Team 1 - InACE

MGM3180-11: BASIC ENTREPRENEURSHIP
SEMESTER 1 2021/2022
LECTURER:
DR. GANESH A/L G.THANASEGARAN
InACE BUSINESS PLAN
PREPARED BY:
No Matric No. Owner’s Name Program Tel No / HP
1 210314 FANG YI MIN BSTM 0106603177
2 211310 TAN CHUN KIAT BSTM 01127764911
3 210861 TAN KENG JUN BSTM 0123748324
4 210689 SIM JOE SHIN BSTM 0194215018
5 212417 ENG QIAN YU BSTM 0187693188
6 212236 LAI YEE YAN BSTM 01163039230
7 212668 JOEY WONG HUI YI BSTM 0176631816
8 211215 CHIA KAI LING BSTM 01112220042
9 211149 WONG XING LAN BSTM 01116197497
10 211975 AINA FARISHA BINTI BADRUL BSTM 0176994159
HISHAM
TABLE OF CONTENT
CONTENT PAGE
EXECUTIVE SUMMARY 1-2
1.O COMPANY INTRODUCTION
1.1 VISION, MISSION, LOGO 3
1.2 COMPANY BACKGROUND 3-4
1.3 OWNERS’ BACKGROUND, COMPANY OWNERSHIP, LOCATION 5-16
1.4 PRODUCT DESCRIPTION 17
2.0 BUSINESS ORGANIZATION STRUCTURE
2.1 ORGANIZATIONAL CHART 18
2.2 LIST OF RESPONSIBILITIES AND DUTIES 19-22
2.3 REMUNERATION BUDGET 22-23
2.4 ADMINISTRATIVE BUDGET 23
3.0 MARKETING PLAN
3.1 MARKETING GOALS 24
3.2 MARKETING ANALYSIS 25-28
3.3 TARGET MARKET PROFILE 28-30
3.4 SWOT ANALYSIS 30
3.5 MARKETING STRATEGIES (4P) 31-32
4.0 OPERATION PLAN
4.1 PRODUCTION CONCEPT 33
4.2 RESEARCH AND DEVELOPMENT (R&D) 33-34
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4.3 PRODUCTION PROCESS FLOW 34-36
4.4 PRODUCTION UNIT PLAN AND GENERAL OPERATION 36-37

SCHEDULE
4.5 MATERIALS, EQUIPMENTS NEEDS AND SUPPLIERS 37-40
4.6 QUALITY CONTROL AND QUALITY ASSURANCE 40
4.7 OPERATION MAINTENANCE 40-41
4.8 RISK MANAGEMENT 41-42
5.0 FINANCIAL PLAN
5.1 FINANCIAL STATEMENTS 43-44
5.2 CASH FLOW 44-45
5.3 BREAKEVEN POINT 45-47
6.0 CONCLUSION 48
7.0 REFERENCES 49
8.0 APPENDICES
8.1 LOGO 50
8.2 PROMOTION AND POSTING EXAMPLES FOR MARKETING 50-53
8.3 SOCIAL MEDIA PLATFORMS AND CHANNELS USED FOR 53-54

MARKETING
8.4 PRODUCT FOR INACE 54
8.5 QUESTION IN SURVEY FORM 55-56
8.5 BUSINESS MODEL CANVAS (BMC) 57
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EXECUTIVE SUMMARY
inACE is a start-up business which is run by 10 people in a group that sells customized design
phone cases. The main concept and uniqueness of the product is the originality, creativity and
innovative designs on the phone case. Therefore, inACE is established to inspire the creativity of
customers by creating the most special customized design and implementing the best service.
Nowadays, many teenagers like to have exquisite and unique designs on their personal
belongings to show their characteristics and personalities. Phone is the personal stuff that will
hardly get away from youngsters nowadays because we will use it all the time for replying to
messages, surfing social media, watching videos and others. Therefore, inACE came out with the
idea of having unique customized design on phone cases to allow teenagers to unleash their own
creativity on their personal phone case and at the same time can show their characteristics to
others.
Moreover, inACE will be the first company in Malaysia that provides the most reasonable and
affordable price to customers while having customization service. Our company observes that the
current price on the market is too high from the customer budget and the product quality is not as
customer expectations. In order to let everyone have the opportunity to enjoy the customized
design of phone cases, our company comes out with a consumer-friendly price but meanwhile
provides the quality design phone case to our customers.
However, how can our company provide affordable prices to our customers, while at the same
time ensuring high quality products? inACE are having a reliable and dependable quality
assurance team which every member will always ensure quality of jobs and will not perfunctory
to all the details from planning stage until our customers receive the products. By having strict
quality standards and procedures, we can minimize the loss and also eradicate the additional cost
due to technical errors.
inACE is a company which will run our business online through social media to keep up the
current trends of online shopping. In order to understand the market segmentation, market trend
and consumer’s preferences, we carried out marketing analysis, competitor analysis and also
SWOT analysis to have more understanding of our business and also our customers. By using the
results from analysis, our company is able to decide our marketing strategies, which are digital
promotion, special packages, occasional promotion and more. This is to attract customer’s
interest in our company’s products while adapting to the COVID-19 pandemic.
We believe that our products and services have high potential and are able to become a trend
among customers. Therefore, our company would not want to restrict our products within a
specific market size, but hope to attract as many customers as possible. However, since we are
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still a startup business, our current main focus will be on UPM students, lectures and staff. We
also target our market to couples, friends and family by providing several special packages that
are able to attract their attention.
Besides, our company has decided our operation plan to ensure a smooth process flow of our
operation. It includes the general opening hours, production process, suppliers, quality control,
research and development (R&D), risk management and others. By having the operation plan,
we can maintain the effectiveness and efficiency of our production and make sure all the
products are high quality and reach the customers’ expectations.
Finally, we will have a financial plan which states about the production and marketing cost, cash
flows and also the breakeven point. Through the financial analysis, our company is able to
foresee our financial status in the future and is able to make some adjustments to minimize the
financial crisis that will be faced in the future.
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1.0 COMPANY INTRODUCTION
1.1 Mission, Vision and Logo
Mission
To inspire the creativity of customers by creating the most special customized design and
implementing the best service.
Vision
Cultivate creative and innovative culture and lifestyle among the society.
Logo
Figure 1.1.1 Logo of inACE
Our company name is inACE. inACE stands for innovative and creative entrepreneur and we
simplified the company’s name, with the capital A, C and E in a hexagon. The hexagon
represents unity and mystical ideas of our company which has a lot of creative and innovative
ideas for designing our custom-made products. We use black as our logo colour because black
can convey strength, intelligence, power and mystery and it is very consistent with our products.
1.2 Company Background
Company Name
inACE company having 10 owners from Group 1 of subject MGM3180 Basic Entrepreneurship
in University Putra Malaysia . A discussion among 10 of them is carried out with the final
decision of name which is inACE. The idea to think about this name is they hope their mind on
business will always think out of the box, and be creative and innovative at the same time. Here
we go with the name inACE, innovative And Creative Entrepreneur.
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Company History
inACE company was founded in October 2021. The establishment of the company was first
started when a group of 10 students of UPM came up with the idea to create a pathway to show
their creativity and designing skills on phone cases. At the early stage, most of our members
realized that they like to change their phone case frequently and most of the designs are not
available in Malaysia. Therefore, they started to consider customization services where we can
receive creativity from our customers and also provide a pathway for the owners of inACE to let
their imagination happen. Here we come to our final business idea and inACE was formed as a
custom phone case company.
Business Profile
Name of Business inACE
Business Address Jalan Universiti 1 Serdang, 43400 Seri

Kembangan, Selangor.
Telephone Number 018-2421277
E-mail theacemgm3180@gmail.com
Linktree https://linktr.ee/inACE_company
Main Activities inACE company is selling four types of phone

case customization service:
1. Creamy gel type
2. Sticker type
3. Button (normal or special) type
4. Dry plant type
inACE company also provides phone case
renewal service.
Date of Commencement 1/11/2021

Table 1.2.1 Business Profile
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1.3 Owners' background, Company Ownership, Location
Owner’s Background
There are 10 owners in inACE. All of the owners are students of Bachelor Food Science and
Technology in UPM. The tables below show the personal information and biodata of every
owner of inACE and their position.
Table 1.3.1a Profile of Fang Yi Min
Fang Yi Min
Position Chief Executive Officer (CEO)
Sex Female
Age 19
Date of Birth 16/06/2002
Email ymfang0616@gmail.com
Address 33, Jalan Lading 43, Taman Puteri Wangsa, 81800 Ulu Tiram, Johor.
Handphone No. 010-6603177
Marital Status Single
Nationality Malaysian
Educational Bachelor of Food Science and Technology with Honours

Background
Skills ● Leadership experience

● Organizing skill
● Attention and detail
● Written and Verbal Communication skills
● Strategic planning
● Analytical and problem solving skills
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Table 1.3.1b Profile of Joey Wong Hui Yi
Joey Wong Hui Yi
Position Marketing Manager
Sex Female
Age 19
Email wjoey939@gmail.com
Address B-4, Jalan Kenanga 3/19, Rumah Pangsa, Taman Kenanga Seksyen
3,75200 Melaka.

Background
Skills ● Teamwork
● Leadership experience
● Multitasking
● Time management
● Self motivation
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Table 1.3.1c Profile of Sim Joe Shin
Sim Joe Shin
Position Sales Representative
Sex Female
Age 20
Email 210689@student.upm.edu.my
Address 6, Lorong Harmoni 4, Taman Vila Harmoni, 13300 Tasek Gelugor, Pulau
Pinang

Background Diploma in Food Estate Management
Skills ● Teamwork
● Customer service
● Time management
● Self motivation
● Emotional intelligence
● Photography and Videography
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Table 1.3.1d Profile of Lai Yee Yan
Lai Yee Yan
Position Administrative Manager
Sex Female
Age 19
Email garrylaw12@gmail.com
Address 11, Jalan Sri Panti, Taman Johor, 81200 Johor Bahru, Johor.

Background

● Teamwork
● Creative
● Adaptability
● Written and verbal communication skills
● Empathy
● Microsoft Office skills
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Table 1.3.1e Profile of Aina Farisha Binti Badrul Hisham
Aina Farisha Binti Badrul Hisham
Position Administrative Staff
Sex Female
Age 20
Email ainafarisha4101@gmail.com
Address No. 54, Jalan RP 10/9, Taman Rawang Perdana 2, 48000 Selangor.

Background
Skills ● Adaptability
● Teamwork
● Empathy
● Self motivation
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Table 1.3.1f Profile of Tan Chun Kiat
Tan Chun Kiat
Position Operation Manager
Sex Male
Age 19
Address No.2, Jalan Berlian 2, Taman Daiman Jaya, 81900 Kota Tinggi, Johor.

Background

● Written and Verbal Communication skills
● Teamwork
● Creative
● Empathy
● Multitasking
● Time management
● Self motivation
● Print design
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Table 1.3.1g Profile of Eng Qian Yu
Eng Qian Yu
Position Operation Staff
Sex Female
Age 19
Address 570, Jalan 13, Taman Bukit Mutiara, 70200 Seremban, Negeri Sembilan

Background
Skills ● Analytical and problem solving skills

● Teamwork
● Multitasking
● Time management
● Self motivation
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Table 1.3.1h Profile of Tan Keng Jun
Tan Keng Jun
Position Finance Manager
Sex Male
Age 19
Email tan.loljun@gmail.com
Address No. 44, Jalan Seri Tiram 3, Taman Seri Tiram, 45500 Tanjong Karang,
Selangor.
Handphone No. 012-374 8324

Background
Skills ● Analytical and problem solving skills

● Adaptability
● Leadership experience
● Teamwork
● Empathy
● Time management
● Self motivation
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Tabel 1.3.1i Profile of Chia Kai Ling
Chia Kai Ling
Position Accountant
Sex Female
Age 19
Email kailingchia02@gmail.com
Address No. 79, Bagan Sungai Pulai, 45200 Sabak Bernam, Selangor.

Background
Skills ● Accounting skill

● Adaptability
● Teamwork
● Creative
● Multitasking
● Time management
● Self motivation
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Table 1.3.1j Profile of Wong Xing Lan
Wong Xing Lan
Position Customer Service Representative
Sex Female
Age 19
Email xinglan020901@gmail.com
Address No. 72, Blok 9, Rumah Rakyat Gemencheh 2, 73200 Gemencheh, Negeri
Sembilan.

Background
Skills ● Customer service

● Teamwork
● Creative
● Empathy
● Time management
● Self motivation
● Microsoft Office skills
● Print design
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Company Ownership
The form of business entity of our company is partnership. All of the 10 owners of inACE
company will work hand in hand as partners to each other in order to do the business for gaining
profits. The internal relationship of the partners will be decided based on the partnership
agreement of inACE company.
The basic criteria will be included in the partnership agreement are as follows:
1. The profit or losses are to be shared equally between the partners.
2. Each partner is required to contribute RM100.00 as capital.
3. There will be no interest paid on a partner’s capital.
4. Every partner will be entitled to a salary based on their role and performance in the
company as compensation.
5. All the partners are jointly and severally liable for the debts and obligations of the
company.
6. Decisions on a daily basis in business activities need to have the majority consent of all
partners while decisions that involve changes that regularly occur must have the
unanimous consent of all partners.
7. The withdrawal and introduction of a partner must have the unanimous consent of all
existing partners.
Location
Our company does not have any physical store as we will be running our business fully online.
There are a few reasons for our company to run the business online. First and foremost, people
nowadays tend to use online shopping platforms compare to purchase products and services at
physical stores due to the Covid-19 pandemic as well as the convenience of online shopping.
Thus, we are able to widen our market without considering the geographic factors. Secondly,
running an online business only needs a small amount of capital, hence, it is easier for us to start
our business as there is less burden on the capital issues, especially when we are still a student or
fresh graduate. Thirdly, online business is more flexible because we are not tied to a particular
workplace and working hours, therefore, it is suitable for us who are students who need to study
full-time at university even after we graduate, we still have flexibility on time and location which
allows us to enjoy our life while working.
The platforms used by our company to run the online business are our company’s Website,
Facebook, Instagram, Tiktok, WhatsApp, Telegram, Shopee, Lazada and Linktree. Linktree is
used to gather all the links of inACE’s online platforms.
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Figure 1.3.3a Online Platform used by inACE company
In addition, for the phone case renewal service, the customer will need to meet us at UPM,
Serdang campus to hand in the old phone case. However, there will not be any specific location
for the customer to meet us but we will decide a location to meet up with the customer through
any platforms we used and the location also could be outside the UPM, Serdang campus but
around the Serdang area according to the customer’s preference and convenience.
Figure 1.3.3b Location of UPM, Serdang and Serdang area
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1.4 Product Description
The products that we choose to sell are based on current trends, which phone case has been used
by many people, especially those who like to customize their own phone case. Besides, we also
looked into different aspects while choosing products to be sold, such as how to customize the
phone case, the type of phone case to sell and list goes on. After several discussions and
finalisation, we choose to sell custom-made products, particularly customized phone cases
service, old phone cases renewal service and sets of phone cases design materials selling.
All our business will go online as well as physically. For the customized phone case option, there
are a total of four types of designs that we will provide, which are Creamy Gel type, Dry Plant
type, Sticker type and Button type. The design materials that we used are basically creamy gel,
deco sticker, dry plants, cartoon sequins, small decorations, pearl beads and buttons. Customers
can customize the phone case by telling us their preferences and requirements through pre-order.
Then, we will start to design the transparent phone case once we receive the order. Besides, our
company also provides phone case renewal services for our customers. For this option, we only
provide to customers who are able to reach us physically. They can give us their old phone case
and we will help to clean and after that help them to redesign according to their requirements.
This service advocates one of the principles of 3R, which is reuse. The old phone case will not be
thrown away, but it will be reused again in the form of a new design. For customers who accept
renewal service, there will be a cash back or discount provided. In addition, there will be another
option which customers might want to design their phone case by themselves. For this type of
customer, they can choose to buy the sets of material that our company provided. Lastly, our
company will provide a present-packing service for customers who want to send the phone case
as a present to their friends. We will provide beautiful packing and also help to write the blessing
words for their friends.
Our product is the creativity and unique design that we provide to our customers. Our phone
cases are special because all drawings are custom-made and we design it according to the
customer’s requirement. So, every phone case will be different even though they have the same
design. Not only that, our company offers discounts to couple packages, friendship packages and
family packages to encourage our customers to purchase more cases at the cheapest price. For
certain customers, our company also offers a "bag of the Week" which includes 7 different
design cases to cater for those who like to change their phone cases frequently. In addition, our
company provides the concept of "everyone can be their own phone case designer" by providing
them with materials to unleash their creativity. For those who are inexperienced but want to try
their hand at designing mobile phone cases, our company will provide some related materials
and easy to understand instructional videos to teach you how to make and design your own
mobile phone cases. Lastly, our company provides a special discount for UPM students, lecturers
and staff, which is they are going to have a 10% discount if they receive our renewal service.
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2.0 ORGANIZATION, ADMINISTRATION AND HUMAN RESOURCE PLAN
Organization, administration and human resources plan is very important to ensure the growth
and performance of the company by managing the human resources efficiently and effectively.
On top of that, this planning also helps the company to function well by analyzing the workforce
required and introducing a proper organization structure as well as preparing the administrative
budget.
2.1 Organization Chart
Figure 2.1.1 Organization chart of inACE company
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2.2 List of Responsibilities and Duties
The responsibilities and duties of each company’s staff according to the designation are listed in
the table below.
Table 2.1.1 List of duties and responsibilities of each position hold
Name Position Duties and Responsibilities
Fang Yi Min Chief Executive ● Manage the overall operations and resources
Officer in the company.
● Analyze and evaluate all the operations in the
company.
● Develop and implement a strategic plan for
the company’s growth.
● Set the vision of the company and implement
it in the company.
● Create a healthy and positive working
atmosphere and cultivate good company’s
culture among the staff.
● Lead and conduct meetings with all the staff
in the company.
Lai Yee Yan Administrative ● Coordinate the administrative system and

Manager workflow of the company.
● Act as a supervisor to the staff in order to
manage their performance in the company.
● Facilitate the communication throughout the
company.
● In charge of doing the recruitment of new
staff when needed.
● Create rules and procedures for staff training,
coaching, counselling, and career
advancement.
Tan Keng Jun Finance Manager ● Monitor the day-to-day financial operations
within the company, such as payroll,
invoicing, and other transactions.
● Research and analyse financial reports and
market trends.
● Prepare monthly and annual reports after
analyzing financial data.
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● Compare the company's actual performance
to the business plans by evaluating
expenditures, price, variable contributions,
sales results, and the company's actual
performance.
● Oversee the budgeting for the company.
● Keep track of the company's financial
situation and performance in order to detect
areas for potential improvement.
Joey Wong Hui Yi Marketing ● Manage the promotion and positioning of the
Manager products and services sells by company
● Website management.
● Social media management.
● Copywriting and content management.
● Data analytics.
● Establishes marketing goals based on past
performance and market forecasts.
● Adjusts marketing campaigns and strategies
as needed in response to collected data and
other feedback.
● Research and analyze market trends,
demographics, pricing schedules, competitor
products, and other relevant information to
form marketing strategies.
Tan Chun Kiat Operation ● Perform quality control on the products and
Manager services provided by the company.
● Oversees operational systems, processes, and
infrastructure while looking for opportunities
of improvement or revision.
● Analyze product markets and streamline
processes related to product development.
● Manage the inventory stocks and production
capacity of the company.
● Track and maintain the budget for the
operational cost and product cost.
Chia Kai Ling Accountant ● Accounts and tax returns preparation.

● Monitor spending and budgets.
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● Audit financial transactions and documents
● Financial forecasting and risk analysis.
● Advise on improvement in cost reduction and
increase of profit.
● Compiling and presenting financial and
budget reports.
● Comply with financial policies and
regulations.
● Keeping account books and systems up to
date.
Sim Joe Shin Sales ● Analyze the costs and benefits of existing and
Representative potential consumers.
● Maintaining positive business relationships to
ensure future sales.
● Selling products and services using solid
arguments to prospective customers.
● Coordinating sales efforts with marketing
programs.
● Understanding and promoting company
programs.
● Preparing and submitting sales contracts for
orders.
● Maintaining client records.
● Answering client questions about credit
terms, products, prices, and availability.
Wong Xing Lan Customer Service ● Share the information about products and
Representative services with customers.
● Respond to the customer inquiries.
● Acknowledging and resolving customer
complaints.
● Process the orders and returns.
● Document the customer interaction,
complaints, transactions and comments.
● Communicate with customers through various
channels.
● Ensure customer satisfaction and provide
professional customer support.
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Aina Farisha Binti Administrative ● Provide administrative support to ensure
Badrul Hisham Staff efficient operation of the office.
● Coordinate the preparation of reports, analyze
data, and identify solutions to administrative
issues.
● Organize and schedule appointments and
meetings.
● Use the computers and file systems to collect,
organise, and store data.
● Take accurate minutes of meetings.
● Provide support to the Administrative
Manager as and when required.
Eng Qian Yu Operation Staff ● Monitor sales orders and supplier relations.
● Arrange the shipping and delivery of
products.
● Keep updated on industry trends and the
consumer market.
● Maintain logs and spreadsheets for all office
activities.
● Contribute creative ideas to innovation of
new products.
● Provide support to the Operation Manager as
and when required.
2.3 Remuneration Budget
Staff Salary Employee Provident Social Security Total

Fund Contribution monthly
(EPF) (SOSCO) remuneration
1 CEO RM100/month - - RM100
2 FINANCE MANAGER RM100/month - - RM100
3 MARKETING RM100/month - - RM100

MANAGER
4 ADMINISTRATIVE RM100/month - - RM100

MANAGER
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5 OPERATION RM100/month - - RM100
MANAGER
6 ACCOUNTANT RM100/month - - RM100
7 SALES RM100/month - - RM100

REPRESENTATIVE
8 ADMINISTRATIVE RM100/month - - RM100

STAFF
9 OPERATION STAFF RM100/month - - RM100
10 CUSTOMER RM100/month - - RM100

SERVICE
REPRESENTATIVE
Table 2.3.1 Remuneration Budget of inACE company
2.4 Administrative Budget
Items Assets (RM) Working Capital (RM) Others (RM)
1 Equipment 296.00 - -
2 Yearly salary - 12000.00 -
3 Material cost - 518.40 -
4 Business registration - - 100.00
Total 296.00 12518.40 100.00

Table 2.4.1 Administrative Budget of inACE company
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3.0 MARKETING PLAN
Marketing is one of the important factors that can help the company to increase the sales of its
products, which includes market research, SWOT analysis and marketing strategies.
Consequently, this can transform the company’s profit to increase significantly. Besides that, the
customers' needs and wants can also be fulfilling if the marketing project of a company works.
For example, variation of the company product can make the customer satisfied and feel that
their needs are fulfilled. Our marketing plan has been carefully created and executed to make
sure the company could make a profit, minimize the chance of losing and compete with other
competitors. Here are some strategies overview below:
A. Targeting the Market and Customer
Businesses, especially the entrepreneur need to identify which and who are their target
market that will use our product and services offered by the business. Market target can
be interpreted as a user or consumer and entrepreneur must be clearly know about
customer profile while they want to sell the product and service. Besides, we must
consider the customer demography such as age, gender, income, ethnics, preferences, and
it’s also dependent on the psi co-graphic.
B. Trend and Market Size
The entrepreneur that is involved must do research about the market. The main reason is
to identify the current trend that must be considered in the market to sell our product. One
of the important things that we must do are statistics that provide all the data to support
statements that will be made. Continuing research about customers will help us to collect
their habits and the habits change, especially new generations or people that live in the
city. This will help to increase our selling product.
C. Marketing Strategies
This strategy was the way to make sure our product abides and is realistic to any market
according to time, trend and customer’s preferences. The product, price and promotion
elements are marketing elements that are merged and formed into a business marketing
strategy.
3.1 Marketing goals

1. To make our products well known to upm students, and also to the public from different
states in Malaysia.
2. Increase the profits of our company more quickly and regularly.
3. To satisfy and fulfil customer’s needs and preferences.
4. To meet the high market demand for mobile phone cases.
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3.2 Marketing analysis
Questionnaire analysis
During the one week period of 6 December to 12 December, our company had shared a
questionnaire in google form through online social media. This is for the purpose of survey and
research. 40 responses were generated and analysed in order to plan our marketing strategies,
increase our sales and focus on our potential customers.
Figure 3.1.1 represents the pie chart of the percentage of respondent genders.
We noticed most of our participants are female followed by males, 70% and 30% respectively, as
represented by the pie chart in figure 3.1.1. This will help us in analysing the market and
focusing our products according to female preferences.
Figure 3.1.2 represents the pie chart of the smartphone used by respondents.
We noticed that Iphone and Oppo were used by most of the respondents, followed by Huawei,
Xiaomi and Vivo, which are 22.5%, 15% and 12.5% respectively. Through this analysis, we can
focus our products on the Iphone, Oppo, Huawei, Xiaomi, and Vivo markets.
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Figure 3.1.3 represents the pie chart of the purpose of buying phone cases.
Figure 3.1.4 represents the pie chart of the ways that respondents normally shop for a mobile
phone case.
Figure 3.1.5 represents the pie chart of the frequency of respondents buying a phone case.
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Figure 3.1.6 represents the pie chart of the consideration of buying a phone case.
Furthermore, we also noticed that most of the respondents will buy a phone case for impact
protection. Also, the fashion and attractive design will also affect the buying impact of
customers. Some people will change their phone case frequently according to their mood,
lifestyle and outfit. They normally will purchase on online shopping platforms especially from
shopee due to the convenience and low price. Hence, we produce products that are unique, cheap
and customized to all people that will show their taste and personality.
Figure 3.1.7 represents the pie chart of whether the respondents designed their own phone case
before.
Figure 3.1.8 represents the pie chart of the choices for the respondents to change or redesign
their phone case.
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Figure 3.1.9 represents the pie chart of the prices that the respondents are willing to pay for.
Last but not least, we know our phone case renewal service does not work because 87.5% of
respondents prefer to buy a new phone case rather than redesign their old phone case. 55% of
respondents preferred to buy phone cases between RM11 and RM20. It is also important to
consider the sustainability and durability before purchasing the phone case.
3.3 Target Market Profile
I. Market Segmentation
These products are aimed towards all generations ranging from child to old age such as
teenagers, workers, children and even elder people who are considered as individuals that use the
phone case every day. ‘InACE’ is the phone case designer that helps the customers to customize
their own phone case by sending their preferences and requirements to us. Phone case is
necessary for smartphone users because it can helps in impact protection, the phone case is
sustainable because even a thin layer of shock-absorbent TPU can save the screen from disaster,
act as fashion statement, which can shows their own personality and taste of smartphone users,
and the price is reasonable.
Type of segmentation Segmentation criteria Our target segment
Geographic Region UPM campus, Local resident and Tourist,

and even from other states.
Density Urban and Rural
Demographic Age No specific age for smartphone users
Occupation Children, Students, Employees, Retirees
Gender Male and Female
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Psychographic Social class Lower, Working and Middle class, Upper
class
Lifestyle Stylish, Simple
II. Market Trends

From our survey and research that we have done, we found that people or customers in general
desired products that have good looking appearances, quality and sustainability. Hence, InACE
provides a chance to let customers to unleash their creativity by providing customization service
and sell the design materials for them, practising the concept of “everyone can be their own
designer”. Customization of product designs that we provide is according to individual's
preferences. Overall, our products are unique and creative but at the same time retained their
functionality and aesthetics.
III. Market Size

We run our business by using online platforms such as Instagram, Facebook, Shopee and Lazada
instead of operating a physical store. Not only UPM students and staff can reach us, but also
citizens from other states can also place orders for mobile phone cases with us through our
website. So, we are expanding our business throughout Malaysia. We will provide online
consulting services and delivery services.
a. Daily Market Size

Types of market Quantity Cost per unit Total
Online platform
1. Creamy gel type 20 RM23 RM460
2. Sticker type 20 RM10 RM200
3. Button type 20 RM10 RM200
4. Button special type 20 RM12 RM240
5. Dry plant type 20 RM6 RM120
Total RM1120
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b. Competitors Analysis
Competitors Strength Weakness
STREETCASE Provide many collections Costly

Phone cases designed by
artists
Casebook Provide wide range of stylish Less phone models

designs
Affordable price
c. Market Forecast and sales

Market share for our company is about 35% as our company started small and mainly focused in
the Serdang area and UPM campus. Thus, our daily forecast is about RM392.00 per day.
3.4 SWOT analysis
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3.5 Marketing strategies (4P)
I. Product
The products that we are selling are phone cases, typically customized phone cases. Nowadays,
customized items are popular and sought after by people. People want something which is
unique and different from others to show their personalities. Customized phone cases that we
provide able to meet different wants and needs of customers and also to be specifically perfect to
every different segment of users. For customized phone cases, we provide four types of designs
which are Creamy Gel type, Dry plant type, Sticker type and Button type. The design of the
phone case is according to the preferences and requirements of our customers. When customers
get the exact phone case they want and have the ability to design it themselves, it can drive their
loyalty towards the phone case and increase their satisfaction.
II. Price
The price of our product is set according to the total cost in making the phone cases, an
affordable range for customers. However, the price of each type of customized phone case is
different due to the materials used. After calculating different aspects, the price for Creamy Gel
type phone case is RM 23, Dry plant type phone case is RM 16, Button special type phone case
is RM12, both Sticker type and Button type phone case is RM10. These are the best prices we set
after doing analysis as they are beneficial to customers and sellers. The income for each phone
case is considered a large amount for us to earn a great income especially when we are selling at
high demand.
III. Place
We mainly use online platforms such as Facebook, Instagram ,Whatsapp and Telegram to
promote our products and reach out to customers. Our customers can get the latest information or
promotion of our products through these platforms. For the Telegram channel, customers can get
an overview of our products through the chatbot. Customers can also get our products through
online shopping platforms like Shopee and Lazada. Since we are conducting the business online,
all citizens in Malaysia will be able to get our products. After that, for the phone case renewal
service, we will set up a spot in UPM campus, Serdang Selangor. UPM staff and students and
residents nearby can meet us there for the service.
IV. Promotion
1. Bag of The Week

Nowadays, people like to change their phone case frequently according to their mood,
activities and outfit. Hence, our company takes this as a chance to attract more customers.
The bag of the week is provided to meet the demand for those who like to change phone
cases frequently as there are 7 different designs of phone cases in the package.
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2. Special packages
Our company has provided special packages such as a couple package, friendship
package and family package for the customers. These special packages can let our
customers purchase our phone cases with a lower price. The special packages are a good
idea for an anniversary and show the customer's appreciation to his/her family, friends
and loved ones. These packages not only help to build a sense of belonging but also
strengthen the bonds among the couples, friends, and families. For family packages, the
phone cases can be designed according to the characteristics of family members and hold
special meaning to the family history and memories. By providing these kinds of special
packages, we believe we can attract more customers to buy our products.
3. Festival Promotion
We not only provide special packages which let our customers purchase with a lower
price, but also have promotions within the festival period such as Christmas, Chinese
New Year and Hari Raya. We observe that during festivals, people are more likely to buy
products that they seldom buy. By having this promotion, customers can buy our phone
case with a special low price during that period and we believe this will attract more
customers and increase our sales.
4. Renewal Service
Our company also provides renewal service to UPM students and staff who can reach us
by setting up a physical spot in UPM Serdang campus. The renewal service helps
customers to clean and redesign their phone cases with a 10 % discount as they follow
our regulations and conditions. In order to get the discount, they need to like and share
our social media. This service helps them to save the budget as well as practicing the
concept of recycling which is reuse.
5. Live
In this digital era, people are familiar with using social media in their daily life.
Therefore, the live function in social platforms such as Facebook, Instagram and Tiktok
can be used to keep our customers up to date with the latest information and retain them.
We will be doing live once a week on Sunday evening which is the time that there are
many people online. In every live session, we will do a demonstration on the process of
designing the phone case and introduce our products to the customers. On top of that, we
can also have some interactions with customers in the live chat box and answer their
questions directly as well as encourage them to order when the live session is going on.
We will invite some influencers who have followers around 2k to 5k to join our live
session to do the promotion and recommendations on their social media platform.
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4.0 OPERATION PLAN
Operation plan describes the essentials of a business in the business plan. It also details how the
business operates daily and throughout the year. It is vital to have an operation plan to ensure the
business can run smoothly daily and in the long term run.
4.1 Production concept
People nowadays who are living in harmony and peacefully are pursuing a higher quality of
lifestyle. Instead of buying only basic requirements, people are also willing to spend most of
their money on artistic design either on their clothes, shoes, bags or even their car design. In
order to follow up with this trend, inACE are actually providing customized phone cases for
those who are interested to have their very own phone case design. We have four types of design
which are creamy gel type, sticker type, button type and dry plant type. Customers are able to
have their favourable design through pre-order and also personal contact with us. We will first
get all their requirements and preferences for their phone cases, then start to design on the
transparent phone case after double confirming with them for the design. After completing, we
can help to send the phone cases to our customers by charging some fees.
To provide better service for special requirement customers, inACE also provides several special
services in order to satisfy their requirements. Firstly, we provide renewal service for those
customers who are nostalgic with their old phone case. We will help them to clean, sanitize,
renew and redesign their phone case with customized design. Moreover, inACE provides several
types of packages for those customers who want to buy at once for a large quantity. For example,
we provide couple packages, friendship packages, family packages and Bag of the Week for
those who want to change their phone case everyday. Other than that, our company also provides
present-packaging service for customers who want to send blessings to their friends.
4.2 Research and Development (R&D)
Based on Research and Development Productivity and Spillovers and R&D intensity, Firm
Performance and The Identification of The Threshold, research and development (R&D)
provides an important contribution to increased productivity (Wieser, 2005; Yeh et al., 2010).
R&D is a significant part of business ventures as it can help us to expand and develop our
company. It will place us in a better position to serve our customers with products or services
meant to them. Therefore, R&D is a crucial process to let us understand customer needs and
come out with the products or services to meet the market demand.
Through R&D, our team members have gained new knowledge and new understanding in the
market that we will venture into, which can potentially help us to improve our business and
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products. Our team has undergone a survey on the services or products offered by the existing
phone cases seller in this market, as well as the price. We also undergo research on the materials
and equipment that we need so that we can get the supply of the material at a reasonable price.
Due to research, we decided to start up our business to provide various types of customized
phone cases which are rare in the market with the lower price in the market.
In terms of marketing research, we have undergone a research for the customers’ favourite on
different types of phone cases in this market. We decided to consider providing the top 4 types
in our business venture.
In terms of customer feedback research, we plan to undergo such a survey to get opinion for
improvement of our business from customers through google form. In the feedback form, we will
ask the customers’ satisfaction on our products and their suggestions. For example, we will
consider to increase our customized phone case types if most customers make it as their
suggestion in the form. This will help us to improve our company.
For future potential processes, we plan to have a cooperation with UPM so that our product can
be a peripheral product of UPM. If the cooperation comes true, we will be able to insert UPM
logo in our product and this will surely be our new unique value proposition especially for UPM
staff and students, as well as alumni.
4.3 Production Process flow
I. Planning stage
Our company places our customers as our first priority, the customers are able to contact us
directly for further discussion. At the beginning of the planning stage, we will do research on our
potential market through e-survey form. We will ask questions from different aspects to confirm
the desirable product of our potential customers. Therefore, our customers are able to receive
their favourite product and best service from top to toe. This can also allow our company to
estimate the cost properly of the order taken.
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II. Production Process
1. Get materials from suppliers

Transparent phone cases and design materials are provided by suppliers. Design materials
include creamy gel, deco stickers, dry plants, cartoon sequins, small decorations, pearl
beads and buttons. All materials are stored in one of the members' rooms as a storehouse.
2. Customer contact for details

After seeing our posting in Facebook, Instagram, Tiktok, WhatsApp, Telegram and
Website, customers can click into linktree and direct to our WhatsApp or Telegram for
more details of the product and services. Our company will provide customer service to
ask for more details of their preferences and requirements.
3. Order received
After the customer fully understands and tells us their requirements, we will send them a
product order form to confirm the order. They can also use Shopee and Lazada as more
trusted platforms to buy online.
4. Confirm design
After receiving orders, we will double confirm with customers about the design to
prevent mistakes during operation.
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5. Start design
Our company will start to design our customer phone case using creamy gel, deco
stickers, dry plants, cartoon sequins, small decorations, pearl beads and buttons based on
their order.
6. Confirm personal details

Before sending the product, we will double confirm again with customers about their
personal details to prevent mistakes during operation.
7. Packaging and Labeling

Our company will start packaging our customers phone cases and label our company logo
on the packaging as a brand identity.
8. Send product
Our company will send the product to our customers based on the personal details that we
have received before.
9. Product received
After sending the product, we will keep track of the product and make sure that our
customers can receive the product within 1 to 3 days. We will also double confirm with
our customers to make sure that they received the products.
10. Collect reviews and feedback

After confirming that our customers receive products, we will collect reviews and
feedback from the customers. There are 4 methods for the reviews and feedback
collection, which are through private message with the customers, posting reviews stories
of customers on Facebook and Instagram, reviews on Shopee and Lazada and lastly
feedback form.
4.4 Production unit plan and general operation schedule
I. Production unit plan

Our company will purchase a total of 100 transparent phone cases from our suppliers at the start
of our business. And also to purchase different types of design materials with different quantity
for each material from different suppliers. By having all the materials, we can come out with 100
designed phone cases and sell them through different platforms such as Facebook, WhatsApp,
Telegram, Shopee and Lazada.
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II. General operation schedule
The general working days of our company are on weekdays, 8am to 8pm and on weekends, 8am
to 4pm. However, our company still intends to provide 24/7 online services to our customers. In
order to implement it, our company fully utilises the function of auto-reply on social media such
as Facebook, WhatsApp and Telegram. Moreover, customers can also buy our product through
Shopee and Lazada if they are out of working hours. Therefore, these approaches enable our
customers of different needs to keep in touch with us from time to time when they want to have
further information about our products and services.
TIME SCHEDULE
8.00am - 3 workers will check back any messages that couldn't reply by auto-reply
9.00am function and start to reply to customers’ messages though different digital
platforms. Other workers will get ready to set up the business for the day.
9.00am - 3 workers will continue for customer service. 2 workers will work on to
12.30pm check the order from customers and contact customers for order
confirmation. The other workers will start to design the phone cases after
order confirmation.
12.30pm Lunch break
-13.30pm
13.30pm 2 workers will pack all the product into packages and prepare to send the
-17.00pm parcel to the courier company. 2 workers will check for the remaining
quantity of transparent phone case and materials left. Every worker
continues their work until 5.00pm. All the workers will leave after checking
that all the power is switched off.
4.5 Material and equipment needs and suppliers
Material needed
1. Transparent phone case
Transparent phone case is the key material for our product because all of the design will
be made on it. Since every person will have a different type of phone used, our company
will get different phone types’ transparent phone cases from our suppliers in order to
fulfill the different needs of customers.
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2. Creamy gel
Creamy gel is one of the most important materials in our product. It will be used in one of
the customised designs of our company, which is Creamy gel type. Our company will use
different colours and even mix them when designing the phone case for our customers.
3. Deco stickers
Deco stickers are the main material for the Sticker type design of phone cases in our
company. It is suitable for phone cases that are meant for the vibrant colours and themes
and more attractive designs.
4. Dry plants
Dry plants will be used as the main materials for design of Dry plant type. It is suitable
for customers who prefer natural style. We will have different types of dry plants with
different colours and sizes.
5. Cartoon sequins
Cartoon sequins is one of the materials that will be used in Creamy gel type design. We
will have different types of cartoons such as Mickey Mouse, Pokemon, Little girl and
more. Customers can tell us which cartoon they like and we will design based on it and
add some cartoon sequins after using creamy gel.
6. Small decorations
Small decorations will be used in most of the designs in our company because it acts as
an accessory to make our design looks attractive. We have small decorations that are
shiny and blinking, elegant-looking, cool and also funny-looking.
7. Pearl beads
Pearl beads are one of the materials that can be used in all types of design. It is suitable in
a design that is cute and elegant-looking. We will have different colours and sizes as well
for pearl beads.
8. Buttons
Buttons play important roles in our button type design and special button type design. We
have distributed it into two parts, which are normal button type and special button that
will have a special pattern and structure on the button.
9. Glue sticks
Glue sticks in one the big part is some of our design because we need to use it to paste the
small decorations, buttons, and others in our design. Our company uses glue sticks
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instead of other types of glue because we think that glue sticks can help us to paste all the
materials in a more detailed and exquisite way.
10. Resin
Resin is a material that will only be used in Dry plant type design for the phone case. It is
used to coat the entire back of a phone case using the paint brush. This can help the dry
plant clearly to be seen and makes the phone case look shiny.
Equipment needed
1. Hot glue gun
We use a hot glue gun for pasting large cartoon sequin. This is because cartoon sequins
are larger and heavier than normal small decorations. So to prevent large cartoon sequins
from falling from the design, we will use hot glue which has stronger viscosity.
2. Vacuum sealer machine

Our company will need a vacuum sealer machine for packaging of phone cases. Through
sealing, it can protect the packages from damp, and jostling damage. It can also protect
the product from dust and moisture which cause damage to our products.
3. Renewal cleaning set

Renewal cleaning set is basically a multi-purpose cleaner that will be used in one of our
company’s services, which is the renewal old phone case service. We will help our
customers who receive this service to clean their old phone case by using the renewal
cleaning set.
Suppliers
We get our design materials from different suppliers in order to get the most affordable price for
our company. After discussion among members, a few suppliers that we think can provide a
rather high quality material but with a more affordable price are mentioned.
Firstly is the key material for our products, which is a transparent phone case. Our company will
get the transparent phone case from different suppliers according to different brands of the phone
such as Iphone, Huawei, Oppo, Samsung and more. Our suppliers are Pumpkin Go Go Go
Store which supply for Iphone phone case, Mr. Huang Digital Wholesale Store which supply
for Huawei phone case, Ke Bei Phone Accessories Wholesale for Oppo phone case, Ms. Leaf
Hand-craft Store for Samsung phone cases and many other suppliers who supply different
brands of phone cases.
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Moreover, our company also gets our supplies for design material from different suppliers to
ensure diversity of our design materials. Our suppliers are 3C DIY Big Rabbit Accessory Shop
for creamy gel, both Close to Me Warm You Grocery Store and XiZe Office Franchised
Shop for deco stickers, ZUO flagship store for dry plants, both DIY Material Store and Mr. Y
Cloth Material Store for buttons, Palande Household Flagship Store for cartoon sequins,
Premium DIY Hand-craft Accessory Shop for pearl beads and many other suppliers.
4.6 Quality control and Quality Assurance
In manufacturing, quality control (QC) is a process that ensures customers receive products
free from defects and meet their needs while quality assurance (QA) is a way of preventing
mistakes and defects in manufactured products and avoiding problems when delivering products
or services to customers. (Kelly Stanton, June 2021)
https://www.qualio.com/blog/quality-assurance-vs-quality-control
Our company always guarantees high quality products, so we take the responsibility to ensure
customers get the proper product and prevent mistakes in manufacturing. After we receive orders
from customers, we will ask for the design that they want to customize on the phone case. Then
we will do a draft on paper and snap it to the customer so they can preview the design of their
phone cases. Any changes of the design is allowed after customers preview the design. Before
we proceed to produce the customized phone case, we will make a confirmation with the
customer by showing them the final design. Changes are not allowed once we proceed to the
next step to produce phone cases. This will help us to prevent making mistakes and defects in
manufacturing. It will ensure that customers receive the product that they want.
For the quality of customized phone cases, we have undergone research on the supply of the
materials. We choose the seller who has a high rating and good review in Shopee and Taobao to
be our supplier. It can help us to ensure the quality of the materials we use so our product quality
will be ensured indirectly. We also ensure that the sticker, button or dry plant is paste properly on
phone cases to prevent the sticker, buttons and dry plant dropping off. We also choose using a
small box to pack our product and deliver it to customers so that we hope that the product will
not be worned out during delivery. If this situation happens, we will provide return service in
which we return money to the customer.
4.7 Operation maintenance

Operation maintenance refers to the care and minor maintenance of the machine in order to
improve the quality of the product and service while also ensuring that the machine functions
ideally. Our company’s product only requires one machine to make the packaging. All of the
manufacturing for our product is done by hand because it is a custom-made item. As a result, our
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company only does operating maintenance for vacuum sealer machines. Every six months, a
maintenance service will be performed. This will ensure that the machine can run smoothly
without errors.
4.8 Risk management

The process of identifying, analyzing, and responding to risk or unexpected problems is known
as risk management. This is critical since it has the potential to extend our company’s growth and
survival. As a result, we must take precautionary steps to avoid or reduce the impact of risk on
our company or business. There are a few risks that our company should be aware of.
One of them is that the product is not similar to the customer’s thoughts during online shopping.
Customers might be unsatisfied with our product since they have high expectations toward the
design of our product. During this pandemic period, most customers will be affected by this
problem. This is due to the fact that they are unable to see the product with their naked eyes or
touch the physical product. This will also be one of the obstacles to our business. To overcome
this risk, we need to work together. Every decision or design is the result of a group discussion.
Besides, our company will also make double confirmation before shipping our product. We will
ensure that the product we ship out is identical to what our customer requested and with zero
defects. We also have to check for the information on the packaging such as the receiver’s name,
contact information, and also address. As a result, our customers can have complete faith in us
and know that all of our products will be of excellent quality and suit their needs. In addition, our
customers also can give their opinion on the design before we proceed with the transparent
phone case. Aside from that, our company also provides a refund or return service if a customer
discovers the product has defects. By doing so, our customers will trust and believe in our
company. Customer service has always been a primary focus for our business.
Next is the quality of the phone case. Thus we need to look for a low-cost and high-quality
transparent phone case. This will ensure that the phone case we sell is less likely to be damaged
and will last longer. Transportation issues are one of the dangers. This is due to the 3D shape of
our customized phone case. Hence, incorrect packaging may cause damage throughout the
transportation process. One of the solutions is we need to wrap the phone case with an air bubble
sheet. The air bubble sheet’s purpose is to absorb shock and minimize the impact during
shipping. After that, we also need to put the phone case inside a plastic bag to prevent it from
getting dirty. Aside from that, we must engage with the shipping company to ensure that our
products are handled gently and carefully, or we write handles carefully outside the plastic bag as
a caution to the delivery person.
One of the dangers that our company must deal with is being unavailable or out of stock. To
overcome this problem we need to get more transparent phone cases and materials from our
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supplier. We must also devote effort to evaluating the market and determining where demand
exists. As a result, we may prepare more phone cases in response to their demand.
The next risk is that individuals would want to keep their old phone case in order to save money.
For this type of issue, our company offered phone case renewal services. The customer who
receives this service will have a cashback on their next purchase. This can help our customers
give their old phone cases a new lease on life while also saving their budget.
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5.0 FINANCIAL PLAN
5.1 FINANCIAL STATEMENTS
Capital
Capital is the money or wealth needed for a company to start a business. Capital is an important
requirement in a business in order to purchase assets and maintain their operations. Capital helps
a company in stabilizing financial resources. For InACE, the main cash input is capital. Our
starting contribution per owner is RM150. The total owner in our company is 10 people. Hence,
the total capital is RM1500.
Delivery Fee
The delivery fee is charged by the customer themselves. For customers from west Malaysia is
RM8.90 while the delivery fee for customers from east Malaysia is RM12.
Capital Expenditure (CAPEX)
Asset Quantity Cost per unit(RM) Total cost (RM)

Hot glue gun 3 15.00 45.00
Renewal cleaning set 1 16.00 16.00
Vacuum Sealer Machine 1 60.00 60.00
Table 5 20.00 100.00
Chair 5 15.00 75.00
Total 296.00
CAPEX is the cost that is recorded once which is asset cost.
Table 5.1.1: CAPEX
Cost of Goods Sold (COGS)
COGS is the cost needed to produce the products to be sold which is raw material cost.
Raw Material Quantity Cost per unit (RM) Cost (RM)
Original phone case 100 2.00 200.00
Creamy gel 1kg 65.00 65.00
Button 5 packs 2.00 10.00
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Sticker 10 packs 1.00 10.00
Dry plant 5 packs 4.50 22.50
Resin 1kg 36.00 36.00
Cartoon sequins 5 packs 5.00 25.00
Small decorations 3 packs 2.50 7.50
Pearl beads 2 packs 2.00 4.00
Glue stick 1 box 25.90 25.90
Packaging plastic 5 packs 3.50 17.50
Packaging box 10 packs 9.50 95.00
Total 518.40
*1unit = 1kg/1pack/1box
Table 5.1.2: COGS
Operation Expenditure (OPEX)
OPEX is the cost needed to operate the business and needs to be recorded repeatedly which
includes building rental, vehicle rental and salary. It is the cost needed to be paid every month.
Building rental (office) RM450
Salary RM1000
Electricity and Water bill RM350
Total RM1800
Table 5.1.3: OPEX
5.2 CASH FLOW
Cash Inflow Cost

Capital RM1500.00
Total RM1500.00
Cash Outflow
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Registration cost RM100.00
Salary RM1000
Asset RM296.00
Raw materials RM518.40
TOTAL RM1914.40
Table 5.1.1: Cash flow
5.3 BREAKEVEN POINT
Consist of fixed cost, unit cost and variable cost per unit.
Expenses Quantity Unit Total Variable Fixed Cash Non
cost cost expenses Expenses Expenses –cash
(RM) (RM) Expenses
Original 100 2.00 200.00 ✔ _ ✔ _
phone case
Creamy gel 1kg 65.00 65.00 ✔ _ ✔ _
Button 5 packs 2.00 10.00 ✔ _ ✔ _
Sticker 10 packs 1.00 10.00 ✔ _ ✔ _
Dry plant 5 packs 4.50 22.50 ✔ _ ✔ _
Resin 1kg 36.00 36.00 ✔ _ ✔ _
Cartoon 5 packs 5.00 25.00 ✔ _ ✔ _
sequins
Small 3 packs 2.50 7.50 ✔ _ ✔ _
decorations
Pearl beads 2 packs 2.00 4.00 ✔ _ ✔ _
Glue stick 1 box 25.90 25.90 ✔ _ ✔ _
Packaging 5 packs 3.50 17.50 ✔ _ ✔ _
plastic
Packaging 10 packs 9.50 95.00 ✔ _ ✔ _
box
Table 5.3.1: Raw materials expenses
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Fixed Cost
Fixed cost: the fixed expenses in order to implement the business

Eg: amount of rental for the office, salary of contributions
The estimated fixed cost for our business: salary of all contributors (RM1000) + office rental
(monthly) (RM450) + Electricity and water bill (RM350) = RM1800
Unit Cost
Unit cost RM
Creamy gel type phone case 23.00
Button type phone case 12.00
Dry plant type phone case 16.00

Sticker type phone case 10.00
Variable Cost Per Unit
The raw material used in unit (eg. Creamy gel type phone case):
Original phone case + Creamy gel + Cartoon sequins + Small decoration + Pearl beads
Let’s estimated that for unit of creamy gel phone case we will use:
RM1.29 original phone case + RM0.78 creamy gel + RM0.42 cartoon sequins + RM0.14 small
decoration + RM0.10 pearl beads = RM2.73
Formula of Breakeven Point
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*We have to sell approx. 89 unit of creamy gel type phone case in a month in order to get return
on sale
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6.0 CONCLUSION
In a nutshell, inACE is a company that sells customized phone cases. Our company was founded
through our involvement in the Basics in Entrepreneurship (MGM3180) course, under the
supervision of Sir Ganesh A/L G.Thanasegaran. The business plan includes logo, vision and
mission, business organizational structure, financial aspects, and business operation of inACE.
We have come to understand that many aspects need to be considered before immersing
ourselves in the competitive world of business. Besides considering what products should be
provided, we have come to an understanding that we also need to cater to the needs and desires
of the current customer profile. For example, our group conducted a marketing analysis to better
understand our customers' demands and characteristics. Questionnaire Analysis, Market
Segmentation, and Market Trend are all important in planning marketing strategies, increasing
sales, and focusing on potential customers.
When we know who our customers are and what their needs are, we can properly plan how the
business should be created and implemented. The proper company identification, such as the
company's name and logo, as well as the company’s vision and mission, and money flow, must
all be properly prepared in order to achieve our goals with the greatest efficiency.
It's a valuable experience for inACE in terms of running a business. Carrying on our business
might be tiring, but the lessons learned are priceless. We are continually pushing ourselves to be
in the best possible situation. We also learn a lot about running a business. During the sales
process, we hold meetings to discuss our business and collaborate with one another in order to
succeed. Despite the fact that we encountered certain difficulties during this activity, we were
able to overcome them by working together. As a result, inACE has achieved our vision and
mission.
Overall, the journey from the beginning of this business to the completion of this report has been
a fruitful and rewarding one for all of us. Taking MGM 3180 Basics Entrepreneurship has been
quite beneficial to us. Now we have a better notion and a glimpse of how the business world and
entrepreneurs work.
48
7.0 REFERENCES
1. HB International. (2021, April 8). Is it Possible? High Quality Products at an Affordable
Price? Retrieved December 29, 2021, from
https://hbint.biz/is-it-possible-high-quality-products-at-an-affordable-price/
2. Business Plan Tips: How to Write a Winning Executive Summary. (2020, May 20). The
Balance Small Business. Retrieved from
https://www.thebalancesmb.com/executive-summary-of-the-business-plan-2948012
3. Kelly Stanton(June 2021),Quality Assurance vs. Quality Control: What's the Difference?,
Retrieved from
https://www.qualio.com/blog/quality-assurance-vs-quality-control
4. Segal, T., & Courage, A. (2020, September 22). Operational Risk. Investopedia.
Retrieved December 10, 2020, from
https://www.investopedia.com/terms/o/operational_risk.asp
5. Kimberlee Leonard.(2019, March 6). How to Conclude a Business Plan. Chron.

Retrieved from https://smallbusiness.chron.com/conclude-business-plan-41381.html
6. Bryan J. Switalski. (2020, Jan 3). 6 Surprising Advantages of TikTok Marketing for Your
Brand. Retrieved from
https://bryanswitalski.medium.com/6-surprising-advantages-of-tiktok-marketing-for-your
-brand-e777d5771f68
7. Alexandra Twin. (2021, July 21). The 4Ps. Investopedia. Retrieved December 12, 2021
from
https://www.investopedia.com/terms/f/four-ps.asp
8. Will Kenton (March 29, 2021), Senior editorial roles at Investopedia and Kapitall Wire,
MA in Economics from The New School for Social Research, Doctor of Philosophy in
English literature from NYU, Investopedia, “Strength, Weakness, Opportunities, and
Threats (SWOT) analysis” . Retrieved December 30, 2021from
https://www.investopedia.com/terms/s/swot.asp
49
8.0 APPENDICES
8.1 Logo design proposal and final logo design
Design 1 Design 2 Final Design
8.2 Promotion and Posting examples for Marketing
Figure 7.1.1 Teaser stories posting on Facebook and Instagram
50
Figure 7.1.2 Teaser posting on various social media platforms
Figure 7.1.3 Hard sell posting on various social media platforms
51
Figure 7.1.4 Videos posting on various social media platforms
Figure 7.1.5 Soft sell posting on various social media platforms
52
Figure 7.1.6 Festival promotion posters
Figure 7.1.7 Live and Influencer for promotion
8.3 Social media platforms and channels used for Marketing
Figure 7.2.1 Profile of Facebook, Instagram, TikTok, WhatsApp and Telegram of inACE
53
Figure 7.2.2 Profile of Shopee and Lazada of inACE
Figure 7.2.3 Website and Linktree of inACE
54
8.4 Products of inACE
Figure 7.3.1 Example of phone cases sell by inACE (Creamy gel type, Dry plant type, Normal button type,
Special button type and Sticker type)
8.5 Question in survey form
55
56
8.6 Business Model Canvas (BMC)
57

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MGM3180-11: BASIC ENTREPRENEURSHIP

InACE BUSINESS PLAN

EXECUTIVE SUMMARY 1-2

1.O COMPANY INTRODUCTION

1.1 VISION, MISSION, LOGO 3

1.2 COMPANY BACKGROUND 3-4

1.3 OWNERS’ BACKGROUND, COMPANY OWNERSHIP, LOCATION 5-16

1.4 PRODUCT DESCRIPTION 17

2.0 BUSINESS ORGANIZATION STRUCTURE

2.1 ORGANIZATIONAL CHART 18

2.2 LIST OF RESPONSIBILITIES AND DUTIES 19-22

2.3 REMUNERATION BUDGET 22-23

2.4 ADMINISTRATIVE BUDGET 23

3.0 MARKETING PLAN

3.1 MARKETING GOALS 24

3.2 MARKETING ANALYSIS 25-28

3.3 TARGET MARKET PROFILE 28-30

3.4 SWOT ANALYSIS 30

3.5 MARKETING STRATEGIES (4P) 31-32

4.0 OPERATION PLAN

4.1 PRODUCTION CONCEPT 33

4.2 RESEARCH AND DEVELOPMENT (R&D) 33-34

4.4 PRODUCTION UNIT PLAN AND GENERAL OPERATION 36-37

4.5 MATERIALS, EQUIPMENTS NEEDS AND SUPPLIERS 37-40

4.6 QUALITY CONTROL AND QUALITY ASSURANCE 40

4.7 OPERATION MAINTENANCE 40-41

4.8 RISK MANAGEMENT 41-42

5.0 FINANCIAL PLAN

5.1 FINANCIAL STATEMENTS 43-44

5.2 CASH FLOW 44-45

5.3 BREAKEVEN POINT 45-47

8.2 PROMOTION AND POSTING EXAMPLES FOR MARKETING 50-53

8.3 SOCIAL MEDIA PLATFORMS AND CHANNELS USED FOR 53-54

8.4 PRODUCT FOR INACE 54

8.5 QUESTION IN SURVEY FORM 55-56

8.5 BUSINESS MODEL CANVAS (BMC) 57

1.1 Mission, Vision and Logo

Figure 1.1.1 Logo of inACE

1.2 Company Background

Name of Business inACE

Business Address Jalan Universiti 1 Serdang, 43400 Seri

Telephone Number 018-2421277

Main Activities inACE company is selling four types of phone

Date of Commencement 1/11/2021

Table 1.3.1a Profile of Fang Yi Min

Position Chief Executive Officer (CEO)

Date of Birth 16/06/2002

Handphone No. 010-6603177

Marital Status Single

Educational Bachelor of Food Science and Technology with Honours

Skills ● Leadership experience

Joey Wong Hui Yi

Position Marketing Manager

Date of Birth 14/03/2002

Handphone No. 017-6631816

Marital Status Single

Educational Bachelor of Food Science and Technology with Honours