Marketing project: Starting a New Business

Brand Name: TECHOLLET

Class: BBA 3C
Group Members:
Submission Deadline: 19-12-2016

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 Table of Contents

Contents

Summary --------------------------------------------------------------------pg: 3

Company’s Introduction ------------------------------------------------------------pg: 5

Idea-------------------------------------------------------------------------------pg: 4

Research------------------------------------------------------------------------pg: 6

Target market -------------------------------------------------------------------pg: 6

Design----------------------------------------------------------------------------pg: 7-8 9

SWOT analysis ------------------------------------------------------------------pg: 8-9

Price---------------------------------------------------------------------------------pg: 9

Product description-------------------------------------------------------------pg: 9-10

Promotion mix -----------------------------------------------------------------pg: 10

When to launch-------------------------------------------------------------------pg: 11

Pricing strategy ------------------------------------------------------------------pg: 11

Budgeting -------------------------------------------------------------------------pg: 12

Expansion plan ---------------------------------------------------------------------pg: 12

Conclusion---------------------------------------------------------------------------pg: 13

Advertisement--------------------------------------------------------------------------pg: 14

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 Summary
We all know that sense of panic when we realize that our wallet or purse is missing. Half
of your life is in your wallet. Credit cards, debit cards, ID, insurance cards, money — you
name it, it’s in there. And if it falls into the wrong hands, it could be devastating. The
least that can happen is you lose a little money. But you could be the victim of identity
theft and fraud that could have repercussions for years.

Money in the 21st century will surely prove to be as different from the money of the
current century as our money is from that of the previous century. Credits will become
the dominant payment modes, creating the potential for private money to compete with
government-issued currencies”

But how are these brand-new forms of payment secure?

There are some of the tough questions to answer but here’s a solution, which provides a
form of security to these modes of currency exchange.

The answer is no living in this era it is very difficult to make your Wallet secured and
tracks them.

Moreover we are living in so much influential society that at times we our self misplaces
the most important thing we carry that can proved to be dangerous.

But no more the solution is here Technollet!

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Company’s Introduction
TECHNOLLET introduced here uses the biometric technology for the first time ever has
GPS and Finger Print recognition. TECHNOLLET is a form of wallet. Every time the
user wants to access the TECHNOLLET he/she has to make impression of his/her fingers
which will be scanned and matched with the one in hard disk of data base server. If the
finger print matches with the user’s he will be allowed to access and use the wallet
otherwise it will be not accessible. Along with this security now your can tract your
belongings.

Vision Statement:
“Our Security, Your fashion wallet”

Slogan:
"Security has now become stylish with technology"

Mission Statement:
Technollet is the Pakistan based designer and secured accessories and wallet. The
company’s heritage is rooted in producing polished, sleek, sophisticated wallet with
today’s modern technology. Our products are of the highest standard of quality, and with
first the idea of tracking and security. Our lifestyle-driven company embraces the highest
standards of creativity, quality and technology. Something that you want is now in your
hand that and at best prices and ranges.

Idea and Research:

Idea: This idea was first introduced by a group member then when we practically started
to examine people and talked about many of them had been through it and by this idea we
can to know two conclusions ;

1. Mishaps happen every where but women would not want anyone to check the
personal belonging and how much amount she carries. They preferred a finger
print on their wallets.

2. Secondly male gender is always in hurry and burden with responsibilities he is

most likely to forget these types of things so they wished to have GPS.

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Research:

Market Segmentation:
The market of our product we analyzed was 22+ or working personals that go out and
interact with people they can be a student doing his/her internship, a teacher , a
businessman , banker etc.

Moreover a person involved in practical job who carries a wallet!

Method:

2. Interacting with people and interviewing.

Outcomes:
After the primary and secondary research we came up to a conclusion that 99% people
considered it a Good idea.

People are willing to pay from 7000PKR to 12000PKR for this type of particular product.

Mostly female preferred finger print and male preferred GPS and most of them found
technology and fashion a great combination.

Targeting Market:
The target market for this product is middle class and upper middle class. Other than that
working man and working woman, also those people who live in dangerous areas and
there is lot rate of theft and can afford them.

This product is also for those who forget things quickly.

Design

Logo:

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Features:

 Fingerprint Security
Techno Wallet’s proprietary fingerprint security system unlocks for only one
fingerprint… Yours.

 RF Shielding
Wallet helps protect your Credit Cards from being read by many types of RF
devices in public spaces.

 Durable Construction
uses that material which secures your cash & credit cards with the strength of
Space-Age materials.

 Avoids the insecure way of carrying money.

The present trend is full of theft and money. So in that case you would receive msg on
your mobile and your credit cards will be blocked immediately

 Provides strong security

As we know everybody has different finger prints so taking this into consideration
uses biometric technology to provide strong security.

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 Easy to carry
You can easily carry it into your pockets or bags

 Wallet has latest designs

 Avoids the nuisance of renewing

Once issued is permanent, as it doesn’t requires any kind of renovation.

 Customer service.

 You’ll be provided user

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SWOT ANALYSIS

Price:
Wello-shield: 11,999PKR
Track-ollet: 10,999PKR

Product:
The Technollet pvt Ltd has Launched 2 Products as its unique outstanding
innovation in wallets of this era.
Wello-shield: This creation is for female’s who want to stay as conservative as possible in
case of money they carry.
This product has an integrated Bio-metric system working On Your Fingerprint with a
Micro Solid-state Online Hard drive that connects your fingerprint as password to our
company’s database system which will allow u to access this wallet. In case of theft and
robbery if any intruder tries to breach this security with his/her fingerprint or any other
electronic tool the integrated system of this wallet will send an alarm to our main
computers that will automatically block ail your swap cards that is Debit card, Credit
card, National identity card on your behalf.

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Track-ollet: This creation is for male’s who are busy in their tough life. Who are always
in a hurry to reach their goals and running after their work and responsibilities they
usually have so many things in their daily life that they forget their little stuffs causing
them more trouble and tension I.E Car Keys, Glasses, Wallet etc.
so for those mans we have launched a wallet named “Track-ollet”.
This New Wallet has a GPS integrated Technology with best tracking secure network that
will allow u to track, listen, and even see where your missing wallet is with its
Microphone and A smart 4 megapixel Camera you are able to see where your wallet is by
just opening the Application named Technollets that will be provided to you for your
android, IOS, Kindle fire, BBOS and Windows Phone.

Promotion Mix:
Promotional mix -
appropriate balance of advertising through news channels, Movie channels
Public Relations: Sponsoring events and influential leader such case crime
officers advise them.
Sales promotion: Early Bird discount to first 1000 customers approx 30% off

Print Media strategy – reaching the target audience through print media
Bill boards.
News Paper Advertisement
Posters, pamphlets

Social Media strategy: reaching the target audience through social media.
Pages on Facebook
Tweets on Twitter
Social Advertisement on different sites
Place:
Geographically segmented
Main cities of Sindh like Karachi Hyderabad
Expansion: Main Cities of Punjab like Lahore, Islamabad later next in Dubai as it
is the shopping hub.

When to launch our product?

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We will launch it in market on April 22.It will be a day of Industrial revolution. The
Industrial Revolution brought such inventions as the power loom and the knitting
machine which made a vastly greater abundance of variety of clothing available to even
the poorest.

Where to launch:
As this idea is originated in Hyderabad and Pakistan so we will first of all launch in the
most nearest metropolitan city that is Karachi as there is highest crime rate in theft and
snatching. So the prime location will be dolmen mall Karachi.

Pricing strategy:
These two strategies would be used

 Market skimming

Setting a high price for a new product when a firm has a unique or highly
differentiated product with low price elasticity of demand. So we would market
skimming for our product.

 Psychological pricing would also be used.

 We could also use sale promotion at the time of launching the product that would
be buy one wallet and get 20% of on second one.

 Moreover we can give a couple offers like as in bundle offer with significant
discount.

Budgeting :
The Affordable Method
we have used this method because as we are a new company in market so we have no
such previous sales experience so we have sated a marketing budget that is optimum to
be afforded by our company nor to much neither to less.

 Sources of Funds and Initial investment:

Sources of funds and investment are first of all the capital we have that is we are
4person and our initial investment is 5lakh each so;

4*500,000=2million

Next are we can take bank loans as financing that are startup business loan?

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 We can look for investors that can make up the board of directors and finance the
brand.

Long term and expansion plans:

First of all launch an official website.

Long term plans are opening the outlet in Dubai as an international outlet it has most
number of tourists and is nearer to Pakistan.

We can launch other brands too by that this system is linked by Bluetooth to your wallet
and tractable on your phone.

We can launch these with new innovative designer collaboration wallet for elite class.

After wallets hand bag and laptop bags are the next product line.

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 Conclusion:
In conclusion, this new product that is going to be offered in market would be very
beneficial and solve many problems of the individuals and save their important data from
getting misused. Women and man both in society found this product and rated it very
good and were also there to invest in this Wallet.

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Advertisement

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