Safety Vest Business Plan Canvas

ENCF BUSINESS PLAN – GROUP 5

The business plan is evaluated based on Business model canvas components.

[pic 1]

Key partners:

Raw material suppliers, Accessory and third party airbag cartridge and canister manufacturers are key external partners( Mugen Denko Ltd.) that can deliver value and trust.

Business alliances with Premium bike Biking Events tie-up

Manufacturers can be a strategic alliance. Raw material suppliers and dealers can be mapped with the key activities as well to optimise the operations

Sales representatives and Employees are necessary to build a buyer-seller relationship

The Research and Development team, Crash-test teams checking for impact resistance of the product would reduce risks of the value proposition.

Key Activities:

Key activities are critical tasks to fulfill the company’s business purpose. They are the main activities that the company would need to carry out in order to serve its value proposition, reach out to customer segments, enlarge the market share and generate long term streams of revenue.

The key activities will include continuous Research and Development, import of raw materials, product manufacturing, promotion and channel management.

Our company, being a product driven business, research and development would play a significant role to understand the needs of the customers and constantly augment the safety jacket. Crash testing and other quality checks would play a critical role at this stage.

Several parts and raw materials of premium quality would need to be imported prior to the manufacturing stage. Production would be done after studying the markets and analyzing the demand

Promotional activities and channel management would be the last tier of the activity chain.  

Key Resources:

Vest designers and tailors who are trained and available because of the strategic location of production facility.

Stitching machines, Other production and assembling units, material procurement department, Supporting functionality Employees, Collaborated partners, distribution channel partners , Research teams, promotion and distribution team.

Value proposition offered to customers:

[pic 2]

Step 1 - Consumer insights such as uncompromised safety along with convenience frames the need states of the target.

Step 2 - Product features include adjustable Velcro vest that fits firmly onto the body without getting deflected during impact or accident, Multiple Airbag cartridges and canisters for low cost replacement and better safety, Fast charging for universal batteries, Weatherproof lining to sustain extreme conditions.

Step 3 - Rational benefits that map product benefits to need are the vest Airbag positioning act as a shock buffering, stabilizing system, giving added protection to the neck, spine, collar bones, lower back, rib cage and vital organs. Even a fall for rider during minor accident will trigger the Airbag so cheaper replacement of cartridges and canisters falls under convenience along with light weight of vest that is under 1kg that can be used inside daily clothing or racing suites. Fast charge and usage of universal batteries give the rider option of carrying multiple charged batteries in case of travelling to remote or off-road locations. The vest is breathable with air flow pockets that does not let the rider get exhausted or feel tired.

Step 4 - Emotional benefits looks into the feeling riders get with convenience and ease of maintenance, also the trust established by the certification from various universal forums give the rider peace of mind. Felling safe and confident are the ultimate benefits a rider expects from a bike or safety gear.

Customer Segments:

Our customers include motorcyclist, horse riders, skiers and pilots. Our most important customers are bikers. Our target segment will be men in the age group of 18 years - 35 years with an income of more than 10 lakhs and who have passion for adventures.