You work for a firm that designs and assembles consumer electronics devices for which you are to assist with reviewing customer traffic usage patterns. In Part 2 you are asked to assist with planning innovation and product development. Part 3 concerns operations aspects for which cost characteristics of a workshop are to be used to assess profitability. The firm has some market research results on the average time spent online per day by different types of UK households. Examine the table below for two household groups: Segment data: Time online per day (hours) Segment 2 6.876 9.548 8.036 9.220 8.988 Segment 8 7.896 8.834 7.644 9.884 9.114 The firm has a Smart Home unit with a network router of 7.5 hours capacity/day which is engineered to handle (occasional) peaks of 40% above the Normal usage. The proposed 3 router size capacities are, small = 6.5 hours capacity/day, medium = 8.5 hours capacity/day and high = 10.5 hours capacity/day The firm is looking to invest (in Year 0) in the design and development of 'Smart Home' devices for which a Return of 30% is desired by the firm which anticipates an annual income of 58,000 for Years 1 through 3. The UK 'Smart Home' devices being developed are ones that focus on Home Automation to monitor and reduce energy usage (and cost) within a home. Each design feature takes 10 weeks to develop and requires a team of 3 to 6 developers with a labour rate of 150/day. Q) Briefly introduce your product/system - what product "concept" (idea) do you propose and discuss briefly your ideas on tracking project progress (including resources etc..) during the development stages: i. Identify (preferably tabulated) key features and benefits for 3 market segments (for the residential market) with a focus on value creation. ii. Identify (preferably tabulated) and explain a Minimum Viable Product, MVP (a subset of your proposed product/system). iii. Given that the development costs of the MVP are 60,000 - what other features do you propose be developed? Examine the financial implications of including some of the features that you identified in your product "concept". What do you propose? iv. Is your project proposal worth doing if you take into account the 'Time Effect of Money' (10% discount factor)? The firm is looking to invest in Year 0) in the design and development of 'Smart Home' devices for which a Return of 30% is desired by the firm which anticipates an annual income of 58,000 for Years 1 through 3. The UK 'Smart Home' devices being developed are ones that focus on Home Automation to monitor and reduce energy usage (and cost) within a home. Each design feature takes 10 weeks to develop and requires a team of 3 to 6 developers with a labour rate of 150/day. Briefly introduce your product/system - what product concept" (idea) do you propose and discuss briefly your ideas on tracking project progress (including resources etc..) during the development stages: i. Identify (preferably tabulated) key features and benefits for 3 market segments (for the residential market) with a focus on value creation. ii. Identify (preferably tabulated) and explain a Minimum Viable Product, MVP (a subset of your proposed product/system). iii. Given that the development costs of the MVP are 60,000 - what other features do you propose be developed? Examine the financial implications of including some of the features that you identified in your product concept. What do you propose? iv. Is your project proposal worth doing if you take into account the 'Time Effect of Money' (10% discount factor)? You work for a firm that designs and assembles consumer electronics devices for which you are to assist with reviewing customer traffic usage patterns. In Part 2 you are asked to assist with planning innovation and product development. Part 3 concerns operations aspects for which cost characteristics of a workshop are to be used to assess profitability. The firm has some market research results on the average time spent online per day by different types of UK households. Examine the table below for two household groups: Segment data: Time online per day (hours) Segment 2 6.876 9.548 8.036 9.220 8.988 Segment 8 7.896 8.834 7.644 9.884 9.114 The firm has a Smart Home unit with a network router of 7.5 hours capacity/day which is engineered to handle (occasional) peaks of 40% above the Normal usage. The proposed 3 router size capacities are, small = 6.5 hours capacity/day, medium = 8.5 hours capacity/day and high = 10.5 hours capacity/day The firm is looking to invest (in Year 0) in the design and development of 'Smart Home' devices for which a Return of 30% is desired by the firm which anticipates an annual income of 58,000 for Years 1 through 3. The UK 'Smart Home' devices being developed are ones that focus on Home Automation to monitor and reduce energy usage (and cost) within a home. Each design feature takes 10 weeks to develop and requires a team of 3 to 6 developers with a labour rate of 150/day. Q) Briefly introduce your product/system - what product "concept" (idea) do you propose and discuss briefly your ideas on tracking project progress (including resources etc..) during the development stages: i. Identify (preferably tabulated) key features and benefits for 3 market segments (for the residential market) with a focus on value creation. ii. Identify (preferably tabulated) and explain a Minimum Viable Product, MVP (a subset of your proposed product/system). iii. Given that the development costs of the MVP are 60,000 - what other features do you propose be developed? Examine the financial implications of including some of the features that you identified in your product "concept". What do you propose? iv. Is your project proposal worth doing if you take into account the 'Time Effect of Money' (10% discount factor)? The firm is looking to invest in Year 0) in the design and development of 'Smart Home' devices for which a Return of 30% is desired by the firm which anticipates an annual income of 58,000 for Years 1 through 3. The UK 'Smart Home' devices being developed are ones that focus on Home Automation to monitor and reduce energy usage (and cost) within a home. Each design feature takes 10 weeks to develop and requires a team of 3 to 6 developers with a labour rate of 150/day. Briefly introduce your product/system - what product concept" (idea) do you propose and discuss briefly your ideas on tracking project progress (including resources etc..) during the development stages: i. Identify (preferably tabulated) key features and benefits for 3 market segments (for the residential market) with a focus on value creation. ii. Identify (preferably tabulated) and explain a Minimum Viable Product, MVP (a subset of your proposed product/system). iii. Given that the development costs of the MVP are 60,000 - what other features do you propose be developed? Examine the financial implications of including some of the features that you identified in your product concept. What do you propose? iv. Is your project proposal worth doing if you take into account the 'Time Effect of Money' (10% discount factor)