Interior Views offers a range of home decorator fabrics as well as complementary accessories and resources. It is nearing its fifth year in operation. This store is a destination store that offers fabrics specially designed for home decorators in widths up to 54 inches. With over 900 fabrics on display, and more than 10,000 sample fabric fabrics available for custom cutting, the store offers a wide selection of fabrics. As they make their purchasing decisions, customers can touch, feel, and then take the fabric home.
Interior Views has gained a lot of knowledge from the years that it has been in business. The market has changed over the years and Interior Views will need to make key decisions regarding the future 5-year lease. Now is the time to step back, look at the past, and attempt to set a strategic direction for the future. This is the principal purpose of the business planning. This plan will address the location, financing, product, and other issues that will determine the success of the business in the future.
Interior Views owns a local informational site, but has not given enough attention to it in order to understand its potential for marketing. This site is a collection of information but it does little to increase revenue or enhance the business’ image.
Market research indicates a specific and growing need in and beyond the local area for the products and services Interior Views offers in the local retail market it serves and there are indications that Web sales will play an increasing role in connecting customers with sellers. The most significant challenge is that the core target customer, women between the ages of 35 and 50, are some of the least likely of groups to shop on the Web. Shopping for decorator cloth presents another challenge.
Interior Views’ online marketing goal is to support its continued growth, profitability and sustainability through the effective implementation of this strategy. The online sales and marketing strategy will focus on reaching additional customers through the internet using an eBay website. This will allow the company to generate more revenue and attention. The Web target audiences will include the most Web-savvy young customers currently served by the store (women between 35 and 25 years old) or potential customers out of area who are already shopping online to purchase Interior Views products. To stand out from other Internet options, the eBay website will be focused on its selection, competitive pricing and customer service.
- Maintain a healthy monthly gross margin.
- Every business day, every month, make sales.
- You can achieve a modest annual growth rate in this year.
- eBay-based sales can increase revenues to $5,700 monthly by the end if the first year. After that, a 5% rate of growth is expected.
- In order to offer customers additional options, enhance “information channels” with existing customers.
- Use eBay/Web access to meet the needs of customers who are not located within the immediate area.
Interior Views LLC, a boutique for quality-conscious shoppers of decorator fabric and home accessories, is located in New York. The store is all about celebrating the home through the texture and color of fabric. The experience helps people to create a unique expression of their home. Interior Views encourages people imagine what could be and assists in making that vision a reality.
1.3 Keys to Success
These factors are the primary keys to the company’s success.
- High quality products sold with exceptional customer service
- Communicate with our customer base through continued use of the newsletter, postcards, and our website.
- Maintain gross margins greater than 45%
- To retain customers and encourage repeat purchases, as well as referrals,
- Generate additional sales to cover all expenses in support of the website as an individual profit center.