Business Proposal

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Title: Business Proposal

Objectives

Short term objective

To develop a satisfied custom base by launching a 'try at home' program that will allow customers to try five pairs of sunglasses at home before deciding which sunglasses pair they would like to keep.

To maintain the quality of service.

To advertise more in the local community.

To make the website more user-friendly.

Long term objective

To increase the number of skilled employees

To increase sales revenue by 15 percent in the coming years.

To expand in-store optometry.

To introduce progressive lenses soon.

Product/ services

Providing a ‘try at home’ program to allow the customer to try 5 pairs of sunglasses before deciding which pair they want.

Industry outlook

The optical industry is growing rapidly. Wearing glasses has become an accessory and fashion statement for younger adults. It is expected that due to the 'try at home’ approach sales revenue will increase. This 'try at home' program will increase customer satisfaction. Shipping charges will be kept to a minimum. Glasses will be provided in a stylish case that will be embossed with different designs and logos.

Strategies

Different possibilities of programming will be explored to make the company website user-friendly. Features will be added to the website that will allow us to determine the individual desire of customers. Customers will create their profiles. This will provide us with information such as liked products and their frequent searches and will allow us to communicate effectively with customers. Features will be added to the website that will make the frame selection easy and less stressful. Social media advertising strategies will be adapted to hire highly skilled programmers, web developers, and engineers. A digital marketing strategy will be used to attract customers. A mobile app will be introduced that will provide data regarding styles and fashion trends customers are interested in. Future fashion trends will be anticipated by creating dummy frames for customers reviews. This strategy will help minimizing the design cost as well as collecting demand information. Different features will be introduced on the website that will allow collecting the facial data. This will help to focus on product marketing towards customers depending on their facial features. A digital marketing strategy will help to create a community that will attract fans and convert them into customers.

Our target market will be both female and male between ages 18-40 years. Our customers will be students, working professionals, and sportsperson. The frames will be offered in different types of designs and colors that can meet the need of the customers. To keep the cost of frames and lenses low, company will work directly with the frame suppliers and will manufacture its own lenses. This will help in minimizing the frame and lens cost and will attract more customers. For the promotion of this new program, we will use social media. The Facebook page will be created that will allow anyone to post their reviews. All details regarding products will be shared on Twitter, Pinterest, and Tumblr. We believe in all our customers to look fashionable and stylish without spending much of money ADDIN EN.CITE <EndNote><Cite><Author>Kapferer</Author><Year>2018</Year><RecNum>1260</RecNum><DisplayText>(Kapferer and Valette-Florence)</DisplayText><record><rec-number>1260</rec-number><foreign-keys><key app="EN" db-id="axzrwpxxqvwtw5evsf3xrer2arfwsa5f0e5d" timestamp="1574189792">1260</key></foreign-keys><ref-type name="Journal Article">17</ref-type><contributors><authors><author>Kapferer, Jean-Noël</author><author>Valette-Florence, Pierre</author></authors></contributors><titles><title>The impact of brand penetration and awareness on luxury brand desirability:: A cross country analysis of the relevance of the rarity principle</title><secondary-title>Journal of Business Research</secondary-title></titles><periodical><full-title>Journal of Business Research</full-title></periodical><pages>38-50</pages><volume>83</volume><dates><year>2018</year></dates><isbn>0148-2963</isbn><urls></urls></record></Cite></EndNote>(Kapferer and Valette-Florence)

Operation

The operation procedure of this program will be followed by the already available resources of the company. The website page will be modified by adding some new features to attract customers. The cash handling segment will include accounting software and electronic cash management. This will help in the proper management of revenues and daily sales generated by the business. Staff will be hired that are aware of programming and effective marketing. Managers will be given frequent training and different development programs will be arranged for the employees. This will improve their understanding. regarding maintenance of the brand quality and image among customers.

Bibliography

ADDIN EN.REFLIST Kapferer, Jean-Noël, and Pierre Valette-Florence. "The Impact of Brand Penetration and Awareness on Luxury Brand Desirability:: A Cross Country Analysis of the Relevance of the Rarity Principle." Journal of Business Research 83 (2018): 38-50. Print.