Presentation on theme: " Identified a problem and a gap in the market from personal experience. Worked towards a USP and design. Identified a target market. Created CAD."— Presentation transcript:
Identified a problem and a gap in the market from personal experience. Worked towards a USP and design. Identified a target market. Created CAD (Computer Aided Design) after market research.
The product is designed to prevent losing score during a tennis match. There are two buttons in order to score a point each time you win or lose, you simply press a button on the device that is either in your pocket or attached to you shorts/skirt.
Identified our target market as middle age/elder members of tennis clubs. Showed them the design and colour range, and asked whether product would be of interest to them. Feedback was positive; liked product would buy dependant on price. Market is growing as many more people are playing tennis. Competition are the non-portable score keepers manufactured by ‘EZ-Score’ and ‘Prodirecttennis.com’
Identified USP as a ‘portable, durable and high quality score keepers for use during a tennis match/game situation.’ We acknowledged that the USP would need to be promoted and we decided that we would tap into major sports retailers. We would start by increasing brand identity and product awareness by advertising to local clubs (target market).
Business Name: Score Keepers Products/Services: Portable/high quality score keepers. Business Classification: Private Limited. Plan for next 5 years: Launch internationally. Company Values: High quality products. Businesses Base: Hastings Initial Investment: £10,000 from bank and £10,000 initial capital invested by ourselves.
Aims: Increase brand identity. Expand internationally. Specifically isolate target market. Create score keeping devices for other sports. Objectives: Advertise in tennis clubs and shops windows. Generate enough profit to expand. Branch into major tennis tournaments e.g. Wimbledon Successfully secure a considerable profit in order to afford market research into other sports and score devices.
Private Limited Company (limited liability) Flat structure business
We would go to the banks to fund the sufficient start up money. We would invest in: Rent for company base. Starting up of the businesses accounts and website/ furniture for company base. Prototype manufacturing. Research into the most materials and product lifecycle. Advertising.
We will get a company in China to source and manufacture the product: Total expenditure per unit is broken down into: Key ring – 4p Plastic for casing (Polyethylene Terephthalate) - £1 Plastic for screen (Polyvinyl Chloride) – 15p Electronics for device – 31p