MISAMIS UNIVERSITY

Oroquieta City

Department of Business and Management

PRODUCT PLAN
For
2018V Flat Iron Board

Submitted by: Antipuesto, Marivic

Francisco, Claire
Lumimot, John Christian
Marcelo, Marites
Palma, Mycah
Undag, Mike Negyl

Submitted to: Mr. Renzitelo Alf. P. Carpio

S.Y 2018-2019

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TABLE OF CONTENTS

I. Cover Page
II. Table of Contents
III. Introduction
IV. Executive Summary
V. Product Planning Process
a. Product Description
1. Mission
2. Vision
3. Objectives
b. Target Market
1. Demographic Segmentation
2. Geographic Segmentation
3. Behavioral Segmentation
c. Competitive Strategy
d. Project Planning Schedule
e. Product Specification
1. Concept Screening
2. Concept Testing
f. Concept Testing
1. Result of the survey
g. Conclusion
h. Recommendation
VI.

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III. Introduction

People are fond of wearing crumpled less clothes especially those who are on
duty most of the days in a week. Adding a neat feature on uniforms or any type of dresses
is what most of the people also wanted in their everyday life activities. To have an ease
on ironing clothes, flat iron board was invented.

Ancestors of ironing board include, in the West, the whalebone smoothing boards
buried with Viking ladies, and in the East, the stone slabs used with Korean ironing
sticks. Boards small enough to hold on the lap were still use in the 19th century.

Over the times, there were many produced flat iron foldable boards which
basically has stands to keep the board in place in the corner of the house. In 2018,
developers decided to innovate a flat iron board and make it into stylish, unique but has
multiple uses and does incurs a minimal space on your wall.

Yes, the 2018V Flat Iron Board is an innovative flat iron board that is beneficial
to any member of the family because of its multiple use. It can be any sort of table and
the whole product can be a wall decor. The product will be produced for the reason that
the developers wanted to create a new version of such equipment in the most unique and
stylish version.

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IV. Executive Summary

2018V Flat Iron Board is an innovative product that will be produced in the
vicinity of the target are which will be the city of Oroquieta where most of the target
market of the proposed product resides. The said target market will be the students,
employees both private and non-private and the non-working parents also. Moreover, the
product focuses on providing an ease in ironing the clothes and at the same time, offering
another use such as an alternative to study table, a wall décor can be considered also.

The said product defines its mission in a way that it is made to provide the
customers with a multi-usage furniture that is beneficial to any member of the family.
Going to its vision, to continually help the customers through the product that will incur
minimal space but are useful in many ways and operate in easy steps. Its objectives are
viewed as follows: To sell at least 10-15 items on its starting month; To be known in the
market.

The product will offer wide variety of designs freely, delivers the item direct to
the consumer and if the consumer will acquire 3 items, there will 10% less of the total
amount of the items. The more items they’ll acquire, the more percentage will be lessen
on the total amount of the items. The aforementioned strategies will be anchor on the
competitive strategies of the product.

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V. Product Planning Process

a. Product Description

The 2018V Flat Iron Board is a type of innovative product which was
originated mainly from a simple flat iron board. Basically, it has a rectangular
frame with a single door protecting the entire iron board that typically looks
like a compartment which can be attached on the wall that will allow the
product to incur a minimal space on the user’s house. Under the iron board is
a single stand that will allow the board to stay on its place like a table. Both
board and its stand are foldable. Moreover, the product has an attached study
lamp.

1. Mission
The proposed product’s mission is to provide the customers with a
multi-usage furniture that is beneficial to any member of the family.
2. Vision

To continually help the customers through the product that will

incur minimal space but are useful in many ways and operate in easy
steps.

3. Objectives
 To sell at least 10-15 items on its starting month.
 To be known in the market.
b. Target Market

The target market for the particular product are segmented into the
following segmentations:

b1. Demographic Segmentation

The target market of the 2018V Flat Iron Board are those students,
parents and employees whether private and non-private ones. The
aforementioned factors are believed to be the most likely to buy the product
for the reason that they are into their everyday duty and most of them requires

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 a presentable outfit and needs a comfortable place to study or do some
homework.

b2. Geographic Segmentation

The proposed product will be launched within the geographic area of
Oroquieta City as of now as it is still on its starting point but will eventually
expand by the time progress will be shown.

b3. Behavioral Segmentation

This anchors the consumer’s frequency of interaction with brand,
readiness to purchase and level of loyalty.

c. Competitive Strategy
The consumer will enjoy a free installation and delivery in every
purchase of the product. If the consumer will purchase 3 items, he will
eventually get 10% less of the total amount of the products. The more
items he will acquire, the greater percentage will be lessen on the total
amount. Moreover, the customers will be provided series of the design and
color of the frame of the product.

d. Project Planning Schedule

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Activities First Month Second Third
Weeks Month Month
Weeks Weeks
Planning for Product Development/ Product
Innovation
Concept Scoring/Concept Screening

Concept Test Survey

Finalizing the Product Architecture

Securing a Product Layout

e. Project Specification

e1. Concept Screening

2- way flat iron board 2-way flat iron board

Criteria (with emergency light With mirror)
and table)
Ease of handling + -
Ease of use + +
Durability + +
Portability + -
Readability of dose + +
setting
TOTAL 5 3
RANK 1 2

After careful considerations, developers filtered the ideas they had and
combined them. The result may not be based on the screening but then the
screening of concepts allows them to draw more ideas and decide which of which
should they consider finally. They are also basing their concept on the utility of
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such furniture where they choose the concept that weighs the most with regards to
its corresponding uses.

f. Concept Testing

f1. Result of the Survey

Out of 100 respondents 83% results to affirmative which come mostly

from employed respondents which basically means that they are willing to buy the
said proposed product.

g. Conclusion

Because of the ordinary flat iron boards offered in Oroquieta City,

developers accepted the quest on providing innovative product originated from a
simple flat iron board. They came up with the idea of making a product unique
and has never been offered to the target place. Upon looking into the
considerations such as the way ordinary flat iron boards are used and how it
incurs time and space in using and even keeping the product, developers make it
simpler yet stylish version so they came up with 2018V Flat Iron Board, a multi-
usage furniture that any member of the family can benefit.

h. Recommendations
 Orientation of the usage of the product must be well presented.

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 Installation of the product must be accommodated carefully to ensure
safety usage of the product.