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Engineering Entrepreneurship Assign No 2

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Faisal Mehrban
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12 views17 pages

Engineering Entrepreneurship Assign No 2

Uploaded by

Faisal Mehrban
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Engineering Entrepreneurship

Assignment No.2
Submitted To:
Dr. Salman Abbasi

Submitted By:
2021-ME-418 2021-ME-435

2021-ME-438 2021-ME-441
AI based software that gives ideas to
decorate a home or Room
Executive summary

As we know AI (Artificial Intelligence) is on


trending and use in every field. So our vision is
to make a AI Tool Technology based software
tool that can detect the room structure,
interior design, and make recommendations
for furnishing and improvement needs. These
tools can help users visualize their space, try
out different furniture arrangements, and
experiment with different colors and styles.
Company description

AI Tool Technology based software tool that can


detect the room structure, interior design, and make
recommendations for furnishing and improvement
needs. o make your tool more accessible and user-
friendly, you could consider developing a mobile app
and incorporating augmented reality features. This
would allow users to easily access the tool on their
phones or tablets and use their camera to visualize
how different products and designs would look in
their actual space.
The way to generate revenue
and provide additional value
to customers is by partnering
with furniture and home
decor retailers. You could
integrate your AI tool with
these retailers' online
catalogs, allowing customers
to purchase recommended
products directly through the
tool. This would create a
seamless shopping
experience and could help
drive sales for both the
retailers and your business
Market Analysis
It is important to research and understand the
existing competition and offerings in the market
before investing in the development of a new
AI tool for home interior design. You may want
to consider how your AI tool can differentiate
itself from existing solutions and provide
additional value to customers. Additionally, it is
important to consider the potential customer
base and target market, and how to effectively
reach and market to these users.
Product or service description

While personalization is a key feature of your AI


tool, you could consider providing even more
customization options for users. For example,
you could allow users to input their own
furniture and decor items to see how they
would fit into the space. You could also provide
more options for color and style preferences,
and allow users to save their favorite
recommendations for future reference.
Marketing and sales strategy
Social media marketing
Social media platforms like Instagram,
Facebook, Youtube, Twitter, Tiktok,
LinkedIn and Pinterest are ideal for
showcasing your AI tool and the
benefits it offers. You could create
visually appealing posts and ads that
showcase the tool in action and
demonstrate how it can help users
design their ideal space. You could
also consider partnering with
influencers in the home decor and
interior design space to reach a wider
audience.
Email Marketing
Email marketing can be an effective way
to nurture leads and drive sales. You
could use email to promote new features
and updates to your AI tool, share
success stories from satisfied customers,
and offer exclusive discounts and
promotions to encourage users to sign up
for your tool.
Content marketing

Content marketing is a great way to build


brand awareness and establish yourself
as an authority in the industry. You could
create blog posts, videos, and other
content that provide design tips,
showcase your tool's capabilities, and
highlight success stories from happy
customers.
Financial projections
To estimate our revenue projections, we will need
to consider factors such as the number of
customers you expect to attract, the pricing
model we plan to use, and our sales cycle. We
could use market research and industry
benchmarks to estimate our customer acquisition
costs and determine a reasonable pricing
strategy. For example, we could charge a monthly
subscription fee for access to our AI tool, or
charge a percentage of the total purchase price of
any furniture or decor items purchased through
the tool.
E n d
T h e

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