One way to make brick and mortar retail more relevant to today’s customers is through creating shopping experiences that make coming out to physical stores a fun experience within itself. Your objective is to create an in-store entertainment concept and a marketing plan for the launch at retailer of your choice.
1. Conduct research on the leading fashion retailers which use in-store entertainment to draw customers into their physical stores. Share a brief comparison of the various retailers you researched
2. Identify a retailer you believe would benefit from launching an in-store entertainment concept in their physical locations. Explain your choice and elaborate on the entertainment concept you are planning to launch. 3. Develop a launch plan for your concept. Consider the following: What product assortment changes, if any, will the retailer need to make in order to execute your idea? How will the digital channel support the in-store execution of your entertainment concept?
4. Develop a marketing campaign to promote your entertainment concept, considering what customer you are trying to attract.
5. Provide a concise six-month financial plan detailing expected sales, receipts, profit margin and inventory. Outline all the assumptions you made to project out your financials. Please provide on an exhibit of your financials in the appendix. 6. What are your plans to scale up if your entertainment concept is successful? What are you plans to maintain it? What are some of the challenges of scaling your idea? How would you tackle them? How quickly would you be able to expand while maintaining profitability? How often would you update your entrainment concept to ensure customers keep coming back?
