1

A
MINI PROJECT REPORT

On
AN INNOVATIVE PRODUCT - SMART BAND

SUBMITTED FOR PARTIAL FULFILLMENT OF THE DEGREE

OF

MASTER OF BUSINESS
ADMINISTRATION
By

Pawan Kumar Yadav

(Roll No.: 2201921570065)
MBA 2st Sem

UNDER THE GUIDANCE OF

DR. SUCHI MEHRA
ASST. PROF.
G L Bajaj, Greater Noida

G L BAJAJ INSTITUTE OF TECHNOLOGY AND

MANAGEMENT, GR. NOIDA
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STUDENT’S DECLARATION

I hereby declare that the survey, data collection and analysis work
related to Mini Project report titled "AN INNOVATIVE PRODUCT
- SMART BAND ‖
I, further declare that this work was neither published nor submitted
to any other institution for award of any other degree or diploma.

(Signature)
MANSI GUPTA
Roll no. 2210020
GNIT COLLEGE OF MANAGEMENT , Gr. Noida
Day/month/year
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DIRECTOR’S CERTIFICATE

This is to certify that the mini project titled “AN INNOVATIVE PRODUCT -
SMART BAND ” is carried out by MANSI GUPTA , a student of MBA – I
year at GNIT college of management , Gr. Noida, under the supervision of DR.
SURESH SHARMA This is an original work carried out by the said student to
the best of my knowledge and I recommend for the submission of this Research
Project report to Dr. A. P. J. Abdul Kalam Technical University, Lucknow in
the partial fulfillment of the requirement for the award of MBA degree.

( DIRECTOR)
GNIT, Gr. Noida
Date:
 4

ACKNOWLEDGEMENT

This project is the outcome of sincere efforts, hard work and constant guidance of not only
me but a number of individuals. First and foremost, I would like to thank GNIT, GREATER
NOIDA for giving me the platform to work with such a prestigious company in the financial
sector. I am thankful to my faculty guide DR. SURESH SHARMA for providing me help and
support throughout the Project Report period.

I owe a debt of gratitude to my faculty guide who not only gave me valuable inputs about
the industry but was a continuous source of inspiration during these months, without whom
this Project was never such a great success.

Last but not the least I would like to thank all my Faculty members, friends and family
members who have helped me directly or indirectly in the completion of the project.

MANSI GUPTA
Roll no. 2210020
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TABLE OF CONTENTS

CHAPTER NO TITLE

1. Preface

2. Acknowledgement

3. Introduction

4. Industry review

5. Methodology

6. Product description

7. Feasibility

8. Analysis

9. Limitations

10. References

11. Appendix
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CHAPTER 1: INTRODUCTION

Background
There is nothing more beautiful in this world than toddler’s smile or watching them discover

something new.

The historical backdrop of toddlers has been a subject of interest in social history since the

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.

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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
 8

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

feelings toward their infants.

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.

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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).
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CHAPTER 2: INDUSTRY REVIEW

Currently available products

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
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UP4 doesn't have a screen. The information is noticeable through the cell phone application

that is accessible for the two iOS and Android. Through NFC, UP4 permits to make

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.

Nymi band

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

administrative consistence in drug fabricating conditions.

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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.

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
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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

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.

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
 14

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 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.

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
 15

a similar kind of product at cheap prices. To withstand the need to establish the brand in the

market its important to know how the smart band differentiates itself from others. As its an

innovative product , as of now there is no major competitor who has this idea of introducing

a product. It should also know whether the mothers are willing to buy the product or not, that

is knowing their perceptions. This product is focussed on parents who are raising their

toddlers, so the target audience is fixed. Of course, the product motivates the parents who are

willing to know whether their kid is safe or not at home. This product delivers a quality

which will ensure a long-term success for this brand. Collaborating with a brand like Apple

will establish the brand in the industry which will minimise the possibility of other

competitors to spoil the brand’s position in the market.

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:

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.

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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.

Evaluation of Product: The parents who are the target audience will compare the smart band

with other products which are available in the market however as of now there is no major

competition.

Trial of the Product: The smart band needs to be tried on a set of consumers and feedback

needs to be gathered from the retailers who are selling this product in the market.

Product adoption: The smart band has been promoted enough and the feedback has also been

gathered from a set of consumers who used it. Now it is time to launch the smart band in the

entire market.

The full adoption process may take time from few weeks to some months in which the

promotion process will create an awareness in the minds of the consumer so that they can

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

+
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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
 18

bias in the data and at the same time level of trust increases in the accuracy of the collected

data. Mainly some essential elements of research design are present and they are very crucial.

The key elements are methods applied for analyzing the collected details, timeline, purpose

statement of the research, methods for collecting and analyzing the overall research and at

last measurement of the analysis. Selection of right research design helps a lot in attaining the

aim and objectives of the research.

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.

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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 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.
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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 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
 21

sources have supported in knowing about the pros and cons of the social media applications

and their effectiveness for the international businesses operating in the market.

3.5 Sampling

This part is associated with selection of respondents from whom information is collected in

the research. Selecting right respondent for obtaining data is most valuable in the study as it

helps a lot in attaining the research objectives. Two main sampling techniques are probability

and non probability (Kumar, 2018). In the probability sampling technique the key methods

are simple random, systematic, stratified and cluster. In the simple random technique every

individual in the population has equal chance of being selected. In systematic technique

individuals in the population are selected at regular interval, in stratified sampling individuals

are divided in group and in cluster sampling population is mainly divided into subgroups.

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

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.
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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 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.
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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.

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
 24

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 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,
 25

data analysis technique is qualitative where thematic method has been adopted. By applying

all the methodological tools in an appropriate manner it has become possible to attain the

objectives of the investigation.

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
 26

wristband it does not have a screen. The data is visible via thesmartphone app that is

available for both iOS and Android.Similar to most smart watches, this wrist band will use

abattery of type Li-Poly with a capacity of 38 mAh that isclaimed to sustain for 7-8 days

without charging. However, wehighlight that compared to smart watches, wrist bands

havebatteries with less capacity as they don’t have large displayscreens. Being a proprietary

platform that does not allow thirdparties to develop applications, details are less known

aboutit’s operating system and the CPUs used.

Unlike smart watches which usually come with an operating system,wrist bands are more

designed as embedded systems and somehardware details about them are not publicly

available.

The three different sensors which are embedded inside the wrist band are as follows

Temperature sensors

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,
 27

which use temperature sensors. Melting chocolate, using a blast furnace, controlling a hot air

balloon, freezing substances in a lab, running a motor vehicle, and firing a kiln.

Temperature sensors come in different forms, which are used for different methods of

temperature management. There are two categories of temperature sensors which are contact

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 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
 28

these thermometers.

Bi-Metal Thermometer: this thermometer type consists of a connected gauge and stem. The

tip of the sensor has a spring that is attached to a rod, leading up to the gauge needle. The

spring sits inside the stems sensing end. When heat is applied to the sensing coil, movement

in the coil is created which causes the needle in the gauge to move – thus displaying the

temperature.

Gas-filled & Liquid Thermometer: These thermometers are similar in terms of how they

work. There is a bulb either filled with gas or liquid. This is situated inside the sensing end of

the probe. When heated, the gas expands/liquid heats up which signals the attached rod to

move the needle tothe temperature being measured.

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.

Motion sensor

A motion sensor (or motion detector) is an electronic device that is designed to detect and

measure movement. Motion sensors are used primarily in home and business security

systems, but they can also be found in phones, paper towel dispensers, game consoles, and

virtual reality systems. Unlike many other types of sensors (which can be handheld and

isolated), motion sensors are typically embedded systems with three major components:

a sensor unit, an embedded computer, and hardware (or the mechanical component). These

three parts vary in size and configuration, as motion sensors can be customized to perform
 29

highly specific functions. For example, motion sensors can be used to activate floodlights,

trigger audible alarms, activate switches, and even alert the police.

There are two types of motion sensors: active motion sensors and passive motion

sensors. Active sensors have both a transmitter and a receiver. This type of sensor detects

motion by measuring changes in the amount of sound or radiation reflecting back into the

receiver. When an object interrupts or alters the sensor’s field, an electric pulse is sent to the

embedded computer, which in turn interacts with the mechanical component. The most

common type of active motion detector uses ultrasonic sensor technology; these motion

sensors emit sound waves to detect the presence of objects. There are also microwave sensors

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

radio waves)

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
 30

radiation in its environment. The most widely used type of passive motion sensor in home

security systems is the passive infrared (PIR) sensor. The PIR sensor is designed to detect the

infrared radiation emitted naturally from the human body. The receiver is contained in a filter

that only allows infrared to pass through it. When a person walks into the PIR sensor’s field

of detection, the difference in radiation creates a positive charge within the receiver; this

perceived change causes the sensing unit to send electrical data to the embedded computer

and hardware component.

CHAPTER 5: FEASIBLITY

Pricing strategies

The blend of new and old practices, such as antiquated propensities, new life-cycle climate,

hierarchical changes, and mounting guidelines, has expanded the intricacy of the item

improvement endeavors. The intricacy results from five fundamental sources: inborn item

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,
 31

1994). This is appeared in Figure 1. The evolvingeconomic situations (like worldwide

assembling, economy, and new advancement), and worldwide intensity are making the

timeto- market a quick contracting objective. Today, an vehicle – with intricacy a few times

higher than previously – can be produced in less time (regularly under three years). The

equivalent item, about a large portion of 10 years prior, used to take more than five years to

bring into the commercial center. While, its intricacy ten years prior, by the present norm,

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
 32

assumptions forthe exhibition pointers talked about by Prasad (1996). Items go downhill

rapidly, clients' energies disappear, and requests decrease. There is an extraordinary threat

that an item presented following not many long periods of its improvement may not stay

alluring for the market that existed at the dispatch time. Deliberately, presenting new items at

successive spans is additionally not a decent business arrangement. New items require

critical interests in upgrade, retooling and producing costs. Improvement costs comprise for

the most part of uses for representatives, uphold staff and testing. These costs will in general

increment relatively with the general time taken to finish the plan. Consequently, most

makers have focussed on shortening the time taken for new models to be planned and tried.

Toyota, for instance, has focused on diminishing the normal improvement season of its

autofrom 30 months to year and a half by this year-end. US Department of Defense (DOD)

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
 33

inclusions of a few "new apparatuses and innovation" along the route in item and cycle

zones. The concurrence supports adherence to add up to quality the executives and other

consistent cycle improvement change methods of reasoning. Such adherence necessitates that

a reasoning of progress be kept up to give a premise to the item going through persistent

change. A shortcoming of new item presentation is the passed time needed to put up the item

for sale to the public. Numerous producing organizations are losing the serious race around

there to the fast and viable execution measure which other fruitful organizations (for

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 deals of the Ford Mustang and GM Pontiac TransAm.Let us denote the sales
 34

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.

 35

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
 36

have acknowledged critical profitability upgrades with this early presentation of the items

into their association, they tend to keep utilizing it and put more into it. This will in general

have an extremely beneficial outcome on the subsequent deals volume of the organization E.

When another serious item was presented by a contender, organization E had just caught

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:

 37

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

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

Cost +Distribution Cost + Warranty Servicecost.

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

 38

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

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

L. Thus:

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)

 39

Absolute expense of the items can be gotten by increasing the business volume and the unit

item cost. At the point when another item is presented (that is during an underlying period 0

< t< T), thereis typically no or almost no opposition. The organization has seriously

estimating opportunity and subsequently can summon better benefits edges. The absolute net

revenues (TPM) of the two organizations would thus be able to be communicated as follows:

At time t<T;

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)}] –

 40

[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)

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?

 41

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%.

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
 42

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 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
 43

an arrangement of straight lines. Two straight lines are drawn – one for the market

development S-bend and another for the market decay S-bend. Another arrangement of two

lines is appeared for deferred "market section also, the market decay." Carter and Baker

(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

.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 ().

 44

Fig 5.3
 45

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)

 46

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.

Evaluation of Product: The guardians who are the intended interest group will contrast the

brilliant band and different items which are accessible on the lookout anyway as of now there

is no significant rivalry.

Trial of the Product: The brilliant band should be taken a stab at a bunch of shoppers and

criticism should be assembled from the retailers who are selling this item on the lookout.
 47

Product selection: The savvy band has been adequately advanced and the criticism has

additionally been assembled from a bunch of buyers who utilized it. Presently the time has

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.

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). :

 48

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

market.

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

accommodating and biodegradable liberated from any synthetic.

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

appealingly.

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

and approach Social media to advance.

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.

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.

 49

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
 50

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

strategy. There are manyexamples of organizational weaknesses. For example,a firm may

have a large, bureaucratic structure thatlimits its ability to compete with smaller, more

dynamiccompanies. Another weakness may occur if a companyhas higher labor costs than a

competitor who canhave similar productivity from a lower labor cost. Thecharacteristics of
 51

an organization that can be strength,as listed above, can also be a weakness if the

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.

 52

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

 53

may have a thoughtful effect on a company's accomplishment.Below is the PESTLE analysis

of Smart Band for Toddlers.

Political Economic

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

Mothers primary Innovation

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

Social Technological

Fig 6.2

Australia has a stable political government which provides a good for any evolving company

to drive innovation and technology into its business. However, the economic condition of

Australia is deteriorating since the outbreak of pandemic and global inflation may affect the
 54

product launch. People may hesitate to purchase this product so company should take some

innovative steps to promote the same as special offers, discounting schemes. In Australia

generally the burden of raising a child comes up to the mother as fathers are too busy. The

target audience will be mothers of these toddlers who can be persuaded to the idea of good

and safe parenting. Of course, the technological factor is there in which the product will have

to meet its expectations of the customer by creating competitive advantage. The company

should find an innovative way to deal with the technological threats that other companies

might introduce once the product is launched in the market.

 55

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.
 56

CHAPTER 8: REFERENCES

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

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other wearable devices for level and stair walking. Gait & posture, 48, 36-41.

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CHAPTER 9: APPENDIX

Questionnaire
Name

In your view what is the key challenge faced by your firm at global levels?
Dealing with competitors
Enhancing brand presence in different markets
Attracting and engaging customers
All of the above
Which kind of marketing tactic is adopted by your organization at global level to promote
smart band?
Traditional
marketing Modern
marketing All of
the above
In your view adoption of social media marketing tools is more effective in comparison
with other form of marketing platforms?
Y
e
s
N
o
Can’t say
How would you like to rate different smart bands?
Excellen
t Very
good
Good
Average
Poor
Which social media platform is mainly preferred by your firm for marketing and
promotion purpose?
Faceboo
k
Twitter
LinkedIn
Instagra
 59

Brand
differentiation Any
other
For international business management how smart band are effective?
They are cost effective
Customer interaction is
possible
Uniqueness of product and services can be highlighted
All of the above
Have you witnessed any such obstacles while analyzing smart band for your international
business?
Y
e
s
N
o
Can’t say
What are the main loopholes linked with the smart band?
Too much dependency on this
Requires high amount of monitoring
Accuracy
All of the above
At global level use of smart band add value to your brand and provide competitive
advantage?
Strongly
agree Agree
Neutral
Disagree
Strongly disagree
The smart bandis costlybut can help parents to take care of their child easily?
Strongly
agree Agree
Neutral
Disagree
Strongly disagree
What sort of additional advantage you have thought in smart band?
 60