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The product has 4 different colours which are red, yellow, green and
purple. The product line includes 2 different volume of bottle which is
500ml and 1 litre.
Miss Ng mentioned that the cost of the raw material is 10% higher than
the ordinary material as the material used is consume-safe material,
which is in better quality.
Human Resource
Mr Tan reported that 10 manufacturing operators is needed in the
production line. The operators are responsible to carry our day-to-day
factory production for the new launching bottle.
Online job vacancy and application will be carried out instead of
spreading through newspaper. Vacancy will be posted on JobStreet online
to reduce job advertising cost.
Mr Tan reported that the recruitment cost is higher that the budgeted
cost. Mr Kon suggested to transfer some of the excess working force in
the manufacturing department to the new production line and reduce new
recruitment. Mr Tan took the suggestion into consideration and updates
will be given to Mr Kon personally after the meeting. (21 of May)
Marketing and Sales
Miss Khaw reported that the new products will be sold through
intermediaries such as Amway, Cosway and shopping malls. Miss Khaw
had proposed to launch a new retailing shop.
Miss Veronica agreed on Miss Khaws suggestion by saying that it will
reduce the real cost of the product thus reduce the price because less
depending on the intermediaries.
Mr Kon suggested to remain the intermediaries selling method to remain
market control. New shop launching will further discuss on the next
meeting.
Miss Veronica proposed to use pricing strategies for market
penetration(use low-price strategy to increase customers loyalty).
Miss Veronica also suggested to set the price at break- even point. Mr Kon
worried about the strategy because it might lose trusts from the investors
about the launching of new products. Mr Kon explained the pricing setting
above the break-even(profit) is fine as the companys reputation is good
and customers accept good quality products with higher price instead of
normal quality product with ordinary price. Mr Kon also reminded that the
price should be set lower than the companys main competitor,
Tupperware. Everyone agreed with the suggestion.
Chairperson Appointments
Operation Department: Proceed with the production of products
prototype and come up with the complete financial plan by collaborating
with Miss Yap.
Human Resource Department: Make decision about transfer of employees
to reduce cost.
Marketing and Sales Department: Finalize the new product prize and start
to survey about potential online selling agencies. Sales manager can start
to approach the intermediaries mentioned.
4. Date, time and place of next meeting.
The next meeting would be held on 21th June 2016 at 11am in the
Conference Room.
_____________________
Signed by Mr Kon Hua En
Chairperson
_____________________
Recorded by Miss Yap Jia En
Secretary
21/6/2016
Date