Product Development Plan For the creation of Electric Vehicles and their Unique Selling Point present in the vehicle and how those features could be utilized to aid in its Sales.

Assignment Taken

Product Development Plan and The USP's present in vehicle to increase sales

Case Understanding

• Renewable Energy is the imminent future. World will totally run upon renewable energy in the future. Thus Technologies derived from these have a great scope and market in India. • Every sector is implementing renewable energy into its core functionalities and automobile sector is also one of them but it is in its initial stage. • total number of registered vehicles in India is 230 Million and number of vehicles in India is rapidly increasing along with the over dependence on fossil fuels. Thus a need arises from for efficient transportation using Electric vehicles. Government is taking initiatives to Promote electrification of vehicles in country. • Government is planning for 30% adoption of Electric vehicles by the general Public by 2030. • The team of Budding Entrepreneurs have decided to foray into this futuristic venture of electric vehicles. • A fund of Rs 46 Lakh is available pooled by all team members as personal investment & additional loan of Rs 60 lakh can be arranged at fixed rate of interest-16%. • A coworking space for 8 people is acquired by the start-up at a monthly rent of 3000/Workstation. Team include mechanical engineers, electrical engineer, 1 computer science graduate. marketing background, management graduates Every member draws monthly salary of 50,000 with. • Engineers of the team during their time in engineering have already created a prototype of thew Electric Vehicle.

BCS Solution Summary

Product development plan involves various necessary phases and steps. • First of the step is the ideation phase where a lot of brainstorming happens and a design of the product is created. • Then comes the construction phase where the product is built upon based on the final design . • After this vehicle will be put under simulations where its performance will be judged and if changes are required if the vehicle is lagging at any point then these changes will be implemented. • Then comes the final testing part where each and every component of the vehicle will be tested before it is sent for distribution. • Then industrialization of the product will occur and and after manufacturing vehicle will be moved to the warehouses. Unique Selling Point of the vehicle will be :- • Environment friendly • Pollution free • Cost Effective • Convenient and easy to use • Best Product at most affordable Price • Vehicle Utilizes highly advanced digital technology like Artificial Intelligence • Advanced IOT enabled features like automatic locking, Theft alarm etc.

Solution

Product Development Plan

Product Necessary Requirement:

• Safe: The Product should be safe to use and being electrical shouldn’t cause any perceivable damage to user.
• Rugged- Should Cover its cost and must be durable enough so as sto be perceived as a long term investment.
• Environment Friendly- Shouldn’t cause any Pollution and should no pose to the environment.
• Technology Oriented- Should be Properly aligned with the technology and should be having advanced Technological features.
• Efficient- Should be efficient enough and should not require very much of the Power
• Easy To Use- Should be convenient and easy to use so as the normal consumer can easily utilize it.

Stages

Ideation and concept

First of all a concept is thought upon and prepared. This is where the outlines of the process and framework conditions for the vehicular segments , technology, deadlines markets, costs and potential profitability are determined and defined. From a technical perspective, the drafting of a vehicle concept involves packaging conducting a potential safety analysis, developing a body-in-white structure concept and aerodynamics values and defining the production technology. Designs are created based upon the ideation. To ensure the success of the product, Benchmarks are defined and a proper competitive analysis is done to ensure perfect design.

Construction Design

         After the ideation comes the initiation. In this phase of the product development process Designs and concepts will be turned into practical Models by the engineers. CAD Programs will be used to create perfectly detailed designs which are used as templates for the production of initial models and prototypes. In the construction design phase product cost optimization also plays a vital role. To obtain a appropriate and optimal solution from the economic and technical point of reference engineer will continuously modulate the product until it becomes perfect.

Simulation and Calculation

During this phase, Before the test begins engineers will gain relevant insights from the characteristics and initial performance of the vehicle. The developments will be put through a variety of situations virtually which will enable the calculation and simulation experts to optimize and tweak a variety of system parts and components developments early in the process and thus generating a fully functional and cost optimised solution.

Testing

At each of the development step, every component, the body, engine , electrical /electronics part, chassis, or the complete vehicle, is tested and modulated under realistic conditions. Entire vehicles and the individual components are tested for durability and must withstand the toughest conditions put forward. Whether on the test bench or on the testing grounds , Engineers will work to obtain the absolute optimum result extracted from the earlier developments.

Industrialization

In the final phase of the product development process, the developments will be transferred to series production. Series production capability of each component will be taken into account during development and to implement relevant considerations. The process will outsourced to relevant companies which will finally deliver the industry ready to use Product. Then through proper distribution Channels Product will be shifted to Proper company warehouses from where it will be utilised according to needs.

USP

• As time will go on fossil fuels will deplete gradually thus the Petrol Prices are gonna sky high in the future thus there will be a humongous need for Electric vehicles thus our Product comes as a cost effective and convenient solution for this.
• Batteries of the Product will be easily rechargeable at home thus consumers will not face any hassle of standing in long queues for fuel thus a more convenient option.
• Vehicle will be a complete Environment friendly one and will cause no pollution as such or pose any threat to the environment.
• Vehicle will be best for the short commute and will be very quick as major metropolitan cities are very crowded now there is very less space left on the roads, there is lot of traffic jams thus these compact electric vehicles will aid in all this as they require very less space to move across.
•  As vehicle is being manufactured using highly advanced Technologies thus it will be the best quality Product at a most affordable Price.
• Vehicle will be lined up with advanced Technologies like Machine Learning and Artificial Intelligence based Digital Interfaces.
• To make the vehicle more advanced IOT is used to automate some of the features of vehicle For ex automatic locking, Theft alarm etc.
• Emphasis is also given on Product design so as to increase its aesthetics and the style quotient so as attract more consumers and increase sales.

Conclusion

• Thus in conclusion the vehicle design phase requires various of the necessary stages. • Whole Process of development goes in a sequential manner in such a way that no stage gets missed. • Appropriate and ample amount of time is spent on each stage of development process so as there is no discrepancy or defect in the final manufactured product. • A proper balance is maintained between all the aspects of the Company and product is developed keeping in mind the considerations of all of the departments financial, marketing ,technology and the leadership.. • Along with the performance factors emphasis is also on the digital and the aesthetics factors of the electric vehicle. • Whole product is developed keeping emphasis on the Unique selling Points of the vehicle decided preemptively.

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