Safe Listening Music Devices: A Business Idea

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MGMT20132
Student name
5/6/2019

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Contents
Introduction to Business idea...........................................................................................................2
Customer requirements....................................................................................................................3
Market..............................................................................................................................................3
Problem identification.....................................................................................................................3
Business model................................................................................................................................4
Key partners.................................................................................................................................4
Key activities...............................................................................................................................5
Value propositions.......................................................................................................................5
Customer relationships................................................................................................................5
Customer segments......................................................................................................................6
Key resources...............................................................................................................................6
Channels......................................................................................................................................6
Cost structure...............................................................................................................................6
Revenue streams..........................................................................................................................6
Critical success factors of the idea...................................................................................................7
Critical risk and assumptions...........................................................................................................7
Feasibility of the idea.......................................................................................................................8
Conclusion.......................................................................................................................................9
References......................................................................................................................................10
Appendix........................................................................................................................................12
Appendix 1 : Business canvas model........................................................................................12
Appendix 2.................................................................................................................................13
Appendix 3.............................................................................................................................13

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Introduction to Business idea
Health and safety is the major concern for every individual, which lead to an innovative business
idea in technological industry. Business environment is changing on a rapid speed, and change in
social trends has provided opportunity for the companies or startups to introduce to new products
using better and latest technology. The new product considered to be discussing for this, is “safe
listening music devices.” The business idea is to provide customers with latest design of
earphones and headphones which would not harm humans and are safe for children as well
(Balmer & Abratt, 2016).

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Customer requirements
Customers are looking forward for innovative products and consider features like convenience
and health and safety while purchasing any electronic device. With change in social trends,
customers have been listening music for longer hours and for various purposes. For example,
travellers prefer to listen music while traveling to enjoy. Use of social media has been increased,
where people enjoy watching videos, for which they use earphones/headphone. Moreover, with
current scenario, people prefers to use headphones or earphones for calling purpose as well,
which make the use of these devices to greater use. This need of the customers can be
accomplish with use of new technology and innovative design that will not harm their health due
to such extensive use of music devices (Ang & Rusli, 2018).
Market
Market is the place which involves trading of goods, for which the new product would consider
two modes of market that is physical market and online market. The companies can target
customer through official outlets, or retailing store Wal-Mart, Woolworths, Aldi’s in Australia to
reach out to the customer for these new safe hearing devices. Moreover, the company can target
the customer through online market like official website or retailing ecommerce business like
Amazon, EBay or iconic and various more platforms (Fan & Lau, 2015).
Problem identification
The problem identification is increase in hearing problems due to excessive use of electronic
music earning devices. From appendix 2 it can be said that problem identified that the excessive