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Business Plan Essay Example

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Business Plan

There are other major players that offer a different array of products and services such as hardware and app developers among others.The idea behind industry analysis is that the profits that a company is bound to make largely relies on the structure of the industry in which it operates. If there are many competitors that are selling the same product essentially, then the competition in the industry will be intense, and the profits are bound to be low. Profits, however, depend on more than the level of competition in the industry. Other factors such as the bargaining power of suppliers, the threat of new entrants, the bargaining power of customers, degree of competitive rivalry and the threat of substitutes also have a huge effect on profitability (Bowman, 2006). Porter identified these as the Five Forces models that determine the nature and profitability of any industry.Industry competitors: At the present, there are no other products that enable the user to give touch screen instructions to the computer screen that is a far off. As such the product is quite viable and will be helping meet a need in the market.Customers: The customers for the product include university professors and lecturers from different institutions. With the help of this device, it will be easier to control a computer remotely by use of hand gestures, and this will greatly enhance their teaching experience. With a survey that will seek to address any concerns that may come about, the device is timely and will help meet a current need that exists in this market.New entrants: No fear of new entrants since the only other such devices that exists in the market a clicker or a blue-tooth mouse both of which are inferior to the new device. A lack of access to suppliers, distribution channels, and the end consumer would also make it difficult for newcomers to enter the market.Some businesses particularly in the IT and computer systems design have been consistent performers over the last couple of years. It is true to say that enterprises connected to computer systems design such as systems integration, programming, and many others have grown at mid- to high-teens percentages since 2010. In line with this, it has been shown by economists that as from 2009, a strong investment in software has been demonstrated by many companies as they try to enhance the benefits that come with this as opposed to additional

References

Bowman, P. (2006). IT made E-Z. Humble, Tex.: IT Made E-Z, Inc.

Buxmann, P., Diefenbach, H., & Hess, T. (2013). The software industry. Heidelberg: Springer.

Cooke, P., Searle, G., & OConnor, K. (2013). The economic geography of the IT industry in the Asia Pacific region. New York: Routledge.

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preview essay on Business Plan
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Masters
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