MINI PROJECT REPORT

On

“POWERBANK KEYCHAIN”

Towards partial fulfillment

of Master of Business
Administration (MBA)
(Affiliated to DR. A.P.J. Abdul Kalam Technical University, Lucknow)

Submitted to: Submitted By:

Dr. Ved Prakash Sinha Shubhu Shree Das
(Assistant Professor) MBA 1st Semester
BBDITM, Lucknow Roll no-2200540700085

SESSION 2022-2023
DEPARTMENT OF MANAGEMENT

Babu Banarasi Das Institute of Technology & Management

Sector1, Akhilesh Das Nagar, Faizabad Road, Lucknow (U. P.), India
 DECLARATION

I hereby declare that the field work entitled of POWERBANK KEYCHAIN submitted to the

university is a record of an original work done by me under the guidance of Dr. Ved Prakash

Sinha (Assistant Professor) (BBD ITM, Lucknow) and this Mini report is submitted in the

partial fulfillment of Master in Business Administration.

Shubhu Shree Das

MBA 1st Semester
Roll no-2200540700085

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 ACKNOWLEDGEMENT

I would like to express my special thanks of gratitude to our H.O.D. . DR. Pooja Bhatia who gave

me the golden opportunity to do this wonderful opportunity to pen down a innovative business

plan and also helped me in doing a lot of Research and I came to know about so many new things I

am really thankful to him.

I am highly indebted to my Faculty guide Dr. Ved Prakash Sinha for their throughout guidance

and constant supervision as well as for providing necessary information regarding the project &

also for their support in completing the project.

I would like to express my gratitude towards my parents & my college mates for their kind

cooperation and encouragement which help me in completion of this project.

However, it would not have been possible without the kind support and help of many individuals

and organizations. I would like to extend my sincere thanks to all of them who have willingly

helped me out with their abilities.

Shubhu Shree Das

MBA 1st Semester

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 PREFACE

I respect to the allotted project, I have inherited myself as an entrepreneur in this organization

but informally it is a sacred place for me as it’s my first practical exposure to an organization to

know and get aware to an organizational real practical stressful environment. Although I am

student of MBA It is a two year full time degree courses. So far this training is scheduled for

first semester syllabi of AKTU i.e. (Mini Project) as a separate topic to be asked in detail in

viva-voce conducted by external Thus study will provided me a better opportunity to survive in

cut throat competition with a prosperous existence. I have tried my best to gain out of well

framed circumstances & with the help of experienced personnel who helped me out so for

become possible to them. As being a very confidential functioning, many things are there

which can’t be known but on the basis of gathered information and certain hints, the project

has been formed. It may have something missing but I have tried to present all things what I have

received. Although this report has been got checked by different personnel but after that if there

is some shortcomings, I expect it to be rectified. So, the whole study bifurcated in different parts.

Certain observations & suggestions also have been statedwhich if possible to be reviewed.

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S.NO CONTENT PAGE
NO
1 DECLARATION 2
2 ACKNOWLEDGEMENT 3

3 PREFACE 4

4 TABLE OF CONTENT 5

5 EXECUTIVE SUMMARY 6

6 INTRODUCTION 7

7 PRODUCT DETAIL 8
8 OBJECTIVE 10

9 NEED OF INNOVATION 11

10 SOURCE OF IDEA 26

11 PROTOTYPE 27
12 USES OF THE PRODUCT 28

13 COMPETITIVE ANALYSIS 29

14 SWOT ANALYSIS 30

15 TEACHINICAL FEASIBILITY 31
16 MARKET ANALAYSIS 33

17 COSTING AND PRICING 36

18 FINACIAL FEASIBILITY 38

19 LIMITATION 38
20 OTHER POSSIBILITY OF FURTHER INNOVATION 39

21 CONCLUSION 43

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 EXECUTIVE SUMMARY

As a part of MBA curriculum, I have prepared a mini project on DESIGN THINKING and the
name of my topic is POWERBANK KEYCHAIN. I have selected this topic to enhance my
knowledge and overall thinking power.

The main objective behind this project was to gain knowledge about the different fields that is
market, finance and recent trends in the market.

The first part basically covers the introduction and details about product that is what is product all
about, its objectives, uses, needs.
The second part contains details about the segment, costing, pricing,
And the last part contains details about the finance, limitation and other possibilities of further
innovation.
POWERBANK KEYCHAIN
The key ring will help you to detect the keys or the items attached with it throughPOWERBANK
OBJECTIVE OF INNOVATION
To bring something new and come up with new ideas and technologies that increases the
productivity.
NEED OF INNOVATION
To maximize ROI and increasing productivity
COSTING AND PRICING
I have followed various costing and pricing strategies ( penetration and skimming pricing
strategies).
COMPETITIOR AND SWOT ANALYSIS
To find out who are your competitors? And how your product differs from others? SWOT analysis
is also done to find out strength, weakness, opportunity and threats SOURCE OF FINANCE
Two source of finance that is from SBI and IDBI BANK

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 INTRODUCTION OF THE PRODUCT
POWERBANK KEYCHAIN that you can take anywhere you go to re-charge your mobile on the

go. The power bank comes with integrated 3 in 1 (IOS, Micro, type C) charging cable so it can

charge any device on the market directly. Made from ABS material with TPE cables. The portable

power bank has a strong carabiner ring to attach to either your keys or a bag. Including torch with

strobe function. The power bank contains a long-lasting grade A 1.200 mAh lithium polymer

battery. Input 5V/1A; Output 5V/1A. Including PVC free TPE material micro USB

cable.

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 PRODUCT DETAIL DESCRIPTION
Keychain Power Bank. Specifications: Net Weight: 110gset Size: 97 x 24 x 24mm Capacity:

2600mAh Input: DC 5.0V - 0.8A Output: DC 5.0V - 1A Battery type: 18650 Lithium-ion battery

Color: Blue, Green, Pink, Yellow, Black, White Compatible with Apple, Samsung, LG, HTC

etc. Fit for all mobile phones with your own USB charge cable. Features: 1.Pretty & fashionable,

shows good taste. 2.Perfumed, relieves pressure and makes you joyful. 3.Long service life, more

than 500 times the charging and discharging. 4.Good assistant, no more worry about your

business trip traveling etc. 5.Portable & small, convenient to carry, charge your mobile phone

wherever you go. 6.With a key chain, hung in the handbag or backpack is very nice and

convenient to get. Instruction: 1.To charge digital devices: Simply use the matched USB

cable to charge digital products. One end of the USB cable connect with the "OUT" port of the

power bank, another end connect with the digital product with converted tip, it will start to charge.

2.To charge power bank

: Use USB cable with Micro connector to charge power bank, the "IN" port is the charging port

of power bank. You can charge power bank from adapter's USB or charging from computer's

USB. Package Included: 1 x Key Chain 1 x Mobile Power Bank 1 x USB

Charge Cable Shipping

Cost of Product
Price of 2000 mah lithium-ion battery = 50
Price of Circuit and Type - C pin 20-40
Price of plastic casing and led = 20-30
Total Cost = Around 100
Selling Price = 300 to 500

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OBJECTIVE OF INNOVATION

The objective of innovation is to come up with new ideas and technologies that increase
productivity and generate greater output with the same input. Without innovation, there is not
anything and without anything new there will no progress. Innovation is really a core of any
business for modern existence.

The main objective of my idea is to enhance my overall knowledge and capability to think
something new and to bring innovative ideas that will add something extra to the society inwhich
we are living.

Following are some of the key point about objective behind this innovation: Competitive
advantage
To increase overall productivity
To maximize ROI
To find the things easily with one click—this is one of my main motive behind this
innovation. We mostly tend to forget things easily so what if these things are easily find out
Without any much efforts.
easily track
To save time
To bring easy access
To create new market
To increase demand
To bring opportunity
To differentiate it from others
To build customer loyalty
To identify savings potential
To achieve revenue potential
To accelerate exploitation of new business ideas worthy of pursuing
To a build climate and culture of innovation as per the organization's innovation mission
To become a leading innovation brand for products and services in the markets served.
To improve and expand current products and services
To access new technologies
To identify market trends
To improve product quality and associated core processes
To improve customer attraction
To develop new competencies

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 NEED OF INNOVATION
Need of innovation arises because innovation increases the chance to react to changes and
discover new opportunities. It can also help to foster competitive advantage as it allows you to
build better products and services for your customers.
Some of the needs of the innovation are:
Maximize return on investmentIncreased productivity
Positive impact on company culture---innovation also has a positive impact on company
culture as it increases the ability to acquire, create and make best use ofcompetencies, skills
and knowledge
Advancement of technology ---Advance technology have also created a need of this type of
product because every things are being advanced like smart watches Thinking ability ---
Thinking ability of the people has also created a need of the product.
Economic growth Increased well-being
Communication and educational accessibilityEnvironmental sustainability
Creative development Continuous improvement

Key rings with POWERBANK is the need of today’s era where things have totally changed. This
key rings not only help to find the keys but also help to find the items attached with the key
ring(bags) with the help of the tracker.
One need not need to worry if their keys are lost or stolen they can easily find out the keys with
this key rings.
Need arise because we mostly tend to forget things specially keys in hurry schedule and in the
market we get the normal key rings with different types of character attached to it but this key is
different from the other.
Power banks are used for providing portable power to charge battery powered items like mobile
phones and other similar items that have a USB interface: they can charge via USB, etc or
wirelessly. Power banks are commonplace and with our increasing use of battery powered
equipment: everything from mobile phones to battery powered headphones, portable speakers,
MP3 players can be charged via a power bank. They are effectively a portable charger. All they
need is a USB charging interface. Power banks come in a variety of shapes and sizes and to suit
many different people and their needs. In recent years, the use of power banks has risen
significantly as they provide a very convenient and easy method of charging smartphones and
other devices when away from mains power. Wireless charging power banks have also been
introduced for those devices that can be charged wirelessly.

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POWER BANK DEFINITION
Power banks, sometimes speed as power banks, can be defined as portable batteries that use
circuitry to control any power in and power out. They can charged up using a USB charger when
power is available, and then used to charge battery powered items like mobile phones and a host
of other devices that would normally use a USB charger. The name power bank can be likened to
a financial bank where funds can be deposited, stored, and withdrawn when needed. These items
are also often referred to as portable chargers, as they can charge items like mobile phones
without the need to be connected to the mains during charging, although they will need to be
charged, and this normally requires a mains charger.

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 POWER BANK TYPES
There are a few different types of power bank portable charger that can be bought. Obviously the
size is one of the main criteria, but there are some other categories that can be considered.
The main types of USB power banks include the following:

• Universal or standard power bank: These are the normal power bank portable chargers which

are available in the stores and online. They are charged from the normal USB sources like USB

chargers.

These power banks are normally charged from a standard USB charger and there is some
indication on the power bank as to its state of charge. This may be a row of small LED lamps or
a simple alphanumeric display that indicates the charge level as a percentage of full charge.
Typically, a micro-USB connector is used as the power in connection.
Once fully charged the power bank can be used to charge other devices. There may be one of
more Type A USB sockets (dependent upon the particular power bank) that can deliver charge to
the devices needing charging.

• Solar power bank: As the name indicates, these solar power banks can use sunlight to charge

up. To do this they have photovoltaic panels. These are really only able to trickle charge the

internal battery when placed in sunlight because the solar cells are relatively small, but never the

less this can be a very useful function, but really only in verysunny or bright conditions.

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As the solar charging is slow, they can also be charged from a USB charger as well. The solar
charging is a useful back-up, especially if you are travelling away from mains power. To ensure
that the maximum amount of solar energy can be converted, some of the more advanced solar
power banks have solar panels that fold out to present a larger area to the Sun. Even so, it can
take over 24 hours to charge some, and as there obviously isn't bright sun at night, or even all
day, it can take a considerable while to charge. As charge times, capacities, etc. vary
considerably, it is always best to take a close look at the figures, if there is a possibility of buying
one. Like the standard wired power bank, these solar powered ones have standard Type A USB
connectors for the output or outputs and a micro-USB for the input from a USB charger.
Wireless power bank: With many gadgets like phones, ear-pods and the like now having the

capability to be charged wirelessly, this concept has been adopted by the power bank industry.

It is possible to obtain power banks that are themselves charged from a standard USB
source, but they are able to charge phones and other wireless charging compatible electronic
deviceswirelessly.

These power banks use the Qi standard that has been adopted by virtually all electronic devices
that can be charged wirelessly. The electronic device to be changed is placed on the power bank -
orientation is often important, so check with the instructions, a button typically has to be pressed
to turn on the wireless charging capability, and then it all proceeds until the device is charged. It
is best to turn off the wireless charging power bank once the charging is complete and then the
wireless charging circuitry is disabled and the power bank will not be discharged unnecessarily.

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 POWER BANK LIFETIME
There are two main forms of lifetime that are associated with power banks.

• Charge discharge cycles: Any rechargeable battery will gradually wear out. Normally the life

timeof a battery is quoted in terms of the number of charge discharge cycles it can undergo before

its performance falls by a given degree. Some cheaper power banks may only have a life of 500 or

so charge discharge cycles, but better ones will have lifetimes of many more charge discharge

cycles.

• Self-discharge time: All battery cells, whether rechargeable or primary have a certain level of

self-discharge. For rechargeable batteries these days with their own control circuitry, a small

amount of power is required to keep these circuits alive. As a result there is only a finite time that

a batterywill remain charged.

A good power bank can hold charge for up to 6 months with only a small loss of charge, but
lowerquality ones may only retain a useful charge for about a month. These figures are for room
temperature, but storing them outside these temperatures considerably reduces their performance.

POWER BANK CHARGE & CURRENT CAPABILITIES

The level of charge that can be stored in power banks has risen as the need has grown.
Smartphones are one of the chief items to be charged by them, and n recent years the battery
capacities have increased significantly to provide longer times between charge. Older power
banks had capacities of possibly 1000mA hours, where as some of the latest ones available can
offer huge capacities of 25000 mA hours. Also the current that can be delivered by them is large
as well. Often they can deliver 2.5A, enabling them to provide a fast charge for many electronic
devices.

POWER BANK BATTERY TECHNOLOGY

All power banks use rechargeable batteries based around lithium technology. Lithium-Ion and
Lithium-Polymer batteries are most commonly used for power banks but don’t be surprised if
other types start to hit the market before long. Battery technology is key to many new
developments: everything from mobile phones to electric vehicles, and as a result it is quite
likely there will be some spin-offs into power banks.

The two technologies that are currently used have slightly different properties:

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• Lithium-ion: Lithium-Ion batteries have a higher energy density, i.e. they can store more

electrical charge in a given size or volume, and are cheaper to manufacture, but they can have

issues with ageing.

• Lithium-polymer: Lithium-polymer power banks do not suffer from ageing to the same

extent so are a better choice. However they are more costly to manufacture and as a result

they may not suit all budgets. Sometimes it may be that it is best to spend less, especially if

they are likely to be accidentally lost.

Both forms of power bank work well, but it is a balance between cost and performance. Power
bank portable chargers are particularly useful as they enable battery powered items to be charged
on the go. As it is not always possible to reach a mains power point every time a mobile phone or
other battery powered item needs charging, these power banks are have now become an
established product and they are very useful, especially when travelling.

HISTORY OF THE POWER BANK

Power bank is a relatively recent invention, however it has come a long way ever since its
conception in 2001. From its initial rudimentary form of a couple of AA batteries and control
circuit pieced together to where they are now, with many different brands and features to choose
from. This one for example, is designed for stationary use where stop contact placement would be
awkward, great for drawing customer to your business. In this article, we will take an in depthlook
at where power banks have been over the years.

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Product concept formation stage (2001–2003)

Power bank is defined as a portable battery-powered device for charging the battery electronic
devices. At its initial conception in the Las Vegas International Consumer Electronics Show in
2001, it is nothing more than AA batteries and control circuit pieced together by a group of
college students. These power bank has a short cycle life and large size.

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 Market concept stage (2004–2006)

Huaqi officially launches the very first power bank products on the market, initially dubbed as
Engine Compartment . Around that time, market for power bank started appearing, with other
brands such as Aigo and Anyone being launched. The development in the applicable battery, IC,
management circuit and related technologies eventually made the power bank more advanced
and industry more developed. Domestic market shows promising response, leading companies to
branch out to foreign market.

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Market development stage (2006–2009)

More and more Original Equipment Manufacturer (OEM) companies entered the field of power
banks industries, breeding competition in the market. Furthermore, this was also the time where
smartphones started to enter the market. In 2007, Apple launched the iPhone, its stylish product
design and powerful software features took the market by storm. And in just a few years, the
iPhone as the first smart phone brand, grew to ship globally. Despite of all the hype however, the
iPhone is known to have poor battery capacity, with its built-in lithium batteries generally lasting
only four hours. This leads to an increase in demand for custom mobile power banks. Many
Apple authorized manufacturers and authorized mobile power brands that are known for
producing highly specialized iPhone/iPad mobile power begun to emerge. The iPhone external
battery development has become the trend. There were around 50 brands of power bank around
this period.

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Market growth stage (2009–2012)
The power banks market grew exponentially, with over 500 brand on the market. New research
and innovation lead to a competitive power bank market and we now have the different brands
and power options to choose from, making this device even more popular among people. Hope
you enjoyed reading this article. Give it a clap, comment and share this article to your friends
and families. Market growth stage (2009–2012)
The power banks market grew exponentially, with over 500 brands on the market. New
researchand innovation lead to a competitive power bank market and we now have the
different brands and power options to choose from, making this device even more popular
among people. Hopeyou enjoyed reading this article. Give it a clap, comment and share this
article to your friends and families.

Tips for Picking the Right Power Bank

Mobile Phones are all but a ubiquity in this day and age. It’s very often that we sneak a peek to
our phone whenever the situation allows it. Whether it’s to check a message notification,
replying work emails, watching YouTube, playing games, or simply surfing the web, it’s no
mystery why our activities are such a drain on our phone’s battery.
If the aforementioned problem sounds familiar to you, maybe it’s time to consider getting a
power bank. You would no longer need to worry of finding a plug to charge your phone. Just
plug your phone to it and mobile charging would be at your disposal.
Now, there are many types of power bank in the market, each with their own characteristics and
features. This one in particular, is designed for stationary use, to be placed where a plug would
be awkward to place. With such dazzling array of choices for our consideration, it can be
daunting to choose which one suits our specific needs. So here are some tips to guide you in
choosing the right power bank.

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Don’t be deceived by price
High price indicates high quality, and vice versa; though this statement is quite often true, do
remember that quality is quality and price is price. Be skeptical when offered a high capacity
power bank with a disproportionately low price, it may very well be that the battery is a
reconditioned battery that could potentially endanger your phone. It’s best if you research and
read reviews beforehand.

Don’t go overbudget
Though it’s nice to have a high capacity power bank with many features, if those features
goes unused then it would be as though you are spending extra money for nothing at all. With the
many power bank variations and models that exist on the market, you’d have no problem
finding one thatsuits your specific needs.

Match the power bank with your phone’s battery capacity

The first property that you should consider when picking a power bank is its capacity compared to
your phone. Generally, you’ll want one that has around twice the capacity that your phone has.
If your phone has a capacity of 2500 mAh, you’ll want a power bank with 5000 mAh capacity
so thatyou’ll still have some power left after a full recharge.

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Match the power bank output with your phones
Higher output means faster recharge time for your phone. Of course in most cases, faster charging is
desirable, however do keep in mind that you’ll want an output current that matches your pehloenst
you reduce your battery’s lifespan. Generally, the output current is written on the charger’s head,
orfailing that, in the gadget’s packaging.
Consider its safety features
Whether through lack of knowledge or just general apathy, most people tend to ignore the power
bank’s safety feature. For example, a short circuit protection feature ensure longevity in your power
bank charging port. An overcharging protection is important if you like to leave your power bank to
charge as you sleep. And temperature protection for those who like to charge yourgadget inside the
heated, insulated environment of your bag.

A Brief History of Power Bank

Like all technology, power bank has also evolved over time. In the past ten or more years, power
bank developed from a simple combination of a control circuit and a few AA batteries to more
complex ones with multiple functions such as LED flashlight and Wi-Fi. This passage takes a
quick look at where power bank has been over the years and what the future is for it. The
embryonic and development stage of power bank was 2001-2009. It was first invented in 2011
Las Vegas International Consumer Electronic Show. As some professional teams started to
research and develop the core technology of power bank it gained its precise definition: the
framework of a power bank consists of mostly complete managing circuit, a chip and a battery.
The polymer battery technology made a breakthrough of power bank in around 2006-2009 and
gave birth to some of the standard concept of power bank, such as capacity, conversion rate and
compatibility, enabling customers to make a comparison and choice among different power
banks. Generally speaking, with strong involvement of suppliers, the control technology,
application of batteries as well as the port accessories, every part of the whole power bank
industry chain gained its manufacturer, making the lukewarm market hot.

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 Future Development
As the number of different kinds of digital devices people have grows, their thirst for power
grows, and therefore the market of power bank is largely expanding. People who use smart
phones are the backbone of power bank consumption. People have greater needs for charging
service in airports, hotels and other leisure facilities. Besides, with its function and special
design, power bank also becomes a hot choice as gifts. In short, the power bank market is rapidly
expanding nowadays. To meet various needs of different customers and to win a larger market,
power bank manufacturers start to offer more features and functions for their product, they are
gradually equipped with other functions such as USB or emergency flashlight or even WIFI.
What’s more, to improve the conversion rate and charging efficiency, some of the power
banks have two or more ports and apply smart technology, which can automatically identify the
input
of connected devices and charge them accordingly at full speed. Besides, while the capacity of
power banks grows massively, the size of it becomes smaller on the contrary. To avoid less mess
and hassle, some of the power banks are designed with a built in cable. Thus, you will not need
to bring an extra cable with you. One of the most advanced power banks from Amazon’s best
seller list is Easy Acc PB10000CF which is a perfect representative of a compact size, colorful
design and smart technology.

From 2001 to 2015, the 14 years’ development makes the power bank industry boom and soon it
spread worldwide like wild fire. With the development in the craftsmanship of exterior material and
in the technology for the battery inside which are still in the process of improving, we can expect
that there will be a bigger and higher standard of power bank in the near future. Easy Acc is now
holding a giveaway of its best smart and outdoor power bank — Monster 20000, click here to win.

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Power Banks Development Journey- History and Future of Power Banks
In a world with smarter Smartphone, notebook, tablet, laptops and other affordable web-enabled
mobile devices and powered by better network coverage, the demand for availability of mobile
printed power banks are only getting stronger. The article conceptualizes the entire stream of Power
Banks Development Journey and beyond. Mobile phones have become the primary form of
telecommunication in all over the world. Smartphone are rapidly becoming the primary medium to
access the internet.

Power Banks Development: The Evolution

Portable power began to drive explosive growth because the main source in mobile phones and
other digital devices are built-in batteries. These batteries have limited amount of power, so it is not
able to run these devices throughout the day. Power banks make it easy to charge your devices
anywhere anytime. Just imagine a situation when you have to send an important business mail and
your phone goes off. Won’t it be amazing if you have an alternative device to fall back on during
such times? Comes with different mAh battery, easy to carry and charge your multiple devices,
power banks are just great for your power needs. Like all technology, power bank has also
developed over time. In the past 15 years, power bank developed from a simple combination of a
control unit to more complex ones with multiple functions such as WiFi and LED flashlight. In this
blog post, we will look at where power banks have been over the years and what will be its future.

Developing market (2006-2009):

At this development stage, more and more manufacturing enterprises entered the field of power
banks and the market had become more competitive. Power banks had become more famous till
then. This was the time when Smartphone entered the market. Many companies started to
manufacture Smartphone but the problem was that they had low power battery. In 2007 Apple
launched iPhone with powerful functions and it failed to provide a strong battery life and could only
work for 4 hours before recharging. Therefore, the demand for the custom mobile power banks had
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increased. During this period, power banks market grew to like the wind. More than 500 new brands
became the part of this industry. New research and innovation in power banks made this device
more popular among people and made it easy to charge their mobile phones anytime anywhere.
Nowadays, mobile power banks are being sold like a hot cake. The power bank market is now
competitive and you have the different brands and power options to choose from. Capacity range
from 500 mAh to above 20,000Mah, number of USB port, flashlight, WiFi, lithium-ION and
lithium-polymer batteries, multiple users, power banks enable consumers to choose their power
banks as per their needs and preferences.

Power Banks Development: The Future

In the coming years, power market will grow more than 240%. Here are some trends of power
banks you can see in near future. In today’s time, people want touby things which are small in size
but provide a lot of benefits. In the future, mobile power bank can easily be attached to the mobile
phone. Mobile power banks and mobile phones as a whole is possible if power bank is used as a
protective cover or as a mobile phone shell. These days the main function of the power bank is to
charge your device. No doubt, some of the mobile banks are used as flashlight and WiFi. In the
future, power banks will create a variety of functions. The diversity of mobile power banks will be
the new trend in the future. Someone has already developed the electronic lighter feature of the
power bank. You can see many other advanced functions in near future.

USE OF NEW ENERGY

No matter how high capacity of power bank you have, it will run out of time. So it becomes
difficult to charge your mobile phone. The solution of this problem is solar power that has appeared
on the market already. This is a great source to provide power to your mobile device but its
conversion rate is very low. It takes a lot of time to charge your phone. Every problem has some
solution and here itis blue freedom. Blue freedom is a small power bank which diameter is only
20cm and height of only 5cm. The beauty of this device is that it’s able to convert mechanailc
energy into chemical energy and store in its own battery. You just have to place it in a certain speed
of water flow. As compare to other thermal power equipment, freedom power is more environments
friendly.

Power Banks Development: The Conclusion

In the near future who knows you will see nuclear energy, tidal energy, wind energy etc transform
into electrical energy. There is no doubt that these energies can be used in mobile power banks as
raw materials. thanks for reading our post power banks development journey. Do comment your
opinion in the comment box below.

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 SOURCE OF DATA

Source of data means the origin from where data has been collected. Basically there are two main
types of source of data:
Primary data Secondary data
I have focused on both the source of data.
Idea generation ---- i have drawn these data from internet where i saw normal key rings and came
with idea to innovate it by installing a POWERBANK.
Data collection ---- I have collected some of the data about the design of the key ring from the
newspapers (TIMES OF INDIA)
Some of the data I have collected from friends who gave me idea about how and where to install
it.

INTERNET

NEWSPAPER

FRIENDS

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 PROTOTYPE

A prototype is generally used to evaluate a new design to enhance precision by system analysts
and users. Prototyping serves to provide specifications for a real, working system rather than a
theoretical one. The basic model of prototype is given below:

• Objective-----prototype plan (GPS INSTALLATION)

• Functionality -------- outline definition (JUST ONE CLICK )

• Development ------- executable prototype (MODEL PREPARATION)

• Evaluation ------- All the pros and cons are evaluated in this step

• Implementation ------- plan is implemented and further process is done.

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 USES OF THE PRODUCT

These key rings have lot of uses:

To find lost things.

To track things (bags, keys).

It can use by the people of higher dignitaries who tend to forget their keys or bags because of their
busy schedule.

Travel – This key ring can be placed in luggage or attached to personal items (e.g., camera kits,
laptop computers, medication, mobile devices, or passports) to ensure they are not left behind,
misplaced, nor stolen while traveling.

Provides safety against theft.

In the educational institutions where it can be used by the registrar office who have to maintain lot
of documents of the students and he/she tends to forget the key of the lockerwhere he had kept this
documents.

They locate lost keys--if you are the type of person who is a little disorganized and you often
misplace your belonging, this key finder will help you to pin point your missing keys or the items.

They locate other items too the best key finder can be used as a tracker on several items , such as a
wallet or the luggage . some product even allow you to share your tracker with another user so you
both can track down a lost item.

They save your time when you lose your keys it can sometimes take hours to locate the which
wastes a lot of time can interrupt avoid this by using this key finder

They reduce stress with the best key finder, you can locate your key within seconds. Youno longer
have to worry or get anxious about where you left them the last time COMPETITOR
ANALYSIS

A competitive analysis can help you learn the ins and outs of how your competition works, and
identify potential opportunities where you can out-perform them. A competitive analysis is an
important aspect of the research. Even the strongest giants are scared of competition.

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 The regular competitor analysis helps you stay ahead of others. It involves the evaluation of
strength and weaknesses of your competitors and your business. It also enables you to stay atop
of industry trends and ensure your product is consistently meeting — and exceeding — industry
standards.

Competitors analysis involves:

• Determining who are your competitors

• Determining what product do you competitors offer

Few benefits of conducting competitive analyses according to me:

• Helps me identify my product's uniqueness (POWERBANK) and what makes my product

different from competitors', which can inform future marketing efforts.
• Enables me to identify what my competitor is doing right (RIVAL PRODUCT) . This
information is critical for staying relevant and ensuring both your product and your marketing
campaigns are outperforming industry standards.

• Tells me where your competitors are falling short — which helps me identify areas of
opportunities in the marketplace, and test out new, unique marketing strategies they haven't taken
advantage of.

• I have Learn through customer reviews what's missing in a competitor's product, and consider
how I might add features to my own product to meet those needs.

• Provides me with a benchmark against which I can measure my own growth.

SWOT ANALYSIS

SWOT stands for 'Strengths, Weaknesses, Opportunities and Threats'. This is a method of
analysis of the environment and the company's standing in it.
By doing SWOT analysis I have come across to some of the points:
STRENGTH--- UNIQUENESS
WEAKNESS --- LACK OF MARKET KNOWLEDGE

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 OPPORTUNITY ---GRAB MORE MARKET
THREAT-- COMPETTTORS
Following are the some of the benefits of SWOT analysis according to me:
•
•
•
•
•

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It helps organizations determine whether the technical resources meet capacity and whether the
technical team is capable of converting the ideas into working systems. Follow these steps to
begin your technical feasibility study:

A technical feasibility study assesses the details of how you intend to deliver a product or service
to customers. Materials, labor, transportation, where your business will be located, and the
technology that will be necessary to bring all this together. It's the logistical or tactical plan of
how your business will produce, store, deliver, and track its products or services.

A technical feasibility study is an excellent tool for both troubleshooting and long-term planning.
It can serve as a flowchart of how your products and services evolve and move through your
business to physically reach your market.

Begin—or End—With an Executive Summary

The word "summary" is key here. Highlight the key points of each section you'll include in your
technical feasibility study.

Prepare an Outline

Basic areas you'll want to cover include materials, labor, transportation or shipping, physical
location, and technology. Be sure to include a thorough description of the services or products
you'll be offering. How will your business benefit consumers? Give investors a reason to choose
you over your competitors.

Calculate Material Requirements

List the materials you'll require to produce a product or service. This section is where you'll
indicate where you'll get those materials. Include information such as whether volume discounts
will be available as your business grows or if you plan to manufactureyour parts at some point in
time.
Include what parts and supplies you'll need to produce a product, including things like glue and
nails. Mention all materials that will be involved in producing or manufacturing what you're
selling.

Calculate Labor Requirements

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You can't run a business, offer services, or manufacturer products without the help of others and
that help will cost you. Even if you start your business as its only employee, you'll have to add to
your labor pool at some point if you plan to grow.
Transportation and Shipping Requirements

How will you transport items if you must send them from one place to another?

Calculate Marketing Requirements

How will you reach consumers?

Go beyond simple advertising plans, although this is important, too. Exactly what type of
advertising campaign do you plan to launch? Will you lean more heavily on print media or other
options and what consumers will you target? Explain why they would want to buy from you
rather than any of your competitors.

The Physical Location of Your Business

Where you run your business will have an effect on your success. Technology Requirements to

Run Your Business

Every business needs at least some kind of technology to operate.

Include Target Dates

Tell investors when you plan to do what to bring your concept to fruition.

Support Your Financial Information Summary of the Technical Feasibility Study

Be sure to include all the technical requirements of your business from production to customer
receipt. This information will help investors know more about the operations ofyour business.

SOME IMPORTAMT POINT WITH REGARD TON TECHNICAL FEASIBILITY:

Market OverviewCompetitors
Market status and outlook by regionApplication or end user
Market forecast
Raw materials required
Research findings and conclusion

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 MARKET ANALYSIS
A market analysis is a quantitative and qualitative assessment of a market. It looks into the size
of the market both in volume and in value, the various customer segments and buying patterns,
the competition, and the economic environment in terms of barriers to entry and regulation.
Through these analyses, the strengths, weaknesses, opportunities and threats of a company can be
identified

Through market research I have come across following question.

• Who are my potential customers?

• What are my customers' buying habits?
• How large is my target market?
• How much are customers willing to pay for my product?
• Who are my main competitors?
• What are my competitors' strengths and weaknesses?

How to conduct a market analysis

These are the seven steps of conducting a market analysis:

1. Determine your purpose

2. Research the state of the industry---It's vital to include a detailed outline of the current state of
your industry. Include where the industry seems to be heading, using metrics such as size, trends
and projected growth, with plenty of data to support your findings. You can also conduct a
comparative market analysis to help you find your competitive advantage within your specific
market.

3. Identifying target customer.

4. Understand your competition.

5. Gather additional data.

6. Analyzing the data---After you collect all the information you can and verify that it is accurate,
you need to analyze the data to make it useful to you.

7. Analyzing the work.

Market analysis on following three things:

Product for which segmentTargeted audience Positioning

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 PRODUCT FOR WHICH SEGMENT
Segmentation means to divide the marketplace into parts, or segments, which are definable,
accessible, actionable, and profitable and have a growth potential
I AM FOCUSING ON THE FOLLOWING SEGMENT:
Market segment Customer
segment

MARKET SEGEMNT CUSTOMER

SEGMENT

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 TARGETED ADUIENCE

A target audience is a group of people identified as being likely customers of a business. Target
audiences help businesses advertise more efficiently as you know who your target audience is
and how to reach them. While it's important to reach as many people as possible Basically my
targeted audiences are:
Middle income group All type of people except children of age group 1-15

Higher income group year old.

There is a lot of attributes that can be used in finding the right audience. Which are listed
below?
Demography (Age—25+)
Interests (whether they are interested in KEY RING WITH GPS or not) Purchase
intentions (whether they have intention to purchase it or not)

You should also analyze your products and services. What benefits do you offer?(GPS
TRACKING) Try to list them. Then think about people who have a need that your benefit
fulfills. How old are they? What they are interested in? What they are looking for and why your
product meets their needs? It will help you to find the right attributes of your target group.
How to reach targeted audience?
To reach targeted audience I have used :

• Television
• Radio
• Newspaper
• Social media (Facebook, twitter, Google)
• Board and hoardings

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 POSITIONING

POSITIONING IS BASICALLY CREATING A BRAND IMAGE IN THE MINDS OF THE

CUSTOMER:

I Have Done Positioning On The Basis Of Follow

Based on product characteristics

1. Full comfort
2. Greatest maximum range
3. App- less key finder
4. Customizable settings
Based on price

1. Cheap
2. Expensive
Based on quality

Based on product use or applicationBased

on competition

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 COSTING AND PRICING OF THE PRODUCT

The costs involved in creating a product are called Product Costs. These costs include
materials, labor, production supplies and factory overhead. The cost of the labor requiredto
deliver a service to a customer is also considered a product cost.

I will decide the product cost keeping this factor into mind that is:

Material required: cost of the raw material required for making the product (wheelsexercise
ball, remote control etc.)
Number of labor required to manufacture this chair will also be the factor for deciding the cost
of the chair.
And at last overheads cost will also be included in the cost price of the product.

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 PRICIND OF THE PRODUCT

Price is the value that is put to a product or service and is the result of a complex set of
calculations, research and understanding and risk-taking ability. A pricing strategy takes into
account segments, ability to pay, market conditions, competitor actions, trade margins and input
costs, amongst others. It is targeted at the defined customers and against competitors.

Following are some of the pricing strategies which I am going to adopt while pricing:

Penetration pricing: price is set artificially low to gain market share quickly. This is done when
a new product is being launched. It is understood that prices will be raised once the promotion
period is over and market share objectives are achieved. Example: Mobile phone rates in India;
housing loans etc.
Skimming strategy: high price is charged for a product till such time as competitors allow after
which prices can be dropped. The idea is to recover maximum money before the product or
segment attracts more competitors who will lower profits for allconcerned. Example: the
earliest prices for mobile phones, VCRs and other electronic items where a few players ruled
attracted lower cost Asian players Competitive pricing Competitive pricing is extremely similar
to penetration pricing in that your goal is to drive your target audience away from your
competitors and toward your brand.
However, instead of making
price increases later on, you’ll continue to track what your competitors are charging and beat
them out.

How to price your product

1. Add up your variable costs (per product)

2. Add a profit margin
3. Don't forget about fixed costs Basically I have followed this two pricing strategies and
accordingly I have kept the price of product Rs, 800

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 AVAILABLE SOURCE OF FUNDS

A financial feasibility study projects how much start-up capital is needed, sources of capital,
returns on investment, and other financial considerations. It looks at how much cash is required,
where it will come from, and how it will be spent. There are many sources from where financing
can be done but I am going to finance it from two financial institutions.
These two banks provide loan for the startup:

SBI Business Loan Interest Rates India (as per 20 Feb. 2022)

SBI business loan is one of the most popular schemes as it comes at with affordable business loan
rates, and has an online process to apply along with superior customer service. SBI business loan
interest rates begin from 11.20% and vary based on the eligibility of the borrower.

Interest Rate 11.20%

Processing Fee From 2% to 3%

Tenure From 12 months to 48 months

Lowest EMI per lakh ₹ 2,594
Loan Amount Min ₹ 5 Lakh and Max ₹ 100 Cr
Part Prepayment, Charges 3%

Early Foreclosure, Charges Allowed after 6 EMI's, 3%

SBI Business Loan Interest Rates India (as per20th Feb)

SBI business loan is one of the most popular schemes as it comes at with affordable business loan
rates, and has an online process to apply along with superior customer service. SBI business loan

39
 interest rates begin from 11.20% and vary based on the eligibility of the borrower. Check Best
Offers

Interest Rate 11.20%

Processing Fee From 2% to 3%

Tenure From 12 months to 48 months

Lowest EMI per lakh ₹ 2,594

Loan Amount Min ₹ 5 Lakh and Max ₹ 100 Cr

Part Prepayment, Charges 3%

Early Foreclosure, Charges Allowed after 6 EMI's, 3%

LIMITATIONS OF THE PRODUCT

Following are the some of the limitations of the product which put a limit on growth of the
business:
1. Shortage of labour
If adequate labours are not available then business may not be successful.
2. Extra cost
Too much of cost is involved in manufacturing the product right from the purchase of raw material
till it reaches the final consumer.
Lots of many is spend on advertisement of the product

3. Evolving market
4. Competition
Due to high level of competition the product may not successfully run into themarket.

40
5. High battery consumption
6. Resources and cost
Too many resources are involved in the production of the product.
7. Price is too high
8. Lack of knowledge
9. Managerial capacity

\
riskness

extra cost

evolving market

competition

High battery consumption

Resources and cost

Lack of knowledge

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OTHER POSSIBILITIES OF FURTHER INNOVATION IN THIS PRODUCT

There is number of possibility of future update of this product that will make more comfortable
and reliable.
Reasons for further innovation:
To bring something newto capture new
market to create new demand to full
customer needs
We can have some more feature in it that.

camera

recorder

other purpose (other than key finding)

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 CONCLUSION

I would like to conclude that innovation and creativity are playing important role in the 20th
century.
In this project report I have highlighted all the features of the product, segment and audience
which I have targeted. Financial institutions from where I am going to take the loan and cost the
product
All the important point about this product I have thoroughly discussed in the project and at last,
Iwould say it is product which will be going to have bright future.

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is-a-powerbank- battery-store.php

Uber Gizmo. (2020). What is mAh? Retrieved on March 3, 2020, from

https://www.ubergizmo.com/what-is/mah-milliamp-hours/

Esposito, Felipe. (2019, September 17). iPhone 11 and iPhone 11 Pro have up to 3,969 mAh
battery capacity and 4GB of RAM. Retrieved on March 3, 2020, from
https://9to5mac.com/2019/09/17/iphone-11-and-iphone-11-pro-battery-size/

Bryan. (2020, February 4). What Does mAh Stand For in Batteries? Retrieved on March 3, 2020,
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TSA. (2020). Power Banks. Retrieved on March 3, 2020, from

https://www.tsa.gov/travel/security-screening/whatcanibring/items/power-banks

SWICAD. (2018, September 17). History of the Power Bank. Retrieved on March 4, 2020, from
https://medium.com/@swicaid/history-of-the-power-bank-262684b706a6

Brease, Tom. (2017, November 13). Pisen: From power bank invention to power bank
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Retrieved on March 4, 2020, from
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innovation/

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