Name of the Company: Ideavan

Business Type: Service Based

Logo: Not Decided yet

Business Address: Not Decided yet

Ideavan the company:

Ideavan is the first company to start giving platform to companies, agencies, MNC’s or any other
entities who are struggling with ideas of different sort of problems like introducing a new
product, fighting to gain more market share, identify or come up with new marketing plans. In
short coming up with a solution.

How?
Ideavan will be a platform where many companies can come and share the problems they are
facing in the current market. Or they also can search for some new ideas to solve their current
problems in the market. Ideavan will provide them a platform where it will arrange contest
through cases for all around Bangladesh.

why companies will come to Ideavan where as they can arrange these sorts of events by
themselves?

Ideavan will be the one and only entity who will be focused on arranging these sorts of events.
These type of events causes time and money. For the big players in the market it is waste of time
and money. For a competition they focus only on top most universities only. Therefore, they are
missing out on other universities. Ideavan believes that ideas can come from anyone. It surely
does not need to a top student from a top university to come up with big ideas always. Ideavan
will give opportunities to everyone who wants to share their ideas about the given particular
problem. From that it is Ideavan’s job to give access to every person who is willing to give ideas
and let the company choose or Ideavan can be the judge which idea is the best for them.

What will the companies will gain from this?

Ideavan is solely devoted to this business.

 It will give the opportunity to the companies to solve their problem. It will do everything
like from writing the cases to finish the event. It will help the company to access more
idea’s. as they were focused on only some reputed universities, now they will gain access
to every other universities.
 Let alone any university any person can give their ideas over here. They can get more
ideas which will also help them to know what the customers wants. The people who will
be competing can also be their target customer. So, by giving the solution the company
will have a significant idea about what the general people wants.
 Ideavan will be targeting mass market but the cost of arranging a competition big will be
very cost effective for companies. For the contest there will be no events. They will get
ideas of a 100 and have to much less then they spend on universities competition.
 Market data will another gain from this because the people who are actually competing is
their customer in some way.
 Fresh minds and ideas can become a revolutionary thing for their company
 The people who are potential they can use them to recruit them

Mission:
Our mission is to create a platform where people can share their ideas to overcome the actual
problem that is happening in the actual market.

Vision:

Our vision is to become the only biggest idea generating hub in Bangladesh.
Target market:

Ideavan has divided the market into two segments.

Primary Market:

The main target customers of Ideavan are

1. Multinational companies

2. local companies

3. Agencies

4. Government

In short, any organization who is seeking for idea generation.

Secondary market:

Under grad Students

MBA Students

Marketing enthusiast

Professionals

or anyone who is willing participate or share their ideas for the given issue
Industry Description:

There are certain players in the market who are involved in this business. But there is no certain
entity where the only focus is to arrange competition to solve a problem in mass market. In this
case we can define this Industry as Embroice Industry. In this industry there is no other company
who is focused on only on creating competition to solve the problem of a company in such mass
market.

The factors that will make the company succeed

 It will be idea generating hub. It will be lucrative to different companies who are willing
get different sort of ideas for one problem.
 Big companies often face some challenges to generate new ideas as they are already
established in people’s mind. Here Ideavan will come into play
 The people who are going compete are also the in sort of customer base for the
companies. Through this they will also get to know what is going through the head of
mass people.
 For our secondary target people, it is an opportunity to show their talents to the
companies. Who knows if they impress them they might get a job in that company or
other companies
 It will create a status quo for all the people who will be participating or be associated
with this platform. It will enhance the image of the company.
 The contest will add value to the people who will be participating in the competition. A
certificate from the competition will add value to their CV’s respectively.
 Competitive advantage

 Hundreds of solutions for one particular problem

 The platform user number

Competitors:

for the time being there are no direct competitors For Ideavan. There are some indirect
Competitors for Ideavan. Such as:

 Event Management Companies (though Ideavan is internet based)

 University clubs (same reason)
 Agencies – only if they arrange competition to generate ideas for their own sake
 Marketing consulting and research firms
 Industry analysis & Internal Analysis of Ideavan

Competes in several industry

Marketing agency:

Since ideavan open an opportunity for many talented youths to share their thoughts on particular
situation. it enables them to think ambiguously and provoke to come up with various ideas which
can be implemented as a good marketing strategy. That consequence a competition in this
industry.

Event competition:

By providing many case competition events it clearly substitutes for various institute who
organize such competition for instance many University or organization who arrange various
competition to acquire new ideas and creativity from youth generation.

Event Management:

There are many event management companies which heavily focused on such competition
throcugh various events can be direct substitute for ideavan.

Strategic consultancy firm:

Through activities of ideavan it creates chunk of ideas and solution for many org. in various
industry. By modifying those ideas Ideavan can provide some concrete solution for various
problem that faced by many organization which can complete with other solely strategic
consultancy firm in the industry.

Advertising firm:

Ideavoan would be a platform for crowdsourcing and create a idea hub. Needless to say this
platform will bring creativity and innovation. Furthermore, through the case competition it also
can measure the actual demand of the market. By combination of all of these can be a result of
perfect promotional content for any potential and existing products or services which will be
directly compete with many advertisement agencies.

Newspapers company:
Company like Dhaka Tribune, Daily Stars and many other newspaper company open an
opportunity for youth generation to contribute their talent by involving them as a part time
writer. The writing is basically based on various new topic where writers are contributing their
own rensearch on that particular topic and provide a wonderful article for the company. On the
contrary ideavan will also open an opportunity for that youth generation to contribute their own
talent in exchange of greater rewards. As a consequence, those newspaper companies will be
clear substitute of this company.

Seed-investor firm:

Furthermore, a seed investor like Grameen accelerator will be also competitors of ideavan as
they have also focused on new ideas and make a seed investment on that. On the contrary
ideavan will also seek new ideas but very likely to focusing on copy-right those ideas instead of
investing on those. As a result, whoever try to implement any of those particular idea that entity
must have given a price to monetize it. Indeed, this creates a heavy competition with those seed
investment firms.

Competitive model framework:

Threats of new entrants:

Ideavan will be stand on its intellectual property. The intangible assets of this company is a huge
traffic of many ideas. On the contrary currently there are no competition which facilitate by
initiating the activities in blue ocean market. Moreover, the core competency and the key
resources of ideavan is the intangible assets but more precisely this is the result of the main
summery. If we more dig into this the distinctive competency is the core people of this company.
The idea traffic the hub that filled up with a chunk of ideas and various industrial solution. On
the other hand, the capacity to integrate those ideas.

Now coming to this entry barriers, there are few questions arises whether there are any
competitors in the market? Is the theme of these business imitable? Does the fixed cost keep
away other entity to enter the market?

Starting with a first question no there is no competitors in the market. But sadly, to say that the
theme of this business is easily imitable as the investment is low and fixed cost is low as well.
Despite ideavan implement their strategy in more organized way, but when it creates the demand
there will be many entities rise in the market. Since the investment cost is low that will create
heavy competition in the market.

As in this circumstances ideavan should grab the first mover advantage by exploiting each and
every economy of scope.

There are two target group that Ideavan will be focused on

1) The youth generation from where the ideavan will acquired the various ideas and industrial
solution.

2) The organization who will be purchasing those ideas and the solution for them.

In order to differentiate the market Ideavan will bring the proper utilization of its core
competency and by exploiting its distinctive core competency and capabilities Ideavan will able
to sustained their competitive advantage.

From above explanation there are few questions came forward

What is ideavans distinctive competencies? What is their capability to implement these

competencies? How ideavan differentiate the market through the distinctive competency and
capability?

The distinctive competencies of ideavan are the talent management, analytical abilities of the
core members, interpersonal skills of the core members and the proper case structure.

The capabilities are the organization structure, better time management, good interpersonal skills
among partners and flexible working hours with effectiveness.

Since, Ideavan is the first entity in the industry it has some competitive advantage as there is no
competition in the industry. Despite the fact, Ideavan initiate business activities by integrating its
distinctive competencies and the capabilities. By implementing this Ideavan establish a business
model which is more effective and efficient and better responsiveness to their customers.

Now there are some further question raise; with the activities of Ideavan who is being satisfied?
What is being satisfied? How are customers need being satisfied?
Prior to these questions the answer of the first one would be, there are two groups in this
business one is suppliers who will share their thoughts and ideas another one is buyer who will
eventually purchase those ideas.

More precisely the suppliers are also Ideavan’s customers.

How?

Ideavan will encourage them to participate the competition program one that Ideavan will
arrange. To boost up the participation of competition the winners get incentives. Furthermore,
Ideavan will implement several marketing strategies to provoke youths to join the competition.
And the ideas and the solutions of participants are the key resources of the company.

On the other hand, Ideavan will target corporate giant in national and muti-national industry who
will buy its product. Since, Ideavan will serve premium customers they will implement
differentiation strategy by providing intensive solution.

Now, coming back to the entry barriers Ideavan will retain its customers by providing quality
service and good customer relationship with its customers. As the customer switching cost is
very low and threats of new entrants are very high, Ideavan will follow the differentiation
strategy to enhance customer brand loyalty and gaining their trust.

Bargaining Power of Suppliers:

Initially the bargaining power of suppliers will be quite high as this is new industry which will be
falls under embryonic stage. More precisely Ideavan will create this industry. Other than this the
suppliers (participants) are not in the business, precisely Ideavan could not make any
transactional relations among them rather encourage them. Initially who are passionate and
progressive will participate and share their thoughts, and most importantly for the remuneration.
In many cases Ideavan would be educating their suppliers as those are consideration as buyers
But, once Ideavan established as a brand people are more encouraged to participate and then the
bargaining power of suppliers will decrease.

What is bargaining power means? If bargaining power decrease does that means that total
remuneration among the contestants will be decrease as well?
Here comes the tricky part when Ideavan portray them as a brand that means they have already
built the market and their reputation. And successfully acquire some loyal customers. The
demand will rise then Ideavan will enhance their market share.

On the contrary, the bargaining power of buyers will be also high in the embryonic but once they
get benefit and experience greater profit margin through those solution that provided by the
Ideavan that creates more demand. By fulfilling these demand Ideavan will able to achieve
economic of scale by implementing proper management, superior quality, proper environment
and most importantly appropriate integration of distinctive competencies and their capabilities
which facilitate through their learning effects and experience curve lower that ultimately lead to
achieve economies of scale. One of the important things that Ideavan will take into account that
the superior quality of work will eliminate time waste, which will increase productivity and
greater efficiency also very influence to achieve economies of scale of work.

Ideavan will also utilize the economies of scope by exploiting every corner of the opportunity.
Through the technology it can be possible to scrutinize 360-degree view of the business as well
as the key partners and its customers. The 360-degree analysis also provide a great opportunity to
provide a clearer picture and can be identified the key demand of the customers.

Referring to the last question, when Ideavan achieve the economies of scale and utilizing the
economies of scope it will create more activities in a more efficient way so the remuneration will
get higher rather decrease. And the quantity and quality will increase. Moreover prior to these
activities Ideavan will be dominate the market and take a control over the purchasing power of
buyers as well.

Complements:

Reaching out the people who are going to participate is complementary to Ideavan. As a growing
economy country, Bangladesh already developing its communication channel through internet,
as well as the online payment and other services also evolved BKash, UPay etc. which
complement this business.
 PESTLE Analysis:

Political: Over the longer period of time Bangladesh has been struggling to achieve the political
stability in the country. As a consequence, it reduces the overall productivity of the country’s
economy and Foreign investors are reluctant to invest here. On the contrary it also effects on the
local companies and hinder their business activities in many ways. Hence, this situation has been
changes over time. Past few years the overall productivity and growth of the economy has
significantly increased due to political stability.

Economy: Economy of Bangladesh upward to the curve interpret it has increasing. There are
numbers of FDI occurred in last few years as well as the numbers of startup initiated their
activities which also boost up the economy.

Social: Social trend and norms have been significantly changing over time. In last few years it
has clearly noticed that people are adopting more the western culture and celebrate their
occasions very effectively. For example, nowadays valentine’s day is one of the prime occasions
that people want to celebrate in a very special way. On the other hand, it also creates many
opportunities for business activities and many entrepreneurs are benefited through these types of
occasions.

Technological: The world is moving forward to creates and adopt new technology. These also
influence in Bangladesh. Nowadays its being heavily observed that e-commerce-based business
are evolving. There are many startups implementing electronic commerce to compete in the
market. Furthermore, the transaction nowadays become more convenient through technological
advancement.

Legal: Since the economy is growing, there are more issue raises. These results, it increases the
jurisdiction, rules and regulation. Through rules and regulations, it provides structured and fair
competition among the organization. Moreover, legal appliances also increase the workers safety
and employee’s security. And it keeps away many org. from any wrong doing.

Environment: As a developing country, Bangladesh remain in a very competitive market. There

are heavy competitions among firms in same industry. On the other hand, environment tend to be
more aggressive in terms of initiating any business activities. Furthermore, the work life balance
is very low and low satisfaction in work place which also sometime work as a demotivating
factor for many others. The collectivism culture and heavy power distance also results decrease
the productivity and hinder the entrepreneurship.

SWOT Analysis

Strength: The core strength of Ideavan is its distinctive competencies and the capabilities which
are integrated in a more efficient way. Hence, Ideavan doesn’t compete directly but compare to
substitute industries Ideavan integrate its distinctive competencies and it capabilities more
efficient way to achieve competitive advantage. Furthermore, thousands of ideas will be a great
strength of Ideavan by interpreting those it can easily differentiate in the market as well as
increase demand for various solution for many industries.

Weakness: To initiate the business Ideavan has very low investment due to lack of funding,
whereas the other substitute firms have larger funding. This consequence very tight situation and
refrain from many business activities initially.

Opportunity: As a first mover in this industry Ideavan can significant advantage. On the other
hand, businesses are growing in Bangladesh and looking forward to industry revolution which
many organization face various types of problems, issues and lack of innovation. Ideavan will
facilitate those org. by solving their issues.

Threat: Since barrier of entry is low in this industry, there will be many org. come forward in
the market. The less legal appliance on copy right issue will be hazardous for the firm. Lastly
any political disruption will affect the business as that will hamper other industries in the market.
Business Canvas Model
 Organizational Plan:

Form of ownership:
It will be a partnership business and each one of the member will be accountable for the
business. As we are new in the business, all of our members will bear the risk equally.
We will be selling handmade PU leather products
1. We will have a contract, where each of the members will have the signature on.
2. We will register the partnership to avoid any unfavorably situations in the future.

Identification of partners:
1. MD. Talha Mohaimen Adittya
2. Ahsaduzzaman Chowdhury
3. Syed asif
4. Rafid Habib
5. Riashad noor
6. Markedium

Type of Business:
Partnership
1. As it is a partnership business, all the risks as well as the profits will be shared equally
among the partners.
2. For any decision to be made or changed, the opinions of every partner will be taken into
consideration.
3. As our business is a registered business, we can sue each other or any other third party for
any monetary claim or for any breach of contract among us.
Organizational Structure:

As there is no current employees the partners will be the one who will be running the company.

1. MD. Talha Mohaimen Adittya

2. Ahsaduzzaman Chowdhury

3. Syed asif

4. Rafid Habib

5. Riashad noor

DESIGNATION of Partners: Not decided yet

 Marketing plan for Ideavan:

There are two markets that Ideavan target for achieving its organizational goal

 One is idea generators or problem solvers

 Another is buyer of those constructive ideas or solutions

Idea generators or problem solvers: Those who are participate in the competition and share
thoughts and ideas.

And Ideavan segmented this market in basis of demography. There are two categories that
Ideavan will target one is youth generation young adults and other is adults.

To encourage these group of people Ideavan use social media and online campaign to participate
in the competition.

Facebook Page:

There will be a Facebook page where we will update all the news that is going on or going to
happen in Ideavan. In this page we will try to build a community of people who has participated
on our competition or trying to participate.

Facebook Ads:

To let people know about Ideavan we will shoot small teaser for it. First there will be a pic of
logo and the name. in the next video we will shortly tell what Ideavan is and we will encourage
everyone to join our programs. A Facebook ad will create hype among the students.

Videos of the famous university faculties will be there. They will be inviting the students through
the video and encourage them to participate in the competition.
Website:

Website itself will be one of our source to promote ourselves. We will encourage people to visit
our site through Facebook, link din, YouTube and other websites also. We will decorate our
website so simple but elegant people will feel ease to access.

Affiliate and referral marketing, Display ads will also be a part of promoting Ideavan.

Buyer group:

The buyer groups are the organization which seek solution and ideas for innovation for their
product or services. These groups will be segmented based on different industry. The key
marketing strategy of acquiring this group is robust customer relationship management where
Ideavan will regularly monitor those company to identify their demand and the issues that they
have struggling with. And based on these Ideavan offer them a constructive solution in a form of
personnel selling strategy

To promote Ideavan we will be considering mostly the social media. As social media has become
a huge platform for all the people specially youth. We will go for social media promotion mostly.
 Revenue Model:

There are several ways that Ideavan will achieve its profit margin:

Event Sponsorship: By increasing business activities and credibility in the market Ideavan will
acquire some profit through event sponsorship from many org. in interest of their promotion and
getting those ideas or solution in first hand. Ideavan will charge a certain amount of commission
according to intensity of the problems and the event.

Website-Advertising: When the Ideavan will be established there will millions of data traffic
occur in the website that increase credibility and a provide a great platform to promote any
company’s product or service to millions of viewers.

Selling solution to the organization: The main aim of the Ideavan is to gather millions of ideas
and by interpreting those provide a corporate or operational solution for many organization in
various industry. Ideavan will acquire significant profit margin by selling those ideas or solution
to many company and in some cases Ideavan may hold some equity share from that particular
division.

Strategic consultancy to the organization: Since the distinctive competency of Ideavan is its
intangible assets as well as its large idea hub. Integrating all of these Ideavan will be also
produce some strategic solution by providing strategic consultancy to many organization
 Functional Activities:

Ideavan Companies approaching

Ideavan

Approaching companies to give some

current problems they are facing

Contact through website or office

Problem Identification Go with the procedure from

problem identification and the
solution they are looking for
Solution type Company is looking for

Give cases by themselves or ask

Ideavan to make it for them
Make cases according to the need of
companies or brands

Upload the case on the website

Upload the case on the website

Select the last date of submission

Select the last date of submission

Collect the solutions

Collect the solutions Announce Make it round

the winner basis
and give
different cases
Make it round basis for different
Announce and give different rounds
the winner cases for different
rounds

Prize giving ceremony Prize giving ceremony

or Grand finale or Grand finale