MINI PROJECT FILE-1

ON

“ AN INNOVATIVE PRODUCT - SMART BAND "

Session 2020-2021

Subject Code: KMBN152

Submitted to: Submitted By:

Prof. Vandana Gaur SAGAR MISHRA

Roll No:IMR20008

Section:-C
 G. L. BAJAJ
INSTITUTE OF MANAGEMENT & RESEARCH
Approved by A.I.C.T.E. & affiliated to Dr. A P J Abdul Kalam
Technical University, Lucknow (U. P.).

GLBIMR
Date

CERTIFICATE

This is to certify that SAGAR MISHRA has undertaken this Mini project
work entitled AN INNOVATIVE PRODUCT - SMART BAND for
the partial fulfillment of the award of Master of Business Administration
degree from Dr. A P J Abdul Kalam Technical University, Lucknow (U. P.).
As per best of my knowledge this Mini project work is an original piece
of work and has not been submitted or published elsewhere.

I wish him/ her all the best for his/her bright future ahead.

Prof. Vandana Gaur

Project Supervisor

Department of Management Studies

 G. L. BAJAJ
INSTITUTE OF MANAGEMENT & RESEARCH
Approved by A.I.C.T.E. & affiliated to Dr. A P J Abdul Kalam
Technical University, Lucknow (U. P.).

GLBIMR Date

CERTIFICATE

This is to certify that SAGAR MISHRA has undertaken this Mini project
work entitled AN INNOVATIVE PRODUCT - SMART BAND for
the partial fulfillment of the award of Master of Business Administration
degree from Dr. A P J Abdul Kalam Technical University, Lucknow (U. P.).
As per best of my knowledge this Mini project work is an original piece
of work and has not been submitted or published elsewhere.

I wish him/ her all the best for his/her bright future ahead.

Dr. Deepa Gupta

HEAD MBA
Department of Management Studies
 G. L. BAJAJ
INSTITUTE OF MANAGEMENT & RESEARCH
Approved by A.I.C.T.E. & affiliated to Dr. A P J Abdul Kalam

Technical University, Lucknow (U. P.).

G. L. BAJAJ
Dated:

INSTITUTE OF MANAGEMENT & RESEARCH

CERTIFICATE
Approved by A.I.C.T.E. & affiliated to Dr. A P J Abdul Kalam

Technical University, Lucknow (U. P.).

This is to certify that SAGAR MISHRA has undertaken this Mini project
work entitled AN INNOVATIVE PRODUCT - SMART BAND for
the partial fulfillment of the award of Master of Business Administration
degree from Dr. A P J Abdul Kalam Technical University, Lucknow (U. P.).
As per best of my knowledge this Mini project work is an original piece
of work and has not been submitted or published elsewhere.

I wish him/ her all the best for his/her bright future ahead.

DEAN MBA

Department of Management Studies

 DECLARATION

The mini project on “AN INNOVATIVE PRODUCT - SMART BAND ." has been

undertaken as a partial fulfillment of the requirement for the award of the degree of Master of

Business Administration of Dr. APJ AKTU, Lucknow. I hereby declare that this mini Project is my

original work and the analysis and findings are for academic purposes only. This mini project has

not been submitted by the any student earlier to any other institution/ university.

SAGAR MISHRA
 6

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 GL BAJAJ IMR, 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 Prof. Vandana Gaur for providing me help and
support throughout the Mini 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.

SAGAR MISHRA
 7

PREFACE

True learning is born out of experience and observation practical experience is one of the best

types of leanings that one can remember throughout the life. After II semesters in learning

theoretical aspects of administration and management, the day come to apply these in corporate

world in content of modern industrial enterprise that has to go through its different terminal to

achieve that corporate goals. The main object of practical training is to develop practical

knowledge and experience and awareness about industrial environment and business practices in

the student as a supplement to theoretical studies of administration and management in specific

area like MARKETING. It increases the skill, ability and attitude of a student to perform specific

job in industrial environment.

As a part of MBA Circular and in order to gain practical knowledge in the field of management,

we are required to make a report on ―An innovative product - SMART BAND”. The basic

objective behind this project is to get knowledge of different tools of marketing.

SAGAR MISHRA
 8

TABLE OF CONTENTS

CHAPTER NO TITLE PAGE NO

Preface 1
Acknowledgement 2
1 Introduction 5
1.1 Background 5
1.2 Rational of study 7
1.3 Competitive information 8
2 Industry review 9
2.1 Currently available products 9
2.2 Market segmentation 12
2.3 Brand positioning 13
2.4 Consumer adoption process 14
3 Methodology 16
3.1 Introduction 16
3.2 Research design 16
3.3 Research approach 17
3.4 Data collection 18
3.5 Sampling 19
3.6 Data analysis 20
3.7 Research type 21
3.8 Research limitations 21
3.9 Ethical consideration 22
3.10 Conclusion 23
4 Product description 24
5 Feasibility 32
5.1 Pricing strategies 32
 9

5.2 Proposed marketing strategy 34

5.2.1 New product introduction 34
5.2.2 Early introduction 34
5.2.2 Revenue & profits 42
5.3 Business intermediaries and supply chin partners 46
5.3.1 Logistical marketing plan 49
5.3.2 Integrated marketing communication matrix 50
6 Analysis 52
6.1 SWOT analysis 52
6.2 PESTLE Analysis 54
7 Limitations 57
8 References 58
9 Appendix 60
 10

CHAPTER 1: INTRODUCTION

1.1. 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

profoundly powerful book Centuries of Childhood, distributed by French antiquarian 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

seventeenth century, youngsters were addressed as smaller than expected grown-ups.

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 injured. And parents have to

bear the consequences.

 11

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

focuses to broad parental consideration during affliction, and to melancholy at death, 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 feeling,

circuitry and includes:

 The amygdala, which makes us vigilant and highly focused on the safety and

survival of our newborns.

 The oxytocin-producing hypothalamus, which bonds us to our newborns.

 The dopamine system, which rewards us with a squirt of the feel-good hormone to

keep us motivated and enjoying parenting.

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 (or
 12

gray matter) in new mothers, and that that growth is associated with more positive feelings

toward their infants.

1.2. 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 which their child might be facing(Fernandes and

Brandão., 2016).

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 that

more and more children stay safe and secure.

 13

1.3. 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 utility factor so companies cannot fool them around

(DIMITRESCU et,.2018).

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).

 14

CHAPTER 2: INDUSTRY REVIEW

2.1. Currently available products

A. 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. Different sensors in

UP4 incorporate a triaxis accelerometer and temperature sensors (separate sensors for skin

temperature and encompassing temperature). Being a wrist band UP4 doesn't have a screen. The
 15

information is noticeable through the cell phone application that is accessible for the two iOS

and Android. Through NFC, UP4 permits to make installments like a credit card.

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.

B. Nymi band

Nymi conveys a wearable, multifaceted authenticator gadget that improves security and

administrative consistence in drug fabricating conditions.

The organization's undertaking arrangement consolidates biometrics with a strong working

environment wearable to build efficiency, security, and wellbeing and wellbeing challenges in

one simple to-convey arrangement.

 16

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 businessneeds

for information uprightness and efficiency. It is intended to supplant existing point-in-time

validation models, which are regularly utilized in assembling conditions.

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 biometric

confirmation likewise guarantees that each Nymi Band just works while on the wrist of an

affirmed administrator. When verified, this can't be moved.

Administrator logins and online endorsements are a critical territory for profitability

enhancements. These tedious, monotonous activities upset creation as well as intrude on

 17

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 administrator efficiency,

client fulfillment, and security.

The time saved by lessening login times and eliminating client verification mistakes (fizzled

usernames and passwords) prompts emotional expansions in productivity for assembling

conditions.

Nymi Band clients have ceaseless verification that is completely utilitarian when wearing gloves,

cleanroom articles of clothing, or clean suits. It gives consistent association producing execution

frameworks (MES) and general administrator fulfillment.

2.2. Market segmentation

Market segmentation is a marketing model which separates the entire market set up into minor

divisions encompassing of customers with a comparable taste, requirement, and 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 for the young parents

who are parenting their kids (1-3 years) and the marketing strategy would be focussed on the

kids(Camilleri, 2018).

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
 18

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 product which is getting

ready to launch. This kind of segmentation is termed as behaviouristic segmentation where the

customers loyalty towards a brand will be the area of focus.

2.3. 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 others. For instance, the

positioning statement can be mentioned as :

“Protecting our Children”

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 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
 19

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 competitors to spoil the brand’s position in

the market.

2.4. Consumer adoption process

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 smart band there

would be 5 stages which are as follows:

1. Awareness of Product: To create an awareness in the minds of the consumer promotions

should be done . The smart band can be promoted through advertisements in different

mediums like print or digital media.

2. 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

consumers through mouth to mouth publicity.

3. 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.
 20

4. 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.

5. 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 buy the product

and ensure their child’s safety(Khan, 2017).

 21

CHAPTER 3: METHODOLOGY

3.1 Introduction

Research methodological chapter is considered to be highly crucial in every type of research.

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 information that is crucial for

conducting the investigation.

3.2 Research design

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 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 aim and objectives of the research.
 22

Different type of research designs are descriptive, experimental, correlational, explanatory 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 subject with the motive to

explore various theories.

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 investigation such as

experimental as it is not possible to develop relationship between the cause and effect.

3.3 Research approach

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 in abductive

interaction between general and specific takes place (Zangirolami-Raimundo, 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
 23

for evaluating the propositions and at last in abductive approach themes are identified and

conceptual framework is built.

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.

3.4 Data collection

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 primary

and secondary that supports in obtaining adequate information of information 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
 24

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 obtain

through this.

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 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.

 25

On the other hand, in non probability sampling technique the key methods are convenience,

quota, judgement and snowball. Considering the convenience sampling technique 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 is on

judgement of the researcher.

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.

3.6 Data analysis

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
 26

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.

3.7 Research type

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.

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 relevance of

social media in the management of the international businesses. Furthermore, data has been

presented by forming charts such as pie, bar etc and through this readers can easily understand

about the data collected.

 27

3.8 Research limitations

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.

Another main research limitation is presence of secondary sources for conducting investigation.

The secondary sources on the topic selected were limited and this hampered the data collection

process. Therefore, these are some of the main limitations that are associated with the present

investigation.

3.9 Ethical consideration

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 truth, knowledge

etc.

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
 28

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 been

considered in the investigation.

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, 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 objectives of

the investigation.
 29

CHAPTER 4: PRODUCT DESCRIPTION

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 the

conventional watches.

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

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 aboutit’s operating system and

the CPUs used.

 30

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

1. Temperature sensors

Temperature Sensors/Detectors/Transducers are electronic devices that detect thermal 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 metals, which

generate electrical voltage or resistance once it notices a change in temperature. The temperature

sensor plays a critical role in maintaining a specific 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 physical measurement type in industrial

applications. Accurate measurements are vital in ensuring the success of these processes. There

are many applications that are not-so-obvious, 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 and

non-contact. Contact sensors are used mainly in hazardous areas.

The below are contact temperature sensors:

The Resistance Temperature Detector (RTD) is known as a resistance thermometer and measures

the temperature by the resistance of the RTD element with the temperature. The metal can be
 31

made of different materials including platinum, nickel, or copper. However, platinum is the most

accurate and therefore carries a higher cost.

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 range

from -200 °C to 1750 °C and are generally more cost-effective.

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 linearization –

so there is some mathematics involved.

A thermometer is generally what we think of when we think temperature – particularly the

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 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 move the

needle tothe temperature being measured.

 32

Digital Thermometer: A digital thermometer uses a probe such as a thermocouple or a resistance

temperature detector (RTD). The temperature is measured using the probe (sensing end) and

displayed as a digital reading.

The below is Non-contact temperature sensor

Infrared sensors determine temperatures from a distance, by measuring the thermal radiation

emitted by an object or heat source. The applications for these are often in high temperatures or

hazardous environments where you need to maintain a safe distance away from a particular

body. Thermal imaging and infrared sensors are the most common type of non-contact

temperature sensors, and are used in the following circumstances: Fever detection or when the

target object is moving (such as on a conveyor belt or within moving machinery), if it’s a great

distance away if there’s a dangerous surrounding environment (such as high voltages) or at

extremely high temperatures where a contact sensor would not function appropriately.

To simplify, a temperature sensor does just that, it senses the temperature of any content needing

to be measured, whether that is solids, liquids or gases.

2. Position sensor

A position sensor is a sensor that facilitates measurement of mechanical position. A position

sensor may indicate absolute position (location) or relative position (displacement), in terms of

linear travel, rotational angle, or three-dimensional space..

 33

Different types of Position Sensor

There are different types of position sensor; the main types come under the type of movement

they measure; linear or rotary.

Linear position sensors convert linear movements or measurements into output signals for

processing. Linear position sensors are all around us. Linear position sensors use different types

of technology to ensure they are taking measurements in the best way for the application in

hand.

They can be either contacting or non-contacting; non-contacting linear position sensors are

wear-free and therefore offer a longer life but typically are higher in cost.

Rotary position sensors convert rotary movements into output signals. Like linear position

sensors, rotary position sensors can also be contacting or non-contacting.

Rotary position sensors can also be single turn or multi-turn so depending on the degree of

rotation or number of turns, one type will be better suited.

Position Sensor Technology

Each different type of position sensor uses a different type of technology. Some of the more

popular and well-known ones are;

Potentiometer - a contacting technology used in both linear and rotary sensors.

Hall effect - more popular with rotary sensors but can also be used in linear sensors, non-

contacting technology.
 34

Inductive - non-contacting technology using alternating currents to measure linear position.

LVDT - non-contacting linear sensors - linear variable differential transformer

RVDT - non-contacting rotary sensors - rotary variable differential transformer

Eddy Current - inductive non-contacting measuring method for linear and rotary movements

Positek PIPS - one of our sister companies; non-contacting technology for either linear or rotary

measurements.

What is a position sensor used for?

Position sensors are used in many applications, they are used across industries such as;

automotive, motorsport, medical, agriculture, robotics, industrial processing, mobile vehicle, test

and lab applications, food & beverage, packaging, machine tool, wrapping and many more.

Some example applications using position sensors are;

 Steering systems on agricultural machinery

 Electric cart throttle control

 Conveyor speed measurement

 Printing process control

 Labelling control

 Ramp and bridge positioning

 Ticket barrier opening angles

 35

 Used on Segway’s

 Measuring the thickness of dough in baking machines

 MRI machines

 CCTV camera positioning

3. 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

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
 36

(which emit microwave radiation), and tomographic sensors (which transmit and receive

radio waves)

Active ultrasonic motion sensor

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

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

and hardware component.

 37

CHAPTER 5: FEASIBLITY

5.1. 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

intricacy, measure intricacy, group participation furthermore, correspondence intricacy, PC

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

presentation (NPI) have developed from "extremely straightforward" to "exceptionally

unpredictable." While simultaneously, the time to showcase angle has contracted (Prasad, 1994).

This is appeared in Figure 1. The evolvingeconomic situations (like worldwide assembling,

 38

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, could be described

distinctly as "straightforward." The workstation market is another genuine model. With new

development in chip innovation, workstation organizations have 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 PC is 14 months, and an information based designing

(programming improvement) 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 assumptions forthe exhibition pointers talked about by Prasad

(1996). Items go downhill rapidly, clients' energies disappear, and requests decrease. There is an
 39

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) Computer- Helped

Acquisition and Logistics Support (CALS) activity distinguishes 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.

5.2. Proposed Marketing Strategy

5.2.1. New Product Introduction

New item acquaintance is comparative with the improvement part of progress the executives

measure, which is portrayed completely in Chapter 3 of the Concurrent Engineering

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 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
 40

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 instance, some Japanese electronic makers) use.

5.2.2. Early Introduction

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

responsiveness is because of failure to respond rapidly to changing economic situations. Such

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
 41

deals of the Ford Mustang and GM Pontiac TransAm.Let us denote the sales volume oftwo

verysimilar company

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 company

E introduced its

product. t= T; when company L introduced its product.

 42

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

areequivalent to the total consumption of a sectionof consumers or buyers.Market share or sales

advantage of companyE over L

= Se (t) / Se (t); for t<T (1)

= [ Se (t) – Si (t) ] / [ Se (t) + Si (t) ] ;

for t >T. (2)

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 customers or

purchasers.Market share or sales advantage of companyE over L

= Se (t) / Se (t); for t<T (1)

= [ Se (t) – Si (t) ] / [ Se (t) + Si (t) ] ;

for t >T. (2)

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 have acknowledged critical
 43

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 furthermore, secured a portion of the market.

This is shown in Equations (1) and (2). The locked insales volume at time T is as follows:

Locked-in sales volume at time T= Se(T) (3)

Longer sales life = T. (4)

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:

Price = Company Cost + Mark-up (5)

where company cost is the result of life-cyclecosts:

Company Cost = Marketing PlanningCost + Design Development + Cost ofComponent Sub-

assemblies + AssemblyCost + QC/Inspection Cost + InvestmentTooling Cost + Production Cost

+Distribution Cost + Warranty Servicecost.

 44

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:

P(t) = Market Price of a product

Ce (t) = Cost of developing a unit product bycompany E

Ci (t) = Cost of developing a unit product bycompany L.

Thus:
 45

Unit Profit Margin for company E

= P(t) – Ce (t) for t > 0 (7)

Unit Profit Margin for company L

= P(t) – Ci (t) for t>T. (8)

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 requesting a

comparable item that is of a comparative kind.

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:

= [ Ci (t) – Ce (t) ]. (9)

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

 46

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;

Total profit margins (TPM) for company E:

TPMe(t) = [Se (t)] ´ [P(t) – Ce (t)];

t<T (10)

TPMi (t) = 0; t<T

TPM for company L = 0; for t<T, since theproduct does not exist.DuringT<t<Tlife, total profit

margins forcompany E are:

TPMe(t) = { Se (t) ´ [P(t) – Ce (t)] };

t>T (11)and total profit margins for company L at anytime after t>T are:

TPMi (t) = { Si (t) ´ [P(t) – Ci (t)] };

t>T. (12)

Thus, as shown in Figure 5, total profit advantage(TPA) of company E over company L canbe

computed by subtracting the above twoTPMs as follows:

TPA (t) = TPMe(t) – TPMi (t) (13)

TPA (t) = { Se (t) ´ [P(t) – Ce (t)] };

for t<T (14)and:

TPA (t) = [ [Se (t) ´ {P(t) – Ce (t)}] –

[Si (t) ´ {P(t) – Ci (t)}]]; for t>T. (15)

If the sales volumes are the same for both E andL companies (say S), then:

TPA (t) S (Ci – Ce); for t>T (16)

 47

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.

What's the significance here to the net benefits?

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 lessen

the organization's benefits by just 5%.

 48

5.2.3.Revenues and Profits (R&P)

The cumulative profit margin over a period oftime (t= Tn) can be obtained by integrating

theabove curves over time t.

t= Tn

Company E: (R&P)

= ò Se (t) [P(t) – Ce (t)] dt (17)

t=0

t = Tn

Company L: (R&P) = ò Si(t) [P(t)– Ci (t)] dt (18)

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 business volume. This is talked

about at a more prominent length in the "Conversation" segment of this paper.

Calculation of revenue loss

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
 49

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 most reduced area.

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.

Tlife = 2Tw (19)

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 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 (1992) additionally utilized a

straight line to gauge the effect of postponements in 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 undoubtedly be approximated by the zone under

this triangle
 50

.If q is the slope of the revenue S-curve anda is the rate of revenue-growth or revenuedeclinethe

peak revenue can be expressed as:

Peak-revenue = aTw

Where= tan ().

Fig 5.3
 51

Fig 5.4

Revenue generated in the case of on-timemarket entry and delayed market entry can be

computed by computing the area under therespective bell curves:

Total revenue for early (or on-time marketintroduction) = Area under the dotted curve:

Rearly = (2Tw) ´ (a Tw )/2 (22)

Rearly= a (Tw)2. (23)

Total revenue generated when product introductionis delayed by Td units:

Rdelayed = Area under the dotted hatchedcurve

Rdelayed = (2Tw – Td) (a Tw – a Td)/2. (24)

 52

It is assumed that the growth rate for thedelayed market entry is the same as the early oron-time

market entry,meaning L remainsconstant. In actual practice, this seems to occur.

If Rloss denotes a revenue loss term due todelay in introducing the new product, then:

Rearly – RdelayedRloss =Rearlor:

[(Tw)2 – (2Tw – Td) (Tw – Td)/2]

Rloss = (Tw)2

or:

[(3Tw – Td) Td]

Rloss = 2 (Tw)2

It is interesting to note that revenue loss is independentof the growth rate a.

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 measure

in figuring the effect of postponements in dispatching an item. For instance, considering a year

market window; for example Tw = 12.

A Td month delay in a starting an itemcan be registered utilizing the data yielded Table I.

5.3. Business Intermediaries And Supply Chain Partners

Market division is a showcasing model what isolates the whole market set up into minor

divisions incorporating of clients with a tantamount taste, prerequisite, and tendency. A market

fragment incorporates of individuals who accept on the indistinguishable zones and have

equivalent concerns. The premise of this division lies in choosing the sex , age gathering, pay

divisions like high low and center guidelines , conjugal status and some of the time the

occupation likewise matters. The advertising division for shrewd band for little children will
 53

search for the youthful guardians who are nurturing their children (1-3 years) and the showcasing

technique would be focussed on the kids(Camilleri, 2018).

The savvy band will be focussed on psychographic division in which the way of life of

individuals will be the core interest. The guardians way of life will be the center of the

advertising procedure , their mentality of saving their child from each risk of the world will seek

after them to purchase the item. The organization will likewise zero in on the clients who are

steadfast towards Apple and are utilizing this item since numerous years. Joint effort with Apple

watches will give a critical preferred position to shrewd band as organization with a world-well

known brand can generally help another item which is preparing to dispatch. This sort of division

is named as behaviouristic division where the clients dependability towards a brand will be the

zone of core interest.

Brand situating is the way toward situating the brand in the personalities of the customer. The

point is to create an unmistakable sense in the customer's brain so the customer associates

something exceptional and alluring with the brand that is not the same as rest of the market. To

empower the brand on the lookout , a brand situating proclamation is needed to make an

underlying mindfulness in the psyche of the client. It very well may be a motto that recognizes

the item from others. For example, the situating proclamation can be referenced as :

"Ensuring our Children"

The following stage in this methodology is to recognize the immediate contenders who represent

a direct thereat for this brand. In this setting the immediate contenders can be the organizations

who can present a comparable sort of item at modest costs. To withstand the need to build up the
 54

brand in the market its essential to realize how the savvy band separates itself from others. As

itsa creative item , as of now there is no significant contender who has this thought of presenting

an item. It ought to likewise know whether the moms will purchase the item or not, that is

knowing their discernments. This item is focussed on guardians who are raising their little

children, so the intended interest group is fixed. Obviously, the item inspires the guardians who

will know if their child is protected at home. This item conveys a quality which will guarantee a

drawn out progress for this brand. Teaming up with a brand like Apple will build up the brand in

the business which will limit the chance of different contenders to ruin the brand's situation on

the lookout.

The purchaser Adoption measure is a strategy to make conscious of an item, create worry among

the shoppers, orchestrate a testing rush to check how the item is functioning and toward the end

allowing the customers to accept the item. This methodology won't ever modify paying little

mind to ability change, market circumstance changes or of any sort. In this cutting edge world ,

the customer has gotten exceptionally shrewd and keen on what the person requires so it turns

out to be vital to devise an imaginative methodology to sell the item. In this situation to sell the

brilliant band there would be 5 phases which are as per the following:

Awareness of Product: To make a mindfulness in the personalities of the buyer advancements

ought to be done . The keen band can be advanced through ads in various mediums like print or

computerized media.

Interest of Product: The keen band should make an interest in the personalities of the buyer, and

it very well may be done through web , web-based media , retailer, or the current shoppers

through mouth to mouth exposure.

 55

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.

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 come

to dispatch the shrewd band in the whole market.

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

5.3.1. Logistical Marketing Plan

Any extraordinary system begins with establishing a strong framework. To strategically 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.

 56

5.3.2. Integrated Marketing Communication Matrix

Coordinated showcasing correspondence indicates fusing all the procedures of brand promoting

to publicize a particular item or administration among the intended interest group. In coordinated

showcasing correspondence, all features of advertising correspondence work 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 showcasing (Blakeman.,

2018). :

a. Setting the establishment of brilliant band , breaking down the item and the objective

market.

b. The vision of savvy band is to secure the kids, so the item is likewise eco-accommodating

and biodegradable liberated from any synthetic.

c. To improve the purchaser experience of shrewd band it ought to be bundled appealingly.

d. Smart band ought to be advanced through different mediums like publicizing , papers,

and approach Social media to advance.

e. The savvy band ought to coordinate the inputs and the surveys of the clients with explicit

programming resembles CRM which can quantify the Integrated correspondence lattice.

Incorporated advertising correspondence permits all aspects of showcasing blend to work

aggregately in coordination to empower a particular item or administration proficiently among

end-clients.
 57

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 are quick to save their

children from risky articles.

 58

CHAPTER 6: ANALYSIS

6.1. SWOT Analysis

Organizational strategies are the means throughwhich companies accomplish their missions

andgoals. Successful strategies address four elements ofthe setting within which the company

operates:(1) the company’s strengths, (2) its weaknesses, (3)the opportunities in its competitive

environment, and(4) the threats in its competitive environment. This

set of four elements—strengths, weaknesses, opportunities,and threats—when used by a firm to

gaincompetitiveadvantage, is often referred to as a SWOTanalysis. SWOT was developed by

Ken Andrews inthe early 1970s. An assessment of strengths andweaknesses occurs as a part of

organizational analysis;that is, it is an audit of the company’s internalworkings, which are

relatively easier to control thanoutside factors. Conversely, examining opportunities

and threats is a part of environmental analysis—thecompany must look outside of the

organization todetermine opportunities and threats, over which it haslesser control.

Strengths, in the SWOT analysis, are a company’scapabilities and resources that allow it

toengage in activities to generate economic value andperhaps competitive advantage. A

company’s strengthsmay be in its ability to create unique products, to providehigh-level

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

company has can be regarded as strength.

A company’s weaknesses are a lack of resourcesor capabilities that can prevent it from

generating economicvalue or gaining a competitive advantage ifused to enact the company’s

 59

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 an

organization that can be strength,as listed above, can also be a weakness if the companydoes not

do them well.

Opportunities provide the organization with achance to improve its performance and its

competitiveadvantage. Some opportunities may be anticipated,others arise unexpectedly.

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 companies

toexpand their product sales. Threats can be an individual, group, or 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 thataim to take away a

company’s competitive advantage.

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 strengths to

takeadvantage of opportunities and neutralize threats

Below is the SWOT analysis for Smart band for toddlers.

 60

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.

6.2. PESTLE Analysis

This is a very important tool when any business or any new product is getting to launched in the

industry. Basically, it is a framework to supervise the macro-ecological elements that may have a
 61

thoughtful effect on a company's accomplishment.Below is the PESTLE analysis of Smart Band

for Toddlers.

• Political • Economic

Global
Stable political inflation may
situation affect
Opportunity for Post Covid-19
innovation recession has
struck

Mothers primary Innovation

caretakers leads to
Idea of good improving the
parenting quality and
reducing cost
• 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
 62

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

might introduce once the product is launched in the market.

 63

CHAPTER 7: LIMITATIONS

The advantages of wearable trackers are all around recorded, yet in the event that you are not

an insightful client, the downsides can be various as well.

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

stay away from to wear the band

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.
 64

CHAPTER 8: REFERENCES

Bell, R. Q., & Harper, L. V. (2020). Child effects on adults. Routledge.

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

implementation of continuous authentication for tactical applications. In Ad Hoc Networks (pp.

342-353). Springer, Cham.

Dehghani, M. (2016, March). An assessment towards adoption and diffusion of smart wearable

technologies by consumers: the cases of smart watch and fitness wristband products. In HT

(Extended Proceedings) (pp. 1-6).

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.

MANAGEMENT OF A MARKETING PLAN. FiabilitateşiDurabilitate, 1(21), pp.279-285.

Fernandes, G. and Brandão, L.E.T., 2016. Managing uncertainty in product innovation using

marketing strategies. JISTEM-Journal of Information Systems and Technology

Management, 13(2), pp.219-240.

Ward, G., 2016. The project manager's guide to purchasing: Contracting for goods and services.

CRC Press.

Sarsby, A., 2016. SWOT analysis. Lulu. com.

 65

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

Management, UniversitàCa'Foscari Venezia Working Paper, (2017/03).

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 purchase of

consumer goods. International Journal of Research in Management, Science & Technology (E-

ISSN: 2321-3264) Vol, 2.

Blakeman, R., 2018. Integrated marketing communication: creative strategy from idea to

implementation. Rowman & Littlefield.

Laurie, S. and Mortimer, K., 2019. How to achieve true integration: the impact of integrated

marketing communication on the client/agency relationship. Journal of Marketing

Management, 35(3-4), pp.231-252.

Ørngreen, R. and Levinsen, K., 2017. Workshops as a Research Methodology. Electronic

Journal of E-learning, 15(1), pp.70-81.

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.
 66

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?
Yes
No
Can’t say
How would you like to rate different smart bands?
Excellent
Very good
Good
Average
Poor
Which social media platform is mainly preferred by your firm for marketing and promotion
purpose?
Facebook
Twitter
LinkedIn
Instagram
Any other (Please specify)
In your view what are the key benefits associated with the utilization of smart band for your
firm?
Enhances global presence
Boosts brand publicity
Attracts worldwide customers
Brand differentiation
Any other
For international business management how smart band are effective?
They are cost effective
 67

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?
Yes
No
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?

In your view what changes are required in the applicability of smart band for growth of your
international business?
_____________________________________________________________________________