Part A - Poster Create a poster promoting your idea to investors. It will need to contain at a minimum: • An Illustration of the finished product: • All product features are visible and clearly labelled • Illustration clearly demonstrates how the product or service works Market analysis: • Size Statistics o Customer Archetypes Intellectual Property strategy: • Which types of IP would apply to your business and why Break Even: 。 Expressed in quantity, revenue, and time Market Launch: • How are you planning to launch your business? 。 Will there be additional advertising? What will this look like?/n INNOVATE 1X03 C02 Milestone 2 Group 66 Submission Date: 2024/03/22 Section A - Comprehensive Environmental Analysis. SWOT Analysis Strengths: Innovative Product: The smartwatch is a technological marvel and a lifeline for the disabled elderly. Combining health monitoring and location tracking addresses two of their most pressing concerns staying on their feet and safe. Focus on a Growing Demographic: The product is not just for the disabled elderly; it's for a rapidly growing market segment. With the aging population, the demand for solutions tailored to their specific needs and challenges, such as mobility, health, and the fear of getting lost, is skyrocketing. User-Friendly Design: Recognizing that this user group may have difficulties with technology or be hesitant to use it. Smartwatch incorporates features such as large buttons, vibrant interfaces, and voice commands, which can benefit users with varying technological proficiency and physical ability levels. (Aalbers, Baars, & Rikkert, 2011). Weaknesses: High Costs: The cutting-edge technology and rigid materials required for the smartwatch to work and last a long time bring about high development and production costs. Technological Adoption Barriers: The main challenge is elderly users' adoption of new technologies, especially those with disabilities. Some of these people may be scared of new gadgets or may not see the immediate advantages of replacing the old ways of care and safety watches. Dependence on External Manufacturers: Hardware manufacturers' risks as a third party include quality control issues, supply chain disruptions, and potential cost growth. Such reliance may limit fast scaling-up and impose a high and constant quality level. Opportunities: Increasing Awareness: Society does provide more care for the disabled elderly, however, in terms of their well-being. (Aalbers, Baars, & Rikkert, 2011). Partnerships: Such partnerships with medical providers, old-age care organizations, and insurance companies are significant. These associations offer opportunities for credibility, access to distribution channels, and financing to users. Market Expansion: The original target of the disabled old does not restrict the growth in other markets where similar problems occur-disabled adults, wandering children, and pets. Threats: Competition: The elderly care products market is saturated. Older and newly established companies are searching for a solution in elderly monitoring. Technological Obsolescence: The rapid pace of technological developments means that what is innovative today may soon become outdated. (Aalbers, Baars, & Rikkert, 2011). Regulatory and Privacy Concerns: Health and digraph data are tightly regulated during collection and use. Failure can cause legal issues and loss of trust. PESTLE Analysis Political: The policies and laws in healthcare and data protection vary from one region to the other. The supportive policies for the disabled and elderly include ensuring subsidies, while the restrictive policies would create functional limitations or additional costs. (World Health Organization, 2021). Economic: Economic considerations affect the consumer's purchasing power and the smartwatch's production costs. The decline may lessen customers' purchasing power, and inflation may raise materials and labor costs. Conversely, a strong economy may grow the market size and the willingness to invest in health technology. Sociological: Society practices independence and aging in place with products as its value proposition. However, the target audience's various levels of technological literacy can also challenge adoption. Cultural attitudes towards surveillance versus privacy also determine product acceptance. Technological: Wearable technology is multiplying, bringing new health monitoring and GPS tracking openings. Being ahead of the curve requires R&D support and the capability to quickly assimilate new technologies into the product. However, this also means dealing with the risks of investments in technologies that could never be successful. Legal: Besides privacy laws, legal suspicions arising from the medical precision of health monitoring features and liabilities connected with location tracking are possible. Compliance is an ongoing legal supervision. Environmental: Sustainability concerns are becoming more popular among customers. Marketing value of sustainable materials and production methods can also be a cost in terms of how much it increases. Additionally, end-of-life disposal and recycling of the product should be considered to minimize environmental costs. (World Health Organization, 2021). Porter's Five Forces Analysis Threat of New Entrants: The entry barrier to technology-based solutions in elderly care is relatively low. At least some fast players could pop up if they mess up the smell of the unappreciated niche in the entire market. Bargaining Power of Suppliers: Suppliers wield significant power owing to the specialized materials and components on which the smartwatch depends. This would affect cost and availability. (Porter, 1979). Bargaining Power of Customers: Customers are demanding and require reliability, user-friendliness, and value for money. Comparing products between which customers have the power to switch to competitors gives them considerable power, emphasizing the value of customer satisfaction and loyalty programs. Threat of Substitute Products or Services: Substitution Products or Services: Other devices and non-technological solutions, such as live-in caregivers and community alert systems, are options for a smartwatch. (Porter, 1979). Rivalry Among Existing Competitors: The competition includes other smartwatches and various products and services that target elderly care. Differential, based on particular characteristics, the high quality or outstanding customer service is the essential factor of competitive advantage in this narrow market. Key stakeholders: Disabled Elderly Users: They are the primary users of the smartwatch, and their feedback and adoption rate directly influence the product's success and future development. Healthcare Providers: They are crucial in recommending and endorsing the smartwatch to patients, significantly impacting its market penetration and credibility.

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