BUS477

Team Members:  Tony Chow (BUS477), Farhan (BUS477),  Michael Henrey (ENSC201), Helia Sharif (ENSC201), Jeremy Yoo (ENSC201), John Berring (ENSC201)

Meeting time/location:  We met in person at ASB Burnaby from 1:30pm to 3:30pm on Nov 15TH, 2009.

Resolved/ToDo:

-Need to come up with new company name and product name (because of potential copyright infringement)

- Secured suppliers for all the components of our product in California and Quebec

- Revised pricing strategy and warranty coverage and decided not to offer extended warranty

-Produced prototype of the product and will perform stringent testing to ensure integrity and reliability

- Decide on promotional and sales strategy to employ  

- Conducted in-depth market research/analysis and completed sale forecast with 3 scenarios (pessimistic, average and optimistic)

- Identified direct and indirect competitors and performed thorough analysis on them

- Solid estimate of various fixed and variable costs

-Completed major financial statements

- Secured a place for office/warehouse in Richmond for $1700/month

- Next meeting set on Nov 22nd, 2009. By then the business plan should be done for final editing.