i uploaded a business already, read it and i am doing of proposal marketing analysis part and marking plan part, for the marking plan part, write more detail about how do we expand to more billboard
Executive Summary
We are the SmartCompany and we have designed the worlds smartest glasses. These smart glasses will replace your traditional sun and prescription glasses with its state of the art technology. Our frames and lens provide your typical uses such as blocking out the harmful rays of the sun and for near and far sighted users. But it does much more than that. Our smart glasses also have built in cameras and sensors, long battery life, GPS technology, LTE capability, and much more. Our special patented lens projects images directly on the glass which is only visible for the user. The world has smart phones, smart tablets, smart watches, and now smart glasses. SmartGlasses, this product will change the world.
Background
Our company was started in 2013 and we are based in San Francisco, CA. Our team includes computer, mechanical, software, and electrical engineers, financial analyst, design teams, marketing teams, and more. Our first pair of SmartGlasses was released in the fall of 2015 after years of planning, developing, and improving. We are proud to say that we have received a 98% approval rating from our customers. SmartCompany thrives to connect users to our products by providing the best quality product in the market. We have a support team that provides technical support and services so our customers do not feel alone. SmartCompany is determined to change the glasses industry by continuing to create amazing sun and prescription glasses for all users. SmartCompany is here to show the customers what they have been missing from their glasses.
Proposal
In order to increase production for the high volume of product request, we seek $1,500,000 for 10% stake in our company. Also, your investment is going to allow us to allow us for more advertisement so we can reach more users of all ages.
Market Analysis
The only product that exist in this market are Snap Chat glasses. These glasses sole purpose is to provide hands free recording for the social media platform. A similar product that was release years ago and failed was Google’s smart glasses. Google’s failed product was due to its invasive attachment and its high cost. The design flaws behind their product and minimal uses was not worth their investment for potential customers. SmartGlasses provides sensors that alert customers of dangers during driving, walking, or running. Our built in cameras allow users to record and snap photos by syncing their camera to their smart phones. SmartGlasses also has storage space that allows users to storage photos and videos, contacts, other media, etc., if the user doesn’t have their smartphone with them. Also, each model of SmartGlasses is equipted with GPS hardware, allowing users to navigate without the use of their smartphone. Lastly, some models have LTE capability, allowing uses to connect to the web directly from their glasses.
Benefits
It is estimated that roughly 75% of the adult population use some sort of vision correction, while 64% of those adults wear glasses. We project that as years go on, more people will require glasses for vision correction. That is not including people who wear sunglasses. Our target audience is all these users. Every two years, people who wear glasses are required to get their eyes retest every two years as vision tends to change every year. Our patented lens change the number of their prescription by simply using the SmartGlasses app on their smartphone. The application has a built in virtual optometrist that goes through your typical eye exam. After the exam, the lens automatically corrects itself to provide the user with the clearest vision. The lens also has images displayed on the glass such as incoming calls, messages, alerts, weather forecast, and more. No longer would users need to constantly pullout their phones in order to view their notifications. SmartGlasses are long term investments and do not need to be changed every two years.
Timeline
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Marketing Plan
We have taken advantage of free web based social media platforms to promote our products, such as YouTube, Facebook, Instagram, Snap Chat, Twitter, and Pinterest, to name a few. These platforms have reached a majority of our users. We have also partnered with users of these platforms that have a large following group, who have demo our product and give their reviews. Customer who have purchased from viewing these social media accounts have received a promo code for certain discounts, such as free shipping. We are beginning to create kiosk located in malls to help promote the product by allowing potential customers to try on and use the product. We would like to expand to more billboard and video advertisements to reach more customers.
Finance
Our products range from $450.00 to $2,500.00. This is your typical range for normal prescription and sunglasses. We provide a more affordable range of frames with two configurations of our SmartGlasses technology to more name brand products such as Gucci, Prada, and Versace. Depending on the brand, whether its sunglasses or prescription glasses, and the type of configuration, the cost will vary. The cost to manufacture our glasses is $150.00 to $1000.00. For example, if we sell our low end frames and configuration for prescription glasses, it will cost $150.00 to produce and we will sell it for $450.00, a profit of $300.00. The glasses will be a one-time cost. We will provide technical support for free over the phone or through chat using the smartphone app. Customers can pay monthly insurance at a low fix rate if they experience accidental damage to the product such as broken lens or frames. Each device comes with a limited one year warranty covering any manufacturing defects to the hardware, including frames and glasses.
Conclusion
As the glasses industry continues to grow with its users, so will SmartGlasses. SmartGlasses will replace your traditional pair of prescription or sunglasses such like the smartphone replaced your traditional cellphone and even landline, smart tablets replaced your traditional pen and paper, and smart watch replacing your traditional wrist watch. SmartGlasses will be a fashion icon but will also provide users with convenient ways of assisting you in your daily life, keep you connected with others, and keep you hands free when you are performing normal task. Help the SmartCompany get a pair of SmartGlasses for each person who needs prescription glasses, those who want to protect their eyes from the harmful rays, and those who want to complete their outfit by accessorizing with our glasses. With your investment, we can make our already popular product grow into the only pair of glasses you’ll ever need and want.