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- 2. Agenda Research Methodology Market Review Consumer Attitudes Strategic Business Objectives “The Octopus Cart” Business Idea Vision Mission Strategic Marketing Plan Target Groups Positioning Statement 4P Financial Projections Action Plan Agenda
- 4. Research Methodology Field Online Focus Trip Survey Group Research
- 6. Overall Satisfaction? 250 200 We are not quite happy… Cumulative Votes 150 Waiting hour Operation hour 100 Location Price Food quality 50 Food diversity 0 Very dissatisfied Dissatisfied Slightly dissatisfied Natural Slightly satisfied Satisfied Very satisfied
- 7. Demographics New Asia, 1066, 15% Chong Chi, MedHostel, 1413, 20% 248, 4% PostgradHost el, 946, 13% United, 1048, 15% Ihouse, 254, Shho, Shaw, 1160, 4% 600, 9% 16% Morningside, 300, 4%
- 8. What kind of animal are we? 5-6 days 0 day 12% 17% 3-4 days 1-2 days 41% 30%
- 9. Demand for midnight snacks? More than three times Three Zero 3% times 21% 20% Once Twice 26% 30% Research
- 10. We deserve BETTER! Analysis
- 11. Here comes the solution! Analysis
- 12. The Octopus Cart The Business Idea Strategic Business Vision Objectives About Us Positioning Mission Target Groups
- 13. The Business Idea • MOBILE food cart • Quality midnight snacks • Operation hours: 9:00 p.m. – 2:00 a.m. • Different operation locations Introduction
- 14. Vision scholé “to promote the culture of quality campus life” M&V
- 15. Mission Customer- orientation Quality Convenient midnight locations snacks
- 16. Target Groups Residential Students Non-residential Students: the Late Leavers
- 17. Positioning Statement “To CUHK students, residential and non- residential, the Octopus Cart is the ultimate brand of midnight snacks which feed their stomach with scrumptious food and drinks.”
- 18. Six Core Business Objectives Competitive Business Objective Strategy Advantage Better food To provide students with quality food Product Better services To provide customers with good services Better locations To serve students in different colleges Place To appeal to students’ need for convenience Better financial To price the products at a slight premium Price returns To develop a financially sustainable business Financial controls Analysis
- 19. Product Strategy 4P
- 20. Product Strategy Burger 13% Sweet soup 20% Sandwich 10% Noodles Hotdog 15% 13% rice Hot snack 3% 26% Figure - Pie chart showing respondents’ food preferences
- 21. • Octopus ball Food • Waffle • Japanese Pancake Sweet • Sweetened sago cream • Sweet potato soup Soups • Bean stick & egg soup • Taiwanese Milk-tea Drinks • Tea • Coffee
- 23. Pricing Strategy 4P
- 24. Pricing Strategy $21- $25- $6-$9 $24 $28 3% 6% 0% $17-$20 19% $10-$13 31% $14-$17 41% Figure - Pie chart showing respondents’ willingness to pay for each midnight snack item
- 25. The Menu Octopus balls Waffle Japanese pancake (6 pieces) $14 $16 $17
- 26. The Menu Sweet soup Taiwanese milk-tea Tea/Coffee $15 $14 $10
- 27. Combo set pricing $2 discount for every TWO items purchased!!
- 29. Promotion Strategy 4P
- 30. Promotion Strategy Promotion campaign On-going promotion initiative
- 31. Leaflets PROMOTION CAMPAIGN campus- wide Free mass souvenir mails
- 32. Collaboration On-going Facebook fan with hostel promotion page committees initiatives
- 33. Place / Distribution Strategy 4P
- 34. Current Problem
- 35. Survey result Students in CUHK would like to see our midnight snack cart operate in the Shaw College, New Asia College and the United College Central S.H. Ho Train station campus 6% 12% 12% CC Morningside 10% 4% UC SC 17% 20% NA 19%
- 36. Train Station New Asia College United College Shaw College 21:00 p.m. -21:50 p.m. 22:00 p.m. - 23:15 p.m. 23:15 p.m. - 00:30 a.m. 00:45 a.m. - 02:00 a.m.
- 37. Financial Projections Projected Income Statement Year 1 Year 2 Year 3 Year 4 Sales Revenue 600,000 720,000 864,000 864,000 Cost of Goods Sold 150,000 180,000 216,000 216,000 Gross Profit 480,000 594,000 731,700 731,700 Other Expenses Promotion Expenses 80,000 50,000 50,000 50,000 Salary Expenses 120,000 126,000 132,300 132,300 Petroleum Expenses 36,000 36,000 36,000 36,000 Depreciation Expenses - Food Cart 12,000 12,000 12,000 12,000 Depreciation Expenses - Utensils 2,000 2,000 2,000 2,000 Net Profit 230,000 368,000 499,400 499,400 Projection
- 38. Key highlights 1. Generate revenue of $600,000 in its first year 2. Grow each year at approximately 20% 3. Invest $60,000 in the food cart and a second- hand vehicle initially 4. Earn an increasing net income
- 39. Action Plan • Develop our secret recipes • Contact and bargain with suppliers Pre-operation • Purchase a food cart and a second-hand vehicle • Purchase utensils Action Plan
- 40. Action Plan • Launch our business and start operation Introduction • Distribute promotion materials including leaflets and mass mails Stage • Distribute free souvenirs to customers
- 41. Action Plan • Build the Facebook fan page • Contact and build a collaborative relationship Continuous with hostel committees Development • Introduce new midnight snacks to our menu periodically
- 42. Conclusion Meet the demand quality midnight snacks that meet the demand. snacks at a convenient location. Conclusion
- 43. Conclusion Mobile Flexible Delivery services. Array of business initiatives. We can do better