BUSINESS PLAN

Business Plan: Bonobo



Executive Summary

In present world, where the entrepreneurial business venture is considered as a new trend to obtaining status and wealth, a lot of new ventures have been launched every now and then. However, only few businesses are capable of sustaining their position in the cutthroat competitive market. In this paper, we will discuss the business plan for expansion of famous retail brand Bonobos with significant details.

The key purpose of this report is the discussion of marketing strategies for the expansion of market of Bonobos in UK in a holistic manner. At present, the concept of globalisation is in vogue. This phenomenon of globalisation put forward the recommendation to the ventures for expansion of their business and for searching the better opportunities internationally.

To attain the objectives of this report, several sub-goals are there that would contribute to obtain the main aim of the paper. This sub-goal covers the study of internal and external environment together with some recommendations that will make the organisation able to attain the benefits after the implementation f these recommendations.

Executive Summaryi

Introduction1

Background1

Objectives1

Situational Analysis2

Business Operations2

Target Segment2

Geographical Location3

Industry Analysis3

Porter Five Forces Analysis5

Bargaining Power of Buyers5

Bargaining Power of Suppliers5

Threats of New Entrants6

Threats of Substitutes6

Rivalry among Competitors6

Customer Analysis7

Analysis of Legal environment of UK7

Marketing Plan8

Marketing Objectives8

Sales Objectives8

Marketing Mix8

Product9

Place9

Price9

Promotion9

1.TV Advertisements10

2.Publication10

3.Radio10

4.Transit: Bus Stop, Billboards, Subway10

5.Social Media10

6.Sponsoring Events11

Implementation and Control11

Contingency Plan12

Financial Plan13

Budgeting13

Return on Investment14

Human Resource Management Plan15

Conclusion16

References17

Business Plan

Introduction

Bonobos is an American organisation which conducts the business of clothing and accessories for men. There are several products that are offered by Bonobos to its male customers who prefer shopping online. Bonobos is an e-tailer that provides its products online.

Background

Bonobos is owned by two entrepreneurs, named as Andy Dunn and Brain Spaly. At the beginning, Bonobos only offered pants to male customers. Their USP was the comfortable fitting, on the basis of which they created a difference among their competitors. They registered two years of success, the organisation realised the wants and requirements of their customers. Eventually Bonobos added more products under the umbrella of their brand names, so as to meet the needs and wants of their customers (Barney & Hesterly, 2010, pp. 43-49).

In addition, Bonobos started a new service; they included the products of other brands and offered their service of fitting to their customers. Moreover, it can be said that Bonobos solved the men's problem of pant fitting.

Objectives

The key objective of Bonobos is the achievement of steady profitability and growth. For the attainment of this goal, the marketing plane will play a crucial role. It is the concept that results in the identification of the factors of growth from new markets and new customers.

Situational Analysis

In following sections, the paper discusses the situational analysis for expansion of business of Bonobos in the market of United Kingdom.

Business Operations

The business operations of Bonodos are explained in the following figure

Target Segment

Bonobos will target both the youth and middle age people in the United Kingdom market. They will include school going kids to student of universities and college ...