YA.co BusinessPlan20083of 26
Our company YA.co is made up of students from the University of Queensland.We all havedifferent skills and bring different attributes to the team.YA.co believes that the bestcustomer serviceisdelivered by providing customers with options, therefore our proposedproduct hasthe flexibility to be personalised for each customer.Our product is handmade wooden door hanger which can be engraved on the spotaccording to the customer’srequirement. In order to provide extra incentive for ourproduct, we came up with the idea to include a wide range of pictures and patterning,thatcan be pre-prepared and the variety will fulfil different customer needs. The customers canalso personalise their own product by adding extra decorationsand our team can engraveeach hanger with the customer’s name. In terms of packaging, we provide 2 options tocustomer who either purchase for themselvesor as a gift.Our target customer groups are teenagers, family groups and university students. Ourmarketing team will begin by promotingawareness of our company and our productthrough the combination of attractive store set upsand constant exposure in ouruniversityand friend’s network.As part of the marketing and advertising strategy, we will distribute flyers that customerscan use to get a 5% discount on all our products,potential consumers could also capture ourbusinesslogo viaour website and the posters displayed around the University of Queensland.To maximize the profitability for each shareholder, we understand the importanceof tightcost control and competitive price range. Our variable cost per unit will be below $2 and thiswill allow us to have a higher profit margin.Byusing each team members different expertise’ and fast learning skills under a clear andwell organised direction, I believe we will be one of the top companies and deliver apersonalized and innovative product to the publicas well as a substantial return to ourshareholders.