Ibn Battuta International 1 Page Business Plan
Overview
Ibn Battuta International has a clear business objective to develop, produce, promote and distribute Designer Lungi products. These products have been developed over 21 Months with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product. Whilst our existing products have been useful for testing the customer problem, new products are required to fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
Ibn Battuta International has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as we are solving the problem of making it more secure for people to wear the lungi. This is a critical issue for our selected target market of Bangladeshi/South Asian men.
The Value Proposition
Ibn Battuta International is uniquely positioned to deliver value to Bangladeshi/South Asian men. "Ibn Battuta International will produce innovative products that solve problems and are comfortable, fashionable, and affordable." In order to deliver on this value proposition, our product is design registered. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Designer Lungi market. We consider our key competitors to be: There's not many competitors as we have a unique product which is not in the market. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with There's not many competitors as we have a unique product which is not in the market by Unique design.
Key Strategies
Over the next 6 months our focus will be to Offer retailers an added incentive to stock our product.
Loyalty cards to customers
Appoint Sales manager and Sales rep
. This task will be undertaken in the context of our broader strategy to Launch the product in neighbouring countries. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: perfect the product and the right packaging launch it acquire 100 business customers
About this document
Designer Lungi Business Plan
This document was created by Abdul of Ibn Battuta International using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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