(Tiểu luận) thats why mid clothing was born

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<b>ECONOMICS & FINANCE</b>

<b>---E-COMMERCE </b>

<b>Course code: 221.BUS1104E.B12E </b>

<b>Lecturer: Le Thai Son </b>

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I. INTRODUCTION ... 4

II. BUILDING A BUSINESS PROCESS ... 5

1. Reason for starting the business idea ... 5

2. The advantages of establishing a website for selling clothes ... 5

5.3. Sectors and products business ... 14

5.4. Reason to choose an online business ... 15

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9. Marketing plan: ... 21

9.1. Brand identity system: ... 21

9.2. Short -term marketing strategy: ... 21

9.3. Long -term marketing strategy: ... 23

9.3.1. Determination of foundation structure: ...23

9.3.2. Brand positioning: ... 24

9.3.3. Building a brand strategy: ... 25

9.3.4. Develop communication plans: ...25

9.3.5. Measurement and correction of communication plans: ... 25

III. SUMMARY ... 26

1. Requirements that the project has met: ...26

2. Requirements that the project has not met: ... 26

3. Development orientation and suggestions for the business...27

IV. CONCLUSION ... 28

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<b>I. INTRODUCTION </b>

Vietnam in recent year, along with all countries around the world, has been integrating into the trend of globalization and exercising national campaigns towards the overall development in economic, political, social and cultural aspects.

In that context, e-commerce is considered a core industry in this integration trend. Moreover, e-commerce is growing strongly because of the speed of using the internet and many modern technologies. People increasingly prefer this form of trading because of its advantages. With this form, no matter where you are, as long as you have an internet-connected device, you can buy anything you want. From the benefits of using e-commerce: Increased revenue, reduced advertising costs, low costs global marketing, better customer service, competitive advantage. Moreover, as students, capital is not much, we see that in Vietnam the fashion industry is increasingly potential, diverse and rich in quantity, type, color, ... so we came up with the idea of a mid-range clothing business but high-quality for almost all customers.

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<b>II. BUILDING A BUSINESS PROCESS 1. Reason for starting the business idea </b>

Fashion is one of the indispensable needs and never enough for people's lives, especially clothes. From work clothes to everyday wear, there are many designs, styles, and brands. Shopping demand is increasing due to economic development, people's aesthetic taste is also improved, and people tend to shop more to replace old clothes. It is no longer like in the past, only women have beauty needs, but today's society is increasingly modern and developed, and both men and women have the same beauty needs. Grasping that demand, more and more fashion brands, and clothing stores have been opened to provide this product on the commercial market. Today, with the development of technology and the increasing demand of customers, shopping via the internet is a fast, compact and convenient method for all shopaholics who want to shop without any hassle. It takes time and effort to go out and still find the item you like. That's why Mid-Clothing was born.

<b>2. The advantages establishing a website for selling clothes of</b>

The clothing store website idea is not a new one, but it has solved the goals of sales, brand promotion, and product introduction to customers, making it convenient and easy for customers to shop for products. With just one click, customers can freely shop for their favorite products, with detailed product information such as price, origin, size, color… For each trader in business, convenience and customer satisfaction are put first, so the website always has online support 24/7, and customers can ask about product information, discounts, or employees. The staff can advise customers on the products that can be included, and the latest fashion trends.

<b>3. SWOT analysis </b>

• Strengths:

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6 - MID-CLOTHING is a pioneer in the business of mid-priced but

high-quality clothing products.

- Wide range of activities, there are many types of goods to meet the different needs of customers.

- Competitive price: middle price but high quality.

- The quality of care, customer service, staff and the latest equipment we have in our factory.

- It is a product designed and processed by the company itself. • Weakness:

- The main disadvantage facing us is that we are a new apparel company and we do not have the financial means to compete with billions dollar fashion brands.

- It's a new brand, so not many customers really know about it.

- Spend a lot of time and money on designing, outsourcing, marketing, and PR for the brand.

• Opportunities:

- The market appreciates the quality of new products, this is an opportunity to enter the market.

- Clothing products are always a necessity of every person, with designs and styles that are always updated, always catching up with trends and

- Having to compete with many competitors in terms of price, design quality, service... in general, it will be very difficult.

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- The e-commerce market, besides competing with competitors, also has to face risks from the network environment, such as: web attacks, new account.

- one of the main threats we may face is a recession, the fact that a recession affects purchasing power.

- Another threat we may face is the emergence of a new clothing line that may want to adopt the same business model as ours.

<b>4. Market and customer analysis </b>

4.1. Market analysis 4.1.1. Market research:

The fashion business is an attractive industry because of its rich customer base, many sources of supply, and also following trends in tastes. Although the revenue of our country's fashion market has decreased due to the influence of the Covid-19 pandemic (in 2020 it will decrease by more than 10% compared to 2019) and is gradually recovering and developing. However, communication channels and online shopping received outstanding growth when people began to have the habit of shopping online. This means that e-commerce has become an indispensable business model that fashion brands need to adopt, not only to survive during the Covid-19 pandemic but also to help businesses adapt to the change. changes of consumers, creating competitive advantages for breakthroughs in the future. In the Vietnamese market, the fashion sector is the main pillar of the e-commerce industry, second only to the food industry (2021). Therefore, fashion e-commerce (Fashion E-commerce) is a trend. indispensable business of today's fashion brands, from fledgling startups to "giants".

According to the survey, young people aged 25-34 are the group that spends the most on fashion. This is understandable because young people always pay attention to their appearance and invest the most in taking care of their

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8 appearance. Besides, this is also the age group that quickly grasps new trends and whose consumption behavior is heavily influenced by the media and celebrities. Which, the percentage of women's fashion spending in Vietnam is slightly higher than that of men, reaching more than 50% by 2020.

➢ We can see with the development of technology, the online shopping market is now more vibrant than ever, you can easily find the items you are interested in through social channels like Instagram, Facebook, Zalo, … and the most prominent one is Facebook. Just a few minutes of surfing the newsfeed (message board) you will see countless large and small-scale online fashion shops. Fashion products in general and clothes, in particular, are considered to be the most used items to buy online.

4.1.2. Competitors:

Using this online business model has made it possible for us to provide convenience to our customers. They can see all of the miniature store's products on just one website. The investment capital to build an electronic website is also much smaller than that of opening a physical store, while the profit earned is not inferior at all. Therefore, the fact that a lot of people rush to do business online is a very understandable thing. Anyone can see how easy it is to break into this industry, but of course, being able to survive and get a foothold in this competitive industry is extremely difficult and difficult harsh.

In the current Vietnamese fashion market, the number of stores with their own websites is not too much, but it is increasing day by day. For young people, perhaps the most familiar is not a separate clothing store website, but enbac.com website, this is a rich world of fashion, from very affordable items to very affordable items. Stylish expensive brands with constantly updated designs. Convenient for both the seller and the buyer, the product information is very clearly divided so you don't have to search hard: from men's fashion, clothing, accessories, and cosmetics to liquidation or other items. products are on sale. The

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variety here makes it easy to find a unique item or a surprise gift for family and friends, especially during holidays or special anniversaries. Enbac.com is one of the 10 largest online sales websites in Vietnam in 2009. However, at enbac.com, the compatibility between customers and store owners is not much, this is not a professional website. sells fashion goods but is an "electronic market", a place for shop owners to post product information and store addresses only. So, with the desire to make it special, the group's goal is to create a website specializing in introducing and selling clothes for the fashion shop that the group will open, not a website introducing products for a brand or brand. As a separate garment company, the products of the website that our team built are also extremely diverse, and there are no limitations in terms of designs, brands, or prices. If it comes to websites that sell fashion, and introduce products to fashion shops in a professional way (but not websites to introduce products of companies or garment stores), currently there are not many in Vietnam. Typically, there are websites

It can be said that khomtranghot.com is a professional website for buying and selling clothes online with a wide range of products of many fashion brands, from office fashion to streetwear or bodywear, Product information is also updated continuously and quite enough. Professional website design, fashion trends, and new fashion styles are also updated. Promotions and gift vouchers are also updated regularly. However, the online support section of this website almost never has an online customer consultant, which shows that the number of customers interested in the product and want to contact to order or consult is not

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10 much. makes this section appear to be left open. Meanwhile, if you really get the attention of customers, with a dedicated service attitude and thoughtful advice, it will certainly have a great effect on the reputation and reputation of the website. By looking at the products of this website, it can be seen that this website is also not the choice of many young people because the clothes for young people - especially the student age on this website are still not rich and the prices are low. quite high compared to the pocket of students.

If khomtranghot.com is aimed mainly at working people, modethoitrang.com is a website with many options for young people and teenagers such as teen sweaters, double t-shirts, and men's and women's jackets. for the age group from 16 to 25. In addition to selling clothes, this website also specializes in providing items from Hong Kong, Shanghai, Guangzhou, and Shenzhen - China. Order samples on request at the factory. fashion products, cosmetics, civil appliances, beautiful home furnishings, and accessories. It can be seen that modethoitrang.com's products are quite young, but the quantity is quite modest, with little choice for consumers, especially young people - who always have extremely rich interests and needs. about fashion items. Online support categories, fashion trends, and customer care are not focused. Also has the same disadvantages as modethoitrang.com is Shopthoitrang.com, a website with a rather sketchy interface and similar products.

Websites khottranghot.com, modethoitrang.com, webthoitrang.com are all based in Hanoi. Coming to Ho Chi Minh City, there are two quite famous clothing websites, teennghich.net and quanaoredep.com Teennghich.net and quanaoredep.com are online sales websites aimed at teenagers with stylish fashion models. unique, mischievous, youthful way. The interface of quanaoredep.com is quite eye-catching with graceful women's costumes and a large quantity, rich styles, and affordable prices. However, both websites

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teennghich.com and quanaoredep.com are establishments in Ho Chi Minh City, so there are no clothing items for Hanoi's winter.

According to our team's assessment, the online clothing websites of Ho Chi Minh City are more developed than Hanoi in terms of quantity as well as the website interface is more professional. However, the number of goods as well as new applications on the website, not a single website has outstanding points. 4.2. Customer analysis

When launching a new product line, the most important thing does not revolve around your collection and designs. Instead, “Who will this collection suit best?” It is the key factor that the brand needs to identify from the very first day. A typical customer profile will be determined through the following factors:

• Demographic:

Customers are an important factor determining the success or failure of the store in the market.

- Age: 18 38 -- Gender: female

- Income: under 20 million VNĐ

- Occupation: students and office employees • Geographical location:

Customers who mostly live in big cities such as: Ho Chi Minh, Ha Noi, Da Nang, Hai Phong, etc.

• Psychographics segmentation variables: - Lifestyle: modern, open-minded lifstyle - Social class: middle class

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<b>5. Business plan </b>

5.1. Develop a timeline

A project timeline is a visual point of reference that enables team to comprehend the flow of tasks required to finish a project on schedule. It provides a summary of all necessary tasks together with their assignments, priorities, and deadlines. Moreover, timeline gives team leader the option to monitor progress and change course as needed. Here is the timeline which is created to keep track of our team deadlines:

<b>Phase Activities ^Milestone</b> - Develop a site website. - Arrange for hosting a site. - Design colour schemes,

graphics, videos and the

- Identify potential sponsors. - Adding more necessary

pages in website (an

A functional website.

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inviting homepage, a contact section, an online booking system, etc.)

<i>Phase 4: Social media </i>

A social media plan

<i>Phase 5: Social media implementation </i>

- Develop Facebook and Instagram presence. - Post contents on Facebook

and Instagram every day.

Functioning social media presence.

5.2. Business goal

The purpose of establishing Mid-Clothing is that we want to bring consumers an online clothing store; a good, fast, easy- -learn, attractive website; to a flexible and reliable distribution system that provides customers with the full range of fashion products that Mid-Clothing deals in. Mid-Clothing is operated with the criterion of always putting the customer first. We always want to satisfy customers, and bring customers the best products and services. Therefore, we have set specific goals to serve the mentioned purposes:

- Preliminary website with 95% of required features must be completed for 3 days test before actually put into operation.

- Members take turns online, make sure in the "Online Support" section. There is always a consultant, customer support 24/24, can initially do 15/24h, then

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14 will divide the appropriate time to ensure customer service in a timely manner.

- The download time for any image/website in the site is less than 15s - The majority of customers (over 75%) rate the website with good criteria,

satisfied with the service that the store provides. - The information is provided up to 4 clicks. 5.3. Sectors and products business

Fashion is an industry associated with the beauty industry, the field of fashion design is extremely large, requiring each individual, student or researcher to have time, aesthetic taste, and perceptive ability to lead consumers to beauty. Currently, there are many clothing suppliers for the shop to choose from:

- Source of goods from wholesale markets. - Source of factory goods, processing facilities.

- Source of goods from agents or specialized stores VNXK. - Sourcing from abroad.

- Beautiful, diverse product designs, updated with many hot trend models, suitable for user tastes.

- Ensure product quality (sewing, shape, fabric material...). - Affordable product prices.

- Must have a high aesthetic sense, grasp the trending models in the market so that when importing goods, they have good products suitable for customers' needs.

The accompanying fashion accessories such as: Hats, bracelets, necklaces, belts, leather wallets.. These products will also be designed similar to the above. For example, each bracelet in the set will have a person's name, or like each hat will have the image that only two people walking together can express its meaning.

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