LEAN STARTUP MANAGEMENT (MGT 1022)

REVIEW 3

PROJECT TITLE-SOCIAL MEDIA

USAGE PROBLEMS

SUBMITTED TO - PROF. GEMINI V JOY MA’AM

AREA OF INTEREST-SOCIAL MEDIA USAGE
PROBLEMS (ITS RELEVANCE)
❏ Social media is becoming more and more popular all around the world, and when
we discuss it, we typically don't consider territorial limitations.
❏ The most crucial benefit of social media is that it keeps us connected to our loved
ones.
❏ To remain informed about recent events and news.
❏ When considering a purchase, you typically read consumer evaluations or
feedback. Social media makes it simple to find product or service reviews to help
with decision-making.
❏ Social media is a terrific platform for both sharing and learning about other
people's perspectives.
RELEVANCE(Continued…)
❏ Everything has gone online as a result of the technology's rapid growth, so
everything must be online in order to keep up with it.
❏ youth who use social networking sites to display content such as music,
movies, photos, or writing
❏ Sharing your knowledge will help you meet new people and establish new
relationships. You will have more and more possibilities to interact with like-
minded people if you learn how to effectively communicate your professional
experience, accomplishments, and outcomes.
❏ People's lives have been made easier by social media, which has integrated
itself completely into daily life.
PROBLEM
STATEMENTS
1) DEVELOPING A SOCIAL MEDIA ADDICTION

❏ When you play a game or do a chore, you strive to do it as well as you can. Once
you achieve your goal, your brain releases dopamine and other feel-good
chemicals, making you joyful.
❏ When you upload an image to Facebook or Instagram, the same technique is at
work.
❏ You'll unconsciously recognise it as a reward once you start to see all the alerts
for likes and supportive remarks flashing up on your screen.
❏ But social media is also rife with activities that might alter mood.
2) CYBER BULLYING

❏ Bullying through the use of technology or any electronic communication is

referred to as "cyberbullying," and includes, but is not limited to, any transfer of
signs, signals, writing, images, sounds, data, texting, or intelligence of any kind that
is transmitted in whole or in part by a wire, radio, electromagnetic, photo
electronic, or photo optical system, including, but not limited to, electronic mail,
Internet communications, instant messages, or facsimile communications.
❏ A child gets bullied every 7 minutes. Intervention happens in only 4% of cases—
four percent of them involve an adult, and 11% involve a peer.
❏ A startling 85% of all bullying incidents go unreported.
 3) Social media and suicide
❏ The American Association of Suicidology reports that over the past three
decades, suicide rates among 10- to 14-year-olds have increased by more
than 50%.

❏ According to the American Foundation for Suicide Prevention, suicide

rates among kids aged 10 to 14 are incredibly low but are gradually rising.

❏ Chat rooms and discussion boards on social media platforms could put
vulnerable populations at danger by influencing decisions to commit
suicide.
4) Lack of sleep
❏ Teenagers who lack sleep, particularly those obtaining 6 hours or less each night, have
been shown to have higher rates of depression, suicidal ideation, obesity, and lower
academic performance.
❏ Electronic devices may be a factor in adolescents' poor sleep quality, in addition to
distraction and decreased sleep due to time spent on social media. According to studies,
the light emitted by the majority of electronic screens might alter circadian rhythms by
delaying the production of melatonin, which causes sleep difficulties.
❏ Adolescents naturally push their circadian clocks forward, which frequently causes them to
stay up later and have trouble going asleep.
❏ The additional effects of electronic media can make these sleep issues worse. To increase
the quality of their sleep, adolescents should be urged to get a minimum of 9 hours a night
and to refrain from using electronics an hour before bed.
5) self-esteem problems

❏ Social media platforms offer features that enable users to compare themselves
to others and gain praise for their appearance.
❏ It may be connected to worries about one's body image. The most susceptible to
this are "selfie addicts" and those who spend the majority of their time uploading
and scrolling. .
❏ Social media doesn't cause the fundamental issue; it merely serves as a platform
for it, which exacerbates the issue. Additionally, it encourages others to act in a
similar manner.
6) TIME CONSUMING
❏ The majority of time spent daily on social media is still in emerging markets. This may
be caused by the fact that people in these markets tend to be younger, with the 16 to
24 age group internationally driving development.

❏ Global internet users spend 2 hours and 27 minutes on social media each day on
average, while regional patterns vary greatly.

❏ Overuse of social media can result in depression, anxiety disorders, peer pressure,
etc.
SURVEY FORM LINK->

https://docs.google.com/forms/d/11HbrZLuHM33Hbi3
XtIbAiZXRLeODi5fYep5_jD5Lmj0/edit#settings
SURVEY QUESTIONS AND
ANALYSIS
NAMES AND AGES OF THE PEOPLE THAT
PARTICIPATED IN THE SURVEY->
Q1)How many social media platforms are you a part of? Q2)How much time do you spend on social media
ON A SCALE OF 1-7 daily?
Q)Is social media the first and the last thing which you check in a
day? Q)Do you lose track of how much social media you
are using?
 Q)Do you feel an inclination to check your
Q)Which social media app do you use the most? social media ?
Q)What is the main reason that you use social media?
Q)What device do you most commonly use to check social
media ?
Do you often compare yourself with others on social Q)Have you ever heard about the term "PHUBBING"?
media?
Q)How can you avoid social media addiction? What is the kind of effect that social media has on
one's life?
 Do you think social media can create self
Do you feel that social media is affecting your esteem issues?
mental health?
Do you think use of social media causes peer pressure?
Can excessive social media lead to depression?
Do you believe that social media can trigger suicidal I often think about social media when I'm not using it
thoughts?
When do you feel the urge to use social media the
most? Do you feel that social media has made your nature
more introverted?
How many hours do you sleep daily? Do you feel social media is affecting your sleep
cycle/sleeping hours?
 Do you tend to click on ads that are shown in
Which age group do you think is most prone to getting the social media and it effects your product
addicted to social media? choices?
Have you ever been cyber-bullied? If yes then did you report the cyberbullying
to anyone?
How often do you think cyberbullying How often do you post on social media?
happens?
Do the likes and comments on your post effect you?
Do you think that social media is affecting your
academics?
CONCLUSION->
A total of 121 replies, largely from those between the ages of 20 and 23, were gathered. highest score was 21,
which represented 31.4% of survey participants. 38% of the participants in the poll were active on 4 social
media sites, making up the majority of the population. Nearly half of the participants (43%) spend more than
three hours every day on social media. Additionally, more than half of the population (57%) checks social
media both before going to bed and right after waking up. People often fail to keep track of how much time they
spend on social media as a result of this behaviour.Almost 70% of the people of the participants tend to lose
track of the time that they spend on the social media.Most of the people use social media for entertainment
purpose,other reasons include texting family and friends,gathering information etc.Since mobile is handy to use
so people spend most of their precious time on mobile and laptop is the second most used device.

Most of the people compare themselves to other people on social media which often result into low confidence
and self doubt as there are many fake standards present in the social media. As we observed 33% of the
population believes that social media has negative impact on our life.

Now focusing on mental health,around 64% of the population agrees that social media affects the mental
health.Also from the survey we concluded that social media can create self esteem issues,peer pressure which
can lead to depression and will ultimately result in suicidal thoughts.According to the survey most of the
participants tend to think about social media while they are not using it and feel the urge to get updates.
CONCLUSION->
Around half of the population(45%) believe that their nature has become more introverted due to social media
usage due to which they are not socially/physically active.
Most of the participants sleep for 5-7 hours and 36% people they sleep for less than 5 hours which is not
sufficient for proper functioning of the body.Moreover they believe that social media is affecting their sleeping
hours. Major of the population choice is being affected by the ads which are displayed on social media

Around 42%of the population has been cyber bullied but they fail to report it as shown by the response in which
60% of the population did not report which can result into suicide,anxiety and mental pressure also.people are
so much addicted to social media now a days that they post after every week, and they are very much affected
by the likes and comments that they recieve.

Academic plays a very crucial role in a students life and acc to the survey conducted 68% of the population
agrees that their academics is being affected by social media.
therefore overall we can conclude that the effect that social media has on our life is inclined toward the negative
side as they are getting addicted and slowly destroying their work life balance ,sleeping hours etc.
SOLUTION/Business plan-
Smart watch with alarm
WORKING->
Customer should give permission to have the information regarding the apps

i) Digital wellbeing(built in) app

This will automatically give permission to all (entertainment based) social media screen time and
app timers

i) Instagram

ii) Facebook

iii) Telegram

iv) Discord etc

BENEFITS->

· It shows time like an analog clock

· It has a built in fitness app

· Access to screen time

MARKET CHALLENGES->
❏ A large portion of consumers of smart watches are health/fitness users therefore
the selling point of this watch will be “Mental Health/Fitness”.
❏ Small Screen, No Direct Access to Your Website:
❏ Since its special point is not about screen this is not a big issue
CUSTOMER STRATEGY->

Customers have no interest in following

· watching movies/websites in small screen
· pop up ad in such a small screen
· plain(no style)
· games
· Call feature
· Bluetooth pair for music
 PRICE STRATEGY->

2.5k with 1 year warranty

COST EXPECTATION AND FUNDING->

To make a watch with good materials expected cost is 1.5k(super fibre strap, led screen)

Funding:

PMMY(Pradhan Mantri Mudra Yojana) upto 10 lakh

SISFS (Startup India Seed Fund Scheme) upto 20 lakh

CLCSS (Credit Link Capital Subsidy Scheme) upto 1 crore or 15% subsidy for raw materials.
BRAND NAME(And Reason behind it)
BRAND NAME:
CKH - CLOTHO KAI HYGIEIA

Reason:
Target customers - youngsters who care about their style and fitness

Clotho - god of style

Kai - And
hygieia - god of fitness

The above words are greek words, Non English words are chosen to spark curiosity
LOGO(And Reason behind it)
Reason:

Black colour fits the target of both style and fitness

White background goes well with Black and makes it

more attractive

there are no time pins which goes to show that it is a

smart watch
Trade Character(And Reason behind it)
● She is the goddess of Fitness in greek Mythology
this will attract fitness lovers
● Having a Female Goddess as trade character
will attract both boys and girls
REFERENCES :
❏ https://www.playbytherules.net.au/got-an-issue/social-media/social-media-issues

❏ https://www.lifespan.org/lifespan-living/social-media-good-bad-and-
ugly#:~:text=The%20more%20time%20spent%20on,Social%20Media%20is%20addicting.

❏ https://www.acog.org/clinical/clinical-guidance/committee-
opinion/articles/2016/02/concerns-regarding-social-media-and-health-issues-in-adolescents-
and-young-adults

❏ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3477910/#:~:text=Additional%20analysis%2
0revealed%20no%20link,content%20found%20on%20online%20forums.

❏ https://www.ipl.org/essay/Negative-Effects-On-Social-Media-PK49WH74SCPR