Professional Documents
Culture Documents
Mini Project 2
Mini Project 2
Mini Project 2
A
MINI PROJECT REPORT
On
AN INNOVATIVE PRODUCT - SMART BAND
MASTER OF BUSINESS
ADMINISTRATION
By
STUDENT’S DECLARATION
I hereby declare that the survey, data collection and analysis work
related to Mini Project report titled "AN INNOVATIVE PRODUCT
- SMART BAND ‖
I, further declare that this work was neither published nor submitted
to any other institution for award of any other degree or diploma.
(Signature)
MANSI GUPTA
Roll no. 2210020
GNIT COLLEGE OF MANAGEMENT , Gr. Noida
Day/month/year
3
DIRECTOR’S CERTIFICATE
This is to certify that the mini project titled “AN INNOVATIVE PRODUCT -
SMART BAND ” is carried out by MANSI GUPTA , a student of MBA – I
year at GNIT college of management , Gr. Noida, under the supervision of DR.
SURESH SHARMA This is an original work carried out by the said student to
the best of my knowledge and I recommend for the submission of this Research
Project report to Dr. A. P. J. Abdul Kalam Technical University, Lucknow in
the partial fulfillment of the requirement for the award of MBA degree.
( DIRECTOR)
GNIT, Gr. Noida
Date:
4
ACKNOWLEDGEMENT
This project is the outcome of sincere efforts, hard work and constant guidance of not only
me but a number of individuals. First and foremost, I would like to thank GNIT, GREATER
NOIDA for giving me the platform to work with such a prestigious company in the financial
sector. I am thankful to my faculty guide DR. SURESH SHARMA for providing me help and
support throughout the Project Report period.
I owe a debt of gratitude to my faculty guide who not only gave me valuable inputs about
the industry but was a continuous source of inspiration during these months, without whom
this Project was never such a great success.
Last but not the least I would like to thank all my Faculty members, friends and family
members who have helped me directly or indirectly in the completion of the project.
MANSI GUPTA
Roll no. 2210020
5
TABLE OF CONTENTS
CHAPTER NO TITLE
1. Preface
2. Acknowledgement
3. Introduction
4. Industry review
5. Methodology
6. Product description
7. Feasibility
8. Analysis
9. Limitations
10. References
11. Appendix
6
CHAPTER 1: INTRODUCTION
Background
There is nothing more beautiful in this world than toddler’s smile or watching them discover
something new.
The historical backdrop of toddlers has been a subject of interest in social history since the
Philippe Ariès in 1960. He contended "childhood" as an idea was made by current culture.
Ariès examined works of art, tombstones, furniture, and school records. He found before the
Parents are too emotional physically or mentally in taking care of the small child. As we all
know, Mothers always used to engaged in household work, so it was very difficult to
concentrate on the child. Mothers were always afraid of when their child started touching or
putting something unknown. If the children are learning at a young age, then they do not
know how dangerous which thing is and the parents were unable to pay attention to the child
due to their busy schedule. There were many times when the child was ill and parents did not
even know. Well, time slowly grew up and parents have started working in today's time for
their child’s bright future and started leaving their child in the belief of nannies. But people
had to face a lot of trouble in that too. After the parents leave, they do not pay attention to the
child and the child starts touching dangerous things many times, which makes the child
Different researchers have accentuated how archaic and early current youngster raising was
impassive, careless, nor merciless. Wilson contends that with regards to pre-mechanical
neediness, real child rearing raising practices addressed proper conduct in the conditions. He
penances by guardians to boost kid government assistance, and a wide clique of youth in
strict practice.
In 2014, Ruth Feldman, a researcher in Israel and at the Yale School of Medicine,
conducted an experiment with her colleagues. They went into the homes of 89 new parents
and collected samples of oxytocin (the bonding hormone), and they recorded videos of
parents interacting with their newborns. Later, the researchers put the parents in a functional
MRI machine and replayed their videos back to them, observing which parts of parents’
brains ―lit up‖ when they saw their own infants versus videos of unrelated babies.
The researchers found two main regions of the brain particularly active in new parents, both
moms and dads. The first is the ―emotion-processing network.‖ This is located centrally in
the brain and it developed earlier in evolution than the neocortex. It involves the limbic, or
The amygdala, which makes us vigilant and highly focused on the safety and survival of our
newborns.
The dopamine system, which rewards us with a squirt of the feel-good hormone to keep us
All together, this network creates more emotions in parents for their own newborns. Other
researchers, Laura Glynn and Curt Sandman, add that these regions actually grow in density
8
(or gray matter) in new mothers, and that that growth is associated with more positive
Rational of Study
Toddlers are those kids who are in their growing age experiencing every detail of life from
eating speaking , walking , etc. These children tend to touch every other object as it’s a sign
that they are growing up. Babies tend to touch every object as they explore the world around
them by the sense of touching only. They gather information by touching different objects so
parents should never deny their children from doing such things which makes them happy
and enhances their development. However, as evident in these modern days both parent stay
busy so its very hard to keep a watch on the child that’s why people appoint nannies to take
care of their kids specially as they may touch any hazardous object also which can be
dangerous. But now all worries of the parents will be finished as a smart band for toddlers
will be introduced which will make the parent aware of any kind of dangerous instance
This band will be tied in the hands of the kid , there will be sensors which could detect if he
or she is approaching fire or touches any electrical appliance or socket in open condition or if
the child tends to climb the balcony and raises his head. The band will relate to the guardians
through Bluetooth facility and can send them a SOS message so that appropriate action cam
be taken. A complete marketing strategy will be designed to sell this product in the market so
Competitive Information
The theory of competitive advantage is defined as an approach for sales and marketing
process in which the focus of any organisation will be to produce and deliver high quality
products at a competitive cost. To keep the cost low , the available resources should be used
which can be made available locally within the country and there is no need to get it
imported. When the resources get dependent on a specific geographical location then it
becomes hard to maintain low cost of product. The focus to deliver quality products can be
made by producing a product which is better then the competitors available in the industry , a
different approach is required to establish that better quality can also come with an affordable
price as compared to those other competitors who sell inferior quality products at damn
cheap prices. Consumer satisfaction can only be attained by delivering quality products as
nowadays the client is very knowledgeable. He already has different options of products in
his mind , does the research and development to buy the product which suits his budget and
As the product which will be introduced in market has hardly any competitor as of now but
surely once the product is launched more companies will come up trying to build more
innovative product. Hence its essential to know who the direct and indirect competitors are.
There could be some companies who would be selling the same kind of product at a cheaper
price to the same target audience which the smart band for toddlers is approaching. However,
the companies which sell smart watches can serve as indirect competitor as it might not take
too many efforts to inbuilt an additional feature to assist the parents(Ward, 2016).
10
UP by Jawbone
Fig. 2.1.1
UP4 by Jawbone is a model wrist band that uses bio-impedance sensors to catch signals, for
example, pulse, developments, internal heat level, and galvanic skin reaction (GSR). It can
latently track and record client exercises, for example, strolling and running and furthermore
has the capacity of rest observing. There are five bio-impedance sensors situated on the
inward side of the band that measure the opposition of the skin tissues to ascertain pulse.
(separate sensors for skin temperature and encompassing temperature). Being a wrist band
11
UP4 doesn't have a screen. The information is noticeable through the cell phone application
that is accessible for the two iOS and Android. Through NFC, UP4 permits to make
Like most shrewd watches, UP4 wrist band utilizes a battery of type Li-Poly with a limit of
38 mAh that is professed to support for 7-8 days without charging. Nonetheless, we feature
that contrasted with savvy watches, wrist groups have batteries with less limit as they don't
have huge presentation screens. Being an exclusive stage that doesn't permit third gatherings
to create applications, subtleties are less thought about UP4's working framework and the
CPUs utilized.
Significant impediment of UP4 includes its failure to gauge constant pulse as there is no
optical pulse sensor. All things being equal, it estimates two kinds of pulses; resting pulse
also, inactive pulse. Resting pulse is the estimation taken not long before the wearer gets up
in the first part of the day and aloof pulse is estimated indiscriminately times during the day
at the point when the wearer is standing by. While these two estimations give a decent sign of
one's overall medical issue, at times it is imperative to cheer up rate estimations during
exercise meetings which isn't upheld by UP4 and is a limit of bio-impedance sensors.
Nymi band
Nymi conveys a wearable, multifaceted authenticator gadget that improves security and
environment wearable to build efficiency, security, and wellbeing and wellbeing challenges
Fig 2.1.2
Wearable multifaceted authenticator gadget for drug fabricating offices Nymi's biometric-
based client verification working environment wearable, the Nymi Band tends to basic
This imaginative wearable gadget guarantees that staff are constantly validated all through
their workday. This furnishes an undertaking and its controllers with certifiable virtual
endorsements to verify activities acted underway and research facility settings. Multifaceted
13
biometric confirmation likewise guarantees that each Nymi Band just works while on the
Administrator logins and online endorsements are a critical territory for profitability
administrator work process. Nymi Band and the Nymi Enterprise Edition offers secure,
remote confirmation to trade the requirement for passwords and paper marks. Logins are
supplanted with a solitary activity that requires a couple of moments. This builds
The time saved by lessening login times and eliminating client verification mistakes (fizzled
conditions.
Nymi Band clients have ceaseless verification that is completely utilitarian when wearing
Market segmentation
Market segmentation is a marketing model which separates the entire market set up into
inclination.A market segment includes of people who believe on the identical areas and have
comparable concerns. The basis of this segmentation lies in selecting the gender , age group,
income divisions like high low and middle standards , marital status and sometimes the
occupation also matters. The marketing segmentation for smart band for toddlers will look
14
for the young parents who are parenting their kids (1-3 years) and the marketing strategy
The smart band will be focussed on psychographic segmentation in which the lifestyle of
people will be the focus. The parents lifestyle will be the core of the marketing strategy ,
their attitude of saving their kid from every hazard of the world will pursue them to buy the
product. The company will also focus on the customers who are loyal towards Apple and are
using this product since many years. Collaboration with Apple watches will give a key
advantage to smart band as partnership with a world-famous brand can always help a new
behaviouristic segmentation where the customers loyalty towards a brand will be the area of
focus.
Brand Positioning
Brand positioning is the process of positioning the brand in the minds of the client. The aim
is to generate a distinctive sense in the consumer's mind so that the client connects
something special and attractive with the brand that is different from rest of the market. To
enable the brand in the market , a brand positioning statement is required to create an initial
awareness in the mind of the customer. It can be a slogan that distinguishes the product from
The next step in this strategy is to identify the direct competitors who pose a direct thereat
for this brand. In this context the direct competitors can be the companies who can introduce
15
a similar kind of product at cheap prices. To withstand the need to establish the brand in the
market its important to know how the smart band differentiates itself from others. As its an
innovative product , as of now there is no major competitor who has this idea of introducing
a product. It should also know whether the mothers are willing to buy the product or not, that
is knowing their perceptions. This product is focussed on parents who are raising their
toddlers, so the target audience is fixed. Of course, the product motivates the parents who are
willing to know whether their kid is safe or not at home. This product delivers a quality
which will ensure a long-term success for this brand. Collaborating with a brand like Apple
will establish the brand in the industry which will minimise the possibility of other
The consumer Adoption process is a tactic to make cognizant of a product, generate concern
amongst the consumers, arrange a testing run to verify how the product is working and at the
end permitting the clients to embrace the product. This approach will never alter regardless
of expertise change, market situation changes or of any kind. In this modern world , the
consumer has become very smart and intelligent on what he or she requires so it becomes
very important to devise an innovative strategy to sell the product. In this scenario to sell the
should be done . The smart band can be promoted through advertisements in different
Interest of Product: The smart band will have to create an interest in the minds of the
consumer, and it can be done through internet , social media , retailer, or the current
Evaluation of Product: The parents who are the target audience will compare the smart band
with other products which are available in the market however as of now there is no major
competition.
Trial of the Product: The smart band needs to be tried on a set of consumers and feedback
needs to be gathered from the retailers who are selling this product in the market.
Product adoption: The smart band has been promoted enough and the feedback has also been
gathered from a set of consumers who used it. Now it is time to launch the smart band in the
entire market.
The full adoption process may take time from few weeks to some months in which the
promotion process will create an awareness in the minds of the consumer so that they can
+
17
CHAPTER 3: METHODOLOGY
3.1 Introduction
The main effectiveness of this chapter is that it reflects the type of tools and techniques
employed for conducting the study. The present research focuses on determining the
effectiveness of the different social media applications and its role in international business
management. Further, for attaining the aim of the research different methodological tools
have been selected. Researcher has focused on obtaining both primary and secondary
information and through this it has become possible to gather adequate amount of
Research design is mainly regarded as the methods and framework selected by the
researcher. Mainly with the help of research design it becomes possible for the investigator to
understand about the type of research like whether it is survey, correlational or any other
(Mohajan, 2018). Generally, when the research design is impactful then it creates minimum
18
bias in the data and at the same time level of trust increases in the accuracy of the collected
data. Mainly some essential elements of research design are present and they are very crucial.
The key elements are methods applied for analyzing the collected details, timeline, purpose
statement of the research, methods for collecting and analyzing the overall research and at
last measurement of the analysis. Selection of right research design helps a lot in attaining the
etc. In the case of descriptive design researcher mainly focuses on describing the situation
and this type of design is theory based that is mainly developed by analyzing, gathering and
presenting the data in a systematic manner (Ørngreen and Levinsen, 2017). Experimental
design helps a lot in establishing the relationship between cause and effect of a situation.
Through this design it is possible to understand the impact caused by independent variable on
the dependent one. Explanatory design utilizes the thoughts and ideas on the particular
In the current investigation descriptive design has been selected by the researcher. Mainly,
with the help of this design researcher has focused on describing the effectiveness of the
social media applications for the global firms. It is possible for the readers to understand
about the pros and cons of social media and accordingly businesses at international level can
utilize various platforms for their benefit. Other designs are not applicable in the current
Research approach highlights the plan and procedures for the research that spans steps from
the broad assumptions to the detailed technique of data collection, analysis and interpretation.
Research approach is mainly segregated into three main types that involves inductive,
deductive and abductive. All these approaches differ from each other. In the inductive
approach the study moves from specific to general form, in deductive one it is vice versa and
Echeimberg, and Leone, 2018). With the assistance of inductive approach it is possible to
explore phenomenon and at the same time themes are formed. In deductive approach data
collection is mainly utilized for evaluating the propositions and at last in abductive approach
In the current investigation researcher has focused on selection of inductive approach and it
is directly applicable in the present study. Research has been carried out specifically for the
international firms operating in UK. Different international companies have been selected for
carrying out investigation and the findings of the research are applicable to the other
international businesses also operating in the market. In this case inductive approach is
beneficial as through the data collection researcher has focused on development of the
themes that represents the key results. On the basis of data collected researcher has formed
conceptual framework and it is highly beneficial for the entire investigation. Mainly
deductive and abductive approaches are not applicable in the current study considering their
attributes and along with this evaluation of the existing theory is not required in the present
research.
20
This area is most important in the research where information is collected so as to attain the
key objectives associated with the study. Further, the two main sources of data collection are
selected for the investigation. Primary information is collected for the first time and data is
not at all utilized in any other investigation (Basias and Pollalis, 2018). Primary data source
is regarded to be more reliable in comparison with the secondary one as the former
information is collected from the reliable and trusted source. The main sources of obtaining
primary information are interview, survey, observation, focus group etc. All these techniques
support a lot in obtaining up to date and reliable data. On the other hand, secondary data
sources are present that involves books, journals and online articles. This kind of information
is already published and utilized in different research. In short, the research done on the same
topic by different authors is taken into consideration in the case of secondary data collection.
In the current investigation researcher has focused on considering both the sources of data
collection. Primary information has been obtained with the help of survey. Researcher has
designed questionnaire that involves both open and close ended questions. International
companies operating in the UK market have been taken into consideration for obtaining
primary data. Questions have been framed keeping in view the social media usage of the
international firms. With the assistance of survey it has become possible to know how social
media applications are utilized by international firms and the kind of benefits they are able to
On the other hand, secondary sources have been taken into consideration. The key sources
from where data has been obtained involve online publications, books and journals. These
21
sources have supported in knowing about the pros and cons of the social media applications
and their effectiveness for the international businesses operating in the market.
3.5 Sampling
This part is associated with selection of respondents from whom information is collected in
the research. Selecting right respondent for obtaining data is most valuable in the study as it
helps a lot in attaining the research objectives. Two main sampling techniques are probability
and non probability (Kumar, 2018). In the probability sampling technique the key methods
are simple random, systematic, stratified and cluster. In the simple random technique every
individual in the population has equal chance of being selected. In systematic technique
individuals in the population are selected at regular interval, in stratified sampling individuals
are divided in group and in cluster sampling population is mainly divided into subgroups.
On the other hand, in non probability sampling technique the key methods are convenience,
respondents are selected on the basis of their convenience or as per their availability. In quota
sampling interviewers are given quota of subjects, in judgement sampling main area of focus
Considering the current investigation researcher has focused on adoption of non probability
sampling technique where convenience sampling method has been adopted. Data has been
obtained from the marketing managers of 20 different companies where 5 managers have
been selected. So, total sample size is 100 individuals and they have been approached on the
basis of their availability. Hence convenience sampling technique is highly effective for the
present investigation.
22
This area is linked with analyzing information so as to know about the results obtained from
conducting the investigation. Two main techniques of data analysis are qualitative and
quantitative and they represent the results obtained from the research. In the qualitative
technique content analysis is carried out where the information is present in non numeric
form. In this type of data analysis technique themes are formed that represents the actual
results (Basias and Pollalis, 2018). On the other hand, quantitative technique is somehow
different and in this type of data analysis technique statistical methods are undertaken for
analyzing information. For analyzing the data computation of mean, mode, median etc takes
place and this supports a lot in knowing about the results obtained.
Considering the present investigation researcher has utilized qualitative technique. Results of
the survey have been represented by forming themes and at the same time content analysis
has been carried out. Information has been represented with the help of charts such as bar, pie
etc and along with the responses of the respondents have been recorded in the table. So, this
is the technique that has been utilized for presenting the information in the research.
Research type mainly supports in knowing about the nature of the study. The main research
types are qualitative and quantitative. Mainly the qualitative research is utilized so as to gain
understanding about the motivations and opinions (Kumar, 2018). The best part of this type
of research is that it helps in providing insights into the issues for the development of the
ideas or the hypothesis and in turn the entire research is carried out in a systematic manner
through this. The data collection methods that are utilized in the qualitative study are
interview, observation etc and they support in obtaining adequate amount of data.
23
On the other hand, quantitative research is somehow different where it is based on the
numerical data. Main motive of this type of research is to identify the behavior, attitude,
opinion etc of the people. In this type of research measurable data is utilized for formulating
the facts. Survey is one of the main technique through which quantitative data is obtained.
The current investigation is quantitative in nature where data has been obtained with the help
of survey and at the same time numerical information has been collected through this
technique. With the help of numerical information it has become possible to know about the
data has been presented by forming charts such as pie, bar etc and through this readers can
Limitations in the research represent the attributes of design or the methodology that
influences the interpretation or the key findings of the investigation (Kumar, 2018). Further,
limitations are mainly the constraints associated with the investigation. In the current
investigation also certain limitations are present. One of the main limitations is time where
researcher has to obtain primary data from the different companies and it is time consuming
process. Sometime the managers of the firm are unable to devote time from their busy
schedule and their participation in the research becomes difficult. Hence, time is one of the
main limitations associated with the present investigation. Another main limitation is cost
where in the various areas cost is incurred such as conducting survey, approaching individual
participants etc. So, cost is also the key limitation associated with the study.
investigation. The secondary sources on the topic selected were limited and this hampered
24
the data collection process. Therefore, these are some of the main limitations that are
Ethics play most important role in the research as it represents what is right and wrong.
Certain ethical norms are present in the research such as securing the data of the research, no
disclosing the information of the participants to the third parties etc. It is highly important or
valuable to adhere to the ethical norms as it helps in promoting the aim of the study such as
In the current investigation researcher has strongly focused on managing ethics. Certain
ethical issues have been raised in the study as researcher has obtained primary information
from the managers and in this case managers do not prefer to share confidential information
of their company. Hence, this ethical issue is managed or tackled by the researcher by storing
and securing the confidential information in a private place. IT systems have been utilized for
storing information and this has supported in avoiding the ethical issue.
Secondly, secondary information sources have been considered for data collection and it has
been ensured by the researcher that all the sources are taken from the reliable sources and
they are newly published also. Sources that have been published after the year 2015 have
3.10 conclusion
Hence, all the research methodological tools have been selected on the basis of nature of the
study. Further, both primary and secondary sources of data collection have been considered
by the researcher and this has supported in obtaining adequate amount of data. Additionally,
25
data analysis technique is qualitative where thematic method has been adopted. By applying
all the methodological tools in an appropriate manner it has become possible to attain the
Wrist bands are the other popular category of wrist-worn wearable devices. While there are
similarities with smart watches, wrist bands are designed specifically to track a focused set of
health and fitness activities. As a result, most wrist bands do not have a display screen for
notifications or have a limited form factor compared to smart watches that aim at replacing
It is the band that utilizes bio-impedance sensors to capture signals such as heart
rate,movements, body temperature, and galvanic skin response(GSR). It can passively track
and record user activities such aswalking and running and also has the ability of sleep
monitoring.
There are three different sensors located on the innerside of the band that measure the
temperature around the user, position of the user and hazardous object nearby users. Being a
26
wristband it does not have a screen. The data is visible via thesmartphone app that is
available for both iOS and Android.Similar to most smart watches, this wrist band will use
abattery of type Li-Poly with a capacity of 38 mAh that isclaimed to sustain for 7-8 days
without charging. However, wehighlight that compared to smart watches, wrist bands
havebatteries with less capacity as they don’t have large displayscreens. Being a proprietary
platform that does not allow thirdparties to develop applications, details are less known
Unlike smart watches which usually come with an operating system,wrist bands are more
designed as embedded systems and somehardware details about them are not publicly
available.
The three different sensors which are embedded inside the wrist band are as follows
Temperature sensors
parameters and provide signals to the inputs of control and display devices. They are devices
to measure temperature readings through electrical signals. The sensor is made up of two
temperature within any equipment used to make anything from medicine to beer. To produce
these types of content, the accuracy and responsiveness of the temperature and temperature
control are critical to ensuring the end product is perfect. Temperature is the most common
ensuring the success of these processes. There are many applications that are not-so-obvious,
27
which use temperature sensors. Melting chocolate, using a blast furnace, controlling a hot air
balloon, freezing substances in a lab, running a motor vehicle, and firing a kiln.
Temperature sensors come in different forms, which are used for different methods of
temperature management. There are two categories of temperature sensors which are contact
measures the temperature by the resistance of the RTD element with the temperature. The
metal can be made of different materials including platinum, nickel, or copper. However,
The Thermocouple is a sensor made up of two wires with two different metals connected at
two points. The voltage between the two wires reflects the change in temperature. Although
the accuracy can be slightly lower than an RTD, they have the most extensive temperature
The thermistor displays a precise, predictable, and large change in the alteration of various
temperatures. With this large change, it means the temperatures are reflected very fast but
also very accurately. With this large and fast nature, the NTC thermistor does require
mercury-filled glass tube. However, there are several types of thermometers available: Glass
Thermometer: as above mercury/ ethanol glass tube. Ethanol is now the main liquid used in
28
these thermometers.
Bi-Metal Thermometer: this thermometer type consists of a connected gauge and stem. The
tip of the sensor has a spring that is attached to a rod, leading up to the gauge needle. The
spring sits inside the stems sensing end. When heat is applied to the sensing coil, movement
in the coil is created which causes the needle in the gauge to move – thus displaying the
temperature.
Gas-filled & Liquid Thermometer: These thermometers are similar in terms of how they
work. There is a bulb either filled with gas or liquid. This is situated inside the sensing end of
the probe. When heated, the gas expands/liquid heats up which signals the attached rod to
resistance temperature detector (RTD). The temperature is measured using the probe (sensing
Motion sensor
A motion sensor (or motion detector) is an electronic device that is designed to detect and
measure movement. Motion sensors are used primarily in home and business security
systems, but they can also be found in phones, paper towel dispensers, game consoles, and
virtual reality systems. Unlike many other types of sensors (which can be handheld and
isolated), motion sensors are typically embedded systems with three major components:
a sensor unit, an embedded computer, and hardware (or the mechanical component). These
three parts vary in size and configuration, as motion sensors can be customized to perform
29
highly specific functions. For example, motion sensors can be used to activate floodlights,
trigger audible alarms, activate switches, and even alert the police.
There are two types of motion sensors: active motion sensors and passive motion
sensors. Active sensors have both a transmitter and a receiver. This type of sensor detects
motion by measuring changes in the amount of sound or radiation reflecting back into the
receiver. When an object interrupts or alters the sensor’s field, an electric pulse is sent to the
embedded computer, which in turn interacts with the mechanical component. The most
common type of active motion detector uses ultrasonic sensor technology; these motion
sensors emit sound waves to detect the presence of objects. There are also microwave sensors
(which emit microwave radiation), and tomographic sensors (which transmit and receive
radio waves)
Unlike an active motion sensor, a passive motion sensor does not have a transmitter. Instead
of measuring a constant reflection, the sensor detects motion based on a perceived increase of
30
radiation in its environment. The most widely used type of passive motion sensor in home
security systems is the passive infrared (PIR) sensor. The PIR sensor is designed to detect the
infrared radiation emitted naturally from the human body. The receiver is contained in a filter
that only allows infrared to pass through it. When a person walks into the PIR sensor’s field
of detection, the difference in radiation creates a positive charge within the receiver; this
perceived change causes the sensing unit to send electrical data to the embedded computer
CHAPTER 5: FEASIBLITY
Pricing strategies
The blend of new and old practices, such as antiquated propensities, new life-cycle climate,
hierarchical changes, and mounting guidelines, has expanded the intricacy of the item
improvement endeavors. The intricacy results from five fundamental sources: inborn item
furthermore, network intricacy, and a labyrinth of particulars counting global guidelines and
security. In the course of recent years, varieties, assortments and intricacies of new item
unpredictable." While simultaneously, the time to showcase angle has contracted (Prasad,
31
assembling, economy, and new advancement), and worldwide intensity are making the
timeto- market a quick contracting objective. Today, an vehicle – with intricacy a few times
higher than previously – can be produced in less time (regularly under three years). The
equivalent item, about a large portion of 10 years prior, used to take more than five years to
bring into the commercial center. While, its intricacy ten years prior, by the present norm,
consistently abbreviated the time between new item presentations. In 1985, when another
focal preparing (CPU) was presented, it was very imaginative – yet was no place near the
present standard in intricacy. Like clockwork from that point, another CPU, twice as
perplexing was presented at multiple times the presentation at generally a large portion of the
cost. In 1988, a four times as mind boggling furthermore, multiple times quicker CPU was
presented at a quarter of the cost in a year time frame. In 1990, the improvement cycle for
another multiple times quicker CPU was presented in just a multi month period of time
almost at 1/sixteenth of its 1985 cost. This sort of pattern continues for some different items
too. The normal improvement time for a reduced circle (CD) player today is nine months, a
framework goes from two to four years.Among the web of such intricacy, it is barely
noticeable that the prerequisites of the client are likewise evolvingcontinually. The client is
likewise getting moremodern. Each time an organization satisfies the client needs in an item,
the degree of clients' assumption likewise climbs an indent. They request tweaked items all
the more intently directed to their own, social and social tastes. The equivalent is valid for the
32
assumptions forthe exhibition pointers talked about by Prasad (1996). Items go downhill
rapidly, clients' energies disappear, and requests decrease. There is an extraordinary threat
that an item presented following not many long periods of its improvement may not stay
alluring for the market that existed at the dispatch time. Deliberately, presenting new items at
successive spans is additionally not a decent business arrangement. New items require
critical interests in upgrade, retooling and producing costs. Improvement costs comprise for
the most part of uses for representatives, uphold staff and testing. These costs will in general
increment relatively with the general time taken to finish the plan. Consequently, most
makers have focussed on shortening the time taken for new models to be planned and tried.
Toyota, for instance, has focused on diminishing the normal improvement season of its
autofrom 30 months to year and a half by this year-end. US Department of Defense (DOD)
simultaneous designing (CE) as an empowering innovation that can help conceivably bring
down turn of events and operational expenses while fittingly overseeing the moving target.
New item acquaintance is comparative with the improvement part of progress the executives
Fundamentals book – Volume I (Prasad, 1996). The item acknowledgment measure in new
item presentation includes iterative and various consolidation of changes across various
components of the end item, including all parts of life cycle contemplations. These are:
concurrent change the board from its underlying stage; life cycle design the board; and
33
inclusions of a few "new apparatuses and innovation" along the route in item and cycle
zones. The concurrence supports adherence to add up to quality the executives and other
consistent cycle improvement change methods of reasoning. Such adherence necessitates that
a reasoning of progress be kept up to give a premise to the item going through persistent
change. A shortcoming of new item presentation is the passed time needed to put up the item
for sale to the public. Numerous producing organizations are losing the serious race around
there to the fast and viable execution measure which other fruitful organizations (for
Simultaneous designing gives an approach to bring the item into the commercial center early.
Those organizations that carry their item into the commercial center before their rivals,
wrestle away a bigger portion of the commercial center. Moderate to-showcase or moderate
conditions power producers incidentally to lose piece of the overall industry to their rivals.
Similarly as with the "huge 3" (Ford, GM and Chrysler auto producers in USA) the little van
and medium size vehicle truck market were intensely thought little of in the mid 1990s. This
made customers sit tight for the smaller than normal van, or purchase little vans and trucks
from the contenders. Sports vehicles with convertible tops were additionally thought little of
for 1994 deals of the Ford Mustang and GM Pontiac TransAm.Let us denote the sales
34
Fig 5.1
Se (t) = sales volume of company E, which introduced its products early to the marketplace.
Si(t) = sales volume of company L, which introduced its products late to the marketplace.―e‖
and ―i‖ are prefixes in the above nomenclatures come from ―early‖ and ―late.‖ t = 0; when
Market share is the ratio of the sales volume of particular company to the total sales of all
thecompanies, which are producing competitiveproducts for that market. The total sales
Piece of the overall industry is the proportion of the business volume of a specific
organization to the absolute deals of all the organizations, which are delivering serious items
for that market. The complete deals are comparable to the complete utilization of a part of
The organization E had a 100% piece of the pie up to time T. After time T, organization L
presented its item and the market was shared between the two organizations. On the off
chance that the organization E were overseen effectively, it could in any case appreciate
higher pieces of the overall industry. The prior an item is presented by an organization, the
better are its possibilities for accomplishing and holding a bigger piece of the overall
industry. How long such pieces of the overall industry stay strong relies upon numerous
variables that are examined in the later piece of this paper. On the off chance that the clients
36
have acknowledged critical profitability upgrades with this early presentation of the items
into their association, they tend to keep utilizing it and put more into it. This will in general
have an extremely beneficial outcome on the subsequent deals volume of the organization E.
When another serious item was presented by a contender, organization E had just caught
This is shown in Equations (1) and (2). The locked insales volume at time T is as follows:
The business life of the item is likewise expanded by a timeframe T because of early
presentation. On the other hand, a one month slip in productintroduction (or advancement
delay) is one less month of deal. The second advantage of early presentation isthe cost and
cost favorable circumstances. The greater part of thebenefits from effective items are figured
it outahead of schedule after their presentation (see Figure 5). There are numerous
perspectives to what a cost is. In this paper, a direct perspective on cost is utilized for
effortlessness. Cost, from the viewpoint of the merchant, is seen in this paper as the amount
of the expenses caused in plan and creation in addition to a sensible increase edge or
benefit.In generalthe selling price of the product is several times its manufacturing cost:
Fig 5.2
Figure 5.2 shows conceptually the plots of the unitcosts and market price of a product
introducedby companies E and L and drawn against time.For the purpose of discussion, let us
denote:
L. Thus:
In the above conditions, it is expected to be that the improvement costs are unitized. In the
nonattendance of genuine expenses, an organization can gauge these "unitized costs" in light
of either some anticipated deals volume, statistical surveying, or from authentic information
for an item being supplanted. At the point when an item is presented late on the lookout,
most such organizations keep its (item) value lower than what their initial rivals are
In Figure 5, it is additionally accepted that because of rivalry, costs of the items can't be set
extremely far separated. The opposition has constrained the two organizations to set an
extremely "serious" cost of their items. This is interpreted as meaning that costs of the items
are near each other to a moment that the items are thought of to follow a "solitary value
bend" line called "market value" P(t). Cost bit of leeway of ahead of schedule presentation
with unit offer of the item is hence given by the accompanying articulation:
Absolute expense of the items can be gotten by increasing the business volume and the unit
item cost. At the point when another item is presented (that is during an underlying period 0
< t< T), thereis typically no or almost no opposition. The organization has seriously
estimating opportunity and subsequently can summon better benefits edges. The absolute net
revenues (TPM) of the two organizations would thus be able to be communicated as follows:
At time t<T;
t<T (10)
TPM for company L = 0; for t<T, since theproduct does not exist.DuringT<t<Tlife, total
t>T (11)and total profit margins for company L at anytime after t>T are:
t>T. (12)
If the sales volumes are the same for both E andL companies (say S),
where the figure in the bracket represents thecost advantage of early introduction for a
singleunit of the product.Figure 5 shows that market cost of the item, P (t), diminishes with
time, which is typical to expect in a serious climate. The outcome is that after time T, the
expense advantage hole between the early and late presentations limits consistently. There is
as yet an expense advantage between the two; nonetheless; the TPA hole is more modest.
Besides, there could be auxiliary advantages of being first, like early obtaining of the
assembling ability or being ahead in the expectation to learn and adapt. Different advantages
incorporate having the opportunity to respond for market change, or respond to change in
item center, and so on For certain items that have high exchanging costs, the advantages of
early presentation are even bigger. Other than the undeniable expense advantage, which
comes from early presentations, it has the capability of acquiring clients who keep up their
devotion because of the innate expense trouble of changing to other serious items.
Their dedication regularly makes a leftover deal trail, which can remain genuinely uniform.
Leftover deals trail is the base deals volumes, if no newsales were made after time t > T. In
the event that an organization new deals projection is superimposed over its leftover deals
characteristic, it gives what most extreme deals volume organization E can anticipate. Thusly
an early presentation gathers deals speed, which is brought through the later piece of its
lifecycle.
As indicated by McKinsey and Co. (Musselwhilte, 1990), a cutting edge item that arrives at
the market a half year late, even on financial plan, will acquire 33% less benefit more than
five years. On the other hand, completing on schedule, however 50% over financial plan, will
The cumulative profit margin over a period oftime (t= Tn) can be obtained by integrating
t= Tn
Company E: (R&P)
t=0
t = Tn
t=0
In any case, there are numerous circumstances that may influence the business volume life-
cycle bend. Monetary factors, market patterns and item quality are a portion of the significant
models. Financial factors like downturn, high expansion, or on the other hand high loan costs
can change (increment or decline) the item's life cycle as far as deals volume. Market patterns
like yearly occasional patterns or prevailing fashions could likewise extend orshorten the
business volumes. A model is garments styles, which are typically brief. Most significantly,
the impact of value or "saw nature of the item" can have a ton of impact in deciding its
42
business volume. This is talked about at a more prominent length in the "Conversation"
The pattern for income, as demonstrated through the conditions (17) and (18), ordinarily
follows a profile of a S-bend. This is appeared in Figure 6 for both market development and a
market decrease. Each follows a S-bend pattern. Together theystructure a ringer shape. In
Figure 6(bottom chart) two chime bends are appeared; one ringer bend is forthe income when
an early (or on-schedule) market section; and the other chime bend is for a postponed market
passage. In the development S-bend case, the pace of development is delayed first and
foremost, increments quickly in the center zone and afterward once more eases back down as
it arrives at the pinnacle income. In the instance of market decrease S-bend, the decay is
moderate at the pinnacle, strongly decreases in the center locale and again smoothes up in the
Tw is the market window (time) when the development income S-bend arrives at its
pinnacle. On the off chance that it is expected that the hour of decrease is equivalent to the
market window (season of development), the two Scurves are balanced about the vertical
pivot. The suppositions are entirely sensible, since the straight lines are roughly a middle line
of the S-bends.
The S-bends (or chime bends) are regularly very balanced about a straight line interfacing
atop income highlight a beginning point. The chime bends of Figure 6 are approximated by
43
an arrangement of straight lines. Two straight lines are drawn – one for the market
development S-bend and another for the market decay S-bend. Another arrangement of two
lines is appeared for deferred "market section also, the market decay." Carter and Baker
dispatching an item. As appeared in Figure 6, both these ringer bends arebalanced about lines
that structure sides of a triangle. Based on this evenness, the region under the ringer bend can
.If q is the slope of the revenue S-curve anda is the rate of revenue-growth or
Peak-revenue = aTw
Fig 5.3
45
Fig 5.4
Revenue generated in the case of on-timemarket entry and delayed market entry can be
Total revenue for early (or on-time marketintroduction) = Area under the dotted curve:
It is assumed that the growth rate for thedelayed market entry is the same as the early oron-
If Rloss denotes a revenue loss term due todelay in introducing the new product, then:
Rloss = (Tw)2
or:
Rloss = 2 (Tw)2
The above condition (27) addresses an estimate of the genuine income misfortune, which
should be figured utilizing genuine S-bends or chime bends. This estimate can be utilized as
A Td month delay in a starting an itemcan be registered utilizing the data yielded Table I.
Evaluation of Product: The guardians who are the intended interest group will contrast the
brilliant band and different items which are accessible on the lookout anyway as of now there
is no significant rivalry.
Trial of the Product: The brilliant band should be taken a stab at a bunch of shoppers and
criticism should be assembled from the retailers who are selling this item on the lookout.
47
Product selection: The savvy band has been adequately advanced and the criticism has
additionally been assembled from a bunch of buyers who utilized it. Presently the time has
The full appropriation cycle may require some investment from not many weeks to certain
months wherein the advancement interaction will make a mindfulness in the personalities of
the buyer with the goal that they can purchase the item and guarantee their youngster's safety
make the item effective in the market the objectives ought to be explicit. For instance, the site
ought to be easy to understand, organization ought to be dynamic via online media as there
are numerous channels through which buying should be possible. The subsequent stage is
distinguishing what administration does the savvy band gives to clients. At last, the intended
interest group ought to be explicit , on account of shrewd band target market is guardians or
youthful moms.
promoting to publicize a particular item or administration among the intended interest group.
together for improved deals and most extreme expense effectiveness. With regards to Smart
band for little children underneath would be the parts of Integrated Communication in
Setting the establishment of brilliant band , breaking down the item and the objective
market.
The vision of savvy band is to secure the kids, so the item is likewise eco-
appealingly.
Smart band ought to be advanced through different mediums like publicizing , papers,
The savvy band ought to coordinate the inputs and the surveys of the clients with
correspondence lattice.
among end-clients.
The Smart band for Toddlers can catch the market through the different advertising
techniques and the promoting plan which has been talked about in this report. The
organization is very cheerful that the item will be an incredible utility for the guardians who
CHAPTER 6: ANALYSIS
Organizational strategies are the means throughwhich companies accomplish their missions
andgoals. Successful strategies address four elements ofthe setting within which the company
50
operates:(1) the company’s strengths, (2) its weaknesses, (3)the opportunities in its
Strengths, in the SWOT analysis, are a company’scapabilities and resources that allow it
customer service, or to have a presencein multiple retail markets. Strengths may also be
thingssuch as the company’s culture, its staffing and training,or the quality of its managers.
Whatever capability a
A company’s weaknesses are a lack of resourcesor capabilities that can prevent it from
strategy. There are manyexamples of organizational weaknesses. For example,a firm may
have a large, bureaucratic structure thatlimits its ability to compete with smaller, more
dynamiccompanies. Another weakness may occur if a companyhas higher labor costs than a
competitor who canhave similar productivity from a lower labor cost. Thecharacteristics of
51
an organization that can be strength,as listed above, can also be a weakness if the
Opportunities provide the organization with achance to improve its performance and its
Opportunities mayarise when there are niches for new products or services,or when these
products and services can beoffered at different times and in different locations.
For instance, the increased use of the Internet has providednumerous opportunities for
organizationoutside the company that aims to reduce the levelof the company’s performance.
Every company facesthreats in its environment. Often the more successfulcompanies have
stronger threats, because there is adesire on the part of other companies to take some ofthat
success for their own. Threats may come fromnew products or services from other companies
Threats may also come from government regulation oreven consumer groups.A strong
company strategy that shows how togain competitive advantage should address all
fourelements of the SWOT analysis. It should help theorganization determine how to use its
Strength:
Weakness
Protects the child
Cannot detect any
from touching
hazardous liquid
hazardous objects
Kids may get
Sends a SOS
uncomfortable
message to parent
Opportunity
Threats
Collaborating with
Competitors could
Apple watch fir
come with a
further
cheaper product
enhancement
Fig 6.1
The main strength of this innovative product is that it protects the child from touching any
hazardous element as quick action will be taken by the guardians who get a message if there
is any unfortunate incident to happen. The company should evolve some sensor which can
detect the liquids also which a child may drink and get choked. Also, they should try to
deliver soft bands using the material which suits the skin of babies so that they do not get
uncomfortable. Company should seek for an opportunity to get collaborated with Apple
watches as it will be inducing an additional feature in its watch to make the parent aware of
the hazards. However, company should try to deliver a smart band which is of high quality
but affordable cost so that the threat of other competitors does not spoils their market.
Political Economic
Global
Stable political situationinflation may affect
Opportunity for innovation
Post Covid-19 recession has struck
Social Technological
Fig 6.2
Australia has a stable political government which provides a good for any evolving company
to drive innovation and technology into its business. However, the economic condition of
Australia is deteriorating since the outbreak of pandemic and global inflation may affect the
54
product launch. People may hesitate to purchase this product so company should take some
innovative steps to promote the same as special offers, discounting schemes. In Australia
generally the burden of raising a child comes up to the mother as fathers are too busy. The
target audience will be mothers of these toddlers who can be persuaded to the idea of good
and safe parenting. Of course, the technological factor is there in which the product will have
to meet its expectations of the customer by creating competitive advantage. The company
should find an innovative way to deal with the technological threats that other companies
CHAPTER 7: LIMITATIONS
The advantages of wearable trackers are all around recorded, yet in the event that you are not
People often feel blind without their gadgets which is never a good sign. People
started depending on these gadgets and get addicted to it. They will not pay their full
attention towards their child.Accuracy is one of the concern regarding these devices.
There is always a littile bit error will be there which leads to a false alarm send to
parents and due to which parents can lose their interest regarding smart band.
Have you seen that each wrist watch band is always failing to turn out fit for any hand?
Indeed, the band comes excessively loose or excessively tight. In the event that you wear a
loose band, it will descend, and in the event that it is excessively close, you will undoubtedly
Though the smartwatches come in waterproof features, the bands are not. So, when the
wristband gets constant water interaction, your watch band may get damaged.
56
CHAPTER 8: REFERENCES
Huang, Y., Xu, J., Yu, B., & Shull, P. B. (2016). Validity of FitBit, Jawbone UP, Nike+ and
other wearable devices for level and stair walking. Gait & posture, 48, 36-41.
Brown, J. D., Pase, W., McKenzie, C., Salmanian, M., & Tang, H. (2017). A prototype
wearable technologies by consumers: the cases of smart watch and fitness wristband
Nelson, E. C., Verhagen, T., &Noordzij, M. L. (2016). Health empowerment through activity
trackers: An empirical smart wristband study. Computers in human behavior, 62, 364-374.
DIMITRESCU, A., BABIS, C., ALECUSAN, A.M., CHIVU, O. and FAIER, A.M., 2018.
Fernandes, G. and Brandão, L.E.T., 2016. Managing uncertainty in product innovation using
Ward, G., 2016. The project manager's guide to purchasing: Contracting for goods and
Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In Travel marketing,
tourism economics and the airline product (pp. 69-83). Springer, Cham.
Khan, S.A., 2017. Consumer innovation adoption stages and determinants. Department of
De Toni, D., Milan, G.S., Saciloto, E.B. and Larentis, F., 2017. Pricing strategies and levels
and their impact on corporate profitability. Revista de Administração (São Paulo), 52(2),
pp.120-133.
Faith, D.O. and Agwu, P.E., 2018. A review of the effect of pricing strategies on the
Blakeman, R., 2018. Integrated marketing communication: creative strategy from idea to
Laurie, S. and Mortimer, K., 2019. How to achieve true integration: the impact of integrated
Kumar, R., 2018. Research methodology: A step-by-step guide for beginners. Sage.
Zangirolami-Raimundo, J., Echeimberg, J.D.O. and Leone, C., 2018. Research methodology
topics: Cross-sectional studies. Journal of Human Growth and Development, 28(3), pp.356-
360.
58
CHAPTER 9: APPENDIX
Questionnaire
Name
In your view what is the key challenge faced by your firm at global levels?
Dealing with competitors
Enhancing brand presence in different markets
Attracting and engaging customers
All of the above
Which kind of marketing tactic is adopted by your organization at global level to promote
smart band?
Traditional
marketing Modern
marketing All of
the above
In your view adoption of social media marketing tools is more effective in comparison
with other form of marketing platforms?
Y
e
s
N
o
Can’t say
How would you like to rate different smart bands?
Excellen
t Very
good
Good
Average
Poor
Which social media platform is mainly preferred by your firm for marketing and
promotion purpose?
Faceboo
k
Twitter
LinkedIn
Instagra
59
Brand
differentiation Any
other
For international business management how smart band are effective?
They are cost effective
Customer interaction is
possible
Uniqueness of product and services can be highlighted
All of the above
Have you witnessed any such obstacles while analyzing smart band for your international
business?
Y
e
s
N
o
Can’t say
What are the main loopholes linked with the smart band?
Too much dependency on this
Requires high amount of monitoring
Accuracy
All of the above
At global level use of smart band add value to your brand and provide competitive
advantage?
Strongly
agree Agree
Neutral
Disagree
Strongly disagree
The smart bandis costlybut can help parents to take care of their child easily?
Strongly
agree Agree
Neutral
Disagree
Strongly disagree
What sort of additional advantage you have thought in smart band?
60