Friday, 22 January 2010
UPGRADING PRODUCT
Upgrading Product
There are a few elements that will be added in our product in the future. Below are the list of elements that will be added in HCard
+ Safety Feature
1. Pager
The product will be added with device so it can be functionally like a pager so that the owner can find it easily in case of misplacing it.
2. Back Up Software
The cards owner can register with the company to back up their cards. Therefore, if accidents happen such as robbery, the company can restore bace al the applications for the customer. The card holder also can do this back up software by themselves because this back up system is via the web.
+Warranty
The warranty is depends on our company terms and conditions.
+ Car Key
This new application will be introduced to the market after a complete research being done.
+Others
Our company will added new applications and features in time to time according to the market request
PROJECT PLAN
PROJECT PLAN
PRODUCE NEW PRODUCT
ATM Machine
This product will be in the market soon after the main product, H-Card enter the market. This product is an aid for the ATM machine so that the H-Cards holder can use their bank cards. As we already know, the H-Card is quite thick, thus it cannot fit to the slot of any ATM machines. However, the H-Card is build with RFID (Radio Frequency Identification Reader). Therefore, we are introducing a new feature of ATM machine, with a little alteration; that is ATM machine with the RFID.
The new ATM machine will allow the H-Card holder to withdraw money and many more. The H-Card holder just need to touch their card on the RFID and after that, the ATM machine will operates normally. This feature is similar like in our library entering system.
Navigator & Compass
People nowadays get lost easily. Thus, we have a plan to make a new product for navigation purposes. This product will be very simple, light and user friendly. We can consider it as the cheapest GPS ever in the market. Also, it will have function of compass. However, this product is still under progress and need further research.
HIRING NEW EMPLOYEES
Each company needs more employees in order to run and expanding the company. We are going to hire a few persons at the beginning of 2010 as we have to make sure the product is well known. For that reason, we really need persons to help in promoting our product.
As the time passes and the product will be well known, we will need more workers for every department. In addition, during the second half of 2010, we are going to make an agreement with other companies. Hence, we require having a person who can deal with them.
MARKETING
We plan to promote our product in other region within three years. We will start to market the product in Wales and Northern Ireland by June 2010. If necessary, we will have a branch or franchise in that country.
We will focus on the European countries soon after that. Hopefully we can start with France by mid April 2011, Germany and Poland by May 2011 and Spain and Italy by the end of 2011. If all are succeeding as planned, we will move on to other region such as Asia and America.
CO-OPERATION WITH OTHER COMPANY
Co-operation with other company is vital for our case. It is because our product relies on and associates with others such as transportation, banks, and supermarkets. We have to make sure that H-Card can be applied for it. For example, the ATM machine for banks needs some alteration in order to H-Card holder allowed to use it.
We also will co-operate with some luxury cars companies. It is because we are going to put more features in the H-card, that is, a car’s key. They can use H-Card by swiping it at the car’s door. This idea already bring in the market but not widely used yet.
PROMOTIONS
The promotions and publications will be taking part for the whole years. Refer to the UPGRADING PLAN Entry
PRODUCE NEW PRODUCT
ATM Machine
This product will be in the market soon after the main product, H-Card enter the market. This product is an aid for the ATM machine so that the H-Cards holder can use their bank cards. As we already know, the H-Card is quite thick, thus it cannot fit to the slot of any ATM machines. However, the H-Card is build with RFID (Radio Frequency Identification Reader). Therefore, we are introducing a new feature of ATM machine, with a little alteration; that is ATM machine with the RFID.
The new ATM machine will allow the H-Card holder to withdraw money and many more. The H-Card holder just need to touch their card on the RFID and after that, the ATM machine will operates normally. This feature is similar like in our library entering system.
Navigator & Compass
People nowadays get lost easily. Thus, we have a plan to make a new product for navigation purposes. This product will be very simple, light and user friendly. We can consider it as the cheapest GPS ever in the market. Also, it will have function of compass. However, this product is still under progress and need further research.
HIRING NEW EMPLOYEES
Each company needs more employees in order to run and expanding the company. We are going to hire a few persons at the beginning of 2010 as we have to make sure the product is well known. For that reason, we really need persons to help in promoting our product.
As the time passes and the product will be well known, we will need more workers for every department. In addition, during the second half of 2010, we are going to make an agreement with other companies. Hence, we require having a person who can deal with them.
MARKETING
We plan to promote our product in other region within three years. We will start to market the product in Wales and Northern Ireland by June 2010. If necessary, we will have a branch or franchise in that country.
We will focus on the European countries soon after that. Hopefully we can start with France by mid April 2011, Germany and Poland by May 2011 and Spain and Italy by the end of 2011. If all are succeeding as planned, we will move on to other region such as Asia and America.
CO-OPERATION WITH OTHER COMPANY
Co-operation with other company is vital for our case. It is because our product relies on and associates with others such as transportation, banks, and supermarkets. We have to make sure that H-Card can be applied for it. For example, the ATM machine for banks needs some alteration in order to H-Card holder allowed to use it.
We also will co-operate with some luxury cars companies. It is because we are going to put more features in the H-card, that is, a car’s key. They can use H-Card by swiping it at the car’s door. This idea already bring in the market but not widely used yet.
PROMOTIONS
The promotions and publications will be taking part for the whole years. Refer to the UPGRADING PLAN Entry
FINANCIAL DEPARTMENT
FINANCIAL PLAN
In 2010, we start our business with the capital of ￡500,000 to build factories and office. It comes from bank loan, shareholders, investment and so on. We run office and factories for 10,000 hours in the first year and estimate that we manufacture the number of units which make the ￡30 profit per one hour. Fixed cost is around 3 million pounds, including factories & office rent, electricity and wages & salaries. However, the company is imposed around 30 percent tax. Therefore, the total sale revenue is subtracted 30%. Based on this, we can expect that the total sales revenue will be ￡3,000,000. When we run the office and produce outputs, costs roughly ￡2,500,000 are caused. In the first year, we expect net profit which is the total sales revenue – fixed costs – variable costs – other liabilities (loans & mortgage and etc.) = -￡500,000
The graph above illustrates the total sales revenue and total cost graph from 2010 to 2012. Fixed cost remains the same level during the period of time. The graph below is about net profit which is the total sales revenue – total cost.
As depicted in the total sales revenue and cost plot, we have the break-even point, which has no vertical distance between lines (the total sales revenue equals total costs) and there is no profit or loss in 2011. At break-even point, if we call the number of units of output “b”, (b*sales revenue per unit) – (b*variable costs per unit) = Fixed costs. However fixed cost is roughly about 3 million pounds. In 2011, we expect that the company will produce 0.6 million units. Therefore 3 million pounds / 0.6 million units = 5 pounds. When variable cost per unit is ￡25, ￡30 per unit will be appropriate for the price of the device.
In 2012, the company starts to make profit, which is ￡200,000. In a result, the company decides to expand the number of staff and produce more goods since demand will far more increase. We lend mortgage, ￡1,000,000 from banks and investors to secure more funds. We will return money, a million pound + 3% interest, in 10-year installment.
MARKETING STRATEGY
MARKETING
Long Term Plan
For the long term plan, we planned to do more events such as campaigns and advertising to introduce our product to more people. We also would try to find more sponsors for our events so that we could have more budgets to spend on our marketing strategy.
For the long term plan, we planned to do more events such as campaigns and advertising to introduce our product to more people. We also would try to find more sponsors for our events so that we could have more budgets to spend on our marketing strategy.
Marketing Strategy
The first step for the marketing department is to add more workforces for our future marketing events
Campaign
Events
Advertising team
Surveyor for our product
Team to find sponsors
Recruiting
Advertised vacancies position in our marketing department in the newspaper and the websites
Choose the best candidates that have the best interview
Marketing Activities
Marketing department will be divided into few groups depends on the activities.
There is a group of marketing members that will be known as surveyors. The surveyors will do surveys to our target groups in a busy area, such as supermarkets, banks, offices, universities and shopping malls. We also will advertise about our survey and ask a few questions to the candidates and will give rewards if they done the survey. Our targets are all age ranges but we will be more specific to business men as they are more potential. The objective of this activity is to know about what the targets think about our products. Other than that, this activity also can introduce the H-card to our targets.
The other activity that the marketing department will do in the future is to find sponsors for our future events and for our H-card production. The sponsors will be from big organizations and will sponsor budgets for our upcoming events and productions. We will also try to make collaborations with others companies that have potential to help us, such as Tesco, banks, public transports companies and oil station companies. Use cards (put in our H-Card)
The main activity for the marketing departments is to do a lot of events to introduce our new product to the market. There will be a group that will be responsible to do the advertisements and teams that responsible on the campaigns. For the advertisements, we will do commercials throughout all Medias, such as television, radios, boards and newspapers. There will be also a free brochure that will be given to houses in order to inform to all targets. Our campaign will probably be done at the busy places, such as shopping mall, universities, offices and participate in big events (booth).
There is a group of marketing members that will be known as surveyors. The surveyors will do surveys to our target groups in a busy area, such as supermarkets, banks, offices, universities and shopping malls. We also will advertise about our survey and ask a few questions to the candidates and will give rewards if they done the survey. Our targets are all age ranges but we will be more specific to business men as they are more potential. The objective of this activity is to know about what the targets think about our products. Other than that, this activity also can introduce the H-card to our targets.
The other activity that the marketing department will do in the future is to find sponsors for our future events and for our H-card production. The sponsors will be from big organizations and will sponsor budgets for our upcoming events and productions. We will also try to make collaborations with others companies that have potential to help us, such as Tesco, banks, public transports companies and oil station companies. Use cards (put in our H-Card)
The main activity for the marketing departments is to do a lot of events to introduce our new product to the market. There will be a group that will be responsible to do the advertisements and teams that responsible on the campaigns. For the advertisements, we will do commercials throughout all Medias, such as television, radios, boards and newspapers. There will be also a free brochure that will be given to houses in order to inform to all targets. Our campaign will probably be done at the busy places, such as shopping mall, universities, offices and participate in big events (booth).
PRODUCT
HCARD
INTRODUCTION
The H-Card is a versatile or multipurpose card with so many functions. So instead of having to carry so many ID, credit or debit cards or even money in your wallet you have the H-Card for all of that.
The H-Card can be used by all types of people all age grades. This product will expand from the United Kingdom and go worldwide.
This product will also come with a better security than any other card. Because it is an electronic device it saves us a lot of usage of paper which is very economical.
PRODUCT
The features of the H-card includes
Display touch screen to choose the particular card you want to use.
Radio frequency identification reader (RFID )
USB connection to connect it to the computer
Chip and also a memory card slot.
COMPANY ORGANISATION
COMPANY ORGANISATION
Marketing Director
Project Manager
Haerok Kim
Marketing Director
Ruzanna Razali
Research
Norhanis Sholihan
Technicality
Yuxi He
Finance
Sungil Shin
Documentation
Sotonibi Daminabo
ROLES
Project Manager
The project Manager coordinates the whole team supervising and make sure everything is going according to plan.
Marketing Director
Deals with the marketing of the product that is how the product is going to sell in the economy, location, advertisement, etc
Research
Deals with finding out all the information concerning the product what the obstacles that we might face ahead of time with the product and all sorts of research in any thing we may need.
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