A PROJECT REPORT

ON
“ECSTASY”

MASTER IN BUSINESS ADMINISTRATION.

(Batch 2019-2021)

Under Guidance of Submitted by-

Dr. Pinaki Nandan Patnaik Team Athulya
Head of the Department MBA 1ST TRIMESTER
CMS

NATIONAL ACADEMY OF LEGAL STUDIES AND RESEARCH

CENTRE FOR MANAGEMENT STUDIES, HYDERABAD

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 TABLE OF CONTENTS

Particulars

Introduction

Need of Assessment

Conceptualization of the Product

Target Market

Product Design

Marketing Mix

• Product
• Price
• Place
• Promotions

5C Analysis

Identification of Competition

Positioning

Strategies to deal with competition

Bibliography

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 INTRODUCTION

Ecstasy is the highest degree of happiness. The word Ecstasy is derived from a Greek word
‘ékstasis’ which means to step outside of oneself. It is a state of extreme happiness where a
person enters into a state of trance. According to Einstein ‘Ecstasy’ is the finest emotion of
which an individual is capable of or in simple words a “Mystic Emotion.” Ecstasy as an
emotion is an intense elation that is uncommon in the normal course of human life, but can be
developed due to certain substances as well as experiences like art, music, love, orgasm,
exercise etc.

Man is a religious animal by nature and mostly all the cultures have elucidated ecstasy in
terms of divine possession. Ecstasy is the most vital emotion of a true religious sentiment.
The theist, atheist as well as agnostics all can experience the deepest religion or religious
ecstasy without getting captured in the trivia of a particular religion through various methods
like meditations, intoxication and ritual dancing.

Ecstasy is very difficult to describe in parts because it is a very uncommon feeling. It is an

experience which is a first episode as life changing. During this period a person enters into a
trance like state which makes him feel a great sense of calm, quiescence, relaxed and which
can lead him to become tearful and sometimes become unresponsive up to a point of
unconsciousness. Ecstasy is a deep-rooted tendency in a man’s mental constitution which can
be triggered because of things which are both materialistic and non-materialistic in nature.
Ecstasy involves a change of feeling from awful to the most delightful feeling but never the
reverse.

The pre-eminent feature of ecstasy is terminating the boundaries of individual ego merging
into all being. Our society emphasizes the supreme independency and the predominance of
ego in each and every individual. Today, if we are unable to control and let go our ego the
consequences will be utterly devastating. Thus, this can help us be free from modern
narrowness and neediness. Kids of younger age have a merged or quiescent ego that is why
they brim with lots of joy and wonder. Ecstasy can thus make us live a life like a little child.

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Need assessment:
The problem of the people is not being ecstatic of the products available in the
market. The products in the markets are lacking of a personal touch which is not helping out
the consumers as desired.

Primary Research:

As a part of research plan, we started out with exploratory research as the first step where we
got to know about the feeling or the emotion of ecstasy. How the audience feel about this
emotion.

Ecstasy is an emotion which lasts for only few moments and then diminishes. So, for the
problem of not being ecstatic we conducted personal interview to the audiences about asking
how they feel at different moments. The interview also went on with how frequently they are
happy and what makes them happier giving them the feeling of cloud 9?

Secondary Research:

This led to a basic understanding on the emotion of ecstasy. Then using differential and
inferential research methods we have formed a questionnaire in-order to proceed with the
product and its designing.

The data obtained from the secondary research helped us in determining the features and
specifications.

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 CONCEPTUALIZATION OF PRODUCT

Imagine how ecstatic it would be to operate your things at your fingertips. Introducing a multi
functioning smart wrist band which helps to do work at your own finger tips – “Zie”. The
world is developing faster technologically. We firmly believe that we should leverage
technology to anticipate a big change and make a difference in how people live, work and
innovate. We have designed this product to make the work of people easier and also keeping
in mind the emotions of people.

This band has many features out of which the main two are Gesture Sensors and Bone
Conduction technology. In Gesture sensors we can operate the opening and closing of the
door with gestures of our hand. For example, you are doing some very important work and
suddenly there is someone knocking at your doorstep. You need to go and open the door
voluntarily but our band helps you to open and close the door using your hand gestures.

Another feature is the bone conduction technology. This helps you to answer your calls by
twisting your wrist and talking with fingers. This technique will give immense happiness to
people who are having hearing disabilities because this technology has nothing to do with
your eardrums. The sound waves directly pass through the cochlea which is also known as
the inner ear. The cochlea is connected to the auditory nerve that transmits the sounds to the
brain.

Zie band has other features like fitness tracking (pulse rate, steps walked and calories burnt),
NFC (Near Field Communication) which helps you to go cashless and also to access your
personalized data in your laptops. Zie also has an added advantage of getting charged through
your body temperature so no need to carry an additional charger to charge your band.

In order to be successful in the introduction of the new product in the market following steps
are followed chronologically:

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TARGET MARKET

The main part of creating a successful business is identifying the target market. Here, our
target market mainly consists of lecturers, professionals, who are tech-savvy, and also the
people aging between 18-35 years as they get attracted towards the product very soon. As this
is a wrist band with bone conductivity which helps a person in answering a phone call
through their fingers and they does not need any device, ear phones or ear pods to
communicate through phone. Also the people having hearing problems can use this band as
the sound passes through cochlea that is your inner ear without involving the eardrum.

This product also has gesture sensor which helps in operating doors (i.e. opening and closing)
from the place where you are.

These options provide a great advantage to the target audience by making their work easy and
also, they attain ecstatic feeling.

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 Product Design

Product – sophisticated band

In the growing world of technology all the things which are done with greater
difficulties are simplified with the advancement of the technology. In the same way we came
up with a product called “Zie” a Smart Band which simplifies our work. “Zie” The band with
multi purposes. The band that helps you to stay connected to the world with the emerging
technologies. There are keys features for our product which blow out the mind are:

1. Gesture sensors

2. Unlocking doors using gesture control

3. NFC

4. Bone conductivity

5. Charging through body temperature

These are the key features of the product. Other than this the product can perform
things like:

1. Fitness tracking
2. Calls alert
3. Notifications alert
4. Fashionable
5. Sleep monitor
6. Scratch resistant
7. Dust resistant
8. Led indicators for alerts
9. Heart rate sensor
10. GPS tracking
Going on to the details of the product, band will be in the dimensions of 43* 17* 11
mm which weighs about 45gms. Available in white, matte black, yellow and red
colours. Size available will be free size which can be easily fitted to any size of hand
as the band is flexible and compatible to all hands.

The key features:

1. Gesture sensors:

With the feature of gesture controls the band works and does the
allotted works. This sensor is used to unlock the doors to which it is connected to. We
can manage phone calls, messages and notifications using this gesture controls. Calls
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can be directly lifted with just twist of our wrist. We can also control the presentations
through the gesture controls just by waving your hand pointing to the screen.

2. Unlocking doors using gesture control:

This is one of the major features in the band which is first ever
technology introduced in the band through which we can open the doors of our houses
from the hand gestures. This technology is the first ever invention which helps to
open the doors with the hand gestures.

3. NFC:

Near Field Communicators is a technology which can be operated from

very short distances. Using this we can do payments with just one contact with the
POS machines. This can also be used as a replacement to payments, metro cards etc.
using this we can secure our payments and also important files. The band is equipped
with a technology where we can access our laptops with this band nearby only. We
can secure this like a key to the vault in which important data is stored and cannot be
manipulated. It can be handled by only the owner of the band.

4. Bone conductivity:

This feature enables the owner of the product to answer the call
through fingers itself and there is no need of taking out the mobile to answer the call.
This is possible through the process called bone conductivity through which you can
just place your hand near the ear to talk to the call. This also helps the people with
hearing disability to no hear properly to hear the sounds as this transmits the sound
through bones but not through ear drums.

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 5. Charging through body temperature:

No electricity is used to charge the band. No more fuss of carrying

more and more chargers while you travel. The band charges from the heat generated
from your body. Band used thermometric power to charge through which it had
endless charge and stay connected always.

Other than this flagship features there are other salient features of
the band where it helps you to stay fit with the help of tracking you daily activity like
exercise, walk, running, eating, sleeping, how much intake of calories should be there etc., in
the daily routine. We are so concerned with the health of our customer by which there is also
a heartbeat sensor where if the heartbeat gets low it alerts you with a buzzer. This band also
allows you to check out the calls on mobile and speak through the band with just a twist of
your wrist. Now calls are one wrist away.

This also helps you with the tracking of your band once connected
to the phone. You cannot lose your band as you can track it down where ever it is. Zie come
with a material where it is scratch proof. As the band is made up of synthesized rubber it
comes out with water resistant and also dust proof. Zie not only technologically advanced but
also it can be worn as an fashion band as it is available in many attractive colours of white,
matte black, yellow and red colours.

Zie being a multipurpose band also helps out in accessing your

private/ personal data securely through a concept called NFC (Near Field Communications)
where it acts as an interface of securing data without password security, only key used to

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access the data will be that the “Zie” should be near the device you are working on.

Marketing Mix analysis:

The marketing mix is the set of actions, or tactics, that a company uses to promote their brand
or product in the market.

The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place.

However, nowadays, the marketing mix increasingly includes several other Ps like
Packaging, Positioning, People and even Politics as vital mix elements.

The 7P’s collectively make up the marketing mix.

The marketing mix is predominantly associated with 7Ps with the 4Ps (Price, Product,
Promotion and Place) being for the product and the other 3Ps for the service marketing.

The marketing mix classification was created by a marketing expert Mr.E.Jerome McCarthy
and the same is being used by B schools across the world

The Marketing Mix 4Ps explained:

Product: A product is something which is used to satisfy the needs of the customer.

Products are a key element in the overall marketing offering. Marketing mix planning begins
with building an offering that brings value to customers.

The product is divided into 5 levels.

1)core, 2) Basic, 3) Augmented, 4) Expected 5) Potential

Our product “Zenith” a motion controlled smart band.

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Product division Explanation

Core The product at its core is a smart band

Basic Features: Gesture control, bone conductor, NFC, smart

watch, flexible build quality
Augmented 1 Year warranty, 24*7 support, 4-day service guarantee.

Expected Smart gestures, Automation, cardless pay, style, safety

Potential Gesture control, Bone conduction calls, NFC pay,

flexibility.

Price:

The price of the product is the amount that a customer pays in order to acquire it or it is the
amount of money charged for a product. Price is a very important component of the
marketing mix.

It is a major factor affecting the buyer’s choice. It is also one of the most flexible marketing
mix decisions.

Here as the is new product in the market, we have opted for Penetration Pricing. This is so as
the product can get a higher penetration into the market and attract more customers. The
increase in sales of the product would help in maintaining the price.

The pricing strategies such as Market skimming are not being used as the products are
launched by a new company rather than a established or a reputed company.

Place:

Product distribution is a highly Important part of a product mix. The product has to be
positioned in such a way that it is accessible to the customer.

In this scenario we have opted a multi-channel distribution with selective distribution and
Online sales so that we reach a larger range of the market share.

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Here the product from the Manufacturer is sent to the distributor and then to the retailer.

The product will also directly be delivered to the customer when booked through the retailers
website.

Promotion:

Promotions are a very important component of a marketing mix as it helps to boosting of

sales and plays a very important part in product recognition and brand building.

The product “Zie” is a smart band which is in a market with high competition.

In this case in order to get the first movers’ advantage we intend to promote the product by

• Providing Pre-booking offers such as early bird discounts,

Also, as promotional strategy the following activities have been planned

• Free samples to Tech-reviewers

• Product Give-aways
• Press release
• Exhibitions

Additionally, in order to understand the customers initial reactions and creating hype the
tactics of “Product Leaks” and image Leaks are considered, this helps in reviewing and
understanding of consumers prior to the launch.

Product: Zie

Tagline intended: Power at your fingertips

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 5C analysis

5C Analysis is a technique used to conduct situation analysis. Conducting a situation analysis

is one of the important steps in identifying the research problem.

A situation analysis involves examining the external environmental factors and internal
organizational capabilities that impact how a company operates

The 5Cs of the customers, collaborators, capabilities, competitors, conditions is one of the
most important aspect of a product marketing.

Company Notes
Strengths Adaptable, strong R&D

Goals Innovation, Novation

Culture Skilled labour, efficiently managed, hard

working
Resources Technology Experience, skills Infrastructure, automation

Customers Notes
Market Size/Segments Working professionals, home makers, Tech-
savvy
Purchasing habits, Trends and buying process regular buyers, liking for new tech,
influential
Overall customer satisfaction Amazed with the development and liking the
ease of work
Perceived value by customers New cutting-edge technology, hard to use

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Collaborators Notes
Suppliers Technology partners for gesture sensors,
bone conductors

Distributors Omnitail, Appario Retail

Alliances and partners Flipkart, google

Competitors Notes
Current and Prospective All smart watch brands, fitness bands

Strengths and weakness Gesture control, bone conductivity, NFC,

Weakness: highly competitive and imitative

Opportunities and threats Opportunities: first mover advantage,
association with reputed brands

Threats: reverse engineering by competitors,

imitable
Product and market share New product in the line of smart bands,

Climate/Environment Notes
Regulations and government oversights Make in India tax subsidies

Social and cultural high-end product, preferring physical device

Business cycle Raw materials priced higher

Inflation and other business factors

Legal Approvals from the government needed on

the technologies used

Technology Gesture control, bone conductivity, thermal

charging

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 Identification of competition
To win in today’s market place, companies must become adept not only in managing
products but also in managing customer relationships to face the determined competition and
a difficult marketing environment. For this they should identify their competitors.

In the recent years the usage of smart watches has increased abundantly. As they reduce the
work and they suit the needs of people. Hence, our product zie being a smart watch faces a lot
of competition in today’s market. The main competitors of this of this product are apple smart
watches, fossil smart watches, mi bands, fit bit versa fitness smart watch, Samsung smart
watches etc...

Comparison of product:

Compared to the above products of competitors our product consists of

various other features that include making payments through near free communication
(NFC), gesture sensor i.e operating doors from the place where you are, bone conductivity
i.e.s receiving phone calls through fingers and charging through body temperature.

Comparison of prices:

As compared to the above-mentioned competitive products our product is

provided with various features at the same price of the competitors.

Strengths and weaknesses of few competitors

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Apple smart watches MI bands Samsung smart
watches
Strengths: Strengths: Strengths:
1. One of the main 1. The main strength 1.The main strength
strengths of this of this product is that of the product is it
product is its brand it is easily compatible has its own flexible
name. to any device. OLED display
2. The existence of 2. The product is technology
loyal customers. price efficient. 2. Produces well
3. The whole value 3. The small dimple designed and eco-
chain is in place button in the glass is friendly product.
used for navigation. 3.Strong patent
portfolios

Weaknesses: Weaknesses: Weaknesses:

1. The main weakness 1.It only gives a good 1.Samsung has no
of the product is its health tracking app store of its own
battery life. 2.No proper display 2. Samsung cannot
2.The cost of the lead in a new
product is high as category.
compared to other
smart watches

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Positioning:

The targeted audience was chosen to be the lecturers and the professionals mainly as
these people have more usage of smart things in their hectic schedule of daily routine. The
main problems these people face in their lives is being disturbed while they in important
work like opening of the door knocked, securing their data, talking in mobile phones for
longer periods etc., for all these problems being faced the only solution is “Zie” the Smart
Band. Zie consists of gesture sensing technology through which they can open or close the
doors just with the gestures of the hand. For example, if the lectures are in class and dealing
with some important topic some students may b late for the class which will disturb the class
so in that case the lecturer can directly open or close the doors with the gestures of his hand
without any disturbances caused.

In the same way the professionals have some important data to be secured and also
lecturers have data like question papers to be kept in a secured folders in their laptops so the
technology NFC helps them in serving this problem as there will be a separate folder for them
to store the files and the folder opens only when the “Zie” is near the device. This would
secure their flies from being copied.

As they have huge work load, they have to communicate to people more on calls
which would damage their eardrums and due the radiations from mobile causes headache and
other head related issues. To address this issue “Zie” is coming with technology called bone
conducting, through which they can take the call by just twisting their wrist and can talk with
just placing their hand near the ear. This even doesn’t hurt the ears of the user even if they
speak for long durations. This is also helpful for the people having hearing problems as this
does deal with eardrums but directly send the frequency to cochlea.

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STRATEGIES TO DEAL WITH COMPETITION:
After identifying our competitors and knowing about them and their products. The next step
is to design a strategy to gain competitive advantage.

There is no one fixed way, companies must follow various procedures in order to gain a
competitive advantage.

Here in order to gain a competitive advantage identify what differentiates the product from
competitors and how unique is that difference.

Know the customer and focus on developing, marketing the product according to the USP.

The Basic competitive strategies that companies can follow are

1) Overall cost leadership: Here the company works to attain the lowest production and
distribution costs.
2) Differentiation: Here the company focusses on making a highly differentiate product,
so as to become the market leader.
3) Focus: Here the company concentrates on serving few market segments rather than
focusing on the complete market.
Here keeping in view of our product we intend to follow the Overall cost leadership model
along with the Differentiation strategy

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References

• https://youtu.be/oHksDAB9vOo
• https://www.jstor.org/stable/1384193?casa_token=kbbLNMXM4t8AAAAA:-
ImqbqpBw0u8MEMMLJzGgAXmrIwm_FeQtHF-XfDGVxNsrzr7-
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tss_XOtuD3&seq=3#metadata_info_tab_contents
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• PRINCIPLES OF MARKETING – PHILLIP KOTKER
• SUPPLEMENTARY MARKETING READING MATERIAL

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