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MOD LIVING

PRESENTED BY

AREEBA IRFAN (30024)


ARMISH KAMAL (36276)
WALEED HASSAN (36908)
HASAN ABID (36230)
Acknowledgement

Presentation inspiration and motivation have always played a key role in the success of any

venture. The report being submitted is a result of collective effort.

First of all, All Praise is to the Almighty Allah for it was His favor upon us that we were able to

manage this report.

Secondly, we, the student of Iqra University are extremely grateful to our Course Instructor Sir

Sami for encouraging us to the highest peak and to provide us the opportunity to prepare the

report. We are immensely obliged to our friends, teachers, and all those people who enjoined

their efforts for their elevating inspiration, encouraging guidance and kind supervision in the

completion of this report.

Last, but not the least, our parents are also an important inspiration for us. So with due regards,

we express our gratitude to them also.

Executive Summary:
“If you can dream it, you can do it. -- Walt Disney

Don't aim for success if you want it; just do what you love and believe in, and it will come

naturally.

– David Frost
Description of Business:
We are four partners and we have started the business of portable furniture. The iron rods

industry represents 95 percent of the total market. The iron rods add a fashionable and a wow

factor. It finds its role in the smaller, large, casual and miscellaneous items, sometimes referred

to as "Compact furniture". We believe that more natural the more eye-catching and attractive it

would be. We are providing our consumer with attractive looking products. Also this furniture

requires low maintenance, looks beautiful and is extremely durable.

We have a few prototypes to make it easier for our consumers to have a look at what type of

product we are working on. We are also working on our page on where you can see the pictures

and all the details are provided there along with the contact number being mentioned,

customization can also be done. The main purpose of this business is to provide beauty to

consumer through that portable furniture. We want to change the concept of buying expensive

furniture.

MISSION STATEMENT:
MOD Living helps create pleasant, productive office environments with well-designed chairs

that incorporate new technology. We are sensitive to the look and feel of good wood. We always

provide the best possible value to our customers who care about quality and we care about the

money.

We also create and nurture a healthy, creative, respectful, environment, in which our employees

are fairly compensated and encouraged to respect the customer and the quality of the product we
produce. We seek fair and responsible profit, enough to keep the company financially healthy for

the long term and to fairly compensate owners and investors for their money and risk.

VISION STATEMENT:
In future we will develop and manufacture furniture of high quality at affordable prices. MOD

LIVING expectations are to expend their business in all over Pakistan. If products are going to

be successful we will expand our business to international level.

OBJECTIVE:
Our objective is to change the concept that furniture can’t be shift or taken to other places, and

this all can be bought at a cheap price at can be affordable. We want to make our product as a

brand so that people can recognize it by its name we don’t need to explain it.

Market Research:

We are dealing with iron rods to enhance our product and that is innovative. Our motive is to

provide our consumers better quality innovative furniture. We are coming as a competitor move

where we are consuming iron rods that are refined in the manufacturing. This will not only add

value eye catching beauty in your bedrooms, living rooms and even offices, with an exotic look

like the one of an interior decor.


4 P’s OF MARKETING:

PRODUCT:

MOD LIVING would be making home furniture that would be portable that includes:

● Chairs

● Mini closet

The entire product would be light weighted so it would be easy to carry them.

PRICE:

MOD LIVING is using market penetration strategy that means we are producing and selling our product

at lower rate than market.

PROMOTION:

MOD LIVING at its initial stage hasn’t done any promotional efforts at this stage this is B2C market that

mean business to customer/consumer. MOD LIVING will directly deliver its product to your door step.

PLACE:

Location for placing our product we select some area of Karachi i.e. Saddar, Bahadurabad.
MANAGEMENT PROCESS:

Planning:

The strategy works on the expectation that customers will switch to the new brand because of the

lower price. Our goals are that to capture the local market and to capture more and more

customers.

Organizing:

Our organization design is dynamic because everyone can easily give new ideas. We’re making

ourselves social active to make new customers and new distributors.

Leading:

We’re leading the employees and motivating them to achieve our goals. Communication

between everyone is open so that everyone can share their ideas.

Controlling:

We’ve controlling power on our employees because if their performance is low that it will affect

our revenue. We give deadlines to our employees and maintain check-in-balance about our sales

and costing.
PESTLE ANALYSIS:

P – Political

E – Economic

S – Social

T – Technological

L – Legal

E – Environmental

Political Factors:

Our business is based on the political factors, because if the tax rate or other rates our increase

then it will affect our prices will fluctuate due the extra amount that would be given to pay the

rates.

Economic Factors:

If the currency is devalued or the exchange rates goes up then the spending power of the public

would be low so it will effect economically.

Social Factors:

Our product is according to the trends and it fashionable, everyone can purchase it easily because

there’s no limitation.
Technological Factors:

Our product isn’t base on technology so any changes in technology wouldn’t effect on our

business.

Legal Factors:

It’s interlinked with the political factors because it also depends on the laws about wages and

taxation about employment so the changes in this will affect our business.

Environmental Factors:

It depends on the CSR activity and if the products aren’t affecting the environment so our

products aren’t effecting any environment as well.

SWOT Analysis
Strengths:

● Portable furniture

● Light weighted

● Easy to carry

● Trendy

● Everybody can buy it

● Affordable
Weaknesses

● Don’t pay much attention on marketing

● Don’t have much budget for marketing

Opportunities

● We can enlarge by digitalization

● We can sell it online on different websites

● We can deliver it on customer’s door step

Threats

● High competition

● Design can be copied

● Expense of running media ads

● Increase in prices of raw material


Competitor Analysis

MOD LIVING Gulplaza Saddar furniture Market

1. Flexibility 1. Non Flexibility

2. Less in price 2. Expensive

3. Available in different color 3. Available in many color

4. Online selling only 4. Available in shop

5. Uniqueness (portability) 5. Ordinary (heavy and bulk)

6. Innovative 6. uncreative

7. Modification 7. Cannot be modified

8. Up gradable 8. Cannot be up grade

9. Customize 9. Standard

10. Market strategy 10. Market strategy

11. Multiple use 11. Only for one use

12. Reliability 12. Reliability

13. Product value 13. Product value

14. Validity 14. Validity

15. Sustainability 15. Sustainability

16. Less place consume 16. More place consuming

17. Offensive 17. Defensive

18. Good quality 18. Better quality

19. Less Variety 19. Variety

20. Easy to carry 20. Not easy to carry

21. Easy to use 21. Easy to use


22. Manufactured by steel 22. Manufactured by wood/plastic

23. Less availability 23. Availability

24. Brand (Mod Living) 24. Brand (furniture market)

MARKETING SEGMENTATION

Market segmentation requires dividing a market into smaller segments with distinct needs,

characteristics, or behaviors that might require separate marketing strategies or mixes

Target market

We are providing luxurious portable furniture to stand out the competitors.

We have planned to build strong supply chain to small shops and stores and stock holding benefits so it

remains in the interest of suppliers, retailers and then shopkeepers, which can give easy access to
targeted consumers/customers. MOD LIVING’s product is not for daily use and it is not for

consume, this in not basic need product and its concern is not with mass marketing. In

demographic factor we mention that income of individual should be Rs. 30,000/- or 30,000+

and targeting class is upper middle and middle that’s why based on Market segmentation we

conclude that For MOD LIVING target market is “Differentiated”

IMPLEMENTATION OF STRATEGIES:

Target Market Strategy:

We don’t limit our target audience we are open to entertain everyone who can afford it and

anyone that has a unique and fine taste of imagination. We are creating a sense of want and

imagination in the minds of our consumers.

Cost Leadership Strategy:

The cost leadership strategy focuses upon being the lowest cost producer in the industry. The

sources through which company get its cost advantage varies and depends upon the structure of

the industry. It simply means being the leader in terms of cost in your market.

Branding strategy:

Portable furniture house will slowly build up brand awareness for their name and logo. As our

brand is new so will takes almost 2 years to stand out in the market. We will make sure that our

brand includes all such things that will make it unique through direct and indirect advertising and

by creating a style that will match upon its characteristics.


Product strategy:

This house offer unique selling point (USP) by differentiating our product from its competitors,

such as the lowest cost, better quality and easy to carry products.

1 Advertising strategy

Social media marketing:

We will advertise by creating Facebook pages and sharing it with maximum number of people

possible

Personal Selling:

We will also do door to door personal selling to create awareness and to attract consumer who

usually purchases these kinds of stuffs

Pricing strategy:

The pricing strategy we adopted for is market price. We are launching Portable furniture at the

lowest price possible, giving us an edge over the competitors who already exist in the market.

The price is as low as it only covers our product cost.


Promotional strategy:

For promoting our products we have decided to use the social media as a platform for promoting

and advertising our products because our targeted customers is adults and in today’s world

almost every adult prefer to use social media in order to connect with the latest technologies

information. Secondly, Brochures are also distributed in order to create awareness among the

people.

Direct marketing strategy:

We will also use direct marketing of advertising where we will communicate directly to our

customers through a variety of media like cell phone or by text messaging, by sending details

about our products through targeted customers emails and by promoting through a pop up

messages appeared on a websites

Financial Plan:

As Mod living is new in market Mod living don’t have any financial statement like income

statement of balance sheet etc. but Mod living have data of its cost and expenses of needed raw

material. Mod living is using market penetration strategy so Mod living’s production is low as

compare to their competitors. As above mention Mod Living is new in market so Mod living is

focusing in producing two products (portable chairs and mini closet). Here is the list of Mod

living’s cost and expenses.


Raw material (cost and expenses) of Portable chair:

● 2 folding clips Rs. 120 x 2 = 250/-

● 6 Ribbed washer Rs. 60 x 6 = 360/-

● Colors Rs. 100/- each

● 4 Rubber Rs. 30 x 4 = 130/-

● Iron pipe ½ Rs. 100/- each

● Iron pipe ¾ Rs. 100/- each

● Ply board Rs. 70/- each

● Foam Rs. 50/- each

● Regzeen Rs. 70/- each

● 9 Fitting screw Rs. 30 x 9 = 180

● Labor charges Rs. 160/-

● Transport charges Rs. 100 each/-

Total Rs. 1500

Raw material (cost and expenses) of Mini closet:

● Iron pipes Rs. 600/-

o 6.5 inches 20 pipes

o 9.5 inches 12 pipes


o 22.5 inches 12 pipes

● 10 Plastic knobs Rs. 30 x 10 = 300

● Iron wire 14 number Rs. 100/-

● Iron color Rs. 200/-

● Cloth 2.5 meter Rs. 400/-

● Zip, pipping, thread Rs. 200/-

● Total labor charges Rs. 500/-

● Transport charges Rs. 100/-

Total Rs. 2400

Initial investment:

● Rs. 4000/-

Revenue

For example MOD LIVING have produced 2 products one chair, one mini closet price per chair

will be Rs. 1700/- and price per mini closet will be Rs. 2700/-

Chairs 1700 x 1 = 1700

Mini closet 2700 x 1 = 2700


Total revenue Rs. 4400

PHYSICAL EVIDENCE:

Marketing And Sales Department:

The tasks of this department and activities will be overlooked by two members and will be

responsible in developing marketing activities which will be aligned with our company’s

strategy. Planning made for marketing activities targeting potential customers to introduce our
product and organizing marketing campaigns through digital marketing by designing a Facebook

page.

Finance Department & Operations Department:

The tasks of this department will be carried by two members whose responsibility towards this

department to maintain strong financial position and to develop financial reports, like Profit and

Loss statement, Balance sheet and Ratios which will help to maintain long term stability of a

company. The purpose of this department is to monitoring a company’s finances and give ideas

about how to maximize our profits.

Operational department is also under this member the responsibilities towards this department to

overlook the day -to -day or monthly operations of a company like overseeing the production of

goods and to make sure the company working smoothly and efficiently to meet customer’s

requirements or needs. The role of operation will vary but mainly observes the efficiency of

production and manages the day -to -day activities.

Operational Plan:

Operational plan describes the day-to-day workflow of business, as strategy describes the goals

and mission of our company but, operational planning goes side by side to accomplish the

outcomes defined by strategy. It simply states conversion of strategy into execution of work and

it deals internally with the production of your product and resources. We will use our Facebook

page to advertise our products which increase our sales, most of our products are to maximize

our profits.
Conclusion:

We are four partners that are jointly in a partnership starting a business of portable furniture. We

all decided to use iron pipes to make our products. It's would be affordable and light weighted.

The main purpose of this business is to provide beauty and comfort to consumer. We want to

change the concept of buying expensive furniture, which is not just expensive but also a normal

looking products. We are providing our consumer with an attractive looking product than any

other expensive brands would provide them. Also this furniture requires low maintenance, looks

beautiful and is extremely durable.

We have a few prototypes to make it easier for our consumers is have a look at what type of

products we are working on. We are also working on our page on where you can see the pictures

and all the details are provided there along with the contact number being mentioned,

customization can also be done. Our mission is to provide to our consumers by giving them

innovative and eye catching furniture.

We will be using the light weighted iron pipes to make all products. The wooden furniture

industry represents 95 percent of the total market. The main purpose of this business is to utilize

it placing them in lounges, bedrooms and giving them as a gift to those who loves travelling

because all our products would be light weight and people can single handedly carry them. The
design adds a fashionable and a wow factor. It finds its role in the smaller, large, casual and

miscellaneous places, sometimes referred to as "Compact furniture".

Also this furniture requires low maintenance, looks beautiful and is extremely durable. The main

purpose of this business is to provide beauty to consumer through that our furniture. We want to

change the concept of buying expensive furniture, which is not just expensive but also a normal

looking furniture. We are dealing with iron pipe where we are using it in producing light

weighted furniture that is innovative. Our motive is to provide our consumers better quality

innovative furniture. This will not only add value eye catching beauty in your bedrooms, living

rooms and even offices, with an exotic look like the one of an interior decor. We don’t limit our

target audience rather we are open to entertain everyone because everyone will afford it and

anyone that has a unique and fine taste of imagination. We are creating a sense of want and

imagination in the minds of our consumers. Our industry that we are working on is portable

furniture.

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