Professional Documents
Culture Documents
Business Idea.
Business Idea.
Students:
Hamed Khalifa Al Shaafari 1910535
Isehaq qasim Aldhahri 190174
Osama Ismail AlBaluchi 1910332
1. DESCRIPTION OF THE BUSINESS IDEA.
iMart is driven by advanced technology, including a smart shopping app and an integrated
system powered by artificial intelligence. Students may use the application to make
personalised shopping lists, get real-time offers, and easily navigate the store. In addition,
the AI system records purchasing patterns, allowing the store to forecast demand while
maintaining ideal inventory levels. It doesn't only facilitates the shopping experience for
students, but also guarantees that the store is well-stocked with everything they want.
iMart has a smart checkout technology to improve the entire shopping experience. Students
may complete their shopping quickly and easily using a cashless and contactless payment
method, minimising waiting periods and increasing efficiency. The store also has self-
checkout stands, allowing students to have control over their purchasing experience.
The ideal location of iMart on the University of Buraimi campus permits student accessibility,
providing them with a one-stop shop to purchase their everyday necessities. iMart alters the
campus shopping environment by integrating technology, sustainability, and student-centric
aspects to provide a modern and efficient solutions to satisfy the particular needs of
university life. This innovative store not only meets students' basic needs, but it also
promotes an understanding of community and environmental responsibility.
Customer Profile
iMart serves employees and students or even guests from the University of Buraimi of all
ages and genders, our customers tend to most likely have the following traits
1-Students and employees who are technologically savvy:
Students and employees who rely largely on smartphones and other electronic devices.
Those who are constantly on the lookout for applications and services that will make their
time at university more easy and efficient. The iMart smart shopping app fits their lifestyle
well, allowing users to build shopping lists, receive personalized deals, and easily navigate
the supermarket.
2-Students with a Busy Schedule:
Because students have a hectic schedule with courses, research assignments, and
extracurricular activities, they value time and seek a purchasing experience that is quick and
easy. iMart's AI-powered system predicts customer preferences and optimizes inventory to
guarantee that the items they want are always in stock, saving them significant time.
3-Environmentally Conscious Consumers:
Someone who is concerned about the environment and actively seeks out eco-friendly items
and practices. With features like reusable packaging, locally produced items, and a recycling
station, iMart's dedication to sustainability aligns with their principles. They would
appreciate the supermarket's attempts to mitigate its environmental effects and regard it as
a reinforcement of their environmental commitment.
4-People with a Healthy Lifestyle:
For some students and employees, having a healthy and balanced lifestyle is vital. iMart's
focus on providing a selected range of nutritious and cost-effective meal alternatives
resonates with their healthy choices. The variety of fresh, organic, and locally sourced items
within the store makes it a go-to location for their everyday nutritional needs.
5-Financially Responsible:
Students tend to be budget-conscious. Smart promos and discounts given via the app by
iMart appeal to their cost-conscious mentality. The cashless and contactless payment
alternatives, in addition to self-checkout kiosks, offer customers a seamless and speedy
shopping experience, enabling them to remain within their budget while still enjoying good
quality products.
6-Community-Oriented:
Because they are away from home, students and foreign employees enjoy a sense of
community on campus. The strategic position of iMart on the university campus serves as a
vital centre for students. Students enjoy the supermarket's support for local vendors and
sustainability practices, which builds a sense of community.
Our smart app contains personalized shopping lists, real-time specials, and store navigation,
helping customers save time and effort, identify the greatest prices, and go through the
store effectively, improving the entire shopping experience for busy students and
employees.
Offering reusable packaging, locally produced items, and a recycling station that appeals to
environmentally conscious consumers, helping promote environmental responsibility and
establishing a mindful shopping atmosphere.
Having cashless and contactless payment alternatives, and self-checkout kiosks that
accelerate the purchasing process, eliminate wait times, and create a seamless, effortless
purchase experience for buyers that appreciate efficiency.
Providing fresh, organic, and locally produced items that are appealing to healthy
consumers, delivering easy and nutritious meal options that correspond with students'
lifestyle and dietary requirements.
Having an AI system that records customer needs and gives tailored promotions and
suggestions, increasing customer fulfilment and loyalty by giving a personalized buying
experience.
6-Strategic University location:
Accessible placement inside the University of Buraimi campus that enables easy accessibility
for busy students, acting as a focal centre for their everyday requirements as well as creating
an atmosphere of community on campus.
Providing smart offers and discounts via the app that attracts financially mindful customers,
enabling them to keep within budget whilst enjoying great products.
Collaboration with local businesses and supporting the local economy establish a community
sense and contribute to the university's local ecology, producing a socially responsible
shopping experience for customers.
Incorporation of technology for rapid and effective operations that save time for busy
students, making the shopping experience more pleasant and consistent with the rapid
lifestyle of students and employees.
By emphasizing these aspects and highlighting the associated benefits, iMart can effectively
separate itself from competitors and respond to the particular needs and tastes of its
targeted customers.
Description: The University of Buraimi hostel has an established grocery store that caters to
the everyday requirements of students living in the hostel. These may sell everything from
snacks to basic goods. Their competitive advantage is closeness to the university and hostel,
however, they may be constrained in terms of technology integration and sustainability
practices.
Pricing: Prices can differ, with some things potentially being priced more because of
convenience.
Description: There is a small store and fewer vending machines distributed across the
University of Buraimi campus which provide quick snacks and beverages to students. Their
competitive advantage is closeness to campus, but they may be restricted in terms of
technology integration, sustainability practices, and product alternatives.
Pricing: Prices might differ, with some things potentially being priced higher.
Description: Competitors may include nearby grocery businesses. These businesses often
sell a wider selection of things, such as fresh vegetables and home essentials. Their
competitive advantage is accessibility for people living nearby, but they may lack the
specialized services and technology elements that iMart delivers.
Selling points: More product selection, but lacks the ease and technological aspects of
iMart.
Description: Online grocery delivery services have grown in popularity, particularly in urban
regions. People may use these platforms to buy goods online and have them delivered
straight to their homes. Their competitive advantage is speed and cost savings, but they may
lack the rapid access to items that a physical shop like iMart provides.
Pricing: Prices might include delivery costs; some things may be priced either higher or
cheaper than in real stores.
iMart's pricing strategy should take into account a number of aspects, such as the
marketplace, the value offered to customers, and the smart supermarket's overall position.
The following are important factors we considered when developing our successful pricing
strategy:
1-Value-Based Pricing:
iMart will emphasize the unique value it gives to customers via smart technology,
sustainable practices, and a selected variety of items. Pricing might reflect the improved
shopping experience and convenience provided.
2-Competitive Pricing:
While iMart provides distinctive services, it is essential to stay competitive with existing
campus supermarkets, local food stores, and other prospective rivals. Analyzing the prices
paid by competitors helps guarantee that iMart's pricing falls within the appropriate range.
Given that its main customer base is university students, iMart will maintain inexpensive
prices. Offering promos, discounts, and budget-friendly alternatives for essentials via the app
will attract the intended demographic's financial concerns.
iMart will take into account operating costs such as technology maintenance, environmental
practices, and employee wages. Pricing should cover those costs while staying competitive in
the marketplace.
5. WHAT PRICE DO THEY CHARGE?
Category Product Price
Groceries Organic Eggs (Dozen) 1.500 OMR
2. Online Research: To learn more about possible rivals, use online resources including
search engines, business directories, and industry reports. Press releases, news
articles, and company websites can give information about their products, marketing
plans, and positioning in the market.
3. Industry Reports and Publications: Look through publications and industry reports
about retail technology, smart supermarkets, and college shopping. These resources
frequently offer lists of important industry participants, market analysis, and trends.
4. Networking:
Connect with industry professionals, suppliers, and other stakeholders who may have
insights into the competitive landscape. Networking can provide valuable firsthand
information and help us understand the dynamics of the market.
iMart sets itself apart by providing a genuinely smart shopping experience. The
incorporation of technologies like automated checkout, intelligent shopping carts, and
personalized recommendations differentiates iMart from traditional supermarkets, offering
customers an efficient and futuristic shopping journey.
2-Cutting-Edge Technology:
iMart harnesses cutting-edge technology, including the Internet of Things (IoT), RFID, and
machine learning algorithms. These technologies enhance various aspects of the shopping
process, from navigation assistance to personalized promotions, establishing a unique and
technologically advanced retail environment.
iMart employs a dynamic pricing strategy, ensuring customers can benefit from strategic
promotions and discounts. This approach considers factors such as competitor pricing,
seasonal trends, and customer preferences, adding value to the campus community.
iMart extends beyond transactions with its membership and loyalty programs, providing
additional discounts, exclusive offers, and rewards for frequent shoppers. These programs
foster a sense of loyalty and community engagement.
6-Environmental Sustainability:
iMart places a high priority on transparency in its pricing communication. Real-time pricing
information is readily available through the mobile app and in-store displays, empowering
customers to make informed decisions and contributing to a trusting and open relationship.
2-Emphasis on Sustainability:
As smart supermarkets collect and utilize customer data for personalized experiences, there
is a heightened awareness of data security and privacy. Ensuring robust security measures
and transparent data practices will be crucial for gaining and maintaining customer trust.
5-Omnichannel Retailing:
The focus on health and wellness is growing, and supermarkets may incorporate features
that cater to this trend. This could include offering healthier food options, providing
nutritional information, or even integrating health-related technologies within the store.
iMart has the ability to expand its presence to more campuses as colleges expand to
accommodate a growing number of students. This scalability allows for a greater reach
among the student group.
2-Technology Adoption:
With an increasing reliance on technology for daily life, especially among the younger age,
iMart is ideally positioned to capitalize on this trend. The smart shopping app, AI-powered
inventory management, and other technological elements are in sync with the desires of
tech-savvy customers.
3-Sustainability Trend:
The increased emphasis on health and wellbeing allows iMart to enhance its curated variety
of healthy and organic items. Meeting the need for nutritious food alternatives establishes
the smart supermarket as a favoured option among health-conscious shoppers.
6-Community participation:
iMart's focus on community participation, support for local suppliers, and strategic campus
sites all contribute considerably to its potential for expansion. Creating a sense of belonging
and loyalty among students can contribute to long-term success.
Forming alliances with local suppliers, colleges, and technology companies opens doors to
new opportunities for growth. Collaborations that improve product offers, increase the
variety of services or allow opportunities in new markets help iMart's trajectory of growth
significantly.
The ability of iMart to react to changing market trends and continually develop its offers will
be critical for long-term growth. Regular upgrades to technology, product offers, and
environmental practices will keep the smart supermarket competitive in a volatile market.
Positive customer experiences and a strong brand identity may lead to natural expansion by
word-of-mouth marketing and brand loyalty. Customers who are pleased with iMart are
more likely to promote it to their colleagues, resulting in additional growth.
Once well-established on university campuses, iMart may look at the potential to expand
outside educational institutions. Strategic sites in urban and suburban regions might be used
to reach a larger client base.
1-Digital Presence:
b. Mobile App: Promote the iMart mobile app, highlighting its convenience, personalized
features, and exclusive discounts for app users.
2-Social Media Marketing:
a. Establish a robust presence on popular social media platforms like Instagram, Facebook,
Twitter, and Snapchat.
b. Share engaging content, including promotions, smart shopping tips, and behind-the-
scenes glimpses of the iMart experience.
c. Run targeted ads to reach the campus community, focusing on features that resonate with
the tech-savvy demographic.
3-Influencer Collaborations:
a. Partner with influential campus figures, student leaders, or social media influencers to
build buzz and credibility.
b. Encourage influencers to share their experiences with iMart, showcasing the convenience
and benefits of smart shopping.
5-Email Campaigns:
6-Traditional Advertising:
a. Utilize traditional advertising methods like posters, banners, and flyers strategically placed
around the campus.
7-Location-Based Marketing:
b. Implement a referral program offering incentives for existing customers who refer new
users to iMart.
a. Collaborate with student organizations, clubs, and societies for joint promotions or
sponsorship opportunities.
a. Use interactive displays within the store to showcase the smart features and benefits of
iMart.
b. Employ clear and attractive signage outside the store to attract foot traffic.
a. Actively engage with the campus community through online forums, discussion groups,
and social media.
12-Launch Promotions:
Offer special launch promotions and discounts to incentivize initial visits and create a sense
of urgency.
At first, we will need capital from a SANAD fund to start and establish the smart
supermarket business. We will take from SANAD fund an amount of 5000 OMR and 9000
OMR from our own money that we collected, our capital will be the total of 14000 OMR.
Here are some other resources we are going to need
Total: 13920