MINI PROJECT REPORT

Submitted in partial fulfillment of Master of Business Administration

Session -2022-2023

“TECH-INFUSED TABLE”

Faculty Guide Submitted By:

Mr. Shrey Shukla

Faculty- Master of Business Administration Anshika Shukla
(Sec-A)[2312265]

PRANVEER SINGH INSTITUTE OF TECHNOLOGY

Affiliated to Dr. A.P.J. AKTU
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DECLARATION

We hereby declare that this submission is our own work. It contains no material previously

published or written by another person, nor has this material to a substantial extent been

accepted for the award of any other degree or diploma of the university or other institute of

higher learning.

Anshika
Shukla

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 Date: 09- February-2024

CERTIFICATE

This is to certify that Mr. /Ms. ______________________________________ Roll

No._____________________ Student of MBA first Semester (Session 2022-2023) has

successfully completed his/her Mini Project I (KMBN 152) titled “SMART TABLE”. The

work is original and carried out under the guidance & supervision of project guide.

We wish him/her all the success and good luck for bright future.

HOD, MBA Project Guide:

PSIT Mr. Shrey Shukla

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 ACKNOWLEDGEMENT

Mini Project Report is the one of the important part of MBA program, which has helped me to

gain a lot of experience, which will be beneficial in my succeeding career. For this with an

ineffable sense of gratitude I take this opportunity to express my deep sense of indebtedness

and gratitude to Dr. S. K. Bhalla, Director - Pranveer Singh Institute of Technology and

Dr. Harit Kumar, Head of Business Administration Department, for their encouragement,

support and guidance in carrying out the project.

I am very much thankful to, my Project Guide Mr. Shrey Shukla, Faculty–MBA Department

for his interest, constructive criticism, persistent encouragement and untiring guidance

throughout the development of the project. It has been my great privilege to work under his

inspiring guidance.

I am also thankful to my parents and my friends for their indelible co-operation for achieving the

goals of this study.

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 TABLE OF CONTENT

PART I

 EXECUTIVE SUMMARY

 DESCRIPTIONOFBUSINESS IDEA (Problem Statement)

 INTRODUCTION (Importance and Relevance of Business Plan)

PART II

 FEASIBILITYANALYSIS

A. Product Feasibility-
• Concept Testing
• Usability Testing
B. Industry Feasibility-
• Target Industry Attractiveness
• PESTLE/ SWOT
C. Organizational Feasibility– Management process (5 M’s of Management)
• Manpower
• Material
• Machine
• Method
• Money
D. Financial Feasibility- • Capital Requirements

• Break Even estimate (graphically)

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 E. Marketing Feasibility-

• 4 Ps of Marketing

• STP

• Other Marketing Strategies .

 CONCLUSION

 BIBLIOGRAPHY

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Pranveer Singh Institute of Technology
Mini Project -1

EXECUTIVE SUMMARY
This project study covers the feasibility of a business idea – a “TECH-INFUSED TABLE” in

India. The study is the preliminary of a business plan. Therefore, it aims to discover the

environment surrounding the business across metropolitan and smart cities in India.

The project study employs descriptive approach, using both quantitative and qualitative methods.

The data collection includes primary data. The primary data is collected through interviews, and

questionnaire.

The study evaluates the business idea, using a feasibility analysis. Four different aspects of a

business idea are analyzed: product and service feasibility; industry and market feasibility;

organizational feasibility; financial feasibility. Different tools are used to deliver the results such

as PESTLE, SWOT, financial and resources theory.

The key results include market situation and regulations related to a automation and IOT based

smart furniture business and estimated finance for the business. In conclusion, the TECH-

INFUSED TABLE is a feasible idea. On the way to recovering from the economic crisis, India is

a promising market. The business is financially feasible, thanks to the support of Startup India

scheme launched by PM Narendra Modi.

Key words: Automation, business idea, feasibility, Tech-infused Table, Tech cities, India.

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DESCRIPTION OF BUSINESS IDEA
Tech-Infused Table is a product invented for the ease of the people in day to day experience with

the domestic product with an automatic space saving concept of dining table and centre table

This is an automated smart centre and dining table provides a variety of function for every house

warming ambience.

The centre table and dining table is used for storing crockery and other household utensils in the

reach of every owner without leaving the guest unattended. It facilitates automatic lift

mechanism for storage, an multimedia system for any house party with great user interface, an

automatic lift system for electrical sockets operated by touch switch, an ambient lighting for

elegance looks with germicide light for hygienic conditions of the crockery along with ultra

modern luxury design. It uses a new age technologies such as; Linear Actuators used for lifting

various storage mechanisms, Touch control systems, switches that provides feather touch on any

surface to operate electronics items, Multimedia system, Electronic sockets

Thermostat, Thermostat used in this product helps user to know the temperature of the electrical

appliance and Disinfectant light.

This product has been developed further to cater the need of customer by adding addition

features. Customer can choose the feature in accordance to their need and which would result in

changes in price of the product it may get high and low.

To expedite the supply chain process most of the product will be available at online mode

initially such as, our own website, amazon and flipkart.

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INTRODUCTION

Relevance of the business plan – Tech-Infused Table

For a good business idea creative thinking is important. Ideas can come out of no where, like one

day passing by a road I saw a JCB machine digging the road as soon as I saw it coming slowly

out of the pit, the idea clicked my mind that why not a table with the same lifting effect, that’s

how the idea of lifting Smart table was conceived.

How difficult it is to accommodate so many guests in small houses, with over flooded heavy

furniture with no extra use. After exploring the market in metropolitan cities, I have found that

people have a high demand for portable, folding, flexible and convertible/multifunctional

housing and living solutions.

That’s where this business idea came across my mind. I have found that the our existing

potential competitors but they are still unable to satisfy the consumer wants.

The idea of smart furniture is completely new in India. However, Smart Table will cover the

metropolitan cities across India such as Delhi, Mumbai, Kolkata etc. since it’s electricity

consumption is comparatively very low, and in addition to this these cities who have higher cost

of living in compared to other cities which will help to make it cost effective.

Importance of Tech-Infused Table

Our innovative & furniture is really one of it’s kind it has consolidates various modern day tech

devices and technologies into one table making it a Tech-Infused Table.

Thus it solves the problem listed below in the most convenient and eco-friendly manner.

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Problem:

 The idea for this product came from a basic domestic problem of getting tea or other

stuffs for the guest in an house.

 Traditionally getting tea and coffee for guest was a hectic task for most of the customer

and also leaves the guest unattended. In order to solve this problem this product was

innovated.

 Expensive furniture available in the market, of basic design with no extra feature.

Solution:

 This product helps in attaining all the task done by the user in their living room while

guest are present. Now you don’t have to leave your guest unattended and makes your

life hassle free. Let it be a party or any occasion in house the sound system build in this

product will solve the problem instantly and give a life to the party.

 Being the first in this segment this idea is a solution for many of the problem in a home

and offices by providing consolidation of the items required in any domestic homes and

offices.

 It’s energy consumption is very low as compared to other smart home devices.

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FEASIBILITY ANALYSIS:
Generation of ideas is not enough; the business ideas must stand the scrutiny from

technoeconomic, financial and legal perspectives. The viability of The Tech-Infused Table is

determined using the primary data. The first section, which uses data from empirical research,

discusses product feasibility, the second section with an in-depth examination of the industry and

market and the third section assesses the organizational viability of The Tech-Infused Table .

Finally, the financial viability is discussed.

PRODUCT FEASIBILITY:
In order to determine the Tech-Infused Table’s product feasibility, the Concept testing and

Usability testing have to be implemented. In this part, findings about The Tech-Infused Table’s

products are presented.

Concept Testing:

Product: The Tech-Infused Table is a product innovation providing smart home solution,

convenience space saving features immersive experience and premium quality in reasonable

price specially targeting niche customers who are ready to pay premium prices for premium

product and quality. The aim of the project is to provide immersive experience in furniture in

place of conventional furniture.

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Target Market: The target market is the section of society who seek premium and unique

products for which they are ready to pay any amount and are bored of regular traditional

furniture.

Why The Tech-Infused Table?: Tech-Infused Table is using a holistic approach that will

provide the user with an end to end satisfaction and ease. The automated voice controlled Tech-

Table and additional storage is designed to provide the user best and unique experience all

together.

Special features:

 Product idea :- A smart table that fulfills the day to day operation instantly with voice

command

 Product concept :- This table has automated lifting and automated storage system for

storing crockery's and other stuffs as per the customer requirement

 Product image :- This product will be perceived by the customer as a problem solving

with full customization option available for home and offices.

 Services provided :- This product comes with a efficient and fast after sale service that

will give instant solution to the customer in case of any problem.

 Other features :- this table is a indigenous product, all the parts of this table are made in

India.

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Management team: Vaishali Gupta, Anshika Shukla, Harshal Yadav,Manya Mishra and Sana

Siddique are the co-founders of Smart Table.

Usability Testing:

Usability testing is a technique for determining how easy or complex a company's product is for

users. It can also be used to assess the intuitiveness or usability of other areas of the customer

experience, such as navigating a website or downloading a trial version. The most common

application of this form of testing is to assess the smart furniture usability. Usability tests are

conducted by asking individuals to complete specified tasks within their product while

monitoring their progress. Device designers can find places of friction or misunderstanding by

watching how consumers interact with a product without being given step-by-step instruction

What does Usability Testing actually test?

Product teams can run usability tests to gain many types of data about their products. But most

teams use these tests to learn the following:

1. Ease of use: Is the solution straightforward, self-explanatory, and easy to learn?

2. Efficiency: Are users able to complete each task with a minimum amount of time or clicks?

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3. User-friendliness: When a user has trouble figuring out the next action or where to find a

feature, does the system offer real-time help? And is this form of assistance itself easy to

locate and use?

1. Planning the usability test:

This stage should output a document describing the test’s goals and methodology, how the team

will choose participants, what the working procedure will be, the types of data the team wants to

collect, and the like.

2. Recruiting participants:

This stage includes deciding who your ideal participants will be, developing a detailed recruiting

questionnaire, and determining a plan of action to begin seeking and evaluating participants.

3. Preparing test materials:

Test materials prep helps you to decide what actions you’ll want participants to take within your

product and the types of outcome you’re working toward. Then you will need to design the test

environment (which could be remote or in-person at your offices).

4. Setting up the test environment:

For this stage, you will need to design the actual environment where you will be conducting

your tests. Usability test methods include lab testing (in-person at your offices) and remote

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testing (where participants can log in to your test from anywhere). You will need to choose

which type of test makes sense for your team’s goals and needs.

5. Conducting the test:

Here you will run your usability test with your participants. One tip offered in the IEEE paper is

to conduct dry-run tests beforehand with your team. Dry-run tests are a good way to learn ahead

of time if there will be any problems in collecting and recording data. It is also an opportunity to

uncover any issues with your product before your participants do.

6.Analyzing the data:

Here your team will study all data gathered from your usability test to glean critical insights and
actionable intelligence on how to improve your product’s usability.

7. Reporting the results:

Finally, i will share my usability tests’ findings with relevant stakeholders across my team, to

earn buy-in to proceed with my suggested improvements.

We have done 7 pilots till now. All the completed projects are working fine as per our

expectations. Tests were performed on furniture units, which elements were manufactured in five

structural design variants. All the features of tech-infused table follow all the steps:

1. Touch switch provide feather touch on any surface to operate electronics items.

2. An automatic lift system for electrical sockets operated by touch switch. An ambient

lighting for elegance looks with germicide light for hygienic conditions of the crockery.

3. Fly ash that is used increases the fire resistant property by ten times making the homes or

any property more durable and safe.

4. Multimedia system used in this product is a speaker system that will add on the feature of

converting your ordinary room to party room with the help of lighting it provides the

normal ambience into party ambient.

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 5. Thermostat used in this product from which it is easy to identify the temperature of the

table. When the temperature reaches at a certain degree fan automatically turns on.it helps

to reduce the risk of short circuit.

6. Linear actuator is a dc motor the makes a linear motion that helps this product to lift any

surface out which allows it to make an automatic lift mechanism, with the help of this we

can use hidden storage and also we use this mechanism in electric socket as well.

By using this table usability testing providing ease of access to the customers, it provide

convenient to customers to use all the features in one table it save space and provides a

emerging Satisfaction to the target customer. However, this kind of expensive products are

helpful for those customer which are impulsive and want to showcase their things to others.

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INDUSTRY AND MARKET FEASIBILITY
In this, the target market is defined through market segment. Then, primary data is presented to

evaluate market demand.

Target Industry Attractiveness

The selection of a target market is critical to a company’s success. Geographic, behavioral and

demographic segmentation were used to choose the target group for Tech-Infused Table. It

largely targets on the niche segment or the people coming from standard income group. The

business relies on B2C/ B2B/ D2C model focusing on direct customers, Architect, Interior

Designers, builders and real estate.

PESTEL Analysis

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Firstly it was suggested PESTEL analysis as a tool to examine the macro environment it can be

extended further to cover different aspects of the industry. The six key areas that are covered in

PESTEL:

Tech-Infused Table is a India-based brand, offers lavish smart home decors and furniture at

reasonable prices. It will be accessible to across India, offering a range of products. As this brand

is diverse, it’s a one-stop-shop for all the smart home solutions.

This PESTLE analysis of Tech-Infused Table uncovers expecting controversies, growth, and
challenges.

Political factors: Branching into Asian markets

Since TECH-INFUSED TABLE is in India, the company must abide by the regulations of the

country it may share similar bills or political influences, But that’s not always the case. One

thing is for sure, all countries get benefitted by political stability. Without it, economic stability

is impossible. Means, a brand like TECH-INFUSED TABLE may lose profits in one location

over another, depending on who is in charge and what they stand for.

For instance, an unfriendly government can make importing and exporting foreign goods a

hassle. TECH-INFUSED TABLE depends on these relationships to remain stable , otherwise, the

revenue will be at stake. On the flip side, a good relationship is a blessing for TECH-INFUSED

TABLE. TECH-INFUSED TABLE, seeing this positive shift, would consider moving into Asian

markets as future plan.

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Now that a bridge of good faith is opening, TECH-INFUSED TABLE is jumping at the chance.

Economic influences: A smart response to the recession

Feasibility is a multivariate concept; that is, a project has to be viable not only in technical terms

but also in economic and commercial terms too. Moreover, there always is a possibility that a

project that is technically possible may not be economically viable.

Just like any other brand TECH-INFUSED TABLE is also affected by the covid-19, it is

susceptible to the worldwide economy. Even now, some big name brands are still suffering from

the recession. Thousands of people lost their job at the time. In response, we witnessed

consumers make rational buying decisions. Purchases were based on need rather than luxury.

Although people may need furniture, upgrading a mattress, dresser, or couch was far from mind.

Knowing money was tight, TECH-INFUSED TABLE priced their wares conservatively. Now,

when you need stylish and technological advance but inexpensive furnishings, TECH-INFUSED

TABLE comes to mind. You can find everything for your home while saving a buck or two. On

the business side, TECH-INFUSED TABLE is influenced by a strong and weak dollar. The

stronger the dollar, the more US brands can lose money. Luckily, the economy has strengthened

(while still recovering). More jobs are opening up and sales are rising again.

Social: controversies and complaints

Know the local culture before opening your doors. That’s a rule every business should follow.

Not only to tailor the product to the consumers, but also to avoid offending social values. TECH-

INFUSED TABLE keeps this rule close for every marketing material they put out.

Unfortunately, their efforts aren’t always well-received.

Still, you can’t say TECH-INFUSED TABLE doesn’t know their customers. They deliver what

is “appropriate” per location and scrub out anything that isn’t. If they printed the same catalogue

across, it could likely to face a backlash and Profits could suffer. At the end of the day, TECH-

INFUSED TABLE is a business with only profits.

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Funnily enough, TECH-INFUSED TABLE suffers from a surprising amount of one-star reviews,

searching their name and “reviews” brings up many disgruntled complaints. Most are about not

receiving their products on time after ordering online or when the product does arrive, it’s only

after weeks of waiting.

Most report an “awful experience” and “horrible delivery” as their main gripes. This may be a

fault of the delivery partner and company they use. But since TECH-INFUSED TABLE name is

on the package, it’ll always be the one receiving the bad press. We aim to establish our own

distribution channel and assembly line to facilitate the supply chain.

Technological: Achieving more with digital catalogues

Paper catalogues are not the only way to showcase products anymore, with the internet literally

at our fingers (thanks to our smart phones), people are likely to check out offerings online.

Nowadays, every business should have a functioning website.

You can find our current offerings, sales, and home decor inspiration on our website. They also

allow for placing orders online. You can’t do that with a paper catalogue.

Tech-Infused table aims to provide a realistic experience for their customers online. You can

search by product or by room (bathroom, living room, etc). If you’re searching for products at

premium price, we have a category for that as well.

All businesses make profit from increasing customer satisfaction. It leads to new reviews, word

of-mouth publicity, and brand loyalty. Considering the amount of effort it goes into knowing

their consumer base, it’s not surprising their digital channels reflect similar effort.

And to add up to the technological aspect of the table like how home automation is at its peak

and this business is a up gradation of the name " HOME AUTOMATION" as it also transform

the furniture into space saving storage via IOT Features Further we have added various sensors

like proximity sensor and alarm for hindrance by adding slow and steady lifting to reduce any

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chances of harm to the customer and also a kill switch to restrict the usages of this product by

children of less age.

Environmental: Store-wide renewable resources

Smart Furniture is invested in eco-friendliness. Literally we’re aiming for making its in-store

energy to be fully renewable and less power consumption. One way we’re achieving this is by

investing in solar and wind panels. We’re also aiming to shift the materials too, Tech-Infused

Table offers customization options to customers by not only focusing on wood but also on

alternatives of wood in our product like , acrylics, fiber, glass, metal, aluminum etc. to be taken

from sustainable sources.

Legal: Accused of death and harm

All big businesses are susceptible to legal threats. Smart Furniture must follow a list of laws and

regulations in every field they operate in. Since there is a manufacturing unit, staying up-to-date

with labor laws is essential.

When problems or any mishappenings occur, any business needs to ensure their products are

safe. Otherwise, lawsuits happen. Although they may recover monetarily, their reputation might

not.

As we will approach high end services of builder, _ and provide them the opportunities to make

or associate with the India’s first smart furniture manufacturing company whose products are

secured by Patency Act (93).

SWOT Analysis:

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Strengths:

Market research

Tech-Infused Table knows the ins-and-outs of their customers. If they didn’t, the company would

have a hard time providing what their customers want. And what their customers want are a

collection of affordable furniture and home appliances.

If Tech-Infused Table didn’t know this is what their customers want, they wouldn’t be able to

sell so many units. Nor would they bother to put in so much work into the development and

design of their products.

The motors, the multi features and application are the key strength of this product, furniture like
this has not been in the market till now which will be evolution in the furniture segment. The

speed, smoothness of working will remove all the threads of consumers. This automated smart

furniture is new in the market so this gives an idea that this is the strength of this product.

Countless designs

Tech-Infused Table designers creates stylish, newly designed products, along with that the

customization option which is available for the customers makes it beyond than just a physical

decoration. The products are developed for easy transport and assembly. In the store, you’re able

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to see the finished, assembled piece. But when you walk out, you’re given each item in bits and

pieces because it’s easier to put in your car and take home.

Affordability

The effectiveness of Tech-Infused Table products is the true strength of the brand. Maintaining

that same level of cost-effectiveness is what keeps customers coming back for more. The

company offers the product to niche market segment.

The company searches for new ways to drive down costs, but without affecting the quality of

their products that the consumers have expected.

A supplier’s dream

TECH-INFUSED Table is able to buy bulk quantities of products because of a long lasting

relationship with their suppliers. For Tech-Infused Table, buying large quantities is cheaper

than buying a few pieces at a time. It’s also great for suppliers. The suppliers don’t have to

worry about large quantities of inventory taking up space in their warehouses.

Weaknesses:

Tech-Infused Table products are known for being the best automatic products. This seems to be a

byproduct of offering expensive products. How can it be affordable for niche market? TECH-

INFUSED Table has yet to find a solution.

The Procurement of funds and distributing among the various stages to the development of the

product is not an easy task as it had limited funds at initial stage.

Opportunities:

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Tech-Infused Table is whole new concept in India. They can branch out further, as there is great

market of smart home solutions in India. This is the new product line as these automated

furniture is new to the market so this is the opportunity for this smart furniture.

Online shopping

Additionally, you can purchase Tech-Infused Table products through their website and other

ecommerce websites like Amazon and Flipkart as Online shopping is becoming more popular

nowadays.

Tech-Infused Table is in a firm spot to accentuate their sales by offering more products online.

Considering the company has more than 1 million online visitors, it’s definitely a sales channel

which Tech Table can focus more efforts into.

Stores, offices, homes

With the growing demand for space saving concept, Tech-Infused Table can push its furniture

businesses into bigger stores or offices.

Technology Uses

The Tech-Infused Table is patented technology and cannot be taken so far, all the technologies

used are affordable and easily accessible and easy to maintain and long lasting product in

comparison to the amount customers will be paying to buy the furniture.

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Also the linear actuator technology used in the product to lift the table, which is not used in

furniture segment till date and also it’s power to lift is around equal to weight of 3 men of normal

weight, the motor will be the USP of the product.

Threats:

Some of the threats of the Tech-Infused Table brand are;

Fast competition

The competition for furniture products is growing. We’re seeing global brands like IKEA and

Pepperfry offering inexpensive home products. Although their catalogue isn’t as creative and

technological advance as Tech-Infused Table, that may only be a matter of time.

Other competition who can enter to this field would become big threat to the business, for

instance China who can provide this technology at very cheap prices but still Smart table will

still have the competitive advantage against it in terms of quality product.

To save themselves from such situations Tech-Infused Table has personalized and market tested

certificates which will be taken from fully organic segment.

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ORGANISATIONAL FEASIBILITY
Organizational feasibility focuses on how well a proposed information system supposes the

objective of the organization and its strategic plan for an information system. This may include

information about the founders, their professional background and the skills they possess

necessary to get the company off the ground and keep it operational. It also determines whether

the new system will have enough support from participants to be successfully implemented and

whether participants can operate the system.

Centralized vs. Decentralized Organizational Structures

An organizational structure is either centralized or decentralized. Traditionally, organizations

have been structured with centralized leadership and a defined chain of command. The military is

an organization famous for its highly centralized structure, with a long and specific hierarchy of

superiors and subordinates. In a centralized organizational system, there are very clear

responsibilities for each role, with subordinate roles defaulting to the guidance of their superiors.

There has been a rise in decentralized organizations, as is the case with many technology

startups. This allows companies to remain fast, agile, and adaptable, with almost every employee

receiving a high level of personal agency.

Here we are using a decentralizing approach of the reason it provide mobility, it provide ability,

it provide digital technology it can be used as a simple table or it can be use as a new technology

which provides as charging capability, space for equipment’s and in many ways it can be used. It

can also be perform task individually, or multiple purpose.

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 Management Process (5M’s of Management)
 Manpower: Evaluate the existing skills and knowledge within the organization

to determine if there's a workforce capable of supporting and utilizing the smart

table technology effectively.

 Machinery/Technology: Assess the current technological infrastructure and

determine if any upgrades or additions are needed to integrate and maintain

smart table systems.

 Materials: Consider the physical resources required for the implementation and

maintenance of smart tables, including any specialized materials or components

needed.

 Methods/Processes: Review existing business processes and workflows to

identify how smart tables can be seamlessly integrated. Ensure that the

introduction of this technology aligns with efficient organizational practices.

 Money: Examine the financial feasibility of incorporating smart tables, including

initial investment, operational costs, and potential returns on investment. This

involves budgetary considerations for procurement, implementation, and

ongoing maintenance.

Analyzing these 5 M's can provide a comprehensive understanding of whether the

organization is ready for the adoption of smart tables from various perspectives.

Types of Organizational Structures

Flat (Flatarchy) Structure and Network Structure

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Flatarchy, also known as a horizontal structure, is relatively newer, and is used among many

startups. As the name alludes, it flattens the hierarchy and chain of command and gives its

employees a lot of autonomy. Companies that use this type of structure have a high speed of

implementation.

The network structure organizes contractors and third-party vendors to carry out certain key

functions. It features a relatively small headquarters with geographically-dispersed satellite

offices, along with key functions outsourced to other firms and consultants.

Finding, recruiting, and hiring new employees is a crucial part of a startup’s early growth. Your

first new hires will play a critical role in shaping your company’s future. Thus, it’s important to

be intentional about finding the best employees for your startup.

Hiring great employees is hard for any business. For startups, it’s often even more challenging.

Startups don’t usually have the hiring resources of big-name companies like Google, Facebook,

and Microsoft. For these big-name companies, the best candidates are lining up to submit their

applications.

Startups, on the other hand, have to actively find and recruit many of their potential hires. The

hiring of a highly-qualified candidate to choose your startup over all their other options can be

difficult.

Here we are using a new product a new product organizational structure of this company develop

in a new manner here we are using a combination of hierarchy structure and network sources and

we are also outsourcing some of the resources and we are also following chain of command

because our company has core member who has a knowledge of the product and they will

delegate all the responsibilities in according to there definition.

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Management Prowess

Management Prowess is the overall management skill of a management team or a solo manager

in general. The word “Prowess” is the expertise or skill of getting something done well.

“Management” would be anything that requires managing when it comes to business.

Custom furniture is an effective, niche-oriented it can be managed as per the customer view point

and it can be maintained for effective use.

Resource Sufficiency-

Resource sufficiency is the second area of organizational feasibility analysis is to determine

whether the proposed venture has or is capable of obtaining sufficient resources to move

forward. The objective is to identify the most important nonfinancial resources and assess

whether they are available. An example is a start-up that will require employees with specialized

skills. Another key resource sufficiency issue is the ability to obtain intellectual property

protection on key aspects of the business.

The goal is to determine which non-financial resources are most significant and whether they are

available. A start-up, for example, will want personnel with specialized expertise. Another

important issue of resource sufficiency is the ability to get intellectual property protection on

critical company components.

Type of Resources List of required Resources Method of acquisition

Physical Resources Building/Production unit Rented

Machinery/Equipment Rented/Owned

Furniture

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 Human Resources Rented/Owned/Second-hand
Product manager
Hiring
marketing

manager Website

handler

Labours /Electricians

Finance manager
Reputation Resources furniture __

Know-how Resources Knowledge about Hiring experienced and trained

automated employees
constructing

systems

Engineers

Human Resources:

Human resource is the core of every business. Without the people, Tech-Infused Table cannot sustain.

NUMBER OF STAFFS & THEIR SALARIES

PARTICULAR NO. OF EMPLOYEES SALARY OF STAFF

LABOUR AND 4 MEMBER IN EACH 20000 PER TABLE

ELECTRICIAN TEAM

PRODUCTION MANGER 2 70000

MARKETING MANAGER 2 80000

WEB DESIGINING AND 4 (FREELANCERS) 40000

MAINTANANCE

ENGINEERS 5 200000

LEGAL ADVISIOR 2 60000

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 Other Expenses:
S. ITEMS PRICE
NO.
1 LINEAR ACTUATOR 6000

2 RELAY BOARD 2500

3 LABOUR 15000

4 SPEAKER 5000

5 GERMICIDE LIGHT 2000

6 TOUCH SWITCH 5000

7 BIO METRIC SENSOR LOCK 4500

8 WOOD 4500

9 PROFILE LIGHT 4000

Reputation Resources:

We have selected Kanpur to establish the manufacturing unit for Tech-Infused Table. We have

Patented the product under our name and all the legal obligation have been done.

Know-how Resources:

Nothing can replace the knowledge of the industry that the business is in. As a Startup, there are

difficulties in understanding laws and regulations in India. Especially when the situation is as

complicated as described in PESTEL analysis. Hence, we took help from Government scheme

websites and hired a business litigation lawyer to take care of the paper work and bureaucratic

process.

Moreover, there is constant need to learn and exchange information of the technology industry to

keep up with the latest innovations.

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FINANCIAL FEASIBILITY
A financial feasibility study is essential tool used to introduce outsiders to your business plan.

The study details the amount of money necessary to fund the project, along with where that

money is coming from and how it will be spent once it is acquired. This assessment of potential

cash flow can often reveal undiscovered issues with the business plan and guide you towards

jumping over those hurdles.

Further into the business plan, a thorough financial analysis has been conducted, at the early
stage of this business idea for 100 units of table in a financial year.

OWN MANUFACTURING UNIT

S NO ITEMS COST EXPLANATION

1 COST OF LAND 150 YARDS 2250000 RS 15000 PER YARD
2 COST OF BUILDING 1440000 RS 200 PER SQ FT
3 COST OF MACHINERY 274927 REFER MACHINE
4 COST OF SECURITY GUARD 120000 2 SHIFT 2 GUARDS
5 MAINTANCE COST OF MACHINERY 10000 OILING AND
DUSTING
6 ANNUAL COST OF MAINTAINING UNIT 5000 TAX AND OTHER
7 SOLAR PANEL 5KW 500000 5KW SOLAR PANEL

CAPITAL REQUIREMENTS

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A business requires capital to purchase assets, acquire required resources and operate. Capital

exists in many forms such as equipment, office, cash, and inventory. New ventures need to

determine how much capital they need to start and run the business in the first year.

For the initial starting of the Tech-Infused Table the amount of capital that is required to be

invested in is approx. 2 crore rupees.

And to fulfill this capital requirement there are several alternative options such as;

• To borrow loans from banks or investors to carry out the operations.

• To raise our own fund by establishing a new business idea where we don’t need to borrow

any sum of money for the business.

For our business we have came up with a new business model, where we will be attaining
capital required through our sales only.

PARTICLUARS AMOUNT

COST OF PRODUCTION 80000

PROFIT MARGIN 68% 170000

TOTAL COST TO CONSUMER 250000

GST 12% 30000

FINAL PRICE 280000

Since it is a new innovative product and has no competition in the market, hence the cost of

the table after taxes is mention above.

Hence the profit margin is high in our company we will carry out our operation through the

same profit and only go on to loans and investors for fund if feels necessary.

COMPUTATION OF RETUREN ON INVESTEMENT

ROI = CAPITAL EMPLOYED/PROFIT MARGIN

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ROI = 20000000/170000

ROI = 118 UNITS.

Hence in order to get return on investment we have to sell 118 units of smart table in a financial

year.

MARKET FEASIBILITY
The term “market feasibility” refers to the process of assessing the feasibility of a new or

enhanced product. This is done to understand the behavioral patterns of consumers and the way

in which consumers expect the services and goods to be delivered. Not only do businesses want

to gather information about consumers based on their products, but they also look at how the

markets are changing and market influences that would change their decisions and decisions of

their consumers.

The Purpose of Market Research

the chances Even though the process of going through market research is time consuming and

may result in extra costs, it eliminates of companies making bad decisions and launching

products or services that would not economically benefit them or satisfy any consumers.

4 P’s of Market Feasibility:

The marketing mix is the most essential instrument for management in developing a marketing

strategy and selecting effective strategies. Product, Price, Place, Promotion, Physical Evidence,

People, and Process are the seven basic components.

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Product:

Identifying and anticipating consumer needs in order to achieve customer satisfaction. You need

to consistently ensure that the goods and services you’re providing are directly addressing the

needs of your target market to the best of your capability. Market analysis is primarily concerned

with the aggregate demand of the proposed product/service in future and the market share

expected to be captured. Success of the proposed project clearly hinges on the continuing support

of the customers. However, it is very difficult to identify the market for one’s product/service.

This product has been developed further to cater the need of customer by adding addition

features.

Customer can choose the feature in accordance to their need and which would result in changes

in price of the product. May get high and may get low.

Features like :-

1. Table lift mechanism with ALEXA or GOOGLE assistant

2. Socket lift mechanism with ALEXA or GOOGLE assistant

3. Touch switches to operate table

4. Illuminated logo with customized name of the customer

5. Hidden wireless charger

6. High quality 3d surround speaker

7. Gesture control germicide light

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 8. Thermostat internal and external

9. Profile light with brightness control

10. Gift hamper (decanters glass and other items)

This is the most unique product that has not been introduced to the Indian market before. An

INDEGINEOUS product which provides functions listed above solves the day to day problem of

storing and accessing the domestic items hassle free in the most convenient manner.

Automatic space saving concept compatible with current voice assistants, which makes it a

combination of mechanics and IOT features.

Thus, Tech-Infused Table will cover all the elements which are-

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 Design

Customization Features

Quality Durability

After Sale
Services

Place:

Place for selling this product will be metropolitan cities or smart cities or tier 1 cities, because in

tier 1 cities people accepts technological advanced product easily and quickly as this product

may give a sense of a social status symbol to the respective user’s.

Number of bars, hotels, smart hubs which will attract more visitors for the product, also a large

population that have high degree of economic and social integration, so they can invest in a

better future. Also there are several restaurants through they can provide possible comfort and

ease of access by this smart table to their customer. This product will provide a opportunities to

various sectors of market in order to enhance their environment into technologically upgraded

environment.

Price:

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It is a controllable and variable element of the marketing mix. Studies shows that pricing hold a

big influence of competition therefore business strategy itself not enough to set a fix price to

generate the target profit.

Price is a value of product in the reflection of money which a customer or end user agreed to pay

for their product or service. When management determines the price, it considers the cost, raw

materials, labor and other expenses. Pricing strategy that used are;

Setting the price objective:

• One strategy is to give the customer other competitors price for better and unique product and

then showing the sale price of our automatic Tech-Infused Table. This can give customer a

real sense of saving.

• On the other hand if we give the price of Tech-Infused Table which is more expensive

conveys the message that your customers are paying more because they are getting more.

• Also presenting the Tech-Infused Table as an long term investment with multiple benefit,

create a goodwill of a company.

• Should not use the material which is too expensive in making the table that the prices touches

the top and further it would be difficult to persuade the customers.

Determining Demand:

Automated Tech-Infused Table has greater demand-

• There is a large number of options to buy this either for personal, professional or commercial

use along with the facility of free delivery

• Also customers like hotels and restaurants, purchase comfortable & aesthetically superior

furniture. The rise in the number of hotels, restaurants and tourist spot so it is expected to

accelerate the growth of automated Tech-Infused Table in the next 5 years.

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• Increasing urbanization and growing demand for luxury furniture, it is expected to create

attractive growth opportunities for Tech automatic table because it is a level up than any

premium furniture.

Analyzing competitor’s price:

There is no close competitors of Tech-Infused Table in the market of India, we are the only

company which is dealing in this kind of innovative and unique furniture as we are launching a

new product segment, in accordance with the marketing concepts when a new product is

introduced in the market, to understand the pulse of the market, the value of the product is

determined by using the Customer Perceived Value Pricing Method, henceforth here in this

product will be using the customer perceived value method to set the price by launching the

product through an effective marketing campaign of releasing a teaser to understand the

customer perception towards this product.

Customer Perceived value pricing:

A customer values is always beneficial for any brand,

1. Total customer value

2. Total customer cost

3. Total satisfaction occurred

We have used above mentioned methods to increase our customer’s perceived value for Tech-

Infused Table, by generating demand of our product, it’s quality and benefits which will meet

the customer’s expectations.

Promotion:

Paid Ads:

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Paid ads come in a lot of different forms, but here are a few of the most commonly used kinds to

put our concept forward.

Paid Search:

Through paid search we can put our furniture to the search engine optimization .
Paid Social:

Paid ads on social media can help you reach targeted audiences by setting parameters about the

demographics who will see the advertisement through these mediums we place our product to the

market.

STP- Segmentation, Targeting and Positioning:

1. Segmentation: Niche

marketing:

A niche market is the subset of the market on which product is focused. Main focus of the tech

furniture is the corporate, farm houses, bungalows and upper medium income level and high

income level people.

• Demographic – By personal attributes such as age and income we have segmented our

customers, as the product targets the customers who are young and tech-savy and those who

have high income.

• Geographic – we have choose the metropolitan cities for geographic segmentation as our

most of the target audiences resides in these places.

• Psychographic – By personality, risk aversion, or lifestyle we have targeted the customers as

innovators and early adopters who are very keen to adopt new technology which is unique in

nature.

Initially Tech-Infused Table will focus as a Socio-Economic segmentation base in consumer

Markets as it will have a concentration on social class particularly the segment who want
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modular and technological advanced homes. Tech-Infused Table will segment its market by

geographic and demographically by selecting the store location where they can find the educated,

adaptable to innovation and sound income level people.

2. Targeting: After a company has defined market segments, it can enter one or many

segments of a given market and should make decision about how many and which customer

groups to target. Target Marketing is a process of evaluating each market segment’s

attractiveness and selecting one or more segments to enter (Kotler and Armstrong, 2006).

The concept of target marketing is a logical implication of the basic philosophy of marketing.

And here for this product we will be targeting the concentrated marketing as this product at

the stage of beginning caters only niche segment customers

A Company should target segments in which it can profitably generate the greatest customer

value and sustain it overtime. Tech-Infused Table wanted to develop a reputable relationship

with the customers, Most of companies enter in a new market by serving a single segment,

and if this proves successful than they add more segments, initially Tech-Infused Table will

do the same thing targeting the people with facing space shortage at home to fit furniture.

3. Positioning: It refers to adding the place you want your brand or product to have within a

particular target market. Smart furniture will position itself as a lavish and worthy brand. As

it is worthy and fulfilling on the same range. For example- DINING TABLE on same price

range with extra automated features.

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CONCLUSION
This Project report concluded the feasibility study. The study’s objective is to evaluate the

viability of a Tech-Infused Table in metropolitan cities in India. This is an important step before

create a business plan. First, there is a clear structure of the business ides is provided in abstract.

Then, Business importance and relevance are defined.

Second, the project explains related theories such as PESTEL, SWOT, financial and resources

theory, including business idea, business concept, product feasibility, industry and market

feasibility, organizational feasibility and financial feasibility. Furthermore, the project report also

includes the concept of the construction company to give readers a clear picture of the business.

Third, the theories are applied effectively into empirical research. Primary data is utilized to

provide in depth analysis of industry and market, organization as well and financial

requirements. Then, primary data is collected through focus group. The primary data discovers

product feasibility and relevant laws and regulations with the Tech-Infused Table.

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BIBLIOGRAPHY-:

• Marketing management by Philip Kotler and Kevin lane Keller

• PESTEL analysis by Francis Aguilar

• SWOT analysis by Albert S. Humphrey

• The start up from opportunity to feasibility study to business class by F. lee frye

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