Term Paper

Word Count: 2480

Submitted by

Syeda Israt Ferdous- 20205016

Fatiha Haider- 23304030

Simran Simin- 23304179

Maisha Hasan-23304029

Submitted to

Tanika Akther (TAK)

Senior Lecturer, BRACU Business School

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Table of Contents
Introduction......................................................................................................................................3

Background......................................................................................................................................4

Business Environment: Ethical Practices and Corporate Social Responsibility at Rsynthetic.......5

Ethical Practices...........................................................................................................................5

Corporate Social Responsibility (CSR).......................................................................................5

The Human Dynamics at Rsynthetic: A Journey of Growth and Teamwork..................................7

Management and Organization Structure: Fostering Innovation and Collaboration...................7

Level of Management..................................................................................................................7

Motivation and Leadership Style.................................................................................................8

Training Programs and Skill Development.................................................................................8

Crafting Success: The Art of Marketing and E-Commerce Strategies at Rsynthetic....................10

Product Mix and Description.....................................................................................................10

Segmentation, Targeting, and Positioning (STP) Strategy........................................................10

Promotional Activities and Pricing............................................................................................11

E-Commerce Strategies.............................................................................................................11

Conclusion.....................................................................................................................................13

References......................................................................................................................................14

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Introduction
In the ever-changing business world, some companies show how creativity, innovation, and
business can work well together. One amazing business like this is Resinfesta, which is based in
Dhaka and specialises in making handcrafted resin goods, especially beautiful pendants.
Rsynthetic is more than just a business. It is a celebration of creative expression, cultural history,
and the power of working together. This report goes on a journey to show the many sides of
Resinfesta's business story. It looks at its beginnings, creative processes, organisational
dynamics, ethical concerns, marketing strategies, and e-commerce efforts. This report looks at
the intricate lines that make up Rsynthetic's fabric to show how art and business come together
there. Resin is used to make wearable dreams that are popular with customers all over the world.

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Background
Resinfesta is an online jewellery company that exemplifies the amalgamation of creativity and
workmanship in the city of Dhaka, Bangladesh. This company is dedicated to the production of
artisanal resin items, with a specific emphasis on creating intricate pendants, bracelets and finger
rings. Every product embodies a fusion of aesthetic design and expert craftsmanship and this
ctraft art blends dried flower, preserved baby hair, preserved breast milk and resin into a bezel
you can used to hold even more memories. Resinfesta demonstrates a steadfast dedication to
achieving high standards by effectively managing orders, intending to dispatch them within a
timeframe of five business days. Nevertheless, it is crucial to acknowledge that the ultimate dates
of delivery are contingent upon the operational dynamics of third-party courier services. In
addition to its function as a commercial entity, Resinfesta encapsulates a commemoration of
artistic ingenuity and cultural reverence. The pendants manufactured by the company possess the
ability to surpass their utilitarian function as mere accessories, enabling individuals to embody
and preserve a fragment of Dhaka's aesthetic essence. The global appeal of these unique resin
masterpieces is evident in the diverse range of patrons they attract from all parts of the world.
This research study aims to examine the narrative of Rsynthetic, exploring its inception, artistic
methodology, operational structure, and its wider implications at both local and global scales.
This study seeks to elucidate the process by which Resinfesta converts resin into conduits for the
expression of imagination, dreams, and wearable art.

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Business Environment: Ethical Practices and Corporate Social
Responsibility at Resinfesta
The ideals of ethical behaviour and corporate social responsibility (CSR) have a significant
position within the ever-changing realm of commerce. The values of responsible business
practises are deeply integrated into the activities of Resinfesta, a venture situated in Dhaka that
specialises in handcrafted resin items.

Ethical Practices
Resinfesta's ethical considerations are primarily centred around a steadfast commitment to the
principles of sustainability and craftsmanship. Through meticulous material selection and the
utilisation of artisanal methods, the enterprise endeavours to guarantee the durability of its
merchandise, placing significant emphasis on divergence from the prevalent throwaway
consumer culture (Buller & McEvoy, 2016). This method appeals to environmentally concerned
consumers who are in search of products that possess long-lasting value. Furthermore, the honest
communication of Rsynthetic concerning delivery deadlines highlights its commitment to ethical
business practices. The firm effectively manages consumer expectations and fosters a transparent
and trustworthy relationship by acknowledging the presence of third-party couriers (Chang &
Chin, 2018).

Corporate Social Responsibility (CSR)

Resinfesta's corporate social responsibility (CSR) programmes comprise a dual focus on cultural
preservation and consumer happiness. Through the empowerment of local artists, the business
actively helps the preservation of Dhaka's rich artistic legacy (Roh & Kim, 2016). Resinfesta
effectively contributes to the economic prosperity of local artists and concurrently enhances the
global recognition of the region's cultural heritage with its distinctive resin products. In addition,
the company's dedication to timely delivery is following its social duty. Resinfesta's commitment
to dispatching orders within a five-day timeframe exemplifies its dedication to honouring
customers' time and expectations, hence playing a crucial role in fostering enduring customer
relationships (Mehta & Chugan, 2015).

There are possible opportunities for the company to enhance its societal effect through
partnerships with local non-governmental organisations (NGOs) or educational institutions.

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Efforts centred on providing education and skill development opportunities to individuals aiming
to become artisans, fostering a sense of environmental consciousness, or offering assistance to
marginalised groups have the potential to enhance the corporate social responsibility (CSR)
initiatives of the firm (Deshwal, 2015).

Resinfesta's moral business practises and commitment to corporate social responsibility show
how business should be done with care. By putting sustainability, openness, and the protection of
cultural property at the top of its list of priorities, the business not only does well in its niche but
also makes a big difference in Dhaka's social and economic life (Gigauri, 2020). As the business
grows, taking part in targeted CSR projects can increase its good effects and pave the way for a
more socially responsible business future.

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The Human Dynamics at Rsynthetic: A Journey of Growth and
Teamwork
The progression of Resinfesta, starting with its founding trio and expanding to a team of 10,
serves as a testament to both the development of a successful enterprise and the cultivation of a
tightly-knit community together by their shared commitment and innovative spirit.

Management and Organization Structure: Fostering Innovation and Collaboration

The management strategy and organisational structure of Resinfesta are integral to the efficient
functioning of the company. The business operates with an agile and flat organisational structure,
fostering an environment characterised by the unrestricted flow of ideas and prompt decision-
making (Duggan et al., 2020). This organisational framework fosters a culture of creativity and
collaboration among team members, facilitating direct engagement between artisans and
management to enable agile decision-making.

Encouraging Idea Flow and Rapid Decision-Making

The flexible organisational structure implemented at Resinfesta facilitates the smooth exchange
of ideas and enables prompt decision-making. In the absence of strict hierarchical structures,
team members are granted the authority to freely express their perspectives without any
reluctance. The rapid evaluation, improvement, and implementation of ideas enable the
organisation to maintain agility in response to changing market dynamics and client demands
(Baines et al., 2017).

Direct Interactions for Enhanced Responsiveness

The organisational structure of Resinfesta promotes direct interactions between craftspeople and
management, hence cultivating a tightly-knit team dynamic. This direct mode of communication
enables craftspeople to actively participate by providing comments, expressing problems, and
introducing novel thoughts without the need for intermediaries (Chaffey & Smith, 2022). These
interactions facilitate timely responses by businesses to fluctuations in market needs, allowing
for the alignment of product offers with the constantly evolving preferences of customers.

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Level of Management
Due to the tiny size of the workforce, Resinfesta only has one level of management. This
methodical strategy encourages candid discussion and shared accountability. A flat organisation
structure helps everyone to feel like they're contributing to the company's success on their terms,
which in turn increases loyalty and morale.

Motivation and Leadership Style

Leadership at Rsynthetic is exemplified by participative leadership, which recognises and
rewards the individual contributions of each member of the team. Their input is highly valued,
and this fosters an atmosphere of cooperation and common goal-setting (Pride & Ferrell, 2019).
A strong sense of pride in the company's success, growth, and reputation is fostered by this
method since every employee knows the importance of his or her contribution.

Strengthening Collaboration Between Leadership and Artistry

Resinfesta uses a style of leadership called "participatory leadership," which means that both the
leaders and the artist’s work together. Aside from their skill, artisans play a key role in setting
the direction of the business, which builds a strong sense of connection and commitment
(Steinhoff et al., 2019). This mutually beneficial relationship makes sure that the business grows
with a shared goal, and the artisans are proud of how important they are to the story of the brand.

Training Programs and Skill Development

As the team grew from the original three members to the current ten, training programmes were
a key part of keeping the quality of the work and the products uniform. There are special training
classes for artisans to help them improve their skills and techniques for working with resin. This
spending in training shows that Resinfesta wants its team members to always get better at what
they do (Brennan et al., 2020).

Number of Employees

From its small start to its current size of ten people, Resinfrsta's team shows how the business's
demand and creative scope have grown. This increase shows not only that the business is
growing, but also that it is committed to giving local artisans jobs and helping them improve
their skills, which is good for the local community (Bala & Verma, 2018).

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Culture of Collaboration and Creativity

Resinfesta's success comes from the way its employees work together and think of new ideas.
Each person in the team brings their special skills to the table. This creates a powerful synergy
that moves the business forward. The core of Resinfesta's handcrafted philosophy is this kind of
harmonious collaboration, where people use their skills to make art.

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Crafting Success: The Art of Marketing and E-Commerce Strategies at
Resinfrsta
The story of Resinfesta is not just about how well-made its resin beads are, but also about how
well it knows how to use marketing and e-commerce. The combination of these elements has put
the business at the top of the market for handmade art, attracting a wide range of customers with
its unique products and interesting online presence.

Product Mix and Description

The resin pendants offered by Rsynthetic exemplify a high level of artistic craftsmanship and
individualization. The handcrafted pendants, meticulously moulded from resin, exemplify a
harmonious fusion of artistic ingenuity and skilled craftsmanship (Bala & Verma, 2018). By
offering the capability to customise designs based on the specific preferences of each customer,
every product becomes a wearable work of art that effectively exhibits the user's distinct style
and personality.

Figure: Resin Products

Segmentation, Targeting, and Positioning (STP) Strategy

The STP strategy implemented by Rsynthetic is carefully crafted to target a certain group of
consumers who possess a sophisticated taste for artistic expression and customised accessories.
Through the creation of customised products tailored to individual design preferences, the
enterprise effectively caters to the demand for unique embellishments while also appealing to
individuals who wish to express their particular identity through their accessories (Brennan et al.,

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2020). This technique establishes Resinfesta as a brand that is beyond conventional boundaries,
appealing to individuals who value artistic expression on a wearable medium.

Promotional Activities and Pricing

Most of Resinfesta’s marketing is done online, with Facebook Marketplace being a key outlet.
On this platform, captivating pictures, interesting comments, and reading customer reviews come
together to tell a story that shows what the resin pendants are all about. The combination of the
way something looks and what other people say about it gives a sense of trustworthiness and
turns potential buyers into confident customers (Steinhoff et al., 2019).

In terms of pricing, Resinfesta strikes a careful balance between the artistic value of the products
and their ability to be bought by a wide range of people (Pride & Ferrell, 2019). The price range
of 450 to 500 taka shows how much work goes into making these pieces by hand, but also makes
sure that fans of unique art who value exclusivity can still buy them.

E-Commerce Strategies
The e-commerce strategy employed by Resinfesta demonstrates a very effective approach that
prioritises convenience and meaningful interaction, resulting in an engaging user experience
where each click leads to a compelling journey. This strategy functions within the dynamic
framework of the Facebook Marketplace, a platform that enhances the digital visibility of the
business and enables direct interaction with its target audience.

 Leveraging Digital Visibility: The Facebook Marketplace is the key to the growth of
Rsynthetic's online business. This lively online marketplace is where the business shows
off its beautiful plastic pendants. High-resolution pictures show all of the intricate
features of each pendant, so potential buyers can get into the art (Chaffey & Smith,
2022). These images are more than just pixels, so buyers can see the quality of the work
before they even buy it.
 Storytelling Through Descriptions: In addition to the pictures, there are detailed
product details that tell the story of each pendant. These accounts go deeper than the
surface and talk about the ideas, techniques, and materials that give each piece life.

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 Through these stories, customers are brought into the world of the artisan, creating a link
between the person who made the item and the person who wears it (Baines et al., 2017).
 Responsive Customer Service: Resinfesta is dedicated to making online shopping a
good experience, and that includes providing good customer service. When people ask
questions, they get quick and helpful answers that clear up any worries and build a sense
of trust. This interaction turns online transactions into real relationships and makes
customers feel like they are valued and heard.
 Transparency in Delivery: Transparency is the key to building trust in e-commerce.
Resinfesta knows this and lets customers know about supply times. This helps users
understand how their wearable art got to where it is now and bridges the gap between
what they thought would happen and what happened. By doing this, the business gives
customers a sense that they can trust it, which makes their experience better.
 Seamless Transactions: Without smooth transactions, an e-commerce plan can't be a
success. By adding safe online payment methods, Resinfesta makes sure that the
transaction process runs as smoothly as the resin pendants it makes (Duggan et al., 2020).
This integration adds an extra layer of comfort, making it easy and safe for customers to
finish their purchases.

The trajectory of Resinfesta's endeavours showcases a commendable fusion of artistic innovation

and astute marketing acumen. Through meticulous curation of a product assortment that
encapsulates uniqueness and skilful craftsmanship, coupled with the implementation of a
personalised segmentation, targeting, and positioning (STP) approach, smart promotional
activities, and adept navigation of the e-commerce landscape, the enterprise persistently
surpasses limitations, enabling a worldwide clientele to readily access wearable art.

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Conclusion
Resinfesta serves as a noteworthy exemplar within the domain where artistic innovation and
economic activities intersect, showcasing its ability to surpass conventional limitations. The
evolution of Resinfesta, starting with a small group of innovative craftsmen and now comprising
a team of 10 individuals, exemplifies not just substantial expansion but also a steadfast
dedication to the principles of skilful artistry and communal engagement. The company's
commitment to ethical considerations and corporate social responsibility, in conjunction with its
strategic marketing and e-commerce tactics, exemplifies a comprehensive strategy that is beyond
mere financial gains. The resin pendants crafted by these artisans embody the artistic essence of
Dhaka, which is then disseminated to patrons worldwide. The narrative of Resinfesta serves as a
testament to the capacity of integrating human ingenuity with shrewd economic acumen,
manifesting aspirations not alone through wearable artistic expressions but also through the
significant influence it exerts on both local and global scales. In conclusion, the case of
Resinfesta provides a compelling example, highlighting the capacity of entrepreneurial pursuits
to translate creative ideas into tangible outcomes.

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