Rona.Co / Muhammad Norazly Marzuki ... [et al.]
Rona.Co is a Malaysian apparel retailer based in Kuala Lumpur. This company was founded to provide people with middle and low incomes with the opportunity to experience and use products that only the wealthy have significant exposure to. Fast fashion is the company's specialty, and it sells clo...
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| Main Authors: | , , , , |
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| Format: | Entrepreneurship Project |
| Language: | English |
| Published: |
2021
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| Subjects: | |
| Online Access: | https://ir.uitm.edu.my/id/eprint/67017/1/67017.pdf https://ir.uitm.edu.my/id/eprint/67017/ |
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| Summary: | Rona.Co is a Malaysian apparel retailer based in Kuala Lumpur. This company was founded to provide people with middle and low incomes with the opportunity to experience and use products that only the wealthy have significant exposure to. Fast fashion is the company's specialty, and it sells clothing, accessories, shoes, handbags, beauty products, and perfumes.
The Business Capital Canvas, or BMC, is a tool for visualizing business concepts and ideas. Rona.Co uses BMC to get a quick overview of the business, such as what Rona.Co's value proposition is, who Rona.Co's target customers are, and many other concerns. BMC is important in ensuring that a business has a relevant direction and easy-to-understand visualization. Key partners, key activities, key resources, value propositions, customer relationships, distribution channels, customer segments, revenue streams, and cost structure are the nine boxes that BMC has. All of these BMC components are critical to comprehending the business model.
In addition to BMC, Rona.Co performs SWOT analysis, which is used to evaluate Rona.Co based on facts and data obtained from Rona.Co business's strengths, weaknesses, opportunities, and threats. Rona.Co is a start-up business that is becoming more dominant and well-known around the world, particularly in Asia, because it provides a wide range of options at reasonable prices. Nonetheless, Rona.Co has some weaknesses and threats that could threaten the company if effective and efficient initiatives are not implemented. As a result, the Uniqlo and H&M businesses are regarded as Rona.Co's main competitors in the industry, and Rona.Co is accustomed to making constant improvements in terms of products and services.
Though, of course, every business has its own set of issues. We have a problem in this business because of the young people who want a high-quality product at a low price. This is our issue because our target market is a young generation, and of course they want a low-cost product because they want to save as much money as possible while still getting a nice, stylish, and highquality product.
After all needless to say, there is always a solution to a problem. Rona.Co as well tries to find a solution to this problem, and we find a solution in which Rona.Co tries to reduce the cost of our product, worker wages, and raw material costs in our company. Though, in general, we can say that our company will try to expand our target market as well as the market in other countries so that no other people on a mid and low wage will be able to buy and use what the rich people get to buy and use. |
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