This presentation provides a comprehensive guide on creating a business pitch for investment. It covers the outline of the product, strategies for attracting customers, economic analysis, and the competitive environment. The presentation offers valuable insights and tips for success in the market.
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Table of content οINTRODUCTION οOutline Product οAttracting customers towards making purchase οEconomic Analysis of Costs, Revenues and Profits οEconomic environment of the product οCompetitive environemt of the prodcut οCONCLUSION οREFERENCES
INTRODUCTION οBusiness pitch is a proposal involve projecting the business proposal involve products, services of the company, the essence behind the whole proposal, fundamentals of the project and many such aspects that clearly attract the investors to bring money or capital into the business (Bouquet, Barsoux and Wade, 2018). οThis presentation will discuss about the customised furniture product pitch presentation. οThis pitch presentation report will discuss about the product that company is introducing in the market to attract the heavy success in respective market. οDetails about the product will be submitted in this proposal. οStrategies consume to attract potential customers in market will also be a part of the proposal.
Outline product οCustomised furniture is a brand that will offer different customised furniture products that will cater all the different needs and requirements of the potential customers associated with the business entity. οThis product will be delivered as per the specification submitted by the customer at the time of placing the order. οThe basic idea of the product is that customer can get the furniture based of its own preference and choice. οIn this initially customers will approach to the sales executive and fetch all the details regarding the needs and requirements of the customers and what are the key feature customer is looking in the product. οBased on the customer specification about the model, material, colour combination and all other details about the product executive further send the details in the factory premises of the company so that final product could have been delivered and produced (Kolarevic and Duarte, 2018).
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Cont. οThis product will allow the company to prepare product based on the instruction and requirements of the consumer. οThe product is developed on the basis of customer choices and preference which make it more valuable in context to the potential customer associated with the market. οThe choices of customers are keep on changing as the business environment is immensely volatile in nature that allow the consumer to entertain new and latest design and ideas that can meet up the needs and demands of the potential customers in the best way possible. οCustomised furniture as a brand will grab the opportunity to produce such products that can match up with the expectations and requirements of the target customers (Luckman, 2018). οThe uncertainty regarding the choices of customers will also be overlooked in this business idea. οAll different feature related to the business model make this idea a huge success for the business entity.
Attracting customers towards making purchase οThepromotionaltoolstobeusedforattractingcustomers towards making purchase of a new product like customized furniture depends largely upon who the customers are and what are their characteristics(PP Pieroni, McAloone and Pigosso, 2019). The certain strategy that will be used here for marketing customized furniture are as follows: ο±Furniture advertising outlets ο±Paid advertising tools ο±Connecting with furniture buyers through social platforms ο±By developing website as gorgeous as the customized furniture ο±Offering discounts and special payment options ο±Customer retention strategy
Economic Analysis of cost, revenue and profits ParticularsFirst year(In millions) Second year(In millions) Third year(In millions) Fourth year(In millions) Expected sales50556062 Less: Budgeted variable costs 48525657 Contribution margin 2345 Less: Fixed costs 4444 Profit / (loss)(2)(1)01 Therefore, in third year, the company will achieve its Breakeven point as its revenues and expenses are equal in this year and the business will be in a position of no profit no loss, whereas in other years there are losses and profits to the business(Hillman and et.al., 2018).
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Economic environment of the product οThe demand of this product in the UK market is highly affect the profitability because the upper middle- and upper-class customers are more attached with the furniture that have unique design and quality. οSo, the company need to increase the demand of the product by launching various campaigns and advertisement on the different social media platforms. οThe profit percentage of the company will be low if the selected market size of the company is small. οSo, the company have to select large country with high population at the time of expanding the business to foreign countries. οBecause it helps them in increasing their customer base along with the profit of the customized furniture product(Pietrzak and et.al., 2017). οThe supplier is also one factor which affects the economic environment because the production will get stop if supplier failed to supply raw-material on time. οSo, the company need to consider all the possible strategy and technique such as applying EOQ technique in order to maintain the stocks in the warehouse all the time.
Competitive environment of the product οThe most important factor of competitive environment that the company can consider is the number of competitors in the same sector. οAs, the competitors of the customized furniture production company is high in the UK market than the respective company need to incorporate unique design in their products by hiring highly experienced design team. οThe expected growth rate of the home furniture manufacturing company in the UK is 3.2% per annum from 2021 to 2026(Hjaila and et.al., 2017).
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CONCLUSION οCustomised furniture is a brand that will offer the customised range of furniture product. οThis idea is innovative and will attract to the target customers in the respective market. οCompany will attract the target customer base such as upper middle class and upper class economic background people as a part of this business idea as the customised product always consume extra cost that can only afford by such customer base (Azeem and et.al., 2019). οDifferent strategies such as social media marketing, digital marketing and such strategies will be adopted to achieve the success in respective market.
REFERENCES οBouquet, C., Barsoux, J. L. and Wade, M., 2018. Bring your breakthrough ideas to life.Harvard Business Review. 96(6). pp.104-113. οKolarevic, B. and Duarte, J. P. eds., 2018.Mass customization and design democratization. Routledge. οLuckman, S., 2018. Craft entrepreneurialism and sustainable scale: Resistance to and disavowal of the creative industries as champions of capitalist growth.Cultural Trends. 27(5). pp.313-326. οPP Pieroni, M., C McAloone, T. and C A Pigosso, D., 2019. Configuring new business models for circular economy through productβ service systems.Sustainability. 11(13). p.3727. οHillman, D. and et.al., 2018. The economic cost of inadequate sleep. Sleep. 41(8). p.zsy083. οLuong, N. C. and et.al., 2017. Resource management in cloud networking using economic analysis and pricing models: A survey. IEEE Communications Surveys & Tutorials. 19(2). pp.954-1001. οPietrzak, M. B. and et.al., 2017. Entrepreneurial environment at regional level: the case of Polish path towards sustainable socio- economic development. Entrepreneurship and Sustainability Issues. 5(2). pp.190-203. οHjaila, K. and et.al., 2017. Integrated game-theory modelling for multi enterprise-wide coordination and collaboration under uncertain competitive environment. Computers & Chemical Engineering. 98. pp.209-235. οAzeem, M. M. and et.al., 2019. Response to stockout in grocery stores: A small city case in a changing competitive environment. Journal of Retailing and Consumer Services. 49. pp.242-252.