Posture Fit
Contacts of the Team
Executive Summary
The report presented her focuses on the launch of a new product that is developed with the aim to resolve issues of the customers. The ‘Posture Fit’ is the product whose launch plan is discussed in the report given below. Starting with the introduction the report discusses the definition of the innovation and then the innovative product ‘Posture Fit’ is added, along with the help it is going to provide to the people. The report discusses the design thinking tools used to come at the solution for the issue and the launch plan and communication plan is also added in the report. The resources that will be used to launch the product in the market and target customers is also added. The plans of the company in the long-term scenario is also added in the report. The recommendation and the time-frame decided for the launch is discussed to summarize the report in the end.
Contents
Executive Summary 2
Introduction 4
Innovation 5
Idea 5
Problem for whom 6
Target Market 7
Competitors 7
Design Thinking Tools 8
Launching the Posture Fit 8
Launch Plan 8
Communication Plan 9
Resources Plan 10
Human Resources 10
Intellectual Resources 10
Physical Resources 10
Financial Resources 11
Long-Term Plan 11
Recommendation 11
Gantt Chart 11
References 13
Table of Figures
Fig 1………………………………………………………………………………………………………………………………………………….4
Fig 2…………………………………………………………………………………………………………………………………………………6
Table of Tables
Table 1…………………………………………………………………………………………………………………………………………….8
Table 2……………………………………………………………………………………………………………………………………………12
Introduction
“Innovation leads to success”
Innovation is the process of changing an idea into a product or services that creates a demand amongst the consumer and gain revenue for the company. Successful innovation is considered to economical, useful, problem-solving, or satisfying a need. Every entrepreneur aims to find innovative idea and one certain idea will be presented in the given report. People are very focused about their health and for that they manage their diets, do exercises, and take various precautions, but still many face issues like Backache, Spondylitis, headache, etc. This happens especially with the people who have a 9-5 job in which they spend their maximum time sitting and working on the system. Sitting in a single posture give stress to the body and the adversely affect the overall health. The innovation plan presented here will solve this issue and help people to live a better life (Lee, Lin, Wong & Calantone, 2011).
Fig 1: – Issues people may have while sitting in the same posture for long
Source: – www.askdrmakkar.com/images/pain-cycle
Innovation
Idea
‘Posture Fit’ is a chair that will have sensors attached in the upholstery of the chair that will sense the movement and sitting posture of the person sitting. Running with the help of a microchip it will analyse the tension in the muscle of the human body and accordingly indicate the person regarding the movement and sitting posture. There will be a vibration felt by the person sitting that will indicate to that his body is getting tensioned and in need of some movement. It will also indicate that the posture in which the person is sitting is correct or not. There will be a LED indicator on the hand-rest of the chair that will have the setting to indicate the problem that Posture Fit has sensed and wanted to improve. The LED display will show the time the body has moved last, the graph will indicate the amount of tension body is feeling, and what the person sitting on it should do to release that tension. A mobile app will be downloaded in the mobile of the user will get the daily updates on correct sitting postures and how to live a fit life (Bhalla, 2013).
Fig 2: – ‘Posture Fit’ chair
Source: – www. itd2011.weblog.tudelft.nl
Problem for whom
The people working in the offices and other places where their major part of the day is spent sitting on a chair suffers from many adverse effects of wrong posture. Issue like spondylitis, backache, headache, depression, guarded posture, and muscle tension are some very common issues caused by sitting on a chair for long period of time, and it increase if a person takes-up wrong posture while working. In the long-run these small issues turn into major problems like arthritis, etc. Many companies purchase orthopaedic chairs for their employees to give them comfort while doing their job, but these chairs are uncomfortable to sit and do not make the person sit in a correct position. ‘Posture Fit’ will be the answer or all posture related problems and adverse effects it generates in the human body (Talke & Hultink, 2010).
Target Market
The main target market for selling ‘Posture Fit’ will be the organizations where maximum employee has a desk job. If employees will not feel their best and have health issues, then their work will also get affected and they will not be giving their 100 % to the company. The ultimate loss will be for the company as the day to day working will get affected and it will reflect in the revenue of the organization. Recent organizational culture has been observing a major change where employees are given time to recreate themselves through recreation practices and then work. This has shown some very effective outcomes in various companies. So, giving the employees a chair that will make them sit in a correct posture and indicate the need of relaxation will be a blessing in disguise for the employees and the company will be benefitted with the improved performance of the employees (Khasanov, 2016).
So, the main target market for the ‘Posture Fit’ includes: –
Banks
Software development companies
Architecture companies
Corporate companies
Training centers
Schools
Computer centers
People working from home and spending maximum time sitting, etc.
Competitors
Competition is part of any business an organization aims to conduct. The main competitors for ‘Posture Fit’ will be the companies who are already in the market and selling chairs of the similar categories. Like organizations selling orthopaedic chairs as they will be more easily available and at a lower cost, Company like TSS groups has launches Therapod seating solutions that aims at manufacturing right posture chairs. Another thing that can act as a competition can be the applications available online that can be downloaded on the mobile phone and by judging the body heat, height, and movement it will indicate that the person is sitting in right posture or not. People may use it as it will be less costly and hassle-free to use. Apart from the present competitors, it will not take time for other companies to copy the idea of ‘Posture Fit’ and come up with same product with minor changes. So, the competition is not very severe, but if future it may rise as the market for such chairs is limited in the present times due to the lack of knowledge of people about such things and need of sitting in right posture (Volkova & Jakobsone, 2016).
Design Thinking Tools
Design Thinking tool gives a creative approach while planning the innovation. The tools coming under this category helps in analysing the situation and verifies the outcome and benefits of the outcome as per the basis of research conducted. To find that whether the ‘posture Fit’ will gain the market in the Australian market various design thinking tools were applied on the innovation and the solution showed that the product will find success in the Australian furniture market. Some tools applied of the situation are as follows: –
(Please fill the design thinking tools attempted while preparing the presentation for the report.)
Launching the Posture Fit
Launch Plan
Table 1: – Launch Plan for Posture Fit
Date
Resources
Activity
Budget ($)
Aim
1st September
Various communication channels like Newspaper, Pamphlets, Emails, online media, website upgradation will be used
Media plan will be decided to create the awareness about the product in the targeted market
5,000
Creating awareness through a good communication plan will help the company to gain attention of the market and customer will come to know about the product and its unique features.
5th September
Location for the event, Display area for displaying the product, Projector, Laptop, Narrator, pamphlets, press release, etc.
Launch of the product will be done in an event. The invites will be given to architects, interior designers, bank managers, organizational personnel, press, and other targeted customers.
15,000
It will attract the customers and awareness of the product will be created.
6th September
Products will reach the market and showrooms will be displaying the product
Communication Plan
Communication plan helps in creating awareness about the product in the targeted market. Thus, it is very important to prepare an effective communication plan, especially when a new product is being launched in the market.
The communication plan for ‘Posture Fit’ will include the following: –
Message to be delivered- The message about the product’s availability and its unique features need to be communicated to the consumers. For ‘Posture Fit’ the message will include the unique features like LED screen, vibrators, mobile application, and indicators aiming for a better posture while working at job (Dobocan & Blebea, 2014).
Communication Channels- The communication channels need to be selected very sincerely to deliver the exact message to the targeted market of the product. The communication channels used for promoting the launch of ‘Posture Fit’ will include: –
Newspaper- The best channel for creating awareness about a product is newspaper as it covers a huge number of people and conveys the message clearly.
Social Media- Advertisement will be published on social media platform to attract the customers. Websites like, LinkedIN, Instagram, Facebook, Twitter, and Yelp will be used to advertise the ‘Posture Fit’
Pamphlets- Pamphlets and brochures will be printed and distributed in organizations like banks, corporate companies, schools, etc.
Website- the company’s website will have a dedicated page for ‘Posture Fit’ and the front page will have regular pop-up of the new product (Talke & Colarelli O’Connor, 2011).
Budget- The final budget for the whole communication process will cost around $ 5,000.
Resources Plan
The things required by the organization to fulfil its planning are known as the resources. Resources can be of different type physical, non-tangible, human, etc. The resources required to launch ‘Posture Fit’ in the Australian furniture market is as follows: –
Human Resources
People who will manage the event will be required
People to manage the invitees will be needed
People for displaying the product to the potential customers, press people and critics will be needed.
People will be needed to manage the technical department
Some volunteers will be needed to show the working of the ‘posture fit’
Feedback need to be taken from the potential customers and for that a person has to be appointed (Cornut, Giroux & Langley, 2012).
Intellectual Resources
IP address on which the company’s website will run and display the product launch and all related information of the product will be required by the organization before the product launch.
Software developer of the Posture Fit’s microchip will be needed to explain the theory and practicality behind the product’s initial thought.
Physical Resources
The product itself that is the ‘Posture Fit’ chairs need to be displayed to display its functions to the potential customers.
Things like, a stage, projector, laptop, pamphlets, press release, etc. will be needed.
Feedback form will be required to get filled by the potential customers for further association (Sköld & Karlsson, 2013).
Financial Resources
The company will be taking a loan from the bank to manage the financial needs of the whole project and the launch of the product will also be included in the project expenses.
Long-Term Plan
Every company aims to succeed in the project they have taken-up and plans certain parts that will be added to the current project in future. The long-term plan for ‘Posture Fit’ includes the growth of the market by targeting the international market for selling the product to companies established outside Australia. The company has the idea of getting into joint-venture with the company of the host country and share the margin of profit accordingly (Grant, 2010) .
Recommendation
The company launching a new product keeps a lot at stake and take all measures to make it a success. Here a new product ‘Posture Fit’ which is a chair that will help a person to correct his posture with the help of LED screen, vibrators, and mobile application is being launched. This chair will help people to fight the adverse effect caused by the wrong sitting posture and long-time same posture sitting (Ong, Wang & Zainon, 2016). The target market will be the organizations those have the basic work profile of sitting at a desk. Some recommendation for the ‘Posture Fit’ are as follows: –
Hospitals should also be targeted as there are doctor those can suggest the product to people suffering from issues related to wrong sitting posture. It will create the individual market for the product.
Government organization could also be targeted to sell the product.
Gantt Chart
With the help of the Gantt Chart the time frame for every activity will elaborated.
Table 2: – Gantt Chart
Activities
1 Sep
2 Sep
3 Sep
4 Sep
5 Sep
6 Sep
Advertisements
Web Page
Launch of the product
Product available in the market
Feedback
References
Bhalla, M. (2013). Waterfall Versus Sprinkler Product Launch Strategy: Influencing the Herd. The Journal Of Industrial Economics, 61(1), 138-165.
Cornut, F., Giroux, H., & Langley, A. (2012). The strategic plan as a genre. Discourse & Communication, 6(1), 21-54.
Dobocan, C., & Blebea, I. (2014). Application of the Optimal Control Problem in New Product Launching Process. Procedia Engineering, 69, 347-350.
Grant, M. (2010). Launch of the HILJ Strategic Plan 2010-2014. Health Information & Libraries Journal, 27(1), 1-1.
Khasanov, A. (2016). The evolution of new product launching theories. Business Strategies, (1), 6.
Lee, Y., Lin, B., Wong, Y., & Calantone, R. (2011). Understanding and Managing International Product Launch: A Comparison between Developed and Emerging Markets. Journal Of Product Innovation Management, 28(s1), 104-120.
Ong, H., Wang, C., & Zainon, N. (2016). Integrated Earned Value Gantt Chart (EV-Gantt) Tool for Project Portfolio Planning and Monitoring Optimization. Engineering Management Journal, 28(1), 39-53.
Sköld, M., & Karlsson, C. (2013). Stratifying the Development of Product Platforms: Requirements for Resources, Organization, and Management Styles. Journal Of Product Innovation Management, 30, 62-76.
Talke, K., & Colarelli O’Connor, G. (2011). Conveying Effective Message Content When Launching New Industrial Products. Journal Of Product Innovation Management, 28(6), 943-956.
Talke, K., & Hultink, E. (2010). Managing Diffusion Barriers When Launching New Products. Journal Of Product Innovation Management, 27(4), 537-553.
Volkova, T., & Jakobsone, I. (2016). Design thinking as a business tool to ensure continuous value generation. Intellectual Economics, 10(1), 63-69.
Сrеsко, & Slezko, V. (2012). To the questionon on the management of intellectual resources. Management Of The Personnel And Intellectual Resources In Russia, 1(1), 12-14.