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Launching a new product - Essay Example
Author : gbashirian
Pages 4 (1004 words)
Name: University: Course: Tutor: Date: Launching a new product 1.0 Background and problem Midomo Initiative is a non-profit organization that aims at providing clean water to developing countries. The organisation has commissioned Alex Monroe, an award winning jewellery designer to design the Midomo bracelet product that will be sold in the UK market…
The company currently operates in Singapore, but it is planning to extend its operations in the UK. The UK offers a vital market for the company bracelet due to the high rate of economic growth and high consumer disposable incomes of the population. More than 40 million people in the UK would be willing to buy the product and contribute towards charitable work due to the caring attitudes of the population and feminine culture that is replicated in the bracelet design. The number of wealthy and aged individuals is more than 10 percent of the total UK population (Oxford Business Group 222). The macro-environment is favorable since UK economy is currently experiencing a recovery after the recent financial crisis. UK also enjoys stable political environment and is a member of the EU thus making it easier for the organisation to expand to neighboring European countries. The UK population is highly educated and most of the citizens have access to the internet in their homes. UK citizens have caring attitudes towards the environment and life thus it will be easy for the product to penetrate the market. ...