Bolded parts of choice.
PARTS / MATERIAL
- Cotton Canvas
- Packcloth
- Cordova
- RIp-stop Nylon (If it gets too expensive)
- Polyester
- Leather
PRICING
- May switch to Nylon leather for price. $6.44
- Overall Price to make the backpack as of now with parts of choice: $51.44
- Choice of materials recommended price: approx. $51.44
- Cheapest price with materials: approx. $44.40
- Most expensive materials of choice approx. $1614.87 (with leather)
- Most expensive materials of choice approx. $655.47
- Cheapest price with materials: approx. $44.40 (With Nylon)
The Exlet
Value Proposition
- The Voyagers' value proposition is that our product will provide more conveniences towards both the student consumer and the disorganized consumer with its designs to decrease back and shoulder pain, correct the messiness of a consumer with organization, and it also has features which conveniences the buyer.
Competitive Advantage
- Our competitive advantage is that we will sell our product with its organizing features being the backpack's built-in folders, an outer pocket section for the user to place their writing utensils, and a sharpener which is conveniently located on the strap. Our product can basically be a mobile office.
Marketing Strategy
- Our marketing strategy is to mainly distribute our product over the course of fall due to the amount of consumers being in the workforce or students of all grades starting their school year. The people during that time will be more than likely in search of new backpacks and our will certainly benefit them in many ways.
Sourcing
- Sourcing, where we are going to get our products will be from amazon, hopefully once we establish a partnership we can be discounted materials as well as use them as our shipping.
Distribution Patterns
- Our distribution patterns is that the product will be sold in stores that sell school and office supplies such as Staples, Office Depot, and etc. Our product will also be advertised online as well as able to be purchased online through our site.
Positioning Statement
As the Voyagers, we designed our product to bridge the three qualities of organization, style, and of course, comfort. We make these features and or improvements come true through feedback of our customers so that we can always further enhance our designs.
Pricing strategy
- Our pricing strategy is to possibly sell our product for a cheaper price than usual (not a drastic decrease) over the fall so that it can attract even more customers while we still increase our sales. Our price may pick up during the middle of the school because students may already have their bags and our sales will be slow or even freeze.
SAles Strategy
- The company's sales strategy is to focus mainly on the customers feedback for further improvements to our design and we also offer refunds in case something may go wrong. Customers may call in for placing in order, or simply going online to our store.
Revenue Streams
- Our company's revenue streams include revenue models, subscription, and advertising. The main focus of the companies to buy low, sell high, and deal with the transaction fees, all while providing a high quality product.
Sales Forecast
Milestones
- The Milestones we plan to achieve are:
- Materials of Use
- Management
ASsumptions
- Competition in the market is difficult to start off going against.
- Our marketing efforts can shift by today's use of social media and its rapid growth.
- Product will manage to sell because students will always be in need of backpacks.
Break-even Analysis
- Monthly production of backpacks = 100
- Monthly sales break even = N/A
- Price per backpack = $75 for now
- Price to make backpack = $54.44 (if some materials are cheap)
- Estimated profit = $17,355 (Level)
Projected Profit and Loss
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Projected Cash Flow
- The company's projected cash flow:
- Money spent to make a backpack: N/A (As of now)
- Bills and Expenses: N/A (As of now)
- Wages: N/A (As of now)
Projected Balance sheet
- Current Assets: None
- Long Term Assets: None
- Current Liabilities: None
- Capital: N/A
- Earnings: N/A
- Retained Earnings: N/A
- Paid Capital: N/A
Business Ratios
- Sales Growth: N/A
- Percentage of Total Assets: N/A
- Current Liabilities: N/A
- Percentage of Sales: N/A