ state/city origin, and are customizable • High emphasis on quality of products offered • Strong ethical principles Weaknesses • Small business – Does not have its own stores for shoppers to visit • Lack of inventory options – Not many types of onesies or tees for customers to choose from when ordering • Lack of business knowledge • Lack of marketing/promotional strategies • Lack of personal website – Only uses Etsy to sell products • Location of business is in the Virgin Islands – Very small population of about 5,000 people Opportunities • Fast growing demand for baby products • Mother’s and father’s high demand for organic, chemical free baby products • Growing opportunities in internet shopping – websites such as Etsy and Facebook allow for easier selling, and using Facebook and Pinterest to attract customers is an easy and effective way to gain exposure. • GIA announced the Children’s Wear Market is projected to reach US$156.8 billion by the year of 2015 • Etsy has 15 million buyers Threats • Difficult to differentiate product amongst others- on Etsy, a search for “onesie” results in over 71,000 items • Literally millions of competitors • Difficult to break-into the market to retailers, and her location in the Virgin Islands makes it difficult to travel to shows or markets where retailers shop for products • Not a business that encourages a lot of repeat customers- the market is people who are having babies or who are buying gifts for someone that is expecting.
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