In India There Is A Large Market For T-Shirts, Also There Are Many Companies: Innovation Management Assignment Help, UCD, Ireland

In India There Is A Large Market For T-Shirts, Also There Are Many Companies: Innovation Management Assignment, UCD, Ireland

University University College Dublin (UCD) 
Subject Innovation Management

Problem/ Opportunity

In India there is a large market for t-shirts, also there are many companies like Wildcraft, Bewakoof, The Souled Store, Myntra and many other companies have been towards it and also achieved great heights. Here people who buy a printed t-shirt buy only the already existed designs like through shopping online. So here I would like to introduce a customized t-shirt for individuals where customized one is already existing but only for large or bulk orders, so my plan is to give a customized design for individual people at the nominal cost.

For marketing co-creation concept will be implemented for more customer engagement and for many marketing campaigns without any manpower. As of the initial phase introducing a customized t-shirt for an individual might be expensive but my plan is to reduce it as much as possible and also reducing the warehouse cost by various ideas. So, I am estimating the initial investment of 40,000rs for my business plan.

Value Proposition
➢ A platform for people to create their own design for t-shirts with all the colors and
predefined pictures, and also can include their own design if they want.
➢ Usual Cost i.e., no additional cost for customized designs
➢ Attractive packaging

Underlying “Magic” – CO-CREATION
➢ Here I’m using the co-creation concept, as I need not hire any design expert or any
marketing executive.
➢ Here customers are the designers and marketing executives.
➢ Will organize a competition like anyone can participate, they should create their own design with the help of our website and should post that on social media or any other platform asking people to like or vote.
➢ This competition will be held once in 2 months as when people start sharing the website will get more footfall so if they like this competition also they can participate or if they like any other design that is available, they can also buy that.
➢ So, after that competition, the will the one who will get more votes and the reach will be the winners. They will be rewarded with some amount.
➢ And if they would like to continue, they can also do that by making his circle to buy the t-shirt where the respective person will get shares in that t-shirt profits.
➢ So, this will motivate many students and early professionals to participate and everything will be transparent and easy to use.
➢ This also includes referral bonuses and other metrics also.
➢ Also, the product will be pure cotton and more quality.