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By: Ayush Goyal(2011MB0001) Prachee Parwanee(2011MB0003) Madhurendra Kumar(2011MB0005) Lopa
Summary
Two university graduates have an idea of
bean bag business. Vision to make high quality bean bag chair. Want to make it available to students at comparatively cheaper prices. For the same trying to make a marketing plan.
Key facts
Bean bag are flexible, easy to move and comfortable. Targeted customer i.e. students can be
categorised into two groups: freshmen and upperclassmen. 70% of students live in on campus residences and a small bean bag chair may not be an attractive options for them The popular perception for bean bag is that it is sloppy, poorly made and not attractive.
Contd..
The material and design is the key factor for
Contd..
Due to high fixed cost they have decided to sell the chairs unstuffed.
They want to make money devoting minimal
time. They have decided to produce to order than stocking. Promotion is critical for this business. There are opportunities to sell the product to other university students.
Case problem
Lee and Michael want to design a furniture product for university students i.e. bean bag chairs which is attractive, durable and of high quality which can break the so called perception that bean bag chairs are sloppy, poorly made and not attractive and make it available at fairly cheaper price so that it can be affordable for students.
Target Customer
Freshmen
staying at on campus residents. have to be convinced that beanbag can be a good
furniture alternative.
Product
Design Ball shaped: Advantages: Easy to make, least cost, disadvantages: not stylish, not flexible, one sitting position Pear shape: Advantages: sophisticated, comfortable and three ways of sitting Disadvantages: more waste material, difficult to make L-shape: Advantages: small, takes less space Disadvantages: difficult to sew and one sitting position
Contd
Material:
Leather:
Rolled: lower quality, minimize waste in production Skin: high quality, durable but expensive.
and durable. Fabric (velour\cotton\canvas): limitless choice of colour and pattern, not easily cleaned.
Distribution
Selling to local furniture stores. Selling to campus outlet Selling directly to students
Promotion
Orientation for freshmen Word of mouth Advertisement
Suggested solution:
Raw material: Vinyl should be used. Design: pear shaped Distribution: directly to students Promotion through orientation, word of mouth, radio advertisement(ciqm103.1 fm, evening sat /sun for 30 sec) So total product cost: 94 Mark up: 100% Selling price: $188+ $8( freight charges)=$196 Competitor( toronto): $245-$299
SWOT ANALYSIS
Strengths
Easy to clean Variety of texture and colour Cost efficient Weakness: No brand image Less time Opportunity: Threats: Toronto Other furnitures Student lounge Corporate capabilities: refer page5
Growth opportunity
Possibilities for other
universities exits We choose the universities located along 401 Excluding toronto and york university.
Name
Galph University Waterloo University UOW Wilfren University
Windso University
7512