Business & Project Management: New Product Introduction Report

This report details a business plan for introducing a new sensor product designed to detect air and noise pollution from vehicles. It begins with an introduction and outlines key steps for market entry, including a business canvas that defines key partners, activities, value propositions, customer relationships, segments, resources, channels, cost structures, and revenue streams. The report then presents a comprehensive business plan, incorporating segmentation, targeting, and positioning strategies, along with product and pricing details, place and promotion strategies. A PESTLE analysis examines political, economic, social, technological, legal, and environmental factors. A break-even analysis determines the point at which the product becomes profitable, alongside a project plan outlining tasks, durations, and dependencies. The report concludes that the new sensor product is a profitable venture, emphasizing the importance of market research and business model creation. References to relevant academic articles are included.

BUSINESS & PROJECT
MANAGEMENT
PRINCIPLES

TABLE OF CONTENT
 INTRODUCTION
 BUSINESS CANVAS
 BUSINESS PLAN
 PESTLE ANALYSIS
 PROJECT PLANNING
 CONCLUSION
 REFERENCES

INTRODUCTION
 This presentation is about the introduction of the new product
in the market which is being introduced by a start up.
 It states about the key steps which are required to be
undertaken.
 It involves a complete business plan, external environment
analysis, break even analysis and project planning.

BUSINESS CANVAS
Key Partners
 Stakeholders
 Suppliers
 Technical experts
 Software developer
Key Activities
 Designing
 Production
 Delivering and logistics
 Payment platform
 Repair and maintenance
 Marketing
Value Propositions
 Information in regard to
pollution
 Minimizing the negative
impact on business
Customer Relationships
 FAQ section
 24/7 customer care support
 social networking sites
Customer Segments
 Age group 25-40 years
 Urban areas
Key Resources
 Production space
 Distribution channels
 Patent of the system
 Investors
 Instructors
 Technical and software team
 Marketing team
Channels
 physical stores
 Online site
Cost Structure
 Technological and running cost
 Salaries to staff
 Marketing expenses
Revenue Streams
 Sale of the product

BUSINESS PLAN


Objective
 To market the new product that is the sensor which will provide the information about the
air and noise pollution which the vehicle can emit.
Element Description
Segmentation Under this the major segment selected will be based on
demographic and geographic segment.
Targeting In this the major target of the company will people belonging to
age group of 25- 40 and the people belonging to urban areas.
Positioning For the positioning of the product the major focus will be laid on
quality of the product so that consumer remember it for a longer
period of time.

CONTINUED
Element Description
Product Under the product, the major product which the company is bringing is
the sensor which will automatically detect the level of noise and air
pollution which is going to be done by the vehicle.
Price The pricing strategy of the company used is the competitive pricing
strategy. This is majorly because of the reason that when the company
will analyse the prices of competitors then this will be beneficial for
the company in charging the price of the product.
Place Under this, the place involves the physical stores and the online
options as well for the distributions of the product and services to the
consumers.
Promotion The promotional activity used for the marketing of the sensor is the
use of social media marketing and the sales promotion.

Continued….


Measurement and control
Under this the measuring of the performance and the
control of the different types of activities is being undertaken
for the project to be completed. This will involve the use of the
following measure to control the project-
Benchmarking
KPI

PESTLE Analysis
Business operates under highly uncertain market environment that requires the business to be
prepared or these external forces in advance. Company is required to analyse the business
environment properly. Pestle analysis will help to assess the external factors affecting the business
environment adequately.

Continued….
Elements Description
Political Policies relating to tax rate
Economic Raising interest rate changes
Social Following current trend
Technological Use of latest technology
Legal Use of various rules
Environment CSR

Break Even Analysis
Particulars
Production 100 units P.u. Amount
Selling price 650 65000
Variable costs
Materials 250 25000
Labour 120 12000
Overheads 80 8000
Contribution 200 20000
Fixed costs
Rent 8500
Managerial costs 1500
Utilities 2600
Total Fixed cost 12600
Profits 7400

CONTINUED
Break even analysis and desired profit units
Particulars Formula Figures
Selling price p.u. 650
Variable cost p.u. 450
Contribution p.u. Selling price p.u. - variable cost p.u. 200
Fixed cost 12600
BEP (in units) Fixed cost / contribution p.u. 63
BEP (in value) BEP (in units) * selling price p.u. 40950
Units need to sell for attaining desired profit margin
Particulars Formula Figures
Fixed costs 12600
Desired profit 10000
Contribution p.u. 200
Number of units required to sell
Fixed cost + desired profit margin / contribution
per unit 113

Task Mode Task Name Duration Start Finish Predecessors Resource Names
Auto Scheduled Component analysis 34 days Thu 1/7/21 Tue 2/23/21
Auto Scheduled Part analysis 15 days Thu 1/7/21 Wed 1/27/21
Auto Scheduled Cost analysis 5 days Thu 1/28/21 Wed 2/3/21 2 Cost sheet
Auto Scheduled Order part 3 days Thu 2/4/21 Mon 2/8/21 3 Order sheet
Auto Scheduled Receive part 10 days Tue 2/9/21 Mon 2/22/21 4 Receivable sheet
Auto Scheduled Analysis approval 1 day Tue 2/23/21 Tue 2/23/21 5 Person for approval
Auto Scheduled Chassis manufacturing 72 days Wed 2/24/21 Thu 6/3/21
Auto Scheduled Frame production 33 days Wed 2/24/21 Fri 4/9/21 6 Raw material
Auto Scheduled Engine assembly 15 days Mon 4/12/21 Fri 4/30/21 8 Place for assembly
Auto Scheduled Primary parts assembly 7 days Mon 5/3/21 Tue 5/11/21 9 Parts
Auto Scheduled Components welding 10 days Wed 5/12/21 Tue 5/25/21 10 Welding machine
Auto Scheduled Secondary part assembly 7 days Wed 5/26/21 Thu 6/3/21 11 Place for assembly
Auto Scheduled Paintings 46 days Fri 6/4/21 Fri 8/6/21
Auto Scheduled White body inspection 10 days Fri 6/4/21 Thu 6/17/21 12 Person for inspection
Auto Scheduled E- coat 17 days Fri 6/18/21 Mon 7/12/21 14 Person for doing coat
Auto Scheduled Robot spray painting 12 days Tue 7/13/21 Wed 7/28/21 15 Spray paints
Auto Scheduled Oven baking 5 days Thu 7/29/21 Wed 8/4/21 16 Oven
Auto Scheduled Final inspection 2 days Thu 8/5/21 Fri 8/6/21 17 Person for inspection
Auto Scheduled Interior assembly 45 days Mon 8/9/21 Fri 10/8/21
Auto Scheduled Assembling the parts of automobile 20 days Mon 8/9/21 Fri 9/3/21 18 Parts
Auto Scheduled Having alternate to the parts 25 days Mon 9/6/21 Fri 10/8/21 20 Alternate option
Auto Scheduled Quality control 15 days Mon 10/11/21 Fri 10/29/21
Auto Scheduled Recording of all transaction 5 days Mon 10/11/21 Fri 10/15/21 21 Books for recording
Auto Scheduled Setting some standards 5 days Mon 10/18/21 Fri 10/22/21 23 Prior records for setting standard
Auto Scheduled Comparing actual with standards 5 days Mon 10/25/21 Fri 10/29/21 24 Person for comparing actual and standard

CONCLUSION
 It can be inferred that for the purpose of introducing new product in the
market it is essential to properly carry out the market research involving
external analysis, porter’s five forces model, break even analysis.
 The analysis provides that it is profitable to invest in the new sensor
product.
 Also, creation of business model canvas helps in determining the key
components to be taken into account while creating business plan.

REFERENCES
 Chodakowska, A., 2018. The mobility revolution in the automobile industry.
Electric cars and battery management.
 Kusumaningrum, I. and Hidayat, H., 2016. Learning Outcomes in Vocational
Education: A Business Plan Development by Production-Based Learning Model
Approach. International Journal of Environmental and Science Education,
11(18), pp.11917-11930.
 Manh Cuong, N. and Hung, P.V., 2020. Sea navigation-based Thai Canal
implication: an analysis of its effect on the Vietnamese maritime
industry. Australian Journal of Maritime & Ocean Affairs. pp.1-12.