Developing a Business

Model

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Steps Recommended in
Establishing
the
Right Business Model

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• Size the value of the solutions in
the target segment

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Decide what is going to be brand.
Is it branding a product, a service,
a company or an individual.

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Do the Research

 First find out everything there

is to know about the market.
Then find out everything there
is to know about the product or
service.

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Position the Product or Service

 Find and win a place for the

offering in the market place and in
consumers minds by providing
unique solutions to problems or
needs that aren’t already being
addressed by competing products.

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 Write the brand definition

Describes what is to be offered,

why it is offered,
how the offering is different and better
what unique benefits the customers can
count on,
and what promise or set of promises will
make all who work with and buy from the
business.

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Develop the name, logo and
tagline
The name is the key that
unlocks the brand image in the
consumers mind.
The logo is the brandmark or
symbol that serves as the face of
the brand.
The tagline is the memorable
phrase that provides consumers
with a quick indication of the
product, brand and market
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Launch the brand

The brand goes public when

the name, logo and slogan is
unveiled, and when it begins to
tell the market the story of
how the brand reflects what is
stands for

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Manage, Leverage, and Protect
the brand

This is the “care and

feeding” phase of the
branding process; it’s the
step that leads to a strong,
healthy, resilient brand.
Just like good parenting,
good branding
management can be
summed up in a single
word - CONSISTENCY
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Realign the brand to keep it
Current

Occasionally, it can (and

should) change how the brand
is presented. From time to time,
there is a need to update the
brand presentation (The face of
the brand) to keep it relevant to
the market in which it lives.

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Personal selling

PERSONALIZED,
TWO-WAY
COMMUNICATION
with a customer in the
process of exchanging
merchandise for
money or credit.

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Personal Selling
Major form of promotion
Very expensive because it
requires individuals to make
contact with potential customers
Designed to complete the sale
once a customer has been
attracted to a business by
advertising, visual
merchandising, publicity/public
relations, or special events

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Publicity

NEWSWORTHY
INFORMATION
about a company,
product, or person
placed in the media
AT NO CHARGE
with the purpose of
creating a desired
image.

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Free
Carried by mass media. Mass media are those
instruments of communication designed to reach
the mass of the people.
Must be newsworthy to earn media space and
time
Must be timely, have local interest, and appeal
to medium’s audience
Seems more credible to consumers than
advertising
Company has little control over content of
message or how it is presented to the public
Can have a good or bad result
Helps make styles, manufacturers, retailers,
trends, or designers better known to the public

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A written news story sent as
publicity to a newspaper or
magazine.

Used to create public

awareness of store openings, civic
events at store locations, or
announce employee promotions
Used to create a positive image
and awareness about a company,
designer, or product

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Promotional information
packages that contain press
releases and photographs.

Help create awareness of

products or designers’ latest
fashions and apparel items
Serve as free advertising for
the business if pictures are
published by the media

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Activities designed to build
positive relations with the
customers, employees, and
the community.

Participation in community
programs
Effective PR can help build a
positive image for a company, but
cannot cover up bad news.

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Visual merchandising
Attractive and appealing physical
display of merchandise combined
with effective store layout and
décor.
Entices customers to enter the
store
Enhances store image
Effectively presents the
merchandise that the store has to
offer
Shows customers how to wear
and accessorize merchandise

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Special events
Promotional activities
designed to increase
customer traffic, sell goods,
and improve company
image.
Fashion shows
Trunk shows
Special sales
Celebrity appearances

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Coordinating the promotional mix
elements
Most businesses rely on more
than one form of promotion to
achieve promotional goals.
The promotional mix is based on
product characteristics and the
existing market for the product.
The promotional mix changes
over time, just as products and
consumers change.

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Coordinating the promotional mix
elements (cont.)
Each promotional activity should
be designed to complement the
other types of promotion being used
by the business.
National advertising should be
coordinated with local promotional
activities.
Sales staff should be informed of
promotional activities taking place.

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Promotional approaches during the
fashion cycle…
Introduction. Promotion is used
to introduce trends and create
interest in new merchandise.
Rise. Promotion is used to
motivate customers and increase
desire for merchandise.
Peak. Promotion is used to
persuade consumers that the
business’s version of a product is
best and why.
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Promotional approaches during the
fashion cycle… (cont.)
Decline. Promotion is
designed to gain customers’
loyalty with reduced prices and
reinforce their choice.
Obsolescence. Promotion is
used to emphasize large
markdowns.

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