A Business In The Product Of Wristband That Will Repel Mosquito

Question: Discuss about the Business In The Product Of Wristband That Will Repel Mosquito. Answer: Introduction Since million years ago the people used to die from the bites of mosquito since these mosquitoes were very dangerous and carried mosquito-borne diseases every year, and there are many experiences of pain and sufferings from the illness which is transmitted by the mosquitoes. The Aedes mosquitoes, primarily Aedes aegypti (the Yellow Fever mosquito) and to a lesser extent Aedes albopictus (the Asian tiger mosquito), are very dangerous and is responsible for spreading mosquito-borne viruses. These include dengue, Zika, chikungunya and yellow fever (R auch-Williams et al., 2016). Mosquitoes are the cause of numerous numbers of diseases, such as malaria, dengue, tularemia, dirofilariasis, Japanese encephalitis, Saint Louis encephalitis and numerous more viruses. Statistics shows that mosquito bites cause death of million people in average each year in the world (Dearden et al., 2017). Dengue fever has infected many people causing death which causes economic cost in those affected countries .Zika is also an emerging threat which is spread all around America since 2015, which causes birth defects to the children and infecting the mothers. Chikungunya and yellow fever are very painful and it spreads diseases which is fatal and epidemic in the recent years (Lee, 2015). Body The best possible way to help spreading the disease caused by mosquito is to control the way it get transmitted, so there is a need to came up with a product and starting a business of a technology solution provider focusing on mosquitoes and pest control and chemical that will help to serve the cause and the need. This will be a partnership business since all the partners will invest in the business so that each and every one is able to contribute in the society and help the people to live a better life. Upon understanding the need there came up with an idea of fulfilling the need by coming forward with a unique wristband that will repel mosquitoes. It will give out energy in your body that will repel mosquitoes. If the mosquito comes in contact with the skin it gets repealed by the energy which will shock the mosquito. It is kept in mind about the harmfulness of mosquito and it has passed all authentication tests (Baker et al.,2015). The product is a small belt which is to be worn in any of the hand. The belt is made up of fibre and steel, powered with battery which gives out static energy which flows in skin which shocks the mosquito as soon as it comes in contact with the skin. To manufacture the product a unit has to be created and from there the product will be distributed around different distributor. Distribution partners needs to be created to support the business. For this purpose a marketing team needs to be created who will maintain the distribution channel. The target Market of this product is that it does not only have a specific target market, the market for this product is open to one and all with no barriers. The product is a requirement for each and every person regardless of their gender, age, demographic differences. The product has huge market and need (Yang et al., 2014). The geographical target market is the distribution that will be started locally and as the business generates cash flow the investment will be made for expansion. A partnership firm is started where the investment will be made by all the partners taking the help of banking finance (Green Gouge, 2015).The product is the need of the hour and need of each and every person. The market is huge with great possibility so the product needs to be advertised and should be given full exposure so that it spreads faster (OBrochta, 2016). The money which is needed to set up a plant and marketing team will go up to one million dollar. The investments made are expected to break-even in a period of 8 to 9 months. The raw materials such as fibre, steel, battery etc are to be procured. After assembling of the product in the plant it will be stocked and eventually delivery will be made. It is intended to create a research and development team which can further develop the product. A research and development team will always keep the product updates so that the product does not lay back. It is expected that there will be soon competition in the market as companies will come up with similar products. In order to do evaluation of the business idea swot analysis on the market is done. The market is completely new and in this kind of situation is very favourable which is also called as Blue Ocean which means the market is new and there is no competition which signifies the ocean is blue. Once the product is launched soon there will be competitors who will come up with similar products and the blue ocean will turn read (Dietz, Bell Leshko, 2014). In order to start a new partnership business it is important to apply for the name and apply for the business number and tax registration. The business will be started in a small scale therefore a partnership agreement is drafted between four partners and each and every one has contributed to the capital. The business is started for profit motive and it is regulated by the Partnership Act. The partnership is not a separate legal entity.Each partner will be personally liable, jointly and severally, for the liabilities of the partnership. The liability of each partner is unlimited except in the case of limited partnerships. Conclusion First mover advantage will give us a head start which if managed well will keep the company in leading position. There is no treat yet as the market is new. Opportunity is very high with a big market. The need is very high which is expected to create high demand which will generate higher sales. The biggest threats to the product face the easy entry with no barrier. Any new product can easily enter the market and create hindrance for the company. References Baker, B. P., Cooley, D., Futrell, S., Garling, L., Gershuny, G., Green, T. A., Young, S. L. (2015). Organic Agriculture and Integrated Pest Management: Synergistic Partnership Needed to. Dearden, P. K., Gemmell, N. J., Mercier, O. R., Lester, P. J., Scott, M. J., Newcomb, R. D., ... Penman, D. R. (2017). The potential for the use of gene drives for pest control in New Zealand: a perspective.Journal of the Royal Society of New Zealand, 1-20. Dietz, T., Bell, J., Leshko, C. (2014). 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