HAAT BAZAR AT NSU

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Executive Summary

According to business CANVAS model, our key partners will be Farhan Group for concentrated

perfumes and Crazy Mart for the t-shirts. Key activities will be value proposition which will be

reasonable pricing policy. Key assets will be our stall. According to value proposition we will be

selling concentrated perfumes of many different established brands with whom people are

already familiar with, these perfumes come with a 6ml travelers pack and are small in size so

could be carried easily. Moreover, our perfumes are alcohol free which resembles a religious a

Muslim person to recite prayer without hesitation, keeping that maximum population of

Bangladesh are of Muslim religion. The fragrance of the perfumes reflects one's personality as

well. In case of the t-shirts we are providing famous cartoon characters printed t-shirts which

comes with a very exclusive low price keeping the quality good. Our main target customers are

mainly the NSU male and female students.

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Table of Content Page Serial

(Part-A) Initial plan for Haat Bazaar.

4

(Part-B) What happened in real time?

9

(Part-C) What we could have done

better?

12

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(Part-A) Initial plan for Haat Bazar.

Introduction:

The initial plan for Haat Bazar event was very confusing as this was the very first time for us to

set up stalls and come up with a proper business which can make profits in one single day. This

was indeed a very hectic decision to make because investing 10,000 Taka for a day only and

make the best out of it was not easier to imagine. We had to take every step very properly.

Because one single fault could have made our entire plane a matter of waste. The main target

was not to do only business but also getting the invested amount back by any possible cost.

Previously, we thought of doing food business as we all know that how much the food business

can be a great success in NSU. If a very expensive cup of North End Coffee can do business

successfully in the university premises of NSU then nothing would be better than food/beverage

related business for the NSU students. Therefore, we came up with a decision to start Winter

Pithaas and delicious Chocolate Brownie Pastry along with famous juice of old town in our

stalls. But a proper business does not only constitute the market trend. Instead, a proper business

consists of proper market research and demand as well. Hence, we started to do market research

on different kinds of products such as, foods, beverages, clothing, perfumes, cosmetics,

handicrafts etc. within our friend circles in NSU. Most of them showed interest towards either

the cosmetic items or perfumes. To some extend clothing was big attraction for them as well if it

is kind of fancy and stylish. Again we were continuously visiting the promotional page offered

by honorable faculty member, powered by NSU YES Club. There we found out that most of the

stalls were related to the pastry/cupcakes concept. At first, we thought that can be a huge big

competition to fight among each other by putting up same kind of products. So that, we changed

our minds and stick to the perfumes.

As we all know that, small branded cologne pocket roll-on perfumes would be a very attractive

thing to most of the NSUers because either they order these over the internet at a very high price

or they need to go to certain available shops which are not nearer to NSU. Therefore, a

reasonable price and the availability of various brands can generate more revenue for our

business at a first glance.

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Customer Segments:

Segmentation is very important for a business. Without understanding the target market, it is

very difficult to sustain in a business. Therefore, all the students, faculty members, staffs, and

even the OSS of NSU are our target market.

Value Propositions:

Purity of our homemade cakes are preferred by everyone. Fragrance is a symbol of personality

and test of beautiful minded to the people. On the other hand discount offered on buying every 2

T-shirt will attract buyers.

Channels:

Customers will purchase instantly from the shops. Parcels will be provided. Suppliers are one of

the most important factors for the business as the products must be ready to sell.

Customer Relationships:

By offering great and interesting deals, we tend to build our relationship with the customers. We

will offer 5% discount on buying 2 Perfumes to build much strong bonding with our customers.

Key Resources:

Our key resources are Perfumes,T-shirts,etc.

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Key Activities:

Stall will be opened from 8am to 5pm. Any 2 people from the group will always be at the stall.

Key Partners:

Our key partners are the authority of North South University, Supplier of T-shirt, Distributers required for

the distributions.

Cost Structure:

T-shirt purchasing price, Trial use and Package cost

Revenue Streams:

Pricing is one of the most important factors in generating revenue as students can purchase the

almost the similar kind of items inside from another stalls. So, the pricing will be reasonable &

discount will be offered so that, the revenue remains higher as per higher amount of sale.

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Business Canvas Model For Fragrance

Key Partners

The authority of

North South

University,

Supplier of Perfume ,

T-shirt

Distributers

required for the

distributions.

Key Activities

Stall will be opened from

8am to 5pm.

Value Propositions

Reasonable pricing,

Discount offering.

Customer

Relationships

By offering great and

interesting deals, we tend to

build our relationship with

the customers. We will offer

5% discount on buying 2 T-

shirt to build much strong

bonding with our customers.

Customer

Segments

Segmentation is very

important for a business.

Without understanding the

target market, it is very

difficult to sustain in a

business. Therefore, all the

students, faculty members,

staffs, and even the OSS of

NSU are our target market.

Key Resources

-Perfume

-T-shirt

Channels

Customers will purchase

instantly from the shops.

Parcels will be provided.

Suppliers are one of the most

important factors for the

business as those products

must be ready to serve.

Cost Structure

Perfume purchasing price, Trial use and Package cost

Revenue Streams

Pricing is one of the most important factors in generating revenue as students can

purchase the almost the similar kind of items inside from another stalls. So that, the

pricing will be reasonable & discount will be offered so that, the revenue remains

higher as per higher amount of sale.

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As a result, we brought the following perfume brands depending on different segments;

Axe dark temptation,

Hugo Boss

Hugo XX women

Ferrari

Gucci

Armani Code

(Nina) Richi Richi

Tommy girl

Blue lady

CK

Davidoff Man

As we knew that segmentation is very important and without segmentation no such business can

be successful or make a greater sales so we brought different brands to satisfy our various types

of customer demands. Senior faculty members as well as admin officers have a different choice

regarding choosing brands. Student’s choice cannot be similar thereof every sort of brands were

brought to satisfy the demand and create a vibe among the customers.

As the investment was very less, we could not only depend on one type of product to do business

because there were a few competitors of us to knock us down. Therefore, as a contingency we

also brought many fancy T-shirts to smooth our business scope. Mostly the juniors came to our

stalls for these fancy T-shirts. Therefore, Plan B was already ready to tackle down Plan A.

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(Part-B) What happened in real time?

We had no real life idea of doing a business, so we were disappointed to some extend after the

opening of Haat Bazar when all the people were gathering around the food stalls around 8.30 am.

After 9.30 am we got back our hope when the crowd started to build up. We got a good response

from the customers till 12 am but onwards we found out that some other stalls have the same

products which was concentrated perfume but in a lesser quantity and of different brands. The

problem was that they were selling the concentrated perfumes at a much lower price than our

stall. Then again our business was not harmed as the brands were different and as we had a vast

collection of the perfumes. We also had cartoon character printed T-shirts which was also sold in

a very good pace. Although we had competitors on this sector but then again our economic to

scale strategy place a major role in this sector, so it was not affected that much. We think that our

presentation of the products were better than our competitors, which also helped us to sell more

than the competitors. However, in this span of time from 9.30 am till 12.30 pm we earned the

maximum profit of the day.

PESTEL Analysis:

Political Analysis:

The power of the mobile court must be controlled.

They find us and take our item by force, this should be stopped.

Economic:

The economic situation of Haat Bazar is very well, so our overall sales was good.

The situation was better at the morning but in to the noon the economic situation

gas not so good.

Social:

NSU social situation helps our business and we earned a good profit.

Society appreciated our products very much.

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Technology:

We used facebook as well as internet to promote our stall.

We made our item by using latest technology

Environment:

The weather was good for our business.

There was no dust because we were at NSU.

Legal:

We protected our T-shirt well.

We didn’t copy anyone’s idea.

Description of ventures:

The mission of the venture is to give us a real life experience.

Our product was perfumes and T-shirt.

We hired a table for the business for a day.

Our location was over the plaza 18th stall.

Operational plan:

Description of company’s operation: Our operation was to order T-shirt to supplier and bring it

in NSU and sell the item.

Technology utilization: We use a FB page to order our cakes which need internet. We

communicate over cell phones.

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Market plan:

Pricing: Our pricing plan was based on the capacity of NSUers.

Distribution: We distribute our product by our selves.

Promotion: We promote our stall on FB.

Controls: We control and manage our work throw internal management.

Over all we made a good amount of revenue and a good amount of profit as well. The initials

thoughts about the Haat Bazar were vague and smoky but as time passed by and as we got good

response from the customers we were motivated more and more. However, it was a great life

time real life experience for us that we could be a part of such an initiative of real life business.

Financial plan:

Cost Structure:

We bought our perfume from an online store. They provided us 32 pieces of perfume 150tk per

piece. So it cost 4800 tk (32x150) and T-shirt 30 pieces for per 130 it cost 3850 tk (130*30) in

total. Our table cost is 500tk and other cost is 400 tk banner cost. So our total cost was 8650 tk.

Menu of our items were:

Product Cost (per pieces)

Perfumes Tk. 190

T-shirt Tk. 270

Products sold:

30 pieces of T-shirt (270tk per piece) Tk. 8100

32 pieces of Perfumes (110tk per piece) Tk. 6080

Total Selling Price: Tk. 14180

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Less:

Total Cost Tk. 8650

Sales Discount (10x5) Tk. 400

Mobile Court Fine Tk. 100

1 piece perfume taken by mobile court Tk. 190

Revenue: Tk. 4840

(Part-C) What we could have done better?

We could have done more advertisings/promotions for our stalls in every corner at NSU. A better

promotion always attracts more customers over and over again. We had a very lacking in

promoting our brand properly. We did not put more posters/flyers/banners in front of our stall.

Therefore, when the crowd began, it was bit harder for anybody to find out our stalls. Even

though, we promoted our brands through FB fan pages of NSU. But the main difficulty we faced

was to do a little more in promotions that we understood.

Another thing was the re-investment issue. We did not have enough opportunity to re-order our

products because those were brought from a very distant place. So that, the unavailability of

more products doomed our business plan. The aftermath was we had to do business within the

limit given. We also could have decorated our stall nicely to attract more customers as well. A

nicely decorated stall would always attract more and more customers.

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Conclusion

“Fragrance” was our real life experience as an entrepreneur in a business. We get to know so

many things which would not have been possible for us to know only by the bookish knowledge.

We came to know how the real works should be done, how to articulate things and how to grab

customers. We also get to know what the mindset of customers was, what can be done better to

increase sells and how more revenue can be earner by investing a small amount of money. It is a

platform of getting idea about what business really is and how business people do their task. It

will help us to do business in future and enrich our knowledge for being an entrepreneur.