Device Designer Concept
Simran Persaud And Yoshita Sehjpal
OUR VISION How many times do you replace your phone, laptop or tablet? How many accessories do you buy to customize it ? Well now, there would be no need to buy new case or accessories to customize your device, because of the DD.
The DD or device designer is a new product which allows you to print, customized skins for your phone, tablet or laptop. You just have to get the special material, put in the measurements of your device, design the skin however you like and then press 'Print'. The printer will customize the skin especially for your device .
General description of product
(Investing in new acessories every time you upgrade/replace.)
Our product is the DD or Device Designer. This unique gadget customizes your device however you like and saves you a lot of money in the long run. When replacing phones, tablets or laptops, accessories are also bought along with them, which are used to design. This product helps designs your own accessory based on your device and its size, and does not require you to keep purchasing add-ons that will not be used again after your gadget has been replaced.
PROFIT VS. Non-profit • Based on our product and goals we consider our business to be for profit. This is because we plan to use our profits for our business’ financial benefit. Since this will be a new and upcoming project, we plan to use our profits to continue to grow and expand our business. •
Our hopes are that any profit that we do make, will be able to benefit ourselves and our business. Eventually down the line if we are finically able to become a nonprofit business it will definitely be something to consider.
Good or service
V.S We are producing a good for the tech community. This product is similar to a printer, but it supplies users with an accessory for their device. We plan to have manufacturers produce this product that we can then sell to an existing printer company.
Needs vs. want Our product is evidently a want for the consumers. We feel this way because the sole purpose of our product is to print out a variety of interesting patterns that can be used as a skin on many electronic devices. To some, electronic devices can be thought of as a need for work or school although some may disagree. Electronic skins are accessories for these daily used products. Consumers are given the opportunity to express themselves and display their hobbies and interests through this accessory. It is also a want because electronic devices can survive without them and it is not a requirement. Although, it is the idea of being able to decorate and give the devices a new look whenever the owner feels like.
Factors of production Nowadays, there are many people who look to start their own business or sell products and ideas to other companies for profit. However, it is not as easy as it looks, many things need to be taken into consideration such as the 5 factors of production. These factors include land, capital, labour, information and entrepreneurship.
We have decided that our business idea will be sold to an existing printer company, such as HP. This will benefit them and us, both because of the share of costs and stable base. Given that, we will not be creating our own industry, only 2 of the 5 factors will be used, which will be capital and information. Taking into consideration capital, our business has a certain amount of money that will be put into making the idea a reality. The information factor will be used when attaining information on the buzz and want for our product.
Supply And Demand Price
Quantity Demanded
Quantity Supplied
250
$150
400,000
100,000
$160
350,000
200,000
$170
300,000
300,000
$180
250,000
400,000
$190
200,000
500,000
100
$200
150,000
600,000
50
$210
100,000
700,000
$220
50,000
800,000
$230
25,000
900,000
200 150
0
Quantity Demanded Quantity Supplied
0 1 2 3 4 5 6 7 8 9 10
Supply and Demand Data- After plotting a sample graph for our business idea we found that our equilibrium point is at $170.
Business cycle The business world is never stable. There could be 'good' economic times or 'bad' economic times and in each situation a business is affected.
There are 5 stages in the business cycle, prosperity (Refers to good economic times), inflation (refers to a rise in the price of a specific good or service), recession (refers to when business and profits slow down, depression (occurs when economic activity is very low and unemployment is very high)and recovery (occurs when the economy starts to recover from a economic downturn.) It is not necessary for a business to undergo all the stages however they should be prepared for each.
Business cycle: continued If our company were to undergo prosperity, then the economy would be progressing well and business for us would be high, increasing the income a good amount. Inflation could also occur at anytime, during this period we would increase the price of our products because of the sudden demand for it, thinking that more profit would be sustained, but consumers may react to the change negatively.
If a recession were to occur, then the economy would slow down and consumers would be trying to save money only spending on necessities and limited wants, which would not be prosperous for our business as the profit would lower. Depression for the economy is extreme but probable. Through this phase chance of bankruptcy, laying off employees and a great loss of money is highly possible for our business, since the economy would not be thriving and we do not provide a necessity of life. Finally, in the course of recovery, the economy would slowly begin to improve, helping our business as well. Consumers would be able to start spending wisely on their wants and help our business get back on our feet.
Business success We believe that our business will be a success because of the state of technology we are in at this point. Every few months a new product or application is being introduced to global consumers. Technology has reached new heights and will continue to thrive as long as the demand is there. Since our product provides consumers with the ability to creatively design their tablets, laptops and phones there may never be a shortage of demand. The need for these devices will most likely only increase as time goes on. With this product much like modern technology it isn’t permanent.
Consumer will be satisfied because they can change the skin of any of their electronic devices whenever they feel like it. Even if there is a new model or design of their device they can customize their skin to size. Therefore there is no need to invest in new cases every time there is an update. Our product is also able to suit both genders and practically any age that is interested in a unique design for their device. It is also very easy to operate because of its touch screen features. This allows the user to select a design and size that they would like for their device. Just like a regular printer it will print out the design that is ready to apply to any electronic device. Hopefully with these features our business will be a success when our product hits the market.
To wrap up! • In conclusion our skin printer will be able to meet all the needs of any electronic user. It provides trendy skins that can really bring the consumer devices to life. Each skin can have a customized colour and design which may satisfy many people because of the increases in technology over the last couple of years. It is affordable and convenient and will be able to save money down the line. Our goals and ideas are set in place and we are confident that our product will be extremely beneficial to all those who invest in it.