Final Report ELM
Final Report ELM
SPRING 2022
SUBMITTED BY:
Intellectual Resources:
Financial Resources:
Unmovable Resources:
An empty office.
Empty room in house which can be used to stock products.
Other Resources:
Problems/Gaps/ Opportunities
1. The major target audience for customized phone covers is the people of age between 15-25
years and these people has a variety of different tastes and choices and the market offers only
specific designs because retailers cannot stock thousands of different designs for a large range
of different mobile phones because it will become highly capital intensive and also there will
be high risk of dead stock.
2. Market provides wide range of covers and different designs for mobile phone models which
are very common such as all iPhone models and other flagship models of Samsung, oppo etc.,
but the fact is that are thousands of different mobile phones but retailers don’t stock covers
for these phones because their sales are very low and is a risky investment which is why
customers and such mobile holders find difficult to fulfill their desire of trendy mobile covers.
3. The rapid change in the way businesses is being conducted specially after the covid lockdown
where hundreds of online startups have emerged so people and specially youth has become
comfortable and addicted to online shopping which is a great opportunity for a model of
business like us because customer has the freedom of choosing the design online through our
page and getting it delivered to their place.
1. The solutions for problem 1 is that we will be coming with new designs every week and we
will be doing this by coming up with designs which reflect and relate common trends such as
for example when there is a certain hype of any movie or web series such as Money heist so
we can come up with those designs, our business will focus on the current affairs and trends
of social media and create designs based on it and that’s what these target audience of age 15-
25 wants.
2. The solution for problem 2 is that because we are not any physical store rather we have an
online store so we don’t need to stock any covers , customer will choose the design and then
we will print it for the customer and deliver, it’s a kind of make to order supply chain, our
team will work on finding suppliers who have stock of all the mobile phone covers which are
known as basic jelly covers on which then further printing is done, we will be finding and
connecting with those suppliers who can provide jellies for any mobile phone on the planet so
that we can cater each and every customer and not just the ones with highly common mobile
phones.
3. we have availed this opportunity and will be starting an online store and based on our
business model our initial investment will be minimal because there will be no cost of
stocking goods or any physical store rather, we will just need to spend on our marketing.
CUSTOMER PROFILING:
Value Map
Gain creators –
We will provide customization in products by designing unique and trendy designs for
cases and also, we will allow our customers to provide us the idea of the design they want
and we can then design that cover according to what they want. We will assure and check
the quality of raw material used in our products to make sure the case is protective
enough and fits well on all the different phone models.
Pain relievers –
We will provide phone covers for all the mobile phones in the market, usually businesses
do not have all the mobile phone covers with them but we arrange and design covers for
mobile phones which models are not easily available in market, our model is to sell
products on amazon which is a well known and trusted retailer which is why us after sales
service and delivery timing will never disappoint customers. We will make sure that each
phone cover goes through our check-up before delivery so that the print quality is
checked and up to the mark before the customer receives it.
Our products will be the one which prioritizes quality and trendy designs through which customer
can reflect their personality, choices and likes. Also, we will allow them to write different quotes
through which they can reflect their ideology. More over we will be providing phone covers in
different materials such as jelly covers , hard covers, silicon covers, and there will be more
variants in these covers according to different side borders such as gold borders which gives a
look of gold plated covers, the service includes quick responsive customer service in terms of
replying to customers regarding their questions because the purchase process of these products
involves some customer questions which must be answered first in order to satisfy them , we aim
to provide quick response in terms of customer queries, moreover we have chosen the
marketplace of Amazon which is well known for its amazing customer service in terms of
delivery timing and after sales service such as returns and refunds.
The final business idea is to provide customers the freedom to choose and create the design they want
on their phone covers, our online page will list some great designs which will be made by our team
based on minimalistic and other quirky based designs, similarly on the other hand we allow our
customers to suggest us or guide us on how they want their designs to be, for example some
customers like printing their names on covers , so we will response them quickly and show some
options of how their name could be printed in different fonts and different styles and different
languages such as Urdu and English mainly. Moreover, there is a market segment which does not like
or prefer different colorful prints on mobile covers and they prefer a cover which protects their phone
so we will be listing these covers too on our page. There is a wide range of variants in mobile covers
and we will be listing every type of cover which is available in market and save the customer from the
painful experience of going to the market and searching for their desired phone cover.
Option 1: CASIFY
Option 2: CASEING
The final name which we selected for our brand is CASEING, the reason behind this is that first of all
we opted for the word casify but then we couldn’t find the domain for it then we started thinking of
some other name and we thought of some names which customer frequently use for mobile covers
and that is “Casing” , people use the word casing whenever they go to a shop for example “I want a
good and protective casing for my phone” , so this is how we thought that this word would be more
relatable with our consumer and we also found the domain for it.
Logo:
Color Palette:
Red is a hit color we have used it because it shows passion and love while blue is associated with red
like fire and water. While blue is also a color of ocean and sky: it symbolizes inspiration and stability.
Core Product and Features Linked with it:
Our core product is to offer customized designs and prints on mobile phone covers, the features linked
with our product are:
My Case Importance to
Factor Strength Weakness Flex
Startup/Product/Service company Customer
Mobile phone covers Wide range of Raw material Stylish, smart Super thin Trendy designs
customizable covers quality and and functional iPhone cases with
for all phone models late deliveries phone covers and customization,
Products customizable good quality and
android and fast delivery
iPhone covers
Premium Justifiable price for Some design Low to medium Medium Reasonable and
the good we deliver printed costly affordable price
Price leaving low
profit margin
Best Quality will be Some brand Excellent Good Great fitting and
Quality
delivered as it was having printing
My Case Importance to
Factor Strength Weakness Flex
Startup/Product/Service company Customer
shown different
quality based
on prices
More than others Water resistance - Excellent Excellent Print quality not
Reliability get fade after some
time
Less than other brands Support for long Customer Good stability Good stability Every customer
term switch to wants a stable
Stability another brand brand for long term
shopping
Extraordinary high Reputation as a good Not a well- High Very high Customer is
quality brand with established attracted towards
Company reasonable prices brand to brand recognition
Reputation provide luxury
vibes
Social media platform, Easy to buy Low aesthetic Social media and Social media In this era
amazon and website may lead to a well-designed customer attracted
Appearance bad impression website toward aesthetic
and presentation
Ecommerce store and online It required less time Order Social media Social media Customer wants
stores to purchase a misplacement platforms and platforms both online and
Sales product rather than or late delivers website physical store for
Method visiting a physical would leave a satisfaction and
store bad impression better customer
service
7 days money back guarantee Checking period Credit policy Excellent Excellent Customer wants
Credit
leave a good didn’t work if good aftermarket
Policies
impression and the product got service to have a
satisfaction damage or feel of customer
My Case Importance to
Factor Strength Weakness Flex
Startup/Product/Service company Customer
misused care.
Social media platforms, Good conversion Low capital Social media Social media Important as the
websites, and public relations rate if recommended will result in a platforms and platforms online stream is the
by a trustworthy low marketing websites main channel
Advertising person budget causing nowadays
low reach to
audience
Great Better recall with Not as good as Good Good Customer want real
logo and good premium life images for
Image quality brands like better experience
caseology.
List of Vendors:
Business Model:
Our business model has 2 major sides, in our first business model we will be listing different designs
of mobile phone covers on our Instagram and Facebook page out of which customer can choose their
desired design and then we take details of their mobile phone and address and then we print that
particular print for them and deliver it to their address. In this model we don’t need to keep any
inventory because we print according to the customers order, secondly those phone covers which are
not printed we will list them on our Instagram page and whenever customer chooses it so our team
which will be handling the orders will purchase it from the market and deliver it to the customer and
for this too, we keep grace of 3 to 6 days so that we can arrange it and the customer is not lost.
The second model of our business focuses on selling on marketplace like Amazon, in this model we
will be printing certain designs which are popular and for the most common mobile phones such as
iPhone models and some Samsung models and then we will be shipping it to the Amazon warehouse
and will be selling these through our seller portal. The change in designs will be not very frequent in
this model because we will be stocking some specific printed covers in this which is why we will be
focusing on specific mobile phones so that we don’t face any dead inventory.
The USP of our business is that we will be allowing our customers to let us know what design they
want if they don’t like the designs we have listed on our page and then we will design according to
their instructions and show them and let them approve the design and then print on their specific
mobile phone. Whereas our competitors do not have this option and they keep putting new designs on
their page and customer has to choose from it but we let our customer to create every aspect of the
design according to their taste.
Revenue Model:
Our business will earn money through the sales of customized phone covers, customers will choose
the design and tell us their mobile phone model, we will be handling everything and get the design
printed and pack it and deliver it to the customer and charge a certain percentage on all the cost we
incurred.
Customer Analysis:
Demographics: There is no certain age limit of customers we target but the main chunk of our targeted
customers will be from the age of 15 to 25.
Geographic: The geographics of our customers will be the whole population of Pakistan because will
be delivering to places out of Karachi too. In the second model of our business in which we will be
selling on Amazon the geographic will be the population of United States.
Psychographics: The customers which we target are those people who’s needs and desires are not
satisfied easily and they want something new in every few times. These people are Tec savvy which is
why they are very concerned for the accessories they use for their mobile phones. Also, these people
like to express their personality through the things they wear and customizing designs on their mobile
phone cases will allow them to express their likes and choices and tastes.
Behavioral: The behavior of our customers is that they don’t want to compromise on their choices,
this means that they want exactly what they think in terms of design and quality which is why these
customers don’t think a lot before spending on such things and which is why this field is very much
profit oriented.
The customers we are targeting are those who are very much involved in the purchase process, it
means that they will take their time selecting the design and then they keep follow up on the order.
These are people who like to stay trendy and stay stylish which is why new designs urge their desire
and they keep purchasing again and again and also it gives their mobile phone a new look just like we
buy clothes for ourselves similarly they treat their mobile phones. These people are easy to find
because they are digitally connected with us through social media platforms.
Startup Analysis:
This startup of ours will use the money which our co-founders have in their savings which is around
0.3 million PKR and if the business needs money as it grows then we can borrow funds from our
family which is around 1 million PKR. Our business model in which we will be selling locally
through Instagram and Facebook will not be needing much investment because it is make to order
model but yes there will be cost of marketing such as influencer marketing, then there will be cost of
packaging, these are the costs in which we will need to invest and stuck our money, all other expenses
of this model will be catered when we receive the money from the customer. Whereas the second
model in which we sell on Amazon will be needing much money that this because in that we print
some inventory and ship to Amazon and all these will be taking some major amount of investment
such as mainly phone covers cost, then shipping cost, then storage cost and then marketing campaigns
cost to stay on the first page of Amazon. The skills set which our team consists is that one of the
partners is highly skilled and experienced in the field of designing and that will help us keep our
product unique and different and the other partner has firm knowledge of sourcing products and how
good and quality printing is done and will handle all the logistics too. Similarly, both the partners
have knowledge about how selling is done on Amazon and that we have acquired through different
online courses which we will now implement through our startup. The product which we are selling is
printed in Karachi only mainly in Saddar where different giants exist who print covers for various
businesses and the raw material which is the raw and basic cover is sourced from China and is hardly
made in Pakistan.
Collaborator Analysis:
The collaborator in our businesses our first of all our vendors which will be printing highly quality
covers for us, secondly, we will be collaborating with different logistics company who will be
delivering all over the different regions of Pakistan for us. Moreover, we will be paying different
influencers who will be promoting our products throughout the community which they have built on
different social media platforms.
The vehicles which we will be using for the awareness of our products is the Instagram ads because
we will be using the Instagram Business Model for our startup, we will be running Instagram ads in
the weekend because people tend to use Instagram more in the weekend and they have enough time to
purchase products peacefully in the weekend. Also one another major source of creating awareness
will be Influencer marketing in which we will search for such influencers which cater the age of
people we target and has a strong community and we then send such influencers sample of our
products and they then show it on their profile through Instagram stories and sometimes we will also
pay such influencers for such stories. We will take feedbacks from our customers when we will ask
them if they received the parcel or not and then we will showcase their product along with their
feedback on our Instagram stories, this will encourage other customers and will directly send us their
feedbacks without us asking for it, and we will also keep a note in our packaging that if they want to
get featured in our stories then send us their genuine feedbacks along with pics with their phone
covers. So, this is how we will take feedbacks. All of this conversation and communication will be
mainly done through Instagram which has a great and friendly business module.
Pricing Strategy:
The pricing strategy which we will be using is premium pricing because our brand will focus on
quality and never compromise on it which eventually incurs cost, also things which are highly priced
are perceived to be of great and premium quality. And also, we know through our research that there
is a large segment of customers who are willing to pay premium for such products.
Cost Structure:
Revenue Structure:
a) Team Members:
Ibrahim Saifuddin – Student of BBA at IOBM.
Ali Naqvi – Student of BBA at IOBM.
b) Role:
The role of Ibrahim in this business will be of handling all the orders and getting each
order ready, checking the quality of products, packing the product and then shipping
it.
The role of Ali Naqvi will be of designing new designs and keeping the Instagram
page posted with new designs, handling the marketing campaigns of our products and
customers feedbacks and complaints.
c) Why each member is important:
Both the members are important because both has different expertise and one quality
is not enough to build and establish a successful business, each member focuses on
their specific roles mentioned above which helps work getting done faster and more
efficiently.
d) SWOT Analysis of Members:
Each members strength helps us grow our businesses for example Ali has the strength
of working till late nights which helps him on working till late nights on the designs
because designing takes a lot of time and patience and Ali is very good at it, similarly
Ibrahim has strength of being from business background and has some basic business
acumen which helps him in dealing with all the vendors and negotiating prices with
them and getting work and deliveries very fast. Each member fulfills others
weaknesses for example Ali has a weakness of procrastination which is fulfilled by
Ibrahim because he handles all the deliveries and logistics and this department of
business cannot afford procrastination because it will eventually lead to loss of
business. This is a brief of team members strength and weaknesses.
e) Time Commitments:
We have identified that we will have to spend at least 2 hours daily of our time when
the business starts and if the business grows and orders are many then a time span of
4 to 6 hours daily.
f) Startups Goal:
The goal of our startup is to become one of the trending and top brands in mobile
phone covers niche in the local market and our mission is to achieve that every house
in Pakistan must have at least one phone cover in their house of CASEING.
g) Founders Agreement:
Our agreement is on the basis of 50-50 Percent share in equity and similarly in
sharing profit and loss.
h) Role of Early Hires:
We will be looking to hire someone when we at least get 50 orders per day and this
employee will be hired for the packaging of cases and then delivering it to the courier
service.
i) Hiring Key Management:
We will be hiring a management person when we will be getting 50 orders per day
and this person will manage all the communication with the customers regarding
address and mobile phone models and compiling the data in an excel sheet which can
be used to track orders.
We will be hiring an accountant when we receive 100 orders per day, and this person
will be handling accounts of the company which includes all the payables, receivables
of the company and also, he will handle the tax returns too.
j) Describe what you will look for in an investor:
We will be looking for an investor who just not invest his/her money in our business
but also supports us with investing his time by attending our meetings and using his
network to grow our business.
k) Describe what you will look for in a mentor:
We will be looking for a mentor which guides us at each step of our business but also
allows us to work on our terms and make decisions and let us make mistakes and
supports and helps us when we are in trouble.
l) Describe what you will tell the investors to convince them:
Investors are looking for safe and profitable investments, our business is highly
profitable in terms of profit margins and our model of business requires very less
amount of investment or working capital we will convince our investors by showing
them that even if we fail at making profit, we will never loose our capital and their
investment will be safe.
m) Describe what you will tell the mentors to convince them:
We will show our mentors how much passionate we are about this business and we
can go to any extent of hard work to achieve and earn our first penny.
TEAM CANVAS:
Prototypes: