Summing Up Ecoloving.wordpress.com JinYoung Yook Jean Chu Jungrim Lee Chen Y Zhu

Products & Service Product & Service -Special recycled bag for young ladies in 20s Unique selling point 3J PLUS ZCompetitors/benchmark - Lower Price: about £5 - £25 - Design for young ladies - Used Various Materials - Modern and variety colour - Nahui Ollin - Frietag - MUJI - McCOTTON

Customer segment, Research and Value proposition Customer segment -Mainly women in their 20s Research Process -Field research at the university campus and high streets -Questionnaire -Interview -Developing persona Value proposition -Exploring design in recycled bags -Unique Design -Mixture of various materials -Affordability -Direcly being part of recycling move

Key activities, partners and resources Key activities Key partners - Designers, Online/offline shopping malls/stalls Key resources? PhysicalIntellectualHuman ResourceFinancial Ebay.com Amazon.com Facebook.com Fair and a car-boot sale 3J PLUS Z Eco-friendly product Recycled market Business strategy plan Marketing & Research Producing Cash Budget: £100 No guarantees Young Enterprise Share ProductionProblem & solutionNetwork - Designing & Making: High quality design by recycled materials - Delivery system: E-post - Gift & Notes to every prospect (egs. Voucher & Thank you card) Create unique design Produce high quality products Develop products for young ladies in 20s Understand payment and delivery system PayPal/ Credit card or debit card processed through the seller's Internet merchant account

Branding, Design Strategy and Channels Branding and Design Strategy Channels -Direct: Web sales + In- house sales -Indirect: Fair + A car-boot sale Strengths and weaknesses StrengthsWeaknesses - Unity of packaging by logo - New Design by new material -To demonstrate the character of company by logo and packaging - Easy delivery system - Productive capacity - Limitation of feasible design (EG. Backpack) - To seek specific materials LogoPackagingStyle & Products

Company policies: -Minimal based on eco-friendly concept -Equal contribution based on skills -Easy to join -Non-profit; profit donation to charity of choice -Return policy Legal considerations: -Financial transaction via online market place -Delivery system; accident/ insurance Intellectual Property

Cost Structure Virtually no expenditure due to recycling items, using internal resources Current Assets: £0.00 Current Liabilities: £ Expenditure: £ to Young Enterprise fee Product sale: £5.00 (20% VAT included) Pricing on Product Labor input and material used

Key Challenges/Solution Finding the right model: Young ladies in 20s Testing the model before a full-scale launch: Used prototyping and survey list Inducing the market to adopt the new model: creative recycled market through high quality design Continuously adapting the model in response to market feedback Managing uncertainty: To seek special materials and to develop production capacity Aligning old and new models: The balance of price and design style Focusing on the long term: To expend sort of products such as accessories

What would you have done differently? Taken more time in choosing member. Time allocation Design team creation Market research

The most Successful part of business Low start-up cost Cost maintenance – no expenditure Expand Recycled Market (To involve young generation into the ECO market) Development of Recycled Design Bringing fashion to environmentally conscious crowd Expansion of future customers for sustainable creativity

How did running a business prepare you for future entrepreneurship? Observation about solving the contemporary issues of our generation requires -Risk Analysis -External Environment -Storytelling -Prototyping Finding the component of new business model -How to adopt the new model The significance of business plan as an implementation guide The importance of collaboration and communication -Human Resource -Internal Environment -The management team