XIN Enterprise – MyVenders / Nursyahirah Najmy Mohd Rosly

• Main Author: Mohd Rosly, Nursyahirah Najmy
• Format: Entrepreneurship Project
• Language: English
• Published: 2020
• Subjects: Entrepreneurship. Risk and uncertainty; Business. Business enterprises. General works, treatises, and textbooks
• Online Access: http://ir.uitm.edu.my/id/eprint/40191/1/40191.pdf; http://ir.uitm.edu.my/id/eprint/40191/

MyVenders is a product that brings benefit to both of its customers and users. This newly developed vending machine consist of new features that is expected to give an opportunity to customers who wanted to have an energy-saving vending machine and a product that pays more attention towards users’ concern. The target market of this product is shopping malls and offices building owners since this product is more suitable to be placed at an open space with high traffic. Since there are users who are concerned about their safety and lack of cash on hand, MyVenders come out with the solution where this product provided an automated hand sanitizer and cashless payment. This product offers service and features that no other sanitary pad vending machine could give to customers. Presenting themselves as a product that is rare and different from others, MyVenders enable customers and users to experience the ability to pay through their smart phone by scanning a QR code. Although some may say that MyVenders is overprice, the price offered is still reasonable since it include features that are favourable to customers. Other than that, the market analysis proved that Xin Enterprise is able to expand their business with the production of MyVenders since this product is something that has been anticipated and hoped by the public. This means that the population of target market might increases and Xin Enterprise are able to expand their coverage to the whole West Malaysia. Management team of Xin Enterprise consist of the CEO, General Manager, Human Resource Executive, Operation Executive and Marketing Executive where each employee have their own roles and responsibility. The total equity invested by the team members is RM 400,000 and every person contributed different percentage of personal financing. In conclusion, Xin Enterprise are able to captivate the market with MyVenders as long as they plan the strategy thoroughly and carry out the task attentively.