The entrepreneurial idea presented in this project is to create a multifunctional mug for travelers and hikers that combines the functions of the organizer for cosmetics and the several-layer cup functions. Several segments inside the cup will pour various beverages into it simultaneously into the divided sections. It might also be possible to insert different bottles of drinks inside the cup to transport them saving a decent amount of space in the rucksacks at the same time. I came up with the idea during my recent hike: I have a travel organizer for cosmetics, which contains small dispensers for shampoo, shower gel, makeup remover, and so on. I have enough hiking experience to develop a compact and comfortable mug for travelers. The lack of space is essential for every hiker, and it will be practical to have a multifunctional instrument that can be both an organizer and a mug saving space and decreasing weight. This mug has a unique advantage over competitors for its weight as it will be three times lighter than the average cup weight having three full-fledged cups inside at the same time.
Being an experienced hiker, I have all the necessary skills and expertise to execute this business idea. Firstly, I possess some designer skills that will help me develop a mug design with a minimalistic format. Secondly, using the knowledge from the ecology course, I can choose the materials for the mug that do not harm the environment and do not emit harmful substances when it is heated. The importance of materials should be central before the implementation of cup production. I will need external marketing expertise to realize the business idea. To promote a product, a marketer is also required, whose duties will include advertising and price setting. In addition, marketers will be engaged in the search for sales channels to enhance and rapid the selling process and the development of product positioning.
The major market problem that will be tackled with this mug production is the lack of decent quality ecologic-friendly multifunctional tourist equipment. The other advantage of the cup is its lightweight and multisectoral structure. Moreover, hikers and travelers do not always have access to water to clean the cup, and several sections can be useful for dividing the purposes: drinking hot or cold beverages, using it for sublimated food, or other purposes. This product is unique and innovative, as the modern customer seeks compact light and multifunctional tableware items. For instance, the central products on the market for tourist’s cutlery are knives connected with forks or pots and pans. While manufacturers are spending a substantial amount of time on the production of these goods, not enough attention is spent on the production of multifunctional tourist mugs.
The organizer mug is a practical and profitable idea as it can be used by various groups of customers. This multifunctional cup can also be helpful for fishers or hunters as they also spend time in nature with no access to food or cutlery. The multifunctional mug is convenient to take on any trip in a rucksack or a car. The product’s target audience is people that are fond of active sports: hiking, rock climbing, safari, horseback riding, skiing, cycling, etc. Customers’ characteristics and geographical locations do not matter as people of all ages and places like hiking and traveling. The mug does not require any special knowledge to use, so it has no limitations for people.
The utilization of the organizer mug can be efficient for people having a constant active lifestyle and those who like traveling. The targeted customer segments have the willingness and capacity to pay the price because the mug itself is not an expensive product. In addition, more people nowadays are oriented to lead an environmental-friendly lifestyle, and for them purchasing the cup will be attractive. The potential market for the mug selling is the military soldiers as they are going hiking daily, its weight and capacity will be primary advantages for them. Moreover, supplying the government is efficient in scale, sustainability, and good income. Treatments with the government are most of the time long-lasting and reliable. Soldiers in the military oftentimes are going on a hike or have long routes as training. The mug can be a compact and useful item that will lighten their backpacks and will not take any extra space.
The main competitors are manufacturers of compact cups or brands that produce eco-friendly items for tourists and hikers. The major advantages of the organizer mug are its low weight, several sections inside, and multifunctionality. Struggling to take a respectful position on the market and being competitive with competitors, the main issue for a new brand trustfulness of the customers to the quality, notoriety, and reliability of the brands they are familiar with. Furthermore, many companies are not limited by the production of cups and provide whole sets of tourist dishes. Such companies as MSR Insulated, Snow Peak, Tatonka Handle Mug create compact mugs and can be potential competitors. However, the main advantage of the organizer mug is its price and multifunctionality that can attract new customers to the product. Likewise, modern customers tend to like unique products from small businesses concerned with only several items.
The primary items of spending in the production and sale are design, materials, and advertising. The resources needed for the realization of the business idea are eco-friendly materials, employees, designers developing the brand, slogan, and advertisement materials. A possible way of finding financing resources is bank lawns, sponsors, and personal savings. It is reasonable to become partners with a company engaged in the production of multifunctional tourist bowls to help enhance the advertisement among the targeted stratum of clients.