Assignment 29A – Venture Concept No. 2

Assignment 29A – Venture Concept No. 2

Opportunity:

• Many women around the world are discriminated and even ashamed for their gender. Discrimination and gender inequality are still a reality in our society.
• Sexual harassment, cat calling, and body shaming are still present. Therefore, I believe there is a need to empower women and make them feel secure with their own bodies through clothes. My products would have messages that empower and represent each woman individually. Moreover, it would break with gender stereotypes and will accommodate to different sizes.
• Not only that, but my product would be also helping women who are rural and live in poor conditions. I would be reinvesting the profits into society by creating jobs for single mom families. In Peru, seven out of a hundred moms are single. Moreover, they constantly suffer from discrimination and racism when looking for job opportunities. 
• The forces that allow this to occur are the discrimination against single moms, gender inequality, and the fact that many women need to be empowered to create a change. Thus, the window of opportunity is open until all of the factors I mentioned are resolved.
• There is no satisfactory resolution to this need yet. Many women still feel unsafe and are stereotyped by gender roles. Moreover, single moms do not have the same opportunities as others. Many of my interviewees reported that they believe my idea is great because of the social cause, which is ultimately to help women. There is a change that needs to happen and my product advocates for that change, there is no easy solution for gender inequality; however, if my product could at least potentially show women how valuable they are then there is a bigger chance to promote my social cause and goal.
• Potential customers: women (majority being women, aged 14-35) who share the ideology of the brand and actually care in helping women, even if they are in a different country. Women who want to feel empowered and want to show their ideology through clothes.

• Innovation:
• My product wants to offer the best quality for every customer. However, that does not mean my product would not be affordable. I plan to create an affordable retail business that will not only help the consumer’s pocket but also single moms from Peru.
• I would also create a clothing line that would glorify one of the native languages from Peru, quechua. This would help my consumers understand better the background of the business and actually connect with the single moms that our company helps. Moreover, in Peru, this would help end the stigmatization behind anything that has to do with our native ancestries.
• Venture Concept: 
• I think individuals would buy my product if they have suffered from some kind of violence, maybe not personally but also violence they have witnessed or read about in the news. Gender inequality is really common, and personally I have not known any woman who has not suffered from harassment or “catcalling” during their life. There is a need to empower these women and even more to those women who do not have the same opportunities as others.
• Businesses will buy my product to demonstrate they care about the current situation of gender inequality. Moreover, since my product would be inspired by native cultures and languages, these businesses would also be able to show that they care and respect diversity from its different aspects. Consumers are more aware of what companies do and it is easier to find out their social cause; therefore, the increasing concern with social responsibility would help these companies increase their sales. Consumers care and supporting a social cause would be a great incentive for them.
• I believe consumers would switch for my product because there is an increasing concern for what is ethical and responsible. Consumers do not only look at prices anymore, but they also try to buy products according to their values and ethics. Moreover, there are no other companies who are currently selling clothes that are inspired in native cultures and are also worried about single mom families. This brand is about helping women from different parts of the world and consumers would appreciate that. Businesses and individuals would be selling individualistic clothes but also advocating for ethical and responsible shopping.
• My product would be primarily distributed online, and the price ranges would be affordable for college students and young adults. The first sales would be made to college students who advocate for the same as the brand. Moreover, there would be discounts for greater sales. For every sale made, I would send an individualized gift that would make the purchase an experience.
• My company is built upon helping and caring for others; therefore, my customer service has to reflect that. Every single customer deserves to be treated with respect and of course honesty.
• The packaging would have messages that inspire women to be and do whatever they want. It is all about providing an experience more than just a product. Every purchase needs to be individualized and make our consumers feel as special as they are. It would maybe show some pictures of the single moms you are helping and of course the brand name would be there as well.
• I believe my employees would be around 15 to begin with. My product would be sent online which is why I do not need many workers to start with. I would most likely need a consumer behavior researcher, a web designer, a fashion designer, marketers, graphic designers for my packages, and of course my textile producers.

·         Unfair advantage: I believe I have the right connections in the retail world. Moreover, I know what the processes are when producing clothes and I also know where I could find the best fabrics for my line.

·         What’s next: I want to create a business that can be ethical and fashionable at the same time. Consumers would understand the importance of helping each other and stop the stigmatization behind feminism.

·         For Me: I believe women’ issues are not easy to solve and personally I want to create this business to make an impact in many women’s life. In five years, I hope to start producing and targeting my market. Additionally, in 10 years, I want to have different clothing lines that inspire not only women but also minorities. We all deserve to have the same opportunities, and my goal is to create a big impact in this society.

Feedback:

• Focus on creating a successful distribution plan.
• Use an outlier to organize your ideas.
• Make sure to market products that would be affordable.
• Analyze and study competition.
• Be more specific about your product distribution in Peru and US.
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How I’ll Adapt:

• I need to understand how to export and import products, I believe this could be easier with an online store.
• I used bullet points and stated my ideas in order.
• After interviewing students, who will be my main target market, I understood that price is an important factor to succeed.
• There are many retail stores in the US and Peru, understanding the big retail stores and maybe copying their good attributes could help an starting business.