COVER PAGE

MAKER
27th June,2020
BriefCase II
East West University
Subject: Submission of Online Private Label brand for Drawer
Dear Concern,
It is a great pleasure for us to launch MAKER as private label brand for Drawer. We have made
this report with knowledge acquired from workshop with the provided instruction.
Throughout the report, all the members have worked equally hard and compiled all the materials
that were required to complete this project on time. This report has taken us to the point from
where we had challenges to come up to a business plan that will be feasible in the Bangladeshi
market.
We are grateful to you for assisting us in crafting this report and finally we are submitting this on
the day of report submission. We hope you will appreciate our report and like the business plan.
Sincerely
Leader name
On behalf of Group TMC
 Acknowledgement
We are immensely grateful to EWUBC for the continuous support and guidance to complete this
report. We are fortunate enough to get direct supervision from the workshop which pinpointed
our every mistake in the process of making this report.
 Table of Contents
Category of Product......................................................................................................................................................6
Brand Name and Tagline.............................................................................................................................................6
Maker- Brand Name...................................................................................................................................................6
Build it Better- Tagline...............................................................................................................................................6
Product Sourcing..........................................................................................................................................................7
Price Sourcing...............................................................................................................................................................7
4USPs of Furniture.......................................................................................................................................................7
Selling the specific Parts of Furniture:.......................................................................................................................8
Creating a Virtual reality:...........................................................................................................................................8
Videos of some examples as making furniture:.........................................................................................................8
Exchange offer:..........................................................................................................................................................8
Target Customer:..........................................................................................................................................................8
Target Market Analysis Primary Target Group1.................................................................................................8
Secondary Target Group:...........................................................................................................................................9
Budget of a year..........................................................................................................................................................10
Create an Offline Sale.................................................................................................................................................10
SWOT Analysis...........................................................................................................................................................12
Porters 5 Forces Model...............................................................................................................................................13
Rivalry among Competitive Firms...........................................................................................................................13
Potential Entry of New Competitors........................................................................................................................13
Potential Development of Substitute Products.........................................................................................................13
Bargaining Power of Suppliers.................................................................................................................................14
Bargaining Power of Consumers..............................................................................................................................14
PESTEL Analysis........................................................................................................................................................14
Supply Chain/ Operation Management:...................................................................................................................16
Operational Plan Demand Forecasting:....................................................................................................................16
Listing and Testing:..................................................................................................................................................16
Product Design:........................................................................................................................................................16
Delivery:...................................................................................................................................................................16
Payment Method:.....................................................................................................................................................16
Risk Management:......................................................................................................................................................17
Conclusion...................................................................................................................................................................17
 Category of Product

We want to commence with the Furniture & Décor category as our brand. Though them furniture
industry is long established with adequate customers given that the furniture is a necessary item
for any household. We chose this category because the concept of buying furniture online is
not yet popular in Bangladesh and we also we want to provide a premium service to our
customers through our innovative brand with its unique service. This industry generated a
considerable amount of revenue for our company already, and we want to create our own
furniture line and establish ourselves in this industry with the promise of transparency and
reliability under moderate cost. We want to save our customers from the hassle of searching for
the perfect design with quality and price from shop to shop. Instead, offer them a platform to
build their own design Buying the perfect furniture is a dream most customers can’t achieve.
Having to choose from a limited number of designs available in the market and not being able to
fine the image from your imagination can be pretty frustrating. That’s why we want to bring
those imaginations into a reality through our unique platform... To introduce a new era in the
industry of furniture in Bangladesh, we went ahead with this category.

Brand Name and Tagline

Maker- Brand Name

Maker is online-based customized furniture producing brand. This is the first time in the history
of Bangladesh where the maker’s giving the opportunity to customers where their thoughts, their
uniqueness will be expressed and designed by themselves. With the help of the internet, it’ll be a
just matter of time for a customer to express their thoughts into their preferable raw materials and
designs. You just need to imagine, it’s our job to make it real!

Build it Better- Tagline

Usually, in an offline store, customers go and explain their thoughts then a manufacturer tries to
make that. But sometimes there’s a chance for miscommunication. For this, the customer may
not be satisfied with the design or the colors. By thinking about customer's satisfaction, maker's
come-up with an innovative idea which is where we are providing an option where customer can
give their thoughts, their uniqueness into a virtual design. This will give them a real picture that
actually where their investment is going. Their advanced thoughts and unique demands will be
translated into the woods and this idea is expressed through our tagline - Build it Better.  
 Product Sourcing

Product sourcing is the process of finding products to sell. It means finding reputable suppliers to
buy quality products at a good price. For a more in-depth look, product sourcing encompasses
researching, price & cost calculations, and negotiating with suppliers, as well as the methods
used for each. Here, Maker’s using the self-manufacturing method.

Justifications: The reason behind using this method is as there is no economic platform like the
maker’s so this is the best way to generate profit more. As every business expects to produce the
2times profit from the level of investing so it’s better to manufacture the orders by under
Maker’s, from here it’ll reduce their expenses and all the profits will send it into the Maker’s
profit. Except for only the rate of woods their purchasing and the salary of their professionals. If
they use other manufacturers then Make’s need to sacrifice where they’ll be an acting media.
Also, they can’t follow white labeling because they are not purchasing the product from other
suppliers rather, they are the manufacturer. So, it is better to address Maker’s as Manufacturing
Facility.

Price Sourcing

Value-based pricing— We will set the price of our furniture’s based on what the customer thinks
it’s worth by observing the overall market condition, to gain the trust of the customers and to
develop the brand image first. First few Months will not be about earning a huge margin, but
about improving the brand image. Once we obtain an image as a reliable brand with superior
products, we will slowly increase our target markets with varied set of products with different
prices
Price skimming—We will enter the market with a high cost of our furniture’s at first targeting
the high-income people and develop our brand image through flourishing via word of mouth.
Once we gain recognition, we will gradually decrease the price of our furniture’s to attract more
customers of different demographic condition. Once they see a quick popularity gaining brand
decreasing their prices, the Bangladeshi people are bound to try some of our products.
Penetration pricing— We will enter the market by pricing our products at a low price to target
the mass people first. Once we gain the reliability as a brand to our customers by providing them
superior items at a lower cost, we will slowly increase the prices to increase our margin. People
are bound to buy our furniture’s once they see the superiority in our products and the flexibility
they get in the designs.

4USPs of Furniture

Every business has competitors. It’s a matter of time that when it appeared. Maker’s has an
innovative idea in history of Bangladesh. So, there’s a very chance of growing competitors in the
market. Though Maker’s still now don’t have any competitors but in future it’ll surely face some
complications. So, like every business Maker’s need to stand out from the crowd. For this they
are introducing their 4 USPs. The four USPs are:

 Selling the specific Parts of Furniture

 Creating a Virtual reality
 Videos of some examples as making furniture
 Exchange offer

Selling the specific Parts of Furniture:

To make a bed or table or any kinds of furniture, Maker’s will produce and delivery that specific
parts to their customers. The reason behind this purpose is to reduce the making cost of
customers. A customer can purchase parts and combine them and make a different something.
Also, sometimes some customers’ needs the broken part, where Maker’s will ensure that to reach
that on time.

Creating a Virtual reality:

Maker’s will introduce some designs, some parts with multiple colors. Also, they will upload
catalogs to show an example of their works and help customers to create their ideas. These things
will help the customers to make their own product and a satisfactory. As this is the first time in
history so, they are also going to have a new experience. This will decrease their times to the
thing produce that there are going to look at traditional way. Usually, in an offline store theirs a
hassle also time killing for customers. By this innovation it’ll introduce Maker’s as a time saver
in the country.

Videos of some examples as making furniture:

Usually, for every product to purchase in online customers are concern about the quality as well
as the authenticity of that product. In here, there are going to multiple videos of making a
furniture, some conversation between a buyer also with the suppliers to prove that the product
customers are investing how much that is authenticated or Maker’s can be trusted or not.

Exchange offer:

Nowadays, offers are very much attractive for customers. Usually a good quality of furniture’s
lifetime is too long. But customers may change their mind to give their residence a fresh look.
For this rather selling it or dumping it, they can sell it to Maker’s which will reduce a minimum
cost of that which they want to buy (Under some terms and conditions). On the other hand, they
will have their own designing product with a low-cost price.

Target Customer:
Target Market Analysis Primary Target Group1
The primary target group 1 will be mothers, fathers (Baby boomers, generation X) &
rising corporates. They are basically the decision makers.

Gender Male and female

Age 32-45
Family type Nuclear, Joint
Education Undergrad and above
Geography Uttara, Gulshan, Dhanmondi, Baridhara,
Banani etc.
Profession Jobholder, businessmen, housewife
Income 40,000/- and above
Social class Upper class, upper middle class
Lifestyle Health conscious, caring
Benefits Purity, convenience, value to money
sought
Attitudes Open, positive and enthusiastic

Justification: Their will be a certain amount of ages people will be the target customers.
Maker’s will be focusing the mess market. They are target customer will be corporates,
newlyweds couples, ages between 25-45. Usually corporates or business holders don’t have that
much time to give and visit a manufacture every week. So, Maker’s will ensure their time
consumptions.

Secondary Target Group:

Our secondary target group will be University students & millennials. They are basically play the
role of influencers in family

Gender Male and female

Age 20-28
Family type Nuclear, Joint
Education Undergrad and above
Geography Uttara, Gulshan, Dhanmondi, Baridhara,
Banani etc.
Social class Upper class, upper middle class
Lifestyle Health conscious, caring, physical exercise
 oriented
Interest Safety, secured health

Benefits Purity, convenience, value to money, fit body

sought
Attitudes Open to new ideas, positive and enthusiastic

Justification: University students & millennials play the role of influencers in the family. In
some cases, they play the role of the decision makers as well. Moreover, they are digitally
literate. Our digital promotions need to be reached to our primary TG 1. Hence, they can
influence our primary TG 1. Therefore, our secondary TG will act as an important intermediary
regarding this.

Budget of a year

Pending

Create an Offline Sale

A large segment of people in Bangladesh are not familiar with the concept of “online shopping”,
it is difficult for a lot of people to purchase a product without physically examining the quality of
the products being sold or communicating face to face with the customer care service.
Physical observation of the product: No matter how trusted the brand is, building trust with the
customers couldn’t have been more effective in offline sales channel. For the ease of customers,
better communication and showcasing the products an offline sales channel is necessary.
Word of Mouth Marketing: Reliability and brand image both can be established through
offline sales centers. Those offline customers can later encourage other customers to buy the
product
Incentives to switch online: Sweet incentives like discount coupons, opening a new account,
etc. can be provided physically in offline shops to encourage the customers to switch online.
Uncommon concept in furniture industry: Also, keeping in mind of the segment which is not
familiar with “online shopping” especially in case of furniture selling which is relatively new and
unpopular in the market, an offline sales channel would cater to the needs of such customers.
Affordability: There’s also the segment of people who do not own smartphones. For them,
offline shopping is a must
 SWOT Analysis
Strength Weakness
- Customized product through digitalization - Reliability
- Affordability - Unfamiliarity with digitalization
- Transparency with customer - Lack of touch and interaction with the product
- Special or without damage delivery within time

Opportunity Threat
- Chances of digitalization growth - Business concept copy by competitors
- No e-commerce platform - If competitors have better investor
- More efficient AI
 Porters 5 Forces Model

The model of the Five Competitive Forces was developed by Michael E. Porter. An important
tool for analyzing an organizations industry structure in strategic processes. These forces
determine the intensity of competition and hence the profitability and attractiveness of an
industry.
According to porter, the nature of competitiveness in a
startup business can be viewed as a composite of five
forces.
 Rivalry among competitive firms
 Potential entry of new competitors
 Potential Development of Substitute Products
 Bargaining power of suppliers
 Bargaining power of consumers

Rivalry among Competitive Firms

Rivalry among competing business is the most powerful
of the five competitive forces. The ongoing war
between other businesses competing in the same
industry for gaining customer share to increase
revenues and profits. The competition is more intense if
firm pursue strategies that gives competitive advantage
over the strategies pursued by rivals. As here Makers furniture manufactures though there online
based but with their main concept which is same like others manufactures. But in here Maker’s
stand from others as they are online based and their concern about their customer spending time
with maintaining the quality.
Potential Entry of New Competitors
Potential entry of new competitors is also the factor to intense the competition in the industry.
Larger the pool of new entrants results in more changes of intense competition. Barriers to entry,
however can restrict the firms from entering the market, a greater number of entry barriers will
make it difficult for the new entrants to exploit the opportunity of new market. Where for online
manufacturing furniture investment is low so its easy to get into this filed. So, theirs high
chances for new competitors.
Potential Development of Substitute Products
Organization mostly monitor the trends within the industry to track the strategies but competition
not only arise within the similar industry but also in different industry. Companies in other
business offer products with similar features and functionality or even better act as substitute for
the products. in a sense, Maker’s have to many substitutes’ products. But there is no online
customized manufacturing furniture seller. There might be offline only furniture seller.
Bargaining Power of Suppliers
Bargaining power of supplier effect the intensity of competition especially if there are huge
number of suppliers, less availability of raw material and the cost of switching supplier or raw
material is high. These attributes in the industry gives power to the supplier to enforce term and
conditions on manufacturers and charge high cost of raw material. On the other hand, if there’s
more availability of raw material in the market then buyers or Makers will have the power to
force on supplier and purchase the raw material at a low cost.
Bargaining Power of Consumers
Consumers are the final user of the products; performance of the companies totally depend upon
the consumers. Bargaining power of consumers is more especially when they are huge in number
and consumers purchase in large quantity. Rivals business offer discounts, warranty and services
to switch the consumer from one brand to another in same industry. As Maker’s new in the
business with a very unique idea so its better to charge a low price to the customers to get them
familiar with the product. This way they will capture the market on the other hand along with
generating the revenue they can increase the price few times later.

PESTEL Analysis
Pending
 Supply Chain/ Operation Management:

Operational Plan Demand Forecasting:

The very first move will be a sample population survey armourbearers and people are familiar
with internet. The forecast will help to make an assumption that how we need to move forward
or which steps will be necessary to reach out more customers and make them familiar with
Maker’s service.
Listing and Testing:
We will then create a list of some suppliers who are already growing or have stocks of quality
woods and willing to sell the raw material. For furniture the woods are the main raw material so
Maker’s need to ensure the quality of woods. Third parties will be given responsibility to assess
the wood potentiality. For contractual partnership, selected suppliers are proposed after the test.
Product Design:
In this stage Maker’s need to confirm that the design or the requirements submitted by the
customers is confirm. They can send them a confirmation mail. After confirming the mail, the
design will be handed over the designing team who will conduct the workers (WIP) to fulfill the
orders. The WIP (Work in process) department will hand over the goods to the delivery team.
Delivery:
After receiving the finish goods, the products reach to the customers through delivery team.
Delivery team need ensure that the valuable product needed to be deliver with having any single
damage also within time. They need to complete two most important sector. One is ensuring that
payment is full completed and they need to take survey from the customers.

Payment Method:
Depending on product the price will be charged. Customers need complete their 50% payment
through cash or e-banking or mobile-banking or using any kinds of cards. The rest of the
payments will be complete through after the delivery. If is there any complain or defects on the
product then by following the terms and conditions further processed will followed with any
delay.
 Risk Management:

Risk management is the process of identifying, examining and controlling dangers to a company
capital and income. These threats, or risks, could come from a large variety of options, including
financial uncertainness, legal liabilities, proper management errors, incidents and natural
disasters. IT security threats and data-related hazards, and the chance management strategies to
alleviate them, have become a top priority for digitized companies like Makers. By any means of
Makers fall in these situations then it’s better to be Sale their all Stocks or Close the online
approach and start with the offline or traditional way.

Conclusion
Pending