Name
Arrow & Feather Mukalu
Two-by-Four
Little Willow
Is the first impression of the name strong?
7
7
5
5
Does it sound/look good?
8
7
5
4
Is it easy to read/pronounce?
9
6
9
9
Use it in multiple sentences, does it feel right?
4
6
4
5
Are quick associations positive? Does it have story appeal?
4
5
4
6
Does it relate to the primary benefits of the company?
3
5
4
7
Does it sound credible?
6
5
4
5
Can it work internationally?
5
4
3
6
YES
YES
NO
YES
Is it memorable?
4
5
4
5
How nervous does it make you?
8
4
7
7
Does it relate to your positioning or who you are?
3
7
4
4
Total
61
59
54
63
Is it registerable and protectable?
Business details Products/services: Mukalu is an emerging jewellery brand specialising in handmade wooden jewellery pieces. The pieces include wooden earrings and necklaces, which wil eventually extend to bracelets. There are currently two different ranges; one range is plain wooden jewellery and the other is pastel painted jewellery. These products will have limited lruns of each products to keep the uniqueness of Mukalu. Registration details Business name: Mukalu Trading name(s): Mukalu Jewellery Date registered: 17 May 2014 Location(s) registered: Queensland Business structure: Sole trader ABN: 23637210491 Domain names: www.mukalu.com.au
Products/services Product/service
Description
Price
Earrings
Circle earrings, half painted pastel colours
$15.00
Earrings
Diamond earrings and square earrings, half painted
$15.00
Necklaces
Statement necklaces
$40
Market position: My products fit into the competitive market. There are currently a lot of jewellery products that are made with wood who are selling their products at a lot higher price. The different with Mukalu is that these pieces are statement pieces to add boldness and individuality to an outfit. Unique selling position: My products will succeed with the market with my knowledge and studies of marketing at university. My products are unique in all aspects including product design, photo styling and graphic design and branding. Consistency is the key when trying to attain customers so updating social media and having a range of different photos, e.g. product shots, fan shots, product making process the make the brand more exciting for customers. Anticipated demand: My products consist of earrings and necklaces
Sustainability milestone
Target
Target date
Reduce paper consumption
20% reduction
10/2014
The Market Customer demographics: Mukalu’s target market are females aged 16-30 years old. These females will generally have an interest in statement pieces and an interest in fashion. This demographic could be considered ‘hipsters’ who are interested in current and unique trends. Buyers and stylists could also be a minor demographic. Key customers: My key customers are my customer demographics, as in the above statement, they are females aged 16 – 30 years old. I will target my products by using social media. I plan to create a website, shopping cart, Instagram, Facebook and Tumblr page. These pages will include final products, progress shots, videos, competitions, etc. Customer management: I plan on maintaining a good relationship with my customers by answering any questions and concerns and replying to them as soon as possible, continuous posting of photos and updates to social media sites, follow up emails and create a mailing list. I will maintain and gain new customers by providing excellent customer service standards.
S.W.O.T. analysis Strengths
Weaknesses
• Unique pieces • Handmade/one of a kind • One on one interaction with customers • New, innovative service • Location of business — online and market stalls
• Higher cost • Limited runs of each product • Products not sold in actual store • Sole trader
Opportunities
Threats
• Build on customer and brand loyalty • Expand business • Moving into new market segments • Fast market growth • Opportunity to sell in store • Collaboration
• • • • •
Cheaper, simiar prices New competitors New to market Slow growth Growing competitive pressure • exposure
www.mukalu.com.au
Online Presence