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

Business Plan - Coursework ExampleThe US mart sh ar is captured by major players such(prenominal) as Nike, Addidas, Reebok, Fila, Timberland, Asics and Converse and others. Among them, Nike might be considered as the main competitor of 21st Wear as the gild also targets the young customers. However, the products of Nike are quite noble priced due to its premium brand im shape up as compared to others. This can be treated as an advantage for 21st Wear to enter the market of US. The company can follow penetration pricing strategy by offering the products at lower prices as compared to the main competitors in order to penetrate the market successfully. This can enable 21st Wear to enhance its awareness as well as brand equity among the customers. As 21st Wear in the main centers on the puerile sportswear, it should introduce new trendy designs at a low price and promote through internet considering the fact that majority of the teenage customers are consistent online buyers (Magazin e Publishers of America, 2004). Furthermore, as 21st Wear is targeting a particular segment, it should include a strong distribution channel and an effective product side strategy by focusing on product features such as quality, color and style to establish its brand name in the growing private-enterprise(a) environment of the industry. The company 21st Wear should introduce numerous stores at renowned places of US along with proper availability of its products and it should follow direct sell of the products to the customers. Moreover, 21 st Wear should use market penetration strategy in order to enter the market of US as it is laid-backly competitive. Thus, these strategies can see 21st wear to contraryiate 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 customers. The compan y renders products in different colors 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 available 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 fact 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 plan effective strategies such as proper distribution, promotion, pricing and proper discounts i n order to sustain it in the increasingly competitive market. With this concern, 21st Wear intends to provide a wide-eyed range of sportswear selection to its targeted consumers at a cheaper price as compared to other competitors in order to penetrate the US sportswear apparel. Core honorable Principles of Business The ethical principles on which the business of 21st Wear will operate are trust, teamwork, honesty and mutual respect amid the team members. The core somatic ethics will strictly