Purpose: To seek funding for a new product

A high tech fitting mirror development

Introduction

The expectations of customers have slowly shifted towards higher standard of service as they
wish their in-store shopping experiences to be easy and enjoyable. To meet their expectations,
we are pleased to submit our proposal to your company to seek for funding about developing
a new product which is called “high tech fitting mirror”. This product could transform
customers shopping experience to another level. At the same time, we have heard about your
company is interested in the field of technology and trying to develop and release some high
tech product. Our team have the experience of more than 5 years in current field. Currently
our product is in the developing stage and have a big possibility of making big changes if this
product exists in the market. In this proposal, we are including our plan, schedule, staffing,
budget and authorisation.

Background and Purpose

High tech mirror is a mirror that enable users to select the clothes that they want to try and
automatically fit into their body on the mirror without wearing the clothes physically.
Although the idea exists on Internet few years ago, but it comes to reality only in 2015.
However, this high tech fitting mirror is not widely used in market as those products are still
in investigation process. According to our surveys, there are clothing shops that are not allow
customers to try the clothes in the shop due to hygiene problem. As a result, it will cause
certain customer lost their desire to consume in those shops. Besides, due to the appreciation
of the land and building, the size of the shop may not allow the shops of having a fitting
room. So, those issues came out an idea that a high tech fitting mirror in the shop to enable
customers to try the clothes without fitting room. Based on the survey, 75% of the users are
shocked about this product and they are willing to try it if they have the opportunity. Literally,
the similar products are common in foreign country however they are not common, event not
implemented in Malaysia. So, we have the confident that this product will make big changes
either to the customers or the shop or to both. By using high tech mirror, clothing shop can
save the place for building a fitting room and those areas can be able to use for other purpose.

This study source was downloaded by 100000805435390 from CourseHero.com on 02-12-2022 23:46:30 GMT -06:00

https://www.coursehero.com/file/49597514/Business-proposaldocx/
 On the view of customer, it is a good experience than can try clothes without wearing on his
body and its can prevent the hygiene problem.

Plan

Besides the basic technology of high tech fitting mirror, our team also tries to make some
difference to strengthen the product. We are trying to have the sensor to this mirror. Users can
select the clothes and sizes of the clothes by pointing in the air, without touching on the
mirror. On the other hand, our team are trying to corporate will Alipay and other e-wallets in
order to enable customer to purchase the desired clothes on the spot in front of the mirror.
Other than that, our product has the feature of giving opinions to the user. When the size of
the clothes which the users tried does not fit to their body shape, the scanner of the mirror
will detect it immediately and provides choices that are more suitable for the user. So the
customers do not need to worry about their clothes purchased does not fit to their body.
Furthermore, the mirror also provides different types of clothing styles selection for users i.e.
casuals, formals, vintage, summer. It will automatically match several types of clothes with
bottoms for user’s recommendation. Additionally, users can also connect their phone with the
mirror and share the clothes they tried with their friends or family. In this case, users may
pretend that they are shopping with their friends or family even they are not around
physically.

Schedule

Our product is expected to develop with 2 years, below are the schedule in that 2 years.

1st quarter of 2020
2nd quarter of 2020
3rd quarter of 2020
4th quarter of 2020
1st quarter of 2021
2nd quarter of 2021
3rd quarter of 2021
th
4 quarter of 2021
Survey about the material and operating system
Testing the material of the product
Develop to system of the product
Ask for corporate with Alipay and other e-wallet
Internal testing (First testing) and obtain the bugs and problem
Recover the bug of system and material
Testing the product internally (Second testing) find the bugs and
solution
Testing in the certain clothing shop (Final testing)

This study source was downloaded by 100000805435390 from CourseHero.com on 02-12-2022 23:46:30 GMT -06:00

https://www.coursehero.com/file/49597514/Business-proposaldocx/
 Staffing

There are 4 main directors in our team which is Kong Wei Hian, Lee Wei Fang, Eng Jie Yee
and Chew Jun Yu which are responsible for different aspects. Because of our existing team
have 10 members, so within this period of time. We are trying to recruit around 5 or more
professional members e.g. software developer, programmer in our team for developing our
product.

Budget

Below are the expected budgets which will incurred in this product development within two
years.

Development cost (searching for material,

RM 30 million
system and survey)
Pattern, copy right and legal fees RM 2 million
Contract fee of corporation with Alipay and
RM 50 million
other e-wallet
Salary for staff and general expenses RM 2 million
Table above show that there expect RM84 million will be expense for this product.

Authorisation

We strongly believed that our proposal will make a tremendous difference in the market and
fashion field. Our product can bring convenience either to the customers or owner of the shop
or to both. So, sufficient funds are really required from your company and we can promise
that your company are the first company that authorised and delegated to sell our product
once development are complete. If you decided to accept our idea and willing to provide fund
and development cost to us, please sign the duplicate copy and send it to us before
25/12/2019.

You can call the office number 0312345678 to our office in order to get further and detail
information. Thank you.

This study source was downloaded by 100000805435390 from CourseHero.com on 02-12-2022 23:46:30 GMT -06:00

https://www.coursehero.com/file/49597514/Business-proposaldocx/
Powered by TCPDF (www.tcpdf.org)