•What is the Problem ?
We have looked forward to solving the problem of
Ø Women who have to apply a lot of strength in stirring food.
Ø The elders who aren’t able to apply force due to weakness can cook easily using this product.
Ø With the use of the product people can do multiple tasks at a time.
Ø It solves the basic problems of people working at bakery and sweet shop on a large scale.
Ø Even by giving less attention and effort it stirs the food easily.
Target Customers
caterers
people engaged in dairy business
and restaurants serving massive umber of people
•Innovative Product Solution
We are making a product
called ‘SPINIX’ that will solve
this problem. It helps in
multiply tasking as it saves
time and energy. It is a
product that gives the
movement to the food being
cooked and doesn’t require
efforts.
•Customer Feedback
•Business Plan
Team Members: 1)Janhavi Rathod
2)Hemanshi Baria
3)Aayushi Shah
4)Surbhi Adesara
5)Dishita Desai
Q.1 What Problem are you solving?
The products that we have made helps to solve the problems of :-
⦁ It solves the basic problems of people working at bakery and sweet shop on a large scale.
⦁ Even by giving less attention and effort it stirs the food easily.
⦁ With the use of the product people can do multiple tasks at a time.
⦁ It will help caterers to make things faster than ever with less staff. Also the machine can chop and make gravy, like of tomato.
⦁ Dairy shop can also use it for like converting the cream into ghee which needs a lot of stirring.
⦁ Restaurant can use this to make the food items and do other tasks when it happens because in restaurant they have to prepare food fast.
Q.2 What is your innovative idea? What makes it unique?
⦁ It will work on gas without any problem.
⦁ It is easily adjustable from vessel to vessel.
⦁ The timer notifies the person when the task is completed
⦁ The consumer does not have to engage himself/herself while the product is being used he/she just have to fix it and remove it.
⦁ It is customized product that can be used for large scale and medium scale production.
⦁ It also chops vegetables and can turn them into gravy, example tomato.
Q.3 Who is your largest audience?
Our largest audience will be :-
⦁ Dairy Shops
⦁ Sweet Shops
⦁ Caterers
⦁ Bakery Shops(e.g. who can make cake barter)
Q.4 Who are your direct/indirect competition?
Though the product is new in the market ,some of the blender and mixer companies can be our competitors.
Blender manufacturing companies such as :-
⦁ Phillips
⦁ Bajaj
⦁ Panasonic
⦁ Godrej
Mixer manufacturing companies such as :-
⦁ Wonderchef
⦁ Crompton
⦁ Phillips
Q.5 How will you reach your target audience? What would be your marketing activities?
The sources to reach our targeted customers are :-
⦁ Posters
⦁ Newspapers
⦁ Radio
⦁ Television
⦁ Hoardings
⦁ Social Media
⦁ Sales promotions
Q.6 a.) At what price will you be selling the product? b.) How did you arrive at this cost? c.) What will be your margin of profits?
We are selling the product at rupees 6,500. We arrived at the cost by keeping in mind the manufacturing cost and labour work. Also keeping in mind the target customer. Our total profit margin is 15%.
Q.7 How many units will you produce & expect to sale in year 1,2 and 3? Have you done any demand analysis?
We will manufacture 250 units in 1st year.
We will look forward to the number of the sold units in the 1st year , and decide about the coming years. Mainly we will manufacture the same number of units for first 5 years.
Q.8 If you have to start this business, how much fund you will require? Please show the cash flow projections?
Start up cost : Prototype- Rs.5525
Printing[Marketing]- Rs.1000
Transport[Fuel]- Rs.1000
Clothing[Dress code]- Rs.10,000
MRP. 6,500
Inflow :-
Product income- Cash/Credit/EMI [Cash Discount]
Outflow :-
Supplies of raw materials
Labour
Payments - DD/Cheque/Cash
Yearly Manufacturing :-
250 units/year
30 people for production
5 people for management