Professional Documents
Culture Documents
Semester : 5
Group Members :
Submitted To:
Madam Azuati Binti Mahmud
Submission Date:
3rd January 2023
TABLE OF CONTENTS
Figure 1: Illustration of the Usage of our In-BAND that will connect to the Application........... 4
Figure 2: 3D Prototype of In-BAND ....................................................................................... 7
Figure 3: GPS Chip ............................................................................................................. 12
Figure 4: Flyers for In-BAND ............................................................................................... 26
Figure 5: Front and Back Page of our Business Card.......................................................... 27
Figure 6: Instagram Page of our Product............................................................................. 27
Figure 7: Capital Expenditure Projection ............................................................................. 37
Figure 8: Pre - Operating and Working Capital .................................................................... 38
Figure 9: Sales and Purchases Projections ......................................................................... 39
Figure 10: New Project Implementation Cost ...................................................................... 40
Figure 11: Sources of New Project Financing ..................................................................... 41
Figure 12: Depreciation of Fixed Cost ................................................................................. 42
Figure 13: Loan Amortization and Hire - Purchases Schedules........................................... 43
Figure 14: Cash Flow Forecast ........................................................................................... 44
Figure 15: Pro - Forma Balance Sheet ................................................................................ 45
Figure 16: Pro - Forma Income Statement .......................................................................... 46
Figure 17: Pro - Forma Cash Flow Statement ..................................................................... 47
Figure 18: Financial Analysis .............................................................................................. 48
Figure 19: Gantt Chart for In-BAND .................................................................................... 52
1.0 EXECUTIVE SUMMARY
Aucitech is a company that manufactures high-quality technology that focuses on devices that
ensure the safety of children, the elderly, and the disabled and our headquarters is in Shah
Alam, Selangor. Our company aims to be the most competitive and reliable company in
providing useful safety tracker for many people. Thus, our company mainly operates on
manufacturing products or devices that relate to gadgets. The product was created in order to
address a few potential issues. For example, these groups of people may be confronted with
an unwelcome incident if no safety measures are in place. When confronted with the incident,
the vast majority of these people had no idea how to summon assistance or defend
themselves. Thus, Aucitech manufactures Informative Band, also known as In-BAND, falls
under the improved and revised category where it improves on an existing product by
providing both functional and practical changes. The enhancement includes changes to the
product's functionality, features, design, as well as enhancements according to the target
market's needs and preferences. Many factors are considered when developing the product,
including ease of use, low cost, and additional features.
Other trackers are available on the market, but their features are significantly different
from ours. Although this type of smart device technology is not new to the industry, the smart
features of our products are absolutely unique and outstanding. GPS tracker on the market
are generally used merely to for tracking a certain object or person and has plenty of
weaknesses to its designs as well limitations on what could potential be better. Our product,
however, differs from the features. In-BAND has a variety of improved features compared to
other products in the market. This is because In-BAND contains a GPS tracker, an emergency
alarm button, and it displays the current time. The product’s feature is quite useful to give the
consumers an easy and accessible way for monitoring their loved ones, especially for those
parents with busy packed schedules to monitor their kids. We believe that this newly improve
product has a great potential to compete in the market to solve these problems.
As for the target market, it has already been classified as the target which could bring a very
high profit. This product is easy to use because family members who bought it for their children,
elderly, or the disabled only need to set out the coverage area within certain miles based on
the individual's preference and give it back to them to wear it on their wrist like a normal
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bracelet. If the users leave their coverage area, an app will send a notification to their
respective guardian, and action can be taken as a result. Similarly, if danger is approaching,
users can simply tap the emergency call icon on the band screen, which will immediately
summon help. Our products must be simple and easy to use because our primary users are
children, the elderly, and the disabled.
In a business, competitors will always be there to outdo us at every turn. We must be aware
that this is a constant challenge that we would need to face in this field. The competitors are
examined in order to draw comparisons and enhance our product. The strengths and
weaknesses of their products shall be gathered from the examination made in which it can
help us improve the features of our product. In addition, the implementation of strategies for
product enhancements and marketing tactics are needed to ensure that our product is of the
highest quality, a best seller, functional as well as beneficial to the target audience. Therefore,
in order to be constantly competitive, we decided to provide the best features and function
once we have identified the competitors’ weaknesses. It is necessary to follow the future
technology trends based on the market demand. In-BAND will have a long-life battery in
comparison to other competitors’ products based on their weakness. Other than that, an
emergency button will be added to it and it will notify the guardian through the mobile apps as
well as help to lower the anxiety of the guardians or parents on their loved ones’ safety.
All prosperous businesses had a competent management team. To make sure that our
business is the finest among its competitors, we have the best firm organisational structure.
Each team member has a specialty related to their position and obligations. The chief
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executive officer (CEO) holds the highest position and is responsible for overseeing all
managers and issuing orders to ensure smooth operations within the business. As the CEO's
right hand, the chief marketing officer (CMO) makes sure that the organization's message is
conveyed positively across all mediums and to the targeted audiences. In addition, the
marketing manager will be in charge of the marketing strategies to make sure the product
gains market recognition and is in high demand. The company's funds will be under the
financial manager's supervision and control to prevent the company from overspending or
bankruptcy. Furthermore, the operational manager is tasked to ensure that all business
operations runs efficiently and seamlessly. We thought the firm had a promising potential to
become one of the largest market holders for safety trackers with all these roles in the
management team.
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2.0 PRODUCT DESCRIPTION
Aucitech is a company that manufactures high-quality technology that focuses on devices that
ensure the safety of children, the elderly, and the disabled. The product was created in order
to address a few potential issues. For example, these groups of people may be confronted
with an unwelcome incident if no safety measures are in place. When confronted with the
incident, the vast majority of these people had no idea how to summon assistance or defend
themselves. Thus, Aucitech manufactures the Information Band, also known as the In-BAND,
where the product falls under the improved and revised type, which replaces existing products
by providing both functional and practical changes. The enhancement includes changes to the
product's functionality, features, and design, and it is being developed in response to the target
market's needs and preferences. Many factors are considered when developing the product,
including ease of use, low cost, and additional features.
Aucitech decided to use the terms "Fix at your wrist, buckle up, and your safety is secure" in
the product's application. In-BAND is outfitted with features such as GPS Trackers,
Emergency Alarms, and Safety Coverage Area Detectors, and is linked to apps that notify
other parties about the user's safety status, and is precisely designed in accordance with the
safety measure added into it in the form of a band. This product is simple to use because
family members who bought it for their children, the elderly, or disabled people only need to
set out the coverage area within certain miles based on the individual's preference and give it
back to them to wear on their wrist like a normal bracelet. If the users leave their coverage
area, an app will send a notification to their respective guardian, and action can be taken as a
result. Similarly, if a danger is approaching, users can simply tap the emergency call icon on
the band screen, which will immediately summon help.
Figure 1: Illustration of the Usage of our In-BAND that will connect to the Application
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2.3 Comparison with Other Products and Features
Samsung
Baseus Smart
In-BAND Apple Air Tag Galaxy
Tracker
SmartTag
Design
From RM From RM
Price RM 72.00 RM 31.90
139.00 149.00
31.9mm
Dimension - 54mm x 54mm 39mm x 39mm
diameter
Time, Tracking
Attach to stuff
user and limit
Function Tracking stuff Tracking stuff and control
coverage area
IoT devices
(geofencing)
Button is press
Emergency
to send real None None None
Alarm
time location
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Buyers will be
alert when
Coverage Area None None None
user exceed
coverage area
Ringtone is
GPS tracker played or
Anti-loss device
and LTE The iPhone led Samsung
finds its location
Location determined to precision Galaxy
through “Baseus
user exact finding. Phones
Intelligent” App
location pinpoint the
location
Another iPhone
user could help
to track down
Interconnect
Functionality at the Air Tag but Smart home
Advantages with all mobile
its best all the functionality
phone using App
information is
anonymous and
encrypted
Samsung
Air Tags do not device
Does not have
have holes exclusivity and
GPS, require to
Dis- advantages The design would allow them Smart home
download the
to be positively functions only
App
attached work with
SmartThings.
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2.4 State of Development and Functional Specification
The estimation time for the launch process for this product takes about 1 years
3 months due to the complexity of the product. This is because, the more complex the
product is, the longer it takes to produce the product. Besides, the total cost required
for product testing is about RM4,520.00 which includes cost for the product, cost for
shipping, cost of human resources and cost for the data collection. Meanwhile, as for
the marketing cost, it is estimated to be about RM250.00 since our company is using
a simulated test marketing method. In-BAND emphasises four aspects, price, quality,
features and user friendly, therefore our company offered a affordable price for this
product which is about RM 72.00 which is suited to the financial capabilities of the
customers and considered to be cheaper than other competitor’s products. Hence, our
product has higher possibilities and chances in the market.
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2.4.2 Functional Specification
The product is comprised of 5 components which are digital clock, emergency alarm,
GPS, rechargeable battery and adjustable strap. All of this component has its different
functionality which will give benefits to the user.
Part Function
This component will be use as to display the time
digitally which easier to be read and more
accurate compared to the analog clock. The
Digital clock
features of this component also will have the
snooze function which can help to awake the
user on the time that has been set up.
It is used as to send the emergency notification
through the microcontroller to the purchaser and
Emergency alarm
to emit the high frequency sound whenever the
emergency button is touch.
This component is made of rubber which is used
to secure the fitting of the product at the wrist of
the user. The features of the component that
Adjustable strap allow the strap to be adjustable according to the
size of the user’s wrist also will give a
comfortable fit and prevent the product to be
easy easily loosening.
It is used to provide the users with the services
of positioning, navigation, and timing (PNT)
where it will be used as to show the location of
GPS
the user to the purchaser by showing through the
apps that has been synchronized with the
device.
It is the main sources of power for this wearables
device in which can be charged whenever the
battery is getting low. The type of battery that
Rechargeable battery
used in this device is the lithium battery due to its
higher power capacity that allowed the long
lasting of functionality.
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The In-BAND smart tracker was invented as to be tracked through the mobile apps
that need to be install by the caretaker or parents that intend to control the movement
of their child. This device is fixed at the wrist of the children or elderly who needed to
be monitor on their movement as to know the exact of their location. Moreover, through
the apps that has been linked with this device, the guardian also will receive notification
whenever their child has exceeded the specified restriction area so that they can
identify their location earlier. Besides, with the features of emergency alarm, the user
of this smart band also can send the emergency alert to their guardian just only with a
one touch button and the alarm will produce sound as to triggered the surrounding
area whenever there is emergency that occur. Also, this smart band also can become
a digital watch which would be easier for the children to see the time. Since this device
used a rechargeable battery, thus the user did not have to keep buying new battery as
to ensure that the device working smoothly.
In order to prevent the product from being misused by third parties, In-BAND will submit an
application for intellectual property protection. Therefore, it is prohibited and protected by law
for unauthorized parties to use any works that have been created. The Industrial Design of
Intellectual Property will register the Safety Band invention (IP). The Patents Act of 1983 states
that a patent is a type of intellectual property right that gives an inventor the only authority to
create, use, and sell an invention for a time frame of up to 20 years. As a result, AuciTech Sdn
Bhd. can enhance the design and development to increase the product's profitability
throughout that time.
They will determine if the application complies with the Patents Act of 1983 later. The
company's logo will then be submitted as a trademark. It can be extended once every ten
years and will be valid for ten years after the application date. By doing this, AuciTech Sdn
Bhd. will receive the sole right to use the marks in commerce and will have the ability to file a
lawsuit under the Trademarks Act of 1976 against anyone who uses the logo without
authorization. Having a trademarked logo will aid in marketing because it is common for
customers to base their purchases on the ongoing influence of advertising. Patents or other
product features that are proprietary.
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2.5.1 Emergency Alarm
The emergency alarm functions as an SOS signal in this In-BAND, warning and
alerting buyers who bought it for a loved one who sent emergency messages via an
app using a microcontroller and the people in the immediate vicinity by releasing a
high-frequency sound in case any unanticipated circumstances occur. This alert also
serves as a call back, allowing the buyer to phone the user to make sure everything is
under control until assistance arrives.
This core capability was included to maximise its utilisation. This In-BAND has an
analogue to preserve the traditional timekeeping of the hour, minute, and second.
The chosen arithmetic numbers are printed on. Last but not least, the distinctive
ticktock sound of the watch is closely associated with these analogue watches.
The built-in GPS sensor syncs the In-BAND with a smartphone app, allowing you to
track your loved one's movements while they are outside of the coverage area that
was already established earlier, as well as their route on a map and their geolocation
coordinates, which transmit data to a cloud server.
Nowadays, we often heard about the increase in criminal cases. This causes a stir in the
community due to the spike of fear and panic amongst Malaysian citizens in regards to their
loved ones’ safety. Reported criminal cases has gone up amid the post Covid-19 pandemic.
Homicide, robbery, theft, burglary is amongst the reported criminal cases that has increase
post pandemic. However, abduction cases are especially concerning with its rise in reported
criminal cases currently. It causes major concerns when it involves children, the elderly or an
disabled person as well as our loved ones. Therefore, a protective measure should be taken
into place to ensure the safety of our loved ones. This provide opportunities for the use of In-
BAND as a safety tracker in ensuring the rate of abduction cases in Malaysia to decrease as
well as to take a precautionary step to avoid any unwanted accidents from happening.
Moreover, In-BAND Technologies are also equipped with the latest technology which
are suited with the fast-growing digital world. In-BAND is in the form of a smart watch which is
the current trend in the market. With the fast-paced technologies, we will need a person with
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technical knowledge to help us adapt our product to fit the latest technology that may appeal
to the young generations as well as be simple enough and relevant to the older generation.
The smart tracker features alongside an additional feature which is long battery life and
functions similarly to a watch will completely enhances the usage of the product. This will carry
In-BAND to be able to developed further according to the latest technologies.
Other than that, there are also opportunities in the aspect of design and features.
Based on the survey, consumers love a more minimalistic design. A simple design of In-BAND
is classier and more suited for every day casual use instead of it being flashy and hard on the
eyes. It is also important to note that In-BAND will mainly be used on children, the elderly, and
disabled people, so a more minimalistic design is best suited for all the target customers. In-
BAND comes in various colours to provide a variety which the customers can choose their
favourite colours. In terms of its features, In-BAND has a long-lasting battery life compared to
other smart watches currently in the market. It also has a function of a watch alongside the
main function of In-BAND, a GPS tracker that can automatically connect to the mobile. Another
improvement of In-BAND is that it has an approval from SIRIM which can convince more
people to buy this product since it is safe and SIRIM approved.
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3.0 TECHNOLOGY DESCRIPTION
The key components related to our company’s product are In-BAND unique features. The
unique features such as A safety measure that is added to it in the shape of a band is precisely
designed into the GPS trackers, emergency alarms, and safety coverage area detectors. By
connecting to smartphone apps, the GPS sensor in your smartwatch can assist you in
navigating to your destination. For the most precise inside and outdoor location data, In-BAND
devices are used. To notify loved ones if the boundary is crossed, safe zones or geo-fences
can be established. Devices have an emergency button that, in the event of a kidnapping or
other emergency, activates an automatic locator beacon and, if necessary, an armed response
squad to assist in rescuing loved ones who are in danger.
It is difficult for busy parents to keep track of where their children are. Monitoring your
child's whereabouts gives you piece of mind when they go outside to play while also assisting
in ensuring their safety and well-being. Now, parents can log onto the app and get a real-time
location for their child if they can't find them. Different GPS trackers for children exist. Some
just offer a most recent location roughly every fifteen minutes. will always have the most recent
information on the whereabouts of the child thanks to the In-BAND smart band.
Aucitech used a systematic source of internal and external sources to obtain an intelligent
idea that would be beneficial for many people as it will help us to have a wide range for the
target market during the Research and Development phase. In-BAND was created for safety
purposes, and it is used to track a person's location as well as to give and receive emergency
alarm notifications when an emergency occurs. The product idea description is important
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because it indicates the functionality of the product precisely in one sentence, making it easier
for the customer to understand how to use the product. Several factors must be considered in
order to ensure that the product meets market demand. These factors include marketing
factors, production factors, development factors, and financial factors, all of which must be
well organized if a high potential profit is to be realized in the future. Therefore, the R&D team
must conduct R&D activities in testing and developing new technologies in order to enhance
and keep providing valuable and relevant products to ensure the longevity of the business.
Consumer input will be taken into consideration in order to satisfy market needs and
expectations. They must test numerous features and concepts in order to monitor the
product's efficacy. The product can be deployed after it has successfully completed the testing
process.
As to keep the quality of our product, this smart tracker band will be patent under the utility
patent as to protect this invention from being copied, created and sold by other party without
our permission. This regulation is made as to prevent from any fake product that produce by
using the similar design, features, and concept as the In Band. All of the information regarding
this product will be protected securely under the copyright and trade confidential.
There are a lot of decisions to be made regarding market research, the tech stack, features,
testing, vendors, time periods, budgets, and launches. In fact, specialized knowledge,
experience and skills are the most pivotal aspects to develop a product. Making a
comprehensive and in-demand product within budget while working with a dependable tech
partner is the problem, not just in building a multi-level product with many beneficial features.
Therefore, the control system of In-BAND required basic programming knowledge and skills.
Navigation technologies are on the rise because of the simplicity of its concept and a broad
spectrum of usage to tracking one location precisely anywhere in the world. The use of suitable
programming language in this In-BAND is crucial to ensure all the system is working as
expected. Arduino Integrated Development Environment or Arduino Software (IDE), was
implemented in this In-BAND to integrate the right coding code. This software contains a text
editor for writing code, a message area, a text console, a toolbar with buttons for common
functions and a series of menus makes it an easy to use software
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3.5 Regulation on the use of the Technology
The launch of the In-BAND requires certain licences and permits that are needed to be applied
for before starting the whole business. First step to be taken when establishing a business
company is to register under Suruhanjaya Syarikat Malaysia (SSM) where a registration form
will be given to the business owner to be filled in with relevant details required by the
organisation. This application will enable the business legal which the details will then be
forwarded to the government body to review on the development and ensure the users of the
authenticity and verification of the business information. The next step is to register the factory
to be used for the manufacturing process of the product. An application will be made under
the Malaysian Industrial Development Authority (MIDA) for the registration of the factory
licence. MIDA is a government agency that monitors, assists, and encourages the investments
for the manufacturing and service sectors within the country.
Just like the first step, the registration for the factory licence under MIDA will also
require the business owners to fill certain forms with any required and relevant details
regarding the business itself. Moreover, in order to release a new product, the safety and
efficiency of the product need to be approved by the regulatory authorities to ensure safety
and consumer protection. As for electronic equipment, the regulatory body is the energy
commission which is Suruhanjaya Tenaga (ST). Therefore, the electrical Supply Act 1990 and
Electrical Regulation 1994 require manufacturers to apply for Certificate of Approval (COA)
since all the electronics have to be registered with SIRIM QAS International Sdn Bhd before
it can be officially sold in Malaysia.
It is necessary to follow the future technology based on the market demand. In-BAND will have
a long-life battery based on the weakness of other competitors’ products. Other than that, an
emergency button will be added to it and it will notify the guardian through the mobile apps
and it will help to lower the anxiety that the guardians or parents experience for their kids'
safety. The improvement and revision procedure are made in accordance with an inspiration
from other similar products. Companies such as Apple, for example, produce Air-Tag, which
is a tracker in the form of a keychain that has been used to keep track of any stuff that is prone
to being forgotten by attaching the tag to the stuff and it will be appear on the radar stating the
exact location of it through Find My app, which is also produced by Apple. Another example
is the Xiaomi Mi brand's production of smart band trackers that specifically track in terms of
health such as sleep pattern, fitness, monitors heart rate, and many more. Therefore, with the
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inspiration gained from these big brands, AuciTech decide to make a revision as well as an
improvement to the existing product by implementing Information Band that also knows as In-
BAND that are mainly used for safety purposes towards kids, elderly and disable people which
consist of common and new features like GPS Tracker, Emergency Alarm (SOS), as well as
Safety Coverage Area Detector in form of band where it linked to an apps that notify other
parties regarding the safety status of the user. The example of improvement can be seen
where the functionality is made for other purposes and other features are newly added.
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4.0 MARKET RESEARCH AND ANALYSIS
4.1 Customers
Market segmentation can be defined as a process of dividing the markets into several potential
group of customers which have similar necessity and criteria that likely to show the similar
intent of purchasing behavior. The objective of this segmentation process is to examine and
evaluate the markets as to find the opportunities and exploiting the competitive position. This
objective can be accomplished by selecting several groups of users to become aim in
performing the marketing strategy activity (Weinstein, 2010). As for this report, there are
several groups of market segmentation that we targeted which are demographic,
psychographic and geographic. All of this group will help us to identify each of our targeted
customer in order to be easier for us in performing the market strategies.
4.1.1 Demographic
For this group segmentation, there are several criteria of targeted customer that will be
analyze such as in terms of age, gender, income, education, and occupation. As for
our product, the targeted customer would be from both gender which are female and
male with the age of 20 years and above and have of more than RM1,000.00. The
selection to this range of age is because the functional of this In Band is very universal
where it could be purchase and use by every group of users either student or young
adult that already work. Besides, the consideration on occupation for our product also
may varies as this In band can be purchase by housewife or caretaker that need to
manage their kids or elderly. Moreover, as for the range of income, as we all know that
the average amount of income in Malaysia is within RM 1,000.00 and 58% of our
responder that intent to buy the product also has income range of below RM1,500.00.
Thus, the target market for our customer in terms of level of income is relevant.
4.1.2 Geographic
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4.1.3 Psychographic
The terms for psychographic segmentation can be defined as market analysis that is
made accordance to the psychological criteria such as in terms of their beliefs, interest,
desires and benefits obtained when purchasing a product (Dolnicar et al., 2018). As
for our product, considering on the functionality provided, it is belief to be very useful
for the caretaker and parents that have to manage their kids, elderly or disable people
in ensuring their safety. The benefits from all the features that consist in this product
will enhance the interest of people to buy our product. Compared to the other group of
market segmentation, this psychographic is belief to be the most purchaser for our
product as it can fulfil the preferences of people in keeping the safety of their loved
ones.
Moreover, this product also can be easily reach by every people as the customer may
purchase this product through the online store and official website and the product will be
shipped within 3 days after the date of customer place for order. Besides, in order to widen up
the market of this product, it is also will be promoted at several approved retail store that sell
variety of gadget so that the customer may easily buy the product.
The term "market size" describes the target market's overall purchasing power. Predictions of
market size are used to design company strategies. Opportunity identification in the market is
crucial to ensuring that the product captures the market's interest right away. According to the
Department of Statistics Malaysia, the total market size of our product is as follows:
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is contracting, businesses should fight for their current clientele. Firms may indeed shut down
when there is a shortage of labour, leaving potential customers on the table. Due to its
advantages, the potential customer will be completely informed of the goods. However, a
growing population provides a steady influx of new customers, whereas business closures are
uncommon and can take years. Malaysia's population is anticipated to reach 42.07 million in
2068.
Economically speaking, it is more challenging to compete for repeat business since
switching costs may be involved and because well-established businesses are more familiar
with the tastes of their clientele. The minimum price that will be spent by customer for our
services is only RM 72.00, so we can predict about each 40% of customer that lives in
Malaysia would be interested to buy our products throughout our marketing campaign over
the year Furthermore, long-running, well-established businesses are more likely to have
greater cash reserves, lower debt levels, and established banking relationships that facilitate
borrowing. Because of its benefits, the potential buyer will be fully conscious of the product.
Illustration
Less recognize in
Market Worldwide Worldwide
Malaysia
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Only as tracker
Functionality but does not track Only as tracker Only as tracker
motion
Simple small
The Design Simple rectangle Simple square
circular
In white, blue and
Color None Black
pink
Only can be connected
Only can be Can be connected to Samsung user and
Usage connected to all Android and Smart home function that
iPhone user iPhone using App only work with
SmartThings
180 days and easy
Battery Life 1-year battery Nearly a year
battery replacement
Using accessories
that needed to be
How to bought separately Package comes with Have a hole that allowed
Attach because it is lanyard to attach on keychain
originally does not
have any holes
Advantages Disadvantages
Variety Functions The Design
• Offer a variety of functions, including • The design of this In-BAND is too
time, user tracking, and coverage bulky leaves it too exposed and
area limitations; geofencing is now takes up a lot of spaces when
the most popular and immensely bringing it in bag.
potent technology to harness the
potential of location-based services. Limit in Color
This technology focuses on the • Although AuciTech Sdn Bhd
virtual perimeter that builds around offers three distinct colour
specific geographic locations in schemes which consist of pastel,
order to send users personalized bold, and neutral but, each of
messages.
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these categories is only offered in
Variety Usage a limited number of shades.
• Can be used for children, pets,
things, or even vehicles. There is no
limitless to be used on anything
unless needed to download its
application to connect and monitor
the In-BAND. In contrast to
Samsung Galaxy SmartTag, which
exclusively works with Samsung
smartphones.
Easy to Setup
• The setup procedure is quite simple.
This In-BAND will be automatically
identified if you add it as a new
device using its application, which
needs to be downloaded from the
Google Play store.
Affordable
• In contrast to others In-BAND is
quite reasonably priced. All the
functions and features that are
provided are worth the amount you
paid.
The market share of the existing companies in the sector will decrease by a little percentage
when a new one enters the market. This is because the new company entering the industry
and competing in the same market will receive a percentage of the losses. We may infer the
market share of our product for the following three years based on how well our customers
are responding to In-BAND. We made the supposition that market share would be 10% on
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first year then gradually increase by 5% over the course of a year. The estimate is displayed
as follows.
Year : 2022
= 10% x RM 60,500,000.00
= RM 6,050,000.00
With the number of cases of missing children that keep increasing each year, all the guardians
are searching for a way to tracking and be aware of their children’s or elderly daily activities
each day. Did not consider it to be profitable, but there is potential for a growth in the market
to develop. Based on the customers’ acceptance of our product, we can predict our product
which is In-BAND market share for 3 years. For the assumptions, we had assumed that the
increase of market share was 5 percent for each year. As shown in the table below, the total
sales increased each year.
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4.5 Marketing Strategy
Parameters Descriptions
Brand In-BAND
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4.5.2 Pricing Strategy
Product
Brand
In-BAND
= RM 72.00
The In-BAND smart tracker will be sold at the price of RM 72.00 due to each of the
component that made of high-quality material and the features provided that are very
useful. The high technology adapted through this product also is one of the factors that
determine this price allocation in order to provide a hi-tech device with an economical
price to the customer.
Our company will pique consumers' interest and encourage them to test our brand.
When they are satisfied with the features and functionality of our product, they will
purchase it. This information band is accessible to everyone; children, the elderly, or
disabled people are not the only ones who may get it. The process of convincing a
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potential consumer to purchase the goods is known as sales marketing. Sales
promotion is rarely an effective way to foster long-term client loyalty because it is
intended to be employed as a short-term strategy to enhance sales. The objective of
sales promotion is:
ii. Gifts
Aligning with common shopping holidays is a great way to catch our customers’
interest while they’re already on the lookout for gifts, special offers and limited-
time deals.
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4.5.4 Service and Warranty Policy
This In-BAND will be protected by a warranty of 3 years. It will only be covered if the
failure was caused by a system or mechanical issue, not by client-caused damage.
Customers can get more information on our company's website if they have any
questions, or concerns.
Warranty
The only physical items covered by this Limited Warranty are those bought through In-
BAND (the "Physical Goods").
Any flaws in the materials or workmanship that arise from regular usage during the
Warranty Period are covered by this Limited Warranty.
Under regular use and maintenance, In-BAND shall, throughout the Warranty Period,
repair or replace, free of charge, any products or components of a product that prove to
be defective due to subpar material or workmanship.
Using fresh or reconditioned replacement parts, In-BAND will be free of charge to fix the
Product.
For Physical Goods acquired from In-BAND, the warranty period lasts 180 days from the
date of purchase. A replacement physical good or part takes on the original physical
good's remaining warranty for 180 days after the replacement or repair, whichever comes
first.
To obtain warranty service, you must first contact us to determine the problem and the
most appropriate solution for you.
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Contact us:
Email: customercare@aucitech.com.my
As for the promoting and marketing purposes, there are several medium that we
choose in advertising our product which are through printed promotion, social media
and online website.
i. Printed promotion
As for the printed promotion, the flyers and business card of our product will be
distributed widely through every channel. For example, whenever the customer
purchased our product, we will include with the business card in their parcel in
order to be easier for the others to know at which medium to buy the product.
Meanwhile, for the flyers, it will be distributed randomly to people anywhere.
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Figure 5: Front and Back Page of our Business Card
Besides, our company also have online website in which it will be use as the
medium for the customer to buy our products. The customer also can obtain all
the information of the product such as price, specification and method of
purchasing through this website. Moreover, we also will provide the
demonstration on how to use the product as for the better understanding for
the customer in using the product. Furthermore, we also will advertise for any
sale that we made for the product through this website.
www.inband.com
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4.5.6 Distribution Strategy
For the strategy in widening the coverage of our product, there are two marketing channel that
will be used which are direct channel ad retail channel. As for the direct channel, the In- Band
smart tracker will be advertised via online platform which are through our official website and
online store such as Shopee and Lazada. As the customer placing order through all of these
websites, we will start the shipping process as to deliver to the customers within a week so
that the customer will be satisfied with the services provided by our company.
Meanwhile, for the retail channel, our product will be marketed through several
approved retail store that sell gadget. In order to keep the quality of product, we will carry out
the quality checking for all of our product before it is being delivered to the retail store as to
ensure that there are no quality issues regarding the product.
Direct
Producer Consumer
Channel
Retail
Producer Retailer Consumer
Channel
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5.0 MANAGEMENT TEAM
A management team is a group of senior executives who cooperate with the chief executive
officer of the organisation in developing the business strategy together and ensuring that the
business objectives are achieved. The management team may meet once a week, once a
month, or once a quarter, depending on the type of organisation and it is frequently organised
around the direct reports of the top-ranking executive. This section will be divided into 4 parts
which are Organisations, key management Personnel, Management Compensation and
Ownership, and Supporting Professional Advisors and Services.
5.1.1 Organisations
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• Assists the company in developing
an overall system based on the
requirements for successful
implementation.
Qualification(s):
• Master of Business Administration (MBA),
Wawasan Open University.
• Bachelor of Information Technology (Hons) in
Software Systems Development, Tunku Abdul
Rahman University of Management and
Technology.
• Member, Malaysian Board of Technologists
(MBoT).
Muhammad Azim Bin Skill(s):
Ahmad Dahari • Effectively communicate with the teams and
lead them towards achieving the goals.
Chief Executive Officer
• Design a good strategy that combat change
(CEO)
and result in profitability in the long term.
• Manage to identify opportunities in difficult
situations and involve others in decision-
making.
Experience(s):
• Information Technology Manager at Dell
Technologies from 2011 to 2016.
• Software Developer at UnicSoft.
• Three years’ experience as Business
Administrator at Samsung Electronics.
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Qualification(s):
• Degree in Business Administration, University
of Malaya.
• Master of Business Administration, The United
Nations Institute for Training and Research.
Skill(s):
Siti Nur Atiqah Binti Sukri
• Excellent organizational abilities.
• Effectively communicate with the team by
Administrative Manager
utilizing various communication styles such as
verbal, nonverbal, and others.
• Capable of efficiently multitasking multiple
tasks.
Experience(s):
• Four years’ experience working with Acer
Malaysia as Senior Admin Executive.
Qualification(s):
• Chartered Accountant, Malaysian Institute of
Accountants (MIA).
Skill(s):
• Develop well-planned crisis management
Amiesya Sofina Binti strategies.
Mohd Fuad
• Monitor funds analytically and make sound
decisions in difficult situations.
Financial Manager
• Be able to recognize potential crises and
market trends.
Experience(s):
• Senior Executive from 2013 to 2018.
• Financial Analyst and consultant at Sony (M)
Sdn Bhd.
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Qualification(s):
• Bachelor of Science (Honors) in Mechanical
Engineering (Manufacturing and Automation),
University Putra Malaysia.
• Master of Mechanical Engineering, University
of Bristol, United Kingdom.
Qualification(s):
• Bachelor of Marketing and Management
(Hons), University of Nottingham Malaysia.
• Master of Marketing, University Malaya.
Skill(s):
• Have an excellent sales and interpersonal
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5.2.2 Duties and Responsibilities
33
• Analyze costs, pricing, variable
contributions, sales results, and the
company's actual performance in
comparison to the business plans.
• Analyze costs, pricing, variable
contributions, sales results, and the
Amiesya Sofina Binti company's actual performance in
Mohd Fuad comparison to the business plans.
• Solve tactical problems, make critical
(Financial Manager) choices, and maintain stakeholder
relationships.
• Predict trends and plan future corporate
expenditures, regulations, and
procedures.
• Protection against and reduction of the
effects of business crises.
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• Experiment with organic and paid
acquisition channels such as content
creation, curation, pay per click
campaigns, event management, publicity,
social media, lead generation campaigns,
copywriting, and performance analysis.
• Develop and monitor the marketing
budget on a quarterly and yearly basis,
and strategically distribute funds.
• Examine consumer behaviour and make
necessary adjustments to email and
advertising campaigns.
Syazahelena Binti
Zainudin 3,000 15 45,000
(Marketing Manager)
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5.4 Supporting Professional Advisors and Services
Name of Professional
Services Provided
Advisors
(Prestige Wealth Advisors) • Consult the clients regarding the financial plan by
determining the client’s expenses, insurance
coverage, income, tax status, and the risk
tolerance.
(Cres Consultants Legal & • Responsible for reviewing and preparing the
Corporate Advisors (944493- contract, agreement or the other legal
M)
documents.
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6.0 FINANCIAL PLAN
Capital expenditure projection, commonly referred to as operation costs, is the initial sum of
money required to finance a business's ongoing operations up until it makes its first sale. How
much working capital the company needs will depend on how long it will take for it to generate
enough revenue to meet its immediate expenses. The difference between a company's current
assets and current liabilities is known as working capital. It is a gauge of a business's
operational effectiveness and immediate financial stability. Working capital is used to pay
operating expenses and pressing demands. If a company has enough working capital, it can
continue to pay its employees, suppliers, and other bills like taxes and interest even while it is
experiencing cash flow problems.
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6.2 Pre – Operating and Working Capital
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6.3 Sales and Purchases Projections
39
6.4 New Project Implementation Cost
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6.5 Sources of New Project Financing
Depreciation is a fixed cost under most depreciation techniques because the amount is
predetermined annually regardless of how successful the business is. Businesses develop a
plan of depreciation expenses for investments in assets whose values decline over time.
Using depreciation, a business can purchase equipment for an assembly line that is used in
manufacturing.
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Figure 12: Depreciation of Fixed Cost
42
6.7 Loan Amortization and Hire – Purchase Schedules
A cash flow statement is a financial statement that lists the total amount of money and money
equivalents coming into and going out of a business. Additionally, it evaluates how effectively
a company manages its cash position, that is, how well it generates cash to cover its debt
commitments and finance its operating costs. Because it tracks the cash generated by the
business in three keyways which are through operations, investment, and financing. The cash
flow statement is the most understandable of all financial statements. Net cash flow is the total
of these three components.
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Figure 14: Cash Flow Forecast
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6.9 Pro – Forma Balance Statement
A balance sheet is a financial statement that lists a firm's assets, liabilities, and shareholders'
equity at a certain point in time. It also serves as a foundation for calculating return rates and
assessing the capital structure of the organization. A financial statement that gives a quick
overview of a company's assets, liabilities, and shareholder investment.
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6.10 Pro – Forma Income Statement
One of the three crucial financial statements used to present a company's financial
performance over a certain accounting period is the income statement. The other two
significant financial statements are the balance sheet and the statement of cash flows. The
income statement, which is often referred to as the profit and loss statement or the statement
of revenue and expense, primarily focuses on the company's revenues and expenses over a
specific period.
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6.11 Pro – Forma Cash Flow Statement
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6.12 Financial Analysis
Liquidity
Profitability
Financial
Leverage
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7.0 PROJECT MILESTONES
Milestones are project life cycle tools that may be used to monitor the development of a project
or product, and it typically has a start or end date to enables businesses to achieve its final
goal. The series of milestones was used to establish the details of the new product
development process. The new product development process usually begins with project
initiation and finishes with business maintenance. The figure below shows the flowchart of our
product's milestones.
START
Project Planning
Concept Development
Engineering Development
and Design
Production Planning
Distribution and
Delivery of first sales
END
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The table below shows the activity that will be done in detail and is transferred into a Gantt
chart:
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Testing and quality assurance of the
prototype usually include the function of
features testing, mechanical testing and
Testing and 3 Months Quality Assurance
compliance testing. Any issues
Improvements Team
regarding design and work should be
identified and documented as well as
resolved by the engineering team.
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Figure 19: Gantt Chart for In-BAND
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8.0 CONCLUSION
A business blueprint is necessary for any start-up businesses since it offers a step-by-step
procedure for determining the needs, goals, and overall strategy of the business. The business
blueprint guides In-BAND's development process by highlighting achievements and
developing a better understanding, making it easier to identify where modifications are
required or growth prospects emerge. Relevant analysis is pertinent before committing to a
particular subject. A thorough planning can help us to determine what products we can
provide according to the market demand and the way it will perform in contrast to competing
products. Therefore, this will shed light on whether the product will be suitable once
manufactured.
In addition to safety provider, In-BAND offers a better benefit as safety provider. In-
BAND is a safety tracker complete with a GPS tracker feature which is available in the current
market, however, its features are newly improved based on the weaknesses found on
competitors with similar products. Furthermore, it helps to lower the anxiety that the guardians
or parents experience for their loved ones' safety. Alongside our competitors, we conducted
adequate planning from New Product Development (NPD) to product's blueprint which allows
us to identify the potential target market for our product. As a result, it may enhance incentive
to improve the product's quality.
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9.0 APPENDICES
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Appendix 3: Resume of CEO, Encik Muhammad Azim
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