The Hover Camera: A Pioneer in Selfie Drones
Discuss about the Business Report Of Zero Zero Robotics.
Zero Zero Robotics is the pioneer in the marketing of selfie drones. Although they are widely regarded as the robotics company invested majorly in manufacturing robots, the company also focuses on manufacturing and more importantly researching on innovating consumer friendly electronic gadgets. Artificial intelligence is the major factor in their innovations. The ‘Hover Camera’ is the selfie drone sold by the company. It was founded in 2014 in Beijing. Mengqiu wang is the founder of the company. Today it has more than 200 employees.
With artificial intelligence integrated in its light small scale body, it can travel and take decisions on its own. This is a completely new aspect in today’s world. Taking photographs and specially selfies has become a social phenomenon. Thus applying the convoluted engineering with latest business trend, the Hover Camera from Zero Zero Robotics is truly a special treat for any photographer.
Recently, it has been speculated that the Snap Company is interested in acquiring Zero Zero Robotics. This indeed is an unfortunate affair as startup companies like Zero Zero Robotics have much to offer. Without proper business models and guidance, any company may fail in the market. This report suggests a new business model. Through the application of such strategic business models, the company can prosper in the market.
Social Media is social phenomenon that has huge marketing opportunity. Zero Zero Robotics have done well with their innovations. However, with high competition from heavyweight multinational companies, it has become immensely hard to keep their place in the market. Snap, the parent company of Snapchat has been rumored to have been interested in buying the company. Competing with companies with such high financial supporting can be daunting.
With the growth of the company, Zero Zero Robotics has seen a huge increment in their demand of products. The company needs to grow rapidly and needs to adapt to the requirements of their growing customers (Sahut & Peris-Ortiz, 2014). Since innovation has been their special attraction, keeping that reputation in the market means to come up with new ideas on a daily basis. This needs a huge research team. Funding a research team of such stature has been the cause of failure for many companies in their initial stage. Zero Zero Robotics has not come up with anything other than this product. This indicates their lack of man power in the relevant fields.
Initiatives and Innovations with Artificial Intelligence
Professionals are needed to carry out the experiments and work on innovative ideas. Hiring such skilled labor is major hindrance in their growth. Major problem that Zero Zero Robotics is facing at the moment is that of generating fund to expand their businesses.
Business problems as discussed above can be dealt with properly designed and executed solutions. There are different administrative bodies to deal with such and provide adequate financial support to the company (Zuccarino & Rafii, 2015). The primary concern for the governing body or the board of directors is to increase revenues and expand the business as a whole. The most important aspect of business that Zero Zero Robotics needs to deal with is increasing their product range (Levin, 2017). Their primary selling product has been the Hover Camera. However, with stiff competition coming from major multinational companies, Zero Zero needs to widen their horizon of products. The company requires to accumulate sufficient amount of fund to expand their Department of Research and Development. The R&D department is primarily focused on innovating something new.
Security has been enhanced a lot in the recent years through the usage of cameras. With facial recognition software also on a positively steady development, Zero Zero can launch security cameras that are focused on facial recognitions (Selvanathan, Selvanathan & Keller, 2016). This can be used on an individual scale to even providing security video feed for an entire stadium. The company may even consider collaborating with a security company for now. Since artificial intelligence is embedded in these devices, facial recognition can be a really helpful toll in the matter of providing security.
Taking into account the rapid growth of the company in the recent years, hiring professionals to ensure the designing of such devices can be possible. Experts from various fields can be hired to ensure the outcome of a quality product. The feasibility lies in the fact that most of the work is actually done by artificial intelligence. With its much hyped usage, artificial intelligence can be regarded as the ultimate innovation in the future.
Manufacturing and marketing such devices as per the need of the customer can be assiduous. Hiring professionals for every relevant field of expertise shall help the Zero Zero Robotics company immensely (Rmwilliams.com.au., 2018). As Australian customers have tendency to stick to their preferred choice and not being swayed simply, the Research and Development team needs to produce something new for the company to launch in order to attract buyers. The marketing ventures shall include advertising on various fields such as social media, online video streaming sights, blogs, websites. Even the gold old advertising through hoardings may be effective in the local market and abroad as well. The company has enough turn out to provide funds for a good marketing campaign. This is a feasible business plan for the Zero Zero Company to follow. ...
Challenges of Rapid Growth and High Competition
The suggested marketing strategy can be incorporated by the Zero Zero Company by the application of Osterwalder and Pigneur model. The Key partners of the aforementioned model are software developers, that is, apart from the external hardware suppliers (Qian & Haynes, 2014). As suggested before, the partners that are to be included in the business ventures are the security professionals. Key activity of this new group will be to ensure the real life application of the security video feeds. Without proper guidance this may become an issue for people in general. The focal selling point of Zero Zero Robotics and more specifically for Hover Camera has been its uniqueness in terms of artificial intelligence and light weight design. The company has been able to maintain a certain level of high quality output and customer relation with the return policy. The customer class comprises of people who lead a certain level of luxurious life and can afford a lifestyle with such high security device. Since security is a major concern for all people, all those who can afford it will be inclined to buy it. Key resources will be the internal members of the Research and Development team (Dijkmans, Kerkhof & Beukeboom, 2015). Channels that are been used by the company are inclusive of social media sites such as Facebook, Twitter to publicize the company’s name and its products. Other e-journals and e-news websites along with blogs have also been used or at least planned to be used for advertisement. The required are of expenditure for the Zero Zero Company is the hardware for manufacturing the devices. The payment towards employment wages and providing sufficient technology for the workers is also a big challenge in terms of finance.
The factors that essential and mandatory for the business model to succeed in reality is called the critical success factors. As the name suggests, these are absolutely crucial for the business to thrive (Bhattacharya, 2014). The major challenge for the Zero Zero Robotics would be to incorporate the two fields of selfie drones with artificial intelligence and providing security on all scales of numbers. Thus the first critical factor would the accumulation of the two. However, if the product is to sold on an individual scale as well, the pricing has to be made sure. Initially the company cannot launch different deices for each different usage. Hence, the second critical factor would the pricing of the device in the market.
In conclusion, it can be safely said that the suggested new business model and activity of launching a new device which is inclined towards securing the safety of people hall be a successful business venture if implied and execute properly (Dougans, 2016). The necessary steps and administrative decisions are to be taken accurately.
To produce a good quality group project work, all the members of the group need to contribute equally and to their best. The other members of the group have been immensely helpful and have worked to their best for this project. All have come up with novice ideas that have ultimately helped in producing this report (Osterwalde, & Pigneur, 2010). They have Brainstorming ideas even before we had started on officially working on this project. Exchanging ideas are what makes group projects so effective and fruitful. There were plenty of meetings and discussion sessions t exchange and collaborate ideas.
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Rmwilliams.com.au. (2018). Handcrafted Leather Boots, Clothing & Belts - R.M.Williams. Retrieved from https://www.rmwilliams.com.au/
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Levin, A. (2017). Hover Camera. Journal of Property Management, 82(2), 32-33.
Zuccarino, T., & Rafii, A. (2015). U.S. Patent Application No. 13/987,323.
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