(Tiểu luận) executive management topic artemis smartwatch

NATIONAL ECONOMICS UNIVERSITY FACULTY OF BUSINESS MANAGEMENT *** EXECUTIVE MANAGEMENT Topic: Artemis Smartwatch Instructor: Mrs Bui Cam Van Class : DSU 6A Student full name : Vu Nguyen Khuong – DSU06038 Thai Ba Quang – DSU06055 Tran Khoi Nguyen – DSU06050 Nguyen Anh Kiet – DSU060371 Doan Diem Quynh – DSU06056 Bui Phuong Minh – DSU06043 Pham Thi Bao Ngoc – DSU06048 Nguyen Ha My – DSU06044 Dinh Huy Phong – DSU06052 Hanoi – 2022 ARTEMIS SMARTWATCH I.INTRODUCTION Introduction about Artemis Smartwatch • Reason for the birth of the Artemis Smartwatch: Realizing that on the market today there are many types of smart electronic watches that can make calls, send messages, and connect to Bluetooth, but the price is quite high They range from to 21 million VND That's why the company has decided to give a smartwatch full of basic functions and provide additional applications to support consumer health care such as measuring heart rate, and speed mobility, sleep management at mid-range prices Target customers are students, young people, and people with low and middle income • General information: The name of this smartwatch is Artemis Smartwatch which comes from the name of the Ancient Greek goddess of hunting, wildlife, the moon, and chastity We are not only about the price and quality of the product, but we also pay great attention to the design of the product Because the target audience is mostly young people, who pay great attention to the product's appearance It has a gentle design suitable for all ages, suitable for all outfits, and all personalities Here is a picture of the product that is expected to launch: • Producing process: The product is manufactured according to a planned production model so that customers can try it out (specifically 30 products) and give feedback on the product After receiving customer feedback and editing the finished product, the product will be transferred to the mass-production model and put on the market “Mass customization is a business concept that refers to the ability of a business to manufacture and market customized products and services to individual customer requirements The cost of an on-demand unit remains low or equal to the mass production price " Analysis of environmental factors: a External environment: • Economy: The economy is on the way to development and integration has created opportunities for customers to have more comfortable consumption opportunities The Vietnamese market is a potential market with a fast-growing economy, creating opportunities for businesses and making profits Therefore, technology products are increasingly being chosen by consumers, especially products with high applicability to life such as smartwatches • Customers: When it comes to viewing goods, Vietnamese people have many different interests and most of them want a watch with a reasonable price and high applicability Therefore, the Artemis watch brand wishes to bring mid-range products to students, students, and people whose income is not too high to be able to buy expensive watches • Society: Society is also a factor affecting businesses such as population size, and per capita income Our country has a large population, moreover, the need to use smart devices to serve the needs of users' work, study, and health tends to increase, besides, beautiful, modern design is also a factor that attracts customers b Internal environment: • Mission: Always desire to bring high quality, durable, and highly applicable Artemis watch products to customers when using the manufacturer's products • Vision: - Artemis watches always prioritize understanding customers, always taking the wishes and needs of customers as the top focus - With the criterion "Vietnamese people give priority to using Vietnamese goods" Artemis watch brand has always wanted to create products that bring good performance along with high quality Reasonable prices are suitable for all Vietnamese customers • Staff: To create a quality Artemis watch product, the staff is also an important factor The company always requires employees to be dynamic, creative, skilled, and experienced, thereby creating conditions for the development of the Artemis watch brand in the production of differentiated products • Machine: To create quality Artemis watch products, the Artemis watch brand uses the most advanced and modern high-tech equipment and machinery imported from Europe Competitive environment - Competitors of the Artemis brand are mainly businesses with products imported into the Vietnamese market such as Samsung and Apple While Samsung Galaxy Gear and Apple Watch are aimed at fashion, personality, and high price, the Artemis smartwatch is aimed at lightness and simplicity suitable - Smart watch is a product that has been present a lot on the market, so in order to create awareness for customers, the product must show differentiation Therefore, Artemis watch products always make a difference, attract and arouse the curiosity of customers not only in the Vietnamese market but will also reach beyond II DEMAND FORECAST This survey was conducted to know what customers need and want in a mid-range smartwatch The link to the survey will be sent via text message to about 1000 people, mainly university students, and recent graduates Here are the survey questions from customers: Please rate your Very Somewhat Neutral Somewha Very satisfaction with the each of following Dissatisfied Dissatisfied t Satisfied The watch has colors black, white, and gray Smartwatches have different kinds of shapes Smartwatch has fastly connected to Smartphone through Bluetooth Clear provenance of the watch Have an official website to help the customers look for information Smartwatch can access to internet Smartwatch can use Android or IOS operating system Smartwatch can be waterproof Smartwatch can play a videogame Satisfied Smartwatch can insert a sim card to make calls Time to use smartwatch can last for hours when fully charged Smartwatch has GPS setting Smartwatch has a user’s health monitoring mode Smartwatch has one year warranty Smartwatch has multiple strap materials Always have customer support staff in the store as well as on the website After having the results of the survey, we compiled a list of the factors that the survey respondents rated as necessary for a smartwatch - Connect to the Internet - Connect to smartphones with basic features such as making calls - Long use time on a single charge - There are different types of straps and shapes - Health monitoring function Document continues below Discover more from: Operations Management Đại học Kinh tế Quố… 132 documents Go to course 37 29 27 12.3 Phạm Tố Uyên OM - OM_Individuals_123 Operations Management 100% (1) OM Group-3 Report Business Idea Operations Management 100% (1) Tài liệu OM - OM document Operations Management 100% (1) Final Paper Operation… Operations Management 100% (1) Operations and Project Management Operations Management 100% (1) Case study instruction, Individua… Through this survey, the product design department knows the points that need to 11 be improved, upgraded as well as limited errors, perfecting Operations the product to meet the None needs of customers Management III PRODUCT DESIGN Clock structure a External structure • Dimensions: 45mm and 40mm • Screen: - Round face design with AMOLED screen, ensuring a clear, vivid display with near-perfect color details - Resolution of 416x416 pixels (45mm version) and 360x360 pixels (40mm version) - The screen will automatically turn off when not in use This increases battery life, providing a much better user experience • With a plastic structure, Artemis is light, the watch weighs only about 49g, this will have an impact on the feeling of use when worn on the hand for some users • The Artemis smartwatch has a rubber strap with beautiful lines with a traditional buckle style • Users will manipulate Artemis through buttons on the watch's right side and the touch screen There are not many details to skim through on the screen, the button above will go back to the previous screen and the button below is power key In short, most users will still a lot of operations on the touchscreen Next to the power key is microphone b Inside the structure - Screen Cable - Pin clock - Snails - Microphone of the watch - Taptic Engine - an engine that simulates the number and strength of each tap - Speakerphone - Antenna of the clock - Antenna GPS - Antenna NFC - Frame clock - Clock rotates the crown - Processor (CPU) - System sensor clock - Watch stand - Scroll thank you c Features of Artemis smartwatch that stand out from other products: - The price is suitable for customers who are students, students, and newcomers - Still keeping all the necessary features of a standard smartwatch - Battery capacity for longer use during the day - There is an energy-saving mode that automatically optimizes settings to use less power - Compact design hugs the hand more than the watch on the market - Support to connect with phone devices running on both popular operating systems such as iOS, and Android House of Quality 2.1 Define customer requirements (Customer Voice) _ To establish a complete definition of all customers wants, face-to-face interviews were conducted with questions: “What customers expect from Artemis smartwatches?” and “Quality comparison based on customer expectations for tried-and-true products: Artemis, Apple Watch 2, Redmi watch” _ After directly interviewing 30 people, including consumers in the low-end segment, who are office workers, students (20 people), employees of the company's sales department (5), and marketing department (5), these expectations are listed, including basic desires that the customer takes for granted Expectations can be expressed in many different terms in this topic such as customer attributes, customer voice, customer needs, and customer requirements _ The relative importance of a customer claim was determined by counting the number of mentions (frequency) of each claim in 30 interviews These weights are shown in the HOQ next to each customer voice as the percentage of mentions of each request, totaling 100% for all customer voices 2.2 Assessment of competitiveness _ After letting customers experience types of Artemis watches, Apple Watch 2, and Redmi watch, customers evaluate the quality of products based on the customer's requirements for the smartwatch just listed, using a 5-point scale (with 1very dislike, 2-dislike, 3-acceptable, 4-like, 5-likely), the score of each product on each claim is the average score from all customers who have submitted the request there _ This result shows how the company's product quality compares with its competitors at each customer's requirement and shows the gap between the ability of the current product to meet the customer's wishes for products This information is the foundation for setting quality goals and increasing customer satisfaction as well as choosing a competitive advantage for the company's products 2.3 Selection of specification Next, we translate the voice of the customer into the voice of the organization Customer requirements are translated into specifications and grouped through consultation with the QFD team Each specification listed at the top of the quality house affects one or more customer requirements As noted above, some customer requirements are less important and have been met to the highest level that will be omitted without translating into corresponding specifications _ Moreover, the important requirements of customers mainly belong to features, quality of products, and decisive technical factors The main determination is the technical quality of each brand, while the technical quality of each product is secret and thus cannot be publicly determined nor can the technical quality of competitors be determined for comparison _ several (limited) specifications that can be measured and also have a direct impact on customer requirements include two groups: inside and outside _ Inside includes: Diameter of the watch face, Weight of the watch, HD quality of the screen, Watch Strap _ Outside includes: Watch battery size, Standard microphone of the watch, Speakerphone of the watch, Watch antenna 2.4 Setting quality goals 10 Setting quality goals involves comparing current measures of the company's product specifications with those of competitors and giving target values for each specification to meet maximum customer requirements - Score in each emotion indicator: The perception is calculated by the average score of the customer's requirements, which is strongly correlated with the sensory criteria assessed by the customers themselves for the company's products and competitors' products Next is to determine specific target values for each specification For internal and external criteria, the target value is selected as points – the target level of customer requirements Finally, we evaluate the technical feasibility (technical difficulty) we use a 5level scale: – Easy to do, 2- Can be done, – Can be done but need a little time, 4- a bit difficult to do, - Very difficult to 2.5 Relationship matrix between specification and customer requirements This matrix is in the body of the quality house, it shows the relationship between customer requirements and design features We define the customer-requirement relationship and the design feature described in Section 4.3 The weighted value representing the relationship between the characteristics is used to determine the importance of each specification in the next section The results are filled into the body of the quality house, and managers as well as implementation members can see how each design feature affects each target level of customer requirements (section 4.5) A specification can positively (positively) affect one customer’s requirement, while it can negatively (reversely) impact another customer’s requirement This matrix shows the comprehensive impact of specifications on the satisfaction of customer requirements 2.6 Determine the importance of each specification Finally, we rank the specifications according to their importance and select the most important specifications that directly affect the level of customer satisfaction, thereby making it easier to plan adjust The results show that there are three most important technical factors in order: The diameter of the watch face, the Weight of the watch, HD quality of the screen These three factors directly impact critical customer requirements Thus, to improve products and improve customer satisfaction, the company will have to focus on improving research on these factors 2.7 Highlighting the contradiction This phase identifies the possible trade-offs between design features Adding this one design feature can have a positive (forward), negative (reverse) effect, or no 11 effect on other design features The scale showing this correlation varies from -1 (N - Negative) to (P - Positive) A positive correlation (=1) occurs when one design feature supports another Conversely, a negative correlation (= -1) occurs when one design feature adversely affects the achievement of another design feature This information is shown on the roof of a quality home 2.8 General assessment of the application of HOQ in the improvement of smartwatches Artemis watch After completing the construction of a quality house for Artemis with noodles, it can help us to see the important requirements of the customer, the corresponding important technical design requirements, and the product advantages and disadvantages The company's current Artemis watch compared to the competition according to customer reviews, based on this information can help managers make the right decisions or uncover strategic opportunities IV PRODUCTION PROCESS There are types of production processes that are suitable for the company Repetitive focus: • The repetitive focus is production facilities are usually organized by assembly lines, characterized by modules (previous parts and assemblies) Modules are combined for multiple output choices • Reason: Lower costs because automatic assembly line production requires fewer workers - Characterized by modules with parts and assemblies made previously Obtains both the economic advantages of the continuous model (where many of the modules are prepared) and the custom advantage of the low-volume highvariety model - Modules may be combined for many outputs options - Less flexibility than process-focused facilities but more efficient Mass customization focus: • Mass customization focus is a business strategy that focuses on customers and recognizes the need to provide outstanding products while using new programs and procedures • Reason: 12 Allows customers to choose from a range of customizable design specifications, colors, structures, patterns… - Attracts customers and improves the brand image - Contributescustomerer’s satisfaction and delightfulness The rapid, low-cost production of good service to satisfy increasingly unique customer desires Ensures timely delivery using existing equipment and technologies and new programs and procedures It gives brands and combines the flexibility of a process focus with the efficiency of a product focus V LOCATION AND INNOVATION Location Strategy · One of the most important decisions a firm makes · Increasingly global in nature · Significant impact on fixed and variable costs · Decisions made relatively infrequently · The objective is to maximize the benefit of location to the firm · Once committed to a location, many resource and cost issues are difficult to change Location and Costs · Location decisions based on low cost require careful consideration · Once in place, location-related costs are fixed in place and difficult to reduce · Determining optimal facility location is a good Investment Location and Innovation · Cost is not always the most important aspect of strategic decisions · Four key attributes when strategy is based on innovation: High-quality and specialized inputs An environment that encourages investment and local rivalry 13 A sophisticated local market Local presence of related and supporting industries Location Decisions Benefits · A company can easily enter and enlarge the market · Affect long-term plans and strategies · Maintaining the stability in production · Make use of the company’s competitive advantages Affect a region's economic development Example for Location and Innovation 14 Address: 58B Ba Trieu Estimated price: 100tr Details: 80m2 x floors, 4m parking slot in the frontage Advantages: · Suitable for company offices, Bank branches or service business and trading, · In the central of Hanoi, a busy development area, 800m from Hoan Kiem Lake · Full facilities with markets, supermarkets, shopping centers, schools, medical centers, entertainment, banks nearby, densely populated and civilized streets From the information above, we can see that the amount of money to spend on the location is a lot But in Ha Noi, especially in a prime location like Ba Trieu Street, it is a fact that this is a very crowded location, which have lots of citizen moving on the Street Placing the store in this location will be an ideal place to attract passersby, because the store is located at the intersection and especially when people stop waiting for the red light, the first thing they see will be the store Example for Location and Cost 15 Address: 62 P.Thai Ha, Trung Liet, Dong Da, Hanoi, Vietnam Estimated Price: 40 mil VND Details: Total area 30m2, frontage 4m Advantages: • Located on the Thai Ha technology route, have crowded citizens • Suitable for opening a business To compare with the last example, we have this place located on the road of Thai Ha technology door This route is dotted with shops, the center of countless leading giants in the technology market, I believe that with the right space and stable decoration, our shop will look more eye-catching compared to other competitors Moreover, the price at the location is also extremely affordable if compared to the first place, the price difference is 60 million VND Overall, we see that the two locations have their own advantages but to choose the best one I think I should need something more reliable And that is the FactorRating Method 16 Factor-Rating Method Critical Success Factor Weight Score (out of 100) Weighted Scores Option A Option B Option A Option B Labor availability and attitude 0.24 80 70 19.2 16.8 Land and construction cost 0.17 50 85 8.5 14.45 Costs and availability of utilities 0.20 80 70 16 14 Expand the company's product range 0.26 60 50 15.6 13 Government incentives and fiscal policies 0.13 70 65 9.1 8.45 Totals 1.00 68.5 66.7 According to the chart, we can see that the total point of option A is higher than option B Therefore, opinion A is the best chosen 17