Project Scoping Document: Vintage Boutique Clothing

Project Justification

One of the fastest-growing industries in the world is the fashion industry. Ahmad et al. (2020) say it contributes up to $1.5 trillion to the global market. The industry offers many opportunities for growth and profit-making due to its massive contribution to the global market. Being part of the industry, Vintage Boutique plays its role by buying and selling new and old clothing brands worldwide. The project’s justification is that, by developing a market plan, there will be an increase in brand awareness and customer engagement. The marketing plan will help in market search, market strategy development, and implementation of various marketing activities such as online campaigns. Vintage Boutique is evolving daily, and it has become so popular in recent years. Also, the project is justified because it will help Vintage Boutique capitalize on ever-growing trends in vintage clothing lines. Those consumers looking for a sustainable and ethical alternative to fashion will benefit from the project because it will provide an outstanding, high-quality shopping experience.

Scope Description

The scope of this project is to ensure the implementation of the developed Vintage Boutique market plan that will help improve brand awareness and customer engagement worldwide. The first step to be taken is to do market research. This will help identify the market target, note their buying behavior, preference, and the Boutique’s opportunity for growth. All these will involve analyzing all the existing data and market trends for Vintage Clothing and conducting thorough surveys. The plan will have more useful information about the target market and how they can be reached for engagement. This can be through social media or email marketing and events, as Campbell and Farrell (2020) report. Social media platforms such as Facebook, Twitter, Instagram, and skype will be used to share developed social media content and calendar. The event plan will involve planning things like Vintage Fashion Shows and influencer collaborations. Under the event plan, timeline, budget, and staffing requirements will be important factors.

Project Objectives

The objectives of this project are mandated to increase the Revenue and the sales of Vintage Boutique clothing by coming up with a market plan that will improve customer engagement and awareness of the brand. These objectives are as presented below:

1. Brand awareness- this will be achieved by developing and implementing a market plan. This marketing plan will show the outstanding nature and value of the Vintage Boutique Clothing Brand. This will include the quality, authenticity, and exclusivity of Vintage Products.
2. Customer Engagement- in any business, customer engagement with the brand is considered one of the important steps in marketing. The customers get to know more about the new product, ask questions about it and finally decide whether to purchase it or not. Customer engagement can take place on social media or by visiting the stores for window shopping (Obilo, Chefor & Saleh, 2021). Vintage Boutiques’ marketing plan will have strategies to increase the number of followers on their social media handles (Facebook, Twitter, and Instagram). The event planner will facilitate the in-person engagements by organizing fashion shows and pop-up shops.
3. Increasing sales and Revenue- sales and revenues are monitored before, during, and after all the marketing activities. This is always to determine whether there were any improvements (Farrell, 2020). The Vintage Boutique marketing plan will be adjusted to achieve the desired results if the outcomes are negative. Top of Form

Risks

The risks for the Vintage Boutique Marketing plan can be categorized into three. One of them is the source risk. This is the limited availability of funds, human labor, and other resources required in implementing the market plan. The project may demand more resources than what is available. This might lead to project failure. In any case, if there are insufficient resources, the proposed marketing plan may not be implemented effectively (Grier, 2020). Another risk is competition risk. The existence other Vintage brands like Nike, Adidas, and Reebok compete with Vintage Boutique Clothing. These competitors, at some point, offer the same products, and this affects the market shares and the profits for the BoutiqueBoutique. Another issue is that; the competitors may have established good relationships with the customers, making it hard for VBC to enter the market easily. Last but not least, there are customer base risks. Customers may lack enough information about VBC or even may lack interest in the brand as a whole. This means the company may spend more on marketing for nothing (Ahmad et al., 2020). This leads to total losses. To overcome these risks, Key et al. (2020) suggest that VBC must contact thorough market research to develop the best products that will get the attention of the masses.

Project Deliverables

The project will deliver the following:

1. The report of the market search: The report will contain VBC’s market trends and the customers’ preferences on how to outdo the competitors. This will help in developing a marketing plan that will address all the needs of the targeted customers.
2. The VBC Marketing Plan: This document will include the tactics that will be used to improve the VBC brand awareness and customer engagement. It will also have the budget and metrics for measuring success.
3. Online Campaign Plan: Customer engagement will be done through social Medea platforms like Twitter, Instagram, and Facebook. This will also include an Email Campaign plan with content frequency and timing of email communications to the target customers.
4. The Event Plan: this will include all the events organized to enhance in-person customer engagement with the products of VBC. The document will outline the name of the events, time, location, and date.
5. Evaluation Report: This document will measure the success of the activities (Marketing activities).

Criteria for Acceptance

The Criteria of Acceptance give the conditions that should be met by the VBC project in order to be considered successful. These criteria ensure that the project delivers the desired results. They include:

1. The marketing plan should be developed and implemented within the stipulated time frame. Any delays may result in missed opportunities and loss in Revenue, which may have a negative impact on VBC
2. All marketing activities should lead to more Brand awareness and Consumer Engagement.
3. Marketing Activities should result in more company sales and Revenue. This will determine the success of the project as a whole. To know if there is a positive change, there will be a need to track data sales before, during, and after the completion of the marketing plan.

Exclusions and Constraints

There are several items that can be excluded from the project. This is according to Grier (2020). They are as listed below:

1. Any Model change to VBC’s core business dealings will be excluded from the project.
2. Any change to VBC’s current products and services will also be excluded from the project.
3. Last but not least, any big or small change to the VBC’s infrastructure will be excluded from the project.

Assumptions

The project will have several assumptions. For example, VBC has loyal customers, the Boutique has the needed resources to implement the marketing plan, and the target market can be reached via social media platforms such as Facebook, Instagram, and Twitter. Also, the project assumes that Event Plan will help in the in-person engagement of the brand with the customers. It is assumed that the existing products of VBC do not need any changes. Any changes made to VBC’s infrastructure will not have any significant impact on the project.

Budget

The total budget for the project stands at $60 000. This budget will cater to all the activities, and some money will be left for emergencies. Budget allocation is as presented in the bale below.

Sign-off from Workplace Mentor Project Justification

I [Mentor’s Name] have gone through Vintage Boutique Clothing’s (VBC) project scoping document and approved it. The project proves its capabilities of improving the revenues and sales of VBC by developing a marketing plan. This marketing plan will create awareness of the VBC brand and enhance customer engagement. As noted in the document, the fashion industry is in constant evolution. This calls for more research by VBC stores to ensure they are updated on trends and customer preferences. The project goes hand in hand with VBC’s goals and objectives, which means it has what it takes to offer significant value to the business. I am confident that the Project Scoping Document is comprehensive and that the crew will deliver successful outcomes.

References

Ahmad, S., Miskon, S., Alabdan, R., & Tlili, I. (2020). Towards sustainable textile and apparel industry: Exploring the role of business intelligence systems in the era of industry 4.0. Sustainability, 12(7), 2632.

Campbell, C., & Farrell, J. R. (2020). More than meets the eye: The functional components underlying influencer marketing. Business horizons, 63(4), 469–479.

Grier, R. D. (2020). Vintage Fashion Line.

Key, T. M., Clark, T., Ferrell, O. C., Stewart, D. W., & Pitt, L. (2020). Marketing’s theoretical and conceptual value proposition: Opportunities to address marketing’s influence. AMS Review, pp. 10, 151–167.

Obilo, O. O., Chefor, E., & Saleh, A. (2021). Revisiting the consumer brand engagement concept. Journal of Business Research, 126, 634-643.