due in 10 hours

please see attachments 

PLEASE FOLLOW THESE INSTRUCTIONS

Ask me about the company and location.

MLA FORMAT. CITE ALL WORKS IN TEXT AS WELL.

There are four sections in this week’s final project:

· Section A: Market Analysis

· Section B: Target Market Profile

· Section C: Mission Statement

· Section D: Goals and Objectives

You are required to answer all the sections of the assignment.

Section A: Market Analysis

Task

Identifying the right location for your business is the key to the success of any fashion-related business.

The marketplace that you choose to conduct business in must be thoroughly investigated to ensure that it is the right place for you to conduct business. In thinking about your retailer and the plan that you have for the company, choose a location to target for your analysis. This location should be specific in that it should be a city/town/area that can be easily defined in its demographics and psychographics and your competition.

This market analysis section should address the following:

· Region, state, and city


· Where is the analysis of your company taking place?


· Why is this particular location selected (are sales down, is the population shifting, etc.)?


· How accessible is this location to the customers? Is it located at the right place?


· Demographics and psychographics


· Review primary and secondary sources of data to list specific demographics and psychographics of the region/state/city/town.


· Justify why these demographics and psychographics make this a good location or a bad location to do business.


· Competition 


· How many competing businesses are around the business location area?


· What products/services do they offer that you do not?


· In turn, what products/services does your company offer that your competitor does not?


· How can your business ideally capture a greater market and make more profit in this location?

Section B: Target Market Profile

From your market analysis, you will derive a specific target market. You will be able to utilize the information gathered on the demographics and psychographics of the market to narrow down your specific consumer. For this section, the following should be addressed:

· Demographics: Utilizing primary/secondary data sources, describe your customer in relation to his/her demographics. These specifics include, but are not limited to, gender, age, education, race, and marital status.


· Psychographics: Utilizing primary/secondary data sources, describe the attitudes, lifestyles, and interests of your target market. This can be described as “what your target market does on the weekend.”


· Explain why you chose to target this specific market. Was it its proximity to the product? Was it its age, or was it its lifestyle?


· Explain what about this target market will ensure that your business in that market will be successful.

Section C: The Mission Statement

A mission statement is also called a “statement of purpose,” and it is a retailer’s commitment to a type of business and to the role they would like to play in the marketplace. A mission statement should reflect the company’s attitude toward its consumers, suppliers, employees, competition, government, and others. A clear mission lets a firm gain a customer following and distinguish itself from its competition.

Review your company’s current mission statement. Do you feel that it encompasses the direction toward which the business is moving? If it does, provide the current mission statement for your final project. If you do not feel that the current mission statement is a true representation of your organization’s goals, compose a new mission statement for your organization and submit the revised mission statement for your final project.

Section D: Goals and Objectives

Completing goals and objectives for a company can be a difficult task. Each company sets goals and objectives for specific tasks. These can include sales goals, marketing goals, employee goals, etc.

Goals and objectives are long and short term performance targets that a firm sets in place. Goals are written in long-term time frames (usually 2–5 year plans), whereas objectives are written in short-term plans (6–12 month plans).

Goals and objectives should be under constant review. They should also be realistic, specific, and measurable. Moreover, they should include numeric measurements tied to specific time frames. Adjustments to goals and objectives should be an ongoing effort.

An example of a long-term goal would be: Nordstrom will increase sales by 20 percent over the next two years. At the end of two years, Nordstrom will be able to measure sales to see if they have met their 20 percent increase goal.

This section requires you to review your company’s current direction, and if possible, its current goals and objectives and answer the following questions:

· Are the goals and objectives realistic?

· Are the goals and objectives specific?

· Are the goals and objectives measurable against a standard?

· Create goals and objectives for the following areas:

· Customer satisfaction

· Sales and marketing

· Detail how each goal and objective will be measured and the time frame for completion of each goal and each objective.