Final Report of Business Idea Competition

1. SMART HELMET
[Your Safety, Our Priority]

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TABLE OF CONTENTS
INTRODUCTIONERROR! BOOKMARK NOT DEFINED.
1. PROBLEM STATEMENTERROR! BOOKMARK NOT DEFINED.
2. SOLUTION.. ERROR! BOOKMARK NOT DEFINED.
3OPERATIONAL PLANERROR! BOOKMARK NOT DEFINED.
4.BUSINESS PLANERROR! BOOKMARK NOT DEFINED.
5.MARKETING PLANERROR! BOOKMARK NOT DEFINED.
6. COSTING .... ERROR! BOOKMARK NOT DEFINED.
7. SOURCE OF FUNDINGERROR! BOOKMARK NOT DEFINED.

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PROBLEM STATEMENT
The traffic authorities recorded 45094 accidents in Lahore average 6 deaths, 906 injuries every
week. In which 20158 are bike related accidents which is 55% of total road crashes which total
51% only in Lahore not only due to rash driving which total 51% only in Lahore due to rash
driving behaviors but because of help arriving late as well. According to WHO report, every year
2.69% of population due to road accident due to help arriving late more than 50% of reported
accident involves motor bike. According to Pakistan Bureau Statistics. After China and India,
Pakistan is the fifth largest motorcycle market. By the source of dawn news, Over 25000 road
accidents have been reported since last four months whereas 16000 are bike riders only. Aside
from 2018, in 2015-16 a total of 9,100 traffic accidents occurred in Pakistan, and 4,448 people
were killed in these tragic accidents. Most of the people who died in these accidents fall below
the 30 age. 4,287 traffic accidents occurred in KPK and 1,299 people died in those accidents. The
Rescue 1122 on Tuesday claimed to have responded to 132,331 emergencies related to bike
accidents, 61 percent of them involving the youth, across Punjab during year 2011. Moreover,
bikes were involved in 55 percent, the major causes of the accidents included over-speeding 35
percent, late arrival for help, careless driving 34 percent and wrong turns 14 percent. Similarly,
minor injuries 60 percent, fractured bones 27 percent, head injuries 11 percent and spinal injuries
2 percent, were the major injury outcomes of these collisions.

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SOLUTION
SMART HELMET, WITH THREE LIFE SAVING FEATURES

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SOLUTION
DESCRIPTION
An innovative helmet, with artificial intelligence, GPS system, push button along with a sim
slot managed by a battery. These three life saving features, or a high tech helmet bridges
the gap between injured and loved ones, rescue workers and police by linking GPS with
artificial intelligence that will trigger response by touch button if conscious otherwise in 30
seconds will allow automatic response for help.
Artificial Intelligence,a sensor that tracks and
monitors risky road behaviors, a push button in
case helmet didn’t hit the road, or by the use of
touch or voice to alert. It is defined as a real
time network on road conditions
that promotes safety.
Intelligent AccidentDetection System,use of GPS that
detects the accident where it occurred, a message
will sent to nearby ambulance, a route neat will be
shown to the ambulance driver to the
place of accident, will also inform 1122, hospital
and nearest contacts via phone call/ text message.

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OPERATIONAL PLAN
MECHANISM
The features mentioned above will work under a mechanism.
“Suppose that a person has been hit one the road, now if he is conscious enough to press
the push button for help, help can arrive. Otherwise within 30 seconds the system will
automatically work by alerting people for help. Artificial intelligence will sensor the
accident dynamics and speed analysis and the GPS system will detect the location of
accident along with the longitude and latitude and will alert the rescue workers, police and
loved ones. A sim slot will be used for global positioning system and a battery will be used
to manage the working system.”

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BUSINESS PLAN
As entrepreneurs, we suffer from a strange (or even crazy) kind of confidence that can be
incredibly condemning. The purpose of the Business Model Canvas is to provide a flexible
medium for developing a strategy to begin a small business. This requires the input of your
customers and partners more than your own thoughts and opinions. The Business Model
Canvas closely mirrors a scientific approach to starting a business. It begins by identifying
a problem, say, you need to make money. Solving the problem will be kind of a guess-and-
check; you’ll make hypotheses along the way about what you think will solve each
problem. Then, of course, you’ll need to run the experiment, which Steve Blank
advocates as getting out of the building! Most of your experiments will be simply
interviewing your potential market or calling suppliers, and as you do this the feedback will
alter or confirm your initial hypotheses. When designing your business you’ll frequently
use this information to pivot, or redirect, your initial hypotheses. Using this method will
allow you to make proven conclusions about who, what, when, where, how and why your
business will be successful.

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Key Partners:
It is the relationship that one has with businesses, governmental, and non-consumer
entities that will help business model work. It is the relationship that company has with
manufacturers, suppliers and business partners. It sometimes include that undoubted
partnership that a company has in areas where it performs inefficiently.
Key partners for our business idea involves, helmet manufacturers, IT skills from
suppliers called as Techno solo, and distributors that are.
Key Activities:
Key Activities that develop with your businesses involves questions like, what key activities
do our business require, what key activities do our channels require, and what key activities
does our customer relationship require.
Key activities for our business are, research and development of design, technology
development that includes GPS and Artificial Intelligence, Marketing of Helmet that
includes advertisement, billboards and social ads.

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Key Resources:
It includes describes the most important assets required to make a business model work.
These are the resources that allow an enterprise to create and offer a value proposition,
reach markets, maintain relationships with Customer Segments, and earn revenues.
Our business requires key resources that includes, human capital i.e. creativity and
experience requires for the making of helmet, intellectual property i.e. partnership,
brand, proprietorship knowledge and financial resource that includes cash and stock for
helmet manufacturer.

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Value proposition:
“Providing bikers with a helmet that ensures their safety by
combining artificial intelligence (AI) with global positioning
system (GPS) along with sim slot and push button manages by a
battery power.”
This building block of business model canvas includes the bundle of product that creates
value for a specific customer segments i.e. Bikers of Lahore. Our value proposition is
developed on the basis of customer segment and is developed continuously over a period
of time.
Revenue source:
Increase Customer Base:
Getting more customers will always increase current revenue. In many cases, small
businesses have already achieved the highest revenue limits from existing customer’s
base, and this is the sign that they will need more customers if they want to continue with
the growth. The best possible solution is to focus on getting new customers that will

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increase current customer’s base. Improve ongoing marketing efforts to reach much
more potential customers for products and services, and create new revenue streams for
company.
Ask customers what they like:
By using fresh new ideas we can create new revenue streams for our small business quickly,
we use current customer’s feedback to examine what they would like and want from our
company in the future. When we know what they want from us, we can simply build it and
ship it to them. If we create and ship what they want, we will increase the revenue for our
company. Asking our customers and listening to them about what they want and what
they need will help us to increase the probability of success for our newly created revenue
streams.
Selling online:
Local success will tell us that we can quickly expand our business in other places similar to
the basic one where we have started our company. Selling at the national level will
generate more revenue than selling locally, and selling at the global level will generate
more revenue than selling nationally. With the availability of today’s technology and the
possibilities that enable us to create e-commerce website without spending a fortune
quickly, we can instantly transform our business from local to national and from national to
global.
Create additional services:

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New services will create additional revenue sources that will generate extra income for
small business. We add additional services to current offer, we will add something that will
be related to our current offer and will be valuable for our existing customers as an
addition to our current business relations with them. In such a way, we will ensure that new
products and services will quickly become something that will generate more revenue for
our company.
Sales:
We earn revenue by selling our product so sales is a source for generating revenue. Income
receives by selling product is termed as sales revenue.
Channels:
A distribution channel is a chain of businesses or intermediaries through which a good or
service passes until it reaches the final buyer or the end consumer.
Shop:

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A direct channel allows the consumer to make purchases from the manufacturer which
allow customer to get product from shop.
Retailer:
An indirect channel allows the consumer to buy the good from a wholesaler or retailer.
Another channel is retailer where the producer sells directly to a retailer who sells the
product to the end consumer.
Online selling:
Another channel is direct-to-consumer model where the producer sells its product directly
to the end consumer, which uses its own platform to sell Kindles to its customers, is a direct
model. This is the shortest distribution channel possible, cutting out both the wholesaler
and the retailer.
Customer relationship:
Customer-relationship management (CRM) is an approach to manage a company's
interaction with current and potential customers.

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We build our relationship with customer through:
Promotions:
We offer 10% off on our product for sales promotion of our product and build customer
relationship by giving 10% off on product.
Database:
We uses data analysis about customers' history with a company to improve business
relationships with customers, specifically focusing on customer retention and ultimately
driving sales growth.

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MARKETING PLAN
A marketing plan outlines the specific actions you intend to carry out to interest potential
customers and clients in your product and/or service and persuade them to buy the
product and/or services you offer.
The marketing plan implements your marketing strategy. Or, "the marketing strategy
provides the goals for your marketing plans. It tells you where you want to go from here.
The plan is the specific roadmap that's going to get you there. "A marketing plan may
be developed as a standalone document or as part of a business plan. Either way, it is a
blueprint for communicating the value of your products and/or services to your
customers.

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PRODUCT
Global Positioning System, also known as a GPS, uses the Global Navigation
Satellite System (GNSS) network. With the use of microwave signals, it connects
with 24 satellites and their ground stations to provide locations. The GPS tracking
system inside helmet will provide exact location and can track movement, which
means you can use the system to track the routes or monitor progress.
Artificial intelligence (AI) is the simulation of human intelligence processes by
machines. These processes include (the acquisition of information and rules for
using the information) ,built in.
A sensor will detects and responds to type of input from the physical environment.
The specific input will be a combination of motion and pressure exerted during the
accident, then it will forward the output to the artificial intelligence for further
processing.
SIM card will be embedded in the helmet to activate the connection and to
communicate and for making links with the artificial intelligence to provide the
accident details to the registered contacts. It is the Subscriber Identity Module that
contains the integrated circuit to store the International Mobile Subscriber Identity
or IMSI and the keys to identify and authenticate the subscribers on the
communication system.
In the construction the purpose of the battery will be to give the circuit a source of
energy and makes the working of the smart embedded system possible.

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PLACE
Our product will be placed at following places in Lahore:
 Showrooms of the racing bikes
 Exclusive showrooms for the sale of helmets.
 Online availability through website.
 Tie-up with stadiums where bike racing is conducted to boost the sale of our
product
 Various distribution channels in Lahore (DHA, Gulberg, cant, model town etc)
 Main store at saanda road.

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Pricing at a Premium
With premium pricing, businesses set costs higher than their competitors. Premium pricing
is often most effective in the early days of a product’s life cycle, and ideal for small
businesses that sell unique goods. Because customers need to perceive products as being
worth the higher price tag, a business must work hard to create a value perception. Along
with creating a high-quality product, owners should ensure their marketing efforts, the
product’s packaging and the store’s décor all combine to support the premium price.
Pricing for Market Penetration
Penetration strategies aim to attract buyers by offering lower prices on goods and services.
While many new companies use this technique to draw attention away from their
competition, penetration pricing does tend to result in an initial loss of income for the
business. Over time, however, the increase in awareness can drive profits and help small
businesses to stand out from the crowd. In the long run, after sufficiently penetrating a
market, companies often wind up raising their prices to better reflect the state of their
position within the market.
Economy Pricing
Used by a wide range of businesses including generic food suppliers and discount retailers,
economy pricing aims to attract the most price-conscious of consumers. With this strategy,
businesses minimize the costs associated with marketing and production in order to keep
product prices down. As a result, customers can purchase the products they need without
frills. While economy pricing is incredibly effective for large companies like Wal-Mart and

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Target, the technique can be dangerous for small businesses. Because small businesses
lack the sales volume of larger companies, they may struggle to generate a sufficient profit
when prices are too low. Still, selectively tailoring discounts to your most loyal customers
can be a great way to guarantee their patronage for years to come.
Price Skimming
Designed to help businesses maximize sales on new products and services, price skimming
involves setting rates high during the introductory phase. The company then lowers prices
gradually as competitor goods appear on the market. One of the benefits of price
skimming is that it allows businesses to maximize profits on early adopters before
dropping prices to attract more price-sensitive consumers. Not only does price skimming
help a small business recoup its development costs, but it also creates an illusion of quality
and exclusivity when your item is first introduced to the marketplace.
Psychology Pricing
With the economy still limping back to full health, price remains a major concern for
American consumers. Psychology pricing refers to techniques that marketers use to
encourage customers to respond on emotional levels rather than logical ones.
Bundle Pricing
With bundle pricing, small businesses sell multiple products for a lower rate than
consumers would face if they purchased each item individually. Not only is bundling goods
an effective way of moving unsold items that are taking up space in your facility, but it can
also increase the value perception in the eyes of your customers, since you’re essentially

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giving them something for free. Bundle pricing is more effective for companies that sell
complimentary products. For example, a restaurant can take advantage of bundle pricing
by including dessert with every entrée sold on a particular day of the week. Small
businesses should keep in mind that the profits they earn on the higher-value items must
make up for the losses they take on the lower-value product.

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Coupons
Money off coupons have long been and remain the most commonly used form of price
promotion. The coupon will be offered to consumers through newspapers/magazines,
the Internet or via email. By offering the discount in this format, the company only
provides the discount to customers who produce the coupon. When customers come
into a shop without a coupon they don't get the deal. Coupons are another way to
introduce loyalty to a brand at its early stages.
Point on Sale Discount
This is the simplest type of price promotion method. A shop will simply advertise an
amount-off or percentage-off point-of-sale discount. Once a discount has been
decided upon, employees change the product barcode price and/or the price tags -
and probably signage throughout the store. The point is to convey better value
because of the lowered price. Companies often promote an in-store discount through
email or newspaper inserts, as well as posters in shop windows. In some cases, the deals
are offered as a surprise in-store special to encourage more spending.

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Loyalty Schemes
Rewards are offered for being a part of the scheme and the more the customer spends
the more points they accumulate, which leads to greater rewards. Sometimes the
reward scheme is customized to the individual customer, e.g. SPARKS at M&S, with
offers on goods and services which that customer is most likely to want, need or
purchase. Tiered loyalty schemes work best for high commitment, higher price-point
businesses like airlines, hospitality or insurance companies.
Trade Promotions
What about the B2B market? Well, it should come as no surprise that price promotions
are also offered here. Businesses that buy for consumption receive similar incentives to

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consumers. Trade buyers that purchase products from suppliers for resale receive
several distinct price promotions. Percentage off promotions are offered on a given
order and bulk buys are a common trade market incentive. Companies that order larger
quantities get volume deals, such as 10 to 20% on a certain minimum order size.

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COSTING

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SOURCE OF FUNDING
Source of funding in our start-up business is personal investment.
Personal Investment
When starting a business, first investor should be the person who started business- either
with own cash or with collateral assets. This proves to investors that the owner have long
term commitment to project and ready to take risks.
In our business of helmet five partners of business done equal investment of Rs.10,00,000
which is our source of funding.

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BUSINESS REPORT SUBMITTED BY:-
MUDASEERA MUHAMMAD- 3335
MARIAM AMJAD-3330
SAIRA RUSTUM-3351
ALTAF IQBAL-3309
SARMAD MURTAZA-3352
SUFYAN JAMIL-3356
AAMIR NISAR-3310
SHUNAID JAMSHAID-3355
MARYAM TARIQ-3331
DEPARTMENT: MANAGMENT SCIENCES
BUSINESS ADMINISTRATION (6TH SEMESTER)