Market overview for elevator products and services

Market overview for elevator products and services Aggregate global demand for elevator / escalator products and services is projected to increase 5.6% per year through 2009 to more than $20 billion. Fueling gains will be economic recovery and expansion in the mature markets of the developed world, coupled with ongoing industrialization among the less advanced countries of Asia. The world elevator market rose at a relatively healthy pace throughout most of the 1990s in a generally sanguine global macroeconomic climate. Basically strong economic growth in developing countries was briefly interrupted in 1997-1998 by a financial crisis engulfing many East Asian and Latin Americans nations, as well as Russia. Fallout form the crisis continued to adversely impact the elevator market into 1999 and 2000, as trends in the elevator market tend to lag developments in the macro economy by a few years. Subsequently, as the emerging market began to recover, growth in Western Eur0pe and North America was depressed in the wake of the global economic slowdown precipitated in the US, although by 2004 a recovery was apparent in most markets. In the developed world, gains will reflect an expected recovery in office construction, as vacancy rates come down in major global financial centers such as Tokyo and London. Over the long term, development of the residential sector, especially in the largely untapped US market where single-family homes predominate, will also create opportunities, supported by again populations and regulations such as the Americans with Disabilities Act. In Europe, adoption of new EU-wide safety regulations for existing lifts will bolster the modernization/upgrade service segment. The fastest growth is anticipated in the worlds developing regions Asia, Latin America, Eastern Europe, Africa and the Middle East. In developing countries, market expansion will reflect increased urbanization, as virtually all structures in large third-world cities require elevators. Aftermarket services are also not well established, even in more developed countries such as South Korea and hence offer a sizable potential market which major global suppliers such as OTIS are actively working to develop. China, which has already emerged as the largest global elevator market in unit terms, will continue to log explosive gains, with the genesis of a lucrative service aftermarket bolstering the robust OEM business. Almost half of the increase in passenger and freight elevator unit sales will be attributable to China, where per capita elevator use remains less than 10% of that typical of Western Europe. TABLE III 1 WORLD ELEVATOR MARKET BY REGION (billion dollars) Item 1994 1999 2004 2009 2014 World Urban Population (mil persons) 2516 2811 3119 3443 3790 Bldg. Construct Expend (bil 2000$) 2900 3324 4254 5270 6661 $ elevator/urban capita 10 11 12 15 17 $ elevators/000$ construct 8.6 9.0 9.1 9.6 9.9 World Elevator Market 24.9 30.0 38.5 50.5 66.2 North America : 4.0 5.0 5.8 7.4 8.9 United States 3.6 4.5 5.1 6.5 7.8 Canada Mexico 0.5 0.5 0.7 0.8 1.1 Western Europe : 11.7 13.8 16.1 19.3 23.0 Asia/Pacific : 6.5 8.0 12.4 18.4 27.0 China 0.9 1.2 3.5 6.9 12.3 Japan 4.5 5.3 6.4 7.9 9.5 India 0.4 0.6 1.2 1.7 2.5 Other Asia/Pacific 0.7 0.9 1.3 1.9 2.7 Other Regions : 2.7 3.2 4.2 5.5 7.4 Latin America 1.0 1.1 1.4 1.9 2.5 Eastern Europe 1.2 1.4 1.8 2.3 3.0 Africa/Midest 0.5 0.7 1.0 1.3 1.9 Source : The Freedonia Group, Inc. CHART III 1 WORLD ELEVATOR MARKET BY REGION, 2009 ($50.5 billion) Source : The Freedonia Group, Inc. 3.1.1 Regional Profile Given the modernized economies, well-developed industrial and commercial sectors, prosperous consumer populations and highly evolved building/nonbuilding construction infrastructures in place throughout the developed world, most OECD (Organisation for Economic Co-Operation and Development) countries maintain large markets for elevator/escalator products and services relative to population and size of the economy. These include the US, Western Europe, Japan (the largest global market in value terms, reflecting the countrys aged, urban population and stringent safety standards) and Australia and New Zealand. The nations of Eastern Europe, especially Russia and certain of the other more industrialized states of the former Soviet Union, also comprise markets of some significance, but they tend to be much smaller in both absolute and relative terms than those of the major Western countries. However, the fastest growing markets for elevator products and services are typically found within the developing regions, especially Asia and to a lesser extent Latin America and Africa/Mideast as well. As numerous countries within these regions work to industrialize their economies, they are facing rising infrastructure expansion and modernization requirements, which has led to extensive building construction activity. Another key aspect of the industrialization process in most countries is increasing urbanization, as individuals and households migrate from rural areas to cities to participate in the growing economic opportunities available there. Such dynamics are positively correlated to the development of markets for construction-related products like elevator systems; moreover, as the number of systems installed increases, markets for related maintenance/repair and eventually modernization, services tend to emerge as a matter of course. 3.1.2 Multinational Parameters Trade Flows Like most industries, the elevator business has become increasingly international in scope in recent decades. The physical nature of elevator / escalator system largely, bulky, involving numerous component parts, etc., renders them not easily transportable. In addition, elevator manufacturers often prefer to have local manufacturing capacity, which allows them to better satisfy local requirements (e.g., regulations and standards) and cultivate lucrative aftermarket service relationships. As such, foreign trade per se is not as extensive in the industry as in most durable goods manufacturing businesses. Foreign trade is some what more prevalent in the replacement parts and components segments of the business. However, multinational investment on part of the leading producers (and even a few of the mid-sized and smaller ones) is extremely prevalent. This takes the form of direct ownership of overseas based subsidiaries, manufacturing facilities and other assets and after sales servicing and technical support networks. Moreover, in recent years there has been an effort on the part of major producers such as OTIS and KONE to consolidate their global operations and shift production capacity to lower cost venues in the developing world, which has increased the importance of cross-border trade. As the global elevator industry continues to restructure and consolidate, the home base of operations of the major players is becoming increasingly less relevant to the competitive dynamics of the business, with a handful of multinational companies dominating the business in most geographic areas especially with respect to product manufacturing. The service segment remains considerably most fragmented, but it too is consolidating rapidly. As global companies manufacturer and install their systems in given countries, they have a direct incentive to invest in after sales servicing networks in these countries as well, which is also prompting consolidation in the service segment of the business. Such dynamics are expected to become more rather than less pronounced going forward, as the economics of the business favor large companies with a multinational reach. 3.2 Demand by Product Service Elevators, escalators and related products are used to physically move individuals, freight and sometimes other items from one place to another within a building, facility or some other designated place. The movement occurs either vertically (in the case of elevating and lifting equipment), at an incline (escalators) or horizontally (moving walkways). Elevators and escalators are thus integral components of many types of structures, especially those with multiple floors or levels and/or involving an extensive amount of physical space. Aggregate world demand for elevator products and services is projected to increase 5.6% per year through 2009 to more than $50 billion, an improvement from the 1994-2004 pace. Fueling gains will be an upswing in new system installations, accompanying expected recovery in nonresidential building activity in Japan, Western Europe and the Americas. This will help to offset some slowing in residential building construction, which is an important indicator of elevator demand outside of North America . Preventing faster gains especially on the products die is the high degree of maturity of the elevator / escalator market in the developed world, which has prompted leading vendors to target high growth markets in the Pacific Rim and other developing areas which hold the greatest potential for incremental increases in new installations going forward. Also fueling growth will be technological innovations in letter generation system including microprocessor based controls and sensors, remote monitoring, automated performance and generate further demand, at both the new installation and modernization/upgrade ends of the business. In addition, retrofits to comply with changing building codes and federal mandates will rejuvenate the upgrade/modernization services market, especially in North America and Western Europe. TABLE III 2 WORLD ELEVATOR EQUIPMENT SERVICE MARKET (billion dollars) Item 1994 1999 2004 2009 2014 Bldg Construct Expend (bil 2000$) 2900 3324 4254 5270 6661 $ elevators/000$ construction 8.6 9.0 9.1 9.6 10.0 World Elevator Market 24.9 30.0 38.5 50.6 66.3 Equipment : 8.8 10.9 15.0 21.2 29.5 Passenger Freight 6.2 7.5 10.2 14.1 19.0 Escalators Moving Walkways 0.8 1.0 1.6 2.6 4.0 Parts Other 1.8 2.4 3.2 4.6 6.6 Services : 16.1 19.1 23.5 29.3 36.8 Installation 2.6 3.2 4.1 5.5 7.3 Modernization Repair 13.4 16.0 19.4 23.8 29.5 Source : The Freedonia Group, Inc CHART III-2 WORLD ELEVATOR EQUIPMENT SERVICE MARKET, 1994-2014 (billion dollars) Source : The Freedonia Group, Inc. 3.2.1 Equipment World demand for elevator and escalator products totaled $15 billion in 2004 billion in 2004, accounting for approximately 40% of the total elevator/escalator market. For present purposes, elevator products are defined to include passenger and freight elevators and associated products. Demand is projected to post a 7.1% per annum increase through 2009 to $21.2 billion. Growth will stem from improving cyclical dynamics, in particular a revival in nonresidential construction spending especially in the key office/commercial/lodging and industrial building sectors. Gains will be best for machine room less (MRL) elevators, which will benefit from expansion of the global retail and (especially) transportation sectors. 3.2.2 Passenger Freight Elevators Global demand for passenger and freight elevators is projected to rise 5.7% per annum through 2009 to almost 4,40,000 units, of which over 60% will be the newer machine room less (MRL) type. Along with improving cyclical dynamics and continued secular growth in the developing world, gains will be fueled by increased penetration of less traditional market segments, such as single-family residences. The latter is a key consideration in North America, where single family housing is more prevalent than in Europe and Asia. Even in the latter regions, however, again of the population will create opportunities in the residential segment, as elevators are increasingly designed into low-rise buildings which would previously have relied exclusively on staircases. As a result, the installed base will expand from 7.4 million units in 2004 to 9.2 million in 2009. In value terms, demand for passenger and freight elevators will grow 6.6% per year to $14 billion in 2009. While intense global competition and greater reliance on low footprint units will hold down cost increases, higher fuel and energy costs and the expanding technical complexity of latter generation elevator system, which can be priced at a premium relative to earlier designs, will contribute to price inflation. Passenger and freight elevators, as the name implies, are general purpose lifting systems designed to vertically transport individuals and commodities between different floors or levels within a single building or facility. From a technological standpoint, essentially all modern passenger and freight elevators are either the hydraulic (powered by pressurized liquid) or traction (electric powered) type; the latter can be either geared or gearless. Hydraulic came into prominence during the 1950sm surpassing the geared market which was prominent prior to that time and remain the dominant type in the US. Traditional traction elevators remain in broader use in Europe and Asia, although in Europe they have been widely supplanted by MRLs since the mid 1990s. The newer MRL elevator types incorporate the gears and control into the elevator shaft, rather than a separate machine room, and hence provide greater design flexibility, as well as energy and (in some cases) cost savings. MRLs have made significant inroads in Western Europe and will continue to penetrate North America, Asia and other regions. Moreover, while initially suited only for buildings upto 7 stories, MRLs have not been adapted for use upto about 25 stories, substantially broadening the potential market. TABLE III 3 WORLD PASSENGER FREIGHT ELEVATOR MARKET (million dollars) Item 1994 1999 2004 2009 2014 World Elevator Market 24893 30015 38536 50550 66300 % Passenger Freight 24.8 25.1 26.5 27.8 28.6 Passenger/Freight Elevator Market 6175 7532 10220 14050 18950 North America : 665 977 1160 1700 2100 United States 585 873 1000 1480 1800 Canada Mexico 80 104 160 220 300 Western Europe 2155 2645 3125 3940 4850 Asia/Pacific : 2575 2975 4660 6650 9525 China 425 550 1600 2800 4700 Japan 1650 1800 2000 2325 2700 India 220 305 470 745 950 Other Asia/Pacific : 280 320 590 780 1175 Other Regions : 780 935 1275 1760 2475 Latin America 305 360 450 615 840 Eastern Europe 265 275 425 595 825 Africa/Midest 210 300 400 550 810 000$/Unit 31.8 33.0 30.8 32.0 33.0 P/F Elevator Market (000 Units) 194 228 332 439 575 Machine Room 194 203 232 164 100 Machine Room Less 25 100 275 475 % New 3.8 3.8 4.5 4.8 4.9 P/F Elev. Installed Base (000 Units) 5120 6035 7355 9220 11700 Source : The Freedonia Group, Inc. Elevator related service revenues are generated when new systems are installed and then subsequently as installed systems are repaired and maintained over their useful lives. Major renovations or upgrades on existing systems are oftern undertaken as well; for present purposes this type of activity is classified under repair/modernization. Not surprisingly given their much larger installed base, elevating/lifting systems account for a substantially higher share of the total service market than escalators and moving walkways, in both the new installation and repair/modernization segments. TABLE III 4 WORLD ELEVATOR SERVICE MARKET BY TYPE (billion dollars) Item 1994 1999 2004 2009 2014 World Elevator Market 24893 30015 38536 50550 66300 % Services 64.6 63.7 61.0 58.0 55.5 Elevator Service Market 16.1 19.1 23.5 29.3 36.8 Installation 2.6 3.2 4.1 5.5 7.3 Repair Modernization 13.4 16.0 19.4 23.8 29.5 Repair Maintenance 11.6 13.5 15.8 18.3 21.0 Modernization/Upgrade 1.8 2.5 3.6 5.5 8.5 Source : The Freedonia Group, Inc. 3.2.3 Installation World revenues generated from the installation of new elevator/escalators systems are projected to increase 6.1% per year through 2009 to $5.5 billion. Installation revenues will grow somewhat more slowly than will new elevator and escalator equipment demand. This reflects the fact that elevator/escalator vendors have been working aggressively in recent years to lower the installation costs of their system, in orde3r to increase new business volume. TABLE III 5 WORLD ELEVATOR INSTALLATION REVENUES BY REGION (million dollars) Item 1994 1999 2004 2009 2014 World Elevator Service Market 16079 19118 23491 29300 36800 % Installations 16.5 16.5 17.4 18.8 19.7 Installation Revenues 2650 3153 4087 5500 7245 North America : 372 484 530 735 880 United States 338 440 464 650 765 Canada Mexico 34 44 66 85 115 Western Europe 963 1162 1350 1670 2020 Asia/Pacific : 1093 1236 1831 2570 3600 China 144 188 563 1025 1725 Japan 752 804 872 990 1120 India 87 126 168 255 345 Other Asia/Pacific : 110 128 228 300 410 Other Regions : 222 271 376 525 745 Latin America 81 97 123 170 235 Eastern Europe 80 86 134 190 265 Africa/Midest 61 88 119 165 245 Source : The Freedonia Group, Inc. 3.2.4 Repair Modernization Revenues derived from the provision of repair, maintenance and upgrade/modernization services on existing elevator/escalator system are projected to increase 4.2% per annum through 2009 to $23.8 billion, which compares favorably to longer term historical norms. Repair and maintenance revenues will expand just 3.0% per annum to $18.3 billion in 2009, trailing all other product and service segments. In much of the developing world, maintenance spending is perceived as an unaffordable luxury; building owners and managers tend to wait for an elevator to fail before they will invest in maintenance/repair. However, there is evidence that this is beginning to change as major Western and Japanese elevator companies work to educate their equipment customers about the importance of routine servicing. Service requirements tend to be highest in Japan, where for cultural reasons elevator failures are considered to be unacceptable. As in case of elevator and escalator systems themselves, the provision of related repair/maintenance services has benefited significantly in recent years from the application of a advanced technology. What has become especially prominent of late are computer based monitoring tools that can detect system faults (or even potential faults) and alert service technicians immediately. Repair/maintenance services can be performed on a contract basis, or on an as needed service call basis for building owners and other operators that do not maintain contracts. In addition, there is considerable potential for business activity on the modernization upgrade side of this market, in terms of retrofitting existing systems to be compatible with new building codes, the Americans with Disability Act (in the US), the safety Norm for Existing Lifts 9SNEL-in Western Europe) and other mandates. A number of the leading elevator vendors have in recent years launched modernization packages designed specifically to comply with the requirements of these mandates. Examples include Schindlers SCHINDLER 6200 and KONEs MAXISPACE. The latter allows users to replace a 4 passenger car with a 6 or even 8 passenger lift. More generally, numerous building owners will want to upgrade existing elevator/escalator systems to incorporate the latest technological advances along such parameters as improved safety and enhanced performance and energy efficiency characteristics, and this will provide further momentum to the repair/modernization service market overall. Modernization revenues are forecast to rise 8.8% annually through 2009 to $5.5 billion, making this the fastest growing segment of the elevator business. Modernization projects can range from replacing controls and interior fittings, to installing new doors or other structural components, to incorporating advanced electronics based sensors and monitoring tools, to complete renovations of entire elevator cabs or replacement of escalator stairs. TABLE III 6 WORLD ELEVATOR REPAIR MODERNIZATION REVENUES BY REGION (million dollars) Item 1994 1999 2004 2009 2014 World Elevator Service Market 16079 19118 23491 29300 36800 % Repair Modernization 83.5 83.5 82.6 81.2 80.0 Repair Modernization 13429 15965 19404 23800 29450 North America : 2518 2981 3529 4190 5025 United States 2217 2646 3145 3735 4485 Canada Mexico 301 335 384 455 540 Western Europe 7731 8918 10355 12115 14240 Asia/Pacific : 1848 2492 3609 5110 7165 China 55 110 270 645 1350 Japan 1516 1957 2664 3430 4275 India 42 95 210 410 745 Other Asia/Pacific : 235 330 465 625 795 Other Regions : 1332 1574 1911 2385 3020 Latin America 472 554 688 865 1095 Eastern Europe 742 852 983 1180 1445 Africa/Midest 118 168 240 340 480 Source : The Freedonia Group, Inc. 3.3 Demand by Market Elevator related products and services are utilized in a broad array of buildings and facilities featuring multiple floors or levels, as well as in certain single-floor and even non-building type settings. Large, well-trafficked facilities with multiple levels office buildings, institutions such as hospitals and schools, department stores and other retail establishments, hotels and motels, factories and warehouses, etc., tend to be the most intensive users of elevator products and services.

Prose Coursework Great Expectations Essay

The opening three chapters of Charles Dickens’ novel Great Expectations are effective as they grab the reader’s attention and keep them interested wanting to read more. This is what every author strives to do at the beginning of a novel. Charles Dickens’ does this by creating effects by using a variety of methods. The methods include vivid descriptions of characters, settings and the weather. Other methods include selected use of language to create atmosphere and mood. Alliteration and repetition are used as well as cliff hangers to create suspense at the end of chapters. Pip, an orphan being raised by his sister and her husband, encounters a frightening man in the village graveyard. The man, a convict who escaped from a prison ship, scares Pip into stealing him some food and a file to grind away his leg shackle. Mrs. Joe, Pip’s sister beats him around but her husband is a kind man and Pip is expected to follow into his line of work as a blacksmith. Pip gets invited to the house of a rich woman, Miss Havisham is an old woman who was abandoned on her wedding day making her give up on life. She has an adopted daughter named Estella, Pip’s childhood crush which later becomes love. Pip visits Miss Havisham regularly until she tells him his apprenticeship with Joe must begin and never to return. Pip is miserable with his becoming a blacksmith and worries Estella would find him â€Å"common†. Biddy, a young girl comes to care for Mrs Joe who was attacked and became severely disabled. Pip settles into normal life until he is approached by a lawyer who reveals strange news: Pip has inherited a lot of money from an anonymous benefactor, who Pip thinks is Miss Havisham who desires him to marry Estella, and must leave for London immediately, to become a gentleman. In London Pip becomes friends with a boy named Herbert Pocket. Pip spends many years in London and remains ashamed of Joe as they grow apart. One stormy night learns the true identity of is benefactor, but a criminal, Magwitch; who Pip fed in the churchyard many years ago. Magwitch gave pip the money as a show of gratitude and also as he believes Pip reminds of his own child presumed dead. Magwitch wants to spend more time with Pip, but as he is still a wanted criminal who faces being hung when caught. Herbert and Pip make a plan for them (Pip and Magwitch) to leave the country by rowing down the river and catching a streamer bound for Europe Magwitch’s old criminal enemy Compeyson follows them. Compeyson is the man who abandoned Miss Havisham at the altar. Just before Pip flees the country with Magwitch he pays one last visit to Miss Havisham and finds her filled with regret wanting his forgiveness. She gets a little too close to the fire and ends up in flames, Pip rescues her but she ends up dying from her severe burns. Magwitch gets caught after trying to escape with Pip as he is told on by Compeyson. Compeyson and Magwitch fight and Compeyson dies, and Magwitch, badly injured is taken to jail. Pip discovers Magwitch is Estella’s father and tells him so before he dies. With no money Pip goes into business with Herbert. Joe and Biddy are happily married and have a child named after Pip. Pip visits Miss Havisham’s house one more time and finds Estella who wants Pip to accept her as a fried. When the novel ends it appears that Pip and Estella will finally end up together. Chapter one is an effective opening chapter as the readers are made to feel sympathy for the main character Pip. As Pip is the narrator he introduces himself by telling us his name â€Å"†¦my infant tongue could make of both names nothing longer or more explicit than Pip.† Through this the reader senses Pip’s vulnerability through his inability to pronounce his own name Philip Pirrip. The narrator is also made to feel sympathetic towards Pip as he is an orphan â€Å"†¦Philip Pirrip late of this parish, and also Georgiana wife of the above were dead and buried†¦Ã¢â‚¬  His loneliness and pity is further emphasised when the names of his dead brothers and sisters are list , in giving them names Charles Dickens’ makes them feel more realistic and in a way more alive. As this novel is set in the 1800’s it reinforces the high rate of infant mortality. Pip’s plight is also emphasised by the descriptions of his parents, â€Å"†¦The shape of the letters on my father’s gave me the odd idea that he was a square, stout, dark man†¦Ã¢â‚¬  This may create sympathy as the Pip has to draw conclusions about his parents from their graves. All this sympathy and methods used to create sympathy for Pip are effective as the reader may want to read on to find out if Pip’s life improves later in the novel. Dickens’ also keeps the readers interest by effectively describing the setting. Great Expectations was written at a time when the gothic genre was very popular. This was probably the reason why the setting is described with gothic features e.g.: dark. The example of gothic genre in chapter one is the graveyard. â€Å"Bleak place overgrown with nettles†¦Ã¢â‚¬  The setting is described in long complex sentences to give more detailed imagery. The imagery is used to describe the setting as quite an eerie place â€Å"†¦savage lair†¦dark, flat wilderness†¦Ã¢â‚¬  This conveys how scared Pip must feel and sets the mood and atmosphere as something fearful to be awaited. This puts the audience on edge and makes them want to carry on reading to find out exactly what will happen. Dickens’ also uses pathetic fallacy to emphasise Pips emotional states. It also prepares the reader for the dangers ahead. The introduction of the convict (later known as Magwitch) is also effective as the reader wants to know more about this violent character. The way the character is introduced is in a very dramatical way â€Å"†¦started up from among the graves†¦Ã¢â‚¬  He is introduced by him shouting orders at Pip â€Å"Hold your noise† this makes him sound violent from the outset. The way his speech is written makes him sound uneducated and from a working class background â€Å"†¦pint out the place†¦Ã¢â‚¬  All of the convict’s speech is written in short sharp sentences and nearly always in the form of orders. Dickens’ may have done this to portray the character as someone to be feared which in turn may cause the reader to feel more sympathy for Pip as he has to take orders from the convict. The description given on the convict includes verbs such as â€Å"†¦soaked †¦ smothered†¦ lamed†¦ cut†¦ stung†¦ limped†¦ shivered†¦ glared†¦ growled†¦seized† are used. The verbs are all negative verbs may have been used to show that the convict has escaped from somewhere and is acting in sheer desperation. In a way the verbs and description may also lead to the reader feeling sympathy for the convict after all his been through.

Company G 3 Year Marketing Plan Essay

Company G develops products that improve the lives of consumers with innovative electronic technology and reliable build quality. We believe that our new Radio CD recorder does just that, it improves the lives of our consumers and gives them a product they can rely on because of our product build quality. Our product is a solution for consumers who would enjoy the convenience of having their favorite radio programming at their disposal. This sample-marketing plan demonstrates the strategies employed to place our new product in position to reach our profit potential. Company G provides consumers with not only reliable appliances but appliances that are cutting edge in design. Our company keeps an eco-friendly attitude in mind during the process of producing our products so that waste is eliminated. Solutions have been utilized to reduce maintenance costs, equipment costs and other costs associated with producing our products. Mission Statement â€Å"We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solution.† The Product The features of the Radio CD recorder include a CD player, radio, CD quality radio recording, small to medium build design for portability, strong light weight construction for portability, timer radio recording for use while away from home, a quality antenna for radio signal strength, five hour rechargeable lithium ion batteries for ease of portability, power cord for home use, a USB outlet for all mp3 device compatibility, and easy to operate controls that can all be done from a wireless remote control. These features give consumers the freedom and convenience to use our product in a variety of ways. Build quality of our product surpasses all that is currently in the market and improves the overall radio experience for consumers. Consumer Product Classification Our consumer product classification falls under a shopping product. Consumers will buy our product only after comparing other radio products price, quality, color, and style. Consumers have limited information as it relates to our product and will gather information during the buying process. Our product can also be seen as homogenous, as there is an array of other radios on the market. Target Market Our focus is on Caucasian female college students between the ages of 18 to 25. Majority of our consumers will be working part time jobs and have incomes ranging of $15 to $25K annually. Most of our consumers will be living on a college campus or apartment, and room mating with friends and or living at home with parents. We will market to tech savvy female college students that look for value in their limited amount of spending on electronic products. Also, our consumers will be music lovers that enjoy listening to the radio during studying and leisure time. The consumers purchasing our product will have a limited amount of space for many different products and will be looking for a product that can combine many of their other products all in one. Competitive Situation Analysis Analysis of Competition using Porter’s 5 Forces Model Competitive Rivalry: According to the amount of products available, rivalry intensity is high. What makes for a high intensity of rivalry includes competitors aggressively targeting each other’s markets and aggressively pricing products. Also, competitors are of equal size and market share and industry growth is slow. Lastly, industries fixed costs are high which creates intense competitive rivalry. Threat from New Entrants: Threats from new entrants are low. Reason being is because of significant upfront capital investments required to start this kind of business. Low barriers of entry are also evident by limited access to proprietary technology and proprietary production material inputs. Furthermore, distribution channels are difficult to access, which also causes low barriers to entry. The Internet has very little impact because of high technology development cost and high manufacturing costs. Threat from Buyers: In researching, buyer power has shown to be low with our product because buyer bargaining power is low. Sellers are concentrated compared to buyers and there are few sellers with many buyers, which makes buyer power low. Furthermore, consumer switching costs are relatively high and buyers would not easily be able to produce our products themselves, further supporting that the threat from buyers is low. The Internet can have an impact should buyers ban together on social networking sites to demand discounts. Threat from Suppliers: Threats from suppliers are high. The new technology that has gone in to producing our new product has been developed and is not mass-produced. Suppliers are few and buyers are many. Suppliers can also forward integrate and begin to produce our product themselves. This will impact how our company will be able to continue delivering our product at a reasonable price because suppliers can use the Internet to sell directly to online shoppers. This will have an impact not only on product price but also our distribution and marketing process. Threat from Substitutes: The threat of substitute products in the market is high. Consumers have the option of purchasing similar radios that record on cassette tapes with low switching costs. Also, the cassette radio recorders are cheaper than our product, which also makes a high threat substitute. But, when it comes to quality of both our product and the substitute product the threat of the substitute is low because our product is of higher quality. Before our product, consumers’ only option to record their radio shows or songs would have been to manually record on cassette radios. The Internet allows fewer barriers for substitute cassette radios to be sold online for less money than our product. SWOT Analysis SWOT is useful technique for understanding Company G’s strengths and weaknesses, and for identifying both opportunities open to the company and threats the company faces. What makes SWOT so important is that it can help bring to light opportunities that can be utilized as an advantage. Also, by understanding the weaknesses of our company, we can be ready to take care of and fix potential problems before they happen. Strengths – Our engineers and designers who develop our innovative products is our first strength. This is one of our core competency’s that gives our company a unique advantage over other companies. We can market how we employ the best and most qualified workers, which brings value and quality to the consumer. – An excellent relationship with current suppliers is our second core competency strength. These relationships have been built over time and are difficult to replicate. This gives us an advantage in that we can make our products available with few delays. – Efficient production process is our last strength that allows us to minimize waste in producing our products. We can market our product as being eco-friendly by minimizing waste in the environment. Furthermore, our products are readily available for restock as needed at any time should demand increase. With our products having an efficient production process they can be made with high quality, fr ee of defects. Weaknesses – Target market consists of college students that don’t typically have much money. Our typical target market will be part time working college students. This target market has yet to start their professional career and have a myriad of costs as they try to earn their degrees. Their costs may just be too high to warrant another electronic purchase. – Consumers may be reluctant to change from their lower priced radio cassette recorders to our new higher priced radio CD recorders. Consumers don’t like change, and if they have a radio that have some of the features our product has, they may elect to save money and stay with their old product. – There are a multitude of substitutes in the market that do very similar things to our product. Having consumers understand and feel a need to have an all in one product that has a combination of features that other substitute products have will prove to be difficult. Opportunities – Our product will be the first on the market that offers a CD recorder and recorder timer in an all in one system. There is no other small appliance exactly like our product and we may have an opportunity to change the way we all use radios. – The music related electronic device market is currently a hot trend. Many other electronics that combine phones with music players are dominating the market. Our product has an opportunity to capture a big piece of the market share by combining radios with new CD recording technology. – We can make radios relevant again in the twenty first century. Radios have been around for decades and have become somewhat obsolete to newer alternatives like mp3 devices. Their is an opportunity to offer a product that we all have utilized and make it a viable option for today’s tech savvy consumer and change the way they live. Threats – A potential lawsuit from music companies and artists for copyright infringement is a major threat. Our product will allow consumers to easily record copyrighted music to CD where they can than distribute the music online. This could potentially bring legal trouble to Company G. – Other established companies could not only develop similar products but also even better technology in the future. Competing companies can allow us to take all the risk in bringing our new product to market and if it does well, they can than reproduce something very similar and threaten our market share. – Copyright laws in the future may change, no longer allowing radio recording. The laws are constantly evolving, especially when it comes to the area of music recording. There is a lot of grey area when it comes to recording from the radio and our product could be the catalyst used to bring tougher restrictions on radio recording, making our product illegal to produce or own. Market Objectives Product Objective – Inform target audience about the value our product brings with the list of features and benefits that lead to a 10 percent gain in the small appliance radio market in one year. Price objective – Pricing range will be $79.99 to start for the first six months in order to attract consumers and gain market share. After six months price will move to $99.99. Place objective – Distribution channel length will be short. Distribution will move from producer to wholesaler to retailer to consumer. Wholesaler will warehouse products in various locations, to keep up with supply and demand as needed. Orders will be palletized and ready for shipment with in 30 minutes of each order placed. All products will be out fitted with radio-frequency identification for tracking and monitoring of our products every six months. Promotion objective – Increase product sales and new product awareness among target audience by 25 percent in the first year of product release. Bringing together this marketing mix gives our product the best possible chance to be successful. Showing our target audience the value in our products through price and features will be key in our consumers purchasing our product. Furthermore, by utilizing our introductory low price and taking advantage of short channel length will insure that our product not only attracts the attention of our target market but also allows our consumer to have easy access to our products. Lastly, the objectives we have set to increase sales and product awareness will insure that our product is known among the market and is a success. Marketing Strategies Company G’s market strategy will include the four elements of the marketing mix which includes product, price, place and promotion strategies. Each element will include three strategies each with a brief description. Product Strategies – Quality as a product strategy will be used in order to win repeat customers in the future. Consumers are frustrated with products that simply do not work or last. By giving our target market an item that is made with quality, our consumers will be more willing to purchase another item in the future and it will overall improve their life. – Development of product lines is our second strategy. The purpose of including a product line strategy is to grow the company’s position in the market place. Also, it allows for even more opportunities for more consumers to purchase our products by having specific needs met for different consumers. – Product design is our third and final strategy. Shopping products are an important factor in that they need to appeal to a consumer’s image. This will allow the product to be more attractive to the consumer and easier to purchase. Having an item aesthetically pleasing will likely be used more and noticed more amongst other products in the department store and at home. Price Strategies – Cost plus pricing strategy will be used to insure that products are sold with a profit. That way no matter whether we mark up or mark down our prices we will make sure to prevent financial losses on our products. – Penetration pricing strategy will be utilized in order to attract customers and gain market share. Penetration pricing will be in affect for the first six months of our initial product offering. – Psychological pricing will be used to have a positive psychological impact on consumers when purchasing. Consumers are more willing to purchase when they feel they are getting a good deal or value for their purchase. Place Strategies – Producer to wholesaler to retailer to consumer will be how we bring our product to consumers. This traditional channel is a simple but cost effective way of providing goods to our consumer in a quick and efficient manner. – Using a wholesaler is the second strategy. This would allow wholesalers to take responsibility of distributing goods to retailers and distributors. By placing multiple wholesalers in strategic areas we will be able to have our product available should demand rise at any time. – Intensive distribution is our third and final place strategy. Using an intensive distribution strategy will allow us to distribute our products through all available channels in order for consumers to purchase our products anywhere. This makes it convenient for consumers to purchase our products.

Presentation Of The Group As A Whole And Purposes Essay

Brief description of the group-as-a-whole and purposes. I facilitated in the middle face in the 3rd-week of the group sessions the group members are from different cultures and ethnic, the number member in my group are 8 people including me, there are 6 women and two men, the name of the group are Ivonne Carrillo, Javier Gomez, (was missing the day) Yadira Lara, Sandra Sanchez, Janneth Quevedo, Vanessa Rios, Terence Sinabajije, and me, Rocio Mendoza. The date when I lead the group was November 7, 2016, and I made a facilitator plan for 40 minutes. The plan for the day that I facilitated was focused on the topic that we choose in the preliminary phase which was culture gender and values. The theme that I choose to talk about in my session was about Gender Stereotype discussion. At the beginning part of the group for the first 10 minutes, I started by introducing myself and explaining confidentiality, then I use the Sessional Turning In skill. According to Shulman (2015) explain that â€Å"The leader attempts to develop anticipatory sensitivity before each meeting, to themes that could emerge during the session.† (p. 487). First of all I talk about confidentiality than I started doing a review of the previous session, in which Yadira was the facilitator and she talked about gender role and traditions. Therefore we did a brief recap of what happening in the last meeting to make sure we are on the same page. After the review, I practiced the sessional contracting skill toShow MoreRelatedOur Posthuman Future : Consequences Of The Biotechnology Revolution1163 Words   |  5 PagesFor group presentations my group presented the fifth chapter of Francis Fukuyama s book, Our Posthuman Future: Consequences of The Biotechnology Revolution. Our job, as a group, was to present his chapter on â€Å"Genetic Engineering† (72-83). 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