University Report: BUS203 Entrepreneurship - Laser Keyboard Analysis

This report presents an opportunity analysis and development plan for a laser keyboard, a product designed to enhance business operations by providing a portable and versatile typing solution. The report begins with an introduction highlighting the innovative nature of the laser keyboard and its potential to improve upon existing hardware limitations. It then delves into problem and needs analysis, identifying the target customer as business professionals seeking flexibility and efficiency. The report proceeds to analyze customer needs, market dynamics, and internal capabilities, including the strengths and expertise of the development team. A thorough market analysis considers competitive pressures and the product's life cycle stage. The report also addresses commercial viability, emphasizing the product's unique selling points, scalability, and return on investment. The overall aim is to demonstrate the laser keyboard's potential as a successful venture, addressing the needs of modern entrepreneurs.

Running head: MANAGEMENT
Management
Name of Student
Name of University
Author Note

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Table of Contents
Introduction................................................................................................................................2
Problem and needs analysis.......................................................................................................2
Customer analysis......................................................................................................................4
Market analysis..........................................................................................................................5
Internal capabilities....................................................................................................................5
Commercial viability..................................................................................................................6
Reference....................................................................................................................................8

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Introduction
The focus of the assignment is to develop a product that requires recent innovation.
As stated by Blut et al. (2015) innovation is required for the development of an organisation
and the product that it possesses. In this case the focus is on the development of a laser
keyboard. The utilisation of the laser keyboard can be made at any time as it provides an
opportunity to convert any surface into a digital and holographic keyboard. The reason
behind this particular product is chose is because software in a computer have been involved
in continuous innovation with the systems been upgraded from one generation to another.
However, its hardware such as the keyboards does not get enough recognition and
improvement opportunities.
As pointed out by Agnihotri et al. (2016) keyboards are important for maintaining
operations in a computer as most of the works like typing any mail or important information
are done by the use of the keyboards. This innovative technique can help business men as
they can use the product at any time and at any place. The innovative idea was brought to
light by the application of brainstorming method. According to Hill and Brierley (2017),
brainstorming method helps in focusing new ideas by focusing on the required parameters
required for success. In this case, the required parameter for the development of a successful
laser keyboard involves enhancing the opportunities of business men to type important emails
even without the presence of a proper key board in the place.
Problem and needs analysis
The problem that is being tried to solve in the assignment includes enhancing the
business opportunities of entrepreneurs so that they can continue to work effectively even

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outside the office. Therefore, the problem can be mitigated by the development of a laser
keyboard.
The customers in this case are the businessmen that feel hampered in case of any
urgency at work. The laser keyboard can help convert any surface into a keyboard and assist
in sending any business related to information from any place. As observed by Hwang and
Suh (2018) the characteristic of the laser key board is the fact that it can be connected with
devices such mobile phones or IPad with the help of Bluetooth. Therefore, this innovative
tactic of converting plane surfaces into a keyboard which is easily portable can be welcomed
by the customers.
The problem affects the business men that can apply the innovative technique for the
development of business. This is mainly because the business men can feel flexible based on
working at office or away from it. It affects the business men as important documents,
information or emails can be sent instantly without having to reach a place that offers the use
of a computer. However, one of the costs involved with the application of device need to be
kept in mind. As pointed out by Kumar (2016) the costs of such devices can be high. Despite
this, the cost problem can be solved by making the product as a mobile application that
requires to be downloaded.
The market in which the product is launched can pay for the solution. This is because
the mobility with which the product can be carried around is unique and can help in its
development in the market provided it is promoted at a cheap cost. Therefore, the need of the
market can be categorised into emerging need. According to Han and Hyun (2015), emerging
needs can be considered a type of need that is on the verge of gaining popularity among the
customers. The laser keyboard can be considered as emerging as the need of the product can
be spread quickly after its initial launch.

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Customer analysis
The need of the laser keyboard can be considered as emerging in the business and
customers may be willing to own a portable device that provides them with an opportunity to
use it at any time. As stated by Sorescu and Sorescu (2016) customers usually pay a heavy
amount for gaining an innovative product. In this case, a similar scenario can be taken into
account for the development of the product in the market. In this regard, a market value of
holographs, keyboards and computers can be taken into account for the development of a
price of the products.
The perceived benefits of the laser keyboard are that it can be used at any time. It can
be connected easily using Bluetooth and can help in mailing or typing about important
information that can help in business men to continue with the enhancement opportunities in
the business. The risks that are involved with the laser keyboard are that it may be perceived
as expensive and the product may require to be fully charged for use. Therefore, a portable
charger that is suitable for the laser keyboard need to be developed so that businessmen can
use the product efficiently.
Along with the benefits and risks, the appeal characteristics also need to be taken into
consideration. As stated by Lovelock and Patterson (2015) the characteristic and presentation
of a product determine the purchase intention of customers. In the case of the laser keyboard,
the characteristics that may entertain the customers may include the frequency of its use and
the weight that they need to carry while using the device. Therefore, the buying motive along
with the tastes and preferences of the customers can result in providing the product its proper
functioning and worth.

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Market analysis
One of the challenges that laser keyboard may face involves that of the competitors.
As an emerging business trying to promote the product, the finances and the popularity
required for the development of the product may face competition from existing rivals. As
stated by Card, Kluve and Weber (2017) rival companies can act as a negative impact for the
development of a product especially while it is trying to meet the emerging needs of the
customers. Hence, rivals such as Samsung or Apple can provide tough competition in the
development of the laser keyboard and selling it in the market.
Hence, the brand name of the competitors needs to be taken into account in order to
maintain a competitive advantage in the market. Along with this, it is necessary to identify
the product life cycle associated with the development of the product. As stated by Kassem
and Succar (2017) the product life cycle determines the value of a product and the fluctuation
it has in the market. In the case of the laser keyboard, the product life cycle can be considered
in the growth stage as the laser keyboard is in an emerging level in the business market.
The market size of the laser keyboard at the present condition is low as it is still in the
growth and emerging state. Another reason for the low market size is the fact that the product
is available in limited stores and considerations about making it as a mobile application still
needs to be considered. However, as stated by Chiu and Hofer (2015) the potential of
innovative technologies is always high in a market. Similarly, the laser keyboard also
possesses high potential to reach the customers and ensure that it addresses the demands of
the customers.
Internal capabilities
The internal capabilities that need to be taken into consideration in this case is that of
the strength possessed and the experience that may help in the development of the laser

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keyboard. It is necessary to understand the experience possessed by the developers in terms
of working with technology and promoting it in the market. The brainstorming idea used for
the development of the laser keyboard need to be based on the talents possessed by the
developers in trying to manufacture the laser keyboard for its specified purpose. Therefore,
the talents that can be offered for the development of the laser keyboard is that of technical
expertise and the expertise based on designing and marketing.
Along with this, another consideration that needs to be made is the fact that such
development need to be done in groups. As pointed out by Bamiatzi et al. (2016) the
development of technical competence can help in the development of a technical product so
that the laser keyboard can contribute to the development of the market. The winning team
need to be made by taking into consideration every department so that every aspect
associated with the development of the laser keyboard can be covered. For example, the
technical expertise is required for the development of devices associated with the keyboard.
At the same time the marketing of the laser keyboard need to be done so that it can reach the
customers in a timely manner and gain proper response.
Commercial viability
The unique selling point or value proposition of the laser keyboard is the fact that it
can be used in any place. The mobility of the product can be taken into account for
developing and promoting it in a manner that can peak the interests of the customers.
Therefore, it can be said that the value proposition of the laser keyboard is the flexibility of
the product and the manner in which it can help in the development of computers all across
the world. Along with this, business men can gain the required exposure for performing
urgent tasks.

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The success of the product can be scalable as the responses provided by the customers
can account for the development of the laser keyboard. The promotion of the laser keyboard
using retail organisations can provide for an analysis of the factors that help it to gain
success. Therefore it can be said that scaling the success of the product can be made based on
the responses provided by the customers (Laudon and Traver 2016). Hence, the development
of the laser keyboard in the market can also be accounted for the success of the company.
The return on investment of the product can help in identifying the gain or loss that is
relative to the amount of money invested for the development (Jones, Nichols and Pappas
2017). In the case of the laser keyboard, the development of nano-technology for the
installation of chips and Bluetooth reading device can cost more. Therefore, the cash inflow
needs to be totally based on the success of the product and the manner in which profit can be
gained by the responses of the customers. Along with this, the relative return required for the
development of the product can be taken into consideration based on the success.

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Reference
Agnihotri, R., Dingus, R., Hu, M.Y. and Krush, M.T., 2016. Social media: Influencing
customer satisfaction in B2B sales. Industrial Marketing Management, 53, pp.172-180.
Bamiatzi, V., Bozos, K., Cavusgil, S.T. and Hult, G.T.M., 2016. Revisiting the firm, industry,
and country effects on profitability under recessionary and expansion periods: A multilevel
analysis. Strategic management journal, 37(7), pp.1448-1471.
Blut, M., Frennea, C.M., Mittal, V. and Mothersbaugh, D.L., 2015. How procedural, financial
and relational switching costs affect customer satisfaction, repurchase intentions, and
repurchase behavior: A meta-analysis. International Journal of Research in Marketing, 32(2),
pp.226-229.
Card, D., Kluve, J. and Weber, A., 2017. What works? A meta analysis of recent active labor
market program evaluations. Journal of the European Economic Association, 16(3), pp.894-
931.
Chiu, Y.T.H. and Hofer, K.M., 2015. Service innovation and usage intention: a cross-market
analysis. Journal of Service Management, 26(3), pp.516-538.
Han, H. and Hyun, S.S., 2015. Customer retention in the medical tourism industry: Impact of
quality, satisfaction, trust, and price reasonableness. Tourism Management, 46, pp.20-29.
Hill, N. and Brierley, J., 2017. How to measure customer satisfaction. Routledge.
Hwang, S. and Suh, E.K., 2018. An Empirical Study on Nonlinear Relationship between
Product Modularity and Customer Satisfaction. Journal of Industrial Distribution & Business
Vol, 9(2), pp.47-55.

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Jones, F.N., Nichols, M.E. and Pappas, S.P., 2017. Organic coatings: science and
technology. John Wiley & Sons.
Kassem, M. and Succar, B., 2017. Macro BIM adoption: Comparative market
analysis. Automation in Construction, 81, pp.286-299.
Kumar, V., 2016. Introduction: Is customer satisfaction (ir) relevant as a metric?. Journal of
Marketing, 80(5), pp.108-109.
Laudon, K.C. and Traver, C.G., 2016. E-commerce: business, technology, society.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Sorescu, A. and Sorescu, S.M., 2016. Customer satisfaction and long-term stock
returns. Journal of Marketing, 80(5), pp.110-115.