The company determined that the revenue streams will come from asset sales, e-commerce, direct selling, concept or specialty stores, Product rentals, and Revenue from Daily deals, flash sales and Discounts
The Palette Studio caters bags and apparel to the market. The sales of the company’s bags, apparel and fashion accessories they sell will drive the company on gaining revenue. It was determined that the company will mostly gain profit from the sales of their physical products.
The Palette Studio is an online-based brand. The venture’s day-to-day transactions will revolve online. With their own website, The Palette Studio can connect and reach a large number of audience. Through advertisements…show more content… The Philippine-based venture’s target audience are the centennials, who are 17-20 years old, and millennials, who are 21-25 years old. The brand will offer fashion pieces for both gender. Since the company’s target market are inclined with technology nowadays, the company decides to have its operations online. In 2017, The Palette Studio will start its business operations. Also, the brand will release its first collection next year. They plan to offer 2 products, a backpack and a tote bag, that both men and women can use. The bags that will be offered aims to give style, functionality and comfort to its users. In able to give a clean and minimal look of the bag, the design team of the company plans to use Vegan Leather and Canvas textile on their bags. The company assures that the materials that will be used are in great quality and durable. In order for the company to fulfill its business goals, some of the company’s key results area are determined as to be the number of sales per design per month, the number of customers who buys per month, the number of positive customer feed backs and such. The brand examined the expected market demand of both products, River backpack and the Summer Crossbody tote bag, and has concluded that the results from the river backpack has higher total market demand than that of the summer crossbody tote bag. The reason behind this is that the company’s target audience prefer backpacks than any other style of bags. Due to high demand for the river backpack, it was expected that the market demand for the summer crossbody tote bags is lower. One reason is that more women uses tote bag than men. Also, students finds it comfortable to use backpacks to