In this Phase IV, you will focus on benefits and the compensation budget. 1.) What benefits will be offered with the company plan? Describe the benefits that will be offered. This should include details on the plan. 2.) Develop a budget and projection for total compensation for five years. Project the costs for each program included in your plan for all phases in the project. Create a chart for the budget and the projection for five years. Compensation budget accurately includes all items in the compensation project. 3.) Consider your percentage of sales for the organization in year one through year five. You are not required to project the company sales volume. Will the company be able to maintain the sales increases to support your proposed pay increases annually? PHASE I- A THEME FOR THE ORGANIZATION THE BUSINESS The name of the business is D??cor and More where my style is your style. A store that concentrates in modifying all the little things that make a house a home such a mail boxes, welcome signs, yard flags, monogrammed throw pillows and bedding, baby blankets, glass etching, and all the other little things that make a home. Therefore, our retail store provides a service to our customers in customizing mailboxes, welcome signs, among many others. Therefore, we sell these products and provide a service to our customers. We offer our products and services in store and online. ORGANIZATION It is a custom retail shop with mail order offering customized home goods like welcome signs, monogrammed towels and sheets, and similar homey crafty things. Our employees will include managers, artists, retail, and customer service specialists. This environment is diverse and requires different skill sets. The location for our company will be in New York City in a storefront on the Upper East Side of Manhattan. This targets our mid and high-end customers and gets our products in one of the nations trendiest fashion capitals. It will be what everyone is talking about in the city The theme of our company is ?little something extr to make common home goods more personal by providing quality wares with excellent customer care. The company is providing more for customers by personalizing the products they purchase from us. This gives us a niche in our target market. We will target our services to special events and occasions including weddings, birthdays, and Mothers Day, to take advantage of the demographics of a large metropolis. ?Large metropolis is a large city or urban area which is a significant economic, political, and cultural center for a country or region, and an important hub for regional or international connections, commerce, and communications. Our target market is young adults to older adults would buy our products and want our services. This would be a local business in a high volume market that caters to mid to high-end customers (McMillan, 2002. The main location will consist of a storefront and warehouse to quickly fulfill our customers needs. The customization facility is a separate part of the main facility. Additional exposure will be via kiosks, similar to those located at suburban malls. The storefront and warehouse are what a lot of retail companies have in businesses today based on evolving shopping preferences. ADVERTISING PLATFORMS We will have a web page and will advertise on social media sites such as Facebook and Twitter. Our sales reps will spend time in our kiosks at all our locations to sell our products and services to understand what our customers want and how they want it. There will also be a portable booth/kiosk that will travel to craft shows, and local events to offer samples of our products and the services we offer, as well as solicit feedback. We are driving towards a luxury good. To go after a mid and high-end customer, we will stick to a higher end venue. We will have high-end craft fairs that feature artisans and their works (T??htinen, 2005). We have the potential to reach a lot more of our target customers this way. HOW DO WE ADVERTISE THE MAIL ORDER OPTION? We advertise mail orders through our website. We give people who view our website an option to receive a free printed catalog in addition to our online catalog, to view the products and services we offer (Belch & Belch, 2003). Mail order offers our customers a wide array of products and services which they can order from the convenience of anywhere they are, including their own home. Magazine subscription sales represent the largest segment of mail order sales, while books and newspapers also account for a significant portion of mail-order business. We will provide our customers with a toll free number to order our products and consider special offers for our customers that purchase in bulk. We will also provide generous by industry standards return and refund policies.
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