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Analysis On Hexapod Robot Marketing Plan

Question

Task: As this is individual work students are the CEO (Chief Executive Officer). When prepare the detailed lean start-up development plan the individual student should cover functional aspects of the new venture that would be the responsibility of other members of the start-up team.

Answer

1. Introductionto Hexapod Robot marketing plan
The 'innovation' is needed in the business process because it will provide more efficiency into the production, product, and business ideas. It will also increase the viability of a product to potential customers. The main objective behind creating a start-up business is to increase the viability of the product and the 'business model' to provide 'value-based' product/service to the customer efficiently(Bortolini, et al., 2018). CEO plays an important and vital role in the 'fundamental' transform of business by executing a strategic and critical value-generation element for the customers. The management knowledge perceived by the CEO of a company provides an efficient 'sales' strategy and focuses on the promotional processes (Seo, et al., 2018). They plan according to an ‘innovative’ idea which is both impactful on the society and profitable for a ‘long-run’.

The 'lean' startup of creating and disseminating a new product with a particular value can face uncertain consequences. The 'business model' canvas is needed to be accurate and unbiased to avoid any challenge and specific areas (Felin, et al., 2019). The current assessment will discuss the business objectives, market value, business 'model', and a Hexapod Robot marketing planfor a new office sanitization product – "Hexapod Robot". The report on Hexapod Robot marketing plan will be described from a CEO perspective to analyze and explain the viability and beneficial aspect of the new sanitization device for offices. The target customer base for this product will be the USA and Australia at the initial stage. The target consumer will be from various 'private' and 'public' sector offices.

2. Business Objectives
The main business objective for the new office sanitization device "Hexapod Robot" is needed to be at the market soon. The main reason for developing this Hexapod Robot marketing planis to secure the sanitization process in the current "Covid-19" situation. It will work contactless and cleaning workers would not face any trouble in catching or spreading the virus easily. Sanitization is the most crucial in this pandemic situation. The ‘automation’ cleaning and sanitizing devices will clean the floors time-efficiently and reduce human efforts (Das, et al., 2019). The initial investment amount will be $2.5 million, including the manufacturing cost, worker's salary, packaging, and shipment ship. The devices will be priced at $200 - $350 according to the model and features. The estimated profit after a year will be $1 million. The management is targeted to sell the device at least 10,000 different organizations. The three-year revenue for the new sanitization device can be $308,000, $360,000, and $300,000 respectively. Total gain would be $20,000, $30,000 and $18,000 respectively in three years.

The increasing advancement in ‘IoT’ makes various industries and individuals to generate value-based ‘innovations’. The ‘agile’ process of inventing a unique product/service at the current market needs a proper ‘business model’ and entrepreneurship nature to create a new ‘industrial’ landscape with the existing knowledge (Baloutsos, et al., 2020). However, the actual business process has various consequences and risk factors. The technology has led the organizations to offer their employees to provide their inputs from their homes. However, it cannot be a permanent solution to enhance and progress business processes. It is important to take effective safety measures while initiating Hexapod Robot marketing plan and provide a healthy environment for the employees without risking the lives of the cleaning staff.

3. Customer ‘Value Proposition’ Canvas

Business Model in Hexapod Robot marketing plan

Fig 1: ‘Value Proposition’ Canvas for Office ‘Sanitization’ “Hexapod Robot”

The primary role of a 'value proposition' canvas is to help the business administrators about the customer's perspective, demand, and the requirement on the new product/service. The basic purpose of creating a 'value proposition' canvas for Hexapod Robot marketing plan is to understand the value of the new product and how it is filling those requirement gaps. The 'value proposition' helps in conceptualizing the marketing condition, especially in the current "Covid-19" pandemic to exploring beneficial marketing areas, such as 'digital' marketing and strategic 'supply-chain' process (Key, et al., 2020). The current assessment on Hexapod Robot marketing plan will assess both the 'value proposition' map in the administrator's perspective and 'customer profile' to understand their requirements and potential gaps.

• ‘Value Proposition’ Map

Element

Description

‘Gain’ Creator

In this process, the administrator or the product management showcases the new product and its beneficial aspects that are required to the consumers (Gierej, 2017). As mentioned in the Hexapod Robot marketing plan, the device will be extremely beneficial during the current “Covid-19” situation to clean the office areas effectively to provide a healthy germ-free environment. It will be also beneficial for the cleaning workers across the office sectors to conduct contactless sanitization.

Product/Services

The services description at the ‘value proposition’ map will provide a repetitive approach in a strategic way to mitigate existing difficulties and improve the process (Kundu, 2020). The “Hexapod Robot” is an ‘automated’ sanitization device provides effective cleaning with ‘UV’ light to clean any existing germs and virus from its roots. It provides features where the user can control it my remotes or set time to conduct the cleaning process conveniently.   

Pain Mitigation

The 'value proposition' design enables the 'manufacturing' firms to create and maintain a smart business 'model' to enhance the services (Neuhüttler, et al., 2017). In the current "Covid-19" situation, it demands to clean and sanitize the surfaces without any human contact. As per the Hexapod Robot marketing plan the sanitization device will clean the office surface with the 'UV' protection mechanism without any manual control.

• ‘Customer Profile’

Element

Description

Gains

The 'product-service' system (PSS) in formulating the 'business model' for a new product/service uses the 'value proposition' canvas to identify any problems or difficulties to mitigate during the actual process (Fernandes, et al., 2018). The new Hexapod Robot marketing plan will provide a clean surface with an electronic disinfecting process without any human contact. The 'UV' light function with a 'high-quality' sensor will allow the sanitizing "Hexapod Robot" to cover rough surfaces. It can be handled with remote control and a time-setting system.

Pains

Every ‘automated’ device needs constant supervision in sustaining its operation for a longer time. The office sanitizer “Hexapod Robot” also required to control by a skilled individual who can work as a mediator to supervise its cleaning process regularly. It also needs proper mechanical people to mitigate any operation related difficulties.

Customer ‘Job(s)’

The new Hexapod Robot marketing planprovides the ultimate 'automated' mechanism in cleaning the office areas with its advanced 'UV' light technology and flexible movement. The 'scientific' cleaning process will ensure the safety and healthy environment at the office.

4. Lean ‘Business Model’ Canvas

Business Model in Hexapod Robot marketing plan

Fig 2: ‘Business Model’ Canvas for Office ‘Sanitization’ “Hexapod Robot”
Alexander Osterwalder invented the famous ‘Business Model’ canvas to generate business objectives into several parts to understand the internal factors of an ‘innovative’ product/service. ‘Business Model’ canvas is considered as a tool to explore the ‘sustainable-oriented’ ‘innovation’ based on the ‘life-cycle’ of the new product. The ‘Business Model’ canvas for Hexapod Robot marketing plan showcases the nine different areas of starting a new product/service. The entrepreneurs are using the 'Business Model' canvas to enhance their 'self-efficiency' in managing these nine areas related to the new product, its customers, key factors, and revenue planning (Keane, et al., 2018). The ‘Business Model’ canvas (BMC) is a vital part of any start-up to analyze the existing dimensions to make the Hexapod Robot marketing planefficient.

The ‘Business Model’ canvas is consisting of nine elements – 'key' partners, activities, resources, 'value proposition', channels, 'customer' segment, relationship, 'cost' structure, and 'revenue' steam. The model will give a clear picture of how these nine elements linked with each other to sustain a start-up.

• ‘Key’ Partners
The 'key' partners of the "Hexapod Robot" office sanitizer are 'corporate', 'public', and 'private' sectors. Besides, the manufacturing and marketing process includes product engineers, scientists, investors, and product parts suppliers.

• ‘Key’ Activities
The main activities that the “Hexapod Robot” office sanitization device will involve is cleaning the office surface with ‘UV’ light to eliminate the virus effectively. It will also do the cleaning in the ‘automated’ process without any human contact.

• ‘Key’ Resources
The 'key' resources of the Hexapod Robot marketing plan are system engineers, researchers, product part suppliers, production maintenance and procedure space, 'inventory' system, investors, and supply dealers.

• ‘Value Proposition’
The 'automated' office sanitization device "Hexapod Robot" will provide its 'value proposition' factors to various 'private' and 'public' enterprises hailed from the USA and Australia. Those offices will receive a 'high-quality' sanitization device with no human contact requirement to restrict the "Covid-19" virus from spreading.

• Channels
The channels through which the customer will receive the new “Hexapod Robot” office sanitization device are the ‘e-commerce’ websites, ‘over-the-call’ order facility, and the ‘corporate’ and ‘private’ sector networks and partners.

• ‘Customer’ Segment
The initial launch of the office sanitization device "Hexapod Robot" will be for the customers from the USA and Australia.

• ‘Customer’ Relationship
"Hexapod" sanitization robot will save the effort and direct contact of the cleaning workers at the office places. It will give a healthy environment and save the cleaners from being vulnerable to catch the “Covid-19” virus.

• ‘Cost’ Structure
The initial investment for Hexapod Robot marketing planfor office sanitization will be $2.5 million. The investment is including of production process, engineers and workers remuneration, supplying materials, promotional and distribution costs. The first-year projected profit will be $1 million. The authority is aiming to distribute the device at least 10,000 offices across the USA and Australia.

• ‘Revenue’ Stream
The revenue generation will be retrieved from product sales, investors, and partners from various organizations.

5. Development Plan in Detail
5.1 Hexapod Robot marketing plan

The Hexapod Robot marketing planis a must for every "startup" as it defines the path of the startup. Marketing of the product through proper channels helps in increasing the reach of the product. The ‘lean’ set up for a new business will also help the management to keep agility and repetitive viability of the 'business model'. Proper planning to showcase the product helps in the growth of the company on the international market(Chernev, 2020). The “lean” startup should follow Hexapod Robot marketing plan described in the following steps: -

Factors

Description

Creation of customer value

As the startup is going to launch a technological product that will be used for sanitization(Hollensen, 2019). Thus, customer value needs to be created through channels to increase the sale of the product.

Test of market ideas

It is very difficult for the startup to execute the big Hexapod Robot marketing planand thus it needs to be segmented in parts(Hollensen, 2019). The focus should be clear and precise so that the goal can be achieved within a short time. Ideas must be modified according to the trend of the market.

Good listener of customers

Customers needs should have listened first and their demands need to be fulfilled by the startup(Hollensen, 2019). It will help to engage new customers in the company and increase their reach on the market.

Research on Market

Primary research on the market presents real business. As the product can be demanding on the market thus, it needs good projections for the future(Hollensen, 2019). Engaging new customers on the product will make it profitable for the startup.

Targeting audience

The audience must be targeted based on market research. It will help in engaging potential customers in the company.

5.2 Operational Plan
The operational plan for Hexapod Robot marketing planincludes the manufacturing process, maintaining the overall quality of the product. The service and quality of the product is very essential for the startup to improve in the future(Polum & Huang, 2019). “Hexapod” is a technological product that needs some specific manufacturing process and software configuration before launching in the market. The product will have a great demand in the market as per the current situation and thus, the startup can make plenty of profit through their product(Polum & Huang, 2019). The operational plan should include the points listed below: -

Factors

Description

Key activities and resources

The key activities and resources must be understood by the startup before launching the product in the market(Thomas, et al., 2018). The financial factors along with the physical factors related to the “Hexapod” must be analyzed first and then the investment capacity of the startup must be studied.

Liquidity

The "short-term debts" must be met according to the sale of the product(Thomas, et al., 2018). The demand in the market must be evaluated and then the liabilities and current assets must be cover by the Company.

Methods

The hardware and software resources must be met adequately so that the final product can meet customer demands(Thomas, et al., 2018). The supply chain process along with the inventory management must be handled by the experts to get positive feedback from the clients.

Validation by the Customers

It is the most significant factor states that product launched by the startup must get customer validation(Thomas, et al., 2018). The usage must be clearly explained in a demo form to increase the sale of the product.

5.3 Technical Solution and ‘Information Technology’ Plan
The product of the Startup is technological and thus it includes a broad IT plan. There will be an expert team that will handle all the operations and feedback of the customer on a particular product(Lee, et al., 2018). "Hexapod" will need maintenance that will help it to modify and upgrade itself. The “Hexapod Robot” will be an ideal sanitization device for office places in mitigating the spreading of “Covid-19”. Broad IT plan helps in mitigating the technical issues and provide relevant solutions on it(Lloyd, 2020). The Company must engage proper strategies to modify the company that will lead to the launch of new products related to "robotics"(Lee, et al., 2018). The Hexapod Robot marketing planshould include the following points. They are listed below: -

a. Design new products by studying the market demand so that the company can engage new customers on their system(Lloyd, 2020). It will help to add value to the company and increase the engagement on the international market.
b. Planning the strategies for increasing the value of the Company on the market by implementing innovative methods(Lloyd, 2020).
c. Developing new products by analyzing the market trends and the cost should be made cheap so that it can attract more customers.
d. Setting up a team to provide measures for technical problems and all-time service(Lloyd, 2020).

5.4 Human Resources and Organization Plan
"Human Resources" for Hexapod Robot marketing plan involves handling the employee management of the company along with maintaining the organizational performance(Kavanagh & Johnson, 2017). The startup needs to maintain organizational performance as it helps in the improvement of Company. The role of HRM includes from training session to appraisal for “performance” related to the “employee management”(Kavanagh & Johnson, 2017). The HRM looks upon the factors for Hexapod Robot marketing plan listed below: -
a. Workplace Policy- The policies need to be developed in such a way so that the goals can be met(Goodin & Davis-Ngatai, 2018). It should include the safety and security of the employees along with the Company’ developmental policy.
b. Staffing- The recruitment process in the company will be made by studying the demand(Goodin & Davis-Ngatai, 2018). The HRM must evaluate the demand of the staff on the company. The company make growth in the international market by the involvement of skilled employees on the organization.
c. Compensation and “benefits” for the employees- The employees get attracted to those companies that pay huge benefits to them(Goodin & Davis-Ngatai, 2018). Being a startup, adequate compensation must be given, for attracting skilled employees on the organization.

6. Potential Future Development
The initial development of the Hexapod Robot marketing planwill test its viability among various 'private' and 'public' sectors in sanitizing the office premises effectively with the help of 'UV' light and other scientific features. The 'automated' feature will help the offices to acquire a safe sanitization process without making or engaging any human contact. The engineers engaged in the development process are planning to incorporate the 'navigation' feature to the Hexapod Robot marketing plan that can automatically clean the surfaces at the office spaces by using an 'Omni-wheel' wheel (Yatmono, et al., 2019). It analyzes those different areas to understand the requirement and impact of the new product. The current device provides a remote control feature that can be optimized with a timer setting option. It is making at a beginner level to access by non-technical people easily.
In the future, the engineers are planning to develop the ‘sensor’ quality more diverse so that it can move according to sensing germs and uncleanedsurfaces to start the cleaning process automatically. The engineers are also planning to provide some other features, such as disinfecting the liquid spraying process while cleaning the surface, upgrade the 'UV' light intensity according to the sensor, and making other models according to various sizes of enterprises. The implementation of 'artificial intelligence' in the 'automation' devices enhances the mechanism efficiently (Zhang, et al., 2017). All the future development is dependable on the performance of the initial device and whether it will be succeeded in fulfilling the customer's demand.

7. Summary: Reasons behind Investing in this 'Lean' Start-up Hexapod Robot marketing plan
"Hexapod Robot" is the most efficient sanitization device at the office premises. The 'lean' startup becomes the most impactful 'innovative' entrepreneurship that mitigates uncertainty by conducting repetitive experimentation (Bocken and Snihur, 2019). The experimentation for this current device has arrived from the necessity of disinfecting the surroundings effectively to mitigate the fast-spreading of the "Covid-19" virus. The reason behind investing the current Hexapod Robot marketing plan isto provide an effective sanitization device during the current Covid-19 situation for contactless cleaning process at office place.On the other hand, it is needed for the corporate and public offices to get to their normal schedule to make impactful decisions in restricting the possible 'financial crisis' around the world. The 'automated' sanitization device will reduce the possibility of human contact during the cleaning process. It is also efficient for cleaning workers to not engage manually during the disinfection process.

The current assessment has been discussed from a CEO perspective that analyzed the market position of the new product, customer demand, and business plans. The two main components in the 'lean' startup search for the required product/service and execute it. The entrepreneurs need to identify the appropriate target consumers for the new product to assess their demand in making the process more valuable (York, 2018).It also provides information related to the customer's requirement that helps in creating a more efficient Hexapod Robot marketing planfor innovation. In the current assessment, the CEO perspective has analyzed the ‘customer profile’ from the ‘value proposition’ mapping. “Hexapod Robot” as an office sanitization device is required to provide a safer and healthy environment for the employees.

8. References
Baloutsos, S., Karagiannaki, A. & Mourtos, I., 2020. Business Model Generation for Industry 4.0: A “Lean Startup” Approach. Hexapod Robot marketing planThe International Technology Management Review.

Bocken, N. & Snihur, Y., 2019. Lean startup and the business model: Experimenting for novelty and impact. Long Range Planning, p. 101953.

Bortolini, R. F., Cortimiglia, M. N., Danilevicz, A. d. M. F. & Ghezzi, A., 2018. Lean Startup: a comprehensive historical review. Management Decision.

Chernev, A., 2020. The marketing plan handbook. s.l.:Cerebellum Press.

Das, N. R., Daga, R., Avte, S. & Mhatre, K., 2019. Robotic Automated Floor Cleaner.

Felin, T., Gambardella, A., Stern, S. & Zenger, T., 2019. Lean startup and the business model: Experimentation revisited. Forthcoming in Long Range Planning (Open Access).

Fernandes, S. d. C., Rosa, M., Queiroz, C. & Rozenfeld, H., 2018. An initial prototype of a tool for defining value proposition in the product-service system (PSS) design. s.l., s.n., pp. 281-292.

Gierej, S., 2017. Techniques for designing value propositions applicable to the concept of outcome-economy. Engineering Management in Production and Services, 9(1), pp. 56-63.

Goodin, T. & Davis-Ngatai, P. S. T., 2018. Implementing a human resource plan. Kings & Queens Journal, 1(1), pp. 11-17.

Hollensen, S., 2019. Marketing management: A relationship approach. s.l.:Pearson Education.

Kavanagh, M. J. & Johnson, R. D., 2017. Human resource information systems: Basics, applications, and future directions. s.l.:Sage Publications.

Keane, S. F., Cormican, K. T. & Sheahan, J. N., 2018. Comparing how entrepreneurs and managers represent the elements of the business model canvas.Hexapod Robot marketing planJournal of Business Venturing Insights, Volume 9, pp. 65-74.

Key, T. M. et al., 2020. Marketing’s theoretical and conceptual value proposition: opportunities to address marketing’s influence. AMS Review, pp. 1-17.

Kundu, V., 2020. Creating an Effective Customer Value Proposition Process.

Lee, M. et al., 2018. How to respond to the fourth industrial revolution, or the second information technology revolution? Dynamic new combinations between technology, market, and society through open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 4(3), p. 21.

Lloyd, I., 2020. Information technology law. s.l.:Oxford University Press.

Neuhüttler, J., Woyke, I. C. & Ganz, W., 2017. Applying value proposition design for developing smart service business models in manufacturing firms. s.l., Springer, pp. 103-114.

Polum, T. B. & Huang, J., 2019. Operational Plan: Estimation of Black Rockfish Sport Harvest in the Kodiak Area by Commercial District.

Seo, S. Y., Kim, S. D. & Lee, M.-S., 2018. The Effects of Knowledge Assets on the Performances of Startup Firms: Moderating Effects of Promotion Focus. The Journal of Asian Finance, Economics and Business (JAFEB), 5(4), pp. 187-199.

Thomas, R. S. et al., 2018. The US Federal Tox21 Program: A strategic and operational plan for continued leadership. Altex, 35(2), p. 163.

Yatmono, S., Khairudin, M., Pramono, H. S. & Asmara, A., 2019. Development of Intelligent Floor Cleaning Robot. s.l., IOP Publishing, p. 012014.

York, J. M., 2018. Putting lean startup into perspective: A novel approach for discovering and developing a successful business model. Arch Bus Adm Manag.

Zhang, T. et al., 2017. Current trends in the development of intelligent unmanned autonomous systems. Hexapod Robot marketing planFrontiers of information technology & electronic engineering, 18(1), pp. 68-85.

9. Appendix 1
Primary and Secondary Market Research on Hexapod Robot marketing plan
a. Market Size- The market size states that the product will get a high growth.
b. Market Growth- The demand will be high as per the current situation thus, the market growth will be high.
c. Customer Preferences- It has been acquired from 15 participants through questionnaires.
Question: Which type of product would you like for sanitization?
Answer: 10 participants- Automatic cleaning technique.
5 participants- Manual technique.
d. Segments- Data has been taken from the corporate sectors that want to install the automatic sanitization procedure.
e. Competitors- The competitors will be the companies that involve in developing latest technological products using “robotics”.
f. Key Partners- The owners of the corporate offices and the distributors of the sanitization tools suppliers.
g. Channels- E-commerce sites, offline delivery.
h. Technologies- hardware and software tools.
i. Job descriptions- Sanitizing the surfaces and offices to maintain hygiene in the building.
j. Labor Market Information- The information will be achieved from the various job portals as it will involve IT experts to maintain the product.?

10. Appendix 2

Revenue

       
 

Merchandise sale

                      2,58,000

 
 

Revenue from training

50,000

   
 

Total Revenue

                            3,08,000

         

Expenses

       
 

Procurement costs

1,30,000

   
 

Wages

7,000

   
 

Rent

51,000

   
 

Interest paid

7,500

   
 

Transportation

3,000

   
 

Utilities

1,500

   
 

Total expenses

2,00,000

         

Gains

       
 

Income from sale

20,000

   
 

Total Gain

20,000

 

Losses

       
 

Settlement cost for customer

8,000

   
 

Total Loss

8,000

 

Net income

 

2,13,350

 

Financial Plan for 2nd year

Revenue

       
 

Merchandise sale

             3,00,000

 
 

Revenue from training

60,000

   
 

Total Revenue

                                3,60,000

         

Expenses

       
 

Procurement costs

90,000

   
 

Wages

8,000

   
 

Rent

10,000

   
 

Interest paid

6,000

   
 

Transportation

4,000

   
 

Utilities

2,000

   
 

Total expenses

                                1,20,000

         

Gains

       
 

Income from sale

30,000

   
 

Total Gain

30,000

 

Losses

       
 

Raw material damage cost

10,000

   
 

Total Loss

10,000

 

Net income

 

2,60,000

 

Financial Plan for 3rd year

Revenue

         
 

Merchandise sale

                     2,50,000

   
 

Revenue from training

50,000

     
 

Total Revenue

                                   3,00,000

           

Expenses

         
 

Procurement costs

70,000

     
 

Wages

8,000

     
 

Rent

10,000

     
 

Interest paid

5,000

     
 

Transportation

3,000

     
 

Utilities

2,000

     
 

Total expenses

98,000

   
           

Gains

         
 

Income from sale

18,000

     
 

Total Gain

18,000

   

Losses

         
 

Late delivery settlement costs

5,000

     
 

Total Loss

5,000

   

Net income

 

2,15,000

   
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