Customized Bags and Badges Product

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- "Self Modifiable", the consumer can design by himself.

- One modified (as per choice) badge is coming complimentary with any type of bags

- Sharp colour and printing process.

- Badges having Round, Square and Triangular Shapes.

4. Situational Analysis

- Political & Legal Environment: Bangladesh has been going through a huge amount of political unrest since the beginning of 2014. Strikes have been a major cause in business loss. These could cause the business to have trouble in terms of distribution of goods and services.

Furthermore, problem with the legal environment in terms of low efficiency and bribing and such may create a hassle in terms of producing proper licensing for the established business.

- Economic Environment: The economy of Bangladesh has been flourishing recently. This means that customers would have more disposable income to spend on purchasing goods and services. However, due to slow business because of strikes, the economy may have suffered a loss and expenditure and purchase may be slow.

- Social & Cultural Environment: The culture inside NSU is open to new changes and customers are interested in changing trends and fashion. Societal trends encourage the usage of convenient and fashionable goods, hence Mn8 goods would flourish here.

- Technological Environment: The technological advancements in machinery creation and production has allowed several companies to become more efficient. Furthermore, technological access to social media would enable a further reach to customers.

5. Market Research & Analysis

- Research Objectives

Research would be carried out in order to find out the following:

- Demographic research: Customer age group, income level, etc

- Psychographic research: What customers are looking for, priority amongst design, type, quality, etc.

- Sources of Information: All data would be collected from both primary and secondary sources.

- The market research would mostly be carried out using secondary data collection, i.e. using sources that have already carried out the research e.g. existing online stores that has carried out their surveys, existing stores’ statistics, etc. However, in order to collect data more specifically targeted to the NSU consumer pool, the following primary data collection methods can be used:

- Online surveys

- Questionnaires

- Personal observation

- The information would then be collected and tabulated in order to assess the key customer priorities. Production plans shall be made accordingly.

- After the first financial quarter, customer feedback shall be taken through the same methods and then changes would be made specific to the customer suggestions and preferences.

6. Market Description

Size of the Market:

Our business market is the whole NSU campus that consists of around 30,000 students and 750 faculties. The university has four major schools - School of Business & Economics, School of Engineering & Physical Science, School of Humanities &Social Science and School of Health & Life Science. Under these schools NSU offers Bachelor’s and Master’s degrees in 29 subjects. A large number of students are involved in club activities and many events. The university also has a numerous number of cleaners and security staffs.

Description of Potential Segments

We can segment the market using the demographic, psychographic or behavioral process of segmentation. As NSU runs a world class undergraduate and graduate program, there are a large number of people from different religions, lifestyles and personality.

As for the demographic segmentation, there is a differentiation in age, gender, income, occupation, religion and nationality. There are students and faculties of different ages. The students who have just enrolled for the under graduate program fall under the age group of 19-20 years. But the students who are studying for the post-graduation course are from the age group of 25-30. The age of the faculty members vary from a young age group (26-30) to a middle age group (30-45) to an old age group (50+).

Then, there is a difference in gender and income. The faculty members are highly paid, so they have a good income. The students from the higher class family have a good amount of pocket money. The students from the middle class family have a limited amount of pocket money.

There are students and faculties from different religions and nationality. They have different choice for different things. We can find people from all the religious in this campus. There are Muslims, Hindus, Christians, Buddhists and other indigenous people who lead different lifestyles.

Type of Segmentations

We are considering most of the characteristics of demographic and psychographic segmentation for our Bag & Badges marketing. But we can separate the segments into two main types. One is the students of NSU and the other one is the faculty members of NSU.

Segments Selected for Targeting

For now, the business should concentrate on the students segment of NSU as it is larger and would bring about more profits. With the estimated consumer number of around 30,000 students, where we can have a great opportunity for earning profit.

Needs and Wants of the Segments

We have mainly two types of segments, one is the students and the other is the faculty members NSU.

There are different types of students in the NSU campus. They are different in their age, in their lifestyles, in their personalities and in their choices. But most of the students prefer some unique characteristics to their accessory products. They prefer good quality, good design and also reasonable price. They prefer good color combination. They also prefer good warranty/guarantee services.

The students prefer different type of bags for different type of uses. For example, they prefer a well-designed athletic bag for carrying their sports equipment, a good quality