top-rated free essay

Product devolpemt and design

By dheerajed3 Mar 26, 2014 699 Words
i-wallet
Group-4
Dheeraj E.D
Lavanya AB
Nithin PM

Product Deveolpment
Process

12/17/2013

Product Design and Development

2



Identify customer needs



Concept development



Product design



Testing



Marketing



Budgeting



Commercialization

Different Stages in i-wallet development
12/17/2013

Product Design and Development

3



Managing cash and card safely



One wallet to hold all the requirement



Difficulty to find wallet when lost



Could get money back in case of theft



Need to safely carry cash and mobile together

Need Identification
12/17/2013

Product Design and Development

4



Insecurity due to increased theft and robbery in cities ,towns and other places



Need for wallet which provides full security for money and plastic money in fast moving life.



Lot of young people are careless in busy life and forget to take wallet sometimes

Need Identification
12/17/2013

Product Design and Development

5



Wallet electronically enabled



Detect the finger print to open





Tracker: linked with mobile phone





Initially register the finger print
Checks the match and opens only if the finger print matches the registered finger print

If the phone and wallet move out of a distance of 500 meters it will generate signals in the mobile phone and warning alarm in the wallet
The signal generation is optional -it can be activated on our need

Transaction tracker: small chip inside the wallet


Will have option to store the last transaction amount

Features of the product
12/17/2013

Product Design and Development

6



Separate portion for money and cards.



GPS tracker: used to locate with the help of mobile phone when wallet is lost



When the wallet is being mishandled or if it signals denial of access three times, a message alert will be send to owner’s mobile and two other registered numbers



Reliability :
1 Year Guarantee, 2 year extended warranty for sensors, life long extendable warranty available subject to charges

Features of the product
12/17/2013

Product Design and Development

7



The wallet will have unique device id like IMEI in mobile phone which will help to track easily when lost.



Material: leather and light weight stainless steel with woven and laminated fibre



Weight:170 to 260 gms

Features of the product
12/17/2013

Product Design and Development

8

PRODUCT DESCRIPTION

Electronically enabled wallet with GPS tracker

BENEFIT PROPOSITION

Wallet with tracker that helps to track when it is lost and
authentication for use

PRIMARY MARKET

Corporate, professionals, entrepreneurs

STAKEHOLDERS

consumers, suppliers, retailers, distributors, sales force,
authorities

Business Statement
12/17/2013

Product Design and Development

9

SEGMENTING

TARGETING

POSITIONING

• Entrepreneurs,
professionals ,
Corporate executives

• working professionals,
Middle class and upper
middle class

• The next generation
wallet

STP Analysis
12/17/2013

Product Design and Development

10



People who continuously travel



People who are busy with their work schedule



People who do transactions frequently

Identification of Customers
12/17/2013

Product Design and Development

11

i- wallet Prototype
12/17/2013

Product Design and Development

12

i-wallet
12/17/2013

Product Design and Development

13

Computer Aided Design
12/17/2013

Product Design and Development

14

Nano Technology - Micro Chip
12/17/2013

Product Design and Development

15

i-wallet Fingerprint Detection System
12/17/2013

Product Design and Development

16

1
2

6

1.
2.

Cash holding area

5.

Folding jaw with USB

6.

5

Micro transmitter

4.

3

Battery (1000mah) and
internal accessories

3.

4

Card (6) holding portion

Automated sensor lock

i- wallet Prototype Features
12/17/2013

Product Design and Development

17

i- wallet Gallery
12/17/2013

Product Design and Development

18



Mobile Connectivity and Tracking
12/17/2013

Product Design and Development

Supported by mobile app and GPS
system



Identify using the unique device id
19

Durability of i-wallet
12/17/2013

Product Design and Development

20





Antitheft Mechanism
12/17/2013

Product Design and Development

Antitheft mode supported by
mobile app

User can switch on and off the
mode when required
21

Magazines/television
– Premium magazines
– Telecast ads during prime time
– Ads featuring the working of the product
Viral marketing
– One satisfied happy customer would
bring another customer

Distribution/availability
- Ensure that the product is available in
exclusive outlets and gadget shop
Live demonstrations
- Electronic outlets
Shopping malls In office campus

Marketing Stagey
12/17/2013

Product Design and Development

22



Prime Cost
– It consists of costs of direct material, direct labour and direct expense specifically attributable to the job. This is also known as flat, direct or basic cost.



Works Cost
– It comprises of prime cost and factory overheads, (cost of indirect material, indirect labour and indirect expenses related to factory works). This cost is also known as factory cost, production or manufacturing cost.

Cost Estimation
12/17/2013

Product Design and Development

23



Cost of Production (Office Cost)
– It is the sum total of works cost and office and administrative overheads

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