Idea Submission Framework

Team Name: The Eclipse

Team details:

S.no Name SAP ID Contact no.

1. Kavya Agarwal 500075706 8429783768
2. Mridu Agarwal 500074668 7206326294
3. Muskaan Luthra 500074575 6388313762
4. Mayank Singh Napalchyal 500077409 8193018827
5. Kumar Ashutosh 500074587 62025172762

1. Describe the idea and the need of the product/ service/ technology?

The name of the company is Meditating Arts (operating through online website) which will connect small sellers and
retailers who basically sell their products in small villages and Indian local markets. The main idea behind this innovation
is to support the initiative taken by our Honourable PM Narendra Modi of using local products or Indian products
(Swadeshi).

Product: Khadi products as many people generally ignore or don’t prefer it because of unawareness, this includes all
Khadi clothes, local handicrafts, handlooms, Indian arts etc.

Process: Our company will connect people who sell creative arts and crafts materials in smaller and local parts of India.
Special consideration to village women who are excellent in such things and need some support to grow their business.

2. What do you feel is the innovation over an existing solution to the problem that you are trying to address?

There are various problems that we are trying to address in this idea such as unemployment, unawareness among people
regarding use of Khadi products and lack of development of sufficient infrastructure and industries in rural areas. The
main innovation used in this idea is to connect various sellers to rural areas and small villages to sell their products of
good quality and at reasonable price so that people in remote areas can easily afford them which will improve the living
of standard of people living in small villages. Moreover, several industries can be set up in villages of art and craft
materials and women can be employed in those industries to make women feel empowered. The use of khadi products
can be initiated by several advertising campaigns which will help in changing the mindset of Indians as many people
believe that using international products is a status symbol and sign of prestige.

3. Feasibility of the Idea: Viability of idea, pricing strategy, what resources will be used and the cost implications of the
same. What are the risks involved?

 Viability of the idea: As we know that in India there are many craftsmen specially in the backward areas of our
country so we think that this idea of selling the handicraft item In our county and outside the country is very nice.
The workers of our country are very talented and they have the ability to work hard and earn money for there
livelihood. Half of the population of our country doesn’t get work to do and they are not getting food to eat so by
stating up this business they would be able to earn more and more profits and could make the lifestyle better.
 India is already famous for their handicraft work but as Indian’s are only adopting the western culture then how
they will be able to promote their own products. Most of the Indian use chines product so to betray them they
need to promote Indian products and it will help our country to develop.
 Pricing strategy: As the product would be manufactured in our country so the cost to the product of the
members of our country will be low. So firstly, we will keep the genuine prices of the products so that the people
do nt purchase any other product. The quality of the product would be high and the profit margin of the good
will be less. Once the good will build his own brand image in the national and international market then the profit
margin will be increased timely. So, it would be the pricing strategy so that neither the workers will face the
problem nor the costumer will fell that they are paying the unreasonable price.
 Cost implementation: As per the usage of the resources the material which is use to make the product the labour
cost which is consumed to make the product the time invested to make the product the cost of transportation all
these things will be included to know the actual cost of the product and then after adding two or three percent of
the profit to the good then that will be the total price of the good. And if the product is sent to the international
market then import and export duties and many more things will be included in that and then the product would
be sold. The prices of the products will be reasonable and the products will have fixed prices. No bargaining will
be allowed.
 Risk involved: As we know every business involves risk in it. So yes, in this business also there is a risk if the
Indian market will not accept the traditional looks or not. And every time according to the needs of the
costumer’s they need to make some or the other goods in a new form which will be liked by the customer or not.
As this work will be performed by the middle-class people or below poverty line people so might they not be able
to invest so much money to purchase new and expensive equipment for making their product more attractive.
Even in many cities the product made by them might not be liked by the persons so they might face problem.
 Market research: it is must do part of running any online business. Before we start our online business, always do
market research about the product, which you are going to sell. This will help you plan your business strategy in
term of website design, product demand etc. if we are selling multiple category product then you need to make
sure that you decide the parent category and sub-category accordingly. This will not only help us to track your
product easily, but your audience will be able to check out what they really want by going into the relevant
category. The next work in preparing the product catalogue is writing product descriptions. After images a
product description is the next thing which your product. Write enticing product description which explain the
product, quality, material uses dimension etc.

4. Value Proposition: Elaborate the value for the customers and how the idea differentiates itself from rest of the
competition
 As our priority is the quality of the products with the best customer service. Since we have an idea to sell the local
products throughout the country by providing customized products according to their need and USP (Unique Selling
Proposition) is that we provided Virtual AI on our website so the customer can experience the product without buying it.
As we don't have a proper competitor in the market till now as so but e-commerce sites like Amazon and Flipkart can be
considered and they have also occupied a huge market. We will provide an awareness campaign about our products,
their uses, and the benefits of it. This activity will also advertise our products to the public.

It is better to use local products than foreign fancy products this will overall help on developing the economy of our
country.

Business Model Canvas

(6) Key (7) Key (1) Value (4) Customer (2)Customer
Partners Activities Proposition Relationships Segments
 DHL  Availability  Individu
 BlueDart  Presenting of al
 Gati local talent customised  Long term leverage
Limited on global  Personal
products in youth ,
 WeFast stage. assistance.
addition to artists,
 Indian  Traveling  Communiti
to rural already women,
weavers es
 Khadi parts of uploaded  Co-creation home
Udyog India to items on decorato
 On time
 The khadi meet the website. rs
weavers chat will
Cult  Price of the bot for  Age= 20
 Small and
products guidance. to 50
shops connect
with them. will be
 Personalise  Global
selling considerabl
 Promoting d products. consume
swadeshi
skilled y low and r market
products  separate
(related to weavers major part  Bulk
grievance
handicrafts and artists will be Buy
from portal.
) distributed  Retailers
different  Regular
 Jio Mart to the (Future
corners of notification
 Amazon weavers Scope)
India. on new
 Providing a and
products
complete artisans of
 range of India. launch.
exclusive  Only  Special
Indian products discounts in
handicrafts
from the special
and khadi
products. famous seasons.
 Expanding local  Regular
the markets, feedback
business in Khadi through
the major Udyog, etc mail and
parts of US will be messages.
and other
available.
countries
after  People can
successfully directly
establishing contact the
business in seller and
India. tell them
their
specificatio
ns.
 All data
related to
customer
purchases
will be
stored on
blockchain
network so
that
privacy and
security is
maintained.
 Delivery of
the
products
will be
done in
maximum
of 3 days
after is
shipping.
 We craft
products
for the
memories
 of lifetime.

(9) Cost (8) Key (5)Reven (1) Channels

Structure Resources ue
 Website
Streams  Telephone
 Website
hosting and Calling
 Art gallery
developme Sellers  Mobile
options
nt Weavers application
 Commissio s
 Delivery Artisans n on
System Khadi  Affiliates
reseller
 Inventory weavers sales, sale
Manageme Handlooms of assets
nt Handicrafts  Advertisem
 Salaries of ents
company
employers  Informatio
(team) local market
owners. n selling
Diya makers Acquisition
s and
investments