Financials
Value proposition
Our product will have different styles, which will make people have varieties of choices to choose from. We will have deals which will happen often but not all the time.
Competitive advantage
One of our competitive advantages is that our product is not on the market yet. The Smart Couch is something new and creative that will catch people's eye. With added technology the couch will rise above the rest and prove to be a much more relaxing experience than competitors couches.
Marketing strategy
Our market strategy will consist of using social media as our main source of exposure. This will reach many of those in the younger generation. We will also use our partnership with the main furniture chains to get more exposure with the public.
Distribution patternsWe will distribute our couches online or in store depending on the person's preference. If they want to order it from our website or from the furniture chain store that we are partnered with, it's their choice.
Pricing strategyOur Smart Count is going to be priced $2499.99, which is a reasonable price considering the size of the couch, its technology and the many things it offers.
Revenue StreamsThe most obvious way we will gain income is by selling our Smart Couch to the public, this will produce a large amount of our money. We will also have warranties that the customer will then have to pay monthly as another source.
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Positioning statementThe Smart Couch is intended to be for those who seek more comfort. We need to make sure that we exceed the expectations with comfort and accessibility. We are able to provide this with the different feature that it offers on the attached smartphone. When our customers think of our product, they will think about how it improves their lifestyle.
Sales StrategyOur company will not have door-to-door salespeople, but we will be partnered with a big furniture chain that has their own employees. This means that they will be in the store helping the customers and showing our product.
Sales ForecastWe predict that our product will succeed because of the coming age of technology. It makes sense that many households will need to improve their technology, This means that we will be making many sales when starting.
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Milestones
We hope to reach our goals of at least a thousand couches sold be each week in order to maintain balanced profit gain.
Break-even analysisWe need to sell as much as a few thousand per week for us to gain profit efficiently. Our monthly revenue should be around 500,000 thousand dollars per month. If we gain less than that, our business will slowly drop.
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AssumptionsWe believe that our couch will prove to be more relaxing than normal couches because of the implemented technology. This technology will help with not having to get up to do certain things like heating up the room or turning the lights on because of the smartphone.
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Projected Profit and Loss
We believe that our projected profit will be larger than our loss because people will most likely want to buy this couch because there are no couches that exist like our product.