Business Plan Assignment 2022

Running Head: BUSINESS PLAN
BUSINESS PLAN
Name of the Student
Name of the University
Author’s Name

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Executive Summary:
Technology and innovation are the two words which always go hand in hand. Technology is ever
evolving and changing therefore the companies associated with technological productions needs
to continuously innovate and experiment to remain relevant in the market. Thus a new
electronics and gadget producing brand Digital Innovation intend to start in its business
operations in the U.K market and has come up with a plan of launching its new series of smart
earphones named Gelau. Thus, this report will specifically highlight on the whole market
analysis which needs to be conducted by the brand which includes the SWOT Analysis followed
by crafting a complete business plan for the brand.

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Table of Contents
Introduction:....................................................................................................................................3
Discussion:.......................................................................................................................................4
Conclusion:....................................................................................................................................10
References:....................................................................................................................................11

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Introduction:
Technology is always evolving and significantly changing. What seems new and trending
today goes out of style and becomes obsolete in just few days (Duffy, & Jonassen, 2013).
Therefore all the companies who are associated with the production and management of
technological equipments or gadgets need to be constantly innovating and experimenting with
their products to remain relevant in this dynamic business environment. Design and Innovation
aims at evolving as one such startup electronics company who are associated with the production
of various electronic gadgets like ipods, electronic trimmers, smart watches, power bank.
Portable Sd card readers, Car USB Chargers and lot more. Thus current the company intends to
launch its own headphone section for ensuring a new music hearing experience for its customers.
Digital Innovation knows and accepts the fact that earphones are no new to the market yet are
very confident that their range of earphones would promise something so excellent that the
customers have never thought about and are very confident to beat the existing brands in the
market. Thus this report will specifically highlight on the complete business plan of Digital
Innovation in launching its new range of earphones name GELAU and also intends to conduct a
compete strategic analysis of the strengths, weakness, opportunities and threats associated with
this new business strategy of this very young company

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Discussion:
Digital Innovation aims at becoming one new but significant name in the technology
market with its headquarters in United Kingdom. The brand mainly chooses to produce exclusive
small and handy gadgets which are very easily portable and travel friendly for the customers.
The main vision of this brand is to offer such exclusive products which are uniquely devised to
suit every consumer needs. The brand believes in extending smart technological solution to its
target market and bringing technologies together in one such unique blend that would provide
ultimate satisfaction and absolute return of their money to each and every buyer
Thus, for any new brand like Digital Innovation who intend to launch earphones in the
market and have named it Gelau there are certain core requirements that needs to be fulfilled for
ascertaining a successful launch of the new product in the market. Thus these crucial steps
necessarily include constructing a complete business plan of the brand. However before creating
the business plan the company needs to ascertain its core strengths, weaknesses, available
opportunities and threats that currently exist in the market.
Strengths:
Digital Innovation intends to bring in a complete revolution in its product designing
strategy for its headphone segment. The company claims that these new range of earphones are
not only meant for the consumers to listen to it but would be so technologically updated that it
will practically listen to its customers. Gelau is meant to be a sensor-enhanced headphone series
which would do much more than just streaming music. The advanced audio technological

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orientation of this new range of earphones will allow it to hear human voices more clearly
cancelling the outside noise (Desai, 2017). Thus these earphones are well integrated with digital
assistants as well as health and fitness detectors to monitor and give users a correct report of
their heart rate, step counts and intensity of their breath. Another key feature of this new range of
earphones is that it is a neck worn wireless headphone series with integrated Amazon’s Alexa
Voice assistant technology (Kepuska & Bohouta, 2018). This artificial intelligence helps the
users control varied other home appliance which can be connected with the headphone like
turning the lights and fans on or adjusting the temperature of the Ac just through verbal
commands of the users. So basically, with this range of earphones Digital Innovation promises to
build a one stop solution and an all in one gadget for its valuable consumers. There is also a
digital display unit attached with these earphones which will allow the users to see who is calling
them and they can receive and disconnect calls with just a swipe on the digital display unit when
the headphone is connected to their mobile phones. Apart from these exclusive technological
supports the earphones would undoubtedly give an extremely high sound quality experience to
its listeners cancelling all ambience noise with extremely high battery life. The company also
guarantees long term sustainability of the earphones which are completely water proof and
delivering the actual value for the customer’s money (Hill & Brierley, 2017). These can be
regarded as the core strengths of this new range of earphones that Digital Innovation intends to
launch (Srednicki, 2017).
Weakness:
However there are certain key problems that the marketers have addressed in regarding
this brand which are identified as the core weakness for the brand and must be addressed in an

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immediate manner. The first problem with Digital Innovation as a brand is its poor branding
techniques. Being a new market entrant, the brand has not provided enough emphasis on its
branding techniques. The advertising strategies are not strong enough for establishing the
brand name. Even the launch of its new range of earphones named Gelau has not been
supported with much required promotional campaigns and advertisements. The next big
problem with Digital Innovation is it has emphasized on growing locally than going global.
While all other big brands are expanding and making a global approach towards their marketing
techniques Digital Innovation has not provided enough emphasis in strengthening its global
marketing needs. This slow penetration rate has affected the growth rate of the company and has
affected its competitiveness over other brands.
Opportunities:
The next component in the SWOT Analysis is the main opportunities that Digital
Innovation needs to grab on to make itself successful in the market. The brand believes in
bundle offering. Therefore it more emphasizes on developing such gadgets which are provide a
good mix of varied technological innovation and emerge as a one stop solution for all products.
Such innovations enable the brand to attract more and more consumers towards it, who believe in
using smart solutions in living their life. Another significant opportunity for the brand is to
emphasize on building cost effective and reasonable line of products. While major electronics
and gadget producing brands dominating the U.K market are into the higher price segment
Digital Innovation can take this as an exclusive opportunity to create a strong market preference
in this segment by offering attractive price strategy to its customers Digital Innovation to
succeed and make it bigger and better in its present market segment need to be quick enough to

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grab theses opportunities and use them in their favor of building the brand image in the business
market.
Threats:
Now coming down to the last component of the SWOT analysis, which are the major
threats that the brand must be very well aware of to survive all these uncertainties (Ayub, et al.
2013). The major electronics and gadget production companies like Apple, IBM, HP, already
have a well established and highly dominant appeal over the market. Therefore it is a very major
challenge for any new entrant to make its place amongst such strong competitors. Therefore
Digital Innovation to survive this scale of competitions needs to strengthen its business
strategies. Moreover it’s not so attractive and strong marketing and promotional strategies is
another major concern and a great threat to the company’s reputation which must be taken care
by the brand to survive in the competition. This SWOT analysis will help Digital Innovation to
understand what exactly it takes a brand which is a new entrant in its own business segment to
survive and make it bigger and better compared to its existing competitors.
Now once the SWOT analysis is completed Digital Innovation can easily move
towards building up its strategic business plan which is associated with the launch of this new
series of headphone to help the brand strategically and easily plan and implement the same in its
operation.
A business plan is basically a strategic road map for the business to follow and proceed
accordingly (Massa & Tucci, 2013). It helps in determining the exact nature of the business
conducted by the firm the total sales and marketing strategies employed by the brand, its current

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financial standing in the business market and how it exactly intends to grow and make it bigger
and better. The first and foremost important step in creating a business plan is to invest
maximum time and effort in analyzing the whole market. Thus a strong research is the only
way by which the company heads can understand what actually the market needs and how it can
be provide in the best possible manner meeting the organization’s needs as well as satisfying the
consumers demand (Fayolle & Liñán, 2014). One the research is completed and the facts are
known and acknowledged it gets way easier for the brand to proceed further. The next step is to
thoroughly understand the very purpose of creating a business plan. That is for Digital
Innovation the business plan would surround around launching of the new product that is the
earphones. As the business plan is meant to guide the marketers towards the whole process of
their marketing function therefore it is very important that the purpose is all clear and
understandable by the whole company professionals. The next step is to create a strong
company profile. It might be through using digital communication like a website or through
print publication like a journal or through audio visual advertising. Moreover Digital Innovation
being a very new entrant in the market it is very much necessary for the brand to emphasize on
these aspects as the strength of the company profile will ultimately determine its significant
market position. A business plan must always include a strategic marketing plan of action. For
instance Digital Innovation with its new series of earphones named Gelau can effectively market
its potentials through varied meaning partnership and collaborations. Partnering for event
sponsorships with other big companies or branding in varied tech fair events or launching will
help the brand gain the right amount of market exposure. The business plan must very well cater
to the needs of the target audience (Lee, et al. 2015). This important because if the business
plan is not consumer oriented the message would not be delivered appropriately to the target

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market and the whole business activity will stand futile. Therefore the brand must understand
which is the most effective vehicle of communication, the appropriate time, the best pricing
strategy the areas where it would be launching and selling its products, who would be used as the
face of the brand and how well will the target market connect to him/her. Each and every aspect
of the pan needs to be thoroughly scrutinized for ensuring that the launch of the new product is
strategically planned and executed.

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Conclusion:
Thus from the above cited discussion it is very well evident that it is a very crucial
concern for any electronics production company to fairly invest in improving and experimenting
with its business plan to remain relevant in the market. Digital Innovation with its product Gelau
must consider the results of the SWOT analysis for building up a fruitful business plan that
would help the brand expand in a much better way and achieve its market goals in a sound
manner.

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References:
Ayub, A., Razzaq, A., Aslam, M. S., & Iftekhar, H. (2013). A conceptual framework on
evaluating SWOT analysis as the mediator in strategic marketing planning through
marketing intelligence. European Journal of Business and Social Sciences, 2(1), 91-98.
Desai, V. R. (2017). U.S. Patent No. 9,736,587. Washington, DC: U.S. Patent and Trademark
Office.
Duffy, T. M., & Jonassen, D. H. (2013). Constructivism and the technology of instruction: A
conversation. Routledge.
Fayolle, A., & Liñán, F. (2014). The future of research on entrepreneurial intentions. Journal of
Business Research, 67(5), 663-666.
Hill, N., & Brierley, J. (2017). How to measure customer satisfaction. Routledge.
Kepuska, V., & Bohouta, G. (2018, January). Next-generation of virtual personal assistants
(microsoft cortana, apple siri, amazon alexa and google home). In 2018 IEEE 8th Annual
Computing and Communication Workshop and Conference (CCWC) (pp. 99-103). IEEE.
Lee, Y. K., Kim, S. H., Seo, M. K., & Hight, S. K. (2015). Market orientation and business
performance: Evidence from franchising industry. International Journal of Hospitality
Management, 44, 28-37.

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Massa, L., & Tucci, C. L. (2013). Business model innovation. The Oxford handbook of
innovation management, 20(18), 420-441.
Srednicki, N. (2017). Exploring a Change in Meditation Practice Using Noise-Canceling
Headphones (Doctoral dissertation, Georgetown University).