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RU Secure

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by

Sumanth Karasala

on 3 May 2015

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Transcript of RU Secure

CUSTOMER SEGMENTS
Our customer segments are a niche and multi-sided markets. We are catering to

specific kinds of customers. Our target markets are universities with safety issues

pertaining to students and faculty. We are initially focusing on Rutgers University

as a starting point but eventually plan to expand. For multi-sided, we need the

partnership of the university to utilize the distribution channels, along with the

student participation to use the product.
VALUE PROPOSITION
Our value proposition is a promise to both the university and its students. It is

designed with students in mind, since they will be the primary users and buyers

of the product. It is a choice to wear a RU Secure Alarm-System, so if they are

not interested in purchasing one it will not be used. Once students realize the

importance of the device they will be encouraged to buy one. The device will be

designed with convenience in mind and will look like this:
CUSTOMER RELATIONSHIPS
Our goal is to build successful customer relationships with both the university and

students. First, we start with our self-service part. It will be available on our

website. There, students will be able to read FAQ’s, get in contact with

technicians for issues and repairs, learn more about the product, order new

accessories to best fit their needs, and check to see if their software is updated.

If there are issues that cannot be resolved through online software checks,

students will be able to send the device in free of charge for diagnosis and repair

by a technician. Also, students will be able to download templates to design their

own bands and accessories to further customize the product. We will also offer a

community blog & forum where students will be able to post their experiences,

give feedback on the service/product and even collaborate on new projects.
CHANNELS
We will use various channels in order to fully reach and serve our customers, in

various steps through the delivery process:To increase product awareness we will implement social media campaigns,

brand ambassadors, and college assemblies/orientations. For our social media

aspect, we will be creating Facebook, Twitter, and Instagram accounts for

students to interact in a fun and creative way. We will use the #RUsecure for

students to share their experiences and promote the security features and

convenience of our product. Our brand ambassadors will be influential students

across different areas of the campuses that can spread the world and help us

share our product. Fraternity and sorority members, athletes, and students with

large social media followings will be our main targets for brand ambassadors.

Our third channel will be holding college assemblies/orientations for students to

know about our product the second they are in college. Holding sponsored

events and giveaways in the middle of ABP and the student center on College

Ave as well as frequently renting out tables across the campus will help us

promote our product and get students involved.

As far as purchasing goes, students will be able to buy the simple device at any

Rutgers Student Center or online. The device will be a keychain attachment that

will include two sets of strings so that it can adapt to be worn as a bracelet or a

necklace as well.

As far as delivery goes, we will have to ensure the device will contact the proper

authorities promptly, we will need to create a response center that can contact

the proper authorities, and make sure that the bracelets contact the response

center promptly and efficiently. The bracelets will need to be able to deliver high

quality audio as well as accurate GPS tracking to the proper parties.

After we make our sales, we will need to maintain a good relationship with the

university and continue to ensure quality service. We will also need to continue

sponsoring and holding safety and security presentations and workshops for

students as well as aligning with clubs and organizations within the school that

share the same values and goals as our brand. Routine tests and drills will be

done to ensure that the devices are reaching the response center properly as

well as routine upkeep and research to make sure the devices are providing the

best possible service and accurate information.
Thank you!
Rising Issue
The opportunity that stood out to us most was the issue with safety here at Rutgers University. We have come up with a solution that involves an alarm system that also serves as a security service.
COST STRUCTURE
Our cost structure will be determined by the amount of orders a university places.

Some universities may order for their entire student body and staff while others

will offer our product to be purchased through the university at a lower cost. For

this case our price would be charged at a variable rate. If universities would like

to order a substantial amount then our company will offer the product at a lower

rate. For example if university A requests an order of about 10,000 units and

university B requests an order of about 50,000 units, University B will be offered

a much lower rate than University A. Since our product doesn’t require much

material to make and function properly, we can assume that about 25% of the

profit we earned was gone to the making of the product and the cost that we

have to pay to the suppliers. This leaves us at about 75% for profit. We assume

that universities with high crime rate areas would be very likely to purchase our

product in large amounts.

Through research we have found that the Fitbit Flex costs only $17 to make and

Xiaomi’s fitness tracker costs less than $13 to make. These fitness trackers

contain much more functions than our product so we estimate that costs to make

our device would be cheaper. Due our estimates of low quantity orders in the

beginning, we estimate that costs would be $15 per unit.
RU Secure
Adrian Dyjak, Michael Perez, Jhessier Espana, Albert Roh, Sumanth Karasala
REVENUE STREAMS
Revenue will be brought in through sales of the device, subscription services,

licensing agreements, and partnerships. The safety device will be offered as a

standalone device that can be attached to different type of accessories such as

bands, key chains, or necklaces. Along with sales to the customer directly, there

will be revenue from wholesale orders from stores and universities. This aspect

of asset sales will contribute greatly to our revenue stream.

Subscription fees will be another great source of revenue. For this model, we will

be implementing the “freemium model”. As a student, there will be a free service

(costs mitigated by students’ university or student will be paying as part of their

tuition), which will expire when the student graduates. During the time the student

is in school, there will be a premium service available which offers more features.

After graduation, the student will also have the chance to retain the security

service by subscription of the premium service. Students may have incentive to

retain the security service if they begin to work in an area that they deem is

unsafe.

The technology for our product will have other applicable uses. We will license

our technology to other companies that wish to explore other target markets.

License agreements with these companies will generate additional income for us.

The final revenue stream is through partnerships. We will sell our product to

companies such as ADT or universities who may want to include it in one of their

security packages or as a gift for upcoming freshman. ADT does not currently

offer any service or product for the “college student”. They only have services for

residential, businesses, and working professionals. Targeting the college market

through a partnership with us would be beneficial to both parties.
The key resources we need to produce our product include securing intellectual

patents on our design, obtaining a connection with a manufacturer, an office

building to handle calls, a partnership with local police, and human resources to

hire employees that will run our customer service. First, we will need to secure an

intellectual patent to proceed with the implementation and manufacturing of our

design. Once we know we can proceed and come up with the final design, we

will obtain a connection with a manufacturer overseas and begin manufacturing

our product. Once we have the product, we will need to find a place to handle

calls and work out of at the start. We realize that we may not have enough funds

for a full sized office but if we can work out of an off campus house or apartment

at the beginning it will suffice. Before we begin our service, we will partner with

the local police so they back our product and know that we are helping the

community. Human resources will also be essential so we can hire competent

employees to handle customer care and customer service so our customers will

know they are in good hands while using our product.
KEY ACTIVITIES
Our business will need to engage in a few key activities including intellectual

property research, software development, marketing, sales, and quality

assurance. Intellectual property research will be used to ensure that we are not

stealing and ideas and that our product is unique. We researched some

intellectual property patents and could not find any evidence that we were

infringing on anyone else’s patents. Software development will be essential to

making sure that our product works and is safe and secure. If people cannot rely

on our software their lives could be at risk. Marketing will use social media, brand

ambassadors, and advertisements to engage our audience and increase our

outreach. Sales are essential to increase our revenue. Quality assurance will be

used to make sure that the products are consistently up and running without

down time to keep our customers safe.
KEY PARTNERSHIPS
Our key partnership will be with universities. One goal of all universities is to

keep their students safe. We will be providing a solution while attaining the

necessary target market. The partnership with universities allows us access to

the continuous flow of students. A certain percentage of these students will be

retaining our services after graduation so this partnership is crucial for our revenue streams. Through our partnership we

can negotiate device prices and

even if the profit from initial sales is small, the exposure to the students will

create sales through lost items, need of different styles, and subscriptions. For

this exposure, we will be able to provide the universities a cheap solution to

safety while also educating students/faculty through safety seminars.

A secondary key partnership will be with local authorities and security firms.

Sharing resources with either the local authorities or a security firm like ADT will

cut costs of operations and also create more efficiency. With the increase in

efficiency and decrease in costs, our service will be much more faster with

greater reliability while increasing our profit margins at the same time.
KEY RESOURCES
Full transcript