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    (J) Final New Bag Product

    Uploaded by

    Jason Suen
    The document summarizes an "Omnipotent Bag" project created by group members Chui Lok Man, Chung Hiu King, and Suen Man Kit. The reusable shopping bag is made of canvas and has innovative "Keep Cool" and "Keep Warm" functions. It also has a waterproof cover and adjustable straps. The group conducted research and aims to target Generation Y in Hong Kong. Their marketing strategy includes a DIY design feature, competitive pricing of $100 per bag, and online and in-person sales channels. The group's objective is to sell 10,000 bags over the summer.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    (J) Final New Bag Product

    Uploaded by

    Jason Suen
    73 views20 pages
    The document summarizes an "Omnipotent Bag" project created by group members Chui Lok Man, Chung Hiu King, and Suen Man Kit. The reusable shopping bag is made of canvas and has innovative "Keep Cool" and "Keep Warm" functions. It also has a waterproof cover and adjustable straps. The group conducted research and aims to target Generation Y in Hong Kong. Their marketing strategy includes a DIY design feature, competitive pricing of $100 per bag, and online and in-person sales channels. The group's objective is to sell 10,000 bags over the summer.

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    (J)Final New Bag Product

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    The document summarizes an "Omnipotent Bag" project created by group members Chui Lok Man, Chung Hiu King, and Suen Man Kit. The reusable shopping bag is made of canvas and has innovative "Keep Cool" and "Keep Warm" functions. It also has a waterproof cover and adjustable straps. The group conducted research and aims to target Generation Y in Hong Kong. Their marketing strategy includes a DIY design feature, competitive pricing of $100 per bag, and online and in-person sales channels. The group's objective is to sell 10,000 bags over the summer.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    73 views20 pages

    (J) Final New Bag Product

    Uploaded by

    Jason Suen
    The document summarizes an "Omnipotent Bag" project created by group members Chui Lok Man, Chung Hiu King, and Suen Man Kit. The reusable shopping bag is made of canvas and has innovative "Keep Cool" and "Keep Warm" functions. It also has a waterproof cover and adjustable straps. The group conducted research and aims to target Generation Y in Hong Kong. Their marketing strategy includes a DIY design feature, competitive pricing of $100 per bag, and online and in-person sales channels. The group's objective is to sell 10,000 bags over the summer.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
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    Group member Chui Lok Man 53106860 Chung Hiu King 53106649 Suen Man Kit 53105407

    Introduction

    Omnipotent Bag

    Reusable shopping bag Material : Canvas Innovative function* : Keep cool or Keep warm The product/market expansion grid: Product development Idea: Reusable shopping bag is really popular for youth in Hong Kong create a dream bag which offer the different needs of youth https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ3 8j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharing#

    The value of product


    D.I.Y design your dream bag Having 3 wearable methods Giving the waterproof and transparent plastic cover Having a zipper Having many secret bag in Omnipotent Bag The bag can folded into a small shape whatever you want ( two buttons to regulate the size of the bag near the zipper) e.g. long champ The bag can adjusted the length of the belt of the bag

    Buttons regulate the size of the bag

    Innovative function Double Keep cool or Keep warm


    Cold compress We put this reusable device into the internal bag
    1. Users have to crush the internal bag 2. Shake until the gel inside being well mixed 3. Wait for 5 seconds Keep cool:

    It can exert cooling function and drop as minus five to ten degrees
    Keep warm:

    Boil for 4-5 minutes


    Aluminum Foil Silver Lining and PVC The internal bag have been material added these that can keep the temperature

    Result of questionnaire research

    Competitor : Product Comparison

    Competitor Jack wills Muji Omnipotent Bag

    Features & uniqueness


    Practical, Brand effect

    Selling place
    Flagship store Flagship store

    Practical, Natural

    Practical, D.I.Y design, Online shopping Waterproof, Multiple function

    Opportunity
    Innovative function (other brand havent e.g. Jack wills, Muji) Fashionable than another reusable shopping bag ( D.I.Y/ Provide update patterns, pictures & design for reference) At the same pricing, more function Occupy a big part of this type of product of market share

    Macro-environmental Political Forces


    Demographic Forces
    The Youth Population SME Funding Schemes Government grants fifty thousand for SME Grant of the patents

    Economic Forces
    Inflationary trends Employment level Median Monthly Income

    Technology Forces
    Reusable

    cold compresss theory

    Omnipotent Bag in Hong Kong Market

    Segmentation, Targeting & Positioning


    Segmentation & Target Market (Multi-Segmentation) 1.Geographic Fixed on city (Hong Kong) 2.Demographic Generation Y Occupation (Students) 3.Psychographic Generation Ys personality characteristics: Peer-Effect

    Targeting

    Differentiated (segmented) marketing


    We target several market segments Design separate offers for each e.g. D.I.Y design different design based on different customer Benefits: capture more market share & use less resource than Undifferentiated marketing

    Positioning
    Position Map =Omnipotent Bag

    Competitive advantages

    Innovative function Keep cool or Keep warm Waterproof Provide superior customer value

    Selecting an Overall Positioning Strategy


    The value proposition on our product:

    More for the same


    (offer comparable quality at a same price)

    Objective
    Expend the market share Time: this summer ( May September) Target : Sell 10000 units

    Target
    4000 3000 2000 1000 0
    3400 3400 1350 250

    1600

    Product

    Quality
    Use high quality canvas
    Waterproof and limpid plastic

    Design
    Design by yourself (D.I.Y)
    Optional printing pattern

    Feature
    Keep warm and keep cold
    Suit for summer and bring it to

    outdoor activities

    Price

    List Price
    $100

    Market-penetration pricing
    Set a low initial price in order to penetrate

    the market quickly and deeply

    Discount
    Buy 2 get 5% off

    If there are a lot of stocks

    Promotion

    Advertising
    Open facebook fans page
    Post a lot of photos about

    products Post some videos on Youtube

    Sales promotion
    Recommend a friend to buy who

    can get $5 cash coupon

    Place

    Channel
    Online shop

    Coverage
    Facebook, Instagram Many people like online shopping

    Inventory
    A mini warehouse

    Trading Method
    Face on face (in MTR) Send by post registered parcel (+$18)

    Control
    Provide different colors Waterproof and limpid

    plastic Buy one bag get 3 cold compress Group buying

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