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Market analysis/ Audit - Essay Example

In essence, the product has been tested millions of time before being established in the market place. With it is fantastic design, the product is a very high-quality that continues to deliver amazing value for its price. Clearly, the product delivers from point A to point Z. Weakness: Although the company is poised to make a strong commitment to its product, its fairly new in the market. Hence, the company must have accumulated to several long-term debt. In addition, it must have solid IT group that specializes n this type of technology because of the product uniqueness. The company does have many opportunities to create new channels for its product. Another huge barrier that technology may be difficult to achieve, with every changing innovations that continue to plague the marketplace. For instance, it can potentially create an application that enables users to open it with the touch of a button from their phone. Moreover, the business itself of the alarm is amazing business as it has the potential to hit $3.5 million. The Company can penetrate different channels of marketing its brand through constant technological avenues. With the advent of cloud computing, the company can really solidify its brand through the e-procurement process. Moreover, the company can lobby for tax breaks as a company for energy-saving rebates. Lastly, the company has a potential to go global, which is a unique selling point in its sphere The threats that continue to plague the industry are many that must be mitigated. For instance, the economic recession globally has continued to plague the international and domestic markets. Due to this recession, the fire alarm equipment industry has been impacted in a negative manner. Hence, the...
The paper tells that in the 21st century, the aspects related to creating a market and business plan have dramatically changed. In order to penetrate the market, the company must attempt to find their market segment. The first market that is exploitable is the student body in universities. As a company, it is crucial that students are aware of this product because majority want the assurance of security. Another market that is feasible for the company to penetrate are the government officials who can derive the benefits of the product. Another market that the company is interested in are the banks. Since security is such a focal point for these institutions, it makes logical sense to compete to attract that market niche. Finally, healthcare companies should be able to be amazed at this product. Companies such as Blue Cross must adhere to strict auditing rules of auditing due to data integrity. Hence, this product will accommodate to all their needs. Market segmentation is crucial in order to understand which markets to exploit. The first market segment would be college students who are residing in their dormitories. This is a huge market because burglary is a huge focal point at the university level. The second market segmentation that would be exploited through appealing to hard public infrastructure government buildings. Government buildings have the necessary funds to allocate to these special type of alarms and can deeply derive the benefits of this product. ...Show more
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Summary

From the current research it is clear that the product must have conditional and epistemic values associated with the product. Therefore, the focus should be to diversify the product to the Demographic profile that the company wants to accommodate…
Author : hardy54
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