ASSIGNMENT 1 (CPD Module 1,2,3)
Submitted by,
Angela Aijaz Rizvi
0834985
PESTLE Analysis (Module 1)
Political
● Regulatory Environment: Check frequently trade tariffs, regulations on import/export,
restrictions and standards in your industry. This assists the boutique in introducing it
to possible risks and opportunities related to the acquisition of materials and the
selling of its products.
● Sustainability Initiatives: Utilize the schemes offered by government for sustainable
practices and policies, using benefits like tax credit or grants that help cutting costs
and making an organization environmentally friendly.
Economic
● Market Trends: Achieve consumer income level insights and expenditure trends to
improve price making techniques and products offered. Possibly, the concept of
affordable luxury might adapt to the needs of more people.
● Economic Stability: A stable economy makes the consumers develop confidence in
the market to buy fashion products. Indeed this stability makes for proper capital
investments in boutiques expansion or in other product lines.
Social
● Consumer Demographics: There is a need to consider the age income status and
lifestyle and culture preference of the targeted clients for an effective marketing
campaign. Introducing customer specific strategies improve customer loyalty in the
shopping process.
● Fashion Trends: The important trends must consider include a continuously shifting
consumer preference hence the call to adopt environmentally friendly products and
fair trade fashion. This can make a sensible difference between the boutique and
other similar establishments.
Technological
● E-commerce Platforms: Leverage on effective eCommerce platforms which enable
the reachout to the global market. Efficient navigation during online shopping
processes and safe payment methods can improve customers ‘satisfaction.
● Social Media: Utilize areas like the Instagram and the Facebook in creating and
articulating your marketing strategies and engaging the customers. New collections
should be posted to followers as well as new fashion tips and exclusive offers should
be posted to keep up the activity and sales.
Legal
● Compliance: Compliances with Consumer protection Act and laws, Labeling
regulation and standards, and fair trade regulatory Acts. This makes the clients to
have confidence and confidence in the boutique and it also shields the boutique from
legal complications.
● Labor Laws: Livelihood laws regulating production and sales industries should be
followed; this information should be updated frequently. Ethical business practices
across labor not only meet with the understanding of the law but also improve the
corporate image.
Environmental, Sustainability, Governance (ESG)
● Sustainable Practices: Use environmentally-friendly material and products, recycle
and avoid the use of materials that will pollute the environment, use organic fabrics. It
targets consumers that are sensitive towards the environment and it also covers
global trends for increment in sustainability.
● Corporate Responsibility: Establish programs that will prove that the company is also
compliant with ethical sourcing and corporate social responsibilities. This may help
gain and maintain clientèle always interested in products from sustainable and ethical
businesses, hence the firm’s market share and competitiveness improves.
Porter’s 5 Forces Analysis (Module 1)
Threat of Substitutes
● Unique Value Proposition: Substitute can be partly controlled by the boutique since it
provides special, quality and unique clothing lines as well as meeting individual
customers’ needs. Through offering special collections and providing customers with
the products that are on the trend, the boutique offers shopping that the customers
cannot find in other stores.
● Customer Experience: In-store and online purchasing experiences specialization with
styling tips and consumer reward systems retains consumers and decreases
chances of them shopping at different stores.
Bargaining Power of Suppliers
● Diverse Supplier Base: The company currently sources fabrics and other supplies
from various vendors in order to get the best market prices and good quality material.
This diversity eliminates reliance on any particular supplier and enables the boutique
to obtain concessional terms.
● Long-term Relationships: This relationship management with the key suppliers
generates reliability and sometimes a guarantee on the products’ quality. These
relationships can also extend to compiling exclusive privy or the first inside look at
the line of new products.
Bargaining Power of Buyers
● Customer Loyalty and Engagement: Consequently, buyers are moderately powerful
because of the number of fashion retailers out there, but the boutique makes it even
stronger with the help of customer engagement techniques. These set-up of
individual selection, priority access, and special privileges provide consumers with
the feeling that come with membership.
● Value-added Services: That is why such services will create a perception of higher
value added to the product such as free alteration, fashion workshops, and styling
sessions and make the customer less sensitive to the price.
Industry Rivalry
● Competitive Landscape: Intense competition is a common feature of the fashion
industry mainly because many boutiques offer related products. Regarding
sustainable and responsible fashion sourcing and offering state of the art products to
the consumers explaining how the boutique is unique.
● Innovation and Adaptation: This way the boutique is able to sustain the competition
and continually be able to invent new strategies for the market. This means adopting
and deploying digital marketing and developing extensive e-commerce proficiencies
along with partnering with local designers to produce products that aren’t available in
other stores.
Overall Score:
Original Score Multiple Multiple Score
(OG Score x
Multiple Score)
Threat of 4 x 0.20 0.8
Substitutes
Bargaining Power of 5 x 0.15 0.75
Suppliers
Bargaining Power of 6 x 0.25 1.5
Buyers
Industry Rivalry 7 x 0.30 2.1
Threat of New 3 x 0.10 0.3
Entrants
Total Score 5.45
Diamond-E Model (Module 2)
Definition of Success
The success strategies for the clothing boutique include building a good market
image of the company as a supplier of quality, fashionable and environmentally
friendly wears. It means achieving an acceptance of its product and services within
the local market and then progressing to a wider market. The primary goal is
customer satisfaction as a result of good service delivery and fun as they shop.
End Goal
The ultimate corporate goal is to be among the famous fashion businesses not only
on the local market but possibly on a national level. This entails being able to focus
on the quality of the products that you are selling, how loyal your clients are to your
business and some other measures that help to create brand image.
Growth Aspirations
The plan is to grow the boutique into a mid-sized business by emphasizing:
● Sustainable Practices: including the use of environmentally friendly and
attributing sustainable method of sourcing.
● Innovation: Revising the product line at the same rate as new trends appears
in the fashion industry.
● Customer Experience: Creating a customised shopping experience concept
that can improve customer loyalty by enhancing the consumer's experience.
Priorities include:
1. Selling its products at reasonable price and coming up with high quality
fashionable products.
2. Providing Staff training to enhance customers’ service delivery.
3. Striving for reasonable profitability in delivering service by empowering
marketing and operation strategies.
Personal Preferences
First, I have to participate in the daily running of the business so as to make
necessary changes and set the boutique in the right direction. In the future, I will be
able to outsource activities to deal with those repetitive tasks in order to concentrate
on achieving greater strategic goals of the fashion business, conquering new
markets and looking for further opportunities within the fashion niche.
Skills & Capabilities
Existing Skills & Capabilities Skills & Capabilities Needed
1. Fashion Knowledge: Knowledge 1. Advanced Marketing Knowledge:
about competitors and present Developing expertise in digital
tendencies of the market and marketing, particularly social
clients’ needs. media and e-commerce.
2. Customer Service Skills: 2. Financial Management Skills: A
Experience in providing excellent knowledge about budgeting,
customer service. financial planning and control,
3. Business Acumen: Strong and cost estimation.
foundation in business 3. Supply Chain Management: It
operations and management. covers certain areas of the
business such as sourcing of
materials, and management of
inventories.
4. Networking Skills: Creating
networks with other chains and
influential persons in the fashion
line of business.
Resources
Resources I Have Resources I Need
1. Initial Capital: Capital to open a 1. Additional Marketing Funds:
small boutique or a start up Promotion and advertisement:
capital as some may prefer to More capital on advertising and
call it. promotions.
2. Target Market: A specific 2. Skilled Staff: Recruiting
audience who is specifically competent human resource
concerned with, or conscious particularly in the field of retail
about the environmental impacts sales and customer relations.
of the fashion industry.
3. Supplier Relationships: having 3. Legal Advice: Advice on
relationships with local and adequacy of compliance with
ethical clothes manufacturers in Retail laws and regulations.
the fashion industry. 4. Networking Opportunities:
4. Location: A strategic and easily Formation of partnership with
accessible environment fit for fashion personalities and locally
retailing. established retailers along with
events for marketing alliances.
Using the developed Diamond-E Model, the clothing boutique can match the
resources and capabilities with vision and growth strategy. To put that into
perspective the skills and resources that are lacking will play a big role in competing
favorably in the market and in the long run. Customer centrality, sustainability and
improved market communication will ensure that the boutique thrives despite
competition and clients’ loyalty will be ensured.
The following strategic action plan will appropriately position the clothing boutique to
a more successful and sustainable future in the fashion business.
Positioning Statment (Module 3)
At my clothing boutique, we offer affordable luxurious clothes that are well designed
and made from eco-friendly materials for the fashionable and savvier customer. The
combination of fashionable, unique, and sustainable products means that we enjoy a
competitive edge in the Canadian Market as we provide clients with specialized
clothing options. We believe in customer satisfaction and therefore, we always aim at
extending customized services/assistant in products of choice.
