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3D dressing mirror machine (1)
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- 2. Problem Statement: 1. Customeris unable to find their size. 2. Body image and pressure. 3. Staff lack of experience in providing advices. Proposed Solution: 1. 3D dressing machine scan customer body and provide the right size. 2. Saving time in dressing room. 3. Professional designer visit weekly/monthly INtroduction:
- 3. INtroduction: Business Vision Vision statement“Our machine is designed to provide our customers with the power to innovate and increase efficiency”. Business Mission Mission statement “Our machine is designed to innovate, differentiate, and improve daily efficiency of sales, while satisfying the customers”. INtroduction:
- 4. ProjectDeliverables Website - The companybackground information - How the 3d dressing is used Social media +Email - reflection of the official company website - Target 500-1000 in one year
- 5. 1. notyetimplemented intheStateofKuwait. 2. well-knownworldwidebrandsareavailable intheshoppingmallsin Kuwait. 3.increasetheopportunitytosellourproductinKuwaitonregularbasis. RelevancetoKuwait
- 6. Opportunity -customer save timeand enjoy. - increase sales and revenue. -professional designer consultant. CustomerSegment Main focus: S M
- 7. Innovation A.New idea inthe society of kuwait. A.Customer can choose freely without constant worry. A.3D dressing machine(mirror) connected with the information system of the shop, immediately register information.
- 8. SocialResponsibility - Body image -Save time - No more dressing and undressing - Free to choose
- 9. BusinessModelSustainability Revenue: First year: 670,000 Secondyear: 504,000 Third year: 450,000 Total Revenue : 1,624,000
- 10. BusinessModelSustainability Cost: First year: 377,500 Secondyear: 314,500 Third year: 293,500 Total cost for the three years: 985,500 Total cost for one time:90,000
- 11. BreakEven SR in 1stYear T.Fc & T.VC = BE( Net Profit) BusinessModelSustainability
- 12. Problem -Sizes not available -body image -stafflack of experience Solution -3D dressing mirror machine - Save time -professional help UniqueValueProposition -First time in kuwait -no competitor( so far) UniqueAdvantage -still new idea and first -once known there might be rivals in the future Customer Segments - Small to Medium shops. -Targets smallKeyActivities Advertisement in kuwait Channels: Available in showing rooms + Delivery CostStructure COGS(Materials, labor costs)+office and show rooms rent exp+ Salaries Exp RevenueStreams Purchase of the machine for first time Rent income for these who are willing to lease the machine
- 13. ProgresstoDate 1. Group arrangement 1.Convincing customers 1. Prices and machines number based on customer opinions 1. By the following previous steps we made our SWOT analysis.
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Editor's Notes
- #3 Problem Statement The main reason of the idea of implementing the machine in Kuwait is due to the below issues faced by the people in Kuwait: The obstacles that the customers are facing in finding clothes that fit their bodies. The pressure that the fitting rooms in the clothing shops are facing, which will urge other customers to leave the shop without buying any clothes. Lack of experience of the staff in the shops, which are not providing proper advice to the customers. Proposed Solution Our Machine will solve the above issues as follows: The 3D Dressing Machine will solve the issue by properly and effectively identifying the exact size needed to the customer, and this is done through the machine which will scan the body to identify the needed size. The 3D Dressing machine will improve efficiency, since the customer will stay in the room only 5 minutes to identify the size of the clothes, and this will improve efficiency, and allow more customers to try more clothes. The 3D Dressing Machine is built in a way to act professionally and satisfy the customers. In addition, a professional designer will visit the customer on Weekly/Monthly basis to provide advices to the customers. We want to use the business plan 3D Dressing Machine as our passion because we want people in Kuwait to experience things they did not see before. Our project is designed to give customers freedom to choose what they like and feel comfortable with, while heavily relying on this machine to make things more easy. The 3D Dressing Machine is developed in a way that can identify the size of the customer and link it directly to the system to check the available items that perfectly fit the body of the customer. Our project also helps customers not waste time when they pick clothes, they do not need to go from shop to shop to get clothes, everything will be available in the 3D dressing system. This system will allow customers to feel safe and comfortable with their choice. Our plan will help many people who have difficulties in knowing what to wear, it will help them choose what they want specifically by their choice, they will choose the colors size and design. We targeting to increase the sales volume of our main customers (Clothes Shops).
- #4 Business Vision Vision statement “Our machine is designed to provide our customers with the power to innovate and increase efficiency”. Business Mission Mission statement “Our machine is designed to innovate, differentiate, and improve daily efficiency of sales, while satisfying the customers”.
- #5 Our Key Project Deliverables are going to be the following: 1. Advertising by using the social networks. 2. Milestone represent the approval of the product.( go the milestone high level) 3. Training program for the employees. 4. Company events to show the customers that we care. High Level Milestones 1. Project initiating 2. Project Planning 3. Project executing 4. Project Monitoring and Controlling 5. Closing Project Deliverables Project Report and Business Proposal: All sections must be complete Must conform to the requirements specified in the “Work Break down Structure” below. Website -The website will include the background information on the company, vision, mission, and the main objective of the business as mentioned above in the project objective section. In addition, the website will include a description on the 3D Dressing Machine and how to use it effectively and efficiently. -The website also will have feedback option, and the gathered feedback will be reported to the owners of the company. -The website also will include a small video on the options available within the machine and how to use it, and the advantages of the machine. Social Media Pages (Instagram Will reflect the corporate identity of the business taken directly from the company’s official website. We will target to have 5000-10000 followers in the first year, and will increase the number in the upcoming years once the users of the machine are aware of the machine, and this will put more pressure on the clothes shops to purchase the machine in order to properly compete in the market.
- #6 The machine is not yet implemented in the State of Kuwait. However, most of the well-known worldwide brands are available in the shopping malls in Kuwait, which will increase the opportunity to sell our product in Kuwait on regular basis.
- #7 Our project will help customers save time, and pick out carefully what they want without worrying about the features. This machine will provide both the shops (which are our customers) and the customers of the clothes shop to have more opportunities to achieve their objective as mentioned above in the project overview. Most importantly, our 3D Dressing Machine will provide our customers (Clothes shops) to increase the sales volume and sales revenues accordingly. Our customers are mainly all the medium to large clothes shops in Kuwait, across all the shopping Malls. In addition, we will provide our customers with consultant who is specialist in the design, who will visit our customers on specified date each week to provide the support and advise the customers, which increase the confidence and trust among the customers. Customer Segment Our main focus will be on the medium to big size Shops in the Malls. In addition, we will target the small shops by providing a leasing option to these customers for the machine.
- #8 This machine (3D Dressing Machine) is considered one of the innovative ideas that is not yet implemented in the State of Kuwait. This machine will prove to the customer the innovation of the machine, by automatically selecting the size that fits his/her body and is available currently in the shop. The 3D Dressing Machine is connected to the information system in the shop, which will automatically scan the body of the customer and will transmit the information from the machine to the information system in the shop in order to identify the available items that fit the body of the customer.
- #9 The customer won’t worry about their body image, and it will help save time instead of dressing and undressing all the time, and it will increase people self-esteem, and the machine will provide the customers with the available options to be efficient and pick up the required clothes immediately.
- #10 We will conduct several advertising campaigns in the Avenues Mall and Marina Mall for the product “3D Dressing Machine”, in order to explain and show the customers the facilities that the machine is capable of, and the added value that the machine will provide to the customers and to the shop owners. The advertisement campaign will be during a period of one month. In addition, we will develop a website which will include the overview of the company and a description over the machine, facilities, and price of the such machine. Based on the above, we are expecting to sell approximately 75 machines during the first year, and the major customers will be the reputable clothes shops in Kuwait. As for the other shops in Kuwait that are not capable to purchase such machine, we are expecting to have 120 machines rented out to those shops during the first year, as this will generate rent income on the usage of the machine to the customers. We are expecting to sell approximately 75 machines during the first year, which is expected to decrease in the subsequent years, due to the fact that most of the famous shops are expecting to purchase the equipment during the first year and once it is introduced. The life of the machine is expected to be 5 years, and then the customers will again visit our stores to purchase another machine. On the other hand, we are expecting to have approximately 10 - 15 shops renting the machine from us during the first year, and this is expected to increase in the second year, once the product is well known in the market, and will increase the number to approximately 18-20 shops in the second and third year. The machine will attract more customers to the clothes shop, and therefore the owners of the shops will ensure that the machine is properly maintained. Break Even The sales revenues in the first year exceed the total fixed costs and total variable costs, therefore we are expecting to attain the break even and exceed that, by earning net profit from the first year of operations, and this is due to the unique equipment which will attract a lot of customers even at high price, due to the added value of the machine.
- #13 Problem Sizes not available -body image -staff lack of experience Solution -3D dressing mirror machine - SAve time -professional help Unique Value Proposition: The machine is still new in Kuwait, hence we are not expecting a current competition in the market, but this will change in the near future, once the machine is well known in the market. Unique Advantage The machine is still new in Kuwait, hence we are not expecting a current competition in the market, but this will change in the near future, once the machine is well known in the market. Customer Segments medium to big size Shops in the Malls. In addition, we will target the small shops by providing a leasing option to these customers for the machine. Key Activities In order to introduce our Machine into the market. We will do advertising campaign in the major malls in Kuwait, such as Avenues Mall, Marina Mall and 360 Mall. In addition, we will use the social media, such as Instagram and Facebook in order to advertise the machine properly. Channels The machine is available in the show room, and will be delivered for free to the customers in the shopping malls. Cost Structure The main expenses will be incurred on the following items: Cost of goods sold, which include the materials and labour costs to construct the machine. Office and show room rent expenses, Salaries expenses. Revenue Streams Our company will focus mainly on two revenue streams, which are as follows: Purchase of the machine for the first time. Rent income for the customers who are willing to lease the machine.
- #14 The activities we have done from the begging of the semester till now is building our ideas up and making sure that each assignments is perfectly done. Creating unique and innovative ideas on how the business should work in the future.