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Business Studies on Strategic Plan

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Business Studies on Strategic Plan

MKT 228 Milestone One Guidelines and Rubric

Overview: Milestone One establishes the context of the final project by developing a business plan. To begin the final project, you will complete Milestone One by making the preproduction business decisions for a fictitious fashion brand and a fashion apparel product of your choice.

According to the textbook Beyond Design: The Synergy of Apparel Product Development, fashion and retail brands define their corporate structures based on the business functions. Retailers deliver products and product categories, distribution channels, brands, and geographic reach defined by their businesses strategic plan. In today’s marketplace, the success of a business depends on developing and implementing a strategic plan that provides focus for all activities of the firm. The strategic plan is based on the mission, vision, and values of the firm.

The strategic plan helps a business position its product in the marketplace via product attributes and pricing. Branding helps a firm communicate its message to the target customer. Once positioned, a product line must always be cognizant of the competition. The goal is to choose a strategy by which your brand can compete for market share successfully.

Prompt: Develop a business plan for the fictitious brand of your choice by determining the following:

  1. Identify the mission, vision, and values of the fictitious
  2. Select a specific men’s, women’s, or children’s apparel product category that will be
  3. Select the price-point category that will be followed and its relevance for the target
  4. Select the size range(s) that will be
  5. Identify specific technologies that you would use to enhance the fashion product and the competitive advantage they woul

Rubric

Guidelines for Submission: Milestone One should be 1 to 2 pages in length (references) with double spacing, 12-point Times New Roman font, one-inch margins, and appropriate reliable and scholarly citations. Cite at least three resources for this submission.

Critical Elements

Proficient (100%)

Needs Improvement (75%)

Not Evident (0%)

Value

Mission, Vision, and

Values

Identifies the mission, vision, and values

of the fictitious brand

Does not clearly identify the mission,

vision, and values of the fictitious brand

Does not identify the mission, vision,

and values of the fictitious brand

25

Product Category

Identifies the apparel product category to be produced or developed

Does not clearly identify product category or lacks proper application of

retail terminology

Does not identify a product category

15

Price Point Category

Indicates the price-point category to be followed and describes the relevance for the target customer

Does not clearly indicate the price-point category to be followed, or the

relevance for the target customer is absent

Does not indicate the price-point category to be followed

10

 

Critical Elements

Proficient (100%)

Needs Improvement (75%)

Not Evident (0%)

Value

Size Range(s)

Provides detailed information on the

size range(s) that will be produced

Explains the size range(s) that will be

produced but lacks clarity and detail

Does not include the size range(s)

10

Specific Technologies

Identifies the specific technologies used and the competitive advantage it

provides

Identifies the specific technologies to be used, but does not sufficiently explain

the competitive advantage provided

Does not include the specific technologies and competitive advantage

30

Articulation of Response

Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a

professional and easy-to-read format

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact

readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding

of ideas

10

Total

100%

 

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