Section 2 - Product and Services
Introduction: The purpose of this section is to introduce the reader to the products and services you will be selling. In this section we will ask you to:
1. Provide a description of your products and services and their key features;
2. Describe your production process and any comparative advantages you may have;
3. Highlight any future plans you have to upgrade existing products or introduce new products and/or services.
TOPICS:
1. Key Features of the Products and Services:
Instruction: Why will customers buy your products and/or services instead of another company's? Explain what makes your products and/or services unique in the marketplace and how they will differ from those of your competitors.
Sample Answer:
Sanchit Shirts are specialized in manufacturing trendy shirts used for various occasions not only for men but also for women. While other shirt-manufacturing units in the region offer typical, none specialize in this area. With todays demanding customer market, it is extremely important to prepare good quality shirts. Our shirts will be unique in the market and special designed shirts will be available for festivals, ceremonies, etc. Our products and services will differ from our competitors in that Sanchit Shirts will offer variety of shirts for men as well as women. Too many shirt manufacturing companies produce typical shirts for men. Sanchit Shirts realizes that now a days working women also prefer wearing trendy shirts and will offer office wear shirts for women. Sanchit Shirts will also try to offer these variety of shirts at lowest rates.
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2. Description of Products and Services:
Instruction: Briefly describe the products and/or services that your business will be selling.
Sample Answer:
The primary types of shirts we will provide include casual shirts for daily use. The company has specialty of making exclusive office wear shirts. The company aims in making a wide variety of shirts useful for daily and festival use. Company also wishes to manufacture denim shirts which will be available in lowest rates.
Our services include the development of:
1. Market Feasibility Studies We develop market feasibility studies for businesses that want to market new products or technologies. Some of these companies are looking for government funding to commercialize the technology or product. Our market feasibility studies include a full assessment of potential markets, competitive analysis, and the financial viability of commercializing the product.
2. Business Plans We will develop full business plans for start up and existing businesses requiring financing, introducing new products, entering new markets, and restructuring.
3. Other Services Our other services will include operational reviews, strategic planning, and development of corporate re- engineering strategies.
4. Seminars and Workshops
We will offer seminars to small and medium sized businesses. The seminars will focus on key management issues for small and medium sized operators such as market analysis, product commercialization, how to write a business plan, marketing strategies, customer service etc. Attendance will vary but should average 20 to 30 people each.
The workshops will be developed to help small and medium sized businesses write business plans. This service is currently unavailable in the area. Workshops will be held in the evenings and on weekends making it easier for busy operators to attend.
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3. Production of Products and Services:
Instruction: Describe how your products and/or services will be produced. You may wish to highlight the resources used (both human resources and materials) and the process involved in the production of your products and services.
Sample Answer:
Initially the company will employ 10 employees to manufacture the product. More people will be employed as and when required.The administration and other management will be looked by the Proprietor. Within the next three years, full time consulting and administrative staff will be hired. Due to office space limitations dealers will work out of their own offices and will be linked directly to our office via e-mail and the Internet.
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4. Future Products and Services:
Instruction: Do you have any plans to update existing products or to offer new products and/or services in the next three to five years? If yes, provide a brief description of what you plan to do.
Sample Answer:
We will continually expand our products based on changing trends in fashion of shirts which will be used for specific occasions. The company also aims in getting feedback from the clients so that the new products manufactured will satisfy their demands.
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5.Comparative Advantages in Production:
Instruction: Is there anything about your production capabilities that may give you an advantage over your competition? For example, do you have specialized skills, new technology, access to cheaper materials, or low overhead costs? If nothing comes to mind, leave this question blank.
Sample Answer:
Our comparative advantages in production are our low overhead and labour costs. Company does not have to pay for under utilized staff or facilities. The dealers will be picked based on their expertise. This allows us to draw from a larger labour pool and skill set. Dealers will be hired, as needed which means that during down times our firm is not over staffed.
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