Smart Shower Business Plan: Comprehensive Analysis for Market Entry

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Added on  2022/09/09

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This report presents a comprehensive business plan for a smart shower, designed for the youth demographic and emphasizing water conservation and technological integration. The plan includes a detailed market analysis, identifying the target market as individuals aged 20-69 with specific income levels and lifestyles, and the product's value proposition focuses on environmental sustainability and cost savings. The business plan outlines key features such as water and temperature control, along with connectivity options, and provides an overview of the competitive landscape. The revenue model is based on product sales and related services, supported by a list of relevant references. This analysis aims to provide a complete overview of the business strategy and its potential for success.
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TECHNOLOGY
ENTERPRISE
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PRODUCT DESCRIPTION
Smart shower is designed according to the demand of
the youth era enabled with Wi-Fi, which can allow to
save water, track, and maintain the optimal
temperature.
Aqua has flow and temperature control, which have
embedded with alarm, message, Bluetooth
connectivity, and wireless connection.
Diameter of shower: 7.2892 inches
Dimensions of Box: 17½ inches x 7.2 inches x 9.4 inches
Weight: 0¾lbs
Introduction to
product
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MARKET ANALYSIS
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SEGMENTATION AND TARGET
MARKET
The segmentation is based on demographics including 20 to
69 years. The individual will include single, children, and
married with certain income level of 28000 dollars each year.
Social class will include administration skills, professional,
managerial and semi-skilled workers.
Lifestyle of the target market includes successful, explorer,
and mainstreamer.
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VALUE PROPOSITION
Aqua will help to save the environment finally creating the
customer consciously and accountable.
Training manuals provide to minimise and control plumber
costs.
Aqua can save water until 0.5gpm in eight minutes of the
shower when comparing it to others.
It can avail appropriate water temperature for body when
showing with.
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BUSINESS GOALS
In availing customers with the smart showers
In increasing market share
Maintaining high quality of product
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PARTNERS
Hardware services
Sales forces at global level
Board of services
Installation services
International advisory panel
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KEY RESOURCES
Tangible assets
Research designs
Tangible assets
Technology
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COMPETITORS
Influencing competitors will include Moen U Shower, Dream
spa, water Hawk, Kohler K-9245, and H2o.
Competition based will aim to look after forward to become
price leader and getting efficient maximum features.
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REVENUE MODEL
Organisation is projected so that it can make profits as being generated by supplying, proceeds
from the sale of Air conditioner, and heating.
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REFERENCES
Seidenstricker, S., Rauch, E., & Battistella, C. 2017. Business model engineering for distributed
manufacturing systems. Procedia CIRP, 62, 135-140.
Yeon, Y., Lee, B., Kim, E., Park, B., & You, H. 2015. Establishment and Application of a Comprehensive
Business Model Framework: Focusing on Healthcare Business Models. Journal of Korean Institute of
Industrial Engineers, 41(6), 530-539.
Kogan, L., Papanikolaou, D., Seru, A. and Stoffman, N., 2017. Technological innovation, resource allocation,
and growth. The Quarterly Journal of Economics, 132(2), pp.665-712.
Aydalot, P., 2018. Technological trajectories and regional innovation in Europe. In High Technology Industry
and Innovative Environments (pp. 22-47). Routledge.
Maslach, D., 2016. Change and persistence with failed technological innovation. Strategic Management
Journal, 37(4), pp.714-723.
Van de Ven, A., Adner, R., Barley, S., Dougherty, D., Fountain, J., Hargadon, A., Kamlet, M., Karlin, B. and
Schilling, M.A., 2017. Increasing benefits and reducing costs to society of technological
innovation. Behavioral Science and Policy Journal, 3(1), pp.94-103.
Geldes, C., Felzensztein, C. and Palacios-Fenech, J., 2017. Technological and non-technological innovations,
performance and propensity to innovate across industries: The case of an emerging economy. Industrial
Marketing Management, 61, pp.55-66.
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