Business Plan-Business & Finance homework task
Hello Gorgeous
Phil’s draft:
Hello, Gorgeous! Doesn’t that just make you smile? Who doesn’t enjoy a nice compliment like that? They just make us feel good. Welcome to our presentation on our business plan for our company, Hello Gorgeous! We are a start-up company with a developing product line designed to boost every woman’s self esteem. Allow me to introduce our team: Ashley, Seven, and Ziyu. To start us off, Ashley will share our first product…
Hello Gorgeous
Ashley: Ladies, have you ever needed to see what you look like quickly while on the go, or feel like you have something stuck in your teeth and you just can’t slip away to the restroom? How about got tired of holding your phone or maybe you have dropped it on your face one too many times. Well we have a solution for you, can you say ‘Hello Gorgeous’? You can now do all these listed above and more with our ‘Hello Gorgeous’ pop socket.
Mission Statement:
For every woman to feel loved and see how beautiful she is no matter how busy her day is.
For every woman to feel gorgeous at every moment in her day.
Ashley & Phil
Keys to Success:
1. More function compares with our competitor
2. More attractive price
3. Customize choice
4. Easy to buy
5. Better design
Ziyu slide Also touch on how our buy is in China (Alibaba) and because you are Chinese this makes a great connection. You know the language and Culture, should make international business ideal.
Product:
‘Hello Gorgeous’ initial product is a mobile device accessory that serves as a collapsible grip, stand, and mirror! Our unique design includes a removable lid and more importantly, the inside of the lid has the uplifting words….
Hello Gorgeous
Hello Gorgeous
Phil:
AKA Popsocket
Women will read these words any time they remove the lid to look into the mirror.
How it Works:
Ashley
Mirror Functions:
To see how Gorgeous you are
Check your surroundings
Dental mirror
Baby toy (used as a distraction)
Magnifier (enhances the naked eye)
Source of Communication (use for flashes)
Ashley
Competitive Comparison:
Mainly competitor: Popsockets:
Design: We all can customize
Price: We can offer more lower price
Function: We have more practical function
Target consumer: We have more specific target consumers(Female)
Ziyu
Substitutes:
Phone grip/stand:
Phone grip/stand: These type of products can be a threat for our products. They have different shape but have similar functions. Not as comfortable, harder to grip and not as GORGEOUS
SWOT:
Low start-up costs No other mirrors on the market Attractive name Supplier in China we have a buyer who knows the language and culture No connections with retailers Big name stores (ex. Nordstroms) have a high %) charge a lot and being a start up funds aren’t ready
Booming industry Untapped market: people with arthritis, parkinson’s disease, etc. Patent mirror design Popsocket is established market leader Growing list of substitutes
Ashley
Target Market:
We want shelf space anywhere cell phones are sold.
We will be considered a fashion item as well so we are targeting Forever 21 and other Dept. Stores.
We will continue to research the market to consider any other places mobile phone accessories are sold.
Women→ Young adults / teenagers
Where → Mobile phone stores: ATT, Verizon
Phone retailers: Apple, Best Buy
Dept. stores: Forever 21
Retail stores: Target
Management Summary:
Phil: CEO
Ziyu: Director, Sourcing, Production
Seven: CFO
Ashley: Director, Marketing & Sales
Seven
Financial Plan:
Seven
Questions?
Thank You!
