Read “An Introduction to Lean Canvas
Links to an external site.
” (Mullen 2016) [pdf
Choose a fashion brand or retailer (or create a new entrepreneurial one).
Develop a new to the market fashion offering, innovation, or retail concept (chapters 7 & 8)
Determine your SMART objectives (chapter 4) related to “What a Marketing Strategy Accomplishes”
Describe the following, in terms of a lean canvas (short overviews of each, but with research and notes supporting them):
Problem (top 3 consumer problems your target audience has) (chapters 7 & 8)
Solution (research the key features you should incorporate into your solution addressing the consumer problem) (chapters 7 & 8)
Customer Segments (research who your customers are) (see Chapter 6)
Unique Value Proposition (see chapter 1 on value proposition and marketing strategy)
Key metrics (see #4 above & Chapter 4)
You do NOT have to create a diagram of your lean canvas, but you will in Phase II.
The project in this class and section will emphasize the development of innovative ideas, versus incremental ones. Innovative ideas are new to the market and tend towards being disruptive or doing something in fashion that’s relevant and remarkable in its creation of value. Your assignment submission should be 1-2 pages maximum in length with notes (responses to directions #2-4 and notes about the items in #5) and references based on your research. Your notes should contain proper grammar, be free of spelling errors, and reflect critical thinking. Your notes are not expected to be in the form of a report, but short overviews of your lean canvas components (#5) based on your research. They may contain bullet points.
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