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Venture Lab 2012_Value Proposition
1. Avishkar
The Team:
Ankita Dhadavai
Deepak Pant
Nitish Raina
2. LED Lighting System
Our Objective:
Developing a low power consumption
lighting solution.
Design lighting solution with
aesthetic consideration.
To provide best customer support service.
3. Key Features
Value Propositions
Low power consumption lighting solution
Get ready to save 80% of your electricity.
LED lights use only fraction of the electricity compared to
a traditional light.
4. Key Features
Value Propositions
Long Product Life
LED lights last 25 times longer than a traditional light.
If you turned on an LED light today and left it on 24/7 it
would stay lit for approximately five years.
5. Key Features
Value Propositions
Design and Control
Compact size
Better aesthetics design
Control automation
6.
7. Market
The global LED lighting market is expected to grow from EUR 7 billion in 2010 to EUR 40
billion in 2016 . The LED lighting market will amount to almost EUR 65 billion ($94 billion)
by 2020, representing close to 60% of the total lighting market.
The significant differences in LED technology versus other lighting technologies will
lead to a fundamental disruption of the lighting industry along the entire value chain.
Standard lighting approaches are being challenged by entirely new possibilities
enabled by LEDs, such as design flexibility, or the ability to dynamically change the
colour temperature of light.
The controllability of LED-generated light enables intelligent lighting systems, and
McKinsey estimates that the revenue from control-system components will reach
EUR 7 billion in 2020.
8. Market
While the rate of LED penetration in residential lighting is slower than in other general-
lighting segments, the residential LED lighting market is likely to be worth over EUR 20
billion by 2020.
Architectural lighting has been an early adopter of LED lighting due to benefits such as
colour control, and is expected to see 85% LED penetration by 2020. Rapid growth in LED
penetration is also expected in hospitality-, shop- and outdoor-lighting applications.
However, the proliferation of cost-competitive linear-fluorescent lamps in office and
industrial lighting will mean that penetration of LEDs will be slower in these applications.
In Asia, North America and Europe, the current LED share of the general-lighting market
is similar, at around 7%, but in each case this is expected to grow to around 70% by
2020. LED penetration will be slightly higher in Europe and North America than in Asia.
9. Partnership
Will look forward for tie-up with the following companies and people to grow our business
Texas Instruments
OSRAM
Edison
Local Builders
10. Experiment and Survey
For Value Propositions
Market research via Survey Monkey the question covered the following:
Personal Information
Current Monthly Electricity bill
Current Lighting System used:
Which type of lighting system is used?
How important is Brand?
How important are the technical features?
How important is price of the product?
How much does packaging of product affect customer?
How important is aesthetic look or design of product?
11. Experiment and Survey
For Value Propositions
Result
1. 98% people use CFl or Tube light.
2. 43.5% people are moderately satisfied by current lighting system.
3. 36.4% people go into technical details of lighting product.
4. 27.3% people buy any option available at nearest store.
5. 63.6% people strongly want their lighting device to be more efficient (less
power consuming).
6. 64.2% people want long life of their lighting fixture.
7. 78.6% people buy fixtures from local market.
8. 71.4% people want spend a little more and buy more durable and low power
consuming option.
9. 28.6% willing spend on product that justify the price with durability, technical
features, eco friendly features and good look.
10. 85.7% willing to save energy by using improved but costlier technology?
12. Conclusion
As per the hypothesis carried out it has been observed that customer shows
willingness to buy LED solutions if they are proven to be less energy consuming and
there is better life of product.
However designer + control automation(intelligent) lighting system to be
target to different segment of customers.