1.

0 Executive Summary

Producing and selling furniture is a fast growing industry in Bangladesh. The focus of the
industry is on the affluent customer who can spend a handsome amount on furniture purchases.
In Bangladesh, there are minimum thirty to fifty renowned furniture brands that are competing
for these customers with deep pockets. Those customers who can't afford these high prices are
left with a poor selection of inferior products in local markets.

In the Dhaka Metro area, there are approximately 20 million residents with modest incomes have
a few furniture store to caters to their needs for affordable quality furniture. This income
demographic has grown tremendously over the past five years but has not been responded to by
the area furniture stores. Targeting customers with modest incomes is good business. They are
expected to make up half of metro population by 2020--making them the fastest-growing
segment of the city's housing market.

There are three modest-income housing renovation projects underway in Dhaka with a combined
total of 1,500 units that will be sold as affordable housing.

As the Dhaka Metro section revives, The “Concentric Furniture” will offer customized, ready-to-
finish furniture that's hand-made and surprisingly affordable. We offer:

Truly Custom Furniture: An unfinished furniture piece that is crafted for the customer. We'll
customize any piece or create a whole new piece from a customer's rough sketch.

Heirloom Quality Furniture: The furniture is made to last for generations. It's hand crafted, so
each piece is unique.

Handmade from Quality Ingredients: Every piece is made by a professional craftsman from
the finest ingredients like- woods, aluminums, metals and so on available.

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1.1 Company Summary

The Concentric Furniture is a new company that will offer expertise, customized, ready-to-finish
furniture that's hand-made and surprisingly affordable. Our target customers are young families
and young adults specially, bachelors with modest incomes and small living benefits as well as
who are looking for the same selection and quality that the high-end customer receives. Each
piece is handcrafted from the finest woods or metal and built to last for generations.

1.1.1 Company Ownership

The Concentric Furniture is formatted under Partnership Act, 1932 in Bangladesh as it is
established by four partners. It will be established in 2019.

1.1.2 Start-up Summary

Total start-up expenses, including tools, software, stationery, and related expenses are shown
below. Four partners will individually provide the bulk of the start-up financing. At the same
time, the company plans to receive a 3-year commercial loan facility, which will help meet the
cash flow requirements.

Figure: Start up Summary

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2.0 Situation Analysis
The Founders of The Concentric Furniture have developed their marketing plan using the
following format-

2.1 Market Summary

In the Dhaka Metro area, there are approximately 10 million residents with modest incomes.
They are expected to make up half of the metro population by 2020--making them the fastest-
growing segment of the city's housing market. In the Dhaka city there are many furniture
companies but the minimal based furniture is the new idea. The Concentric Furniture will use
modern technology to manufacturing process. The company will manufacture the most stylish
furniture within a limited space and budget by using efficient raw material. As because, it has
different types of unique products rather than the other type of furniture that’s why it will get
large number customer.

Target Markets (Market Segmentation)

In case of identifying the target market, the most important strategy is the market segmentation.
In market segmentation, The Concentric Furniture will divide the market into smaller segments
with distinct needs, characteristics or behaviors and will try to match with its products
characteristics. At this stage, The Concentric Furniture should not appeal to all buyers in the
marketplace. Basically, its target customers is those who have a modest income and a small
livings but with high taste. Here it will choose a market segments based on geographic location,
demographics, behavioral differences & psychographics. In this case, The Concentric Furniture
targets the Rampura-Badda-Khilgaon area where maximum people are living in middle class
with modest income. On the other hand, many house-building developer companies are building
many studio apartments by targeting this segment of people which can be a competitive
advantage for The Concentric Furniture. Besides this, there are many well-known educational
institutions like- East West University, Imperial College and so on. For this reason many
students live here in bachelor’s house that create another opportunities. The Concentric
Furniture’s market positioning statement will be -“DREAM BIG, BUY FOR LESS - QUALITY
FURNITURE FOR EVERY BUDGET!”

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2.1.1 Market Demographics
The market demographics of The Concentric Furniture consist of the following geographic,
demographics and behavioral factors.

Geographics

Market segmentation involves dividing the market into distinct groups of homogeneous
consumers who have similar needs and consumer behavior and thus require similar marketing
mixes.

The Concentric Furniture will mainly focus on middle class residential areas, commercial areas
and educational institutions as bachelors are mainly surrounded by these areas class as they
produce affordable furniture for living and commercial purposes. At the first time, the target area
will be the Rampura area of Dhaka city and after that we will expand our business. And for
expanding our business our first priority will be in Chittagong. This target market will be studio
apartments, bachelor’s mass, and student’s hostels.

Demographics

The Concentric Furniture mainly focus on people with modest income that are both starting their
careers and families and those that have been established and are looking to change out older
furniture for new items. It will target among young and mid-level employees, who mainly live in
a small accommodation like studio apartments or Darby-dory. The number of employees in this
range is estimated to be a huge amount in the target region.

Behavior Factors
 Those who live in a studio apartment, mass, single accommodations or hostels.

 Those who want to have very fine and light furniture with the latest in design.

 People with modest income but have a classy taste and personality.

 The newly married couple who want multiple features in one product.

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2.1.2 Market Needs
We understand that our target market needs are more than just home furniture. The need grew
out of the special needs of personal requirements of space-saving, budget friendly, tasteful
design, legibility of product. Our target customer wants to have all of that plus fine furniture.
There is a need for quality, reassurance of wood and good workmanship. We believe our success
depends on our customers. Thus, our primary value is fulfillment of our customer’s needs. Our
manner of achieving this success is to include value for money, different price ranged functional
products, complete solutions, free technical consultancy services, after sales support, efficient
delivery, and above all quality products that exceeds expectations. We believe in providing our
customers new and innovative products with international standards to match with the changing
lifestyle of today. Basically, we don't just sell home furniture; we sell home environment and
design, plus workmanship.

2.1.3 Market Trends

The furniture industry in Bangladesh is going through many changes. Our market has finally
grown to recognize the disparity between most of the standard furniture sold through channels,
and our own products.

The personality, tastes, needs and demands of the consumers is an important trend for us. At the
same time, the residence or home size in metro area become smaller day by day. It is very much
challenging to satisfy consumers’ needs by providing furniture which may satisfy their needs
effectively as well as which may represents their taste. We now have people who want variety
and also have efficient workmanship of good furniture.

2.1.4 Market Growth

The furniture industry in Bangladesh has been experiencing healthy growth over the last 6 years.
The domestic market is exhibiting an upward trend and is currently worth BDT 67 Billion.
(Source: EU Technical Report, 2012). Also, within that time, exports of wooden furniture has
increased by CAGR 104% to USD 38.94 Million (source: EPB), while the total number of
enterprises has grown by 68% to 71,034 (source: EU report).

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 Figure: Bangladesh Furniture Export Trend (EPB)

Factors Contributing to Growth

Some major factors contributing to sustained growth of the furniture industry is provided below:

 Growing Domestic Demand: According to the latest BCG report on growth consumer
class, Middle and Affluent Class (MAC) population currently stands at 11.7 M and, is
expected to triple within 2025. These emerging classes have growing disposable incomes
which are being spent on consumer durables, including furniture.

 Access to Credit: Currently, Bangladesh has 60+ banks vying to capture the retail
banking segment. Many of these banks offer credit cards and consumer loans which are
easily accessible to MAC segment. Preferential credit card terms make purchase
decisions simpler for users planning to buy furniture.

 Improving Supply-side Capabilities: Part of this growth can be attributed to a stylistic

shift in the furniture design. The country’s carpenters have recently begun incorporating
styles from their foreign counterparts, increasing the range of options available for
consumers, looking for one of a kind aesthetics. This is resulted in consumers regularly
changing their furniture.

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  Inexpensive Labor: The shift can also be attributed to the presence of inexpensive labor
in the industry, an industry which is labor intensive. Laborers in most countries where
furniture is produced are paid more than $120 a month, while Bangladeshi laborers are
paid between $37-120 a month (EU Technical Report).

 Backward Linkage: According to the EU study, 40% of the raw materials used by the
industry come from domestic sources. Forests in Chittagong Hills and the Sundarbans are
the largest provider of quality timber in the country, with forests covering areas over
10,600 Sq. Km.

2.2 SWOT Analysis

SWOT analysis is a framework used to evaluate a company's competitive position by
identifying its strengths, weaknesses, opportunities and threats. Specifically, SWOT analysis is a
foundational assessment model that measures what an organization can and cannot do, and its
potential opportunities and threats. The SWOT analysis of our company are given below:

2.2.1 Strengths

 The in depth knowledge and insight about raw materials and customers demand.
 Strong relationships with local artists.
 Excellent employees who are highly trained to offer outstanding customer service.
 Great retail space that provides large amounts of walk-through traffic.
 High-quality product offerings.
 Widest selection of product physically shown in marketplace.
 Excellent building materials with latest technology.
 Customer/ Client focus and customer orientation.
 Constantly using innovations to drive costs down.
 Supply chain integration.

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2.2.2 Weakness

 Low capital budget.

 A limited marketing budget to develop company awareness.
 The struggle to get new and creative artwork.
 Ability to keep up with demand for the products.
 High transportation cost.
 Low capability of storage.
 Shortage of desired raw materials.
 High traffic causes some customers to not receive the attention they deserve.

2.2.3 Opportunities

 A growing market with a significant percentage of the target market still not
aware of
The Concentric Furniture’s product offerings.
 The ability to increase the sales volume while maintaining the same overhead
costs.

 The ability to attract new and exciting customers as The Concentric Furniture
becomes better known.
 Growing online sales.
 Creating new sector with different type of product.

2.2.4 Threats

 Intensifying competition (Mature markets with a lot of competitor).

 Growth of average consumer income.
 Environmental impacts.
 Mature markets with a lot of competitor.
 Political and economic instability.
 Skillful mechanic and worker.
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2.3 Competition

A close study of the furniture manufacturing industry reveals that the market has become much
more intensely competitive over the last decade. As a matter of fact, anyone have to be highly
creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with
other leading furniture manufacturing companies in Bangladesh. Mostly renowned company like
OTOBI, BOTHERS Furniture, HATIL, AKHTAR, PARTEX, NADIA, NAVANA, HI- TECH,
Regal, Singer etc. Are our best competitors. Also other local and small furniture manufacturers
are also acts as our competitors. In more specific terms all of the furniture making companies
will be our competitors.

2.4 Products and Service Offering

The Concentric Furniture will offer wood, board or metal products for the bedroom, living and
dining room, and the storage room. Our product offerings are listed below:

 Manufacturing Sofa cum beds;

 Manufacturing Beds with storages.

 Manufacturing Study table with chair.

 Manufacturing Dining table with chair.

 Manufacturing Conference table with chair.

 Manufacturing Different types of Cupboard.

2.5 Key Success Factor

Based on the previous assessment and new analysis, in recent days space saving furniture
manufacturing are too little. So for the present and future demand our company can play a vital
role in the furniture manufacturing industry. The key success factor in the market determined by
robust, relevant and quality control. But as our company working with latest technology with the

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best quality so it will definitely become a success factor. Besides from this, responsiveness,
flexibility, cost effectiveness can also act as a success factor for us.

2.6 Critical Issues

For achieving the goals and gaining the success, Concentric Furniture needs to:

 Establish its reputation by serving quality furniture and by ensuring quality

service.
 Pursue excellence with cost control.
 Ensure product durability and longevity.
 Manufacture various types of furniture with different color and design.
 Continuously update and upgrade production capability, leveraging technology
and product line up.
 Keep good communication with customers, service provider and materials
supplier.

3.0 Marketing Strategy

Marketing strategy is the important section of business plan that outlines the overall game plan
for finding clients and customers for business. The key to marketing strategy relies on how a
company keeps their focus on the client management within a limited geographical area and to
give priority on the responsiveness, cost affordability of the customer and also the customer
intimacy.

3.1 Mission
The Mission of “The Concentric Furniture” is simple. The customer gets what he/she wants;
furniture (one piece or a whole house full) that fits the customer's space, taste, and budget and
style preference, from top to bottom! So in easy words creating the space saving furniture at
affordable price is the mission for the company.

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3.2 Marketing Objectives
The company Marketing objectives are:

 Offer our customers affordable quality furniture that will last.

 Customize any piece as requested by a customer.
 And if customizing a piece won't quite work, create a whole new piece from
scratch, exactly to the customer's specifications.
 Focus on the new channels to increase sales substantially by Year 3.
 Maintain a high gross margin, despite the sales increase. And also achieve the
desired revenue.
 To be known as the best quality server in the furniture production market.
 Become popular for the great customer service provider in the industry as well as
the best Brand in the furniture making industry.

3.3 Financial Objectives

 Generate minimum 20 percent surplus for supporting the production.

 Become a zero debt institution in about 4 years.
 Build a corpus of about 20 crore by the end of the tenth year.
 Gain a small profit from the end of the first year.

3.4 Target Markets (Customer Segmentation)

Perhaps it will be safe to submit that the furniture manufacturing industry has the widest range of
customers; almost everybody on planet earth has one or more things that they would need in their
houses or offices from a furniture retail store. It is difficult to find households and office
facilities without one form of furniture or the other.

In view of that, we have positioned our furniture manufacturing company to service the
residence of Bangladesh where showroom cum outlets will be located firstly in Dhaka and then
Chittagong. We have conducted our market research and feasibility studies and we have ideas of
what our target market would be expecting from us.
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We are in business to manufacture a wide range of furniture to the following groups of people
and corporate organizations

 Households (Like middle class people who stays mostly on studio apartments)
 Students
 Bachelors and Spinsters
 Corporate Executives
 Business People
 About to wed couples and newly married couples
 Corporate Organizations / Offices

Figure: Pie chart of Target Market

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3.5 Positioning

As a new company we will develop our brand by our customer side. We believe if we can assure
the best quality product we will gain a superior position in the market. The Concentric Furniture
produce handcrafts furniture from selective and customized designs. By doing customized design
work, we have the ability to meet any special requirements of customers through its designs,
wood, color or type of construction. Our personalized service provides our customers with their
own personal requirements. The Concentric Furniture will position itself as an ethical, competent
and compassionate furniture brand. It would like to be known for its:

 Creative Learning Approach:

Our specialist will maintain a database of the client’s information such as name, personal likes
and dislikes, wish list information, past purchases including dates, price and style, serial numbers
and any other data which will assist our customers in target our marketing efforts. We will also
keep a photo inventory for insurance purposes as a part of our customer service.
 Integrity:
The most important issues that The Concentric Furniture will focus about the quality of being
honest and having strong moral principles towards its brand’s reputation.
 Reliability and Responsiveness as a Partner:
The concentric Furniture will always act as a reliable and responsive partner to its customer. It
will use the internet as a source of communication that will provide frequent and appreciate the
convenience of having access to shopping and personal records online.

3.6 Strategies

The main pillars of The Concentric Furniture’s strategy will be customer-client intimacy and
affordability. We will focus on a special kind of customer, the person who wants very high
quality and comfortable home customized furniture to work beautifully with modern technology
with limited space. Our customer may be bachelors, newly married couple, family person,

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service holder or business owner. What is important to the customer is elegance, fine
workmanship, ease of use, ergonomics, and practicality.

Our marketing strategy assumes that we need to go into specialty channels to address our target
customer’s needs. The tie-in with the high-end quality catalogs like Sharper Image is perfect,
because these catalogs cater to our kind of customers. We position as the highest quality,
offering status and prestige levels of purchase.

Sales Strategy: Our strategies will focus first on maintaining the identity with the high-end
buyer who appreciates the best available quality. We’ve been able to find these customers using
a combination of direct mail catalogs and direct sales to distributors.

For the next year we continue to focus on growing presence in the high-end direct mail catalog
that finds our specialty customer. We will work with Sharper Image and Broadview more than
ever, and we expect to gain position in the major airline catalogs as well. Specialty retail is a new
channel that could become important for us.

Our work with distributors will be promising. We hope to continue the relationship with
distributors selling directly to larger corporations, even though this takes working capital to
support receivables.

3.7 Marketing Programs

The Concentric Furniture will use different sources to communicate our target marketing.
 Promotion through Printing Media: Concentric Furniture will use those sources on that
the more customer attract like Local Cables, Newspapers, Bill Board and when it will
launch any scheme in Furniture will use pamphlets to target our customer.
 Promotion through Electronic Media: We will use the channel to attract the customer
and give fully information about Furniture though these Electronic media. As research
our target customers we can promote our product to give advertise in television & online
campaign.

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  Promotion through Social Media: Social media is now-a-days an important platform of
promotion. By our company website everyone will be connected with us. The most
important vehicle for sales promotion is the direct mail catalogue published by the
specialty retailer such as Sharper Image and its competitors.
 Distribution: The distribution will aim at providing convenient access to client residence
with a focus on reaching out of them. In addition, home delivery service will be adding a
great advantage.
 Pricing: The concentric Furniture will provide budget friendly product with superior
offer, value-based and affordable pricing.

3.8 Marketing Research

The furniture market is growing day by day. Now the domestic furniture market worth is more
than BDT 67 Billion (EU Technical Report). According to the latest BCG report, wealth is no
longer centralized in Dhaka and Chittagong. Thirty six cities already have more than 100,000 in
the Middle and Affluent Consumer (MAC) class, with the number of cities expected to rise to 63
in the next 10 years. These MACs have enough income to afford luxury products and have
biasness towards branded ones. Hence, an increase in the number of MAC’s will lead to an
increase in the demand for branded furniture.

There is also a preference towards ‘trading up’ among consumers in Bangladesh, particularly in
the case of durable goods (like furniture). We have to systematically research on client’s needs &
requirements. As income levels rise people substitute their durables with ones that are more
convenient and provide greater comfort.
The industry is very competitive. Due to the sheer number of SMEs, price of furniture is highly
competitive at the middle and lower segments of the market. The larger firms have captured a
small segment mostly catering to MAC consumers who don’t mind paying a premium for quality
and brand.

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 4.0 Financial Plan
Concentric furniture plans to invest 1 crore BDT in shop, utility, raw materials and some other
purposes. This will be funded equally by the 4 partners of the business and loan from two banks.
The initial capital of 60 lakh BDT will be provided by the investors. It will be registered as a
section 25 company. The expected income and operating expenses forecast is provided in Table
1.1.

Table 1.1 Income and Operating expenses Forecast

Description Cost per month (In BDT) Cost In Year 2019 Cost In Year 2020 Cost In Year 2021
Showroom Rent 80,000 960,000 1,080,000 1200,000
Insurance 30,000 (Once in a year) 30,000 40,000 450,000
Utility 30,000 400,000 500,000 550,000
Salary and wages 220,000 2,640,000 3,000,000 3,500,000
Machinery 500,000 ( For first month only ) 700,000 500,000 700,000
Raw Materials 500,000 7,000,000 9,000,000 10,000,000
Transport 90,000 2,000,000 2,200,000 2,500,000
Inventory 60,000 800,000 900,000 1,000,000
Packing Materials 50,000 650,000 750,000 850,000
Promotion 60,000 900,000 1,100,000 1,300,000
Total Expense 1,620,000 16,080,000 19,070,000 22,050,000
Income 900,000 18,000,000 24,000,000 30,000,000
Operating Profit -720,000 1,920,000 4,930,000 7,950,000

The operating margin will help in paying the interest and instalments on the loan with a very
small surplus left after depreciation in the initial two years. The investor retain the flexibility to
maintain salary and wages burden and purchasing raw materials as almost 70 percent of its
budgeted for them.

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5.0 Controls
The following areas will be monitored very closely by Concentric Furniture management:

Revenue:

Sales forecast backbone for any business plan. It actually sets the standard for expense, profit &
growth. Our sales forecast assume steady growth in first two month. We are expecting high sales
nd
growth from 2 half of the year. In January-June & July-December we are expecting at least
50% growth through our strong marketing activities.

Sales Forecast
For The Year 2019
Month Bed Table Sofa Total
January 420,000 240,000 240,000 900,000
February 420,000 234,000 252,000 900,000
March 513,333 286,000 308,000 1,100,000
April 560,000 312,000 336,000 1,200,000
May 606,667 338,000 364,000 1,300,000
June 840,000 468,000 504,000 1,800,000
July 630,000 351,000 378,000 1350000
August 630,000 351,000 378,000 1,350,000
September 770,000 429,000 462,000 1,650,000
October 840,000 468,000 504,000 1,800,000
November 910,000 507,000 546,000 1,950,000
December 1,260,000 702,000 756,000 2,700,000
18,000,000

Table 1.2: Sales Forecast

From January we are going to start Production & selling. As market is unaware so initial January
& February sale would be remain same. From the March month sales will start to increase
because of increasing awareness through our marketing campaign. Then we have two religious
nd
festival Eid Ul Fitre & Eid Ul Azha also give us high volume sale in the mid & 2 half of the
year. In the month end because of the winter season our sale will be at pick point. Winter season
is popular for wedding program. We will get so many orders for the wedding gift purpose & also
new couples would be busy to redesign their houses with new furniture.

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 Figure: Total Sales Forecast
Client/Participant Feedback

Objective of the concentric furniture is to provide best quality product & design. Design
shouldn't only look pretty it should also solve a problem, and one problem that outbreaks college
students, renters, and small homeowners is how to make the most of their space. When a piece of
furniture can perform double or even triple duty by going beyond the singular use
client/participant will grab this smart choice. Multi-functional furniture is a smart choice for
those situations when you might need a large tabletop one day, but not others, or you feel like
sitting today and going horizontal tomorrow. These multi-functional furniture will transform and
adapt to fit customers changing needs, also can save both space and money.

New Clients Acquisition

Targeting new movers and consumers experiencing other life changes represent a lucrative
acquisition opportunity for furniture brands. Consumer’s life events considered as a new sales
opportunity. Consumer life events, such as getting married, buying a house, or having children,
will provide us with a reason to engage with a consumer and increases the likelihood that a
consumer may purchase.

Above touch points can produce significant improvements in response rates, up to 10 times
higher when compared to traditionally-timed campaigns. The key is to start with good data. For
example, the following life event changes all signify an increased likelihood for our purchases:

 Newlyweds: Newlywed data compiled from sources such as bridal registries, wedding
invitation purchasers, and other public record sources.
 Recent Divorce: Recently divorced individuals. This data can be sourced from county
courthouse filings.
 New Home Buyers: New home buyers can be sourced from mortgage data. Nearly three-
quarters of new movers make major move related-purchases (furniture, electronics, and
appliances).
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New Programmed Developed

We will have our own website where we will showcase our products & customer can purchase
from that site. We will advertise our products on Facebook, YouTube & others social media sites
to create hype about our products. We also planned to supply some of our goods to some retailers
with good incentives to sell our products. We will give advertisement at newspaper with
products details & information where customer will get 15 % off by providing paper cutting
portion of our ad. We have also planned to give 15% discount on first purchase for the customer
& also 10% discount coupon on which they can redeem in their next purchase of our products.

Client Retention/Repeat Participation Rate:

1. We planning to have CRM system, or customer relationship management system,

which will allows to track, monitor and communicate with customers using an
automated platform. We will customize messages to focus on items, issues, products
or information of interest to specific customers, which helps build retention into our
communications mix.
2. We will make customer service a priority for our team. Empower individuals to
handle problems promptly, and follow up with customers after resolving service
tickets to make sure there are no loose ends remaining.
3. Emails and postcards are inexpensive ways to maintain communications with
customers. We will drop them a simple “thank you” note and coupon to encourage
repeat business.
4. We will take complaints as an opportunity to engage with our customers, not an
annoyance. We will use this opportunity to resolve the problem fully and to thank
them with additional services.

5.1 Implementation

Our company managing director will Anik Ashfaq Ur Rahman. He will actually lead the whole
organization. His responsibility will be to make organization effective & capable to do the right
thing, also to coming up with new ideas to sustain or have healthy growth in coming days.
Fahmida Lubna will be our production manager & our budget controller. She will look after
whole production process, ensuring raw materials timely & made into finished goods effective,
she will also monitor quality & quantity of used raw materials. Shahed Ul Islam will after the full
operation department. He will take care show room related activities. All the sales people will
report to him.

5.2 Marketing Organization

Sabbir Shawon will be marketing manager of our company. Marketing departments will be
operated by marketing manager. He will be responsible for developing marketing activities for
the company also coordinating marketing campaign with sales activities.

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5.3 Contingency Planning

Difficulties & Risks:

Skilled Labor Shortage: we have to first overcome an important hurdle that is skilled labor
shortage. As our items concept is very new & skilled labors are already involved big
manufacturing companies with higher salaries. So we may have to struggle to fill skilled labor on
the production floor.

Increasing Cost: We may have to face price hike due to the factors both within the industry &
outside of it. The increasing cost of materials may force us into tight space. It will either eat the
cost or pass them down the chain to our customers & create risk of losing business to our
competition.

Fluctuating Customer Demand: Cost increasing & potentially rising employee wages are even
more to difficult a time of fluctuating demand. Demand in furniture industry highly depends on
consumer housing trend. Changes in housing trend will have big impact on our business which
will resulted to face lose in coming days.

6.0 Conclusion
Studio apartments to dorm rooms, living space can force us to get creative with our furniture
arrangements. Sometimes the answer to space restrictions is furniture that can serve multiple
purposes. Furniture designs have become more innovative to accommodate small living space.
Multifunctional furniture provides a way to get more utility from our space, so people don’t have
to fill every inch in their room with furniture. Furniture industry in Bangladesh experiencing
healthy growth over few years. Though the industry is competitive, but the changing trend of
using furniture will create hype among the consumers.

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References

th
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isAllowed=y

 http://www.assignmentpoint.com/business/report-business-of-plan-on-paper-
furniture.html
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 https://businesscollective.com/the-key-to-a-successful-and-practical-marketing-
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 https://www.mplans.com/office_furniture_maker_marketing_plan/situation_analysis_fc.p
hp
 https://www.profitableventure.com/furniture-manufacturing-business-plan/

 https://www.bplans.com/furniture_manufacturer_business_plan/market_analysis_summar
y_fc.php
 https://smallbusiness.chron.com/marketing-strategies-modular-furniture-12749.html

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