The question is that I am a strategist to a company called NUVO, a fast fashion retailers. Our main competitors such as Zara, Topshop.
my group has come to a decision that our company is named NUVO. it is australia based only. for young adult and working adult from age 18-35 with high income as our price is high.
1. Marketing segmentation and segmentation evaluation on a company.
2. Ansoff matrix – growth strategy
In Short term – product development , product extension such as belts, wallet, accecories etc
Increase in service – in store service maybe in the store now there is fashion consultant that give fashion advice to the customers.
In Long term – market development, regional expansion
3. Strategy implementation
Retail Chanel Strategy such as collaborating with David Jones (high-end fashion),
Online free shiping in Australia to increase service,
South Yara Toorak Income demogrpahic in the opening store areas
– put some diagram.