What patterns did you notice? What was similar/dissimilar between the plans? Etc. ) Your comments should be directed to all three business plans, taken as a whole. Do not evaluate the specific ideas in the plans but rather focus on the plans themselves. 1 It surprised me to see the diversity of the target customers between the companies. Baubles focuses solely on the female market, women between the ages of 25 and 65. Trestle Creek Cabinets focuses on contacting contractors and architects that deal with the luxury home market. This helps hem getting personal recommendation to the homeowners.
New Look on the other hand targets males between the ages of 20 and 40, who are willing enough to spend on high quality priced clothing. 2. Competition faced by these companies. Baubles primary competitors are Skill’s, Veda, Clique, Fresh and Essential Elements. Its competitive edge is its lower prices and high quality products. Trestle Creek Cabinets faces competition in the local market. Its competitive edge is their ability to provide high volumes and flexibility in style, while maintaining a quality product backed by excellent service. New Look exists in a dynamic and competitive environment.
The company’s name, New Look is not attached to any particular group of customers and it allows entry into different segments of the industry, serving as a competitive advantage. Through the use of celebrities, advertising and promotion, the company has been able to develop its presence in the market. 3. The different kind of sales strategy. Baubles sales strategy consists of two parts. First, hire and train people who fit the Baubles image and lifestyle. This insures that the employee has the necessary knowledge to serve the customer and close the deal.
Second, commission and retention programs that will insure that the employees are rewarded for their good performance. Trestle Creek Cabinets sales strategy is to make themselves known through mailings, print advertising, and personal contact to architects and contractors who are primarily involved with the design/construction of commercial development and luxury homes. New Look sales strategy is to build a sales team that will be tasked with generating sales leads on a regional and national basis. They will also be responsible for establishing connections with retail outlets.
Would YOU invest in each of these companies- Yes or No and why? I would invest in Baubles and Trestle Creek Cabinets because of the good marketing strategies designed by the company. The sales and distribution strategy have been planned in a way which will help each other in achieving its goals. The promotional strategies are also one of the most economical and popular ways of advertising. On the other hand I would not invest in New Look for the sole reason of it not being able to differentiate itself from the other companies in the same field.