EXECUTIVE SUMMARY OF BUSINESS PLAN Essay Example | Topics and Well Written Essays - 500 words

EXECUTIVE SUMMARY OF BUSINESS PLAN - Essay Example Past predictions held that the global textile and clothing industry would have become a $500 billion market by the year 2010 (Govett, 2006). While many products in the US are imported from China, the recent product needs are creating a lot of opportunities for Turkish companies. Therefore, my target clients will be the modern and elite consumers of Turkey, Europe, and the US. In textile industry, the most beneficial business results from manufacturing the product for the modern elite because they are the people with the largest amount of disposable money and are willing to invest in clothes frequently for fashion and style. Having modern elite as the target audience also directs manufacturers’ attention more toward quality of work than quantity. Clothes thus produced are sophisticated and of a very high quality and can thus be presented on international fashion shows which in turn helps the business entrepreneur get global fame for the company. International exposure is very necessary if a business entrepreneur has plans of expanding the company globally after its establishment. My designs would be inspired by nature in general. I shall take inspiration from the dramatic color combinations of beautiful birds and natural scenes. Some brands that I would consider for inspiration and direction include Gucci and Armani. My promotion strategy will be based on two things; first, using the existing channels of promotion that my father has been using for decades and second, using the Internet in general and social media in particular as the channel of promotion. I shall start over by making the clothes accessible for purchasing to the people online. I shall also get my clothing line advertised in the magazines popular among the modern elite, and get my clothes modeled in famous fashion shows once I have sufficient collection. Therefore, the channels I shall be using will include