Double A women’s boutique located along Broadway street in New York City deals with retail selling of women clothes, shoes and other personal effects.
Self-Analysis
I consider the fact that I have ever worked in a women’s boutique along 59th street in New York as my major strength. However, my major weakness involves the fact that I have never taken part in business before and have zero experience in running personal businesses. The demand for women clothes and other personal effects have grown in the current times. The various fashion lines are high in demand from several Americans in New York. There are, however, several other women’s boutiques along the street hence providing a chance for stiff competition.
Customer Analysis
The potential customers are the middle to high earning women with an extra coin to spare on stylish brands of clothes, handbags, shoes, makeup and other personal effects. Most of the customers seek for sleek products at a cheaper price. This particular niche of the market is termed the middle and high earning women with a size covering almost the whole of New York. This market niche is valued of millions of dollars out there to be spent on personal effects and clothes daily.
Market Research
The market for women cloth ware is relatively wide in nature. The per capita income for the city as of 2008-2012 was $31, 661. The total population as of 2010 was over eight million people with more than half being women. This creates an economically stable market for men clothing and stuff.
The market environment is, however, filled with many other retail outlets thus offering stiff competition in the field of selling women clothes and personal effects in the city. However, despite the competition, proper advertisement is the major key to standing out.
