Chapter 3

MARKET RESEARCH AND AANALYSIS

Funture upscaling is the cncept of renovating old used furnitures and making it ready
to use again.

3.1 Environment Analysis

Any business or start-up Is directly or indirectly affected by many factors. Few factors
under environmental analysis are listed below:

3.1.2. Political Environment:

Starting a business in a developing country and the influence of political situation of

country in businesses are co-related. Political instability is the biggest thread. as we
can see streets of capitals are full of protestors these days which has affected people to
perform day to day activities, difficult to deliver the order in time due to long jams or
bandas.

3.1.3 Economic Environment:

3.1.4 Socio-Cultural Environment:

Socio culture defines us the attitude ,lifestyle of the people living in society. Since,
people these days are attarcted towards the antique pieces, it favors our business to
boom. Since, in this age of social media people are easily influenced,which is good
for our business.

3.1.5 Technological Environment:

Machine and technology in factory which will positively affect the production level
and contribute in reducing production cost. However, technologies are changing day
by day and advent of new technology fetches new challenge for surviving in
competitive market. Full capacity utilization of existing machineries may not be
possible in current power shortage situation of the country.

3.1.6. Legal Environment:

Various government legislations and policies have a direct impact on the performance
of furniture industry. For instance, revised tax and vat policy, raising duty of imported
raw materials may affect the industry.
3.2 SWOT ANALYSIS

Strength:

 Trained and motivated workforce

 Strong Business concept for conservation of environment and upliftment of
marginalized group of people
 Eyes pleasing designs from expert designer
 Promising location of business

Weakness:

 Inefficient waste collection system

 Low market coverage

Opportunities:

 Easy availability of raw material

 Rising awarness among public
 Positive impact on environment
 Availability of assistance from both government agencies and NGOs.

Threats:

 Negative reaction from neighbouring community

 Presence of well established furniture repair and reupholstery companies in
market target location.

3.3. Customers

We can find customers with different background, different society, and their attitudes
towards things also differs. But one thing what people follow is trends. And these
days we can see the attraction of people towards the old and uinque things.

3.4. Market Size and Trends:

With the changing times and the growing popularity for apartments and housing units
in Nepal, people are starting to furnish their homes and offices in a more modern
style. The growing size of the furniture market clearly indicates this sway. “The
current size of the Nepali furniture market is Rs 50 billion and the annual demand
growth rate at 10 percent. We can see an enormous scope for furniture business in
Nepal and entered the furniture business with a core focus on modern design sofas.
When people enter a room, the first thing they notice is the furniture. People try to
furnish their houses with visually appealing furniture to create an attractive ambience.
“Nowadays, furniture is taken as a style statement. The focus is on the look, design
and the superior finishing.

3.5 Competition Analysis and Competitive Edge:

The Furniture Repair industry is an emerging market that is yet to be fully embraced
globally, therefore there is little or no competition in the industry at the moment.
Since the industry is a multi-stage one, there is need for collaboration among the
players in order to have a win-win situation for all the players. one of the strategies
that we would need to employ in order to generate repeated sales from our customers
and also to retain them is to ensure that your customers always have their orders
delivered on time and your customer services does not fluctuate. If the services and
customer service fluctuate, we are likely going to struggle to get our customers
coming back, people usually go for products that are of good quality. we can also
make uses of promotional ideas such as loyalty schemes, and direct marketing. Need
to ensure that we offer our customers incentives if we want to retain them and to
continue to generate repeated sales from them and attract new customers.

3.6 Estimated Market Shares and Sales:

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 CHAPTER 4
MARKETING PLAN

4.1 Marketing stratregy

The fact that the entry barrier for starting a small-scale furniture upcycling business is
not on the high side means that there is bound to be more players in the industry no
matter the location you choose to start yours. In essence, you must come up with
creativity and innovation if you must carve out a market for yourself in your
community, city, state or country. In the starting phase our marketing stratregy will be
to make our customer happy. It acts like magnet when a customer is happy they will
attract other people who will be our potential customer so first of all we need to focus
on our service to be better. In oder to make them happy we can offer them many
service with or without service charge.

4.1.1 Differentiation of service and cost leadership:

4.1.2 Focus:
4.1.3 Alliance with partners:

4.1.4 Diversification:
4.1.5 Advertisement:

To become a national and international brand by selling our office, home and antique
furniture all across the nation, then we must be ready to spend money on promotion
and advertisement of our brand. Here are the platforms that we can leverage on to
boost our brand awareness and create corporate identity for your furniture upcycling
company:

 Placing adverts on both print (newspapers and magazines) and electronic

media platforms
 Distributing fliers and handbills in target areas
 Leverage on the internet and social media platforms like Instagram,
Facebook, Twitter, YouTube.
 Installing boards on strategic locations all around the city or state
 Ensuring that all the staff members wear branded shirts and all the vehicles
and furniture collection trucks are well branded withthe company logo.
 Sponsor relevant community based events/programs

4.2 Target Market

Market is like a Pyramid. Everything depends on the price of our products and the
market will be determind after that. First of all to begin with we can target local
market, local shops, hotels,etc we can convience them to use these products to make
their respective places look unique antique and it will be the attraction to people
which will increase the customer flow, benifiting their business.

4.3 Pricing:

One key factor that will help us to sell refinished, repaired and restored office, home
and antique furniture at a price that is highly attractive is to ensure that we cut
operational cost to the barest minimum, and channel the efforts towards marketing
and promoting the brand name. Aside from the fact that this strategy will help us to
save cost, it will also help to get the right pricing for the products and services.

4.4 Sales Tactics:

4.4.1 Quality and efficiency of service:
4.4.2 Customer satisfaction and service:
4.4.3 Advertisement and promotion:

Those who speaks will sell the flour and its difficult for some to even sell rice if they
don’t speak, it is the translated form of nepali famous saying. Advertisement is the
way fo reaching amonng people saying them our thoughts and influencing them to use
our products. So, advertisemnet is a must. We need to do both online and offline
advertisemnet to promote our products. Since our products is furniture which is used
in big seminars, events, etc wwe can sponser our prouducts in a term to use them in an
event, which will let people use our product and have a impact. Another waay is the
promotion through social media where large mass is connected. We can influence
them throght diffrent advertisemnet.
4.4.4 Communication methods:
4.4.5 Company social responsibilities: