PROJECT REPORT BUSINESS ECONOMICS NEW PRODUCT EPIONE AND EPIONE PRO LAUNCHING AND SILICONZ MARKETING STRATEGY

Growing workforce, growing concern about employee health and well-being, rising obesity awareness, increasing number of workplace injury complaints globally are important drivers for the

FOREIGN TRADE UNIVERSITY SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS

…… ***……

PROJECT REPORT

BUSINESS ECONOMICS NEW PRODUCT EPIONE AND EPIONE PRO

LAUNCHING AND SILICONZ MARKETING STRATEGY

Group 4 - Case Study 1

Class: 2223).2

KTEE312(GD2-HK1-Lecturer: Dr Hoang Ngoc Thuan

Ha Noi,

Le Dam Nhi Linh

Dieu Hieu Minh

Vu Thu Ngan

2113550007

2112550025

2113550016

2113550017

2111510070

2111520070

2113550021

Complete assigned work well

Complete assigned work well

Complete assigned work well

Complete assigned work well

Complete assigned work well

Complete assigned work well

Complete assigned work well

Le Phuong

Quyen

Le Khanh Thu

Mai Ha Vy

TABLE OF CONTENTS

A.

RESEARCH 2

III.

Product 10

VII.

Budget 27

PROJECT REPORT: NEW PRODUCT EPIONE AND EPIONE PRO

LAUNCHING AND SILICONZ MARKETING STRATEGY

during long periods of sitting Nowadays, offices are choosing

ergonomic office chairs

over standard office chairs to make the workplace healthier, happier and improve

everyone's work productivity

Growing workforce, growing concern about employee health and well-being, rising

obesity awareness, increasing number of workplace injury

complaints globally are

important drivers for the growth of the ergonomic office chair market The outbreak of the

COVID-19 pandemic has had a partial negative impact on the

ergonomic office chair

market The government's enforcement of the shutdown restricted the movement of

consumers out, leading to the complete closure of the business and education sectors As a

result, the demand for office chairs has gradually decreased in these areas

The increased demand for office chairs in households as consumers are confined to their

homes leads to a shift towards remote working This shift in working conditions has

increased the demand for ergonomic office chairs as consumers want asuitable setup to

work long hours Consumers don't want the comfort and

over the world are entering the corporate sector leading to a

skyrocketing demand for

office chairs Ergonomic office chairs are an important piece of

furniture that supports

employees and helps improve work performance.High-altitude office chairs are hindering the growth of the office chair market asconsumers are in a dilemma of whether to invest or not to invest in tall chairs High-altitude

office chairs are forcing price-sensitive customers to decide to buy an ordinary low-

rise office chair Price-sensitive customers are willing to give up.Growing concern about employees' health and well-being is affecting their performance

at work Concerns about the health and well-being of employees are encouraging them

to look for alternatives Work chairs are gaining popularity among

employees, as the chair

has lumbar support and employees can work for hours sitting on it

comfortably

Although it is anticipated that the ergonomic chair market will grow, limitations

including range of motion limited high price are believed to hold

back its growth

Ergonomic chair market trend

their families if they feel its advantages Remote working became

popular and it is now

part of the daily routine of employees following the arrival of the

COVID-19 pandemic.− The evolution of the chair is expected to attract more

− Multi-channel strategy favors the growth of the ergonomic

office chair market

Customers are choosing more convenient forms of buying office chairs

by switching to

e-commerce purchases The lack of transparency of details and

inconsistent pricing are

influencing consumers to make purchasing decisions As the world is moving towards

digital business and almost all transactions take place on digital platforms It is an

opportunity for companies to interact with consumers who realize their desires A clear

message about product details and appropriate mention of price

without any hidden fees

will drive customers to purchase

The North American market is expected to record a significant

growth in the global

market, due to the increasing health consciousness of individuals in countries in this region

Source: Allied Market

Research

is expected to grow as people restore their office work as COVID

contagion fears ease

The office chair market is expected to gain an absolute $8.9 billion USD opportunity during

the 2022-2032 assessment period

- The Asia Pacific region market accounts for the highest share of

revenue and is expected

to maintain its dominant position over the forecast period The

- The North American market is expected to record a significant

growth in the global

market, due to the increasing individual health consciousness in

countries in this region

General statistics about Vietnam market in

2022

- Reported revenue of Ergonomic chairs on e-commerce platforms

reached more than 72

billion VND in 12 months and increased by more than 18.2% compared

to the last quarter

According to the market assessment, business shops can sell at popular prices from

1,000,000 VND to 4,000,000 VND The most distributed and best-selling Ergonomic Chair

brands are Sihoo, Xiaomi,

Herman Miller's ergonomic chair product lines are used by many

people, including big

businessmen, movie stars, etc As a high-end product line, Herman Miller not only meets

all the essentials of a set of ergonomic chairs, but also demonstrates the superiority of

product quality, high-quality materials, and elegant design

STRENGTH

- PRODUCT DESIGN:

+ Newly Remastered yet iconic design, helping users to sit in the correct posture

and most comfortable when sitting

+ The seat and back cushions are made of Herman Miller's

exclusive new Pellicle

breathable mesh, providing ideal comfort and air circulation.+

users "headaches" because Herman Miller's ergonomic chair

models are all very

good It is among the most expensive ergonomic chair models in the world

VND, which is quite "bitter"

The lifting and reclining system is quite inconvenient, you have

furniture and especially ergonomic chairs

GTChair ergonomic chair products are distributed in many countries around the world

and appeared in the Vietnam market in recent years GTChair ergonomicchair has many

different models and prominent among them are GTChair Ivino, GTChair Marrit, GTChair

Butterfly, STRENGTH PRODUCT DESIGN:- Sturdy

the seat position can be adjusted.

The design of the lever adjusts the parts right under the

armrest, easy to adjust

without bending over, extremely easy to operate

- PRICE: Many models in different price segments from 8-17 million for buyers to

choose the price that is suitable for the economy

WEAKNESS

- PRODUCT DESIGN:

+

+

Slide the backrest up/down a bit loose,

not too sure

The finish in some plastic details in contact with the mesh

new and modern designs with luxurious and classy style

Sihoo Chair office chair is a product manufactured on modern technology lines,

combined with advanced production techniques and international

Most models have a seat.

- Frame ABS plastic, quite sturdy but lower payload than

aluminum alloy frame

Some new high-end models have aluminum frames

different office and working spaces.5 Hoa Phat

Hoa Phat is known as one of the leading units in Vietnam specializing

in manufacturing

home appliances and office furniture In the growing trend of office

ergonomic chairs, Hoa

Phat has also researched and launched a number of ergonomic chair product lines to meet

the needs of users in Vietnam.Hoa Phat chairs are diverse in design to meet the needs of consumers such as: Hoa Phatstainless steel stools, folding chairs, lazy chairs, recliners, leadership chairs, office chairs,

and in each product category The product has a variety of different chair models for you

to choose from Hoa Phat chair brand mainly produces office chairs, with good quality and

price

STRENGTH

- COST: No import shipping costs, direct domestic production, so theprice is quite

low and competitive with imported ergonomic chair models

- The warranty and replacement of accessories also become

simpler and faster

- Ergonomic chair: The body support parts of the chair are highly

customizable with many

advanced features such as True Tilt reclining mechanism, Tension

resistance adjustment

Control, to be able to fit all body shapes and postures of users

- High-quality and reliable materials and technology with public and clearorigin or supply

Controller system from Donati, Italy (The adjustment modes are

diverse and more 90%

optimal than other products on the market)

Piston: class 4 Samhongsa (also used by famous and luxury brand likeHerman Miller

Aeron, Dvary Butterfly, Dvary Ivino)

Aluminum alloy chair legs + Slient PU Wheels => Load

-Lifting table: The updated pro feature is not really too reasonable

compared to the price

A new entry in the market: Epione products entered the market in

and mental health Besides, this mindset has also affected the

managers Managers are

nowadays more concerned about their employees' health and

satisfaction, which can raise

when being an user/ customer are starting to look for Vietnamese

products more And in

Vietnam today, Vietnamese brands providing ergonomic products

are quite rare

As a startup in the field of furniture and health, these products can attract a lot of support

and investment from the government and big

companies that care about their workers health as well as productivity without taking a

usually people between the ages of 18-40 with moderate to high

income, specific targeted

groups can be:

SUB TARGET: PERSONAL Target

Income: Economy class

Occupation: Office workers, individuals who spend a part of the time working from

-Care about the physical statement

Motivated to be on the track of leading a

They desire a good physical statement to achieve goals

Purchasing decisions remain driven by consideration of quality and brand attributes

Willing to try new brand with products that is good for their health

→ These achievers prioritize their physical health They are

Do not think that it’s effective

→ Assist: Educate them about the effectiveness of ergonomic chairs through marketing on

social media where they are highly

active

MAIN TARGET: BUSINESS

- Commerce proprietors who want to progress the quality of the working

environment, make keen speculations for their staff by giving quality working

high-furniture (this can be a way to boost productivity among

How will customers use the

leading partners in the market to form an ergonomic chair with

extremely high-class details

such as: Class 4 Piston from Samhongsa Korea, Shrinx Tech Krall & Roth Mesh from

Germany, Donati resistance set from Italy…

Products are designed to fit Vietnamese users: Epione team are young people who

always put themselves in the position of Vietnamese customers to design and create the

most suitable chair From the flexible headrest according to the

adjustment to suit the user's

height the most Until the design of the seat can move forward and adjust the tilt angle to

suit the user's leg length

Products are provided with the best customer service: In addition to good and quality

products, Epione also provides customers with the best customer

service from complete

product installation to after-sales policies (On Epione's website, there are slow-motion

video clips and detailed instructions on how to install the product at home that anyone can

do in less than 30 minutes Or when the product is delivered, the

customer can ask the

delivery staff to assist in the installation and use of the product.)

What features does the product need to meet

customer needs?

ErgoChair Pro is calculated, designed and manufactured to the most rigorous ergonomic

standards in the world

Vietnamese customers can experience the greatness of Epione

ErgoChair Pro with best

features supporting them in terms of maintaining a comfortable sittingposition, which

improves their health and focusing while working Such features include:- ASPA - AUTOMATIC SITTING POSTURE ADAPT SYSTEM:

- TRUE TILT MECHANISM:

+ The True Tilt mechanism allows you to precisely calibrate both angle and

tension Help you completely relax after hard working hours+ The tilt of the seat is synchronized with the backrest, ensuring you are always

in the most comfortable position

-TENSION CONTROL MECHANISM:

+ Helps to accurately adjust the resistance of the chair back, confident to use in

all cases, optimal for all bodies

Effective support for your arm during work

SHRINX TECH KRALL & ROTH MATERIAL:

+ Standard 100 OEKO - TEX -

in the Italian Donati controller

The adjustment modes are diverse and 90% more optimal than products on the

produce the included headrest, if necessary, you have to order it

through a 3rd party for a

price of 3-5 million VND while Epione chairs are designed with flexible 3Dheadrests that

can adjust to suit the Vietnamese user's height the most

PRICE

Are your prices higher or lower than your

competitors?

There are competitors with higher prices but also there are some with lower prices The

market segments include: Popular segment - Models under VND

5,000,000 (Sihoo, Xiaomi

HBADA, ); Mid-end segment - Types that priced from 6,500,000 - 16,500,000 VND

(GTCHAIR, ); High-end segment - Over 20,000,000 VND (Herman Miller)

However, with such quality and customer service, we offer a price that

is reasonable for

both our company and our customers

Should a discount be offered to a specific customer

served when businesses buy products with large numbers

The perceived value the company can

bring?

SiliconZ can meet the 5 main benefits to effectively higher the

perceived value of the

products:

- Morphological benefits: All products including Epione Ergonomic Chairs have

exquisite, luxurious design, suitable for all your workspaces

- Functional benefits: In addition to good and quality products,

Epione also provides

customers with the best customer service from complete

- Ownership benefits: The company has detailed and suitable policies related to

shipping and warranty

SiliconZ and its customers as well as stores specializing in technology across Vietnam In

Hanoi, there are Thinkpro, GearVn, TNC, ErgoHome, In HCM City, there are Broshop,

TminsStore, MaxpingGear, SiliconZ, In Danang, there are Anh Duc Digital stores In

Can Tho, there is a Nguyen Vu Store

Is the location you choose convenient for your

designs and content:

+ Having more posts on Epione being the pioneer brand for

Vietnamese users as

this is a strength of ours

+ Adding more pictures or videos of customers experiencing products (on the

current website there are mostly images of only the products)

for their employees.

III Objectives and KPI

are many price segments, the design has advantages compared

10,000 customers

30,000 customers

30,000 customers

20,000 customers

500 customers10,000

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