Contents

• 1. Executive Summary………………………………………………………………………………………………. 2
• 2. Introduction…………………………………………………………………………………………………………. 3
• 3. Business Opportunity……………………………………………………………………………………………. 3
• 4. Business Proposal…………………………………………………………………………………………………. 4
• 4.1 Key Objectives………………………………………………………………………………………….. 4
• 4.2 Mission Statement……………………………………………………………………………………. 5
• 4.3 External Environment Audit……………………………………………………………………... 5
• 4.4 Industry Analysis……………………………………………………………………………………… 8
• 4.5 Business Strategy…………………………………………………………………………………… 10
• 4.6 Sourcing the Product………………………………………………………………………………. 12
• 4.7 SWOT Analysis……………………………………………………………………………………….. 12
• 5. Marketing Strategy……………………………………………………………………………………………… 15
• 5.1 Market Research and Competition…………………………………………………………... 15
• 5.2 Target Market Segment…………………………………………………………………………... 15
• 5.3 Marketing Mix………………………………………………………………………………………... 16
• 5.4 Critical Success Factors and Risk Analysis……………………………………………….. 19
• 5.5 Finance Management……………………………………………………………………………… 20
• 6. Conclusion………………………………………………………………………………………………………….. 21
• 7. List of References………………………………………………………………………………………………... 22

Description

Guess Watches is developing innovative and creative designs in watches for the young segment of the market. The business venture is based in Melbourne, Australia and will expand to other cities of Australia. Because of the lenient and encouraging trade and market policies introduced in Australia, the conditions for the business are quite encouraging. Also, the young market segment of Australia is growing steadily and has more money power. The scope for expansion of Guess Watches is large.
The key objectives of Guess Watches are- to stimulate the market for watches, establish its reputation in the market in order to carve a niche for itself, build up a brand image as seller of trendsetting watches, attract more customers by providing good value for money and expanding sales and investment. The PEST and Industry analyses reveal that the factors are more or less leaning in favor of the business venture and therefore, it is the right time to launch the brand.
Guess Watches shall adopt an amalgam of cost leadership and product differentiation strategies in order to yield the best possible out of the business venture. The product would require sourcing of manufacturing material and expertise from UK and US. SWOT analysis reveals that the major threat to the business is from cheap Chinese watches. Guess Watches shall counter it by providing excellent quality watches with warranty and guarantee and offering the best value for money.
The right marketing mix shall steer Guess Watches towards success. Combining critical success factors and risk analysis is essential. The projected estimate of returns is 40% to 50%. Guess Watches Guess Watches has ample scope to develop in the current market.