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Entrepreneurial Opportunity – Recording

Essay by   •  February 21, 2019  •  Coursework  •  683 Words (3 Pages)  •  42 Views

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Entrepreneurial Opportunity – Recording

3. Target segment benefits and attractiveness

The market which we are looking to penetrate is that of the Health and Safety devices for people with disabilities. Specifically, our AVAR Kit is addressed to those individuals suffering from visual or hearing loss.

It is essential for these people to own specially-designed smoke alarms for their safety in order to have the right amount of time to escape in the event of a fire. Disabled people rely on their senses and factors from the surrounding environment such as vibrations, audible or visual alerts (depending on their impairment).  

According to the British Deaf Association, it is estimated that 9 million people in UK suffer from partial or complete hearing loss, and over two million people have reported sight loss. Considering that there are 66 million people living in UK, our target segment represents almost 14% of the population.

The number of blind or deaf people is predicted to double by 2050 due to population ageing; as we get older, we are likely to experience sight or hearing loss. Moreover, the number of people with fundamental causes of sight loss, such as diabetes and obesity, is rising. In 2016, the hearing aids segment had the largest market share.

The AVAR SOS Kit is an alarm system designed especially for blind and deaf people. The kit consists of:

  • The main alarm device which can be plugged into a power supply (socket), and also comes with a built-in battery for unexpected power outages.
  • The smoke alarm with additional sensors for gas leaks and fire; it needs to be fit on the kitchen ceiling.
  • The doorbell.
  • The telephone, with Braille alphabet keypad for the blind persons.
  • The bracelet which is chargeable by the heart rate (pulse).

All four devices are connected with each other through wireless internet and at the same time, they are linked to the nearest hospital and fire station, depending on the home address of the customer using the kit.

However, the way our system differentiates from the similar products of our competitors is the addition of the bracelet inside the kit. It is suitable both for deaf and blind people at the same time. For individuals suffering from hearing loss, it incorporates four flashing LED buttons, each of them having a different color that represents a different alert. On the other hand, all four lights have different geometric shapes that help blind users feel what kind of alert has been activated. These alerts also generate a certain vibration pattern because, for example, deaf people cannot respond to an audible alert, or the specific alert could trigger during the night, while they are sleeping.

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