Case Study Of Eccentric Bags

CHAPTER 2

Market Potential

Eccentric Bags has different revenue streams, which could be a source of sales and profit. The Target Market of the organization would be Male and Female customers between the ages of 13 to 30. These target market could be High school and College students, Office Workers, and Commuters who may need a bag with features that will provide them convenience, as well as fashion style. The Organization could earn revenue by receiving sales from customers who bought the products online, through social media accounts (e.g. Instagram, Facebook), and sales earned through consignment or joining trade fairs regularly. Aside from this, the organization is also planning to rent a space for a physical store located within the vicinity

For the backpack, majority of the teen respondents uses backpack and 6% belongs to the adults. The percentage of teen and adult respondents who uses sling bag is 47% and 53% respectively. The percentage of female users for backpack is 59% and 53% for sling bag and the percentage of male users for backpack and sling bag is 41% and 47% respectively. Most users of the backpack are students which is 92% of the respondents because it is very convenient for bringing the books and other materials needed for school. On the other hand, the users of sling bags are mostly professionals which are 59% of the respondents because compact bags are more convenient for office purposes. The respondents also had different reasons in purchasing a new bag. Majority of the bag users which comprises 51% of backpack users and 47% of sling bag users purchase new bags due to the condition of the bag over time. Second, 23% of backpack users and 29% of slingbag users purchase bag because of the need for a larger carrying space. Third, 22% of backpack users and 18% of sling bag users purchase bag because of several instances such as the preference of having different bags. Lastly, 4% of backpack users and 6% of sling bag users purchase bag for following fashion trends and not for day to day purposes. There are a lot of online retail store who sells backpacks and sling bags. However, there are only 12% of the backpack users purchase bag online and none of the sling bag users purchase online due to the limited products offered online. We determined that 53% of backpack and sling bag users are willing to pay as much as 701-800 pesos for a bag. At the least 14% of backpack users and 6% sling bag users are willing to pay 601-700. Users are more willing to pay higher price for a high quality bag than purchasing lower price bags for a low quality