An International Development Agency and A Fashion Brand
The Problem
An international development agency is seeking the support of a business development consultant to guide a fashion brand team on the development of a business plan that ensures the financial sustainability of the brand. One of the brand's main objectives is to build the skills of local crafts women and men and empower them economically. Accordingly, the business plan is to include ways and recommendations by which the crafts people could be integrated into the brand's value chain.
The Approach
We start by first understanding the current situation of the local market through analyzing existing field research in order to capture insights about customers and competitors as well as gain a better understanding of the available marketing collateral, pricing techniques and production capacities. Secondly, we hold a strategy workshop (a one day workshop to decide on strategic direction of the brand); this involves decisions on revenue streams, product range, sales channels, pricing strategies, target customers and the various elements of a business model canvas.
The next stage involves aligning strategy and strategic objectives including organization design which entails suggesting an organization structure and recruitment plan that would enable the brand to deliver on its new strategic direction. This includes the resource planning for the positions and talent that will be required in order to execute on this strategy.
Once the strategic direction is set, the consulting team develops a marketing strategy that addresses the online presence across the multitudes of platforms, the key sales channels and the required spending in order to convert visitors into customers. We also develop the key marketing messages and set communication guidelines.
The final stage includes the financial sustainability model consolidating all results into forecast income statements that summarize the cost structure and required income in order for the brand to be sustainable. Objective is to define sales volumes required to make the brand not reliant on grants or funds.