The project of making MOFLIN, an AI pet robot with emotional capabilities was formed with the help of a partnership between Vanguard Industries and the Research and Development department of a large firm. This was to create something that feels real and cute along with worthy of becoming a partner of any person (Carrozza, 2019). The essential determinant towards the application of different ICT technologies are feeling love and giving love to others. The development of MOFLIN concept is done in such a manner that it makes a positive impact on the society. The company which is an innovation firm based in Tokyo, Japan is making an effort to develop MOFLIN in a way that it has the ability to enhance the Quality of Life. It can be done by becoming a communicator agent as novel lifestyles and values are emerging during these uncertain times of COVID-19 pandemic.
Before the successful deliver of the first product by the organisation which is aimed in March 2021, it is important to analyse the market. A market analysis could be quantitative as well as qualitative in nature. In this project, qualitative analysis is done. The various customer segments and the buying patterns along with consumer behaviour are looked into.
The analysis that determines how an organisation divides its customers into smaller groups is known as market segmentation. The basis for diving the customers into smaller groups could be characteristics like income, age or any personal trails. The benefit of making these segments is that it help to optimise the products later and advertise it to different customers.
According to a study conducted by Bain & Company, 81 per cent of executives have found that segmentation was essential for growth in profits. It was also found that the organisation which used the strategy of segmentation enjoyed a higher profit of 10 per cent as compared to the companies whose strategy of segmentation was not effective over a period of five years.
In the case of the AI pet robot, MOFLIN, the target market could be divided into approachable groups. The subset of the market could be based on behavioural criteria, demographics, priorities, needs and common interests. This is used to better understand the target audience.
One of the potential segment variable which should be used by the organisation should be psychographic segmentation. Under the elements, family should be chosen (Xue et al., 2020). This is due to the fact that attachment, attitudes, priorities, motivation all should be seen while segmenting the market. In family, all the age groups are covered especially the elder and the smaller ones who want to feel loved and cared (Chu, 2020). Since, MOFLIN is an AI pet robot with emotional capabilities, this must be considered. Also, it is essential to know the attitude behind the major motivation of the owner to manage and care the pet. The most common research of pet ownership tells that most people relate their pet as humans. They treat them as companion, friend or family member. These type of people should be targeted.
Carrozza, M.C., 2019. Our Friend the Robot. In The Robot and Us (pp. 41-52). Springer, Cham.
Chu, V., 2020. Method And System For Pet Owner Marketing, Data Analytics, And Risk Assessment. U.S. Patent Application 16/159,534.
Fujita, M., 2004. On activating human communications with pet-type robot AIBO. Proceedings of the IEEE, 92(11), pp.1804-1813.
Ivanov, S.H., 2018, July. Tourism beyond humans–robots, pets and Teddy bears. In Paper to be presented at the International Scientific Conference “Tourism and Innovations.
Xue, Y., Yan, R. and Zhang, X., 2020. Multi-sensory experience design analysis on elderly toy products. In E3S Web of Conferences (Vol. 179, p. 02128). E3S Web of Conferences.
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