Define on what your business intends to sell. The product/service may be free, but has to be something with international audience/consumers and generate revenue.
eHelmetz is a range of smart motorcycle helmets which is highly customizable according to user’s preferences. It is the right fitment for the Bikers who need more than just a helmet especially for Long distance riders, Moto Vloggers and Passion/Hobby Riders, Premium bike riders, and Cross country riders. eHelmetz is a range of biker helmets which is highly customized according to user’s preference. The product offers a high degree of safety and wide range of features to the users.
To use advertising, promotion and other forms of communication to persuade Indian and International consumers to demand the product, the Pull strategy will help in high brand loyalty and high involvement in the category, when consumers are able to perceive differences between brands.
This is a first of its kind helmet offering such a wide range of attributes which would be a delight for any new-age biker. Needless to say this will enable the brand to create a large and loyal consumer base due to the competitive pricing and the vast range of features which no other helmet currently offers. With the ever growing market of android smartphones and digital devices to make life easy for people, eHelmetz would surely capture the new age biker’s imagination and fancy. It will be the next sensation which everyone would die to lay their hands on. It would create a new chapter in the history of smart helmets.
This is a unique product which offers two tiered protection with Cushioning/padding and extra slim liners to absorb force of impacts and airbags that are deployed based on the pressure.
Anti-glare visor and detachable.
Easy washable cloth (high absorbent) lining to make inside cushion and riders hair last long from wetness like sweat or rainy conditions.
Product Quality Leadership – We aim to be the product quality leader in the market, we strive to be premium and safety product with high level of quality and status.
Our Market Survey suggested that consumers would buy 10000 units each month
We are charging a price that covers its cost of producing, distributing, and selling the eHelmetz.
Since there is tough competition in regular helmet market, we created break away positioning by creating a different ladder all together.
We base eHelmetz price basis our customers’ perceived value, which is made up of product performance, delivery channels, warranty, and esteem.
Define the business aspects well. What would be your primary and secondary source of revenue?
Business Aspects: In every business it is necessary to have a fabulous business plan. With this we can figure out profit, loss, investment, cost of production and other things that are necessary for a healthy business. We have to go through the plan very well before the final launch of our brand.
We need to decide if our brand will manufacture helmets for bikes, bicycles, skating or anything else. Since helmets are protective gears, one has to be very particular about quality and size. We need to do a lot of research before launch of any brand or product. The success or failure of any product or brand totally depends upon the customer. So, have to take timely feedbacks from the people who will use our product. Know about their likes and dislikes for the product. They are the best judge.
We will also undertake a detailed and rigorous testing phase where we will offer riders to use our helmet and test it. Based on these live tests, we would take a comprehensive feedback which will in turn enable us to improve the product and make any changes if necessary. We would do the test in the same way new pharmaceutical drugs are tested by giving placebos. Within the test group we would distribute eHelmetz to some randomly selected riders and the rest of the riders would get some of the other available products in the market without them knowing that they are actually not using eHelmetz. This will ensure that the test brings out only genuine results and will serve as an authentic source of feedback and critique.
Needs Trend Growth
Primary research shows that bikers need more than a helmet, with certain features that gives a seamless riding experience. Eg GPS, Bluetooth, and rear-view.
Nowadays, Helmet aficionados not only want helmets for law compliance and safety but also look for Comfort, Additional Safety, Convenience, and Customizable.
The two wheeler market is largest in India which is expecting a growth of 9-10 % in coming year. This will generate sufficient demand for helmets. The downside is, we may not have repetitive customers, as generation may move to 4 wheeler segment in next 5 to 8years.
We have identified 2 types of revenue sources,
Primary Source of Revenue
Basic – Used only for the sake of compliance and short rides, cheap in cost, no protection.
Commoner – Basic protections at normal speeds, ISI certified and Branded
Secondary Source of Revenue
A. Top End – Offers good protection, stylish, with selective features like sun shades, modular etc. good looks, costly.
B. Premium – All feature loaded, High end, for the Tech Savvy, people who are willing to pay more for features. Basically the Elite or the Premium Class people will more focused for marketing.
C. Mountain Rallies – We would sponsor quite a few mountain rallies across the country and give out our premium helmets to the winners. This will serve multiple purposes of revenue generation, brand building and recognition.