smart mirror clothing, Schemes and Mind Maps of Entrepreneurship Development

Download smart mirror clothing and more Schemes and Mind Maps Entrepreneurship Development in PDF only on Docsity! FACULTY OF COMPUTER TECHNOLOGY Certificate This is to certify that Students of MCA semester IV, at Faculty of Computer Technology have successfully completed the Entrepreneurship Idea Presentation entitled “Smart Mirror Clothing in Ecommerce” as a partial fulfillment of the study of Master of Computer Application (MCA) Under the Guidance of December 2022 P a g e 1 | 9 Index: No. Topics Page Number 1. Idea Proposal 3 2. Idea Generation 3 3. Idea Exploration 3 4. Feasibility Study 4 5. Financial 4 6. Operational 4 7. Technical 4 8. Market Research 5 9. Market Study (Scope, Demand and Supply) 5 10. Competition Study 6 11. Future Growth 6 12. Operational Plan 7 13. Working Capital 7 14. Team Building and Recruitment 8 15. Marketing and Promotional Plan 9 16. Execution Plan 9 17. Conclusion 9 P a g e 2 | 9 Market Research  India is expected to have the second-largest number of internet users in the world. Statistics for the publishing industry are also promising. India standings in terms of e-commerce markets is also prominent. The e-commerce market in India is expected to grow at 55-60% annually for next five years.  Reference: www.myntra.com www.cnbctv18.com Market Study (Scope, Demand, Supply)  India is a huge market of e-commerce. Indian population of internet users in 658 million and it’s ranked second highest number of internet population. So e-commerce sector can grow with lot of speed.  Reference: www.datareportal.com P a g e 5 | 9 Competition Study  There are some competitors which are using Virtual Mirror Technology. It is an AR- based virtual fitting solution with a real time try-on solution. These are two competitors are…. Future Growth  By implementing this feature user can take benefit of trial room virtually and get idea about clothes they buy.  Implementing feature in traditional and party wear clothes etc.  Implementing a recommendation system about clothes fit on users.  E-commerce industry will get a huge profit by reducing turnaround time. P a g e 6 | 9 Operational Plan Working Capital:  When we do market study we estimate that our business need 8 lakhs ₹ to 9 lakhs ₹ of investment that include below mentioned points: No. Number of Requirement Amount 1. System(including maintenance)  2 PC(80k)  WIFI(12k)  Hosting-Domain(23k)  1 CCTV Camera(1k) 1.15 – 1.20 lakhs ₹ 2. Marketing  Online 1)Google Advertisement(20k) 2)Referral (5%) 3)Influencer Marketing(25k- 40k)  Offline 1)Pamphlet(1500) 2)Banner(10k-12k) 70k-75k ₹ 3. Commercial rents  Office Rent(3 lakh)  Electricity Bill( 80k-1 lakh)  Furniture(1 lakh) 5-5.10 Lakhs ₹ 4. Other Expenses  Legal Advisor  Misc. 50k ₹ P a g e 7 | 9