- The business plan: The proposed new business is in the field of furniture industry. In the furniture industry, the demand for wooden furniture is always strong in the market. Thus my new business is targeted to the marketing of superior quality wooden furniture with attractive stylish designs.
- Company details: The Company is named as Timberlane Furnitures Pvt. Ltd. and the location selected for the business is San Francisco.
- The logo of the Company:
- The stationery of the company:
- Timberlane Furnitures Private Limited
- San Francisco, USA_______________________
- Telephone No …………… Email id ……………….. Fax …..…………………
Business Card of Timberlane Furnitures
The company name should be capable of attracting the wooden furniture market as the name ‘Timberlane’ indicates the wooden content of the furniture product.
The logo of the business is framed by using the first letters of the words Timberlane and Furnitures. The specific presentation design of the name should act as a powerful brand logo of the business.
Written Summary of the product idea
- Product idea: The Company is targeting to supply domestic interior wooden furniture with high quality craft works attractive to the customers. The product must be made from high quality wooden materials having long lasting durability. The pricing policy for the product should be affordable as it is necessary to enter and attain customer base in the competing wooden furniture market.
- Company description: The location selected for the business is in San Francisco. There would be higher demand for wooden furniture products in the local market. The economical pricing of the product should be capable of getting profitable entry in the market.
- Demand for the product: The demand for the product in the market is adequate for growth and development of the industry. In the wooden furniture market, the price of the product is an important matter that influences the purchase decision. Thus the economical pricing strategy for the new product should be capable of creating higher demand for our branded products among the customers.
- Target customers: The targeted customers for the business are of middle and upper middle class house holds. Price is an important consideration for this target group while taking the purchase decision. Along with price consideration the targeted customers also tend to be more design sensitive. Thus, in case of attractive design and more interesting stylish products, they will be ready to pay premium price.
- Image and branding: Brand development is important for creating loyalty customers in the market. “When you start a new business, you need to create the quickest possible route to business success. A logo helps to create this by contributing to your businesses’ visibility, credibility, and memorability- three factors that will help your business to grow and achieve success.” (Ferree).
In the wooden furniture marketing, the company is intended to build a brand image of interior designed products with quality materials and economy pricing. In order to sustain the customers, along with product quality and economy pricing, better customer service also should be ensured. Therefore, the company is focusing on home delivery services to the customers to impress them.
Works Cited
Ferree, Erin. No Logo? Launching a Business without a Logo can Sabotage You. Allfreelogovectorlogo. 2009. Web.