Tag: Mack H

Madeline Bartholomew, Hanna Mack, Joseph Piper

Team Chester Capstone Presentation

Chester’s Mission Statement

“Premium products for mainstream customers. Our brands withstand the test of time. Our stakeholders are customers, stockholders, management and employees.”

Company Strategy

We will be approaching the simulation using the “Differentiator with Product Lifecycle Focus” company strategy. Entering the market with all competitors including ourselves starting fresh we hope to gain an early advantage through high sales from a high tech product. With the introduction of our first high tech product, essentially no time has surpassed allowing for that product to become “old.” This planned successful first quarter will determine our continuing approach. By introducing new products and lowering the manufacturing quantity and price of previous products we plan to capture both the new market, as well as, be a cost leader in the old market. Ultimately, we hope to stop production of old products and sell off our inventory. By keeping a low inventory of old product we minimize the risk of having large inventories that do not sell or sell for the cost of production.

Research & Development: We will have multiple product lines in both segments. Our goal is to offer customers products that match their ideal criteria for positioning, age, and reliability.

Marketing: We will spend aggressively in promotion and sales. We want every customer to know about us, and we want to make our products easy for customers to find. We will price at a premium.

Production: We will grow capacity to meet the demand that we generate. After our products are well positioned, we will investigate modest increases in automation levels to improve margins.

Finance: We will finance our investments primarily through stock issues and cash from operations, supplementing with bond offerings on an as needed basis. When our cash position allows, we will establish a dividend policy and begin to retire stock. We are somewhat adverse to debt, and prefer to avoid interest payments. We expect to keep assets/equity (leverage) between 1.5 and 2.0.

BUS 499, Business Strategy and Policy

Dave Quirk

P103

1 – 3 PM

Return to schedule

Hanna Mack, Nick Mack, Monique Thompson

Fitbit Flash

The FitBit Patch is a patch that can be applied directly to the skin on certain areas of the body, recording things like heart rate. The patch can then be connected to other FitBit connected devices in order to transfer the data collected by the patch into the FitBit fitness database. Our booth will have our product prototype and computers to air our product commercials. There will be some displays of the benefits of the product as well. We will be using multiple forms of technology to complete and show off our product at the Expo. The product itself will use Bluetooth technology, a pedometer, and heart rate monitor. The patch will send the data through Bluetooth to the user’s cellular device. FitBit already has an App in place to collect this data and allow users to make goals. Our team will create a commercial to show off how our new product can benefit the lives of our customers.

MKTG 330 Marketing

Timothy Veach

SPS Conference Room

10:00 AM – Noon

Back to the schedule

Jeni Hoffert & Hannah Mack

EMV Chips in the Business World

Identity theft has become a major threat in our highly advanced world of technology. Magnetic strip credit cards have recently been replaced by a more advance technology created by Europay, MasterCard, and Visa, titled EMV Chips. They have become the new standard in today’s payment methods. The purpose of the new chips was increased security through every single transaction customers made. For every single transaction made, a code is created. The code will never be duplicated or used for another transaction, thus making it harder for theft to occur. The United States is one of the last countries to implement this new technology into its commerce. Businesses must now become EMV compatible, which means changing some of their business practices. The costs of the new technology, as well as, the burden of transitioning liability for businesses who do not choose to become compatible has caused discussion on whether this new technology is going to be effective. Some fraudulent people have already figured out how to create theft with the new chips. The businesses that do become EMV compatible strengthen their relationships with customers and build trust. Although theft and fraud cannot be removed completely from the world of commerce, these new chips can drastically reduce them, making it more difficult for criminals to break the law.

BUS 360 Management of Information Systems

Steven Schmidt

Banquet Room

10 AM – noon