Keywords : Post-Covid, Physical Cash, Transactions
The main aim of our Collaborative Design Project was to solve a system-level design issue of our choice in a Post-Covid Scenario. After our Initial mind mapping and brainstorming sessions, we decided to go ahead with Contactless, Physical Cash Transactions. We spent the first one week trying to understand the situation and the key problems faced through thorough primary and secondary research. We analyzed our problem statement well before proceeding and conducted a market study and research on existing alternatives. We started with our ideation in the third week keeping in mind all the feedback that we received. The Ideation was mainly divided into three main groups namely, Money Boxes, Wearables, and Sanitisation. We dove deep into all three categories and thoroughly understood the flaws that we had unknowingly ignored during the initial stages. In the end, we decided to go ahead with one of the wearable ideas that we had come up with, with further modifications. Our final product was a wearable glove which came with a pouch that can either be used as a waist pouch on the counter or even hanging from the
thela. Care was taken that the whole set comes at a low cost and that the material is durable yet comfortable for the user. From our feedback session, we understood multiple
aspects of the product which had a good scope of improvement.
Under the business model, we looked into what aspects of our product would make it stand out, and hence sell, from the perspective of profit. We considered multiple unique value propositions and competitive advantages based on that. The various networking and distribution channels involved were mostly under social media and direct distribution. Our revenue would mostly be based on direct product sale, collaborations and funds. We also tried to estimate our cost and expenses based on all the factors we would possibly invest in. Finally we made a very basic 18 month plan on how we would go about this whole venture from our current stage.
From team avoda.co
Anagha Aneesh (18U130004)
Drishti Das (18U130013)
Vanshaj Kumar (18U130029)
