EYEJUSTABLE – Adjustable Reading Glasses

A Product Proposal

Presented to

STI College Carmona

In partial fulfillment

of the subject

The Entrepreneurial Mind

Submitted to:

Mrs. Rowena Hebron

Submitted by:

Aquino, Edgelson

Chavaria, John Paul

De Guzman, Lalaine Joie

Legacion, Carlo

Torres, Nikki

Date:

September 12, 2019

II. Market Situation

Visual impairment - blindness - is another health issue that has been given
limited attention in spite of its impact on afflicted Filipinos. The Department of Health
warned that more than 2 million people in the country suffer from the low vision in both
eyes, where even with eyeglasses, contact lenses, medication or surgery, a person is
unable to see clearly.

A good pair of glasses costs around Php 2,000, the lens is not that durable as
well as the frame. These types of glasses have a fixed grade. If someone’s vision
changed, he is required to get a new one that will fit this vision and will cost him again
a huge amount of money. So, with our group, we are utilizing in creating Eyejustable.
Eyejustable is an adjustable reading glass that makes it easier for the person to
change its grade base on his/her taste. By the power of wireless signals, we can easily
control the Eyejustable in our preference using our smartphone.

III. Current Market Situation

a. Product Situation

Eyeglasses are the most common form of eyewear used to correct or

improve many types of vision problems. They are a frame that holds two pieces of
glass or plastic, which have been ground into lenses to correct refractive errors.
Glasses can correct many different vision problems, such as nearsightedness and
farsightedness, and help people achieve 20/20 vision.

Currently, the demands of these eyeglasses in the market were expected

and still uprising due to excess usage of gadgets and lack of disciplines of the
users that may lead to an early cataract or any eye-related diseases. Additionally,
these Eyeglasses were seriously needed in our society especially for those who
desperately needed to meet their Ophthalmologist for a monthly checkup.

Eyejustable:

• It benefits especially the children who are 10 years old and up. Because
nowadays with the technology we have, we can’t deny the excessive use of
gadgets, computers and other things that can damage our eyesight.
 • Now because of our product the ‘’EYEJUSTABLE’’ prevents and minimizes
the chances of the children having poor eyesight.
• Because we can adjust the grade of the lenses ourselves, we don’t need to
go to optical shops anymore just to get the grade of lenses changed. Thus,
lessening the expenses and time spent just for checkups.
• For the students and people who are working and as busy as they are, they
don’t need to worry because its case provides for the charging system.
• Also, as we grow older, there will be changes in our eyesight. Or the Age-
related Vision Changes, our product will help you adjust to this circumstance
due to its adjustable grade of lenses without changing the lens.
• You can control the grade of your lens through an app. It can also change
the color of your lens especially when it’s reflected by the sun rays.
• Eyejustable is water repellant, bendable, and scratch-resistant.
• Eyejustable also has a built-in camera that will allow us to capture important
moments that our eyes can see.

b. Competitive Situation
1. Adlens by All About Vision

Adlens adjustable eyeglasses are designed for use as a temporary or spare

pair of glasses, and the power of the lenses can be customized instantly to correct
from -6 diopters (D) of nearsightedness to +3 D of farsightedness with the simple
turn of a dial. They also can be adjusted for special visual needs, including reading
and computer use, or used to manage fluctuating vision for people with poorly
controlled diabetes or after eye surgery. (Gary Heiting, 2017)

2. The Adjustable Focus Reading Glasses

Unlike common reading glasses with fixed magnification, this pair lets one
adjust the focus of each lens from +0.50 diopters to +4.00 diopters with the turn of
a dial. Their unique focusing system employs a sliding lens held between two high-
impact resistance polymer plates that move inwards or outwards, subtly changing
the lens strength. The focus dials are discretely placed behind the lightweight
acetate frame and allow one to adjust each lens independently. The lenses have
an anti-scratch coating and the adjustable frames accommodate multiple shapes
and sizes. Includes case and a microfiber cleaning cloth. Not intended as a
replacement for prescription glasses does not correct astigmatism.

c. Distribution Situation

MANUFACTURER

RETAILER/
DISTRIBUTOR

CUSTOMER

EYEjustable has a simple distribution chart where it has only 3 channels

which are the Manufacturer, Retailer/ Distributor, and the Customer. It will
start from the Manufacturer where the raw products are collected to produce
the product, next is the retailer or the distributor where the product from the
Manufacturer/ Warehouse is delivered. These are the Optical Shop
 branches. Last is the customer who went to our branches, made a checkup
and customizes the eyeglass of their choice.
d. Macro Environment Situation

d.1 Demographic Environment

d.2 Technological Environment

EYEjustable is a state-of-the-art technology that upgrades the system

and culture of eyeglasses using. The product technologies can make an
ordinary eyeglass customize its grade base on the client's eye grade. Nano
chipsets were installed inside that use human censorship, we made it also user-
friendly for everyone easy to use our product. The product package also has a
manual so that everyone can learn from it on how to use it.

d.3 Economic Environment

COMPETITORS INFLATION

DEMAND GDP

ECONOMIC
MARKET SIZE
ENVIRONMENT
SUPPLY CONSUMER

SUPPLIER CONFIDENCE
S

d.4 Political-Legal Environment

• Before the company launches. We make sure that the legalities were all
been processed and registered; the SEC (Security and Exchange
Commission) for business operations and partnership, DTI (Department of
Trade and Industry) to make sure that our product prices and safeness scale
is verified correctly and also other local permit requirements.
• We hired licensed eye specialist to make sure that we will cater the
customer's eye problems correctly and precisely; hired other employees in
the organization with an idea/experienced on the field that we are in and
 certified technicians for product maintenance as well as for product
innovations
• Our employees will abide by the labor law (Article 83 in Labor Code) where
they just required working 8 hours daily 5-6 days per week.

d.5 Socio-cultural Environment

Eyeglass has been an aid or poor eyesight in any age over generations;
though we have the contact lens in the market many of the population tend to
choose using eyeglasses. Some would say that it helps to correct your eyesight
base on their grade, but some would say that using eyeglass indicates a lifetime
partnership that will eventually lead to severe eye damaged. But looking at the
bright side almost most of the people still, prefer to use eyeglasses.

IV. Situational Analysis

a. Opportunities/Threats Analysis
Opportunities
• We can have a help mission to raise awareness and educate people
to take good care of their eye, that’s it’s better to prevent than to cure
• As early as 1 year of age we can have a possible client once their
diagnosed to have bad eyesight.

Threat Analysis

• Average to High-status person or family will just be the possible

buyers because of the price.
• From blue ocean business to red ocean when technology with the
same aid spreads.
b. Strengths/Weaknesses Analysis
Strengths
• You can customize your lens grade on your own as soon it is
needed
• You don’t need to visit optical clinics because it’s a onetime
appointment
• Easy to use or user-friendly
 • Very lightweight
• It comes on 3 different classification that suits you

Weaknesses

• Quite pricey
• Once you choose your frame you cannot change it anymore
• Others bait is plain eyeglass and very cheap
c. Issue Analysis
• How can we retain the loyalty of customers to purchase our product?
We can retain the loyalty of our customers to purchase our product by
giving them a very good quality of the product, a product that they can use
for a long time. We can also give them promos like exclusive royalty
privilege for our long-term loyal customers. By then we can have their trust
and loyalty that will give us long term and new possible buyers.
• As a number year passed, should we continue producing the same pair of
eyeglasses or produce other features of the product.
Change is inevitable as well as client needs or preferences. For us to
stay a long time in the business industry, we have to innovate our product
from time to time, we need to adjust fastly so for our client satisfaction.
• How can we compete with others?
We don’t need to think of competing others instead we need to think
about how we can improve our product as well as its service. We will
customize our product base on the client requirement and needs that will
eventually lead to unconsciously compete with others.
• What will be the ways to introduce our product now that we’re just starting?
Digital Marketing is the best way to introduce our product; it can reach
the broader radar of networks or possible buyers from different mediums
such as social media flatforms such as Facebook, Instagram, etc. But of
course, we can also do the old method way which is the leaflets in our area
for a possible walk-in client.

V. Financial Objectives

Our business aims, to earn enough profit from the sales of our products.
Having a stable profit to cover all costs and the expenses to help us maintain giving
good quality products and retain in the market. Increase our sales and earnings
annually, attracting stockholders and business partnerships. By adapting to the
standards of pricing strategy, we will be able to cater to the low-end market and
high-end market that will result in bigger cash flow, and faster revenue.
Bibliography
Gary Heiting, O. (2017). Adjustable Glasses: The Future Of Multifocal Lenses?
Retrieved from All About Vision:
https://www.allaboutvision.com/lenses/variable-focus.htm

The Adjustable Focus Reading Glasses. (2016). Retrieved from Hammacher

Schlemmer: https://www.hammacher.com/product/adjustable-focus-reading-
glasses-1

Martina, C. (2017, August 12). Number of vision-impaired Filipinos on the rise -

DOH. Retrieved from Mims Today: https://today.mims.com/number-of-vision-
impaired-filipinos-on-the-rise---doh