| 5th Dimension Clothing | |New Venture Concept plan | | | | | | | | |
5th Dimension is a new venture situated in Melbourne China town. This had a business two years ago, but it had been closed because if low of sale. This is a plan for 5th Dimension relauch. Its founders and entrepreneurs Samuel Yeung and Kelvin Chia are undergraduates who have worked in the clothing industry for few years and are determined to satisfy the demands of their identified customers with the new trend of cloths cutting across both official and casual. 5th Dimension is a fashionable retail store providing high quality, trendy products at discount prices. The study has shown that the target market of sports retailers and office-minded customers would prefer buying more casual clothing as opposed to what 5th Dimension presently offers. The clothing company is also interested in expanding their product line including adding up new product lines in the future. In addition, 5th Dimension plans to try opportunities in online sales. The marketing atmosphere has been viewed as receptive to the company’s high-quality products— both official and casual clothing in trendy with colors that depict the attentions of outdoor customers across Melbourne. In the next one year, 5th Dimension looks to increase its distribution, present new cloths, and acquire new and more clientele.
1.0 Introduction and Rationale
2.0 The problem
3.0 SWOT Analysis
4.0 Competitive analysis
4.1 Perceptual map
4.2 Primary competitor
4.3 Secondly competitor
4.4 5th Dimension’s competitive advantages
5.0 Objectives SMART
6.0 Target Market
7.0 Organizational structure/size
8.0 Current Status
9.0 Funding Requirements
1.0 Introduction and Rationale
5th Dimension’s was set up to be a leading maker and dealer of official, casual clothing for customers who are keen on the fashions. The company wants to encourage people to often go shopping for cloths with family and friends since it offers both official and casual from the age of 15 to 50 years. In addition, the firm is planning with programs for corporate social responsibility in the future which is mainly to conserve environment. This is a way of giving back to the community in which their customers comes from. Ultimately, the firm would want to create and finance its environmental plans. This program will spell out how 5th Dimension aims to initiate new products, increase its distribution, go into new markets, and carry out its CSR. It seeks to employ its key competencies to accomplish a sustainable competitive edge, in which rivals cannot offer the same value to customers that 5th Dimension does. Already, the firm has created key competencies by “providing a high-quality, branded wear whose image is familiar amongst consumers, building a united community amongst customers who buy the products, creating a reputation...
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