Business Plan Idc Interiors Aims essay

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[2: www.med.govt.nz/business/business.../structure-and-dynamics-2011.... ]

The primary research of the Auckland market presents the following sectors for consideration for the new venture:

The demographics in the target market include: college going and married women with children who either are working mothers or stay-at-home mothers; this makes the age group anywhere between 25 to 55; the overall annual income of the household is more than AUS $100,000; the property owned by the target individual is worth at least AUS $425,000; the targeted individuals will preferably be one that have interior design requirements for their office or residential space as well and are part of the corporate industry on a professional level that could include clubs, association, university groups, etc.

The psychographics for the chosen audience form Auckland will include the following aspects: priority for impeccable taste for home and office design; have creative outlooks on the world and have an active social life; are regular readers of one or more of the following magazines - Martha Stewart Living; Country Living; Home; House Beautiful; Elle Decor. The following chart and tables include the potential market trends in the targeted market in Auckland:

Market Analysis

Year 1

Year 2

Year 3

Year 4

Year 5

Potential Customers

Growth

CAGR

Country Club Women

12%

34,400

38,528

43,151

48,329

54,128

12.00%

Boomers in Transition

9%

12,000

13,080

14,257

15,540

16,939

9.00%

Professional Youngsters

8%

8,000

8,640

9,331

10,077

10,883

8.00%

Home Builders

5%

8,000

8,400

8,820

9,261

9,724

5.00%

Other

0%

0

0

0

0

0

0.00%

Total

10.09%

62,400

68,648

75,559

83,207

91,674

10.09%

Auckland reached to the 1.5 million populations in June. In 2011, there were 34 Aucklanders of every 100 people living in New Zealand (National, 2012)[footnoteRef:3]. Every office owner and adult person of these populations is IDC's goal. [3: http://www.stuff.co.nz/national/7783245/Auckland-population-headed-for-2-million]

Technical viability

Technology is managing risks for both enterprise and its customers from the first stage of settlement to the final stage of the arrangement (Grant, 2010). While it codifies each point of deal and shows the initial plan through the three-dimensional photos.

Delivery model:

There are two kinds of distribution channels in IDC: international channels and local channels. Heavy products are delivered by the Chinese company in three ways: DHL, EMS and China Post AIR MAIL. DHL offers shorter delivery within 5 to 7 working days. EMS rates of delivery within 7 to 15 days. AIR MAIL takes longer -- within 10 to 20 working days.

Another channel provided by IDC is local delivery, with employees' productions moved from the company to the customer's house. Local delivery is offered at a symbolic price, which is just the actual cost.

Operational Management Viability

The owner is the manager whose employs four foreign employees. They will be from countries that pay cheap wages, with temporary work visas that allow employees of a business to relocate to New Zealand (ENZ, 2012)[footnoteRef:4]. There are only four groups of labourers and each group has an ability to do a specific role: a tailor, a dye labourer, a gypsum worker and a driver. If there are many suppliers means no quantity discounts so the main supplier for IDC is a Chinese company manufactures the furniture and delivers them to the customer's addresses. Additionally, this supplier offering two services to the Interior Design Company: delivery and storage.Owner will contract with gypsum and pigment company that provide their products at a special price. Owner as a manager will contract with FranchiseCompany in New Zealand that offers consulting, accounting and franchise opportunities that will distinguish this venture from its competition. [4: http://www.enz.org/work-visa-new-zealand.html]

The essential activities of IDC are:colour scheme, kitchen, bathroom and laundry design, flooring finishes, lighting, window treatments, custom designed and pre-made furniture selection, space planning, accessorising and styling. Colour scheme is a consultation for both interior and exterior.Kitchen, bathroom and laundry design: manager suggests the best way to exploit each corner to serve customers and create wider spaces with a beautiful finish.Flooring finishes; this depends on their health and space, focusing more on what customers need or want.Lighting is a separate science affecting people's emotions.Window treatments are similar to lighting science, with the outside and inside views.Custom designed and pre-made furniture selection, this service is the hardest step, requiring consultant design, Chinese company equipment and labour time.Space planning, accessorising and styling refer to how to exploit spaces in the best way.

IDC services will be operated through following steps:Clients will decide how many services they want and how many meters of space they need.A study of their desires in consultation with multiformity catalogues. This will be supported by three-dimensional photos to visualise the final format (Gibbs, 2005).After the customer decides there are legislative contracts to ensure the rights of both sides and minimise the risk of inaccuracy. Contact with the Chinese company to define the order clearly and agree on the method and duration of delivery. Employees are allocated tasks pursuant to the customer's demands. The final step is the furniture arrangement in customer's houses or companies.

Target Market Segment Strategy

Our marketing plan will produce awareness, attention, and appeal from our particular market for what IDC Interiors provides its customers. The target customers are divided into four major segments; "Country Club Women," "Boomers in Transition," "Professional Youngsters," and "Home Builders." The main marketing chance is trading to these well distinct and easily reached target market distinctions that focus on spending optional income in these areas.

Strategy Implementation

Value Proposition

IDC Interiors provide the superior interior design knowledge for the home and office easily obtainable for those in the Auckland area. The idea is exceptional through the assortment of antiques, home accessories, and balancing products along with the interior design consulting knowledge.

Competitive Edge

IDC Interiors will be distinguished from other interior designers by the worth it provides in quality, oriented products not found throughout other designers or store choices, and through the outstanding service and help it offers. Customer's follow-through will be flawless. This distinctive and competitive edge influences the same established factors that showed higher achievement rates for these designing services.

Marketing Strategy

The marketing planning is based on developing IDC Interiors as the main source of option for people in utter need of interior design ideas and products. The more concerned "do-it-yourself" and the "buy-it-yourself" customers will find the offering and help important.

On the other end of the continuum, the "just-get-it-done" customer will find IDC will productively achieve precisely that. All customers will find IDC Interiors to be a productive and helpful resource to design their residences and offices in a way that is stimulating, attractive, and motivating.

Our marketing plan is based on greater performance in the following areas:

We provide exclusive consulting services and the product choices particularly chosen for each individual customer assignment. Overall excellence of the experience and the result combined with exceptional customer service and help regardless. This particular marketing plan will build responsiveness, attention and appeal for our target market through what IDC Interiors offers our customers. This will be developed and executed in a way that will attract them to repeat purchase or to come back and support them to refer friends and professional connections. Therefore, our customers will help in increasing our business not only by re-purchasing from us but also by spreading positive word-of-mouth.

Pricing Strategy

The prices of the products are based on contributing high value to our customers in comparison to others in the competition pool.

Value is assessed based on the most excellent design services that provide the customer with a "picture" of what the area will look like before the work begins, expediency and appropriateness in accomplishing the goal.

Promotion Strategy

The promotion plans will primarily centre on generating transfers. Other possible sources of promotion include the newspaper ads, television as they proven to be effective, then quarterly post cards as well.

Distribution Strategy

The main foundation of distribution is via the custom retail distribution channel. On a minor basis, it will be via the website which will include email queries and phone sales, or in a straight line from the site itself.

Financial Viability

Start-up Costs

Start-up

Requirements

Start-up Expenses

Legal

$500

Stationery etc.

$500

Brochures

$100

Consultants

$150

Insurance

$150

Samples and Reference Books

$200

Research and development

$800

Expensed equipment

$39,200

Other

$500

Total Start-up Expenses

$42,100

Start-up Assets

Cash Required

$9,780

Other Current Assets

$1,000

Long-term Assets

$3,000

Total Assets

$13,780

Total Requirements

$25,000

Cash Flow Anticipations:

Cash Flow Anticipations

1st Quarter

2nd Quarter

3rd Quarter

Cash Received

Cash from Operations

Cash Sales

$11,000

$10,900

$10,622

Cash from Receivables

$3,200

$3,200

$3,200

Subtotal Cash from Operations

$15,100

$18,000

$9,000

Additional Cash Received

Sales Tax, VAT, HST/GST Received

$0

$0

$0

New Current Borrowing

$0

$0

$0

New Other Liabilities (interest-free)

$0

$0

$0

New Long-term Liabilities

$0

$0

$0

Sales of Other Current Assets

$70

$80

$60

Sales of Long-term Assets

$0

$0

$0

New Investment Received

$0

$0…[continue]

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