Our Topic/ Mission Statement: Product
(Company Name) Style2Pic
An application on your phone, and an extension on your computer/tablet which can be used to screenshot a photo/video and source where, and for what price the accessory, or clothing can be purchased from
The application will also have a built in outfit simulator program. To use it you would essentially photograph/scan your person and a Virtual Sim of yourself would be created within the app. With said Sim you can build and try on clothes from top designer brands or even independent startups by importing specific measurements and fitting styles from the retailer directly
The app itself will be totally free and would make the bulk of its revenue through advertisements and sponsor deals with brands that would create weekly or monthly feature deals which would essentially showcase the brands clothing/styles within the main screen of our application
Going forward revenue may also be generated through a subscription service that would pr
ovide remote purchasing and sourcing. (essentially the consumer would build their outfit/style purchase all the clothing from the application) and we the organization would purchase compile all the products and charge a flat shipping fee which would essentially save the customer money on shipping costs if they were to purchase the clothes independently from each retailer themself.
We would essentially follow a Costco type marketing strategy keeping our profit margins low but making the bulk of our return through membership fees, and our brand deals/advertisments
There is a lot of variability in what we can offer in the future aswell
Based on this product I have to do technology and cultural analysis:
Technology ? what technology issues could affect companies in our industry (existing technology that can affect any company in a similar industry)
Social/Cultural ? what social and cultural issues could affect companies in the industry our product fits into?
* the industry should be under fashion