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Outreach<br />
Our MVP will be our initial launched product and will be<br />
executed through a Kickstarter campaign. This campaign will be<br />
used to aid in the promotion and pre sales of the Pact system.<br />
We aim to set a realistic and achievable goal for the campaign<br />
but do not wish to rely solely on the campaign for project<br />
funding. We are hoping to already be funded before the start of<br />
the campaign and are using the crowd-funding platform purely<br />
as a way to advertise the product. To drive potential customers<br />
to the Kickstarter campaign we will implement a marketing<br />
strategy that utilises both web and social media marketing. This<br />
would be implemented to grow a unique and organic customer<br />
base. Once the Kickstarter has been successfully funded,<br />
the Pact system will be sold through the Pact website and at<br />
appropriate trade shows. This will work to increase the brand<br />
awareness and also provide a direct sales channel to provide<br />
maximum profitability.<br />
Innovation<br />
As innovation is the forefront of Pact’s value proposition and<br />
business model, routing the incoming revenue from the 3rd stage<br />
(outreach) towards product development is essential. Pact will<br />
be able to be incrementally updated with new firmware whenever<br />
it is to become available, working to keep the first versions of<br />
the Pact system as reliable and advanced as the latest. This will<br />
be implemented to combat product obsoletion which is very<br />
prevalent in the current technological landscape.<br />
The first foreseeable innovation to the Pact system would be to<br />
move away from physical SD card data storage and move to a<br />
cloud based storage system. Currently, the Pact system stores<br />
the data on a SD card, which is great unless the system is to<br />
be stolen or damaged. Updating the system to a cloud storage<br />
system would alleviate this issue as well as provide a stronger<br />
network for the system to run off. In regards to our MVP and<br />
current product development, it was decided that developing<br />
a cloud compatible system would be too time and resource<br />
consuming for our initial product offering. Although, as revenue<br />
is acquired throughout the product’s development, the creation<br />
of the cloud system is a viable option which we can seamlessly<br />
implement into the current system.<br />
<strong>PACT</strong> 18
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