I.

EXECUTIVE SUMMARY
1. The concept
Hive-five is a teamwork enhancement board game, aimed at the new niche
market in Hanoi. Hive-five offers educational, entertaining board games of the
founding team of six final-year students from NEU. Hive-five will provide a more
exciting vibe to the academic environment, boosting learning motivation and
efficiency through the board game community in universities.

2. Market advantage
Hive-five board games create a fun way of educating yourself without getting
distracted by your smartphone.
Gen-Z surrounded and distracted by technology are most beneficial and our
primary customers, but anyone who used to play board games can also enjoy
having one. The research shows that the use of an educational board game
resulted in significantly improved learning, compared with the use of guided
study (Kelly Cristina Gavião Luchi et al., 2019). In while, there are no companies
that focus on developing educational board games for students in Vietnam,
thus we start with teamwork which is a basic and vital soft skill in every
industry. Creating a strong game-based learning community would be a huge
advantage for us to maintain long-term customers.

3. Marketing
71% of respondents say they hear about new games through word-of-mouth.
The venture will adopt a concentrated marketing strategy. The company’s
promotion mix will comprise a mix of advertising, sales promotion, public
relations, and personal selling. Much of the promotion mix will center around
dual-language social media.

4. Venture team
The six founding members of the management team have almost four years of
studying business administration and one of us has experience in working in a
board game environment.

5. Capital requirement
Hive-five is seeking startup capital of 100 million VNĐ to establish its
manufacture outsource, marketing, and workshop activities. The venture can be
up and running within six months to a year.

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 II. BUSINESS DESCRIPTION
1. Mission Statement
Our mission is what drives us to do everything possible to educate students in a much
more exciting way, by providing breakthrough board games innovation, making our
board games both fun and education support, especially in improving teamwork skills,
by building passionate and youthful people.

2. Philosophy and values

Hive-five provides educational board games to connect and develop soft skills for
students to tackle the problem of lacking skills in the youth generation with novel ideas.
We appreciate the enthusiasm of young people when hanging around and playing
games. We do not just create games for fun but also help students find their strengths
by involving themselves in the game. Our four consistent value pillars include
connection, eagerness, teamwork, and fun.

3. Vision
Our vision is to become a pioneer reliable manufacturer of educational board games for
students across Vietnam.

4. Goals
4.1 Long-term:
Generate a stable revenue stream and generate a 15% profit margin.
Create a strong community of 1000 people loving the brand and are willing to pay
for every launched product.
R&D new concept, the skill needed to develop a game that enhances the product
experience for customers.
Scaling the market to home decoration and labor market.
Opening physical stores in Hanoi
4.2 Short-term:
Building follow-up offline workshops on a larger scale between young students in 3
months (each month 2 workshops) attracting students who studying in university,
high school, and secondary school to create a long-term community.
Making deals with board game cafes to be able to raise brand awareness.
Building an official website including information about the product as well as blogs
sharing the knowledge of soft skills and board games.

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 5. The target market
Board Game Industry
This includes 100 Board game coffees in large cities (Hanoi, Hochiminh city, Da
Nang, Hue, etc.), Target Market: 10%

12-25 ages people

This includes students, people who have a passion and interest in board games,
and people who want to entertain, enjoy with friends and enhance their
teamwork skills.
Target market: 10%

6. Industry
Hive-five will operate in the board games manufacturing industry, which is
identified by VSIC code 3240 - Manufacture of games and toys, which consists of
establishments primarily engaged in producing teamwork enhancement board
games for consumption from Gen-Z of the board game community.
Ethnically inspired to serve a consumer base that lack of teamwork skills, Hive-
five is a board game manufacturer specializing in addressing problems of
youngsters who lack soft skills, particularly those who often get distracted from
the internet of the modern world. The product will free consumers from
depending on a large amount of time on social media.
Hive-five aims to spread a passion for learning and improving soft skills through
exciting board games created in an academic environment. Through its products,
Hive-five plans to roll into community events throughout the board game cafes,
soft skills enhancement courses, and workshops. Future growth possibilities lie in
expanding the number of soft skills enhancement board games rather than
teamwork only, integrating board games used to learn on demand, and expanding
a new market of collecting and decorating items to display in households.

7. Legal Structure
In the early stages, we choose to share our ownership equally among the six
members. Thus, a partnership is formed.

8. Business Model Canvas

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6
 III. MARKET STRATEGY
In recent years, there have been
increasing demand for board
games both online and offline. This
is due to a number of reasons,
including the overall growth of the
gaming industry as a whole. The
Global board games market was
valued at USD 13.75 billion in 2021
thanks to the increased popularity
of online gaming and the entry of new
OTT platforms In Board Gaming.
Many recent studies have shown that people who play online games get bored
and then return to board games because these games are highly connected. The
board game community become home to this segment. Do you see anyone
playing board games alone? The whole family plays together, friends play
together, and colleagues in the office can also play at recess.

Hive Five’s phenomenal market entry strategy:

Hive Five's products are currently mainly targeted in Hanoi, but the company is
always looking to expand its operations. In 2023, the company will expand the
market nationwide by setting up offline stores in major cities that showed
demand and interest in their products. This focused strategy paid off, as Hive
Five saw a 4% increase in profits and sales in 2023.

Diversification:
Diversification is an essential part of the Hive Five market strategy. Aside from
its multiple tank sets, it will also branch out multiple means in board games to
promote the brands.
Hive-Five will continuously provide various genres of board games to meet the
goal of educating and improving the skills of students. We already launched the
first game with the aim of improving teamwork. In the near future, the growth of
the company hopes to depend on other board games developing skills like
language, communication, critical thinking, time management, etc.

Social:
Our target is to build strong communication who loves the feeling, and the vibe
of playing board games rather than cyber games. Those are our customer base.
To achieve the goal, our team will put effort in educating students from
secondary schools to people around 20 years old, who have free time to play
game and in demand improving their soft skills the most.
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 IV. MARKETING PLAN
1. SWOT analysis
As Hive Five’s marketing team, we want to help the brand lean into what it
does well, improve what it doesn’t, capitalize on what it can do, and defend
against what could challenge it. With that in mind, here is our SWOT analysis for
2022.

STRENGTHS WEAKNESSES
Flexibility: Plans are made, Lack of human capital
change quickly, early update to
the local trends As a new brand of board game
Concept and operation principles products, we are lacking in brand
of our product are unique and recognition, customer loyalty and
novel which refer to learning especially customer trust among
about historic stories of Vietnam. famous board game companies.
Our customers like about us:
Friendly to the customer
community

OPPORTUNITIES THREATS
With the Large community of We need to constantly innovate,
board game, we can reach a large update trends and improve the
number of potential customers game or else we will be outdated
With the Technology demand, we and only reach customers at the
can expand the product by beginning.
developing online board games Easy to copy ideas, and severer
through apps or websites. competition in the market with
Our differentiator: Our team is some board game companies
students who have more available in the market
creativity, innovation and easy to
approach with customer
perspective to find out their
demand and expectation

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 2. Business Initiatives
Hive Five company has the ambitious goal of acquiring 100 customers and
retaining 80% of its existing customer base 3 months. To help the business do
that, our marketing team will pursue the following initiatives in 2022

2.1. Initiative 1: Building Brand Awareness

2.1.1. Description
Over the first 1 month, we worked on building a social network that becomes
go-to research for our customers’ burning questions and create awareness of
customer about our brand
2.1.2. Goal of initiative
To increase our fanpage’s rank on Facebook and Instagram, create critical top-
of-the-funnel marketing content that helps our sales team start more
conversations with prospects.
2.1.3. Result of initiative
Fanpage Hive Five has 4 posts in this period.
Page likes 100 and followers 109

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 2.2. Initiative 2: Build - Measure - Learn Loop
2.2.1. Description
Over the next 1 month, we’ll work on building a prototype, measure customers’
ideas and suggestions through testing, and get customer feedback. From that,
analyze the changes or additional functions of the product which are actually
helping make progress
2.2.2. Goal of initiative
To test the MVP with its target market by asking questions about the design,
usability, core or bundle of benefits, and other attributes that enhance the
customer experience.
2.2.3. Result of initiative
4 testing sessions for students at the university
6 testing sessions at board game coffee shops
72 customer feedbacks
Build the prototype

Measure Testing

Official product Customer Feedback

Analysis & Change

2.3. Initiative 3: Launch the first product

2.3.1. Description
Over the next 1 months, completing and launching the first product to market. We
will introduce and start selling products in two main channels.
1. Personal selling: in University, Board game Coffee shops
2. Online selling: on Social media (Facebook)
2.3.2. Goals of initiative:
Initially have a certain customer group and reach more customers through sales
promotion strategy and word of mouth through strategy
2.3.3. Result of initiative:
After the first 2 days of opening for sale, there were 10 customers who ordered and
received the goods, with good feedback on the product
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 3. Buyer personas
3.1 Trương Đình Nam
Age: 18 years old
Gender: Male
Job: Student at University
Hobby: Playing and collecting different types of board games
Pain point: He wants to find new principles to play with friends and add to his
collection
3.2 Mrs. Bích Ngọc
Age: 30 years old
Gender: Female
Job: Founder of a Board game coffee shop
Hobby: Playing board games, shopping, gathering with friends
Pain point: She is looking to retain and attract more customers with new
backgrounds, and team-based and cooperative board games.

4. Marketing strategy
4.1 Product
Our product is a set of board games with the content of team cooperation in a
team to fight against other teams through custom maps and tank levels designed to
suit and effectively in the game. The promotion of players' logical thinking,
cooperation, and creativity.
Our products will solve the need to improve teamwork skills and improve team
spirit. Moreover, to meet entertainment needs, make friends with everyone.
In addition, customers can create and customize their own maps according to the
desired content on Hive Five's website (the company will design and print
according to customers' wishes).
Besides, for major holidays like Halloween, Christmas, etc., we will have a
challenging program (offline) with maps related to that holiday so that customers
can challenge and challenge each other to bring back interesting gifts from the
organizers.
4.2. Price
We will sell each set for 420k/set, and 350k/set for pre-order
In addition, customers can buy more tanks, and open new maps for 50-100k
depending on the design.
This is a fairly competitive price for a team-based board game with a moderate
level of complexity for brands already on the market.
With the ship orders, we will free ship within Hanoi city, and 20k shipping fee for
suburban.
4.3. Place
Products will be delivered from the manufacturer to customers
Major production units in Hanoi city
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 4.4 Promotion
We promote our product in the following ways:
4.4.1. Organic channel: our website
The website will go into operation when the company has a certain number of
customers. Here will include all information about the game, decipher the playing
process and ask questions to customer service staff.
Besides, the website will be where customers can create their own accounts. The
company has published “The Hive five factory project” which allows people to
create their own designs and order from the website
4.4.2. Social media
Facebook and Instagram content
We will create content on Facebook and Instagram
to attract customers to recognize the brand and follow
the product programs.
At the same time, we will update the events that
come with the product
TikTok content
Create short how-to videos, product stories, and demo videos to attract more
customers. TikTok is a top-rated social networking channel for young people today.
Promoting on TikTok will be a potential tool to reach the nationwide market.
Community group on Facebook
To be closer to its customer, HIVE FIVE has launched “HIVE FIVE 's Ambassador
Network” which allowed customers can share and exchange their experiences and
ideas about board games. This will be a great resource for us to test new features
and collect ideas, suggestions, and customer feedback for new products.
4.4.3. Sale promotion:
We offer the following preferential policies for customers when purchasing
products:
Buy 2 or more sets: get 1 new map for free.
Buy 3 or more sets and get 1 tank version.
Buy 5 or more sets and get 1 set of 6 players.
Customers owning membership shall receive a beneficial price every next time
they buy a product/products
Wholesales shall receive significant beneficial pricing
In addition, customers who place pre-orders will receive a 15% discount.
Moreover, when Hive Five organizes trial and experience sessions with cafes, there
will be preferential vouchers for customers to attend.
4.4.4. Personal selling:
The main audience will be board game coffee shops and students, we will bring
products to offer to the shop, and open stalls at the gates of schools.

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 Besides, we will cooperate with those coffee shops to organize trial sessions
and product launch events for customers. From there will collect 30% of the
profit of that session.
All of this strategy will help us to reach new customers and engage existing
ones

4.5. Organize pilot at coffee shops

The group held a trial play session for everyone at the coffee board games
shop.
With the response of the young people, the shop has obtained some results as
follows:
15 positive feedback from customers
6 customers agree to buy the product at the proposed price
The coffee shop agrees to buy a large number of products and organize
events with Hive Five in the future.
5. Marketing Channels
We intend to build 4 marketing channels, in which, 2 channels have been put into
operation

6. Marketing Techniques
6.1. Relationship marketing:
Members account
Group community
6.2. Real time marketing:
Customer analysis through Website
Content in TikTok, Facebook , Instagram
6.3. Words of Mouth marketing:
Create customer community to share their own experience.
Customer are students, they can introduce our product for their friends.
Staff in coffee shops can suggest T-3 board games for customer who come to
Board Game coffee shops
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 V. COMPETITIVE ANALYSIS
1. Competitor overview:
The board game is defined as an interactive game genre, operated by many
people through a chess board. In this game, we often use accompanying items such
as cards, dice, chess pieces, etc. to support the game. According to this definition,
the company selects two competitors of Hive-Five as follows:
Board game Seahorse chess
Board game Werewolf

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 2. Detailed analysis
2.1 Price
In terms of price, Hive-Five's competitors have many prices ranging from 100,000
VND or more depending on product quality, number of people, brand, etc.
Service, experience
Hive-Five's competitors provide customers with diverse gaming experiences such
as role-playing games, strategy games, survival games, etc., aiming to help players
get to know each other, entertain, bonding, team build, completing individual goals
in the game. In addition, it helps players develop and supplement skills of
observation, logical thinking, communication, coordination, etc.
2.2. Service age
The target audience of Hive-Five's competitors has many different ages from
unlimited age to certain age groups such as children, students at all levels,
university students, working people, etc.
2.3. Functions
Flexibility: current board games are all compact, portable, and can be played
anywhere, anytime as the player wishes.
Diversity: Hive-Five's rival board games have been designed and existed for a
long time, so they have dozens or even hundreds of variations, levels, game
sizes, and rules.
Models: Thanks to its long existence, Hive-Five's competitors have a variety of
designs from manufacturers, self-designed customers, fan art, personalization,
etc...
2.4. Design style and game genre
Hive-Five's current competitors have launched many genres of play such as role-
playing games, strategy games, fighting games, etc.
The game design of most of Hive-Five's current opponents is aimed at helping
players win for themselves or for their teammates.
2.5. Easy to use
With easy-to-understand rules, Hive-Five's current opponents that are accepted
by a large number of players can be seen through their presence everywhere from
schools, cafes, offices, families, etc.
2.6. Model and warranty
Although there are many genres and models, most of them do not have warranties
for customers who buy board games until now.
2.7. Product quality
In terms of product quality, Hive-Five's competitors are made mostly of cardboard
and paper with acceptable quality but not really worth their price and are easily
wrinkled and torn. when using or in contact with water

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 VII. FINANCIAL ANALYSIS
1. Financial Statement
We plan to sell 100 products for 3 months, and we need to sell 57 products
with the price of each product being 420,000 VNĐ to cover the entire product
cost, marketing cost, logistic cost, and costs of risk within this period.
The following is the detailed forecast financial analysis for the three months of
Hive Five's operation.

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 2. Income Statement

From the income statement above, we can see that the cost of sales is taking up a
very large percentage, leading to the gross margin not being high. Our team's goal
for next year is to reduce the cost of sales to less than 40% of total revenue
thereby maximizing profits.
In addition, we will also negotiate to reduce the store's rental price because this
cost is accounting for more than 50% of our total operating costs.

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 VIII. DESIGN AND DEVELOPMENT PLAN

1. Design Plan
Design process: It is a 1-2 month development period that consists of two
phases: Prototyping and Manufacturing:
1.1. The prototyping phase follows an idea-generation process to help
designers follow a logical sequence of steps. The cycle can be broken down
into three stages: Exploring, Developing, and Validating.
The Exploring stage is where market trends and developments are
identified: designers explore and learn the market, for example through
interviews with youngsters or the observation of their behavior in board
games.
The Developing stage uses the findings from the exploratory stage to
actually design and develop the products. The team will use designing
software to initial design sketches into drawings, then create the
prototypes.
The Validating stage is when the design is presented and commented on by
board game players, or board game coffee shop owners. For example, Hive
Five designers invite youngsters in the community to play with newly
developed board games so that they can observe how they play and what
the prototype weaknesses are. From that, designers can measure some
feedback from customers to fix and add the customers’ expectation
1.2. The Manufacturing phase
It can take up to 1 month to reach the decision of whether a project enters
the manufacturing phase. The prototype designs are compiled in the
Foundation Overview document that aids the comparison and selection of
2. Development
designs to manufacturePlan
2.1. Future Plan for 2023
Hive Five plans for the next 1 year, according to each rule, there will be 2 main
milestones to deploy for each quarter. Plans can be accelerated or rescheduled
depending on the situation of the company and the economic market in Vietnam.

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Table: Future plan for 2023
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 2.2. Detailed plan for 3 months
Hive Five builds a specific plan for 3 months including November, December 2022,
and January 2023.

Table: Detailed plan for November 2022

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Table: Detailed plan for December 2022

Table: Detailed plan for January 2023

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