(J)Final New Bag Product
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Transcript of (J)Final New Bag Product
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7/30/2019 (J)Final New Bag Product
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Group memberChui Lok Man 53106860
Chung Hiu King 53106649
Suen Man Kit 53105407
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Introduction
Omnipotent Bag
Reusable shopping bag
Material : Canvas
Innovative function* :Keep cool or Keep warm
The product/market expansion grid:Product development
Idea: Reusable shopping bag is really popular foryouth in Hong Kong create a dream bag whichoffer the different needs of youth
https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ3
8j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharing#
http://www.google.com.hk/url?sa=i&rct=j&q=Canvas&source=images&cd=&cad=rja&docid=7QF665TEUs1Q4M&tbnid=MZLezgIFRVipAM:&ved=0CAUQjRw&url=http://www.photo-dictionary.com/phrase/4900/hessian-canvas.html&ei=qQNjUcjpI6yaiAeqrYH4Bw&psig=AFQjCNF7d98Z3rymCPYYLxciPSoYREw9VA&ust=1365529869424995http://www.google.com.hk/url?sa=i&rct=j&q=Canvas&source=images&cd=&cad=rja&docid=7QF665TEUs1Q4M&tbnid=MZLezgIFRVipAM:&ved=0CAUQjRw&url=http://www.photo-dictionary.com/phrase/4900/hessian-canvas.html&ei=qQNjUcjpI6yaiAeqrYH4Bw&psig=AFQjCNF7d98Z3rymCPYYLxciPSoYREw9VA&ust=1365529869424995https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttp://www.google.com.hk/url?sa=i&rct=j&q=Canvas&source=images&cd=&cad=rja&docid=7QF665TEUs1Q4M&tbnid=MZLezgIFRVipAM:&ved=0CAUQjRw&url=http://www.photo-dictionary.com/phrase/4900/hessian-canvas.html&ei=qQNjUcjpI6yaiAeqrYH4Bw&psig=AFQjCNF7d98Z3rymCPYYLxciPSoYREw9VA&ust=1365529869424995https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharing -
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The value of product
D.I.Y design your dream bag Having 3 wearable methods
Giving the waterproof and transparent plastic cover
Having a zipper
Having many secret bag in Omnipotent Bag
The bag can folded into a small shape whateveryou want
( two buttons to regulate the size of the bag nearthe zipper)e.g. long champ
The bag can adjusted the length of the belt of the
bag
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Buttonsregulate the size of the bag
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Innovative functionDouble Keep cool orKeep warm
Cold compressWe put this reusable device into the internal bag1. Users have to crush the internal bag2. Shake until the gel inside being well mixed3. Wait for 5 seconds
Keep cool:
It can exert cooling function and drop as minus five to tendegrees
Keep warm:
Boil for 4-5 minutes Aluminum Foil Silver Lining and PVCThe internal bag have been material added these that can keep the
temperature
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Result of questionnaire research
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Competitor Features &
uniqueness
Selling
place
Jack wills Practical, Brand effect Flagshipstore
Muji Practical, Natural Flagshipstore
Omnipotent Bag Practical, D.I.Y design,Waterproof, Multiple
function
Onlineshopping
Competitor : Product Comparison
http://www.google.com.hk/url?sa=i&rct=j&q=muji+BAG&source=images&cd=&cad=rja&docid=BcWgYBCFQ9H38M&tbnid=bFgbqFnFcdFe5M:&ved=0CAUQjRw&url=http://sliceofstyle.com/muji-cotton-my-tote-bag/&ei=2MdjUY-7DYqViQeP4YH4Dw&psig=AFQjCNHTknWuUX79hMq8Akieiw4SXCNBXA&ust=1365580113286153 -
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Opportunity
Innovative function (other brand havent e.g.Jack wills, Muji)
Fashionable than another reusable shopping
bag ( D.I.Y/ Provide update patterns, pictures &design for reference)
At the same pricing, more function
Occupy a big part of this type of product ofmarket share
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OmnipotentBag
in Hong Kong Market
Macro-environmental
Demographic ForcesThe Youth Population
Economic Forces
Inflationary trends
Employment level
Median Monthly
Income
Political ForcesSME FundingSchemesGovernment
grants fifty thousandfor SME
Grant of the patents
Technology Forces
Reusable coldcompresss theory
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Segmentation, Targeting &
Positioning
Segmentation & Target Market
(Multi-Segmentation)
1.Geographic
Fixed on city (Hong Kong)2.Demographic
Generation Y
Occupation (Students)
3.Psychographic
Generation Ys personality characteristics:Peer-Effect
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Targeting
Differentiated (segmented) marketing We target several market segments
Design separate offers for eache.g. D.I.Y design different design based ondifferent customer
Benefits: capture more market share & use
less resource than Undifferentiated marketing
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PositioningPosition Map
Competitive advantages
Innovative function Keep cool orKeep warm Waterproof
Provide superior customer value
Selecting an Overall Positioning StrategyThe value proposition on our product:
More for the same(offer comparable quality at a same price)
=Omnipotent Bag
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Objective
Expend the market share Time: this summer ( May September)
Target : Sell 10000 units
250
1350
3400 3400
1600
0
10002000
3000
4000
Target
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Product
Quality Use high quality canvas
Waterproof and limpid plastic
Design Design by yourself (D.I.Y)
Optional printing pattern
Feature
Keep warm and keep cold
Suit for summer and bring it tooutdoor activities
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Price
List Price
$100
Market-penetration pricing
Set a low initial price in order to penetratethe market quickly and deeply
Discount
Buy 2 get 5% off If there are a lot of stocks
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Promotion
Advertising
Open facebook fans page
Post a lot of photos about
products Post some videos on Youtube
Sales promotion
Recommend a friend to buy whocan get $5 cash coupon
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Place
Channel Online shop
Coverage
Facebook, Instagram Many people like online shopping
InventoryA mini warehouse
Trading Method Face on face (in MTR)
Send by post
registered parcel (+$18)
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Control
Provide different colors Waterproof and limpidplastic
Buy one bag get 3 cold
compress Group buying