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Business plan

First draft

Juhui Lee

Hoi Yan Jacqueline Choy

1. General Company Description

Has the thought of switching camera lens on a smartphone ever crossed your mind? Cameras that are used professionally for journalist or artists are capable to have the above mentioned function which provides better resolution and wide angle. Knowing that the iPhone 6s just came out last week, people get attention to camera for their phones, could this idea be found on this piece of state-of-the-art device? We are going to develop a “functional lens” for a smartphone

2. Products and Services

Millions of pictures uploaded on social media platform such as Facebook or Twitter reflect the phenomenon in which ‘selfies’ plays an important role when taking pictures. Selfies is a new term in this ever-changing world to describe the way of one individual take picture and it can be a photo of himself / herself or even a group of people within one selfie.

Apparently, selfie stick is one of the most popular gift ideas in 2015 as this new, light, inexpensive and portable accessory gives photographer a chance to practice selfie style picture taking with a wider angle that capture more details around it. Unfortunately, this innovative product has been banned by authorities around the world due to the fact that it could be a dangerous potential weapon causing public disorder. For example, Six-Flags announced in July of 2015 that selfie stick is prohibited for its use in this world’s largest cooperation’s theme park due to safety reason. Although selfie stick is not completely banned in this States, would it be interesting and worthwhile to propose a safer idea that is more feasible and universal?

Our postulation is that if an ordinary camera lens (Nikon or Canon) can be switched to accommodate different scenarios, smart phones cameras should also be equipped with an detachable extended “thing” as well. The “Functional Lens” which we introduce has a lot of functions that help smartphone users get better photos and selfie. For example, the lens has a multi-function that could zoom in and zoom out, which create a wider angle for a group photo. Also, people can design and customize the lens what they want to get functions.

3. Marketing Plan

Target would be all smartphone users. We will use television advertisements, radio ads, magazine ads, and social network advertisements.

4. Competitor

Kodak, Sony, Nikon, Canon. Whichever camera company that already have a camera lens for smartphones.

5. Financial Plan

Our project will take 6 months.

Sales forecast would be

Our return on investment

Wage and salary expenses

6. Pricing

7. Operational Plan