(J)Final New Bag Product

7/30/2019 (J)Final New Bag Product

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Group memberChui Lok Man 53106860

Chung Hiu King 53106649

Suen Man Kit 53105407


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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 foryouth in Hong Kong create a dream bag whichoffer the different needs of youth

https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ3

8j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharing#
http://www.google.com.hk/url?sa=i&rct=j&q=Canvas&source=images&cd=&cad=rja&docid=7QF665TEUs1Q4M&tbnid=MZLezgIFRVipAM:&ved=0CAUQjRw&url=http://www.photo-dictionary.com/phrase/4900/hessian-canvas.html&ei=qQNjUcjpI6yaiAeqrYH4Bw&psig=AFQjCNF7d98Z3rymCPYYLxciPSoYREw9VA&ust=1365529869424995http://www.google.com.hk/url?sa=i&rct=j&q=Canvas&source=images&cd=&cad=rja&docid=7QF665TEUs1Q4M&tbnid=MZLezgIFRVipAM:&ved=0CAUQjRw&url=http://www.photo-dictionary.com/phrase/4900/hessian-canvas.html&ei=qQNjUcjpI6yaiAeqrYH4Bw&psig=AFQjCNF7d98Z3rymCPYYLxciPSoYREw9VA&ust=1365529869424995https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttp://www.google.com.hk/url?sa=i&rct=j&q=Canvas&source=images&cd=&cad=rja&docid=7QF665TEUs1Q4M&tbnid=MZLezgIFRVipAM:&ved=0CAUQjRw&url=http://www.photo-dictionary.com/phrase/4900/hessian-canvas.html&ei=qQNjUcjpI6yaiAeqrYH4Bw&psig=AFQjCNF7d98Z3rymCPYYLxciPSoYREw9VA&ust=1365529869424995https://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharinghttps://docs.google.com/forms/d/1HcEIKX6rUBV2vQ38j2-9ic-FioZwga_CIfNlUR9X3eg/edit?usp=sharing


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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 whateveryou want

( two buttons to regulate the size of the bag nearthe zipper)e.g. long champ

The bag can adjusted the length of the belt of the

bag


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Buttonsregulate the size of the bag


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Innovative functionDouble Keep cool orKeep warm

Cold compressWe put this reusable device into the internal bag1. Users have to crush the internal bag2. Shake until the gel inside being well mixed3. Wait for 5 seconds

Keep cool:

It can exert cooling function and drop as minus five to tendegrees

Keep warm:

Boil for 4-5 minutes Aluminum Foil Silver Lining and PVCThe internal bag have been material added these that can keep the

temperature


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Result of questionnaire research


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Competitor Features &

uniqueness

Selling

place

Jack wills Practical, Brand effect Flagshipstore

Muji Practical, Natural Flagshipstore

Omnipotent Bag Practical, D.I.Y design,Waterproof, Multiple

function

Onlineshopping

Competitor : Product Comparison
http://www.google.com.hk/url?sa=i&rct=j&q=muji+BAG&source=images&cd=&cad=rja&docid=BcWgYBCFQ9H38M&tbnid=bFgbqFnFcdFe5M:&ved=0CAUQjRw&url=http://sliceofstyle.com/muji-cotton-my-tote-bag/&ei=2MdjUY-7DYqViQeP4YH4Dw&psig=AFQjCNHTknWuUX79hMq8Akieiw4SXCNBXA&ust=1365580113286153


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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 ofmarket share


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OmnipotentBag

in Hong Kong Market

Macro-environmental

Demographic ForcesThe Youth Population

Economic Forces

Inflationary trends

Employment level

Median Monthly

Income

Political ForcesSME FundingSchemesGovernment

grants fifty thousandfor SME

Grant of the patents

Technology Forces

Reusable coldcompresss theory


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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


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Targeting

Differentiated (segmented) marketing We target several market segments

Design separate offers for eache.g. D.I.Y design different design based ondifferent customer

Benefits: capture more market share & use

less resource than Undifferentiated marketing


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PositioningPosition Map

Competitive advantages

Innovative function Keep cool orKeep warm Waterproof

Provide superior customer value

Selecting an Overall Positioning StrategyThe value proposition on our product:

More for the same(offer comparable quality at a same price)

=Omnipotent Bag


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Objective

Expend the market share Time: this summer ( May September)

Target : Sell 10000 units

250

1350

3400 3400

1600

0

10002000

3000

4000

Target


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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 tooutdoor activities


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Price

List Price

$100

Market-penetration pricing

Set a low initial price in order to penetratethe market quickly and deeply

Discount

Buy 2 get 5% off If there are a lot of stocks


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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 whocan get $5 cash coupon


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Place

Channel Online shop

Coverage

Facebook, Instagram Many people like online shopping

InventoryA mini warehouse

Trading Method Face on face (in MTR)

Send by post

registered parcel (+$18)


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Control

Provide different colors Waterproof and limpidplastic

Buy one bag get 3 cold

compress Group buying

Documents

(J)Final New Bag Product