Couples Umbrella: A Business Plan for Malaysian Market

Couples Umbrella 1
COUPLES UMBRELLA
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Inspiration behind business
The inspiration of this business idea came about as a result of difficulties that I used to
have in my relationship whenever it was raining and I had to share an umbrella with my partner.
No matter how big the umbrellas we purchased, we always got rained on since the umbrella
could not cover both of us and still manage to walk comfortably. As a result, I thought to myself
that what if there were large umbrellas that could be used for couples. Since then, I decided to
come up with a design for Couples Umbrella to solve the gap in the umbrella market targeting
couples (Epstein 2018).
Vision
The vision of this business is to enhance love by encouraging togetherness through
sharing an umbrella that protects couples from rain (Gabler et al. 2017). The business aims to
provide this product through innovating high quality Couples Umbrella that will also assist the
business to enjoy competitive advantage.
Mission
The mission of the business is to encourage creativity and promote healthy relationships
between couples by encouraging togetherness through sharing among other attributes such as
love. Moreover, the business hopes to reduce couples boundaries, conflicts and grow stronger
relationships under the protection of Couples Umbrella.
Objective
The first objective of the business is to enter Malaysian market and promote Couples
Umbrella to create demand. The second objective is to ensure that the business reduces cost of
production in order to ensure it stays profitable (McKenzie and Woodruff 2015). Besides, it is
the objective of the business to ensure that productivity is increased by training employees to
develop various designs that appeal to the needs of the target market in Malaysia. Moreover, it is
the business’s goal to determine future projections for evaluating growth of the business and
market share in the short-term and long-term.
Opportunity in the market

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There is a huge market for Couples Umbrella in Malaysia as a result of statistics from
average monthly rainfall in Malaysia. The most rainy months in in Kuala Lumpur are March,
April and May and the last four months of the year. Most rainy month is November and the city
receives an average of 195 days of rainfall in a year (Weather and Climate 2018a). The huge
population in Malaysia is sufficient to sustain the business as well as significant in helping the
business to grow to other parts of the country. The huge population in the city represents
working class people who move from one place to another which implies that there is huge
demand for umbrellas not only for couples but also colleagues (McKenzie 2015).
Description of Industry
Impact of Macro-environment
The main objective for the business is to produce, manufacture and market Couples
Umbrella in Malaysia. All these principles of the business are supported by macro-environment
in Malaysia as a result of the country’s political stability, economic power and resources that can
assist the business to grow and compete favorably. Besides, other elements such as liberal and
supporting government policies, reliable infrastructure and a vibrant environment supports the
business idea (Marked by teachers 2018). However, accessing market for foreign providers is
limited as a result of government’s objective to encourage development of its domestic industry.
Besides, the government encourages foreign investments and has a zero tolerance on
discrimination against foreign investors. Also, the manufacturing sector is considered as the
primary contributor to country’s economy. Moreover, foreign investors are encouraged by the
government to form partnership with domestic companies in order to create a conducive
environment for businesses to thrive in the economy. The government of Malaysia plays a
significant role in bringing both foreign investors and local investors through a wide range of
incentive that supports growth.
Industry Structure
The Umbrella market is divided according to type of product, consumer and location. The
major players in the umbrella market who also represent the competition for couple umbrella
include Kobold, James Smith and Sons, Hangzhou paradise umbrella group, Blunt umbrellas,
Swaine umbrellas, Pickett, Francesco Maglia, Fox Umbrella, GustBuster and Lewis N. Clark.

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There are other competitors in the market but these represent the companies with significant
market share not just in Malaysia but also across the globe (Million Insights 2018). These
businesses will not directly compete with Couples umbrella but are likely to have an influence in
terms of distribution and growth for Couples umbrella indirectly. This is because these
companies focus on both collapsible and non-collapsible type of umbrellas in the market they
serve.
Link to the industry
In order to penetrate the Umbrella market in Malaysia, the business will have to use main
suppliers and manufactures in the market. The business can establish these links through
patenting the Couples Umbrella to prevent other manufactures in the market from producing the
product without the business consent (McKeever 2016). The business will then approach
manufacturing companies in Malaysia and convince them of the demand for Couples Umbrella
which can increase growth. The manufactures will then decide the percentages of ownership and
rights to produce Couples Umbrella as well as using the manufactures distribution channel to
move the products across the country.
Marketing Plan
Situation Analysis
Strengths
The business competitive advantage is that it intends to offer a unique product in the
market which will help to differentiate it from other players as a marketing strategy (McKeever
2016). The design of the Couples Umbrella and technology will also give the business a
competitive advantage in the Umbrella market in Malaysia.
Weaknesses
The business is new and might experience challenges in manufacturing of the products in
large scale. Also, the business might experience challenges in distributing the products to the
market as well as difficulty in marketing the product to targeted consumers in Malaysia.
Opportunities