Question 1. Describe the consumer buying behavior for the WROGN shirt?

When it comes to WROGN shirts, the target audience's purchasing decisions are shaped by a
dynamic interplay of factors. This behavior centering on the brand's identity and image, which
are greatly impacted by its co-owner, cricket legend Virat Kohli of India. Especially with
younger customers who look up to Kohli's persona both on and off the field, his partnership with
WROGN lends an air of aspirational attraction. Customer interest and engagement are
maximized by this celebrity endorsement because it gives the brand legitimacy and desirability.

Also, WROGN shirt designs are crucial in drawing in customers. Bold prints, humorous
graphics, and trendy styles define the brand's aesthetic, which appeals to its younger target
audience. The target audience's values are aligned with these designs, which not only reflect
current fashion trends but also emanate individuality and self-expression. These people want to
make a statement about their clothing choices.
WROGN uses a mid-range pricing strategy that aims to balance perceived value and
affordability. This pricing strategy positions WROGN as a premium option within its segment
while making shirts more accessible to a wider range of consumers. Price-conscious buyers who
won't settle for less style or quality are especially well-suited for this tactic.

WROGN is even more appealing to customers thanks to its marketing and promotional
initiatives. The brand effectively reaches its target audience where they spend their time by
maintaining a strong presence across a variety of channels, including influencer partnerships,
targeted advertising, and engaging social media campaigns. Furthermore, marketing campaigns
held in conjunction with high-profile events like cricket matches take advantage of Virat Kohli's
fame to create buzz and boost sales.

In the end, a variety of elements, such as brand perception, product design, cost, promotional
campaigns, and general brand experience, influence consumer purchasing decisions for WROGN
shirts.

Question 2. What do you understand about global inequality and how it is impacting the
economies around the world? State your answer using statistical figures on global
inequality.

The unfair and uneven distribution of resources within any society is referred to as inequality.
This unequal distribution of resources among countries worldwide is referred to as global
inequality. Aside from income, other factors that influence inequality include gender, age, origin,
ethnicity, disability, sexual orientation, class, and religion.

Example: Economic disparities

According to Hardoon and Suckling (2022) "Just 8.5% of global income is shared by the poorest
50% of the population."
Higher disparities in opportunities hinder the acquisition of skills, stifle social and economic
advancement, and hinder personal growth, all of which have a negative impact on economic
expansion. In addition, it strengthens a sense of unpredictability, vulnerability, and insecurity;
erodes confidence in authorities and institutions; heightens social unrest and tensions; and incites
violence and conflicts. There is mounting evidence that nativism and extreme forms of
nationalism are on the rise due to high levels of income and wealth inequality.

Global inequality is a complex issue that affects economies, societies, and international stability
from a wide range of angles. To solve this problem and create inclusive growth, lessen
inequality, and provide a more sustainable and fair future for all, governments, international
organizations, the private sector, and civil society must work together.

Question 3. Suggest some financial decisions for companies to maintain their liquidity
under covid-19 or lockdown situations.

Maintaining liquidity is essential for the survival and stability of businesses during COVID-19 or
lockdown situations. To improve their liquidity position, businesses should think about making
the following financial decisions:

Cash Flow Management: Make careful note of all cash inflows and outflows by putting strong
cash flow management procedures into place. This entails projecting cash flows, ranking
necessary costs, and postponing non-necessary purchases to save money.

Measures for Cutting Costs: Determine where expenses can be cut without having a major effect
on operations. Renegotiating contracts with suppliers, cutting back on discretionary spending,
putting hiring freezes in place, and optimizing inventory levels are a few ways to do this to free
up cash.

Access to Credit Facilities: To increase liquidity, investigate your options for obtaining loans or
new credit lines. Using pre-existing credit lines, negotiating loan extensions or repayment
holidays with banks, or looking into government-backed lending programs created to assist
companies in times of need are some examples of how to accomplish this.

Debt Restructuring: To ease financial strain and increase cash flow, think about reorganizing
current debt commitments. Refinancing debt at a reduced interest rate, deferring payments, or
negotiating better terms with creditors—like interest waivers or payment deferrals—may all be
necessary to achieve this.

Employee Management: Take action to reduce expenses and maximize the management of
human resources. This could entail putting in place short-term wage cuts, furloughs, or shortened
workdays in addition to providing early departure or voluntary retirement plans to save labor
costs. Companies can improve their liquidity position and deal more robustly and steadily with
COVID-19 or lockdown scenarios by putting these financial decisions into practice.
Question 4. Do you think that financial forecasts are needed at the time of preparing the
business plan and if yes, describe the key areas considered in developing financial
forecasts? If not, then describe in detail the reasons for not undertaking a financial forecast
at the time of preparing a business plan.

Yes, financial forecasts are essential parts of a business plan because they give stakeholders
insight into the proposed venture's sustainability and viability and act as a road map for the
company's financial performance.

Financial forecasts, which offer a roadmap for the business's financial performance over a given
period, usually one to five years, are crucial parts of an extensive business plan. Informed
strategic decisions, attracting potential investors or lenders, and evaluating the viability and
feasibility of a business idea are all aided by these forecasts for entrepreneurs and businesses.
Revenue forecasts, expense forecasts, cash flow analysis, and profitability estimates are
important factors considered when creating financial forecasts. Using pricing plans, sales
forecasts, and market research as a basis, revenue projections calculate expected sales income.
Operating costs like salaries, rent, utilities, marketing, and administrative costs are all included in
expense forecasts.

To ensure there is enough liquidity to meet operating needs and financial obligations, cash flow
analysis monitors the inflow and outflow of cash. Through the projection of gross margins,
operating profits, and net profits, profitability estimates evaluate the business's potential value.
To further evaluate the effects of different factors on the business's financial results, financial
forecasts may also incorporate sensitivity analysis and key performance indicators (KPIs).
Overall, financial forecasts help with resource allocation, strategic planning, and decision-
making by offering insightful information about the company's financial performance and health.