Start up and creative innovation theme name smart mouses

UNIVERSITY OF INFORMATION TECHNOLOGY & VIETNAM KOREA COMMUNICATION Faculty of Computer Science START-UP AND CREATIVE INNOVATION THEME NAME: SMART MOUSES Students : NGUYEN DUC DAT NGUYEN VU HUY TRAN THAO NGUYEN NGUYEN THI VAN ANH Instructor : TS BUI TRAN HUAN Class : 22GIT1 i Da Nang, July 2023 ii UNIVERSITY OF INFORMATION TECHNOLOGY & VIETNAM KOREA COMMUNICATION Faculty of Computer Science START-UP AND CREATIVE INNOVATION THEME NAME: SMART MOUSES Students : NGUYEN DUC DAT NGUYEN VU HUY TRAN THAO NGUYEN NGUYEN THI VAN ANH Instructor Class : TS BUI TRAN HUAN : 22GIT1 Da Nang, July 2023 iii PREAMBLE Dear teachers, The current era of technology is developing at a remarkable speed, affecting every aspect of people's lives, from the way of working, entertainment, communication, learning, and the fields of production, medicine economy, agriculture and services The smart mouse is one of the advanced applications of artificial intelligence and computer science These mice are designed and equipped with special features to be able to automatically perform complex tasks, making human work easier and more efficient Notably, these smart mice can be used in a wide variety of fields, from scientific research, industrial production, to customer service and entertainment In the context of artificial intelligence technologies continuously developing, the topic of smart mice is becoming one of the topics of great interest and research iv THANK YOU We would like to express our sincere thanks to Mr Bui Tran Huan for leading and guiding us during the implementation of the smart mouse project Thanks to your help and guidance, we were able to successfully complete the project Besides, we also want to thank you for imparting us useful knowledge about artificial intelligence and technology, helping us to better understand their applications in life Once again, I would like to thank you very much for your support and contribution in this project Thank you sincerely ! Students Ng uyen Duc Dat Nguyen Vu Huy Tran Thao Nguyen Ngu yen Thi Van Anh v COMMENT OF THE FEMALE TEACHER vi TABLE OF CONTENTS PREAMBLE PART ABOUT THE PROJECT 1.2.1 Market analysis 1.2.2 Presenting ideas about the project 1.3 Present the product model of the project 1.4 Another point of the startup project to be implemented PART PROJECT CONTENT 2.1 Target customer segmentation and customer pain .7 2.1.1 Target customer segment 2.1.2 Customer pain 2.2 Detailed implementation of Business model Canvas: .8 2.2.1 The value that the service brings to the target customer 2.2.2 Customer segmentation 2.2.3 Customer relationship: 2.2.4 Sales channels: 2.2.5 Main activities 10 2.2.6 Key Resources 10 2.2.7 Key Partners 10 2.2.8 Cost structure 10 2.2.9 Revenue stream 12 vii PART PROJECT IMPLEMENTATION .13 3.1 Overall strategy .13 3.2 Develop a Marketing Mix plan for the project 13 3.3 Implementation plan 14 PART CONCLUSION AND DEVELOPMENT DEVELOPMENT 16 4.1 Conclusion 16 4.2 Development direction 17 viii PART ABOUT THE PROJECT 1.1 Project name: Smart mouse 1.2 About the project Nowadays, using computers has become an essential need of modern life And when using a computer, the use of a mouse is one of the essential things to manipulate the computer more effectively However, with long-term use of the mouse, many people will experience wrist, shoulder or arm pain According to our statistics: To solve this problem, our team has developed a unique and useful smart mouse This smart mouse has a massage feature, helping users relax and reduce stress after a stressful working day Besides, the health index monitoring feature helps users to check their health regularly and periodically This makes it possible for them to detect health problems early and take preventive measures in time In addition, the feature of taking body temperature as energy is also a unique and convenient feature Thanks to this feature, users can save money on charging their smart mouse 1.3 Present the product model of the project 1.4 Another point of the startup project to be implemented The difference of our smart mouse products is not only in smart design and convenient features, but also in operating model and operating technology - Operation model: We deploy a unique operating model that combines technology and people to deliver the best customer experience We build a system to help customers search and choose smart mouse products that suit their needs At the same time, we also provide consulting services and support customers in the process of using the product -Operation technology: Our smart mouse products are equipped with advanced technology, allowing users to customize and control mouse features through the included software This helps users to customize and change the mouse's functions to suit their needs In addition, our products are also designed with wireless connectivity, making it convenient for users to use and not be interrupted by cables In short, our smart mouse product has a unique operating model and is equipped with advanced technology, providing the best experience for customers and helping them customize and control the product easily and convenient PART PROJECT CONTENT 2.1 Target customer segmentation and customer pain 2.1.1 Target customer segment - Individual users: + Graphic designers, digital graphics, editors, gamers, and more are in need of a smart, customizable mouse that meets their needs + People who work at the office, especially technical staff, accountants, stationery, etc need a mouse that is smart, convenient and meets their daily use needs - Businesses and organizations: + Businesses and organizations are looking for a solution to save costs and increase employee productivity using innovative technology products + Educational institutions are in need of a convenient solution that meets the needs of students and teachers in the online teaching and learning process - Professional users: + Experts in technology, engineering, science, and more are in need of a smart, customizable mouse that meets their needs in the process of studying and working 2.1.2 Customer pain Based on the features and characteristics of the smart mouse product, some of the pain customers may be experiencing: - Difficulty in finding a smart mouse that meets the unique needs of each individual or business - High cost when buying smart mouse products with advanced features - Some smart mouse features cannot be controlled or can not be customized according to user needs - The product does not meet the standards for design, quality and performance - The product does not meet the needs of businesses with a large number of employees - Difficulty in using and maintaining the product - The product is not suitable for users with weak mobility or difficulty in using conventional mouse devices In summary, the pain customers are experiencing when looking for a smart mouse can include difficulty in finding the right product, high cost, poor product quality, difficulty in using product use and maintenance If your smart mouse product can solve these pain points, this will be a strong point to attract customers and increase their trust in your product 2.2 Detailed implementation of Business model Canvas: 2.2.1 The value that the service brings to the target customer - Benefits that customers receive: + Save time in choosing a product that is right for you + Reduce costs for customers (because of the optimization of all items, the product has a relatively lower price than similar products, saving a cost for customers) + Convenience: The product directly hits the customer's pain so that they can solve the problem they are facing + Improve quality of life: products with preeminent features help improve quality of life + Enhance work efficiency: Products help customers increase work efficiency, contribute to their success in work or business 2.2.2 Customer segmentation -Description of target customers: + Users of laptops, tablets, and phones + Working in the field of information technology + Age 20-45, age with suitable economic conditions as well as the need to use equipment with new features and designs + Stable income Gender: both male and female - Access area: + Initially, it is the market of Da Nang-Central city, then it can be expanded to the market in cities in the North and South (Hanoi, Ho Chi Minh City) - Psychological features: + These are people in technology who are creative and always demand new products to suit their needs + Customers are often young people who are bored with mice with classic design, low performance and high price 2.2.3 Customer relationship: - Customer interaction: through the messaging system on the website, via e-mail and direct calls to the hotline The consulting staff ensures 24/7 operation, responds and advises customers quickly and wholeheartedly -Keep, maintain and develop the number of customers by serving wholeheartedly and thoughtfully; there are many 10 periodic promotion policies; service costs, reasonable aftersales regime 2.2.4 Sales channels: Apply some of the following marketing methods: - Marketing services directly at enterprises with large sales in the market; Universities, colleges, vocational training centers, - Run ads on popular social networking platforms: Facebook, Instagram, Tiktok, Youtube, - Hire advertising articles in famous newspapers - Hire celebrities to post and advertise on their live online - Bringing business models to competitions for startups, startups, science and technology 2.2.5 Main activities -Design and manufacture smart mouse - Activities to maintain distribution channels: service mode, dedicated advice with attractive promotions and appropriate after-sales policies 2.2.6 Key Resources - About human resources: + Leadership: director and department heads + Manufacturing and development department: 15 employees + Consulting department: 10 employees, divided into shifts a day, guaranteed to work 24/24 + Marketing department: employees + Other departments: 10 employees 11 2.2.7 Key Partners - Cooperate with universities, colleges, and vocational training centers that use laptop technology devices to easily reach students who are customers - Cooperate with shopping centers, or distribution centers of electronic components to increase sales -Collaborate with product manufacturing component suppliers to source materials at affordable prices 2.2.8 Cost structure Develop a financial plan: - Funding Plan: + Estimate capital structure: equity and debt capital Equity goes to the entrepreneur and start-up partners, loan includes bank loans or investment capital from investors + Looking for investors: • Find investors through events, seminars or network with investors • Apply to government or NGO startup support programs • Consider other forms of public funding such as crowdfunding or social investment funds - Expense: + Variable costs (VC): • Cost of raw materials: The estimated cost of raw materials is 40% of the selling price, with a selling price of VND million 12 So the material cost for each product will be 40% x million = 1.2 million VND • Production costs: This includes labor costs, machinery rental, production technology, and other costs associated with the Super Mouse manufacturing process Estimated production cost for each product is 800,000 VND • Packaging and shipping costs: This is the cost to package the product and ship it to the customer This cost estimate for each product is 200,000 VND + Total variable cost: (Cost of raw materials + Cost of production + Cost of packaging and shipping) x Number of products sold = (1.2 million + 800,000 + 200,000) x (70 million x 20%) = 28 billion VND • Fixed costs (FC): • Rental cost: Estimated space rental cost in the first year is billion VND • Administration expenses: Including management staff salaries and other administrative expenses, estimated at 1.5 billion VND in the first year • Marketing and Advertising Expenses: This is the cost to market and advertise the Super Mouse product This cost is estimated at 100 million VND for the first year • Total fixed costs: Rental cost + Management cost + Marketing and advertising expenses = billion + 1.5 billion + 100 million = 2.6 billion + Total costs incurred = Variable costs + Fixed costs = 30.6 billion - Profit is calculated by subtracting total costs from revenue: Revenue - Total costs incurred = 42 billion - 30.6 = 11.4 billion 13 2.2.9 Revenue stream -Revenue: +Revenue source: sales in the first year + Estimated revenue in the first year: •The Vietnamese market has about 70 million computer users • Of which, 20% of the 70 million computer users (70 million x 20% = 14 million) will use Super Mouse • The market price for each Super Mouse product is million VND • Therefore, the revenue in the first year can be calculated by multiplying the number of products sold by the selling price: 14 million x million = 42 billion VND PART PROJECT IMPLEMENTATION 3.1 Overall strategy Brief process of how to implement a project according to the entrepreneurial mindset -Build: finished product ( ) -Measurement: bringing the service to the hands of potential customers to use to evaluate the effectiveness of the service 14 - Learn: receive feedback from customers to add, remove, improve, and add necessary elements for the service After that, gradually improve services, human resources, expand markets, gradually gain the trust of customers 3.2 Develop a Marketing Mix plan for the project C-4P + Product (Product): Super Mouse is a smart computer mouse product with special features such as hand massage, health measurement and sound adjustment when clicking These features will help users have a better mouse experience and protect their health We will focus advertising on these special features to differentiate the product +Price (Price): With special features and convenience that the product brings, the price of Super Mouse will be a bit higher than normal mice However, the price must still be set in accordance with the level of competition in the market We will study the market and offer the most reasonable price so that the product can be sold well First, to make a mouse in the range of 2-2.2 million dong, of which (500k money for electronic materials, the rest is production), then the selling price will be million per mouse, including money for advertising processes promote products and cash So if we can find a cheap source of quality electronic materials, the mouse will be priced at million VND + Location (Place): 15 Super Mouse will be sold online through the company's website and other e-commerce sites such as Tiki, Lazada, The product will also be available at major electronic stores and supermarkets for users to have can experience the product firsthand We will also look for product distribution partners to expand the consumption market + Advertising (Promotion): To promote products, we will use online communication channels such as Google Ads, Facebook Ads, Instagram Ads, to reach potential customers The company will also create media content such as videos and articles to introduce products on social media channels Besides, we will also organize promotions and discounts to attract customers to buy products With the above marketing plan, we hope to attract the interest of users and help Super Mouse become a successful product in the market 3.3 Implementation plan -From March 3rd, 2022, to October 8th, 2022: Develop project ideas -From October 9th to November 10th: Research the components and materials needed to create the product, and investigate the costs of these materials -From November 15th to December 30th: Proceed with designing a model for the product -Starting from January 2023: Survey market demand, investigate customer needs, and identify customer segments -Starting from March 2023: Carry out testing and survey the features of the product in a virtual environment 16 -In August 2023: Import a small quantity of raw materials to produce some trial products -In October 2023: Conduct final product testing before launching it on the market with a specific group of users to observe the results -In December 2023: Receive feedback from users, make adjustments and optimize the product quality to create more refined products -In March 2024: Import a large quantity of raw materials and produce a large quantity of products for release to the market 17 PART CONCLUSION AND DEVELOPMENT DEVELOPMENT 4.1 Conclusion -Favorable: + More autonomy in the working process: When starting a business, we will become the owner of the startup You will no longer have to work to anyone's orders and will be able to tailor your schedule to your own free time + Will be more responsible for ourselves and our work, because we will be the ones who hold the destiny of the startup's success or failure This will help us to become more mature, more responsible and have more profound lessons +Success and create a reputation for ourselves: everyone will be happy when we ourselves can create a reputation for ourselves, helping ourselves to have a better view of our family, friends and people around us Having the opportunity to improve ourselves gives us the opportunity to meet many people, encounter difficulties and challenges Then making wise business decisions will help you develop and improve yourself + Satisfied with what you are doing: Realizing your own dreams, passions and hobbies is nothing better Expected difficulty: Investment capital: The beginning of everything is always money, even a small amount Calling for investment capital can be difficult 18 for businesses when they not have a certain reputation When you want to raise capital, you need to demonstrate that the product output will be completely resolved At the same time, the growth rate of the product will increase continuously for many years or quickly in bringing profits with short-term projects +Competitor: You can invest all your time, money and effort in your business without worrying about a big competitor targeting your customers and offering them a unique product similar product or service at a lower price, your business will fail +Shortcomings in building company structure: In order to maximize employee skills and optimize work performance, startups should have a clear departmental structure In addition, the company also needs to define short-term & long-term goals, measurable expectations and a delicate training process On the other hand, Startup startups always start with their entrepreneurial journey without paying attention to corporate culture, which can lead to internal challenges, conflicts, and frustration among employees 4.2 Development direction - Analyze more closely about rats, expand the scope of survey and distribute to other areas - Build and develop this business model in the future if conditions are met 19 20