MGMT20143 Think Big Project: Business Plan for Tyre Monitoring Device

This project presents a business plan for a device designed to automatically monitor and regulate tyre pressure and temperature, addressing the problem of accidents caused by tyre issues. The device, fitted to the tyre rim, measures pressure and temperature, automatically adjusting air levels and notifying the driver of any problems, including punctures. The plan assesses the business's feasibility using a business model canvas, identifying key partners, activities, value propositions, customer relationships, and revenue streams. Critical success factors include the uniqueness of the product, high quality, and effective marketing. The project concludes that the device is feasible, with a prototype already developed and positive initial survey results, promising a safer driving experience and reduced road accidents. Desklib provides access to similar solved assignments and past papers to aid students in their studies.

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Executive Summary
The paper deals with a new business idea that is based on a device that is aimed at solving the
problem of over heating and air loss. It is seen that the drivers and owners of the cars are
often not attentive about the tyre condition including the inflation of the tyre and the air
pressure inside it. It is important to keep a close vigilance on the temperature of the tyre as
well. Therefore this device will be effective in solving the said problem. The business
possibility is measured by business canvas model and the feasibility and the critical success
factors are judged as well.

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Table of Contents
Introduction................................................................................................................................3
Market Problem..........................................................................................................................3
The Business Idea......................................................................................................................3
Benefits of the generated idea....................................................................................................4
Business Model..........................................................................................................................4
Critical Success Factors.............................................................................................................5
Feasibility of idea.......................................................................................................................6
Conclusion..................................................................................................................................6
Reference:..................................................................................................................................7
Appendix....................................................................................................................................8

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Introduction
One of the major problems of the people who drive for a long distance is the tyre
pressure and the health of the tyre. Most of the time people forget to keep a close vigilance on
the tyre health and they do not care enough about the condition of the tyre which results in
various problems on the way such as, bursting of the tyre or tyre pressure reduced due to loss
of air inside the tyres (Penumaka et al., 2014). Therefore it was very necessary for the drivers
and car owners, especially those who drive for a long distance, to get a device that will help
them to keep a track on the situation of the tyre and know what is necessary to be done at the
right time.
Market Problem
There are many accidents that happen every year due to the sudden flattening of tyre
or because of incorrect pressure within the tyres. These accidents are often seen to be fatal
and taking lives (Jones, 2016). There are various regulations that has been explained by the
car manufacturers to prevent any accident which is caused by the tyre problems explained
above. Some of these are, everyday checking the pressure of the air before starting to drive,
taking breaks while driving for too long distance, to keep the temperature of the tyre under
check. However in most of the cases such regulations are not followed by the car owners.
Often the drivers or car owners forget to check their air pressure inside the tyres, or they do
not take enough breaks which cause the tyres to burst. Number of accidents are caused
because of such carelessness.
The Business Idea
The solution to the above mentioned problem will be given by a very unique device. It
will be a device which measures pressure of tyre and refill or remove when it is required, and

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it measures the temperature of the tier and keep notifying the driver so that he/she can take
necessary action (Kubba & Jiang, 2014).
The device will be in the shape of plate which can be fit on the rim of the tyre. There
will be air compressor tank to store air (Hoever, 2012). The capacity of the tank will be equal
to total pressure of all tier of the car. For example, if the tyre pressure for one tyre is 32 psi
and there are 4 tires in car then the capacity of tank will be 128.
If device will measure temperature or pressure of the tyre less or more than specific
level, it will start its operation and will notify the driver. If it will measure pressure more than
specific level, it will remove the air from the tyre till specified level. And if the pressure is
low then it will fill the air in tyre. And if it finds that the pressure is decreasing continuously
then it means there is puncture in tyre and that devices will refill the air leakage liquid in tyre
to fix the puncture along with the air.
Benefits of the generated idea
The main benefit if this idea is it will decrease the ratio of the road accident which
occurs because of the break down in tyre. And also, other benefit of this idea is that the driver
will not have to stop the vehicle to fix the problems.
This idea will be producing benefits from a number of perspectives, from the
consumer’s point of view, from the business owner’s point of view and from the social point
of view. The consumers will be benefitted by safer drives, and lesser worries about tyres. The
business and the owner will be benefitted by the revenue generated. The social benefit will be
employment generation, tax collection of the government and lesser accident ratio.
Business Model

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The business model canvas will be used to analyze the legitimacy and effectiveness of
the business and how it will be taken ahead to a successful growing phase (See Appendix 1)
(Muhtaroglu et al., 2013). The Key Partners who will take the business forward are the
employees, subsidiaries, advertisers, suppliers of peripheral parts. Key activities of the
business are manufacturing of the devices, sales and direct purchasing. The business will
create value by unique product, very critical for safe drive and wide range of promotions and
discounts. The business will establish consumer relationship by helpline, users’ community,
price based, discounts and offers (Joyce & Paquin, 2016). The key resources of the business
will be skilled employees, presence, brand and know-how. The various channels through
which the company will promote and sell its products are social media, supermarkets,
websites and retail. The target consumers will be the car drivers and owners and the existing
car companies. The various areas where the company will invest on its products are offices,
advertising and marketing, salaries, rent, maintenance, licenses, taxes, cost of goods, logistics
expenses. On the other hand the company will earn revenue through retail sales of its
products.
Critical Success Factors
The business will be successful because of various reasons. First of the business idea
is very unique. Therefore the competition presently is zero. In future some companies may
come up with similar ideas but till then the company will be enjoying monopoly in the
market. The offered products will be of high quality and durable. The security factor of the
cars will go up by several notches. The marketing campaign and the advertisements will be
strong.

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Feasibility of idea
The technology is already discussed with the engineers who will be manufacturing the
products in the assembly line. They have already come up with a prototype. A small survey is
already done and the people are extremely interested about the idea. If proper investment
starts pouring in then it will be a few months of time when the devices will start to leave for
the retail car accessories stores. The idea is feasible and practical.
Conclusion
To conclude it must be noted that any endeavour towards establishing a safer drive is
really important and praiseworthy. This device is mainly aimed at reducing fatality and
injuries because of road accidents resulting from unhealthy tyres. The device will change the
way people drive and the drivers can drive for long hours without worrying for the tyres now.

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Reference:
Hoever, C. (2012). The influence of modelling parameters on the simulation of car tyre
rolling losses and rolling noise.
Jones, I. S. (2016). The effect of vehicle characteristics on road accidents. Elsevier.
Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design
more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.
Kubba, A. E., & Jiang, K. (2014). A comprehensive study on technologies of tyre monitoring
systems and possible energy solutions. Sensors, 14(6), 10306-10345.
Muhtaroglu, F. C. P., Demir, S., Obali, M., & Girgin, C. (2013, October). Business model
canvas perspective on big data applications. In Big Data, 2013 IEEE International
Conference on (pp. 32-37). IEEE.
Penumaka, A. P., Savino, G., Baldanzini, N., & Pierini, M. (2014). In-depth investigations of
PTW-car accidents caused by human errors. Safety Science, 68, 212-221.

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Appendix
Key Partners
 Employees
 Subsidiaries
 Advertisers
 Suppliers of
peripheral
parts
Key Activities
 Manufacturing
of the devices
 Sales
 Direct
purchasing
Value Propositions
 Unique
product
 Very
critical for
safe drive
 Wide
range of
promotions
and
discounts
Consumer
Relationships
 Helpline
 Users
community
 Price based
 Discounts
and offers
Key Resources
 Skilled
employees
 Presence
 Brand
 Know-how
Channels
 Social media
 Supermarkets
 Websites
 Retail
Consumer Segments
 Car drivers
and owners
 Existing car
companies
Cost Structures
 Offices
Revenue Streams
 Retail sales

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 Advertising and marketing
 Salaries
 Rent
 Maintenance
 Licenses
 Taxes
 Cost of goods
 Logistics expenses
Appendix 1: Business Model Canvas