The ring will need the following materials and technology in order for it to function and work properly. Prices on these materials will be updated once the right parts are found by our team.
Part count:
- POSITIONING STATEMENT
Mechatronix’ positioning statement states that we are specifically targeting the jewelry market. We want to target consumers of jewelry and technology. Their interests include fully customizable jewelry with smartphone options. Mechatronix is best at manufacturing the most unique jewelry products, as it includes advanced and futuristic technology to modify the certain products a user may want to purchase. Our services only offer purchasing, returning, exchanging, buying, selling, and trading jewelry products.
- PRICING STRATEGY
The pricing for the rings would not be expensive nor cheap either, we will make it affordable for teenagers or adults where they will not have to get loans or ask for money. We wanna make the price right and make sure we are getting much more profit than what we pay for to design these rings.
- SALES STRATEGY
We will have our product selling in outlet stores and online and have people going around the mall for kids and in the stores for the older people telling them how our product works and how they would like it. This would physically advertise our product so people may see how it looks like and try it out themselves.
- REVENUE STREAMS
Reviewing the money income that’s gained is important, keeping track of earnings and loss is important to note upon in our company so we see where the success grows and where we went wrong so we could approach these mistakes and correct them.
- SALES FORECAST
The sales would hopefully go as planned, but nothing is ever too sure, there could be a problem in shipments, rings going haywire or many more possible issues. We'd need to test our products in many different scenarios to ensure it works before selling this product.
- MILESTONES
Keeping track of development on any of these rings will help in case we ever need to go back and tweak out some issues or problems if we ever come across any. Recording dates, purchases, product count, etc would keep us organized in the long run.
- ASSUMPTIONS
This tactic would help us assume a possible outcome of planning for the business. Thinking helps us lead to thoughts on how the conclusion will turn out for our products. We would need to sit through meeting/conferences to discuss how it would work out, alternate ideas and back up plans so we're prepared.
- BREAK-EVEN ANALYSIS
This would be involving the costs of fixing the mechanical hardware and machines and the parts/ prototypes for new ideas to test out.
- PROJECTED PROFIT AND LOSS
Our main profit of income would be coming from the rings itself, they are designed to have compatible customization for colors, decals and adjustment. Also coming from the needed app required in order to adjust the ring settings. The loss would come from the repairs needed, complaints and money to manufacture more.
- PROJECTED CASH FLOW
Our “projected cash flow” will help us determine whether we’d have enough money to spend on equipment, upgrade production, invest into a new prototype idea for future products and many more. It’s important to take note of all the incomes earned and how much everything would cost.
- PROJECTED BALANCE SHEET
Lots of money would be needed in order to buy more leds, “rings sizing adjustments”, and for distributing them. Also for factory production equipment (machines) and much more.
- BUSINESS RATIOS
Our company's sales mean profit, all our sales we distribute online (excluding the loss in the shipping process) should increase each month by month since the more we sell, the more rings we can make. The more rings were able to make means the more we get to sale and make much profit, we propose listening to our audience so we know what they'd buy.
Mechatronix’ positioning statement states that we are specifically targeting the jewelry market. We want to target consumers of jewelry and technology. Their interests include fully customizable jewelry with smartphone options. Mechatronix is best at manufacturing the most unique jewelry products, as it includes advanced and futuristic technology to modify the certain products a user may want to purchase. Our services only offer purchasing, returning, exchanging, buying, selling, and trading jewelry products.
- PRICING STRATEGY
The pricing for the rings would not be expensive nor cheap either, we will make it affordable for teenagers or adults where they will not have to get loans or ask for money. We wanna make the price right and make sure we are getting much more profit than what we pay for to design these rings.
- SALES STRATEGY
We will have our product selling in outlet stores and online and have people going around the mall for kids and in the stores for the older people telling them how our product works and how they would like it. This would physically advertise our product so people may see how it looks like and try it out themselves.
- REVENUE STREAMS
Reviewing the money income that’s gained is important, keeping track of earnings and loss is important to note upon in our company so we see where the success grows and where we went wrong so we could approach these mistakes and correct them.
- SALES FORECAST
The sales would hopefully go as planned, but nothing is ever too sure, there could be a problem in shipments, rings going haywire or many more possible issues. We'd need to test our products in many different scenarios to ensure it works before selling this product.
- MILESTONES
Keeping track of development on any of these rings will help in case we ever need to go back and tweak out some issues or problems if we ever come across any. Recording dates, purchases, product count, etc would keep us organized in the long run.
- ASSUMPTIONS
This tactic would help us assume a possible outcome of planning for the business. Thinking helps us lead to thoughts on how the conclusion will turn out for our products. We would need to sit through meeting/conferences to discuss how it would work out, alternate ideas and back up plans so we're prepared.
- BREAK-EVEN ANALYSIS
This would be involving the costs of fixing the mechanical hardware and machines and the parts/ prototypes for new ideas to test out.
- PROJECTED PROFIT AND LOSS
Our main profit of income would be coming from the rings itself, they are designed to have compatible customization for colors, decals and adjustment. Also coming from the needed app required in order to adjust the ring settings. The loss would come from the repairs needed, complaints and money to manufacture more.
- PROJECTED CASH FLOW
Our “projected cash flow” will help us determine whether we’d have enough money to spend on equipment, upgrade production, invest into a new prototype idea for future products and many more. It’s important to take note of all the incomes earned and how much everything would cost.
- PROJECTED BALANCE SHEET
Lots of money would be needed in order to buy more leds, “rings sizing adjustments”, and for distributing them. Also for factory production equipment (machines) and much more.
- BUSINESS RATIOS
Our company's sales mean profit, all our sales we distribute online (excluding the loss in the shipping process) should increase each month by month since the more we sell, the more rings we can make. The more rings were able to make means the more we get to sale and make much profit, we propose listening to our audience so we know what they'd buy.