CHAPTER 1
EXECUTIVE SUMMARY
Value Proposition
Our value proposition that our customer value the most is by providing classic and multi-purpose bags. Our main product is the trio bag. The problems that it solved by our target market is facing are having a small capacity and limited pockets in their bags. Our trio bag has the solution for it because of its three pouches it will now have a larger capacity and it has pockets inside that will help women to organize their things easily. Our bag is multi-purpose because it can be convertible from sling bag to a clutch and it has a classic design that will complement every style of our target market.
Customer Segment
Our target market is Female between the ages of 15-24 years old that is teenagers
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Through bazaars we deliver our value proposition on the spot to the customer, which is classic and multi-purpose bags, also we incur a lot more cost because of the rent. In social media they can view our products and order online anytime they want at their most convenient time so they prefer most this channel, they can also evaluate our bags through the reviews of other customers who already bought our bag, and this is the most cost efficient because there’s no rent in selling online. In direct selling we sell to our friends on the spot this is the channel that we won’t frequently use because it is difficult to arrange the time of meet …show more content…
Online selling will benefit the customers to buy our product in a convenient way. Proper storage of bags will keep our bags safe.
Key resources
The storage space will serve as a resource for our products because this is where we will keep the bags for safety. The equipment like tables, chairs, racks and storage box are the resource for our bazaars because we will need these for displaying the products. Facebook and Instagram are the resources for our online selling we will post, promote, and inform our customer through these two social media. Calling cards, flyers, and tarpaulin are the resources for our promotion, we will be needing these to reach out to our customers.
Cost structure
Raw Materials, labor, rent in bazaars, and prototype of bags are the most important costs in our business model canvas because our price and the profitability of our business depends on it, and the continuous prototype will help us to improve our product. The most expensive resource is the equipment that will be used in bazaar the chairs, tables, racks, and storage box. The most expensive key activity is promotion in bazaars because we need to constantly give flyers, and calling cards to reach out to our
• Finance: Depending on how much the customised solution costs The benefits of each of the products/services to the user
CASE STUDY: You are the marketing manager for a chain of home-ware stores in Brisbane called Houzit. The marketing plan for the 15 Houzit stores was developed over 12 months ago and you are actively engaged in implementing the strategies to achieve the marketing objectives. Specifically, you are instigating those marketing activities that meet the marketing objectives of a 12% market share (up from 11%) and an increase in sales by 8.5% over last year’s result. No expansion stores are planned during this phase of consolidation and on average the stores achieved $24,680 per week for the year.
In 2008, 10 years after Zappos was established, the company sales grossed $1 billion. When the founder of the company began to sell its shoes online, the company became the leading online merchant in the world and started to grow at a fast pace and became very profitably. Further, the company had also extended the range of its product offerings in order to provide its customers different products along with enthusiasm from the employees to provide amazing service. Problem
HI, First, I think you did a great job overall on your final course project! Your informtion about Detroit was rigth on. This is also a very tough area to get people insured. It seem as though there are alot of problems with drugs and young pregnancies there. Your city's resources will hvae to take care of those who don't do it for themselves by getting insured.
Discounting our products may seem antithetical to increasing sales, but even offering a slight discount can make your products and services more attractive to a client. 3) Use Social Media to Your
Online shopping has become more and more popular over the years, and studies show that it will only get bigger as time goes on. Online shopping is popular because one doesn’t have to leave home to buy it, it’s fast and easy, and products get shipped to the front door. Another big marketing tool used on the internet is the stock market. Online stock marketing makes begin apart of the stock market much easier and efficient. Online banking is another reason why marketing on the internet is so cool.
Therefore, their anticipated budget will be $120000 million dollars. This in turn will affects the raw materials budget because they need to buy components which is sufficient to manufacture 3 million bikes and obviously a little more to be in safer position. Based on their sales budget, they would be allocating resources and making sure that there is no wastage of resources. In the same way, Sales budget will affect the other budget too. If the level of sales is high, Raw material Requirement will also be high which in turn will require more labor to process and manufacture this product.
Second, it would be useful to know the expected labor cost to meet the production requirements. This information establishes the resource
Largely, the entry of the company into the distribution channels has limited the threat of major or powerful suppliers. The company has created its own retail stores and online web marketing. This approach aims at capturing the consumers that would want to order the product directly from the manufacturer. In fact, the online marketing model does not only enable the firm to sell directly to the respective consumer, but also enables the firm to identify the unique needs of the consumers. The direct link between the consumers and the company is critical to continuous growth of the company.
Their target customers are young people in all kinds of education levels, religions, race and nationality. The occupation of their target customers could be very wide but mainly are sports player and athletics. It is because athletics are more rapidly to use sports products than other people. Their target customers are from different generations: Generation X, Generation Y. Psychographic Their target customers are people who care more about the utility and quality of the product than the price.
This is the comparison of the benefits offered by a company's product to its customers relative to the price it asks customers to pay. To do this, companies can influence the value proposition in one of two ways mainly. This can be done through long term brand building. They can also offer a relatively low cost to enhance value. Ultimately, the key is that customers perceive that the product's merits exceedingly justify its price.
Growing the industry awareness and positioning the product is the primary promotional focus at this stage. For
There are different types of bag that can be a substitute for our product and some of these are backpacks, tote bags, pouch, and handbag. There are also a lot of other international and local brands that have already established their brand in the bag industry and offer the same type of bag. Having a lot of substitute products and competitors increase threat of substitutes since it gives the customers a lot of options to choose from. The different types of bags mentioned earlier offers a similar function with a sling bag. In general, a bag’s purpose is to carry and hold things.
This includes drive time to the stores locations, time to wait sellers bring products for us to take home and the time to check out. On the other hand, online shopping cuts out the time spent on transportation and walking from store to store. Comparing prices is faster online. Some websites, such as Lazada or Zalora, allow shoppers to compare product cost and customer satisfaction. Unlike shopping at stores, you do not have to wait in a line or wait till the shop assistant is ready to help you with your purchases.
Companies to cater to customers in the most effective manner were forming various strategies. To attract new and engage the old customers, development of mobile applications, websites, and campaigns on social networking sites are some initiatives companies are adopting. The global luxury goods market is categorized by large number of mergers and attainments, thus making it favorably consolidated in the near future. The global luxury goods market is expected to grow moderately over the