Assignment 2 ENT300 SR11105 PDF

Preview

Summary

FACULTY OF SPORTS SCIENCE AND RECREATIONBUSINESS OPPORTUNITIES: NUTELLA PODPrepared By:NUR AFIQAH BINTI ABDUL LATIFF SR11105 (2016706903)SITI FATIMAH BINTI ABDULLAH SR11105 (2016102541)NABILA NAJAT BINTI MUHAMMAD GHAZALI SR11105 (2016366295)ISKANDAR NUR HAKIM BIN ZULKIFLI SR11105 (2015923385)MUHAMMA...

Description

FACULTY OF SPORTS SCIENCE AND RECREATION

BUSINESS OPPORTUNITIES: NUTELLA POD

Prepared By: NUR AFIQAH BINTI ABDUL LATIFF SR11105 (2016706903) SITI FATIMAH BINTI ABDULLAH SR11105 (2016102541) NABILA NAJAT BINTI MUHAMMAD GHAZALI SR11105 (2016366295) ISKANDAR NUR HAKIM BIN ZULKIFLI SR11105 (2015923385) MUHAMMAD DANIAL BIN ABD KARIM SR11105 (2016557115) Prepared For: DR. AZLIN SHAFINAZ MOHAMAD ARSHAD

TABLE OF CONTENT

Subject Table of Content

Page ii

Executive Summary

iii

Project Description

1

Project Implementation

2-4

Project Outcome Experiential Learning Outcome

5 6

Appendices

7

ii

EXECUTIVE SUMMARY The purpose of this business opportunity is about the business and strategies related to our course which is Fundamentals of Entrepreneurship (ENT 300). We had discussed all about the business strategies, problems and also the ways to overcome that problem. The reason for doing the business opportunity to unlighted us about entrepreneurship. The Nutella Pod is a original chocolate from nutella with different flavours. Although it is from Kok Lanas, Kelantan but the sales of this product have been spreading all over Malaysia. We can say that the a young a founder of Nutella Pod from Kok Lanas, Kelantan is so successful as he has a lot of agents all over different states. He has created a link for anyone who is interested with his products so that they can become agent too. The shape of this product looks trendy. Besides, this product has few flavours such as original nutella. The founder definitely does a good job at targeting his customers. Apart from that, with the reasonable price, it has become famous among the youngsters because it is affordable to every one of them.

iii

PRODUCT DESCRIPTION

The Nutella Pod is a homemade by founder that is supplied from Kok Lanas, Kelantan. This chocolate nutella pod is original from nutella and crispy for pod. We choose this product as our business project because nowadays, nutella pod had a lot of request from consumer. Based on supplier review, this product is a famous nutella pod that was sold in Terengganu and Kelantan. This nutella pod also is ready to eat version so there is no need to steamed it back. So, we take this opportunity to take this product as our project product and also be able to develop this product in this area. We use social media as our platform for promotion. Other than that, cash on delivery is made to make it easier for customer to get the chocolate jar they want. The target customer of this product is student especially UiTM Shah Alam student and people around there. For the customer from UiTM Shah Alam student who are in residential college. The location we sell our product is in Section 7 Shah Alam, and also UiTM Shah Alam area. We are planned to give a tester to the customer especially to a student as attraction and customer will be interested to buy this product. As at section 7 Shah Alam area, we sold this nutella pod from a promotion that we use by social media. In this promotion, we put some picture and a description of the product and also a detail for any information.

1

PROJECT IMPLEMENTATION (Key Partners) -

(Key Activities)

(Value Prepositions)

(Customer Relationships)

(Customer Segments)

No change to join

-Joined events,

-Delicious and healthy

-Social media.

-Targeting on large group of people

memebrship

celebrations, festivals,

food.

-Personal contact.

with different ages and races which

ceremonies, birthday

-Free delivery

-Customer loyalty

are included adults, teenagers, older

party and other else.

-Maintain quality product

-Product quality.

people and children who are sweet

-Sell variety of flavor

ingredients and

-important in making

eaters.

-Sell unique of nuttela

cleanliness.

business.

-Regular customer

pod

-Customized cupcakes

-Customized cupcakes due to

-3 years old above

according to customer

customer preferences. (Channels)

.

(Key Resources)

choices and preferences.

-Has their own recipe.

-Social media.

-Use high quality

-Agent systems.

product ingredient.

-Delivery. -Face to face business.

(Cost Structure)

(Revenue Streams)

-Cost of machine

-Reasonable price, provide service and free gift.

-Sales and Marketing.

-They only pay for product

-Rent, wages

-Value for being a loyalty customer.

-Delivery Charges. -Equipment and facilities.

2

Cupcakes Key Partners i.

Who our key suppliers? Our key suppliers are nutella pod. F

ii.

Which key resources are we acquiring from our partners? The key resource we

iii.

Which key activities do partners perform? The activities that parters perform are

acquiring from our partners. There was making a cupcake a their own busniness

sell the cupcakes. Key Activities i.

What key activities do our value propositions require? Key activities that we required is by joined events, celebrations, festivals, ceremonies, birthday party and other else

ii.

How you do what you do? Sell variety of flavor and sell unique

Key Resources i.

What are the most important assets required to make the business model work? The most important assets required to make the business model work is building block.

ii.

We are use high quality product ingredient and we are use their own recipe.

Value Proposition i.

What value do we deliver to the customer? Value that we deliver to the customer is customer can eat something delicious and healthy food.

ii.

Which one of our customer’s problems are we helping to solve? We help the customer’s problem is in packaging. We provide the attractive and unique packaging for our product to easily for the customer.

iii.

What bundles of products and services are we offering to each segment? The bundle of product and services are we offering is free delivery for our product. For every month, we will delivery our product to retailer, shopping mall, Mini market and so on.

Customer Relationships

3

i.

How do we get, keep and grow the customers? The customers can get the variety

ii.

Which customer relationships have we established? When we provide that kind of

product in social media.

service to the customer so it will increase the customer loyalty toward our product. iii.

How costly are they? It is very important in making business.

Channels i.

How to reach your customers? To reach our customers we had promoting our

ii.

Determine the distribution channel (virtual or physical)? We use the physical

product on social media like Instagram and Facebook.

channel. Customers i.

The target market for customers are the people about 3 years old and above.

ii.

The company target is the regular customer.

Cost Structure i.

What are the most important costs inherent to our business model? The most important costs is ingredient. We need the high quality raw ingredient to make a quality product.

ii.

What are the costs to operate the business model? The cost to operate the business model is machinery cost and ingredient materials.

Revenue Streams i.

Strategy the company uses to generate cash from each customer segment is our company giving a very reasonable price and free gift to the customer

ii.

For what value are our customers really willing to pay? Value for being a loyalty customer because when they loyal to our product they will like to buy although the price are quit high.

iii.

For what do they currently pay? The customer only pay for product that they want to buy only.

4

PROJECT OUTCOME The project outcome of our business is to find the customer or to survey about the product is nutella pod in our country. Our target is to all ages and gender. Our product also can eat to all ages. We sell our product and we make some survey how our product taste. We spend our money every week to buy our product from our supplier. We spend about RM200 for the nutellapod. We sell at affordable prices and all can buy our product for those who love to eat cupcakes. We sell at this because we want to attract or to make more promotion about this product. This is a good promotion to our product and it can further expanded on nutella pod. Our nutella pod taste not to sweet and all can be eaten. Our nutella pod is not to sweet because some of our customers do not eat sweet especially from the aged. We maintain the quality of nutella because we do not want any reduction in our customers. Secondly, our shops has a no competitor among us that sell a nutella pod. It can we make it a bigger business. This is a first time that we make a business nutella pod around this area. Our customer also like to eat a nutella pod because it taste so delicious. One of regular customer give a good feedback to our product. Because the taste of the nutella pod, the quality of nutella pod, and the price so affordable to all. He encouraged us to continue selling nutella pod. This is because not many that sell the nutella pod at the affordable prices. Our hope that we can open more branches to sell nutella pod. We also hope that we also can sell not only nutella pod. we also want to sell a verity of product. We also want to people know what product we sell and what product we serve to customer. We want people know our name. Our customer want our business bigger and can sell other product. Our customer always keep support our business.

5

EXPERIENTIAL LEARNING INVENTORY Based on our entrepreneurship in this semester, we learned a lot of new knowledge and experience. From our small business we got enhances confident level to talk with customer that buy our product. We admit it is not easy to find people to buy our product, to let the people know that we sell the product. From that we used a lot of method to marketing and promoting our product such as post on social media that includes whatsapp to our contact and post on instagram wisely. Then, in aspect of money management and prices of our product we studied earlier that this product can be sold in the market .We also make reasonable price and we can get our profit if our product sold out. We need to cooperate with our group and divide tasks such as who responsible person to hold our money safely and person that take care our product in good condition. Next, entrepreneurship enhances creativity and boosts innovation, being creative and innovative is something inside ourselves that need to be developed. It’s only through putting these ability to work that you can improve them. It’s undeniable that entrepreneurship requires both skills, so they will get used and improved along your way. We also learned that this business not only about sells the product, we also need to think about prioritize user satisfaction, their feedback about our product that mean worth or not their spent money to what them get. If the feedback is not good from your expectation, we need to improve our product and learned from the mistake so the users will repeat to buy our product .From this we learned that business also a good career to our future. Lastly, we learned a lot useful knowledge that we can apply that to our future but the most important this is learn to listen to your group member and value their ideas and point of view because working with your team in order to get something done is essential . People naturally excel in different subjects. If you accept that fact and learned to use it to your advantage (the team advantage), the end product, service or whatever project you are working on will turn out really well.

6

APPENDICES

7...