Pinky's Department Store Essay Example | Topics and Well Written Essays - 1500 words

Pinky's Department Store - Essay Example The business will be financed with  £ 100,000 by a sole proprietor and  £ 200,000 through a business loan from a bank. Sales are estimated to reach about  £ 52,000 average for the first and second year. A positive cash flow is projected at the end of the first year. Pinky Department Store shall offer products of various British Designers, from casual wear to formal wear, and to special attires depending on the season. As it caters mainly to women in their 20s and 30s who are already busy with their careers, it would present to this target market a wide array of choices in terms of clothing. It would offer practical get ups for the overly busy working women, and would carry stylish and fashionable ensembles as well. Pinky Department Store’s Target Market would primarily be working women in their early 20s to their late 40s, whose monthly salary range is from  £ 10,000 to  £ 50,000. They are the ones who appreciate trend and styles and would spend a considerable amount for nice clothing that would fit their lifestyle and their needs. They are the ones who would choose carefully the clothes they wear for work, for fun and for other daily activities. They are the ones who would watch for the latest trends in TVs and fashion magazines, and would have a know-how in terms of fashion. They have discriminating taste for fabrics and designs, and would not sacrifice quality for cost. 2. Market Knowledge – As a Retail Outlet, it is crucial for Pinky Department Store to be able to identify in particular the trends in the fashion industry to come up with a good mix in terms of its products. Being a retail store, its sole control over its products is the system by which each choice is made regarding the product lines. 3. Inventory Management – By identifying the right products to push, Pinky Department Store would be able to manage its Inventory by acquiring only those that are sellable and keeping in stock only those that may be disposed for a short