Executive Summary

What is business concept and model?

Our business concept and model in general is furniture that is suitable for the use of all age stage. As a beginner in furniture market, we decide to make student, officer and children as our target market. From marketing perspectives, we do agree that they are the suitable user that can help us in gaining profit. But, from user’s perspective, this product actually is fit for the usage of all age from children to old age adults.

This is because of the uniqueness of the product where the material is light. Even though it is light, it is still a good quality material. The woods used are high quality woods, very durable and it can be get with reasonable price. 

Children can use this table as their work or colouring table, students and officer can use it as a table when using their laptop by sitting at the ground or on the bed while adults can use the table as their coffee table when reading newspapers. Our product’s uniqueness and high quality material won’t disappoint the customers.

Fold-able table is an easy-carry product as the size is not too big and not heavy at all. Users can carry it wherever they want and can use it anytime they want. It not only because of the size but the design of the table is also giving conveniences to the user to carry it. When need to use it, just stretch out the table’s leg. To keep it after using, fold the table’s leg and that’s it. The size and design helps in carrying anywhere and also space saving especially for those who stay in hostel room.

Although we focus on adequate CPU cooling to protect user from computer heat, but actually this product is multifunction. Children can use it in many ways. Not only for work table or colouring table, parents can clean up this table and make it as an eating table for the kids. Students also can use this product to do their assignment and tutorials instead of only for the use of laptops. Adults can use this product as a platform they can put their things. Because of their conditions that some people may get weaker and lost their ability to walk. They can use this table to put things while they are sitting on a chair or on a sofa.

We hope that our concept and model that we are selling can attract our targeted customers to buy as before this, we know that that this kind of product is highly demand by university’s students. We believe that the price that we going to put are affordable to all students’ level. This is the first and one and only fordable table that can be used on bed and everywhere, easy-carry and multi-functional.

Model: Wooden Fold-able Table on Bed, Luxury Aluminium Fold-able Table on Bed, & Plastic Fold-able Table on Bed

How is the business concept and model unique?

Why fold-able table is so unique and attracted Able Group to sell it? The main reason is the demand of this furniture is very high in market. After we had done the survey, we found that there are only few companies manufacturing this product in small quantity. Since our company is based on profit-margin, selling this high market value product is definitely a right choice.

Besides that, “fold-able table on bed” functions not only on bed, it can be placed on floor or any flat surfaces too. It is very easy for storage and travel. You can bring along this product in a well-designed bag when you move from one place to another or in other word, portable. It can be folded and put under your bed which can save a lot of space. Therefore, our main targeted customers are students as they stay in hostel which the space in room is limited.

As the name of product sounds “fold-able” means it is retractable. Customers can adjust the degree of inclination and height of the table easily. Able Group ensures that this function can bring satisfaction to customers indeed. It is good for our eyesight too as we can adjust the degree of sloppiness which ordinary table cannot perform this function. Furthermore, it can encourage proper sitting posture as well. That is the reason why this product is said designed for human.

Fold-able table weighed only 1kg which is considered very light. It is weightless on user’s legs with no body contact. Therefore, it is suitable for long hours of use. This table could protect users from computer heat while ensuring adequate CPU cooling.

Lastly, we would like to describe about the appearance of the table. It is designed to be simple but ergonomic. We are sure that its attractive appearance can definitely catch customers’ attention. Furthermore, the table is environment friendly as it can be used for long period because it was made of strong and durable materials. Besides, it is a multi-functional table. Why do we say so? It is because we can put laptop on it and enjoy surfing the net besides placing books on the table while reading.

Who are the individuals starting this business?

Initially, executives from Able Group which include of 8 members have a business idea on selling multi-functional furniture on market. They are Liyanie Hazimi, Mabel Tan, Lee Qiao Fan, Lim Ying Suo, Lim Chin Yi, Maizatul Ekhma, Maizatul Syuhada, and Hamidreza. After some research, they found out that there is demand for fold-able table on bed, especially for the students in University of Malaya. The demand of fold-able table arises among the university students because of the limited space that they can use in their room. 

Besides that, the wooden-designed fold-able table allows the students to study on bed or on the floor. Apart from that, they also plan to sell the fold-able table to officers and children to expand the market. The luxury-designed fold-able table made of the aluminium is designed to target officers, while the fold-able table for children is made of plastic for the safety purpose. In sum, they decide to sell the fold-able table since there is high demand for it and it can bring the convenience to the people.

How will they make money and how much?

Able Group earns by applying marketing concept in their business plan. Firstly, Able Group divides the customers into different segments with different needs, characters and behaviour. Hence, Able Group could understand customers well and can satisfy their needs and wants by segmenting the market. Able Group targets three segments of market which are students, officers, and children. With a wide range of targeting market, it will easier for Able Group to sell the products.

COST PER TABLE:

Product (Fold-able table on bed)	RM 40
Labour Cost	RM 19
Transportation	RM   4
Promoting Cost	RM   2
Total Cost	RM 65
Selling Price	RM 80
Profit	RM 15

 

For each unit of table sold, Able Group obtains a gain of RM 15. Able Group aims for sale of 50 tables throughout these 5 months. In other words, Able Group estimates RM 750 of total profit by 31st January 2013.