Business Concept Questionnaire

ASSIGNMENT ON
BUSINESS CONCEPT

SUBMITTED TO:
ASIF MEHMOOD

SUBMITTED BY:
IMRANUDAS@YAHOO.COM
ID: 9714
MBA 1ST SEMESTER

,

Business Concept Questionnaire
High-Tech Business

Area Question Your Answer

Purpose Describe the purpose of your The purpose of our business is to provide reliable
business. and cheaper mobile products and
accessories to our customers.

Motivation Why do you want to start this Our country is a developing day by day in
business? communication field so due to this the uses
of mobile and its accessories are
increasing.

Core What do you and your company Our company excels at providing the latest
Competencies excels at? mobiles, cheaper than other and most
reliable.
In what areas do you aspire to
be “best in the world”? We are the best in quality and guarantee of our
products

Target Customer Describe your ideal customer. Our ideal customer ranges from 18 to 40 years.
(For consumer markets, Our products are purchased by all the young and
describe the demographic of business personals.
the type of person to whom
In our counter the usage of mobile phone is very
you’ll sell. For business
high so we have targeted to sell our mobiles
markets, describe the ideal size
phones and accessories on whole sale at
company, and titles of the
market & with out whole sale in for ordinary
people who will buy and use
customers. Inshallah young and old people
your product.)
will use our products for their use.

Customer Setting your solution aside for a Our customers have the biggest problems of
Problem/Pain moment, describe the biggest reliability of mobile phones and they are
challenges, problems or pains searching for long battery life mobiles and
your ideal customer has. also want the mobile sets with WiFi and FM
radio.
How do these challenges or
problems relate to your We have solved there problems by providing
offering? them mobile phones with long battery life we
are providing mobiles sets which are built
with WiFI facility & FM radio also. For
example NOKIA N95 has both the facilities.

Describe Your What is your product or Our products are mobiles phones and their
Offering service? accessories.
How, specifically, does it We have solved our customer’s problems by
address the customer’s providing them cheaper mobile phones, and
problem or challenge? now, they do not need to import latest mobile
phones.

Market Trends What new and expected In market the trends are the usage of searching
developments are occurring in of new mobile with latest facility so we are the
this market that may represent first that will provide mobile phones equipped with

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High-Tech Business

disruptive changes, or new technologies so we offering new mobile
opportunities for new players products and cheaper mobiles phones. So
like your company? opportunity for our new brands will be high.
Although we are importing our brands but still
new models of phones will be available to our
customers.

What benefits do Describe the outcomes your Our customer will now archive new services for
you provide? customer achieves by using example our new brands have the facilities
your product/service. of WiFi internet and FM radio also
Example: “By using the iPod, And some of our brands have mobile TV also and
our customer will feel the joy of has up to 8 GB internal memory
having 1,000 songs in his or her
Now they do not need to buy digital camera
pocket and listening to them
because they can record their precious
wherever they are.”
moment up to 10 hours with high mega
pixels.

What is your What value someone expect to Our customer can trust on us because we have
value receive from doing business imported new verities of mobiles phones for
proposition? with you? them to use instead of that if they want to buy
these products they will spend more to import
Describe a specific customer
latest mobiles for there self.
situation. What incremental
value – benefits less costs -- We have also large verity of mobile phones of
should they expect from china which are have the best sound and
working with you instead of music qualities and lower price than other
others? (For business markets, brands which are available in market.
financial quantification is the
These brands have up to 6 months warranty and
norm. For consumer products,
have dual sim facility and also have FM
the value customers receive
radio and external memory of up to 2 GB.
may be financial or non-
financial. Non-financial value And the price of these ranges form 4 to 5
examples include increased thousands rupees.
security, health, status, a
renewed spirit, etc.)
Example: Financial: iPod
owners will save money by
being able to buy single songs
instead of entire CDs with only
one or two good songs on
them. The savings from 15-20
CDs effectively pays for the
iPod. Emotional: they will feel
“cool” by being like the people
in our inspirational ads, and
have more fun by hearing their
favorite music more often.”

Fit within supply Do you offer a “whole product” Yes we provide the whole product solution our
chain solution to fully address a customers seeks mobile phones with latest
customer pain, or a portion of technology so we have all the models and
the solution the customer sets and we have the accessories which the


High-Tech Business

seeks? customers are seeking.
Where do you fit with parts or We have a solution for our customers
solution components that the
Most of the wealthy people wants good quality,
customer may need?
And latest models so we will provide them NOKIA
Example: There are two major
sets which have latest models and
parts to our digital music
technology and we also have the accessories
system: The iPod device, and
which helps our customers to repair their
the iTunes music store. We will
mobile phones in the future.
partner with the major music
labels to provide content that And the spare parts of NOKIA sets are very
can be readily downloaded, at cheap.
$.99/song.

Competitive How are your ideal customers Most of customers are addressing the problem of
Position addressing their pain or high prices mobile phone and low reliability of
challenges today? mobile phones and high weight of sets.
Who else does your target Our targeted customers can solve their problem
customer seek out or pay to because now mostly they are seeking good
solve this problem? quality and reliable sets so they have to pay up to
10-15 thousands.
What market share do your
competitors have? What Our competitors has large share in market we will
strategy will you use to use the strategy of marketing plans and best
compete if they are larger and promotion of our product and to develop lower
better funded? prices in market which will win good will.
What will be your sustainable Our advantage will be that we will seek lower
competitive advantage? profit then them so as a result our customers will
increases rapidly.
Example: “Our primary
competition comes from We will introduce new verity of china mobile
existing MP3 players like phones which have the lowest prices ,
Creative and Diamond Rio, and
And we will have 6 months warranty.
potentially any new initiative
from major record labels.
Yahoo Music and Napster are
other distribution systems.”

Competitive Why should someone do Some one will do business with me because I will
Differentiation business with you instead of convince him about the development of IT
their next best alternative and communication and will understand him
(including “doing nothing”? about this business scope and profits.
Are there any benefits that you Yes I alone can provide them benefits because
alone can provide?
I will take the warranty as a result of that if an
Example: “Only iPod combines error occurred in the mobile equipment so
Apple design and usability with
I will repair or change it with a new ser as per
the iPod music store, providing
company rules.
a complete, legal digital music
solution.

Intellectual Are you using technology, Yes we are the authorized dealers of NOKIA and
Property Strategy processes or methods that can other China verities mobile phones.
be protected with patents,


High-Tech Business

licenses, trade secrets,
trademarks or copyrights?
Yes trade mark is provided to us by the NOKIA
Do you own the technology?
We have the certificate of that,
“We will use a proprietary file
We will use compress rates for our customers .
format with better compression
rates.”

Markets Who will you sell to: What We will sell our products to nation wide small
market segments will you phones mobile shops.
consider? Do you know which
We will pursue them by quality and low price.
ones you will pursue?
We have targeted up to 10000 customers
To what degree can you
describe the target market We have spent 15 million and the growth will be
segments in terms of # of 20% per annum.
customers, dollars spent, and
spending growth rates?
We will reach there by promotion of our product in
How will you reach the
these cities and by efficient marketing.
customers in those markets?
What do you expect the Different for different type of mobile sets .
average cost of sales to be to
sell your product?

Customers Who are your beta or existing Yes I have some existing customers I have no list
customers today – do you have but at least thousand.
a customer list? Are any of
Yes some of my customers are ready to talk with
them references, willing to talk
my investors by showing there satisfaction to
to prospective customers or
my investors.
investors?
Yes he has received the full value of proposition
Have any of these existing
of the solution that I have proposed
customers have received the
full value proposition of the We have provided them basic reliable and have
solution you propose to create/ all the latest technologies.
develop?

Management Who are the members of your Our team has 5 members ,Imran, Sadiq ,murad
Team team today? and Ayaz ali ,Attaullah….
What are the key skills this type Key skills are managing, financing, and
of business must have? Relate marketing. Imran have management skills
the experiences of your existing Sadiq have financing skills and Ayaz ali and
team to the needed skills for Murad both have marketing skills.
this business?
Among your team, who has
Among our team Imran is experience with solving
experience with solving this
the customer problems.
customer problem before?
Who has experience selling Ayaz ali has selling has experience in
competitive offerings to this competitive offering to the market.
market?
How many prospective
We have up to 2 thousand collective personals
customers are in your
and business networks with whom we have
management team’s collective


High-Tech Business

personal and business
networks – people that you
Have positive relation and Attaullah is our
have positive relationships with
collective personal.
today?
What team members do you
believe you need? We need all of 5 member to work with principles.

Accomplish- What are your team’s We have made accomplishment in a shot period
ments accomplishments to date? of 6 months by making up to 4000
customers.
What are your major, next near-
term planned achievements/ Our major, next near term planned achievement
goals? are to increase our customers now we have
only 4000. To increase our supply.
If you’re looking for outside
investors, are there milestones No we are not looking for outside investors ,
you plan to complete before
Our milestone is to reach to 10000 customers.
seeking investors?

Salaries What do you expect to pay for We all were committed not to get first 3 months
salaries and yourself during the pay after that we have paid 20 thousands per
“start-up” time period? months.
Are you prepared to operate for Yes I have already described that.
2-3 years without a salary?
Have you considered creative
Yes we all have saving accounts in Meezan
ways to reduce your need for a
bank,
salary? (e.g., savings, learn on
someone else’s dime, This helps us during the period without the Salary
consulting projects, move into a for the first three months.
relative’s home, do during
evenings/weekends while
working another job?).
Your salary will probably be one
of the greatest expenses of
your business; a penny saved We are looking for investor in our country
is an investment raised. It is To Whom we will give commission in our profits .
also more of the value of the
business you can keep for
yourself.

Expenses What are your major out-of- The expenses are about 10000 per months .
pocket expense items (e.g.,
rent, phones, computers,
equipment, website, legal
expenses?)
How much do you estimate
For three years it will be approximately 360000 rs
these will be for years 1-3?
For now, don’t belabor this –
just list the items off the top of
your head, for a “back of the
envelope” number.


High-Tech Business

Sales and Gross What are your planned revenue 100000 per month
Profits goals for the next three years?
Have to double the number of our customers in
How many customers per year the next 3 years.
will that require?
3100 customer per year it will require.
What would be the average
The total value of transaction value will be
contract or transaction value?
216000/Annum

Investment and If you need outside investment, If I need outside investments I will need 12 million
Investor Liquidity how much outside investment
do you think you need?
What else do you want from
prospective investors? What’s We will provide our investor return 31% on every
the strategy for providing the 6th month.
return to the investor?

That’s it! How did it go?
Quite nice I think , the questions were very interesting and practical.

Describe any insights that resulted from this exercise:
It gives me the main idea s how to start a business on a large scale.
What are the necessary steps before starting a new business?
What problems I can face before starting a new business.
What type of skill I will need before starting a new business
The whole procedure for establishing a new business.
How much capital is required before establishing a new business? Etc

Describe any specific actions you plan to take based on the results of this exercise:

In future after completing my MBA it will be easier for me to start this business
And I will apply all these steps in my future and will keep it in mind before establishing a
new business.


Business Concept Questionnaire

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Business Concept Questionnaire