Postgraduate Institute of Management

Postgraduate Diploma in Management

507 Entrepreneurship and Innovation

Individual Assignment

The Product – Non-Ironing Cloths

Business Name – SNS Wear

Business Type – Partnership

LOGO
BRIEF INTRODUCTION OF
THE
CHOSEN BUSINESS
 Easy to wear and care for, the non-iron clothes have become the essential foundation for every
business outfit, saving precious minutes in the morning and helping you look your best day to
night.

 Especially non-iron shirts having a busy market that we could complete in a passionate way.

 Our target market is busy women and men with various responsibilities.

 Our value preposition is save customer time and reduce electricity bills as well as promoting
a unique designs for customers.

Value Proposition
Gains (Advantages):

 Wrinkle-Resistance: Non-iron fabric garments offer excellent wrinkle resistance, maintaining a

neat and polished appearance without the need for ironing or steaming.

 Time and Effort Savings: These garments save time and effort by eliminating the need for ironing
or extensive care, making them convenient for daily wear.

 Travel-Friendly: Non-iron clothing is ideal for travelers since it can be packed without worrying
about wrinkles, making it a convenient choice for trips.

 Neat Appearance: These garments ensure a professional and well-groomed appearance

throughout the day, suitable for office settings and formal occasions.
  Durability: Non-iron garments can withstand more wear and tear before showing signs of wear
due to their wrinkle-resistant properties.

 Consistency: These garments maintain a consistent appearance throughout the day, even with
prolonged activity or sitting, ensuring a polished look.

Pains (Disadvantages):

 Chemical Treatment: Non-iron fabrics are treated with chemicals like formaldehyde, which can
potentially cause skin irritation or respiratory issues in sensitive individuals.

 Environmental Impact: The production and treatment of non-iron fabrics involve harmful
chemicals and energy-intensive processes, contributing to pollution and increased energy
consumption.

 Reduced Breathability: Chemical treatments can reduce the breathability of non-iron fabrics,
making them less comfortable in hot and humid conditions.

 Shorter Lifespan: Non-iron treatments can weaken fabric fibers over time, potentially leading to
a shorter garment lifespan compared to natural fabrics.

 Higher Cost: Non-iron garments tend to be more expensive due to the additional processing
involved in their production.

Business Prospect
Identified
 Market Demand – Niche Market

 Consumer Trends
 Competition

 Sustainability

Innovation
Appetitive (Risk)
 Chemical Sensitivity: Some people may be sensitive or allergic to the chemicals used in non-iron
treatments. This can lead to skin irritation or allergic reactions when wearing these garments.

 Environmental Concerns: The production and treatment of non-iron fabrics often involve the
use of chemicals and energy-intensive processes, which can have negative environmental
impacts, contributing to pollution and increased energy consumption.

 Higher Cost: Non-iron garments tend to be more expensive than their traditional counterparts
due to the additional processing involved in making them wrinkle-resistant.

Stakeholder
(Customer)
Activities
 A company in the fashion industry has to deal with a myriad of stakeholders who all have an
impact on the company: trade organizations, suppliers, sponsors, buyers and distributors,
partners etc. Transparency, communication and collaboration with these stakeholders are
important for a company to grow and succeed

Competitive
Dynamics
 Consumer Preferences: Consumer preferences play a significant role in shaping the competitive
landscape. Some consumers prioritize convenience and wrinkle resistance, while others may
prioritize natural fibers and eco-friendliness. Companies need to stay attuned to changing
consumer preferences.

 Pricing Strategies: Pricing is a critical aspect of competition. Companies may adopt various
pricing strategies, such as offering premium non-iron garments at higher prices or competing on
price to appeal to budget-conscious consumers.

 Product Innovation: Competition in this industry is driven by continuous product innovation.

Companies invest in research and development to create new fabric blends, technologies, and
treatment methods that offer improved comfort, durability, and wrinkle resistance

Revenue Schemes
 Generate Revenue through online channels (Facebook, Instagram, Daraz)

 Celebrity endorsement on social media channels

 Implementing a digital media platform ( Websites)

Cost Schemes
 Allocate the initial capital of one million for production and marketing cost

 This capital will be used on brand reputation, purchase of quality materials.

Human Resource
Activities
 Recruiting and Staffing

 Training and Development

 Performance Management

 Compensation and Benefits

 Legal Compliance
Institutional
Leverage
 Getting fashion marketing and apparel consultation in (GIMI) Garment Industry Management
Institute.

Proposed Strategy
 Product innovation quality - Invest in research and development to improve to non-iron
technology and focus on high-quality fabrics.

 Creating Awareness About the Product among People Sustainability & Eco Friendly

 Brand Building & Marketing – Unique selling proposition digital presence

 Customer Engagement

 Implementing Seasonal Offers & Promotions

Business Model
Analysis
Comfort & Style Quality Assurance

Fashion Designers
Celebrities
High-End Businessmen

Through Social media Channels

The target market is busy men and women and helping to economy on power saving
Proposed BM
Innovation
06. Revenue Scheme 05. Competitive Dynamic

Generate revenue through online channels Emphasize Unique Designs, Premium brand
image to high-end customers
(Facebook, Instagram, Daraz and celebrity
endorsement in social media)

08. Human 02. Value Prepositions 04.

Resources Activity Save customer’s time and reduce electricity charges, Stakeholder’s
Unique Designs Activities

Production,
Packing, 01. Business Prospect Digital Marketing
Distribution. SME Prospects Direct B2C
(Initially doing by “NON-IRON CLOTHES” (Online Orders)
partners)
Power Saving
Busy Persons

03. Innovation Appetite.

Risk: New Product to the existing market.

Mitigation: Electricity Power Saving

07. Cost Scheme 09. Institutional Leverage

Allocate the initial investment of Getting fashion marketing and apparel

Rs.1,000,000.00 for business setup, productions consultation in (GIMI) garment industry
and marketing costs. management institute.
Market Analysis
Justification
 The Ability to of several practical benefits to customers making them a valuable addition to once
wardrobe

 Time saving-these does not need to be streamed

 Cost saving-it less cost in dry cleaning the last long

 Travel friendly

Recommendations
 Understand the Fabric Treatment

 Check for Sustainability

 Feedback and Reviews