Digital Camera :: Business Management Studies Assignment

Digital CameraProduct The product which I am planning to do is a digital camerathat contains new(prenominal) useful features which would be ideal for theconsumers. These features can range from games, music downloads,radio, Bluetooth and netmail access (depending on what consumers preferbetter).Promotion When promoting my product I allow for advertise on thetelevision which may expand to international take depending on howwell my product will do in the market. besides have a demo of my productat exhibitions that take distinguish for consumers to see, feel and touchthe product rather than just a control on the magazines. To aalsoattract more consumers to my product they will receive an proneprinter for half price.Price Digital cameras be ranged from 700 to 90 relying on thequality of it. I will have 2 take break through my market research to see whatprice would be a valid price for the camera.All industries atomic number 18 influenced by SLEPT factors. For example, some of the SLEPT factors affecting the airway industry in recent yearsincludeSocial change magnitude popularity of foreign travel leading to a boom in study for air travel. However, this has been adversely affected byinternational terrorism.Legal in that location are increasingly tight rules about the materials thatneed to go into aircraft whirl in order to make them safer andmore resistant to fire hazards. This has had the clash of raisingcosts.Economic lower interest rates have meant that pile have moredisposable income to spend on luxuries like great distance air travel.Political the development of freedom of movement and mountain in theEuropean Union has led to greater levels of competition on Europeanroutes coupled with increased movement of people.Technological modern aircraft are safer and more economic to run thanin the past making mathematical cheap air travel.Before creating business plans or when evaluating existing ones it is crucial to scan the external environment. T his takes the form of aSLEPT analysis, i.e. an investigation of the Social, Legal, Economic,Political, and Technological influences on a business. In addition itis also important to be aware of the actions of your competitors.These forces are continually in a state of change. Social factorsrelate to mock up of behavior, tastes, and lifestyles. A majorcomponent of this is a change in consumer behaviour resulting fromchanges in fashions and styles. The age structure of the populationalso alters over magazine (currently we have an ageing population). Anunderstanding of social change gives business a better feel for thefuture market situation.Laws are continually organism updated in a wide range of areas, e.g.consumer protection legislation, environmental legislation, wellness &