ebc g2 final presentation slides (pdf version)
TRANSCRIPT
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U BoxChia Lin LeeNigel GnohJin Hao Ng
Eric OngZi Yi Kok
Denise Lui Priscilla Tan
An explorative first glance of our new business and how you stand to
make money from it.
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Nigel Gnoh Denise Lui Kok Zi Yi
Seeking $20k for a 20% stake
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The Problem
Excessive belongings? Good business idea?
High startup Costs!
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What’s the perfect solution for U?
Low Startup Costs Convenience
Big Businesses Start Small
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We are calling it Box
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BoxWHAT’S UP
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Box, IN-BRIEF
12
34
To provide a one stop solution for customers who want to experience entrepreneurship
Sell their pre-owned items in a retail locker space as well as have people to help them sell
Virtual shopping experience
Unique business model leverages on the strengths of both an online store and a physical one
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8
Retail locker box concept around for 10 yearsNew players still entering the market despite early adopters
Focus on differentiation on 4PsHuge market potential
Environmental Analysis
And uBox is DIFFERENT from other players!
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Industry Analysis: Porter’s 5 ForcesBargaining Power of Buyers
MODERATE
Students & Professionals Students & Professionals Students & Professionals Lack of controlLack of controlLack of control
Threats from
SubstitutesLOWLOW
Competitive Prices Niche ItemsNiche Items Wider Variety Online Preview
Bargaining Power of Suppliers
LOW
Diversified ClienteleDiversified ClienteleDiversified ClienteleDiversified ClienteleDiversified ClienteleDiversified Clientele
Threat of New
EntrantsHIGHHIGH
Low BTE Low BTE Low BTE Easily Imitable Easily Imitable
Competition Rivalry
MODERATEMODERATE
Many CompetitorsMany CompetitorsMany Competitors ProximityProximity
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STRENGTHS WEAKNESSESSTRENGTHS WEAKNESSES
OPPORTUNITIES THREATSOPPORTUNITIES THREATS
Industry Analysis: SWOT
• Experienced founders with wealth of connections
• Comparative advantage (larger variety, alt revenue streams, better than online)
• Excellent location with low rental and high human traffic
• Low BTE
• Restriction of certain products
• Main driver of revenue and profits is limited by shop space
• Idea can be easily copied
• Future expansion in other schools
• Liaise with corporate companies, retail shops and blog shops to provide the concept of retail locker space for events or flea markets
• Possibility of new entrants• Online retailers• Lower customer stream
during off-season period on school holidays
• Fluctuating # of clients• Future probable high
competition price war
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What’s our STRENGTHS?
Connections
Larger Variety
Excellent location
Low BTE
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Restriction of certain products
Limited by Shop Space
Imitable idea
What’s our WEAKNESSES?
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Future expansion in other schools
Corporates Retail ShopsBlog Shops
What’s our OPPORTUNITIES?
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Possibility of new entrants Online retailersSeasonal
Fluctuating no. of clients Competition Price War
What’s our THREATS?
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Primary Market Research
15%
21%
25%
40%
5%10%
15%
70% ClothesAccessoriesBooksTechnology gadgets
Better gauge of demand and sales mix,
We want to buy these! We want to sell these!
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60%
40%
$30$20
Primary Market Research
Pricing policy:I
will pay $20!
60% 40%
I will pay
$30!
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Primary Market ResearchPROBLEM PROBLEM
Secondhand Stigma Hygiene & quality issues
Quality Assurance Manual Product Check
NO COUNTERFEIT/EXPIRED!Incentive to sell high quality
products
SOLUTIONS
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• “Singaporean youth consumers have been described as having six pockets of income, including income from parents, grandparents, and part-time jobs.”
- From Young Consumers Singapore 2008
Carrie La Ferle, Ph.D.Associate ProfessorTemerlin Advertising InstituteSouthern Methodist University
Kara Chan, Ph.D.*Professor Department of Communication StudiesHong Kong Baptist University
Market Strategy and Plan
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Market Strategy and Plan
Segmentation FactorsSegmentation Factors
GeographicGeographic location of customers and proximity of uBox
to them
Psychographic
Preference and neutrality to second hand items
Behavior
Lifestyles and Interests
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Targeted Groups:
Market Strategy and Plan
Students Office Staff Advertisers
SMU, SOTA, YMCA SMU StaffManulife Centre NTUC Income
Centre
Brands that target students
and young working adults
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Market Strategy and Plan
Re-categorization of Targeted Groups
uBoxers Customers
Advertisers
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BoxLocker Rental Service which allows the uBoxers to sell a wide array of products and
embark on their own business Product VarietyProduct VarietyProduct VarietyProduct VarietyProduct VarietyProduct Variety
2 months deposit
Pricing OptionsPricing OptionsPricing OptionsSpaceSpace Internet
2 months deposit
Pricing OptionsPricing OptionsPricing Options Extra ChargesExtra ChargesExtra Charges
uBox seeks to increase awareness among its target
groups by engaging in aggressive promotional
efforts Direct MarketingDirect Marketing Word of MouthWord of MouthWord of MouthWord of Mouth
Location: SMU Concourse Large Volume of Students
Lunch Crowd from offices
Lunch Crowd from offices
Lunch Crowd from offices
Proximity to Bras Basah
MRT
Proximity to Bras Basah
MRT
Basic $30Premium $55
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Philantrophy
Option to donate sales
Free rental to charity
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Sales Strategy
Maximizing Value and Yields
Students Discounts
Refer a Friend Policy
Student Unions
Catering to Blogshop owners
Cheaper Solution for Flea Marketers
- Persuading Potential uBoxers to sign up for larger size boxes when they express interest in our boxes
- Better value for customers (Attractive Prices)
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- One-off $5 discounts to students for the first month of their rental periods
Sales Strategy
Maximizing Value and Yields
Students Discounts
Refer a Friend Policy
Student Unions
Catering to Blogshop owners
Cheaper Solution for Flea Marketers
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- Offers Students a 10% discount on the total value of their next contract for getting friends to become uBoxers as well
Sales Strategy
Maximizing Value and Yields
Students Discounts
Refer a Friend Policy
Student Unions
Catering to Blogshop owners
Cheaper Solution for Flea Marketers
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- Securing SMU staff and student representative groups
- A special offer for every batch of 4 small retail boxes is offered to each of these major student representatives
- Helps to increase awareness of uBox among SMU students
Sales Strategy
Maximizing Value and Yields
Students Discounts
Refer a Friend Policy
Student Unions
Catering to Blogshop owners
Cheaper Solution for Flea Marketers
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- Luring well-known Blogshop owners to sell some of their wares at uBox
- Low Cost Brick and Mortar shop that has a large base of customers
- Serves as a storage and distribution point- Eliminates postage fees for the blogshop owners
Agnes Elle
Love Bonito
Sales Strategy
Maximizing Value and Yields
Students Discounts
Refer a Friend Policy
Student Unions
Catering to Blogshop owners
Cheaper Solution for Flea Marketers
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- Flea Markets currently charge booth owners 50-80 dollars a day for booth space- uBox Provides lower monthly rent of $30 with the same or even greater amount of customer flow
Sales Strategy
Maximizing Value and Yields
Students Discounts
Refer a Friend Policy
Student Unions
Catering to Blogshop owners
Cheaper Solution for Flea Marketers
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Toy OutpostCactus Farm Otaku House
Competitor Analysis
Direct Competition:
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1. Bigger Market
1. Focus on selling products eg. toys, IT gadgets
2. Strong brand association
2. Greater Product Variety
Direct Competitors
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BlogShops
Indirect Competitors
I prefer to examine (see, touch, feel) the products in
real life!
Customers
Expensive rental, need to manage the
stall personally
SellersFlea Market
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Management Policy
Flat Organisation
Minimum Labor Costs
Marketing Operations Finance
Part Timer Full Timer Expansion!
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Inventory & Quality Assurance
Online System to manage their inventory
Product Variety
Quality Assurance
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Revenue Projections
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Business Ratios
• Low fixed cost• Low debt, almost a pure equity firm• Do not expect to make credit sales or
credit payments• Cash conversion cycle
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Start Up Investment
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