business finalprojectreport
TRANSCRIPT
SCHOOL OF ARCHITECTURE, BUILDING AND DESIGN, FOUNDATION IN NATURAL AND BUILT ENVIRONMENTS (FNBE)
INTRODUCTION TO BUSINESS
FINAL PROJECT CHARITY DRIVE EVENT
Mr. Chang Jau Ho
YK. & Co.
Group Leader: Lim Yang Kang (0320538)
Group Accountant:
Erica Lo Set Lek (0319005)
Group Members Cheok Jian Shuang (0320089) Lucas Ong Tun Cheik (0319939)
Table of Contents
TITLE PAGES
EXECUTIVE SUMMARY 1
OBJECTIVES 2
TARGET MARKET 3
COMPETITION ANALYSIS 45
PRODUCT AND PACKAGING 67
PRICING 8
PROMOTION 9
SPONSOR 10
DISTRIBUTION 11
GREEN MEASURES 12
HUMAN RESOURCE PLANNING 13
EVALUATION OF RESULTS 14
APPENDIX 1516
Executive Summary In light of our recent charity sales for our business subject, we did indeed manage to
exceed our target profit and donations, which amounted to RM 2706.40. Along the way
to actually realizing this hardearned money, our fourman team had been seen the ups
and downs of running our own small, selfsustaining enterprise. Keeping in mind that
these highs and lows originated from excited suggestions, it was indescribably
satisfying seeing them and develop into fullfledged possibilities and eventually results.
The realization that this assignment was not just about hitting the monetary target was
increasingly evident as we bonded as a team to lead each other through each and
every challenge as they presented themselves. From customers’ criticism regarding
product quality to a drain of energy from fullday sales and latenight bracelet making
during midweek, we always pushed on. Learning everyday and slowly but surely
grasping the skills of our individual responsibilities was insightful process. Definitely
there were times when we nearly broke down in a temper due to exhaustion and
frustration, but we managed to stay understanding and treat each other reasonably.
The result was a brilliant business, which originally start from a scratch. Not forget to
mention a brilliant friendship.
Objective
We target to raise a minimum amount of RM2,500 and donate it to World Vision. We empower to public by giving them opportunity to lend a help to World Vision through this charity drive event. We also want to raise public awareness about the needs of poor children.
Target Market
1. Students at Taylor’s University Lakeside Campus a. Total student population approximately 20,000;
b. Mixed gender and race local students 65%, international students 35%;
c. Mainly aged 18 to 24;
d. From mid to high income families;
e. Have a sense of fashion trends;
f. Generous and caring students who are willing to donate to a worthy charitable cause.
2. Friends, family and relatives a. Mixed gender and race;
b. Various ages;
c. Mid to high income;
d. Interested in trend of fashion.
3. Hand accessories lovers a. Mixed gender and race;
b. Various ages;
c. Strong enthusiasm and passion towards hand accessories;
Competition Analysis Basically, our competitors are the groups which doing the business same as us for charity drive.
Two main competitors which is closer to our group is :
1) Henna Temporary Tattoo Group ( Erica Chin’s Group)
The main business of this group is hand drawing temporary henna. Besides that this
business, they also sell different vintage style of accessories such as necklace, earrings and
bracelets. The stall is located far from us but the business of their stall is very good.
Advantages:
Location of the stall is near to the area of people come into school. This gives a big benefit of
catching the attention of people who just arrive school. Besides than that, the necklace and
earrings are very cheap. The price is cheaper than our products. Besides that, charms on
bracelets can customize by customer and choose what they like.
Weakness:
Although the selling of products of their is quite well, but the products are not on the trend.
Moreover, the bracelets and necklaces only suitable for girls which reduce the area of target.
2) Fashion Accessories and outfit Group ( Ngo Jia Haur’s Group)
This group sell variety of items such as Tshirt, Dota keychain, phone casing and necklace.
Basically, this business have less influence compared to the first one. The only same category
to our products are necklaces which our products are bracelets.
Advantages:
The necklaces are cheap and attractive. People especially girls prefer shiny necklaces due to its
beautiful and elegance. Games lovers will definitely choose to visit their booth at first. They also
use the strategy of reducing price if more items are bought.
Weakness:
Dota products are only provide for the game lovers which the target of customers are limited.
Choice of necklace are limited and customize is not available so customers only can buy few
types of necklace which already display at their booth.
Product and Packaging Product The only product we are selling is paracord bracelet. We do this paracord bracelet by our own
which mean all are handmade. We did a few sample of design for sell and customers also can
design their own paracord bracelet by telling us their favourite design to us. The paracord
bracelet is made up of two items which is a buckle and paracord. We choose different colour to
enable different choice to customers. The colour of paracord we decided to sell are:
1. Tiffany blue
2. Maroon
3. Navy blue
4. Red
5. Khaki
6. Brown
7. Army Green
8. Yellow
9. Pink
There are two types of buckle which is a gold buckle and black buckle.
Golden Buckle Black Buckle
We only provide two types of pattern for the paracord bracelet. There are normal braids and
king cobra pattern.
Normal braids King Cobra
Features:
The paracord bracelet is strong and hard to break as it is made up of paracord. Paracord is
used in a suspension lines of US parachutes during World War ll which symbolise the great and
powerful strength. The design of paracord bracelet is also a trend. It is more to the fashion trend
of hipster. They can match the paracord bracelet with watch or even others hand accessories.
Although there are a lot of paracord bracelet outside, but the customize design and colour is the
only one and it is only for customer themselves.
Packaging No packaging was done. We decided to hand in to the customers directly and there is not
necessary to do this. People usually will put into their hand directly after purchase.
Pricing
The prices were deliberately set slightly higher than the open retail market to achieve a higher
profit margin. However, we were confident that we could achieve our sales target, as we had
faith that the caring students and lecturers at TULC would be motivated to contribute to a worthy
charitable cause.
Product Selling Price:
Basically, we were selling the bracelets in all sort of designs (single/ mixcoloured/ normal
braids/ king cobra) with the same and reasonable price, which was RM 20.
Product Cost Prices:
a. Buckles(black/ gold): sponsored;
b. Paracords (in all sorts of colours) : sponsored.
Strategies:
a. Reasonable pricing;
b. Attractive designs of bracelets;
c. Customize service is available;
d. Location of stall along a busy main walkway at TULC;
e. Advertise our own business on social medias (Instagram);
f. Wordofmouth advertising.
Marketing & Promotion
Our main tools for marketing our products were:
1. Digitalproduced posters
Our posters were published on the bulletin board behind our booth to attract customers
and to provide them the knowledge of our cause. The minimal posters enticed many customers
to learn more about our product and our cause.
2. Direct facetoface conversations
We provide services in consulting the customers what to design for their paracord
bracelet. All the information and question about the paracord bracelet is discussed one by one
and final decide is based on customer’s needs.
3. Social Media applications
Instagram is the hottest apps we used to spread and promote paracord bracelet. All the
youngster or paracord lover directly contact us through instagram. People can easily understand
and have a clear view of what is paracord bracelet on this apps. We also take the advantage of
young people who love to play instagram.
Sponsors
We decided to not approached neither individuals nor corporate entities for sponsorship.
Instead, we tried to have our parents as sponsors since this reduced the possibility of getting
rejected, and also, time can be saved. In this charity drive, we managed to collect an amount of
RM 300 from parents. We use the easiest and fastest way to find sponsorship which is our
family. They willing to help in financial way. After our discussion, only three of our group mate
have to sponsor RM 300 in total. While another mate willing to sponsor all the fees for paracord.
Distribution Our products for the charity drive were made on the spot at our booth. The products were not
replenished throughout the day as the number of products expected to be sold were estimated
through calculation of expected sales volume to be made each day. This is to ensure that the
quality of the products are always on the top notch. The quantity of products sold each day was
also controlled by the amount of profit generated after each sale; it was essential for the target
to be reached each day. All products were set up before the week ended so the customers
wouldn’t take too long to get their products. Customers were also given the chance to order
products through calling and texting us. During some peak period, eg: lunch time, we knew that
it will be the most crowded time of all day that the volume was made up by more aggressive
sales method like more convincing sales talk and louder calls. In the end, no attempts at stock
clearance discounts were necessary.
Green Measures As all the products are inedible, relatively no environmental waste is produced. The excess
paracords are being kept for the next use. As the majority of distribution is done facetoface,
which the customers approach our booth when the bracelet is ready, so the carbon footprint is
low.
Human Resource Planning Due to the limitation number of each group, so every one of us in charge of several job scope.
Team Member Job Scope
Lim Yang Kang Project Leader, Social Media Manager,
Paracord Bracelet Designer, Paracord
Bracelet Maker
Erica Lo Set Lek Accountant, Treasurer, Receptionist,
Saleswoman
Cheok Jian Shuang Receptionist, Paracord Bracelet Designer,
Paracord Bracelet Maker, Saleswoman
Lucas Ong Tun Cheik Salesman, Paracord Bracelet Maker,
Marketing Strategist
Team Organizational Chart
Evaluation of Results
It is in the author’s opinion that we have done really well in sales. We have succeeded in
generating massive demand for our products, and are able to produce enough supply to meet
that demand. However, we encountered pitfalls with the arrival of the buckles and paracords
which purchased through the web. The arrival of both items were always delayed due to some
technical issues, causing the delay in our braceletmaking process. In addition, we ran into
massive difficulties in production. Although in the end we were able to meet the demand, there
is no denying the massive efforts, energy as well as overhead costs needed to sustain sizable
production rates.
If this event were to be run again, we would streamline our production, search for another
trustable material suppliers, and perhaps we could have ignored the negative condemnation
received and instead, have confidence in ourselves and our cause.
Profit and Loss Report
Statement of Income For YK. & Co for the Business Charity Event ended 19 June 2015
RM
Total Sales Revenue 2820.00
LOSS: COST OF GOODS SOLD
Paracord and Buckle 418.00
GROSS PROFIT 2402.00
Total Donation 27.20
Sponsorship from family 300.00
ADJUSTED GROSS PROFIT 2729.20
LESS : OPERATING EXPENSES
Lighter 4.00
Receipt Books 17.80
Document for Photostat 1.00
NET PROFIT 2706.40