Automatic garage

Automatic
garage door:

            Automatic garage door systems are being used in a wide
range of residential and commercial applications. It opens the door
automatically and closes it automatically. It uses a sensor for this purpose. They
are generally used in homes for parking cars and other storage purpose and on
the outside doors of large retail businesses. These doors are not only
providing easy access to all the users but also provides reliability in the
form of security. Automatic garage door can be of many types like top rolling
multi-panel shutters, side rolling multi-panel shutters which are automatically
controlled.

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Step-1: Starting
point for estimating the market potential starts with how the product we have
considered is going to solve the problem of customers. With innovative
technology the following problems of customers are being met by the product,
they are

1.Convenience

            One can stay in their car and can open or close the
garage.

2.Security

            Since the garage is closed using codes and also vacation
modes available during which the remote gets disabled.

3.Relatively inexpensive

4.Safety

            Fingers won’t get caught anywhere and can be easily
operated using the remote.

Step-2:
Profiling
the customers

            By knowing the people who are going to access the product
we can narrow down to the number of potential customers.  Indians generally buy a product when that
product is really useful or not. So target customers can be only those families
who have their own homes and cars with them. And the product can be relatively
bought by the customers who have good amount of income as backup since the cost
of the product being 1.5 lakhs and annual maintenance cost being 5000 .By knowing
the people who are going to access the product we can narrow down to with the
potential customers.   

Define the market
segment:

            Here segmentation is being done on basis of income, lifestyle
and attitude they have.

Demographic- People are
segmented based on their income ,house they own and also on the ownership of
cars.

Psychographic-People are
segmented based on their attitude towards innovation which can be done through
survey using questionnaires.

Targeting:

1.People with high annual
income, a car and enough housing space are being targeted.

2.People who enjoys
comfort and have a positive attitude towards the product is targeted.

Geographic boundaries:

            Bangalore has been selected as the market for selling the
product since there is a lot of potential buyers with the above given
characteristics in Bangalore.

Step-3: Finding
the competitors

            In Bangalore we have found that there are four potential
competitors in the automatic garage door market. They include

·        
Quality Automations-2 Lakhs/piece

·        
Rolling Shutter Motors India-1.5 lakhs/piece

·        
LMarks House-1.5 lakhs/piece

·        
Sri Sai Automation-1.5 lakhs/piece

These
are the four important competitors who shares the market share for the product.

Step-4:

Approach 1-Based
on size of house

                  Among
the population of Bangalore which has been estimated as 12 million.It has been
found that 28% of them are earning more than 10Lakhs per annum who come under
our category of segmentation which is equal to 
3.36 million. Since these are the people who have been recognised as
upper middle class to  Richie rich class
who can be considered as our target customers.

Let us assume that people with above income and also
with decent housing space be 561528 i.e. households with more than five rooms
to dwell.

 

 

 

 

1.     
Market size considered here is households
having more than 5 rooms i.e. 561528

2.     
Market potential is the total expected
sales for the automatic garage in Bangalore for 6 months. This 6 months can
generally be  expanded to one or two
years. We can refine or increase the accuracy of guesses by digging deeper
details. As of now an educated guess is being taken. It has been taken as 5% of
the total target customers.

3.     
Similarly by doing the same mental
exercise we are estimating how many customers will be buying form our firm over
those 6 months period of time. Thus the sales

 

projection
has been estimated as follows in the below table and thereby our share of the
market can be found. 

4.     
If wanted this below found estimated can
be scaled to the nearby districts also which we want to serve. The crux is
start with something which we can measure and then extend it.

Market forecast

Prediction

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Automatic garage
door

Units sold by the
whole industry(Market potential)

25000

25000

25000

25000

25000

25000

Automatic garage
door for our firm

Units we will
sell(sales potential)

1250
(5%)

4000 (16%)

5000
(20%)

7500
(30%)

7500 (30%)

8000 (32%)

 

Average price in
lakhs

1.5

1.5

1.5

1.5

1.5

1.5

 

Sales forecast in
lakhs

1875

6000

7500

11250

11250

12000

 

 

Second
approach: The above process can be done by taking into
consideration the number of households
having four wheelers. In which the total number of target customers are
found as 833478 as giving by the census report. After this using the same estimation
procedures potential and forecast  can be
done.

 

Third
Approach: We can consider Number
of Villas / Bungalows in Bangalore.

Real
Estate in Bangalore has grown on account of job creation by
IT/ITES industry. Multi-cultural population with good social infrastructure,
excellent educational institutes and constantly upgrading physical
infrastructure has presented real estate developers with the opportunity to
develop quality real estate projects, particularly in the residential space.

Number
of ongoing projects in respective regions-

Approximately 972 residential projects till 2017 (high-end,
mid segment, and affordable segment) are under various stages of construction
in Bangalore.

South Bangalore
(Banashankari, Electronic City, Hosur Road, Gottigere, Chanda Pur, Bannerghatta
Road, JP Nagar, Koramangala, Vijayanagar, BTM Layout, Kudlu Gate, Jayanagar,
Bommanahalli, ChandaPura, Attibele, Kanakapura Road, Begur Road, Anekal,
AnjanaPura, Ananth Nagar) – 288 residential projects out of which approximately
46 projects offer villas/row houses.

East Bangalore (Haralur,
Sarjapur Road, Horamavu, Whitefield, HSR Layout, Sarjapur, Hoodi, Hosa Road,
ITPL, CV Raman Nagar, Nagavara, Haralur Road, Banasvadi, Marathahalli,
Mahadevapura, Old Airport Road, Indira Nagar, Bellandur, Brooke Field, Basava
Nagar, Amrutahalli, Varthur, Outer Ring Rd, Old Madras Road, Ramamurthi Nagar,
Kadugodi, Panathur Village, Doddanakkundi, TC Palya) – 335 residential project
under various stages of construction out of which 75 are villas/ row houses project.

North Bangalore
(Devanahalli, Doddaballapur Road, Yeshwanthpur, Malleswaram, Hebbal, Hebbal
Flyover, Jakkur, Jalahalli, KR Puram, RT Nagar, Yelahanka, Airport Road,
Bellary Road, HBR Layout, Hennur, Hennur Road, Rajaji Nagar, Sahakar Nagar, RMV
Extension, Thanisandra, Tumkur Road, Vidyaranyapura) – 219 residential real
estate projects under various stages of construction out of which 55 are villas / row houses project.

West Bangalore (Mysore
Road, Rajarajeshwari Nagar, Kengeri, Sanjay Nagar, Magadi Road, Uttarahalli,
Nagarbhavi) – 44 residential real estate projects under various stages of
construction out of which 8 are villas /
row houses project.

Other areas including
Bangalore central – 86 residential real estate projects under various stages of
construction out of which 29 are villas
/ row houses project.

So in total, 213 are villas / row houses project where there
is a possibility of automated garage doors.Automatic
garage door:

            Automatic garage door systems are being used in a wide
range of residential and commercial applications. It opens the door
automatically and closes it automatically. It uses a sensor for this purpose. They
are generally used in homes for parking cars and other storage purpose and on
the outside doors of large retail businesses. These doors are not only
providing easy access to all the users but also provides reliability in the
form of security. Automatic garage door can be of many types like top rolling
multi-panel shutters, side rolling multi-panel shutters which are automatically
controlled.

Step-1: Starting
point for estimating the market potential starts with how the product we have
considered is going to solve the problem of customers. With innovative
technology the following problems of customers are being met by the product,
they are

1.Convenience

            One can stay in their car and can open or close the
garage.

2.Security

            Since the garage is closed using codes and also vacation
modes available during which the remote gets disabled.

3.Relatively inexpensive

4.Safety

            Fingers won’t get caught anywhere and can be easily
operated using the remote.

Step-2:
Profiling
the customers

            By knowing the people who are going to access the product
we can narrow down to the number of potential customers.  Indians generally buy a product when that
product is really useful or not. So target customers can be only those families
who have their own homes and cars with them. And the product can be relatively
bought by the customers who have good amount of income as backup since the cost
of the product being 1.5 lakhs and annual maintenance cost being 5000 .By knowing
the people who are going to access the product we can narrow down to with the
potential customers.   

Define the market
segment:

            Here segmentation is being done on basis of income, lifestyle
and attitude they have.

Demographic- People are
segmented based on their income ,house they own and also on the ownership of
cars.

Psychographic-People are
segmented based on their attitude towards innovation which can be done through
survey using questionnaires.

Targeting:

1.People with high annual
income, a car and enough housing space are being targeted.

2.People who enjoys
comfort and have a positive attitude towards the product is targeted.

Geographic boundaries:

            Bangalore has been selected as the market for selling the
product since there is a lot of potential buyers with the above given
characteristics in Bangalore.

Step-3: Finding
the competitors

            In Bangalore we have found that there are four potential
competitors in the automatic garage door market. They include

·        
Quality Automations-2 Lakhs/piece

·        
Rolling Shutter Motors India-1.5 lakhs/piece

·        
LMarks House-1.5 lakhs/piece

·        
Sri Sai Automation-1.5 lakhs/piece

These
are the four important competitors who shares the market share for the product.

Step-4:

Approach 1-Based
on size of house

                  Among
the population of Bangalore which has been estimated as 12 million.It has been
found that 28% of them are earning more than 10Lakhs per annum who come under
our category of segmentation which is equal to 
3.36 million. Since these are the people who have been recognised as
upper middle class to  Richie rich class
who can be considered as our target customers.

Let us assume that people with above income and also
with decent housing space be 561528 i.e. households with more than five rooms
to dwell.

 

 

 

 

1.     
Market size considered here is households
having more than 5 rooms i.e. 561528

2.     
Market potential is the total expected
sales for the automatic garage in Bangalore for 6 months. This 6 months can
generally be  expanded to one or two
years. We can refine or increase the accuracy of guesses by digging deeper
details. As of now an educated guess is being taken. It has been taken as 5% of
the total target customers.

3.     
Similarly by doing the same mental
exercise we are estimating how many customers will be buying form our firm over
those 6 months period of time. Thus the sales

 

projection
has been estimated as follows in the below table and thereby our share of the
market can be found. 

4.     
If wanted this below found estimated can
be scaled to the nearby districts also which we want to serve. The crux is
start with something which we can measure and then extend it.

Market forecast

Prediction

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Automatic garage
door

Units sold by the
whole industry(Market potential)

25000

25000

25000

25000

25000

25000

Automatic garage
door for our firm

Units we will
sell(sales potential)

1250
(5%)

4000 (16%)

5000
(20%)

7500
(30%)

7500 (30%)

8000 (32%)

 

Average price in
lakhs

1.5

1.5

1.5

1.5

1.5

1.5

 

Sales forecast in
lakhs

1875

6000

7500

11250

11250

12000

 

 

Second
approach: The above process can be done by taking into
consideration the number of households
having four wheelers. In which the total number of target customers are
found as 833478 as giving by the census report. After this using the same estimation
procedures potential and forecast  can be
done.

 

Third
Approach: We can consider Number
of Villas / Bungalows in Bangalore.

Real
Estate in Bangalore has grown on account of job creation by
IT/ITES industry. Multi-cultural population with good social infrastructure,
excellent educational institutes and constantly upgrading physical
infrastructure has presented real estate developers with the opportunity to
develop quality real estate projects, particularly in the residential space.

Number
of ongoing projects in respective regions-

Approximately 972 residential projects till 2017 (high-end,
mid segment, and affordable segment) are under various stages of construction
in Bangalore.

South Bangalore
(Banashankari, Electronic City, Hosur Road, Gottigere, Chanda Pur, Bannerghatta
Road, JP Nagar, Koramangala, Vijayanagar, BTM Layout, Kudlu Gate, Jayanagar,
Bommanahalli, ChandaPura, Attibele, Kanakapura Road, Begur Road, Anekal,
AnjanaPura, Ananth Nagar) – 288 residential projects out of which approximately
46 projects offer villas/row houses.

East Bangalore (Haralur,
Sarjapur Road, Horamavu, Whitefield, HSR Layout, Sarjapur, Hoodi, Hosa Road,
ITPL, CV Raman Nagar, Nagavara, Haralur Road, Banasvadi, Marathahalli,
Mahadevapura, Old Airport Road, Indira Nagar, Bellandur, Brooke Field, Basava
Nagar, Amrutahalli, Varthur, Outer Ring Rd, Old Madras Road, Ramamurthi Nagar,
Kadugodi, Panathur Village, Doddanakkundi, TC Palya) – 335 residential project
under various stages of construction out of which 75 are villas/ row houses project.

North Bangalore
(Devanahalli, Doddaballapur Road, Yeshwanthpur, Malleswaram, Hebbal, Hebbal
Flyover, Jakkur, Jalahalli, KR Puram, RT Nagar, Yelahanka, Airport Road,
Bellary Road, HBR Layout, Hennur, Hennur Road, Rajaji Nagar, Sahakar Nagar, RMV
Extension, Thanisandra, Tumkur Road, Vidyaranyapura) – 219 residential real
estate projects under various stages of construction out of which 55 are villas / row houses project.

West Bangalore (Mysore
Road, Rajarajeshwari Nagar, Kengeri, Sanjay Nagar, Magadi Road, Uttarahalli,
Nagarbhavi) – 44 residential real estate projects under various stages of
construction out of which 8 are villas /
row houses project.

Other areas including
Bangalore central – 86 residential real estate projects under various stages of
construction out of which 29 are villas
/ row houses project.

So in total, 213 are villas / row houses project where there
is a possibility of automated garage doors.Automatic
garage door:

            Automatic garage door systems are being used in a wide
range of residential and commercial applications. It opens the door
automatically and closes it automatically. It uses a sensor for this purpose. They
are generally used in homes for parking cars and other storage purpose and on
the outside doors of large retail businesses. These doors are not only
providing easy access to all the users but also provides reliability in the
form of security. Automatic garage door can be of many types like top rolling
multi-panel shutters, side rolling multi-panel shutters which are automatically
controlled.

Step-1: Starting
point for estimating the market potential starts with how the product we have
considered is going to solve the problem of customers. With innovative
technology the following problems of customers are being met by the product,
they are

1.Convenience

            One can stay in their car and can open or close the
garage.

2.Security

            Since the garage is closed using codes and also vacation
modes available during which the remote gets disabled.

3.Relatively inexpensive

4.Safety

            Fingers won’t get caught anywhere and can be easily
operated using the remote.

Step-2:
Profiling
the customers

            By knowing the people who are going to access the product
we can narrow down to the number of potential customers.  Indians generally buy a product when that
product is really useful or not. So target customers can be only those families
who have their own homes and cars with them. And the product can be relatively
bought by the customers who have good amount of income as backup since the cost
of the product being 1.5 lakhs and annual maintenance cost being 5000 .By knowing
the people who are going to access the product we can narrow down to with the
potential customers.   

Define the market
segment:

            Here segmentation is being done on basis of income, lifestyle
and attitude they have.

Demographic- People are
segmented based on their income ,house they own and also on the ownership of
cars.

Psychographic-People are
segmented based on their attitude towards innovation which can be done through
survey using questionnaires.

Targeting:

1.People with high annual
income, a car and enough housing space are being targeted.

2.People who enjoys
comfort and have a positive attitude towards the product is targeted.

Geographic boundaries:

            Bangalore has been selected as the market for selling the
product since there is a lot of potential buyers with the above given
characteristics in Bangalore.

Step-3: Finding
the competitors

            In Bangalore we have found that there are four potential
competitors in the automatic garage door market. They include

·        
Quality Automations-2 Lakhs/piece

·        
Rolling Shutter Motors India-1.5 lakhs/piece

·        
LMarks House-1.5 lakhs/piece

·        
Sri Sai Automation-1.5 lakhs/piece

These
are the four important competitors who shares the market share for the product.

Step-4:

Approach 1-Based
on size of house

                  Among
the population of Bangalore which has been estimated as 12 million.It has been
found that 28% of them are earning more than 10Lakhs per annum who come under
our category of segmentation which is equal to 
3.36 million. Since these are the people who have been recognised as
upper middle class to  Richie rich class
who can be considered as our target customers.

Let us assume that people with above income and also
with decent housing space be 561528 i.e. households with more than five rooms
to dwell.

 

 

 

 

1.     
Market size considered here is households
having more than 5 rooms i.e. 561528

2.     
Market potential is the total expected
sales for the automatic garage in Bangalore for 6 months. This 6 months can
generally be  expanded to one or two
years. We can refine or increase the accuracy of guesses by digging deeper
details. As of now an educated guess is being taken. It has been taken as 5% of
the total target customers.

3.     
Similarly by doing the same mental
exercise we are estimating how many customers will be buying form our firm over
those 6 months period of time. Thus the sales

 

projection
has been estimated as follows in the below table and thereby our share of the
market can be found. 

4.     
If wanted this below found estimated can
be scaled to the nearby districts also which we want to serve. The crux is
start with something which we can measure and then extend it.

Market forecast

Prediction

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Automatic garage
door

Units sold by the
whole industry(Market potential)

25000

25000

25000

25000

25000

25000

Automatic garage
door for our firm

Units we will
sell(sales potential)

1250
(5%)

4000 (16%)

5000
(20%)

7500
(30%)

7500 (30%)

8000 (32%)

 

Average price in
lakhs

1.5

1.5

1.5

1.5

1.5

1.5

 

Sales forecast in
lakhs

1875

6000

7500

11250

11250

12000

 

 

Second
approach: The above process can be done by taking into
consideration the number of households
having four wheelers. In which the total number of target customers are
found as 833478 as giving by the census report. After this using the same estimation
procedures potential and forecast  can be
done.

 

Third
Approach: We can consider Number
of Villas / Bungalows in Bangalore.

Real
Estate in Bangalore has grown on account of job creation by
IT/ITES industry. Multi-cultural population with good social infrastructure,
excellent educational institutes and constantly upgrading physical
infrastructure has presented real estate developers with the opportunity to
develop quality real estate projects, particularly in the residential space.

Number
of ongoing projects in respective regions-

Approximately 972 residential projects till 2017 (high-end,
mid segment, and affordable segment) are under various stages of construction
in Bangalore.

South Bangalore
(Banashankari, Electronic City, Hosur Road, Gottigere, Chanda Pur, Bannerghatta
Road, JP Nagar, Koramangala, Vijayanagar, BTM Layout, Kudlu Gate, Jayanagar,
Bommanahalli, ChandaPura, Attibele, Kanakapura Road, Begur Road, Anekal,
AnjanaPura, Ananth Nagar) – 288 residential projects out of which approximately
46 projects offer villas/row houses.

East Bangalore (Haralur,
Sarjapur Road, Horamavu, Whitefield, HSR Layout, Sarjapur, Hoodi, Hosa Road,
ITPL, CV Raman Nagar, Nagavara, Haralur Road, Banasvadi, Marathahalli,
Mahadevapura, Old Airport Road, Indira Nagar, Bellandur, Brooke Field, Basava
Nagar, Amrutahalli, Varthur, Outer Ring Rd, Old Madras Road, Ramamurthi Nagar,
Kadugodi, Panathur Village, Doddanakkundi, TC Palya) – 335 residential project
under various stages of construction out of which 75 are villas/ row houses project.

North Bangalore
(Devanahalli, Doddaballapur Road, Yeshwanthpur, Malleswaram, Hebbal, Hebbal
Flyover, Jakkur, Jalahalli, KR Puram, RT Nagar, Yelahanka, Airport Road,
Bellary Road, HBR Layout, Hennur, Hennur Road, Rajaji Nagar, Sahakar Nagar, RMV
Extension, Thanisandra, Tumkur Road, Vidyaranyapura) – 219 residential real
estate projects under various stages of construction out of which 55 are villas / row houses project.

West Bangalore (Mysore
Road, Rajarajeshwari Nagar, Kengeri, Sanjay Nagar, Magadi Road, Uttarahalli,
Nagarbhavi) – 44 residential real estate projects under various stages of
construction out of which 8 are villas /
row houses project.

Other areas including
Bangalore central – 86 residential real estate projects under various stages of
construction out of which 29 are villas
/ row houses project.

So in total, 213 are villas / row houses project where there
is a possibility of automated garage doors.