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Market analysis/Audit Define the market (who is the target audience). 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…
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. From research that was gathered, it was 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. Swot analysis on the product p.135 (principles of marketing book) threats: legislative effects problems with patent market demand Strengths: The prime strength for this product is the fact that of the technological edge that it possesses. For instance, the fire alarm comes with a voice recognition that has dramatically blown its competition. Moreover, the company’s voice recognition is the fastest growing segment in the fire alarm industry. The product itself is an amazing product in the market because it has a special alarm activated voice notify system. No other product can compete with this product in the market. ...
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