ENTREPRENUERSHIP PROJECT

Innovative Product - “SleePro”

Acknowledgement

During the process of preparation of the project I have got immense help from
various persons, without which it would not have been possible to achieve this
goal.

First of all, I would like to place on record the efforts that our respected
Principal has made by granting permission on various fronts of conducting
research and also by providing materialistic support wherever needed.

I would like to thank ________________who guided me in doing these

projects. She provided me with invaluable advice and helped tremendously in
successful completion of the project.

I am equally thankful to my parents for giving moral support and ideas to carve
out this project. At last but not in least, I would like to thank everyone who
helped and motivated me to work on this project.
Index
 Introduction

MARKET SURVEY

A market survey, also known as a market research survey, is a systematic

process of collecting, analysing, and interpreting information and data about a
specific market, industry, or target audience. The primary purpose of
conducting a market survey is to gain insights into consumer preferences,
behaviours, trends, and opinions, which can be used to make informed
business decisions. Market surveys can be conducted by businesses,
organizations, or individuals to gather information relevant to their products,
services, or initiatives.

Some key aspects of a market survey:

 Objective: Market surveys are conducted with a clear objective in mind.

This objective could be to understand customer preferences, assess
market demand, evaluate competitors, identify market trends, or
explore new opportunities.

 Data Collection: Data is collected through various methods, such as

online surveys, telephone interviews, face-to-face interviews, focus
groups, and observation. The choice of data collection method depends
on the research goals and the target audience.

 Questionnaire Design: A well-designed questionnaire is crucial for

gathering relevant and actionable data. Survey questions should be
clear, unbiased, and structured to yield meaningful responses.

 Sampling: To ensure the survey results are representative of the entire

target population, a suitable sampling method is employed. This involves
selecting a subset of individuals or entities from the larger population.

 Data Analysis: Once the data is collected, it is analysed to identify

patterns, trends, and insights. Statistical analysis tools and software are
often used to process and interpret the data.
  Reporting and Recommendations: The findings of the market survey are
typically compiled into a report. This report may include charts, graphs,
and summaries of key findings. Based on the results, recommendations
and actionable insights are provided.

 Decision-Making: The insights gained from the market survey inform

strategic decisions. Businesses may use the data to refine their
marketing strategies, develop new products, adjust pricing, or enter new
markets.

 Continuous Process: Market surveys are not a one-time effort. Markets

evolve, and consumer preferences change over time. Therefore, many
businesses conduct regular market surveys to stay updated and make
informed decisions.

Methods that can be used for conducting a market survey, explained briefly:

 1. Online Surveys: Create digital questionnaires and distribute them via

email, social media, or website links to collect responses from a broad
online audience.

2. Telephone Interviews: Conduct one-on-one interviews with

respondents over the phone to gather detailed information and
opinions.

 3. Face-to-Face Interviews: Interact with respondents in person to ask

questions, observe behaviors, and gather qualitative data.

 4. Focus Groups: Bring together a small group of participants for a

moderated discussion to gain insights into their perceptions and
preferences.

 5. Observation: Observe and record customer behaviors, interactions,

and choices in a natural or controlled setting.

 6. Email Surveys: Send survey links or attachments via email to a

selected group of respondents.

This project has adopted the Questionnaire method while conducting the
survey.
 Executive Summary

"The SleePro" is a ground-breaking aid device designed to enhance sleep

quality and comfort. It utilizes innovative technology and ergonomic design to
provide users with a relaxing and rejuvenating sleeping experience.

Mission Statement

Our mission is to improve the well-being and quality of life of individuals by

revolutionizing the way they sleep. We aim to provide innovative sleep
solutions that promote relaxation, restfulness, and overall health.

Product Description

"The SleePro" is a multifunctional sleep aid device that incorporates the

following features:

 Adjustable Comfort: The device is designed to adapt to individual

sleeping preferences, offering customizable support for the neck, head,
and body.

 Smart Sleep Monitoring: Integrated sensors track sleep patterns, heart

rate, and body temperature to provide users with insights into their
sleep quality.

 Therapeutic Functions: The SleePro offers various therapeutic functions,

including soothing sounds, gentle vibrations, and customizable
temperature control to create a serene sleeping environment.

Target Market

 Individuals seeking to improve sleep quality.

 Shift workers aiming to optimize rest during irregular hours.
 People with sleep disorders or difficulties falling asleep.
 Travelers looking for a portable sleep aid.
Market Analysis

 The global sleep aid market is estimated to be worth billions, with a

growing emphasis on natural and non-invasive solutions.

 Increasing awareness of the importance of sleep on health and well-

being is driving demand for innovative sleep products.

 Strong potential for partnerships with sleep clinics, wellness centres, and
travel companies.

Competitive Advantage

 Unique combination of adjustable comfort, monitoring technology, and

therapeutic features.

 Sleek and portable design for use at home or during travel.

 Focus on user feedback and continuous improvement.

Marketing Strategy

 Online and social media marketing targeting individuals interested in

wellness and sleep.

 Collaborations with influencers and health professionals for

endorsements and reviews.

 Participation in trade shows and wellness expos.

Financial Projections

 Initial investment in research and development, manufacturing, and

marketing.

 Projected revenue growth based on market penetration and product

sales.

 Focus on cost management and profitability.

Design and Innovation

The design of "The SleePro" prioritizes user comfort and adaptability. Its
innovative features, including smart sleep monitoring and therapeutic
functions, set it apart from traditional sleep aids.

Organization Profile

Company Name: SleePro Innovations, Inc.

Company Vision: To be a global leader in innovative sleep solutions, enhancing

the well-being of people worldwide.

Company Values:

 Innovation: We continuously seek creative solutions to improve sleep

quality.
 Quality: We prioritize product excellence and customer satisfaction.
 Health and Wellness: We believe in the importance of restful sleep for a
healthy life.
 Sustainability: We are committed to eco-friendly and ethical business
practices.
Founder and CEO: Gauri Sharma
Location: Mumbai
Team: A team of dedicated professionals with expertise in product
development, engineering, marketing, and customer support.

Contact Information:

 Address: [Address]
 Email: [Email]
 Phone: [Phone Number]
 Website: [Website]

Social Responsibility:

 SleePro Innovations is committed to giving back to the community by

supporting sleep-related charities and initiatives.

SleePro Innovations is poised to revolutionize the sleep aid market with "The
SleePro." Our commitment to innovation, quality, and customer satisfaction
positions us as a leader in the industry. We look forward to improving the sleep
quality of individuals worldwide and contributing to their overall well-being.

Jingle
Sleeping through the night, it's oh so nice, With our device, it's paradise. Close
your eyes, drift away, and say, "Goodnight to sleepless nights," with SleePro
today!

Tagline
Sleepro: Where Dreams Begin.
 MARKET SURVEY ON SLEEPRO

Purpose of the Survey

To collect primary data for the preparation of Class XII entrepreneurship
Market Survey Report, the product being researched is ‘SleePro’. The idea of
providing a tranquil and soothing sleep environment with the help of this
advanced devise which provides amazing features.

General Instructions
1. Filling all personal details is optional
2. All the questions are compulsory.
3. Only one or more alternatives (where specified) to be choosen.
4. Answer by ticking the most appropriate option.

Disclaimer
All information provided will be treated as confidential.

Hello, I am excited to tell you about my new product “The SleePro”. It is an all
in one device which will give you the most delightful sleeping experience. It is
an aid device which will enhance your sleeping pattern and make it more
comfortable and relaxing.

I am conducting this survey in order to collect information and your valuable

feedback about the product. Request you to please fill in the below form. Your
reviews are appreciated. Thank you!.
 Questionnaire
Name: ______________
Occupation: __________
Gender: _____________

Q1. Do you have a sound sleep at night?

a. Yes b. No

Q2. How many hours do you sleep?

a. 8 - 10 hours
b. 6 - 8 hours
c. 4 - 6 hours’
d. Less than 4 hours or more than 10 hours

Q3. What is your sleeping pattern?

a. Fast asleep
b. Unevenly distributed sleep
c. Disturbed sleep

Q4. How important is a sound sleep for you?

a. Very important
b. Not that important
c. Depends on my schedule and availability of time

Q5. How do you feel when you get up in the morning?

a. Calm and composed

b. Irritated
c. Tired
d. Happy and delighted
Q6. Are you using any sleeping aids?

a. Yes b. No

Q7. What problems do you face while sleeping?

a. Overthinking
b. Anxiety
c. Restlessness
d. Sleep walking
e. All of the above

Q8. What do you do to calm yourself before / while sleeping?

a. Listening to music
b. Head Massage
c. Aroma therapy
d. Read a book

Q9. Would you consider using a sleeping aid which helps you curb all the
problems?

a. Yes b. No

Q10. If your above answer is no, would you prefer to use a sleeping aid for a
week as a free trial?

a. Yes b. No

Q11. How much would you be willing to spend on such a device?

a. Rs. 500 - Rs. 1000

b. Rs. 1000 - Rs. 1500
c. Rs. 1500 - Rs. 2000
d. Rs. 2000 +
Thank you for your cooperation and precious time…
Data Analysis and Interpretation

Conclusion

Bibliography

Appendix