SITUATION RESEARCH INDUSTRY ANALYSIS
Latest phenomena claim that the Philippine popular traditions has a unexpected increase interesting on authenticating their stylistic taste through sporting equipment such as watches, bracelets, and so on. Success on the other hand, is more likely to get associated with customized products. A great evident model would be businesses with increasing popularity in handmade clay/resin accessories, shoe lace bracelets, and loom rings. It seems that presented goods which can be high in elements of uniqueness and originality make the people more receptive and keen to buy. REVENUE ANALYSIS
Since the enjoy business just starting last Sept. 2010 2014, the sales count number are not but enough for the fair judgment. In more than one month of running the organization, it has completed 11 orders, and six remaining requests yet to get made. This can be a good start nevertheless the product's long life can't be determined as of yet, particularly with the a shortage of a marketing connection plan. COMPETITIVE ANALYSIS
The product is exclusive, and there are not any known organization competitors that produce the exact same product nearby. Its best competitors will be retail observe brands and online resellers of wristwatches, while roundabout competitors might include hand crafted accessories such as clay bracelets and jewelry, and weaving loom band anklet bracelets. One particular competitor of Batik is yet another kind of band watch that is certainly sold in several shops including Girl Shoppe, with a price that varies from Php350-1000. The straps applied are made of household leather combined with classic charms and beads which match the bronze structures. Businesses that sell bracelet watches with woven straps are usually seen in other countries. Some of these let shipping throughout the Philippines in which products price Php 450- 1500.
As communications are limited to Fb and by word of mouth marketing, What makes the merchandise distinctive from other accessories is the fact it offers a functional watch withвЂЁa unique ornamental strap that highlights the sense of individual style. Straps are made of organic line fibers, which are safe pertaining to the skin. Clients are generally friends and acquaintances from the owner through social media. Nevertheless , there have been recommendations to third party customers as well as replicate purchases, which in turn shows potential for the product. SWOT ANALYSIS STRENGTHS
Bracelets watches involving decorative stiched straps while used in Batik are not prevalent in the Korea which makes the item unique and still have less competitors. Since this is an online business, the proprietor can take purchases and deliver products for the customers within a convenient method which prevents idle time at a physical store, as a result providing more hours to attend to other duties. Online businesses may also cut down expenses since they don't need to pay for store premises or rental areas, bills, and staffs. WEAK POINTS
The company is on their own run by the owner therefore it simply cannot produce very much products as of this moment. The president, Andrea, is additionally juggling her time with college essential she didn't cater to a larger group of customers yet. The marketplace might think of it as expensive in comparison to other band watches which can be mass produced. Some individuals prefer to search and make an effort items face-to-face before purchasing. Being an online business, customers might not have the chance to make an effort before buying a specific product.
Since, it is just a distinct, new and custom-made product, it includes the opportunity to get the attention in the masses. These types of designs can be chosen or provided by the customer according to the us and preferences (e. g personal watch, couple's watches, companionship watches, etc). Despite similar products being available internationally, it's the initially its kind to become produced and sold in the local market. The business enterprise is already primarily based online, therefore other online learning resources can also be applied aside from Facebook . com. The products can easily likewise be sold in...