Table of Contents
- 1.0. Impertinent Surveillance Solutions Company
- 1.1. Executive Summary
- 1.2. Objectives
- 1.3. Mission
- 1.4. Key to success
- 1.5. Business Concept in Brief
- 2.0. Customer Context
- 2.1. Value proposition statement
- 2.2. Goal statement
- 2.3. Business model diagram
- 2.4. Milestone diagram
- 2.5. Brand -Culture statement
- 2.6. ISSC’s Unique Selling proposition
- 3.0. Business Idea Context
- 4.0. Returns from the Innovation
- 5.0. Market Opportunity
- 6.0. Market Strategy
- 7.0. Deliverables towards realising the venture idea
- 8.0. Cost and Revenues
- 9.0. Minimal Viable Product
- 10.0. Exit/Commitment Strategy
- 11.0. Work Cited
- 12.0. Appendices
1.0. Impertinent Surveillance Solutions Company
1.1. Executive Summary
Impertinent Surveillance Solutions Company (ISSC) is the process of developing of an enhanced portable surveillance gadget (closed circuit television-CCTV). The firm is owned by a group of young inventors who are on a mission to provide inexpensive technologies and answers to issues that impact practically everyone in the residential and corporate worlds. This business plan was created to act as a guide and management tool for the launch of this company endeavor, as well as the foundation for a comprehensive marketing strategy. The following section summarizes the plan’s major points.
– The goal of ISSC is to create revenue for the organization and to provide jobs to a variety of people in today’s society, which is wracked by rising unemployment rates.
– ISSC’s goal is to offer an inexpensive and effective solution to the surveillance process by developing a device.
– With regard to the different market categories selected, the first product will be available in the surrounding regions.
Because of its cost and ability to use mobile telephone for alerts and monitoring, the device has a large local and worldwide market.
– Finally, the preliminary financial analysis of the project’s feasibility clearly demonstrates the project’s exceptional potential and outcomes. According to different research, closed circuit television has played an important role in crime prevention and investigation. Incorporating mobile phones into this technology reduces the load of monitoring devices while also enhancing the essential extension of security measures in today’s high-tech environment.
Finally, as this plan will explain, this strategy anticipates fast growth and substantial net returns over the next three years. ISSC will ultimately and suddenly develop into a lucrative venture for the team of inventors and a gratifying venture for the consumers if the plan is well implemented and accompanied by a thorough marketing strategy.
The objectives of the business plan are:
- Introduce a step-by-step process for controlling ISSC’s growth: a strategic technique for creating a complete tactical marketing strategy.
- Determine the market base capitalization that will be used.
- Determine the venture’s anticipated profits and viability.
The objectives of ISSC are:
- Make enough money to fund future expansion and innovation.
- Create surveillance devices that are both cheap and effective.
The mission of ISSC is very clear and simple:
- Purpose: ISSC was created to provide portable CCTV that is both effective and cheap.
- Vision: The majority of families and small businesses will purchase surveillance devices because they are effective and cheap.
- Marketing slogan: “ISSC the impertinent solution to your premises protection.“
1.4. Key to Success
The set keys to success for ISSC are:
– Assuring a high level of product quality.
– Maintaining a high level of marketing and networking tactics
– Improving surveillance sector response.
– Establishing a loyal and friendly connection with its client bas.
1.5. Business Concept in Brief
Impertinent Surveillance Solutions Company has been established with the aim of ensuring that private property and business premises security is enhanced. This is with respect to monitoring the happenings of the premises when the owners are away from them. The idea of leaving ones property secure and safe has been a great torture to many. The introduction of closed circuit television has brought great relieve in the search for security solution with regard to monitoring intrusion of unwarranted guests in the premises or homes. Though the acquisition, of CCTV Cameras has been of the essence in the surveillance, the cost of installing and maintain the gadgets has proved unaffordable to the majority of people especially the home owners(Javed, 15).
With the growth, of ICT and embracing of mobile telephony by a majority of people glob ally, the utilisation of mobile phones for service delivery has been on the rise. ISSC aims at coming up with surveillance gadgets that incorporate the mobile phone for monitoring and getting of alerts in case of unwarranted intrusion in the premises. This will notify the owner or the security personnel from wherever they might be for actions towards preventing any eventual burglary. The main idea behind the in ovation is to enhance surveillance and make it accessible to many by coming up with an affordable gadget.
2.0. Customer Context
Security in the work places, institutions and residential places has been put in jeopardy. The monitoring of what is happening in the places whenever the workers or owners are absent is something to be prioritised. The coming up with CCTV cameras has boosted this trait to the point of being in a situation to assess what is happening at odd hours. The CCTV cameras that are in existence are bulky, expensive and complicated to install and mange. This has prompted the idea of coming up with an improved less bulky monitoring gadget that utilises the mobile phone and the laptop to get updates of the security nature of the premise.
This innovation will solve insecurity in virtually major and private premises and improve the exercise of monitoring the same. The whole idea of customer need is best described in the empathy map below. The advantage of the empathy map is that it clearly gives a deeper understanding of the need of the customer and help the designer devise the observations made to coming up with unexpected insight. This helps in the communication of the idea somewhat than the justification of the business idea existence. Further, it helps in the understanding of the customer to greater depth and getting an insight of the impending venture. To clearly illustrate the components of an empathy map, appendix one shows a sample empathy map. Growth Management Consulting (1) illustrates 6 key outcomes that a business plan ought to achieve from any given strategy review. This clearly outlines the big idea and can effectively be discussed with other staff for greater insights. The six components according to Growth Management Consulting include.
1.1. Value Proposition Statement
Amid the fact that this is a technological innovation, its simplicity surpasses the idea of complex concept of technology. The device is operational by everybody and monitoring done from the mobile phone. This improves the idea of improving security measures to the customer r with the fact that they are in a position to supervise their premises from wherever they are without necessarily being in the premise of interest. This clearly outlines the level of success to be realized with respect to the idea innovation. The situation of security prior to getting the enhanced portable CCTV surveillance gadget is subtle (Kruegle, 16). The owner only depends on the security guards or the acquisition of the expensive surveillance gadgets. With the acquisition of this device, the security is heightened with improved and manageable surveillance gadget. This gives a clear contrast of the situation of the acquiring the enhanced portable CCTV camera (Kruegle, 25). With this genuine innovation, it is certain to solve the problem of insecurity owing too the inaccessibility of the existing surveillance gadgets and failing entrusted existing options.
1.2. Goal Statement
The business of providing enhanced and affordable security to the public is a venture that will not only achieve innovation but also enhance satisfaction to customers on the market. The success of the business venture is critical with respect to the fact that the majority of residential and business premises are opting for increased surveillance methods to ensure the security of their property.
1.3. Business Model Diagram
– Security personnel.
– Mobile phone subscribers.
– Internet Service Providers(ISPs)
-Enhanced Monitoring via mobile phone.
-Portable Camera model that can be placed strategically in the house.
-Maintenance and surveillance costs
-Total Market strategy (Mass market)
– Business Partners
– Marketing fees
– Surveillance fixtures
– Communication revenues
– Hardware revenues
– Privacy protection revenue
According to Osterwalder and Pigneur (138), the ideas for business model innovations can be devised from anywhere as long as they match the idea to solve the problem faced by the customer. The coming up of this transformative idea of enhancing security can clearly be identified by the four epicentres of business model innovation. These are resource driven; offer driven, customer driven and finance driven. Any of these can devise a powerful impact towards realising a major business model change (www.businessmodelgeneration.com). Though the surveillance idea is not new in the global innovation, affordability of the technology, as well as the monitoring strategy has been complex to the customers. Thus, this innovation keeps in mind the four epicentres, in the course of modifying the business model and coming up with a successive innovation.
1.4. Milestone Diagram
|Develop- Launch||Sustainability||Global Expansion|
|Markets||Home producing town||Neighbouring countries||Utilise internet to reach the global market|
|Sales and marketing||Neighbouring residential and companies||Sign up with online marketers in neighbouring countries for promotion||Establish a fast selling website and online advertisement to enhance global marketing|
|Product||Enhanced home and corporate model|
|Finance||US$ 1 million||Getting investors||Bidding for international subsidiary manufacturers for cooperation in the innovation|
|Team||Manufacturers, technicians and marketers||Online marketers and promoters||Expand and recruit global team|
|Operations||Company premises||Upgrade the infrastructure|
|Risks||Calling for initial market base capitalisation||Venturing into new grounds without base market information||Relying on online marketers and customer confidence for progress|
1.5. Brand -Culture Statement
The surveillance devices have been associated with interaction of privacy by hackers and failure of gadgets to capture the situations at given times. This has been orchestrated by the enemies of technology who have been tampering with the operations of CCTV cameras control and surveillance centres. The winning factor of enhanced surveillance devices is through the customer will be able to monitor the functionality and consistence of devices from their mobile phones. With any failure or malfunction, the customer will be able to detect and alert the control and surveillance centres for rectification or investigations. This has been made a priority to concur with Osterwalder and Pigneur (22) concept of value proposition being the reason behind customers choosing a company over the other owing to their level of satisfaction or problem solution offered.
1.6. ISSC’s Unique Selling Proposition
The unique concept behind the selling of the gadget is that it will have to: –
- Incorporate the details of the owner by tracing their mobile phone numbers.
- Enquires about the gadget made by calling using the mobile phone.
- ISSC will send prompts to the prospective customer enlightening him or her on the product’s importance.
- Installation done by ISSC technical experts or recommended ones to enhance efficiency.
- Deliveries of gadgets made by ISSC staff or registered recognized parcel companies.
- Monitoring made effectively by ISSC.
According to Lazarus Research Group (2)market has segments that are by customers sharing similar criteria like common needs, purchasing behaviour and desired benefits of the product. Impenitent Security Solutions Company ensures the realisation of security measures to all with the most critical segment of the target being the residential customers. According to Osterwalder and Pigneur (133), this empathy map model will help us understand the B2B customers. The innovation of the business idea came from the fact that many fear the level of security in their homes at the hands of care takes and security guards while at their work places. On the same note, while entrepreneurs are at home during the nights they are wary of the security of their work premises from burglary.
This empathy map clearly illustrates the epic entre of the business idea. The detailed idea and its realisation will be discussed in the sections below.
3.0. Business Idea Context
The idea behind this composition is the realisation of a sound working and living environment. The individuals will have less to worry about how their homes or work places are when they are away. Consequently, the affordability of innovation is of critical context. The realisation and achievement of any idea innovation comes in the fact that the objects of the innovation can be accessed and acquired by the target customer. As Osterwalder (26) ascertains, the value proposition of this innovation aims at satisfying the entirety of the security need. The performance of this innovation has been made effective with respect to ensuring its service performance via monitoring initiative and progression. The value proposition of this innovation involves,
- Newness: the gadget ensures the introduction of a new mode of monitoring and surveillance.
- Performance: the effectiveness of the surveillance gadget has been enhanced with respect to creating new value for surveillance gadgets.
- Customisation: ISSC ensures that domestic surveillance gets a gadget specially made for house monitoring with corporate gadget specially made to fit corporate needs.
- Getting the job done: the effectiveness of the gadget has been enhanced with incorporating the customer at stages of thee product acquisition to enhance acquaintances.
- Design: the design employed is sufficient but simple to fit the customers need and understanding.
- Brand/Status: the brands under innovation have specially designed to meet customers’ classic idea of owning surveillance gadgets but with the context of affordability in the baseline.
- Price: ISSC’s plight has been to come up with a surveillance gadget that is affordable to all which has been achieved with the innovation of enhanced surveillance gadget.
- Cost reduction: the coming up with a low cost product enhances value proposition.
- Risk reduction: the value for owning this affordable gadget falls in the fact that customers reduce the risk of burglary with the acquisition of the enhanced surveillance gadget.
- Accessibility: the product will be made available through various channels as discussed in the context of model diagram.
- Usability/Convenience: the product has been enhanced with simple features that do not require high technical knowhow to maintain.
The many client groups that will be served by this invention will get the same brand of product service, albeit with different specifications and capacities. The residential package will only include a signal device in the customer’s home, with monitoring and signal detection installed on the customer’s mobile phone for notifications in the event of an emergency, regardless of where they are.
4.0. Returns from the Innovation
The innovation is service based but the customer will pay for both the installation as, well as the signal maintenance. The business model under consideration constitute the innovation of the enhanced surveillance gadget, installation and maintenance of the signal and surveillance process will tackled in conjunction with the various mobile subscribers in the areas of operation. With respect to Weil et al., (4) discussion, two dimensions are critical for consideration with respect to business models. These constitute functional integration and the degree of innovation. The discussion has been based with regard to the use ICT to enhance business with the incorporation of taxonomies of business and definitions of components of business model. With the current mounted CCTV cameras, the cost of buying and installation goes to the tune of US$ 100. This constitutes the cheapest model with advanced models going for US$ 700. The new innovation will see the acquisition of the gadget with as low as US$ 45 and installation charges of US$ 20. The total cost will stand at US$ 65 which is way down in comparison to the cheapest model highlighted above. The greater advantage with respect to the enhanced portable gadget is its mode of mounting. It does not require any expansive expertise to install.
The surveillance of the gadget will be monitored by use of the mobile telephone of the customer. The charges will be accosted to the mobile subscriber of the customer. This is in line with the delivery of alerts, getting video coverage of the happening sin the house combined with the sound tracking and decoding of the subjects in the premises. This will be continuously charged and will be negotiated between the knowledge of the company and the customer.
5.0. Market Opportunity
The growth and development of ICT has seen the embracing of current technologies in nearly all aspects of our lives. The inclusion of enhanced surveillance gadget with respect to use of mobile telephony will attract a large market base. In the first two years after the device’s release, it is anticipated that 100,000 households will install the device. The successive years are projected to be more promising with a purchase of an average 10,000 gadgets per month, totalling 120,000 per annum. The market will increase tremendously with intense advertisement of the product and the projected increase will continue for a period of five years and reach its peak in the sixth year. At this point the gadget will have circulated to the majority of the households, business companies, and public-private offices.
According to Lepon and Popkin (3), studies have effectively shown that there is considerable decrease in crime with CCTV use. The affordability of the device has been the hindrance towards the acquisition of the same for effectiveness purposes. CCTV cameras have been utilised not in the enhancement of security, but also in the aiding in investigations or solving crimes. This clearly illustrates the broad spectrum necessity for the use of surveillance gadgets with respect to improvement of security and helping in crime solutions.
6.0. Market Strategy
ISSC (Impertinent Surveillance Solutions Company) will pursue a complete market approach. This would involve providing diverse surveillance devices to distinct sectors of the market in order to serve the whole market. According to Antariksa (7), this will be enhanced by employing different combinations of gadget costs, product capacity in terms of room coverage and scope, as well as distribution strategies in the various segments. On the same note, the top management will be committed to embracing the entire market and establish a strong financial position (Longenecker, 24).
ISSC will utilise the first in strategy to introduce its products to the market. Though the CCTV camera gadget has been in existence for a period of time, these will be the first ones employing the idea of mobile telephony for monitoring the premises and getting the alerts instead of the usual static screens installed in the premise. This poses a greater challenge of entering the market to introduce a different version of the gadget but with an advantage of improved features and affordability. With high willingness to take the risks, enhance technological proficiency, initiate intense promotion of the product to create high levels of primary demand with an eventual careful e valuation of strengths to the market of the product (Abrams, 56). This will enhance a market base that ensures the sustenance of the product and eventual acquiring of confidence among the achieve market base. The product promotion will be conducted with intense marketing both on the ground and online. The ground marketing will be carried out with our well trained marketers of the technicalities and the importance of the gadget. Further, the online marketing will be conducted at the company’s website where the product specification, models, prices and demonstrations will be hosted for online shoppers to get full details of the gadgets. The utilisation of marketers on the ground is expected to establish a home market base and ensure companies and individuals learn about our innovation. With respect to online marketing strategy, Orquin (16), clear objectives are high critical in the formation of strategies and tactics in the strategic marketing. The utilisation of the mnemonic SMART (specific, measurable, achievable, realistic and time-constrained.
7.0. Deliverables towards realising the venture idea
As innovators of the strategic enhanced portable surveillance gadget, we are bound to outsource for funding to make the production, marketing and installation of the gadget a reality. This will be made effective with sending the proposed idea to mobile phone subscribers who will be partners in the maintenance and surveillance venture. Further, the security personnel will have to be notified with respect to endorsing the viability of gadget and its involvement not jeopardising the privacy of residents and companies.
The business team behind this idea has been well formulated with the division of four sections; the technical innovators, implementers, marketers and communications or surveillance specialists.
- Technical innovators are the ones behind the modification of the idea and strategising on the requirements to achieve the product. This has been ensured by incorporating a team of members with surveillance knowledge, camera modification and mobile satellite modification to acquire the signal from the surveillance camera.
- The second group consist of implementers whose work is to ensure that the whole idea is realised by looking for finances for the materials required, acquisition of legal authority to produce and install the gadgets and eventually soliciting for corporate partners in the surveillance service like the mobile phone providers.
- Marketers in this context have been placed with the function looking for markets at the residential and global context. The local marketers will promote the device door to door in the residential places and company to the company at the corporate level. With respect to global marketing, this team has been mandated to ensure the acquisition of online marketing strategies and requirements. This calls for web designing strategies and networking with online international marketers for making contacts on the ground to test market base viability.
- The last team constitute surveillance specialists whose work will be to ensure partnership with mobile phone subscribers for purposes of subscribers getting alerts and viewing the circumstances in their premises. This calls for specialists in communication to ensure the realisation of the work under this team
With respect to the four groups, it clearly outlines the four groups of specialist that would be required for the realisation of the product acquisition. The technical engineers with experience in digital closed camera television surveillance will be of much importance. In line with this concept are the communications experts that will also double as online web developers for online marketing venture. With respect to local marketing, sales and marketing of the product will look for marketers with a passion for technical expertise as they will have to describe to the prospective customers the mode of gadget working.
8.0. Cost and Revenues
Cash Flow projections for the first three years
|Sales and marketing||1,500||3,000||5,000|
|Total Operating Expenses|
|Profit before Tax|
9.0. Minimal Viable Product
The enhanced portable surveillance gadget will be acquired and availed at a cost of US$ 35 for business idea testing and enhance market capitalisation. This will effectively enhance the usability and reliability of the product towards enhancing surveillance in the residential premises and corporate business premises. This will be crucial in ascertaining the viability and legibility of innovation with the testing of customer base and retention factor of customer realization will be ensured. The product differentiation will be ensured with respect to the enhancement of domestic and corporate surveillance gadget. As Ries (1) ascertains in the interactive movie on MVP, this will help in outlining the sensibility of the contextual product innovation under consideration.
10.0. Exit/Commitment Strategy
This is a business venture that calls for investors to come and contribute towards the production of the enhanced portable surveillance gadgets. On the same note, the process will constitute the upgrading of phones with new applications to incorporate the surveillance and alerts from the cameras in the premises. According to Kim et al. (106), the strategy to upgrade phone device will prove to be a crucial criterion for teh service exchange. Libich et al., (6), clearly outlines the necessity for the laid down strategies towards achieving the targeted goals. With increasing market volatility, customers are wary of their stakes in the business (Rawls, 1). Therefore with a number of ventures at ISS by private investors, the acquisition of their investment back will be ensured as once the installation of the product has been done, surveillance and maintenance fees will be paid continuously giving a regular income. Thus, their income will be consistent with regard to chosen investment venture and any eventual planning exit (commitment matters, 1).
11.0. Work Cited
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A Sample of an empathy map
Client segmentation is the process of separating a customer base into groups of people that are similar in characteristics that matter to marketing, such as age, gender, hobbies, purchasing patterns, and so on. Companies may more efficiently target groups and spend marketing resources by using segmentation. Traditional segmentation, according to Jill Griffin’s essay for Cisco Systems, focuses on defining client groups based on demographics and characteristics such as attitude and psychological profiles. Value-based segmentation, on the other hand, considers client groupings in terms of income generated and expenses associated with establishing and sustaining connections with them.
Customer segmentation procedures include determining what data will be collected and how it will be collected; collecting and integrating data from various sources; developing data analysis methods for segmentation; establishing effective communication about the segmentation among relevant business units (such as marketing and customer service), and implementing applications to effectively de-segment customers.