INTRODUCTION

1.1                           Overview of the social enterprise

• Company Overview

Three important members of the company founded TigerBow.  Wahid Hossain was the main founder while Abid Ahmed and Tarek Mahmud Bijan later joined in as the co-founders who contributed to the formation of the company in the year 2016. The company is based in Dhaka Bangladesh. tigerBow has the aim of providing jobs to the women and artists in Bangladesh so that they can be financially independent. The owners envisioned the struggles that these groups of people had in the country and wanted to promote the better life by giving them the constant inflow of money. The product for the company is handcrafted, the handcrafted bowtie that s done by the artists from the local area. The artists make the bowtie from fabric katan, a traditional katan. The company is an addition to this give the training and training facilities to the local people. This educates them on businesses and how to become successful entrepreneurs. The company trains these persons on product innovation together with customer service innovations.TigerBow company also pays better wages to these rural women artists more than other people within the country. Each of the sales that have been made on the bowtie gives 2% income improvement for the artists. Currently, the founders are defining a potential market to develop effective strategies so that they can scale the company abroad especially in the United States. Kentucky is the preferred company option that the owners are considering.

Purpose and Mission

Purpose: The purpose of the company is to source traditional fabric artisans who have carried the traditional cloth making the process for generations and to reconnect their products to the world of the luxury market. Products of tigerbow surpass the quality of the provided standards and allow people to make their livelihood.

Company mission: to empower artisans in Bangladesh through upholding a culture of mutual love and respect.

• Company Challenges

1. Funding Shortages: From the statistics that have been got from the company website, our company analysis shows that the website does not have traffic for customers. This means that there are ineffective advertisement procedures used are not effective and the other promotional activities used and also not effective as well. This is why we believe that access to sufficient funds can help the company to regain access to the marketing recognition and thereby to strengthen the brand that it has. Currently, the company does not have enough brands that can help it achieve big sales call target effective customers that can help it access the luxury market. Enough funds can help in improving the great benefits and overall market compliance. The shortage of funds has been a disadvantage to the company because it cannot access the market in a better way thereby allowing the competitors to dominate the market continuously.

2. Pricing Strategy: Every bowtie is currently being sold at $100. The research market that we have done shows that this is quite a high price and we believe that if we can partner with the other companies, we can get a more suitable and a competitive price. If this is used with the right marketing strategies, the company will be successful is the sales will go up.

1.2         Overview of the project

• What is our project

The market that is served by bowtie does not have aggressive competition, especially in the country. Most people in Bangladesh usually wear bowtie are the United States will be the first main market outside where the company will be selling bowtie. In addition to this, tiger bow is a new small scale enterprise and therefore has a small amount of investment that is done by the founders. The company has little External support and supply chain. The channels for advertisements are not able to match the other companies. Currently, the company sells balti through social media events undertake that expert in most organizational events. It is important that the company can increase its sales within the United States so that it can reinvent the product produce in Bangladesh. This will also help with keeping up the financial sustainability and help more artisans to get a better income.

• Project Objective:
  • What is our end goal

The goal of this project is to find a potential market that exist within the United States and Canada so as to improve the sales of the company at an international level.

RESEARCH LIMITATION

The following are the limitations that the researchers faced

1. Survey Approach:

The survey approach ad the following limitations. The first one is the geographical limitation that comes as a result of the difficulties in reaching the areas that are out of the domain of the team. The other problem is the sponsorship limitation that the researchers have to face. This comes as a result of the difficulties in reaching out for the Kentucky customers because people are not allowed to access Kentucky Derby that is in Louisville and record taxidermy in musician facebook page. The lack of access comes as a result of sponsorship agreement and restrictions. The other limitation comes from personal interviews. Only a small number of participants were interviewed. These are people who are intimately connected with bowtie and have deep knowledge of the company.

The main limitation for the channel interviews was the result of the difficulties that were faced on meeting the store managers. The researchers could only meet with the store assistant managers, not the person who has all the information. It is necessary that the team should find time to approach the manager so as to get credit information.

Impacts of the identified limitations on the project

This limitation list message effects on the project. The first limitation is that there is less support further recommendations of the market about primary producers that occupy the market in the main domain. Thirty-seven percent of the respondents were students, and therefore it is easy to obtain biased data. Data biasness is one of the challenges that is facing research credibility and reliability. Whether the company would like to keep targeting the basic needs, it should focus on a marketing approach. The other limitation was that there are no Kentucky customers from the data that was obtained. This cannot give a conclusive remark for understanding the customer graphics of Kentucky. The perception of customers in Kentucky have opinions about the products ofTigerbow when it comes from Kentucky shops. General answers given by the interviewers is the idea because there were no details in giving response towards driving factors behind the success of buying bowtie. There is also no detailed recommendation of the expanse that companies have to enter in the market because of the lack of knowledge within the United States market. Until now there is no chance to reach out Kentucky customers. This is challenging because it is what TigerBow

wants to focus, so there is no specific analysis for this group of customers

References