Octopus slides

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Transcript of Octopus slides

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Agenda

Agenda

Research Methodology Market Review Consumer Attitudes Strategic Business Objectives “The Octopus Cart” Business Idea Vision Mission Strategic Marketing Plan Target Groups Positioning Statement 4P

Financial Projections Action Plan

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Market Review

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Research Methodology

Field Trip

Online Survey

Focus Group

Research

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Overall Satisfaction?

0

50

100

150

200

250

Verydissatisfied Dissatisfied

Slightlydissatisfied Natural

Slightlysatisfied Satisfied

Very satisfied

Cu

mu

lati

ve V

ote

s

Waiting hour

Operation hour

Location

Price

Food quality

Food diversity

We are not quite happy…

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Demographics

New Asia, 1066, 15% Chong Chi,

1413, 20%

United, 1048, 15%

Shaw, 1160, 16%

Shho, 600, 9%

Morningside, 300, 4%

Ihouse, 254, 4%

PostgradHostel, 946, 13%

MedHostel, 248, 4%

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What kind of animal are we?

0 day 17%

1-2 days 30%

3-4 days 41%

5-6 days 12%

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Demand for midnight snacks?

Zero 21%

Once 26%

Twice 30%

Three times 20%

More than three times

3%

Research

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We deserve BETTER!

Analysis

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Here comes the solution!

Analysis

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The Octopus Cart

About Us

The Business

Idea

Vision

Mission

Target Groups

Positioning

Strategic Business

Objectives

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The Business Idea

• MOBILE food cart

• Quality midnight snacks

• Operation hours: 9:00 p.m. – 2:00 a.m.

• Different operation locations

Introduction

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Vision

“to promote the culture of quality campus life”

scholé

M&V

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Mission

Customer-orientation

Convenient locations

Quality midnight

snacks

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Target Groups

Residential Students Non-residential

Students:

the Late Leavers

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Positioning Statement

“To CUHK students, residential and non-residential, the Octopus Cart is the ultimate brand of midnight snacks which feed their

stomach with scrumptious food and drinks.”

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Six Core Business Objectives

Competitive Advantage

Business Objective Strategy

Better food To provide students with quality food Product

Better services To provide customers with good services

Better locations To serve students in different colleges Place

To appeal to students’ need for convenience

Better financial returns

To price the products at a slight premium Price

To develop a financially sustainable business Financial controls

Analysis

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Product Strategy

4P

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Product Strategy

Sweet soup 20%

Noodles 15%

Hot snack 26%

rice 3%

Hotdog 13%

Sandwich 10%

Burger 13%

Figure - Pie chart showing respondents’ food preferences

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• Octopus ball • Waffle • Japanese Pancake

Food

• Sweetened sago cream • Sweet potato soup • Bean stick & egg soup

Sweet Soups

• Taiwanese Milk-tea • Tea • Coffee

Drinks

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Pricing Strategy

4P

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Pricing Strategy $6-$9

3%

$10-$13 31%

$14-$17 41%

$17-$20 19%

$21-$24 6%

$25-$28 0%

Figure - Pie chart showing respondents’ willingness to pay for each midnight snack item

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The Menu

Octopus balls

(6 pieces)

$17

Waffle

$14

Japanese pancake

$16

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The Menu

Sweet soup

$15

Taiwanese milk-tea

$14

Tea/Coffee

$10

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Combo set pricing $2 discount for every TWO items purchased!!

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Promotion Strategy

4P

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Promotion Strategy

Promotion campaign On-going

promotion initiative

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PROMOTION CAMPAIGN

Leaflets

Free souvenir

campus-wide mass mails

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Facebook fan page

Collaboration with hostel committees

On-going promotion initiatives

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Place / Distribution Strategy

4P

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Current Problem

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Survey result

Students in CUHK would like to see our midnight snack cart operate in the

Shaw College, New Asia College and the United College

Train station 12%

CC 10%

UC 17%

NA 19%

SC 20%

Morningside 4%

S.H. Ho 6%

Central campus

12%

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21:00 p.m. -21:50 p.m. 22:00 p.m. - 23:15 p.m. 23:15 p.m. - 00:30 a.m. 00:45 a.m. - 02:00 a.m.

Train Station New Asia College United College Shaw College

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Financial Projections

Projected Income Statement

Year 1 Year 2 Year 3 Year 4

Sales Revenue 600,000 720,000 864,000 864,000

Cost of Goods Sold 150,000 180,000 216,000 216,000

Gross Profit 480,000 594,000 731,700 731,700

Other Expenses

Promotion Expenses 80,000 50,000 50,000 50,000

Salary Expenses 120,000 126,000 132,300 132,300

Petroleum Expenses 36,000 36,000 36,000 36,000

Depreciation Expenses - Food Cart 12,000 12,000 12,000 12,000

Depreciation Expenses - Utensils 2,000 2,000 2,000 2,000

Net Profit 230,000 368,000 499,400 499,400

Projection

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Key highlights

1. Generate revenue of $600,000 in its first year

2. Grow each year at approximately 20%

3. Invest $60,000 in the food cart and a second-hand vehicle initially

4. Earn an increasing net income

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Action Plan

Pre-operation

• Develop our secret recipes

• Contact and bargain with suppliers

• Purchase a food cart and a second-hand vehicle

• Purchase utensils Action Plan

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Action Plan

Introduction

Stage

• Launch our business and start operation

• Distribute promotion materials including leaflets and mass mails

• Distribute free souvenirs to customers

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Action Plan

Continuous Development

• Build the Facebook fan page

• Contact and build a collaborative relationship with hostel committees

• Introduce new midnight snacks to our menu periodically

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Conclusion

Meet the demand quality midnight snacks that

meet the demand.

snacks at a convenient location.

Conclusion

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Conclusion

Mobile

Flexible

Delivery services.

Array of business initiatives.

We can do better

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It’s just Better!

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