ENT300 - Business PLAN - GROUP ASSIGNMENT PDF

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Summary

1 Introduction1 Name of the Business Our company’s name is ALSTROEMERIA SDN BHD. We choose “ ALSTROEMERIA SDN BHD” as our company’s name because we want to achieve prosperity, fortune and wealth in future. ALSTROEMERIA is a name of flower that refers to wealthy, fortune and prosperity. We have our o...

Description

1.1 Introduction

1.2 Name of the Business Our company’s name is ALSTROEMERIA SDN BHD. We choose “ ALSTROEMERIA SDN BHD” as our company’s name because we want to achieve prosperity, fortune and wealth in future. ALSTROEMERIA is a name of flower that refers to wealthy, fortune and prosperity. We have our own shop that sell and manufacturer the product. With the unique of our company name, we hope that we can attract more people to come to our shop to buy and taste the uniqueness of our product.

1.3 Nature of business Our main activity is manufacturing. We make a several type of jam such as strawberry, blueberry, pineapple and raspberry. Our main product is jam with fruit flavor.

1.4 Name of partners This business is founded by 3 partners. They are Nur Ain Syahira Binti Mohammad Fatheli, Anis Nabilah Binti Zaidi and Nur Natasha Syazwani binti Nazri.

1.5 Location of the business The premise is located in Lot 24, Jalan Durian 2, Kg Sungai Buah, 43800 Dengkil, Selangor Darul Ehsan. The choosen location can be considered as strategic since it is near to the town of Bangi and Putrajaya.

2.0 Purpose of Business Plan Business plan is a set of documents prepared by an organization management to summarize its marketing, operational and financial objective for the near future. It provides step by step guideline once we started our business. It also provides an idea on how to achieve the organizations goals. This business plan is very important to a new company like ALSTROEMERIA SDN BHD because it may help us to maintain longer in the market. 2.1

The Entrepreneur

To better understand the purpose of the business and act as guideline to manage effectively and efficiently 2.2

Financial Institutions

Assist and help the financial institution to evaluate the capability of the proposed project and provide loan for the business. Financial institution involved in this business is Public Bank. 2.3

Supplier

Help convince suppliers of the viability of our business venture thus benefiting both the suppliers and our company in the long term business arrangement. 2.4

Company Staff

Help workers to understand the business goals and objectives also give guideline to them regarding their job duties and responsibilities. 2.5

Customers

Persuade and influence our customers regarding the product being offered and gives assurance and confidence to them to have business with us. In addition, main objectives of development of Alstroemeria Sdn. Bhd. Company which focus on producing a healthy breakfast. We are very delightful to attract people interest in our jam product which people will taste and interested to buy it more in future. With the innovation of the packaging and new flavor of jam we confidently would like to sell them and feel that it suit for our daily usage. Our business vision is to remind people that healthy breakfast is really a need for us.

3.0 Business Background

Name of the Company Name of the Product Business Address

Alstroemeria Sdn. Bhd. Squeezy Jam Lot 24, Jalan Durian 2, Kg Sungai Buah, 43800 Dengkil, Selangor Darul Ehsan.

Website Email Telephone Number Form of Business Main Activity Date of Commencement Date of Registration Registration Number Name of Bank Bank Account Number

4.0 PARTNERSHIP BACKGROUND 4.1 General Manager

www.alstroemeriacomp.com.my [email protected] 012-6113964 Private Limited Company Manufacturing 1 September 2018 1 May 2018 RA 0010310-D Public Bank 1151 4 7799

Name of Partners Identity Card Number Permanent Address

Nur Ain Syahira binti Mohamad Fatheli 980327-14-6172 No.307, Blok 2 Jalan 1/9 43650 Bandar

E-Mail Telephone Number Date of Birth Marital Status Academic Qualification

Baru Bangi. [email protected] 019-6888479 27 March 1998 Single - Diploma in Business Studies, UiTM Kelantan. - Bachelor Business Administration (Hons.) International Business, UiTM Puncak Alam - Editing Skill

Skills

Experience Present Occupation

Calculating, Budgeting and Data

Mining Skill Branch Manager of Secret Recipe

Table 4.1: Partnership background

4.2 Financial Manager

Name of Partners Identity Card Number Permanent Address

Nur Natasha Syazwani Binti Nazri 980727-14-6438 1C-11-04 PPA1M Larai, Presint 6,62200,

E-Mail Telephone Number Date of Birth

Putrajaya. [email protected] 017-2211310 27 July 1998

Marital Status Academic Qualification

Single - Diploma in Business Studies, UiTM Kelantan. - Bachelor Business Administration (Hons.)

Skills

Finance, UiTM Puncak Alam. - Computer Skill

Experience Present Occupation

- Microsoft Excel Skill Accountant Supervisor at Hitachi Malaysia

Table 4.2: Partnership background

4.3 Marketing and Operating Manager

Name of Partners Identity Card Number Permanent Address

Anis Nabilah Binti Zaidi 980626-10-7050 Lot 4058 Lorong Haji Abdul Aziz Batu 7

E-Mail Telephone Number Date of Birth Marital Status Academic Qualification

Jalan Kebun Klang [email protected] 0142374052 26 June 1998 Single -Diploma in Banking Studies, UiTM Kelantan. -Bachelor Business Administration (Hons.)

Skills Experience Present Occupation

Marketing, UiTM Puncak Alam Editing Skill Human Resource at Petronas Berhad

Table 4.3: Partnership background

5.0 MARKETING PLAN 5.1 Introduction Marketing can be defined as a “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing is one of the premier components of business management. Marketing is one of the most important part in producing a product or services. Marketing plan is needed to for business to achieve its goals and resources such as money, time and energy can be wasted. Marketing is a key part of a business success and we must use marketing plan as a basis for executing marketing strategy. A marketing plan sets out to clear objectives and lists the actions that can help us achieve our target. The task of marketing department of ALSTROEMERIA SDN BHD is to fulfill our customer needs. At the same time we want to achieve the targeted profits. A lack of understanding of the marketing concept can result a poorly developed product that fails to meet the customer’s needs and wants. This can affect our marketing efforts and performance, overall business expansion and progress. Service differentiation, such as delivery services to the customer premises provide our business a longer lasting competitive advantage. The durability of the strategy tends to make it more attractive. The basic idea of marketing is basically an exchange activity that’s takes place between a business entity and its customer. These customers include individual business entity, and also the support organizations. Marketing is a crucial and critical aspect in business and always referred as the backbone to any business in achieving a profitable outcome. In conclusion, marketing plan is important as it acts as a catalyst or starter of a business because of its step of introducing the products and record the market acceptance in the business. In our business, we are introducing new product which has never been produced before and that is jam in a squeeze bottle in various flavors.

5.2 Product Description Our company, ALSTROEMERIA SDN BHD, has produced a product called SQUEEZY Jam, which showcases a new design of product that made especially for customer for ease of their use. Our jams have variety of flavors to be distributed to the customer. Type of business Name of company Name of product / Brand name Flavor

Target customers

Raw materials

Feature Design and packaging Price per unit

Produce food (Fruit jam) ALSTROEMERIA SDN BHD SQUEEZY jam  Strawberry 

Blueberry

 

Orange Students



Parents

 

Working adult Strawberry



Blueberry



Orange



Mixer



Plastic bottle

 Machine New / modern design RM4.30

Table 5.2: Product description

5.3 Target Market A target market is a group of customers within a business’s serviceable available market that the business has decided to aim its marketing efforts towards. A target market is a subset of the total market for a product or service. The target market consists of consumers who exhibit similar characteristics such as age, location, income or lifestyle and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service. The choice of a suitable target market is one of the final steps in the market segmentation process. The choice of a target market relies heavily on the marketer's judgement, after carrying out basic research to identify those segments with the greatest potential for the business. Occasionally a business may select more than one segment as the focus of its activities, in which case, it would normally identify a primary target and a secondary target. Primary target markets are those market segments to which marketing efforts are primarily directed and where more of the business's resources are allocated, while secondary markets are often smaller segments or less vital to a product's success. Selecting the "right" target market is a complex and difficult decision. However, a number of heuristics have been developed to assist with making this decision. Once the target markets had been identified, the business will normally tailor the marketing mix (4Ps) with the needs and expectations of the target in mind. This may involve carrying out additional consumer research in order to gain deep insights into the typical consumer's motivations, purchasing habits and media usage patterns. We have segmented our market based on these three factors, which are geographic, demographic and psychographic. Market segmentation is the technique that we apply in order to identify our market which greatly helps in deciding our target market, finally our business in long run. It involves the process of defining and subdividing a large homogenous market into clearly identifiable segments, having similar needs, wants or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. This is because mistakes in market segmenting may cause business to lose sales.

5.3.1 Geographic segmentation We have chosen Sungai Buah, Dengkil for our business location based on a few aspects that has been considers which infrastructures, the system of transportation and the environment. Furthermore, the location is strategic because we are near with many universities, office and houses. 5.3.2 Psychographic segmentation Psychographic segmentation divides the market into groups according to customer’s lifestyle, personality traits and interest. Our product is suitable for people who are still studying and working. Our unique features of product will ease the use for our customer to eat especially during breakfast. Therefore, the working parents can prepare breakfast for their children and themselves easily. 5.3.3 Demographic segmentation The main target market for our product is the students who are still studying at school or universities and adult community especially working parents. These people usually busy with their life, finishing paper work and some of them are too busy handling their tasks. These people are concern with their time. Our product is very affordable and will be sell to all people. It is because the price of our jam is suitable and affordable to people with different level of income. Therefore, we are trying to take this opportunity to capture them since our SQUEEZY Jam can help them to take their food on time. Besides that, they can practice a healthy lifestyle because they take their food on time and we use natural ingredients such as fresh fruits without using any preservatives.

5.4 Market Size 5.4.1 Population Population of Bandar Baru Bangi

: 40,000 people

Estimation target per month

:

5.4.2 Total marketing size Marketing size = Target market x Price per unit Total marketing size = 10,000 x RM4.30 = RM 43,000

5.5 Competitors 5.5.1 Identifying competitors Competitors Lady’s Choice

Strength

Weaknesses



Reasonable price



Lack of fruits quality



Long lasting



Less interesting



Natural Ingredients

about the packaging 

The supplier deliver late

eva



Affordable price



Using imported ingredients



Various types of flavour



The product did not gain consumers attentions.



The labeling cannot be read.

Table 5.5.1: Competitive analysis

5.5.2 Ranking of the competitors Table 5.5.1 shows our competitors, which is Lady’s Choice and eva. The ranking of company is as below: Rank no.

Competitors

Lady’s Choice

1

Eva

2

Table 5.5.2: Ranking of the competitors 5.6 Market Share

Market share is the division of market or sales between companies that are producing the same product and business activities. It will be considered number of competitors, experience, strength and weaknesses. The following table explains about the market share division before and after our company enters the market. 5.6.1 Market share before the entrance of ALSTROEMERIA SDN BHD Competitors

Percentage of Market

Estimated Income Per

Share

Month (%)

( RM )

Lady’s Choice

50

100,000

eva

50

100,000

Total

100

200,000

Table 5.6.1: Market share before the entrance of ALSTROEMERIA SDN BHD

5.6.2 Market share after the entrance of ALSTROEMERIA SDN BHD Competitors

Percentage of Market

Estimated Income Per

Share

Month (%)

( RM )

Lady’s Choice

45

88,312.50

eva

35

68,687.50

Squeezy Jam

20

43,000

Total

100

200,000

Table 5.6.2: Market share after the entrance of ALSTROEMERIA SDN BHD

5.7 SALES FORECAST

MONTH

SALES COLLECTION (RM)

JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER TOTAL

TABLE 5.7.1: SALES FORECAST FOR 2018

YEAR

PERCENTAGE INCOME (%)

SALES FORECAST (RM)

1 2 3

TABLE 5.7.2: SALES FORECAST BY YEAR

5.8 MARKETING STRATEGIES Marketing strategy is a process that allows our company to focus on the business plan in order to achieve the marketing objectives. It shows the information about the consumer needs and wants. In the marketing strategies they have four elements which is product, price, place and promotions that known as 4P’s. All of this element will fulfill all the consumer needs and wants. 5.8.1 PRODUCT Our main jam product is the squeeze bottle which is known for many kind of flavor such as strawberry, blueberry, and many more. In Malaysia, there already have many jam that contain in a jar but never had a jam that in a squeeze bottle only in the states. The reason why we create the product is to make the users or consumer easy to use it without any difficulties. 5.8.1.1 BRAND Brand is a name, term, sign, symbol or design that can be differentiate by other competitor product. Our brand can be easily recognized by the consumers of the design of the bottle that can squeeze. Other than that, this can be protected by the copyright. Our brand is Squeezy Jams. 5.8.1.2 QUALITY Quality is one of the main important things that have to conclude in a product so that the consumers can feel more attract to our product. Our is product mainly use a fresh fruit such as strawberry, blueberry, and more. We also examined the quality of the product before it deliver to any retailer and wholesaler. 5.8.1.3 DESIGN We design the product as what the consumer would affordable to buy and easy to use. We focus on the shape of the bottle, so that the consumer can easily use without need to open a cover such as the other design for other jam. The more unique of our product is because it’s easy and useful to use.

5.8.1.4 PACKAGING The way you design your packaging is just as important as the product itself. The packaging entices our potential customer and can help convert them into a sale. We want our packaging to make people stop and notice the product. Our product ability is it can easily squeeze the bottle and it easy to carry around. 5.8.1.5 LABELLING This labeling is printed onto the packaging of the product. The labeling is easy to read and understandable by the consumers.

5.8.2 PRICE We provide the product with a reasonable price and high quality fruits. The consumers can get our product from the entire store that we supply. The price of our product is only RM 4.30, because it has to suit with our vision and mission of the company. And it is also affordable within any level of consumers. 5.8.3 PLACE Our company located in Dengkil, Selangor. Our packaging supplier is located near our company but the fruits supplier is located at Penang. The reason we choose the fruits supplier at penang because it supply variety of fruits.

SUPPLIER

MANUFACTURER

RETAILER

CUSTOMERS

The raw material is supply to the manufacturer, the product is quality checking process before its deliver to retailer. Then from the retailer it sold to the consumers.

5.8.4 PROMOTION Promotion is the voice of your company which send out your brand’s message loud and clear to the audience. Various media platforms can be used to promote your company and brand. They include television, radio, shopping outlets, billboards, magazines, and social media. 5.8.4.1 ADVERTISING The advertising concept that our company used is through websites and signboard. We used the website and signboard to increase and helping the sales of our product. the consumers can gain information through our advertising concept. 5.8.4.2 WEBSITES We have our own website which is www.alstroemeriacomp.com.my, to promote the product to consumers. In the website we conclude our information about our company background and our product. The website also consist of our location of the manufacturer and the retail store. 5.8.4.3 SIGNBOARD We create the signboard for the consumer to gain the information of our product even the location of our company. 5.8.4.4 PAMPLETS Pamphlets or brochure is also important thing in advertising our product. It is one of a way to increase visibility and marketing of our company. It also helps to reach the targeted audience. The pamphlets or brochure contains specific information about our company and products.

5.9 MARKETING BUDGET Type

Fixed assets (RM)

Monthly expenses (RM)

Ot...