IT ENTREPRENEURSHIP

Kīhorudā

The business idea that I wish to conduct is to sell the DIY keychain named ‘Kihoruda’. There are several reason of why I choose keychain as my business idea. In fact, peoples tend to forget where they leave their key and always facing difficulties to find their key either in the bag or other places. To add on, they can’t even notice when they accidentally drop they key for sometimes. Hence, keychain is the best solution to prevent these situations from happening. On the other hand, people nowadays are desiring to have something that is different from others and so, a personalised keychain will definitely suits their needs. This DIY keychain have some different with those normal keychain. It is because those buyer can choose to add any accessories that they like at the keychain to make it becomes limited edition. For instance, they are able to add those accessories like letters from A to Z, tassel, bell and many more. In addition, the DIY keychain has a reasonable price that is affordable by everyone. This is because the price of the DIY keychain is based on the accessories that are added by customer. Different type of accessories will have different range of price.

The targeted customers for this DIY keychain are mainly UUM community, but I will also receive orders from the peoples outside UUM. By this way, it is able for me to expand my business throughout the world and at the same time increases the income of this business. There are 2 ways for customers to purchase the DIY keychain. Those customers can either place order through the website, Facebook, purchase directly from the physical booth at UUM or any other alternative way that can reach me. For UUM community, we offered free delivery service while those from other places, we will deliver the keychain to them by post.

In order to ensure that my sales will reach at least RM3000 in a month, several alternative will be taken. There are many event or festival hold in a year, so by taking advantage from this, I will keep updating the keychain accessories based on the event or festival. To add on, those accessories are only available for a limited time. By this way, it is able to attract more customer to purchase as novelty will actually catch their eyes and it is also a sure-fire way of increasing revenue. Since that my targeted customer is both UUM community and also outsiders, this will allows me to increase and widen my customer base that will lead to increasing of revenue indirectly. Moreover, make the best use of technology by participating in social media sites for the purpose of promoting my product is also able to increase my profit. It is due to the natural behaviour of shoppers where their buying decision can be easily influenced by the social media. So, by advertising through social media will be an ideal way of increasing my sales. The platform that are used to promote my products are mainly Facebook and BlogSpot. Last but not least, I will hold a sales from time to time. The sales will be hold in the type of “Promotion Package”. Customers are able to add more accessories with cheaper price where this will attract more customers for purchasing my product.