The Final Major Project comprises of
all the skills we have learnt over the past two years. It is a chance to bring
together all the knowledge and experience gained throughout the course. This
project has been the most interesting yet challenging project to date but also
an exciting piece of work to finish the course on.
The project had to include aspects
of the Business Management and Branding and Marketing projects and also, the
analytical tools we learnt in our first year.
The objective of a business plan is
to discuss the business in question and showcase its viability. This included
the use of primary and secondary research of online fashion retailing and areas
surrounding this subject. The business in question is an online fashion brand
called Shipment, which will launch August 2012. This project is an actual
business plan for a real start-up business which made the research very
rewarding. Finding figures and understanding market attractiveness reaffirms
the reality of this business and the success it could possibly it have.
The market analysis and macro and
microenvironment are something that has become second nature to complete due
its repetition throughout the course. The analytical side can be justified through
research and understanding of the market.
Alongside the facts and figures we
were required to research, shoot and edit an advert that coincided with our
project. It is always important that throughout my projects there is an equal
amount of creativity and visuals. Marketing is an extremely creative industry
and it is important to now think creatively and not just strategically. This is
why the advert was so enjoyable to create as it brought the whole project
together and showcased the passion that is currently being put into the brand.
It is important that anyone who is
reading the project can understand the brand and what it is all about. The
easiest way to do this was through the advert and the branding. The branding is
a crucial part of any fashion business as it is a way to establish the brand
and project an image to consumers. Branding also adds to the success of a
brand, as it has to be visually attractive before it can even become a viable
business. It is evident in the report that visuals play a major role for any
online brand as this is the store environment and main means of visual
merchandising.
This project also had its struggles,
with the finance section proving very difficult to begin with. Since there is
no profit and loss accounts for Shipment, the finance had to be made up of
projected sales and a budget plan. These are two tasks that are time consuming
and difficult to understand if you don’t have the relevant information. The key
was to break it down and show the reader that the company is viable and that it
is clear what needs to be put into the business to make a successful launch and
of course that the business will make money.
Furthermore, the project is not only
made up of content from our previous projects but also provide minor mistakes
that can be corrected on the FMP. A helpful task in completing this project has
been reviewing tutor notes and previous projects to spot easy errors and means
of improvement. This project should be a step up from all over projects and
should display the vast knowledge that has been learnt over the past two years.
The FMP has certainly been a
challenge and a strenuous project to put together, but after all the research
and effort that has been put into it, the outcome has been exciting and gratifying.
