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Multiplexer Company Report 2017


Business Advisor: Mr.David Wang

Link Teacher: Ms.Piyawan Sunasuan
Multiplexer Company Report 2017

Table of Content



Letter to shareholders and Volunteers
Executive Summary

Product 3

Market and Marketing 4

Sales and Promotion

Corporate Social Responsibility

Operation 8

Management 8

Financial Summary

Future Potential of Company
Multiplexer Company Report 2017 1

Letter to Shareholders,

We are proud of the progress Multiplexer, a company under the support of Junior Achievement
Thailand, has made in the commencement of our business in 2017. Despite some of the challenges
that we have faced, we were able to manage and grow from strength to strength. Nowadays, people
become more aware of their physique and value more of themselves. For that reason, our product aims
to solve the daily-life situation with a friendly solution which is shoe freshener. We proudly present
our product with three scents including jasmine tea, bergamot, and coffee ground.
We raised an account by 36.01% from the original equity and on revenue of 48,928 Baht,
reflecting a potent underlying performance on our firm. As we continued into 2018, Multiplexer is
expecting to increase the variety of scents and functions for the benefits of our customers.
I’m looking forward to your continued support in this journey with us.

Best regards,
Phimlaphas Munikanond
President of Multiplexer

Thank you letter to volunteer

Dear Ms. Piyawan Sunasuan and Mr.David Wang,

On behalf of the Multiplexer company, I would like to thank you for all of your
contribution of time and enthusiastic support. The astounding success of Multiplexer is possible
by the dedication of many incredible volunteers.
Thank you, Ms.Piyawan for your devotion as a mentor. Your advice helps show us the
way and also push us forward into the finest direction.
Thank you, Mr. David, your knowledge and expertise not only benefits the young
business starter but also a perfect guide that leads us to our success.
Once again, I would like to express my great appreciation to our volunteers who are
one of the significant parts of our successful journey. MUX Original wouldn’t have
accomplished and come this far without any assistance from you all.

With gratitude,
Phimlaphas Munikanond
President of Multiplexer
Multiplexer Company Report 2017 2

Executive Summary

About us
MULTIPLEXER (MUX) established in
2017 under Junior Achievement Thailand. There
are 23 students with two advisors from Mahidol
University International Demonstration School.
MUX provides a high intended to innovate the
eco-friendly product and promote the natural
materials in Thailand. MUX Shoe Freshener, the
product from Multiplexer Company, will solve
the daily obstacle with the best solution with a
natural and handmade product.
Financial and Performance summary

MUX has reached the break-even point after a month from the first sale to the public. The
main expense of our product is mainly on materials cost that is 30,911 Baht, including all other operating
costs. However, MUX can generate high revenue at 48,938 Baht, resulting in a total profit of 18,027
Baht. All of our products have been sold and has a margin of 36.8%. Currently, the overall equity of
MUX has raised by 58.3% from the origin equity.

Company Overview
Multiplexer is a SMEs company that targeted to originate a high-value product for the protection of
both people and environment. MUX sees the importance and responsibility of the environment that we
inhabit. Thinking of one inevitable problem that everybody confronts with every day, foot odor comes on the
very top choices. Even though this issue occurs daily, people tend to neglect it, seeing it as insignificant.
Nevertheless, MUX acknowledges this problem and earnestly launch a solution to absorb the unfavorable
smell of shoes. Multiplexer also notices a gap between nature and shoe freshener, and this is when our
natural shoe freshener originated.

With a handmade operation, all items are carry out in an environment of joy and honor. We made
each product according to the order that we received so that the product will be fresh and effective when it
handed to our customers. Auspiciously, we obtain over hundred customers within two weeks of operating.
In order to develop a sustainable future besides many wasted items inordinate in our world, MUX is
designed for a two-way benefit. In other words, Multiplexer not only reduces waste but also helps prevent
future waste in society. In addition, we favor the local products which help enhance the domestic economy.
Multiplexer Company Report 2017 3

Department of Marketing
Department Overview MUX’s marketing is the elite thinkers, who
are brainstorming in order to create the best
effective concept and strategy for the company.
President Department of Production
Phimlaphas M.
The Production department is primary
Vice President working on product of the company. The design,
Nattapong V.
materials choice and production process are
considered carefully to correspond with company’s
missions and satisfy the customers.
Chanakan J.
Prame R.
Nattapong V.
Thanchanok C. Paphapint P. Department of Human Resources
This department’s priority is on checking
attendance of the members and focusing on
Saran C.
Sarita H. Aticha T.
Natnicha T. Tanyaton P. Rinrada C.
Papada-orn L. Tanaporn M.
Chananan S.
Pattaranun H. Paphawarin K.
Duangjarin S. Janista C.
Napasorn T.
Kanyawan S.
Natthawit K.
Sasanun D.
recording and gathering both shareholders’ and
customers’ information.
Department of Finance
The Finance has duty on managing every financial activities in the company as well as organizing
the effective financial decision for the company.
Department of Public Relations
Maintaining company’s image and popularity as well as connecting with the customers are the
main duty of this department. Also, media and promotion ,as well as other public relationship activities,

Nowadays, consumers are more care about ‘Personality’. Our production standard
is high to ensure that customers will receive quality and safety product. MUX Shoe Freshener
is created with our visions“to accommodate daily life situation with a friendly solution” and
“to make make natural materials to be known widely.”
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Features of product
Starting with our main material of the
product, MUX selected charcoal as a base. The reason
is that charcoal is a natural ingredient which has an
effective ability to absorb moist and unpleasant smells.
In order to create various products, our company came
up with an original shoe freshener with three different
scents: bergamot, jasmine tea, and coffee. After the
charcoal absorbs any foul odors, these herbs will fill
the shoe with natural fragrances. All of the product’s
component including the boxes are safe to either return
to the nature and recycle.

Product Current Stage of Development

Our product is able to stay longer without any chemical components and special maintenance. It is
just required to take out to the sunlight once every 3 months. Also, the product is designed to be light and
small size for traveling, but still contain a high performance on its purpose.

2. Market and Marketing Strategy

Marketing Analysis

In this industry, there are many types of

product that are used to reduce odors from shoes—
foot powder, air purifying bags or shoe freshener,
shoe deodorizer, foot spray, and more. However,
we found that shoe freshener is the one that could
be used for the longest period of time. Moreover,
the products in the form of powders and sprays are
found to include many chemical ingredients. Shoe
fresheners are the most suitable to be made with all
natural ingredients. With these reasons, we decided
to come up with our original shoe freshener.
Multiplexer Company Report 2017

Target Market

Our product focuses on people whose age 8-40 years old who live in an urban area. Most people aged
8-22 years old are students whose daily routine involves a lot of physical activities such as physical
education class and outside activities with friends. For people aged 23-40 years old, most of them are
the working people who normally wear the casual shoes that cover their whole feet. Their routine also
involves a lot of walking from traveling to work or walking in the workplace. With their daily
activities, we believe that our product will perfectly match their lifestyle.

Product Strategy Pricing Strategy

MUX’s shoe freshener is created to fulfill We set a price of one box at 99 Baht because
our promised mission and to stand out in this our manufacturing cost is about 60 Baht. The first
competitive industry. In contrast with other brands, reason is we would like the price to match with the
ours is hand-made made from all organic and natural target customers and the product values. However, in
ingredients. Instead of using chemical perfume, we order to get the attention from the customers during
incorporate local products which provide natural our first sales and booth sales, we discount the price to
scents: bergamot, jasmine tea, and coffee, into our 89 Baht during ‘Happy Hour”. Apart from that, we
product, which made us different from the other offer a special price for the bundle set of 3 scents at
brands. MUX also supports local businesses by 289 Baht, including a special gift on special events.
purchasing ingredients from them. In terms of our Sales and promotion
intention to solve the significant problem which
The sales objective is to sell 50 units of shoe
people usually ignore the odor problem, we aim to
freshener per week. Before the company started to
create our product to be the resolution for our
activate, we wanted to increase brand awareness so,
MUX decided to open our official sites through social
Channels of distribution networks, Instagram and Facebook. We had promoted
several contents related to the products such as the foot
The product is offered in both offline and
smell problem, how to avoid and get rid of bad smell.
online distribution channels. We set up a booth in
This method is aimed to raise awareness of the brand
front of the school area for our customers such as
and increase the number of the followers as well. The
students and parents to pick up their order. Also, we Line channel is also used for customers to ask about the
provide a postal service for customers’ convenience. product and support the post-service directly and real-
Our company also set up a booth at the market fair time with our staffs.
held by Mahidol University and JA trade fair at We promote the tea scents primarily because
Gateway Ekamai to attract more target customers that market has the highest demand according to the
and to assemble a direct sale. market survey. Moreover, we keep launching new sales
promotions or any updates about the products and
events to customers as well. To create the first
impression to customers by promoting the on above-the-
line channels in order to attract large group of customers
will help increase the brand recognition among the
Multiplexer Company Report 2017 6

3. Sales and Promotion

Our company usually offers sales promotion on the special occasions. We sold product on International
Day, Mahidol Friday market, and JA Trade fair. Also provide a discount on the day.

Marketing Activities
There are three major marketing activities which are advertising and find the strategy to
increase sale. Normally, we promote our company and product through online by direct message to
customers, in order to keep in touch.

Sales Objectives
The goal is to sell each scents of shoe freshener by 50 units per week through social media,
people at Mahidol University Campus, and places around the campus. We promote the tea scents mainly
since the team discovered that the market have highest demand.
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4. Corporate Social Responsibility (CSR)

“We Receive and We Give Back”

1 . MUX supports Locals

We ensured that all ingredients were retrieved from local industries. Charcoal, jasmine tea, coffee
ground, and bergamot were received from different regions, such as Northern, Northeastern, and central regions
of Thailand. Since local ingredients are often neglected, we would like to advocate for and raise awareness of

2. MUX stops Global Warming

Multiplexer also concerned about global warming
issue. We would like to stop global warming by
using and making handmade products to decrease
the rate of carbon dioxide produced by a factory.
The components inside the shoe freshener bags
were mainly from nature and we designed it to be
biodegradable and usable as fertilizer. Even the box
is made from recycled paper.

3. MUX for Children

Our company recognizes the importance of children. We
allocate 10% of net income to buy educational materials such as
colored pencils for children at the Foundation for Children in
Nakhon Pathom. Not only donating the money, we also ask the
children to be part of our good program in raising awareness to
the other about the

We designed the blank coloring leaflet of our product and have the
children design and color them while we were teaching them about
the global warming issue and how people can help to solve the
problem even the children also can do it. Then, we also gave out
the leaflet at the trade fair day and pop-up store at Mahidol Friday
Market as we wanted to spread out the words from children to the
elder generations by introducing the idea of “Our Paths May Be
Different, Our Destination Is The Same”
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5. Operation

Supply chain management

MUX ordered the materials from rural area of
Thailand to ensure its quality, so we use EMS
transporting as it is more efficient to save more time
than the money it takes. We ordered just a portion of
materials to test quality and adjust the materials

Plan for product delivery

MUX offers free delivery in school, picking up
point at school, shops in several events, and sending
through logistic companies. Most of delivery is free of
cost as there is no additional transportation. MUX has
set up a small shop at school events, trade fair, and
market near the school for selling the products.

6. Management

First and foremost, MUX is a company that enhances its employees’ opinions since we believe that every
perspective is essential to develop and advocate the core competencies and objective of the company. To
achieve this goal, meetings are set up twice a week for discussion and updates in the company. Consisting of
members from different classes and skills, multiple ideas were inspired and created. The best idea was
ultimately selected from this diverse set of backgrounds. Apart from the brainstorming part, non-members or
the current MUIDS students were welcomed for volunteering in the production process as well. Since the
Human Resources department is primarily concerned about the relationships of people within the company,
when coming to the problems, we will be the first one to solve the conflicts. For instance, there was a
production disagreement within the department, so we, as human resources members, needed to come up with
the solution, which involved allocating members from some departments to decrease the workload and assist
with problems. Moreover, we received help from our advisors, who are specialized teachers in the field of
business, with more experiences and knowledge; thus making our company strong and more productive.
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7. Financial Summary

The ending capital of MUX is 68,077 Baht with the revenue of 48,938 Baht and 30,911 Baht on
expense, including the expense from donation. For net income, our company generates 18,027 Baht. For the
liquidation, we sold 50 Baht of share. The shareholders will receive 68 Baht per share unit in return, counted
as ROI 36.01%.
About 30% of the total expenses comes from charcoal. If we want to improve our margin in the
future, we would like to change the supplier in order to decrease the cost of production. Also, find a cheaper
supplier or buy in a large unit to get a discount for the bag. Looking on the revenue side, the Jasmine scent has
surpass the Bergamot by a great amount. Thus, to be able to clear out our remaining inventory for Bergamot,
we decided to offer a discount. Consequently, this reduced the company overall revenue.

8. Future Potential of the Company

New Product Line

Our next goal is to increase more product lines which are
not only about foot odors but also home applications such
as closet fresheners, refrigerator fresheners, and toilet odor

New scents
We are planning to add new varieties of our products by
creating surveys and collecting informations on what
fragrances are most appealing to our customers.
Furthermore, our strategy is to produce more scents that
represent Thai culture and traditional ingredients in
order to attract more foreign customers interested in

Hire local employees

Initially, all the products were hand-made by the
volunteer within the school. However, as the
company expands and the production capacity
increases, we aim to use locally sourced labor. We
believe that hiring local people will help deliver
job creation and contribute to the local economy
as well.
Multiplexer Company Report 2017