Market analysisA market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.
Market segmentationIn marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar s.
Market researchMarket research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Target marketA target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind.
Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
User experience designUser experience design (UX design, UXD, UED, or XD) is the process of defining the experience a user would go through when interacting with a company, its services, and its products. Design decisions in UX design are often driven by research, data analysis, and test results rather than aesthetic preferences and opinions. Unlike user interface design, which focuses solely on the design of a computer interface, UX design encompasses all aspects of a user's perceived experience with a product or website, such as its usability, usefulness, desirability, brand perception, and overall performance.
User experienceThe user experience (UX) is how a user interacts with and experiences a product, system or service. It includes a person's perceptions of utility, ease of use, and efficiency. Improving user experience is important to most companies, designers, and creators when creating and refining products because negative user experience can diminish the use of the product and, therefore, any desired positive impacts; conversely, designing toward profitability often conflicts with ethical user experience objectives and even causes harm.
PrototypeA prototype is an early sample, model, or release of a product built to test a concept or process. It is a term used in a variety of contexts, including semantics, design, electronics, and software programming. A prototype is generally used to evaluate a new design to enhance precision by system analysts and users. Prototyping serves to provide specifications for a real, working system rather than a theoretical one. In some design workflow models, creating a prototype (a process sometimes called materialization) is the step between the formalization and the evaluation of an idea.
Software prototypingSoftware prototyping is the activity of creating prototypes of software applications, i.e., incomplete versions of the software program being developed. It is an activity that can occur in software development and is comparable to prototyping as known from other fields, such as mechanical engineering or manufacturing. A prototype typically simulates only a few aspects of, and may be completely different from, the final product. Prototyping has several benefits: the software designer and implementer can get valuable feedback from the users early in the project.
Paper prototypingIn human–computer interaction, paper prototyping is a widely used method in the user-centered design process, a process that helps developers to create software that meets the user's expectations and needs – in this case, especially for designing and testing user interfaces. It is throwaway prototyping and involves creating rough, even hand-sketched, drawings of an interface to use as prototypes, or models, of a design. While paper prototyping seems simple, this method of usability testing can provide useful feedback to aid the design of easier-to-use products.
LidarLidar (ˈlaɪdɑːr, also LIDAR, LiDAR or LADAR, an acronym of "light detection and ranging" or "laser imaging, detection, and ranging") is a method for determining ranges by targeting an object or a surface with a laser and measuring the time for the reflected light to return to the receiver. LIDAR may operate in a fixed direction (e.g., vertical) or it may scan multiple directions, in which case it is known as LIDAR scanning or 3D laser scanning, a special combination of 3-D scanning and laser scanning.
AVR microcontrollersAVR is a family of microcontrollers developed since 1996 by Atmel, acquired by Microchip Technology in 2016. These are modified Harvard architecture 8-bit RISC single-chip microcontrollers. AVR was one of the first microcontroller families to use on-chip flash memory for program storage, as opposed to one-time programmable ROM, EPROM, or EEPROM used by other microcontrollers at the time. AVR microcontrollers find many applications as embedded systems.
TeamA team is a group of individuals (human or non-human) working together to achieve their goal. As defined by Professor Leigh Thompson of the Kellogg School of Management, "[a] team is a group of people who are interdependent with respect to information, resources, knowledge and skills and who seek to combine their efforts to achieve a common goal". A group does not necessarily constitute a team. Teams normally have members with complementary skills and generate synergy through a coordinated effort which allows each member to maximize their strengths and minimize their weaknesses.
Push-buttonA push-button (also spelled pushbutton) or simply button is a simple switch mechanism to control some aspect of a machine or a process. Buttons are typically made out of hard material, usually plastic or metal. The surface is usually flat or shaped to accommodate the human finger or hand, so as to be easily depressed or pushed. Buttons are most often biased switches, although many un-biased buttons (due to their physical nature) still require a spring to return to their un-pushed state.
Software development kitA software development kit (SDK) is a collection of software development tools in one installable package. They facilitate the creation of applications by having a compiler, debugger and sometimes a software framework. They are normally specific to a hardware platform and operating system combination. To create applications with advanced functionalities such as advertisements, push notifications, etc; most application software developers use specific software development kits.
PIC microcontrollersPIC (usually pronounced as [phɪk]) is a family of microcontrollers made by Microchip Technology, derived from the PIC1650 originally developed by General Instrument's Microelectronics Division. The name PIC initially referred to Peripheral Interface Controller, and is currently expanded as Programmable Intelligent Computer. The first parts of the family were available in 1976; by 2013 the company had shipped more than twelve billion individual parts, used in a wide variety of embedded systems.
MicrocontrollerA microcontroller (MCU for microcontroller unit, also MC, UC, or μC) is a small computer on a single VLSI integrated circuit (IC) chip. A microcontroller contains one or more CPUs (processor cores) along with memory and programmable input/output peripherals. Program memory in the form of ferroelectric RAM, NOR flash or OTP ROM is also often included on chip, as well as a small amount of RAM. Microcontrollers are designed for embedded applications, in contrast to the microprocessors used in personal computers or other general purpose applications consisting of various discrete chips.
Software developmentSoftware development is the process of conceiving, specifying, designing, programming, documenting, testing, and bug fixing involved in creating and maintaining applications, frameworks, or other software components. Software development involves writing and maintaining the source code, but in a broader sense, it includes all processes from the conception of the desired software through the final manifestation, typically in a planned and structured process often overlapping with software engineering.
Battery chargerA battery charger, recharger, or simply charger, is a device that stores energy in a battery by running an electric current through it. The charging protocol (how much voltage or current for how long, and what to do when charging is complete) depends on the size and type of the battery being charged. Some battery types have high tolerance for overcharging (i.e., continued charging after the battery has been fully charged) and can be recharged by connection to a constant voltage source or a constant current source, depending on battery type.
ActuatorAn actuator is a component of a machine that is responsible for moving and controlling a mechanism or system, for example by opening a valve. In simple terms, it is a "mover". An actuator requires a control device (controlled by control signal) and a source of energy. The control signal is relatively low energy and may be electric voltage or current, pneumatic, or hydraulic fluid pressure, or even human power. Its main energy source may be an electric current, hydraulic pressure, or pneumatic pressure.
