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How it all began...
Inspiration appeared for Inside Out when I was distraught over the fact of getting rid of my throw pillows in order to match my new motif. I thought to myself, why don’t I just make new ones? So from that stemmed my line of reversible pillows, giving me versatility.
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Strives to bring comfort and beauty to any room in your humble abode.
COLOR PALETTE Neutral colors comprise the majority of the color palette with accents of bold colors. Simple and elegant patterns are used to create transitional, reversible pillow cases that match easily with any sofa. Hues of camel, matte black and smokey gray along with creme, white and khaki are ideally used as base colors. Metallics such as gold and silver make the pillow case pop, bringing a nice element to your living space.
PANTONE 85-6768
PANTONE 25-5708
PANTONE 35-1709
PANTONE 84-1258
PANTONE 45-4532
PANTONE 35-6717
PANTONE 19-9687
PANTONE 45-9564
PANTONE 45-6708
The neutral colors are meant to fit your needs and fit with any motif change. Creative minds are usually the most indecisive anyways!
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Here are just some of the many uses for your Inside Out throw pillows. (To the right) Chaise lounges, accent chairs, armchairs, dining chair, sofas, futons, beds. Go crazy in any room! For my product I have chosen a sunbrella fabric, one side patterned with black and creme and the other a solid creme color.
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DEMOGRAPHIC
Inside Out’s millenial couple seeks luxurious and sophisticated decor at a resonable price. In this new chapter in their lives they hope to entertain friends and family in their new cozy home. They appreciate the product for its versatility and its ability to offer two choices at once, allowing them to change their minds down the line.
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THE NEWLY WEDS
HOBBIES INCLUDE:
THEIR HUMBLE ABODE
Jake (30) & Stephanie (25) Live in Plantation, FL Jake is a realtor $60,000/yr Stephanie is a physical therapist $45,000/yr Jake drives a Ford Fusion Stephanie drives a Kia optima No kids Extra savings is dedicated to their new home & traveling
Traveling Walking their Great Dane Working out, running Riding bikes Going to the beach Entertaining in their new home Going out with friends Cooking & grilling
Modern & Elegant Clean & Simple Neutral color palette with bold accents Comfy & Cozy Large windows that provide natural light in all the rooms Hardwood floors
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Companies that solely focus on competition will ultimately die. Those that focus on value creation will thrive. -Edward de Bono
COMPETITORS
IKEA Ikea offers a multitude of pillow cases that fasten with a zipper. They have an advantage because of their price point starting at $6.99 for throw pillow covers. However, they are at a disadvantage because they don’t offer two options like my reversible pillow.
TARGET Target offers more patterned options as well as seasonal options for Christmas, Valentine’s Day, Thanksgiving & Halloween in comparison to Ikea. Target’s pillow cases do start at a higer price point ranging anywhere from $10-$25 due to the fact that they offer designer brands such as Nate Burkus.
HOMEGOODS Home Goods not only offers pillow covers but pillow inserts as well. This is an advantage simply because of convenience to the customer. They can plan their pillow based on the insert and covers offered all at once. However they don’t offer reversible pillow cases like Inside Out does.
S.W.O.T
STRENGTHS - unique product on the market - 2 options in 1 product - color palette fits within any motif - made from quality fabric - resonably priced - can be found in all bed, bath & beyonds (reaching a large audience & providing convenience)
Weaknesses - New to market - Not very knowledgable when it comes to manufacturing & distribtuion - My competitor Ikea offers the product for a cheaper price, however for poor quality and doesn’t offer the two options for patterns
Opportunities - can expand into other markets such as bedding - can collaborate with the slip cover companies in creating a package deal with a slip cover for your couch and in addition you receive 2 throw pillow covers to match - can collaborate with designers to create a luxury pillow cover line
Threats - Someone attempting to steal my idea or make a rendition of it - My competitors coming up with the relatively same idea for a better price. - Loyal customers of my competitors who may not want to switch over - Not having enough funds to market my product enough
ATLANTA INTERNATIONAL GIFT & HOME FURNISHINGS TRADE SHOW
Date of event: July 10th Time of event: 9a.m.-6p.m. Category: Home Accents & Home Furnishings Location: Atlanta, Georgia Trip: 4 Hour Drive from Savannah, Georgia Budget Truck Rental: $200 Cost of Gas: $100 Cost of Food: $40 Hotel: $95 at Crowne Plaza Hotel (12 miles away) Cost of Booth: $950 Promotional Materials: Business cards $100 Furniture to stage booth: $0 (from home) Ipad playing video on reversible covers $0 Standard Package with deposit: 2 draped tables, 2 folding chairs, 1 wastepaper basket, 2 undraped risers, Booth ID sign, Pre-show vacuuming, Atlanta’s Buyer’s Guide listing, free drayage to warehouse using AmericasMart Total Cost: $1485.00
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BOOTH MOCK UP
SPEC SHEET
20 x 20 pillow case that requires no fasteners such as zippers or buttons
COST & DISTRIBUTION
Material: Sunbrella Fabric Yardage: 1 yard $2.50 Labor costs to produce pillow: $0.50 Packing: Bag $0.30, tag in bag $0.30 Shipping Terms Cost Insurance Freight (CIF): $3.00 Delivered directly to Bed, Bath & Beyond Markup Percent: 100% Cost at Wholesale: $7.20 Cost at Retail: $14.40 or roughly $15.00