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BlockVision Video, Inc. Group #11 Matthew Fernandes Manuel Rangel Yong Taek Hong. BlockVision Video, Inc. Timeline. Product: Wide variety of movies tailored to the nearby communities Competitive rental prices Latest DVD, VHS, Video Game rentals. Executive Summary. Costs vs. Budget.
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BlockVisionVideo, Inc. Group #11 Matthew Fernandes Manuel Rangel Yong Taek Hong
BlockVision Video, Inc Timeline • Product: • Wide variety of movies tailored to the nearby communities • Competitive rental prices • Latest DVD, VHS, Video Game rentals Executive Summary Costs vs. Budget Potential Market Share • Budget of $6.5M, Costs totaled $6.35M • Unexpected costs during construction phase • Extensive market research required additional funding • Able to save sponsor $150K overall
BlockVision Video, Inc Test Pilot • Test Market of Singapore will set our trajectory for the next phase of Asian market • Residents of Singapore are 74.2% Chinese, 13.4% Malay and 9.2% Indian • We have identified our concept of business • Determined customer characteristics • Understand attitudes, trends, habits and patterns • Evaluated competition: both direct and indirect • Identified appropriate locations • Evaluated site economics and physical characteristics
BlockVision Video, Inc Potential Market Success in Singapore will lead BlockVision to expand into other Asian countries
BlockVision Video, Inc Market Research • Because of its diversity, it was imperative • that we select 3 different locations that • would suit each demographic • Collected primary and secondary data • Associations • Government Guidance • Maps • Colleges • Community Organizations • Apply Market Segmentation; • Dividing population into subgroups • SWOT Analysis • Strengths, Weaknesses, Opportunities and Threats
BlockVision Video, Inc Site Selection • The factors we employed when determining • site location • Keeping cost of labor in check • Foreseeing a road to profitability • Costs of a NEW vs. EXISTING facilities • Powering up while keeping costs low • Existing facilities satisfy demand for a quick turn around • Impacted by reliability and “Going Green”
BlockVision Video, Inc Construction Open Temporary Office Lease Building Demolition Interior- Exterior Design Set up Utilities Furnish the store
BlockVision Video, Inc Interior Design • Theme : The interior of the store is intended to be contemporary • Advanced Customer Service System • Section are divided by ages and nationality • Leisure and snack bars available for customers • Gaming areas
BlockVision Video, Inc Exterior Design Theme: Each store must have the same exterior characteristic that makes it easy for customers to identify • Same color - yellow will be the main theme color • Similar exterior architecture • for example I-hop restaurants have similar triangular blue roofs • Same exterior signage, attractive and easily recognizable by customers • Sign Characteristics • -Polycarbonate sign face • -Large pictorial graphic • -Extruded aluminum frame • -LED night lighting
BlockVision Video, Inc Procurement: Hardware, Inventory, etc • Latest in action, drama, suspense • horror and romance movies • Over 15,000 to select from • Video games for Wii, Xbox and PS3 • included • Integrated iPad system for payment processing, • and catalog lookup • Mobile Wallet • Durable shelving units to hold large amounts of • inventory • Snack food items to accompany rentals
BlockVision Video, Inc Total Movie Resource Location Selection of Movies • Variety of movie selection to the preferences of the customer base • DVD, VHS, Video Games • Largest customer base ethnically Chinese, largest course of movie procurement is • from China
BlockVision Video, Inc Staff Hiring and Training • Hire new staff: store managers and associates • Determine HQ location for training • Provide appropriate training: customer service, company software, and product knowledge.
BlockVision Video, Inc Timeline Market Research 7/1/2014 - 7/22/2014 Site Selection 7/23/2014 - 8/13/2014 Demolition 8/14/2014 - 9/4/2014 Construction 9/5/2014 - 10/6/2014 Exterior Design 10/7/2014 - 10/31/2014 Interior Design 11/1/2014 - 11/26/2014 Procure Equip, Hardware, Fixtures 11/27/2014 - 12/22/2014 Closeout 12/23/2014 - 12/30/2014 Interior Design Complete 11/26/2014 Construction Complete 10/6/2014 Procurement Site Selection Complete 12/22/2014 8/13/2014 Exterior Design Complete 10/31/2014 Market Research Complete Closeout Demolition Complete 12/30/2014 9/4/2014 7/22/2014 2014 Jul Aug Sep Oct Nov Dec 2014
BlockVision Video, Inc Delivery • Turnover 3 BlockVision stores to customer • Punch list items successfully completed • Temporary offices closed • Accounting records filed • Transferred staff • Cut the ribbon ceremony