Feasibility Study Gesture Technology †MyAssignmenthelp.com

Question: Discuss about the Feasibility Study Gesture Technology. Answer: Minimum viable product Gesture recognition technology allows computers to identify gestures that are made by human beings. The information conveyed by the gestures is then interpreted such that it can be understood by everyone around. Gestures were the very first mode of communication before the development of speech (Yang Ahuja, 2012, p. 22). All effort should, therefore, be made to ensure that the mode of communication is promoted among people. That would further ensure that the history of gesture mode of communication is conserved. Recent research on gesture technology has discovered that gesture conversation would be greatly enriched should there be an integration of human-computer interaction (Roebuck, 2011, p. 18). The gesture technology would be developed with all the features that customers would expect. Customers opinions would be collected and incorporated into the development of the products before they are finally released into the market. The feedback from the initial users of the product would also be considered in the development of later versions of the product. Our team of specialists in charge of the development of the gesture technology would work tirelessly hard to fulfill the following condition; They would ensure that the value of the products would be worth the money that people would use to buy them Improvements would be done to further improve the efficiency of the product such that early adopters of the product would still be maintained as customers A feedback loop would be provided so as to provide guidance in the future development of the product. The move would ensure that only products that are needed by customers are developed. Customer segments There is a huge market opportunity for the product in Australia and in other parts of the world. There are very many people who are visually impaired. Such people are likely to benefit from the technology in a great way. People who have visual impairment use sign language as the mode of communication. The language uses gesture motions to relay information. However, people have to learn the language so that they can become conversant with it in the first case. Gesture technology would make things even much easier since it would provide an interface for carrying out the interpretation of the language. Everyone would hence be willing to embrace the technology (Roebuck, 2011, p. 29). In addition, there are several applications and software that uses artificial neural networks (Yang Ahuja, 2012, p. 37). Thats actually the technology behind the gesture. Gesture technology would hence not be a strange and new to its users. There are also some sectors that greatly require devices that can effectively interpret gestures. The field of medical technology, photojournalism and biometrics have made efforts in the past to come up with ways of interpreting gestures. However, they have not been that successful. Individuals who work in the three fields would warmly welcome the gesture technology once its put in place. The product would hence benefit from the huge market that is presented by the sectors. Key partners Apart from providing a market for our products, the department of biometrics, photojournalism and medical technology would also be our key partners during the development and promotion of the technology. The development of the technology requires that one must have a good understanding of neuron behaviour. Such behaviours can best be explained by medical and biometric specialists. The medical and biometric specialists would also play a very integral part in defending the product in the face of government urgencies in charge of regulation of such devices. There would also be a partnership deal with photojournalists. The journalists would need to effectively collect information regarding the product. They would then relay the information to the rest of the world. The success of any marketing strategy that we intend to use would be influenced by the partnership that we would have with photojournalists. The journalists would be able to pass information regarding the benefits of the technology to the public. They would hence greatly contribute in the marketing of the product. In addition, we also look forward into entering into partnership deals with computer technology experts such as Microsoft and other computer engineering firms. Such firms would provide us with computer hardware and software programs necessary to the development of the technology. Value propositions Value proposition would determine the extent to which people would be interested in seeking more information regarding the product that we intend to unveil. The product would only be successful if we get our value proposition right. The value proposition would provide the promise of value that we intend to deliver by providing the products to the public for use. In providing the value proposition, we would provide an explanation on how the gesture technology would go a long way in solving a series of problems that people are faced with (Ulrich Brockbank, 2005, pp. 2-3). It would also explain how the gesture technology would improve the situation of the customers. The product would only be relevant in the market if it as the capacity to solve some of the problems those customers are faced with. In addition, the value proposition would deliver quantified value to the people who are our target customers (Osterwalder, et al., 2015, p. 6). The benefits would be very specific. There is a high likelihood that we would have competitors the very moment that the product would be availed into the market. The value proposition must, therefore, be designed such that it must provide an explanation to the customers as to why they should only seek for our products and not products from our competitors. In producing the devices, we must go a long way in ensuring that quality is guaranteed. It is the quality that would provide the unique differentiation between our products and that of our competitors. The value proposition would be available on all our advertisements of the products and marketing campaigns (Barnes, et al., 2009, p. 21). It would also be the very first thing that customers would see whenever they visit our home page. In addition, the value proposition would be expressed in a simple language such that it would be understood by all the visitors to all our marketing sites. Channels and customer relationship Customer relationship managementis very necessary and would enable us to manage the relationship that we would have with our customers (Sugandhi, 2003, p. 20). The best way of facilitating customer relationship is through the development of methodologies, internet capacities, software and internal operations that would address the needs of customers in a better way. We intend to upscale the relationship that we would have with our customers and ensure that the relationship is a profitable one. There would be a customer relationship management system that would be tasked with the responsibility of tracking important customer details such as their contacts, accounts, preferences, and purchases. Such information is very important in ensuring that we would be able to monitor and identify the needs of the customers. Customer relationship management would help in identification of best customers. The information would also help in reduction of consumer response time. In addition, it would help in enriching the manner in which communication with customers would be made. Key activities and key resources In order to successfully market the products to customers, a number of strategies must be put in place. There would be campaign strategies aimed at marketing the gesture technology devices. There would be road shows, posters, and billboards displaying the products. The products display would be accompanied by information explaining the reason why customers should purchase them other than purchasing those other products that are supplied by the competitors. All these activities require a substantial amount of financial resources. The key financial resources would be loans from financial institutions. Some money would also be sourced from well-wishers. Cost structure Category Sub-category Cost/Price (USD) Material Raw material 3,000 Purchased parts and materials 5,000 Manufacturing Labour 900 Depreciation 2,500 Energy 1,780 Maintenance 1,350 Overhead Manufacturing 2,200 RD 750 Others Others 985 Revenue stream Revenue stream Revenue that would be collected from subscriptions from the products Affiliate Fees Revenue collected from the sale of gesture technology gadgets Revenue collected from people who would visit the firms manufacturing plan to learn about the manufacturing process Value preposition canvas expressed in canvas visual format Customer profile Customer Needs Share files with other members of the team Making it possible to chat with several customers at the same time Communicating the business ideas so that everyone in the market can observe Gains Difficulty in keeping track of customers prolonged emails Unavailability of opportunities to comment on Pains Development of positive perception Embracing all customers to the extent that they would feel as part of the team 2.Products Products Experience Gesture technology with one major functionality Improving the lives of customers Benefit Little or generally no training required Easy adaptation to the use of the devices Little effort is required in the operation of the technology Features Capability of storing many messages Ability to share images and messages Creation of channels for use by different departments during communication Value proposition provides the extent to which customers would be able to seek product information (Murray, 2016, pp. 5-6). The product supplier must, therefore, make an effort of ensuring that information regarding the product is easily accessible to all the visitors and customers. The customer profile is closely related to value proposition since it focuses on the needs and gains that the customers should have access to. Initial financial estimates They include; Initial market segment estimate The initial market segment estimate is about 100,000 people. These are people who already have information regarding the gesture technology. Out of the population, there is a huge number of people who are eagerly waiting for the gesture technology devices. They have got information regarding the benefits of the technology. Initial 1-3 year revenue estimate The revenue estimate within the first three years would be about US$ 40,000. However, that value is expected to rise. Many people would not have learned the benefits of the technology within that period of time. There are people who will still be having mixed reactions during the period. Such mixed views are expected to have a negative impact on the sales of the devices and revenue as well. Initial 1-3 profit and loss estimates Losses are not expected over the period since enough marketing campaigns would have been carried out during the period. However, the profits would be very minimal. Most of the revenue would be channeled towards marketing strategies Estimated initial funding The initial funding would be considerably high. Close to US$ 85,000 would be required to facilitate the initial budget Initial additional required resources There would be a requirement of about US$ 10,000. The money would be used to sort out emerging issues References Barnes, C., Blake, H. Pinder, D., 2009. Creating and Delivering Your Value Proposition: Managing Customer Experience for Profit. 1 ed. London, UK: Kogan Page Publishers. Bruce, P., 2014. 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Gesture Recognition: High-Impact Emerging Technology - What You Need to Know: Definitions, Adoptions, Impact, Benefits, Maturity, Vendors. s.l.:Lightning Source. Saha, S. Konar, A., 2017. Gesture Recognition: Principles, Techniques, and Applications. 1 ed. Chicago: Springer. Sugandhi, R. K., 2003. Customer Relationship Management. s.l.:New Age International. Ulrich, D. Brockbank, W., 2005. The HR Value Proposition. Chicago: Harvard Business Press. Yang, M.-H. Ahuja, N., 2012. Face Detection and Gesture Recognition for Human-Computer Interaction. London: Springer Science Business Media.