Modish Business Report - Assignment Solution

Introduction

Modish is an USA based online start-up that has been initiated by a small group of university students in September, 2019. The company started with the prime objective of filling in the market gap of an innovative and creative customized shoe range. Furthermore, the company owners decided to use denim as the main raw-material for shoe manufacturing. These decisions were taken after carrying out extensive market research regarding the custom shoe market and the usage of Denim. The increased penetration of e-commerce, rapidly evolving fashion fads and the emergence of improved internet infrastructure has broadened the scope of the custom shoe market and has portrayed this as the newly emerging fashion trend (Marketers Media, 2018). Moroever, it had been asserted that the denim market is expected to observe the fastest CAGR of around 10% during the years 2018-2023 (Research and Markets, 2019). Hence, the usage of Denim in this customized footwear range was seen as wise decision. Considering all these aspects of research, it was decided that the company will primarily invest in 1 type of denim footwear which included the denim slippers. 

Vision

To make comfortable and customized shoes accessible to everyone. 

Mission

To continuously adapt to changes in the environment, to fulfill the clientele needs and desires while ensuring sustainability.

Values

• • Sustainable Innovation

• Loyalty and Integrity

• Creativity 
• Positive Impact

Target Market

Based on our research and segmentation, our target group would be:

• Males and females of ages between 18 to 29 years (Cunst, 2019); (Cunst, Statista, 2019)
• Consumers who want a personal touch to everything and like customized things.
• Consumers looking for elegant, stylish and comfortable shoes at a reasonable price (Sporn & Tuttle, 2018)
• Consumers who are aware of online shopping and prefer shopping from home through internet (Cement, 2019)