NRN & Co Business Plan: Technical Analysis of Smart Pen Market

This report provides a technical description and business plan for a smart pen, focusing on NRN & Co. It includes an analysis of various smart pen types, their components, and the competitive landscape, including key players like Alibaba.com and Nanchang Valin Pen Industry Co. The report examines the Australian legal framework, particularly the Corporations Act 2001 and the Competition and Consumer Act 2010, and identifies China as a key export market. It outlines the business's goals, value proposition, value chain, and financial fit within the market, including its compelling value proposition, continuity of direction, risk management, and quality management strategies. The report concludes with a positive investment view, emphasizing the business's alignment with current trends and the promising nature of the chosen export market, supported by references to various sources.

CONTEMPORARY
TELECOMMUNICATIONS
NRN & Co

TECHNICAL DESCRIPTION OF
PRODUCT/SERVICE
 There are many different types of smart pens and some of
these include Scanning pens, Handwriting pens and Paper-
tracking pens
 Parts of the smartpen
 Pen cap (1)
Ink fill (2)
 Docking connector (3)
 Pen optics (4)
 Refill holder (5)
 Indicator lights (6)
 Reset button (7)
 Rechargeable battery (8)
 Vibrating motor (9)
 Indicator lights on pen top (10)

PARTS OF SMART PEN

PRODUCT/SERVICE ANALYSIS OF THE
COMPETITION AT THE TECHNICAL LEVEL
 Competition at market level
 The digital or smart pen market remains one of the
competitive market owing to the little number of players in
the regional market.
 Competition at the technical level
 This has resulted in the low venture in parts of the world due
to little information is known about the smartpen
 This makes the smartpen competitive in the market since the pen can be
used by a number of systems to transmit information. Therefore, can compete
with other digital tools that are used to scan objects in the digital platform.

AUSTRALIA MARKET
 Legal framework include laws and
regulations
 The Corporations Act 2001 regulates the
behaviors of corporation such as NRN & Co
that operate and sell digital products.
 Competition and Consumer Act 2010 (Cth)
determines the boundaries of competitions
within the market.

EXPORT COUNTRY
 China remains the largest market for the
Australian market and the largest investment
country in Australia.
 China imported machines of more than
$2.06T in 2016.
 This implies that the country digital pen can
be exported to China as a prospective market
for Australia products.
 Computers form more than 18% of Australian
exports and this indicates that digital pen is
an example of computer products that can
be sold to external market.

COMPETITORS
 Competitors in China that poses threat to marketing of
digital pen in the country.
 Major competitors are
 Alibaba.com
 Nanchang Valin Pen Industry Co., Ltd
 Partnership include
 Nanchang Valin Pen Industry Co., Ltd being a manufacturer
of smart pens
 Government of China will license buisness
 Advertisement will be through:
 Digital marketing include marketing that will employ digital
media to advertise products of NRN & Co within China.
 Broadcasting advertisement involves advertising NRN & Co
products in television, radio and print media

BUSINESS PLAN
 The goal of the business
 The goal of the business is to sell high
volume digital pen and accessories to
customer globally.
 Value proportion
 The business will treasure its value
proportion statement of ‘Writing at the top
of world most valuable educational
state of the art pen’.

VALUE CHAIN
 The value chain of the smartpen can be divided
into digital value chain and traditional value chain.
 Digital value chain
 The digital supply chain comprises of various
digital players that form a network of institutions
that take part in manufacture to final consumer
 Michael Porter
 Traditional value chain consist of various player
such as manufacturers, outbound logistics,
inbound logistics, marketing staffs and consumers
 Trade-off
 The tradeoff identified in the NRN & Co includes
the balancing between cost and quality.

FIT
 Factors that make the business fit in the market and
some include financial fit, environmental and culture fit,
value proportion and high purpose of the business.
 Financial it
 NRN & Co as a digital company offers affordable prices
that make the company financially fit in both business
and market.
 Fit in with the culture and environment
 NRN & Co fit into the current culture and environment
since many businesses are currently moving to the digital
platform.
 Compelling value proposition
 The NRN & Co has a compelling values proportion that
aims to place customers at the highest point in the
digital world with the educational tool.

CONTINUITY OF DIRECTION
 Business management
 the business management is set that will help
the company to continue selling smartpens in
the market.
 Risk management
 NRN & Co has a well-defined risk management
strategy that aims to provide the risk
mitigation plan to reduce business losses.
 Quality management
 Quality management is another strategy that
ensures there is continuity of direction within
the digital market.

VIEW ON INVESTING IN SMART
PEN BUSINESS
 In my view, I would invest in the business
since the business is most likely to realize its
objectives.
 The strategy selected by the business
especially in the transforming lives of people
is good especially with the sustainability
value as this is the main theme in the current
business environment.
 the chosen country of export is also
promising as China currently remains the
main importer of products from Australia