New Technology Applications Design & Business Models

(NTADBM)

IIM-NID Joint Course June to August 2012

Instructors: Prof. Rakesh Basant, Economics and CIEE (IIM) Prof. Deval Kartik, Strategic Design Management (NID) Prof. Bhavin Kothari, Strategic Design Management (NID) Prof. Jignesh Khakar, New Media Design, (NID) Academic Associate: Vijaya Rajeshwari

Group 7
Lohit Ahuja | Nikita Iyer | Priyanshu Dubey | Tusshar Saigal

Table of Contents
Need Identification.................................................................................................................................. 1 Introduction ............................................................................................................................................. 1 Purpose and Benefits of the Device .................................................................................................... 1 Technology & Design ............................................................................................................................. 2 Existing Security (Physical Lock and Key) system ............................................................................ 2 Anatomy of old system ................................................................................................................... 2 New System with Digital Key ............................................................................................................ 3 What is NFC?.................................................................................................................................. 3 NFC based Working Model ............................................................................................................ 3 Architecture of Design Solution ......................................................................................................... 4 Scenario .................................................................................................................................................. 5 Without Mobiloc ................................................................................................................................. 5 With the use of Mobiloc ..................................................................................................................... 6 Business Model ....................................................................................................................................... 7 What is being sold and the associated assets needs?........................................................................... 7 Customer Insights ............................................................................................................................... 7 Product Development on the basis of Customer Insights ................................................................... 8 Segmentation, Targeting, Positioning (STP) ...................................................................................... 8 Segmentation................................................................................................................................... 8 Targeting ......................................................................................................................................... 8 Positioning ...................................................................................................................................... 9 Product, Pricing, Advertising & Promotion and Place ....................................................................... 9 Product ............................................................................................................................................ 9 Pricing ............................................................................................................................................. 9 Advertising:................................................................................................................................... 10 Promotion:..................................................................................................................................... 10 Place: ............................................................................................................................................. 11 Sales and Distribution Channel ......................................................................................................... 11 Revenue Model ................................................................................................................................. 12 Standard Model ............................................................................................................................. 13

Customized Model ........................................................................................................................ 13 Marketing, Sales and Distribution Model ......................................................................................... 14 Economic Logic ................................................................................................................................ 14 Market Study................................................................................................................................. 15 Market Analysis ............................................................................................................................ 17 Financials ...................................................................................................................................... 18 Bibliography ......................................................................................................................................... 22

Need Identification
Theft is a major concern across genders and all age groups. There is a constant fear to safeguard valuables for short and long periods of time. But this involves a lengthy tedious process of the current physical lock and key system which users have no choice but to follow or if not followed, forego their valuables. It is this problem that we are trying to solve where users can lock and unlock their valuables through digital key mechanism by cutting down on the process time and ensuring a safer security system through new technology applications to the current combination lock and key system.

Introduction
MOBILOCS is an innovative security device that will empower users to safeguard their valuables through their smart phones. There are two parts of Mobilocs one is physical lock with digital receiver and second is smartphone which can communicate with the lock and thereby giving user a one-click option to lock and unlock all the devices one owns.

Purpose and Benefits of the Device

The primary purpose of this device is to eliminate the tangible key system and the associated problems like losing keys, misplacing, carrying and recalling keys. It enables the user to lock and unlock valuables through a password code on their phones so all the bags could be safeguarded through just one password. It eliminates the physical handling of keys in lock and key system by replacing it with digital mechanism.

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Technology & Design

Existing Security (Physical Lock and Key) system:
A lock is a device that keeps valuables safe or restricts access to something that needs protecting. A lock can hold things out or keep them in. Before the modern electronic age, locks were entirely mechanical and based on intricate mechanisms made

from levers, wheels, gears, and cams. During the mid-20th century, locks became more sophisticated and automated and started to incorporate electrical and electronic mechanisms. But now information is valuable too and most of it is held inside hundreds of millions of computers that are all linked together through the Internet. Modern locks that protect computers are based on encryption which is a way of securing information using complex mathematical processes.

Anatomy of old system

The pin tumbler is commonly used in cylinder locks. In this type of lock, an outer casing has a cylindrical hole in which the plug is housed. To open the lock, the plug must rotate. Without a key in the lock, the driver pins (blue) are pushed downwards, preventing the plug (yellow) from rotating.

When

the

correct

key

is

inserted,

the

gaps

between

the

key

pins

(red)

and driver pins (blue) align with the edge of the plug (yellow).

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When

the

gaps

between

the

pins

get

aligned

with

the

shear

line,

the plug (yellow) can rotate freely.

New System with Digital Key

At the heart of this idea we have a new technology called NFC or Near Field Communication.

What is NFC?
Near field communication (NFC) is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually no more than a few centimetres. NFC standards cover communications protocols and data exchange formats, and are based on existing radiofrequency identification (RFID) standards.

NFC based Working Model

The NEXT generation of smart phones are all going to be NFC enabled. There are already many Android phones available in the market that are NFC enabled. We have incorporated an NFC reader along with an NFC tag inside our lock. There is a small micro-controller inside the lock which will control the movement of the solenoid. The solenoid is our locking mechanism. The user will first have to download a Mobiloc app from the Android App-store (this app will be free). Once the app has been downloaded the user will see a lock (image) icon on his home screen. The user simply has to tap on this icon to open or close the lock. Since NFC has a
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short range of 5 cm, the user will have to get the phone within range of the lock to change its state.

What really happens is that the NFC enabled phone simply reads data from the NFC tag inside the lock to identify the state of the lock. Once the state has been identified the user can change the state of the lock by writing a new state in the NFC tag inside the lock. The NFC reader inside the lock will read the data from the NFC tag and tell the micro-controller inside the lock, about this change in state. The micro-controller controls the locking mechanism i.e. the solenoid. The solenoid is basically acting like an automatic latch. The latch closes in lock state and the latch opens in open state. The NFC reader will tell the micro-controller about the state of the NFC tag and the micro-controller will open or close the lock with the help of the solenoid.

Architecture of Design Solution

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Scenario
Without Mobiloc
User travels with luggage

User spends time looking for key

User locks luggage with lock and key system

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With the use of Mobiloc

User travels with luggage

User locks/unlocks luggage by one tap on the smart phone

Luggage Unlocked using NFC

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Business Model
What is being sold and the associated assets needs?
In Mobiloc we will fall under the highlighted category of Manufacturer & Inventor. Types of Rights Sold? Financial Creator Distributor Entrepreneur Financial trader

Types of Asset involved? Physical Manufacturer Intangible Inventor Human Human creator Human distributor

Wholesaler/Retailer IP trader

Landlord

Financial landlord

Physical Landlord

Intellectual landlord

Contractor

Broker

Financial broker

Physical Broker

IP broker

HR broker

As the technology doesnt have a close precedent hence we can claim ourselves to fall in the Creator category. Secondly our assets are physical and intangible because we will be selling the products through 2 channels: 1. Outsourced manufacturing and then selling in the market i.e. B2C selling of physical goods. 2. Giving licenses to top players in market (like VIP) so that they can design the lock according to their needs and earning royalties from them. This is B2B selling of intangible IP.

Customer Insights
Mobiloc is an amalgamation of innovative thinking by group & focussed group discussions. As part of focussed group discussions we interviewed 2 groups of people in a train while travelling a return trip from Ahmedabad & Delhi.

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Few of the key points that emerged from those consumer discussions are: 1. Travellers especially in train are quite wary of their luggage. 2. Cautiousness about luggage protection is independent of the class you travel in the train. Reason for this are: a. Passengers board & de-board the train midway. b. Secondly no stringent measures are taken by Indian Railways in restricting the unreserved persons from travelling in reserved bogies. c. Lastly the master keys exist for almost all locks currently in the market. 3. Carrying key is majority of times a pain as the only place it can be placed is in the pocket post locking the luggage. 4. Passengers are willing to spend almost 100% premium amount if new solution can promise them a peaceful sleep during their journeys.

Product Development on the basis of Customer Insights

On the basis of these insights and with a rough draft prior to focus group discussion we come up with a product called Mobiloc. The technology and design aspects of the Mobiloc has been discussed in earlier sections of the report which clearly demonstrates that our product is directly catering to the pain point of customer i.e. freedom from carrying keys and enhanced security of luggage.

Segmentation, Targeting, Positioning (STP)

Segmentation We will be considering segmentation from 4 different perspectives:
1. Geography wise segmentation: Here we will be considering Tier 1 & 2 cities. 2. Demographic wise segmentation: Here we will be considering Male, Female, Elderly and Bachelors. 3. Socio Economic Wise: Here we will be considering SEC A & B classes 4. Lifestyle Perspective: Here we will be considering aspirer & succeeder.

Targeting We will be targeting following 2 categories

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1. Under male section 15-25, 25-40 & > 40 years of age group 2. Under female section 20-30 years of age group only because this is the primary womens section which travels by them. Elsewhere they are accompanied by family.

Positioning It will be positioned as a unique solution offered to provide enhance security

to luggage users along with reducing the pain of carrying key which translates to enjoy full journey.

Product, Pricing, Advertising & Promotion and Place

Product - The product Mobiloc would be sold in two forms
1. Standard Lock Model The lock with above-mentioned design will be manufactured and marketed to consumers as the first digital lock. The manufacturing would be outsourced to suitable manufacturer to avoid initial investment on manufacturing and to incur only the variable cost per lock. The consumer of this lock would be NFC-enabled smart phone users and would buy it for their laptop bags, backpacks, handbags, travel bags etc. 2. Customized Lock Model This variant of Mobiloc would be manufactured in collaboration with premium suitcase/bag companies to allow some of their bag models come pre-installed with this digital lock. The variant would be needed so that the lock gels in with the suitcase/bag unobtrusively and doesnt affect the aesthetics of the bag. A premium suitcase model in partnership with one of the top companies like VIP, Samsonite or American Tourister will be launched and then depending upon the response, further partnership with more suitcases/bags companies for more number of models to incorporate Mobilocs would be formed.

Pricing The prices for the above said locks will be as below
1. Standard Lock - The average cost of a good physical key lock in the market is Rs. 40. As customer s are willing to pay 100% mark-up on existing products hence we would be pricing Mobiloc Standard version at Rs. 99/piece. We are expecting to earn a net margin of Rs. 15 on every unit sold.

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2. Customized Lock Model Here as we are giving them licenses hence we are concerned about the royalty only. Given the fact that this model will increase the exposure of Mobiloc (through pre-installation in well-known companies products) & would serve as good marketing and promotional tool for Mobiloc hence we have kept the royalty as Rs.5 /installed piece sold. 3. The application to control the locks using smartphones would be made freely available in iPhone, android and Nokia app stores. This will reduce the switching costs for customers. And in the coming years we will also try to get this application pre installed in some Smartphone manufacturers.

Advertising:
E-marketing campaign with more focus on mobile ads would be launched to target smart phone users. So the marketing channels used would be internet, email, mobile and bag/suitcases stores. Within the internet we will be taking help of primarily 2 platforms: 1. YouTube Channel Channel creation is not a costly affair. And this is significantly cheaper than creating & launching a TVC. Here we will include viral ad videos. Moreover through this we will be able to channelize our effort to our target customer only. 2. Website It is very necessary as any authenticated product in todays market is adjudged by its internet presence. Hence making a website would be of prime importance. Here products technical specifications, its price list, store availability; bug reporting centre etc., all will be there.

Promotion:
1. We will certainly keep away from discount based promotion. 2. Instead we will come up with promotional schemes which can improve our product, generate sales for us and off course create the buzz about our product. 3. To have such a scheme we will organize a temporary stall in malls, where people can come & give suggestions, where all products can be displayed and product can be sold also.

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Yearly advertising & promotional expenditure is as given below:

Figure 1: Yearly Advertising & Promotion Expenditure (Details in Economic Logic Section)

Place:
The product will be made available at following places: 1. Book stores at Railway Stations & Airports because here most of our target population is expected to turn up. 2. Tie up with luggage specific stores in common markets (like Lajpat Nagar), super markets (like Shoppers Stop) and hyper markets (like Reliance Mart)

Sales and Distribution Channel

Two kinds of sales channel will be used. 1. Direct Sales Channel This will consists of experienced sales persons & limited in number. They will be primarily looking into making sales pitches to big clients for convincing them to buy licenses for their products. Ramp up in this team will be very slow as we have limited number of customers to target in B2B. They will focus on realizing sales target for customized Mobilocs. The ramp up this sales force is given as below:

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Figure 2: Number of salesperson required as direct sales force (Details in Economic Logic Section)

2. Indirect Sales Channel This channel will comprise of conventional sales route i.e. Distributor followed by wholesaler then to retailer and finally to customer. The ramp up for this team will be a bit fast rate as they need to sell our flagship product i.e. Standard lock model. They will get in touch with every kind of person involved in sales channel be it distributor, wholesaler and retailer & convince them to hold our product. The ramp up this sales force is given as below:

Figure 3 : Number of salesperson as indirect sales force (Details in Economic Logic Section)

Revenue Model
Using the current NFC-enabled smartphone users in India and the growth rate of such users, the market size of these locks have been estimated. As one user could buy multiple Mobiloc for multiple bags, the effective market for digital locks is much bigger and as a first mover,
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we hope to capture most of the market share of it. The number bags of different kinds sold in last few years by various brands and by unknown brands and the respective growth rate data have also been collected and projected for next four years.

Standard Model
1. Organised Sector The penetration of Mobilocs in branded suitcases/bags market is expected to be higher than organised sector and thereby expected captured market share of Mobiloc has been increased from 1% in 2013 (launch year) to 15% in 2016. The calculations for revenue and profits have been made using these assumptions and the total revenue from organised sector for year 2013-16 is Rs. 16.92 crore. 2. Unorganised Sector The penetration here is low as the NFC-enabled smartphone users buying unbranded locks would be low. The captured market share assumptions here are 0.1% in 2013 increasing to 1% in 2016. The revenue calculated from this sector for years 2013-16 is Rs. 5.85 crore.

Yearly revenue from this model is as shown below:

Figure 4: Yearly Expected Revenue from sales of Standard Model (Details in Economic Logic Section)

Customized Model
The initial partnership with VIP is going to get minimal revenues to the tune of Rs. 7.7 lakh. From the second year 2014, the partnerships will increase and the total revenue for years 2013-16 is expected as Rs. 1.69 crore.

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Yearly revenue from this model is as shown below:

Figure 5: Yearly Royalty Earned from Customized model (Details in Economic Logic Section)

Marketing, Sales and Distribution Model

As discussed above, the customized model and the tie-ups with big suitcase companies would serve as a promotion exercise for Mobilocs. Apart from it, a marketing and advertising campaign would be launched with the theme of first digital lock highlighting the ease of use and improved safety features. The campaign would be kept keeping tech-savvy audiences in mind as they only with their NFC-enabled smartphones are our target consumers. The advertising campaign would be made to make a cognitive impact of these tech-savvy people.

E-marketing campaign with more focus on mobile ads would be launched to target smartphone users. So the marketing channels used would be internet, email, mobile and bag/suitcases stores.

Economic Logic
The steps for arriving at economic logic and the numbers are given below. The Red filled cells are expected values in coming years.

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Market Study
1. Calculate the total value of travel bags market in India.
Category Data Rs Million Backpacks Laptop Bags Handbags Luggage Travel/Sports Bags Travel 2011 10,681 7,045 20,105 33,501 10,059 81,391 2012 11,482 7,552 21,000 34,874 10,155 85,063 2013 12,320 8,107 21,968 36,409 10,247 89,051 2014 13,256 8,723 23,000 38,411 10,345 93,736 2015 14264 9386 24081 40524 10443 98667 2016 15348 10100 25213 42753 10542 103858

Figure 6 : Total value of travel bag market segregated into different categories (Source: Euromonitor, 2011)

2. Calculate the average price of each category in the market. We will be removing the handbag category from above data because that is not our target product
Average Prices Backpacks Laptop Bags Handbags Luggage Travel/Sports Bags Rs. 1250 1600 NA 5500 1800

Figure 7 : Average Price of various categories prevailing in the market (Source: Primary Data collection)

3. From above 2 tables we can extract the number of units made in each category.
No of units made yearly Backpacks Laptop Bags Luggage Travel/Sports Bags 2011 8,544,640 4,403,125 6,091,073 5,588,500 2012 9,185,520 4,720,125 6,340,800 5,641,611 2013 9,856,080 5,067,063 6,619,800 5,692,944 2014 10,605,120 5,452,125 6,983,891 5,747,000 2015 11,411,085 5,866,450 7,368,007 5,801,569 2016 12,278,302 6,312,260 7,773,249 5,856,656

Figure 8 : Number of units sold in each category

4. Get the market share data. An important observation over here was that close to 80% of the market is under unorganized sector.

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Travel Goods Company Shares % Company VIP Industries LTd Samsonite South Asia American Tourister Fastrack Targus JanSport Asia Nike Puma Reebok India President Bags Khadim India Case Logic Adidas India Marketing Superhouse Gucci India Pvt Ltd Shopper's Stop Aristocrat Luggage Others Total

2011 5.05 5.00 1.65 1.50 1.07 1.00 0.50 0.62 0.45 0.20 0.20 0.28 0.23 0.12 0.10 0.14 NA 81.89 100

Figure 9 : Market share data (Source: Euromonitor, 2011)

5. Then we identified who all the top players in each of the categories:
Top 3 players in each category Backpacks Fastrack American Tourister JanSport Asia Laptop Bags Targus American Tourister President Bags Luggage VIP Samsonite American Tourister Travel/Sports Bags Adidas Reebok Nike
Figure 10 : Top 3 market players

6. As our product is closing linked with usage NFC technology hence we then collected data

regarding NFC enabled phones in the market.

Smart Phone Data 2011 No. of smart phones (millions) 9,500,000 % Smartphones with NFC capability 2% NFC based smartphones (units in million) 190000 2012 2013 2014 48,000,000 20% 9600000 2015 67,200,000 30% 20160000 2016 87,360,000 40% 34944000

20,000,000 32,000,000 5% 10% 1000000 3200000

Figure 11 : Number of NFC enabled phones expected in coming years (Gartner, 2011)

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Market Analysis
1. Assumption: Industry Wide Market Shares are approximated for individual categories also. Because of lack of category specific market share.

2. Hence now calculating the number of units produced in each category by each of the top 3 players.

Backpacks ( No. of units for top players) 2011 Fastrack 128,170 American Tourister 140,987 JanSport Asia 85,446 Total target Backpacks 354,603 Laptop Bags ( No. of units for top players) 2011 Targus 47,113 American Tourister 72,652 President Bags 8,806 Total target Laptop Bags 128,571 Luggage ( No. of units for top players) VIP Samsonite American Tourister Total target Luggage 2011 307,599 304,554 100,503 712,656

2012 137,783 151,561 91,855 381,199

2013 147,841 162,625 98,561 409,027

2014 159,077 174,984 106,051 440,112

2015 171,166 188,283 114,111 473,560

2016 184,175 202,592 122,783 509,550

2012 50,505 77,882 9,440 137,828

2013 54,218 83,607 10,134 147,958

2014 58,338 89,960 10,904 159,202

2015 62,771 96,796 11,733 171,300

2016 67,541 104,152 12,625 184,318

2012 320,210 317,040 104,623 741,874

2013 334,300 330,990 109,227 774,517

2014 352,686 349,195 115,234 817,115

2015 372,084 368,400 121,572 862,057

2016 392,549 388,662 128,259 909,470

Sports Bag ( No. of units for top players) 2011 Adidas 12,854 Reebok 25,148 Nike 27,943 Total target Sports Bag 65,944 Total Units 1,261,774

2012 12,976 25,387 28,208 66,571 1,327,471

2013 13,094 25,618 28,465 67,177 1,398,679

2014 13,218 25,862 28,735 67,815 1,484,244

2015 13,344 26,107 29,008 68,459 1,575,376

2016 13,470 26,355 29,283 69,109 1,672,446

Figure 12 : Total target units for Mobiloc

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Financials
Standard Model 1. Assumption: a. We will be launching in year 2013. b. In organized market we are expecting to capture market share of 13% till 2016. c. In unorganized market we are expecting to capture market share of 1% by 2016. Based on the above assumptions we have the following Standard Mobilocs sold in market in coming years.
2011 Travel Market (in units) 24,627,338 Organized Sector (%) 18.11 Industry Growth 2.10% OS Penetration 18.11 Organized Sector (units) 4,460,011 Market Share (Capture, Assume) Mobiloc units sold (in organized market) 2012 2013 25,888,056 27,235,887 2014 28,788,136 2015 30,447,111 2016 32,220,468

18.49 4,786,782

18.88 5,141,756 1% 51,418

19.28 5,548,930 5% 277,446

19.68 5,991,941 9% 539,275

20.09 6,474,094 13% 841,632

Unorganized Sector (%) 81.89 UOS Penetration 81.89 81.51 81.12 UnOrganized Sector (units) 20,167,327 21,101,274 22,094,131 Market Share (Capture, Assume) 0.10% Mobiloc units sold (in unorganized market) 22,094 Total Mobilocs Sold 73,512

80.72 23,239,206 0.50% 116,196 393,643

80.32 24,455,170 0.80% 195,641 734,916

79.91 25,746,374 1.00% 257,464 1,099,096

Figure 13: Expected units of standard Mobilocs to be sold in market

2. Assumption : a. Being a premium product we will be pricing it at Rs. 99/piece b. We are expecting a margin of Rs. 15/piece Based on the above assumptions and Total Mobilocs sold we will be computing the money available for advertising & promotion budget for us.

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2011 Total Revenue (Rs.) COGS Cost of Normal Lock Cost of chip Cost of NFC tag Cost of 1 Mobiloc Total COGS

2012

2013 7,277,657 25 20 15 60 4,410,701

2014 38,970,609 25 20 15 60 23,618,551

2015 72,756,686 25 20 15 60 44,094,961

2016 108,810,500 25 20 15 60 65,945,757

Outsourced (Hence expecting this is the cost per lock)

Expected Margin for 1st year Expected growth in margin Expected margins in various years Total expected margins

15 2% 15 1,102,675 15.3 6,022,730 15.6 11,469,099 15.9 17,495,541

Money available for Selling & Advertising Expenditure 1,764,281 9,329,328 17,192,625 25,369,201

Figure 14 : Money available for selling & advertising expenditure

3. Assumption: a. Considering 50% of above amount is available for advertising & 50% for sales force development b. Consider 1 sales person for this channel will be paid Rs. 360000 per annum Based on the above data we will be computing the advertising mix for subsequent years & sales force strength.
2011 Advertising & Promotion expenses available Advertising & Promotion Mix Youtube Website Mall Promotions In store Promotions Print Media Radio Total 2012 2013 882,140 2014 4,664,664 2015 8,596,313 2016 12,684,600

100,000 100,000 400,000 282,140 882,140

Figure 15: Advertising Mix

100,000 20,000 1,000,000 500,000 2,000,000 1,000,000 4,620,000

150,000 20,000 2,000,000 1,000,000 4,000,000 2,000,000 9,170,000

300,000 20,000 2,000,000 2,000,000 4,000,000 4,000,000 12,320,000

As seen from above table we are well within the budget.

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2011 Selling & Distribution Expense available One selling person will take Sales force strength

2012

2013 882,140

2014 4,664,664

2015 8,596,313

2016 12,684,600

360000 pa 2 13 24 35

Figure 16: Sales force strength for selling standard Mobilocs

Customized Model 1. Assumption: a. We will be launching this product from 2013 onwards b. As for this we will be just negotiating with top market players and providing them with the licenses hence here we expect that we will be conquering 30% market share by 2016 c. The royalty is equal to Rs. 5 per piece. By using above assumptions we can calculate the total royalty earned as follows:
2011 Travel Market (in units) 24,627,338 Organized Sector (%) 18.11 Industry Growth 2.10% OS Penetration 18.11 Organized Sector (units) 4,460,011 Market Share (Capture, Assume) Mobiloc units sold (in organized market) 2012 25,888,056 2013 27,235,887 2014 28,788,136 2015 30,447,111 2016 32,220,468

18.49 4,786,782

18.88 5,141,756 3% 154,253

19.28 5,548,930 7% 388,425

19.68 5,991,941 15% 898,791

20.09 6,474,094 30% 1,942,228

Royalty (Rs./piece) Total Royalty Earned (Rs.)

5 771,263 1,942,125 4,493,956 9,711,141

Figure 17: Royalty earned by selling licenses for Mobilocs

2. Assumption: a. We will be deploying 100% of royalty earned for sales-force development in 2013 followed by 75%, 60% & 50% in 2014, 2015 & 2016 respectively. b. Salary for 1 sales-person here will be Rs. 500000 per annum. Increased salary because better skill set person is required to negotiate with top notch companies.

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By using this data sales force strength comes as follows:

2011 Sales Force development allocation(%) Corpus for sales force development Sales force strength 2012 2013 100% 771,263 1 2014 75% 1,456,594 3 2015 60% 2,696,373 5 2016 50% 4,855,570 10

Figure 18: Sales force required for negotiating with big companies for customized Mobilocs

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Bibliography
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