Market Analysis and Manufacturing Plan Essay Example | Topics and Well Written Essays - 1000 words

Market Analysis and Manufacturing Plan - Essay Example 50% of the respondents were of the view that they consider it most important if they have the ability to track their cargos around the world. Similarly, 50% of the respondents also believe that they must also have the ability to know if their cargo has been taken off course during transit. Further, 15 respondents also showed their willingness to pay as much as $600 if a hardware unit is provided to them which can interface with their cargos to provide them real time location and other information (which has been sought in questionnaire). Further questions were asked as to what other services are required if hardware is provided and what cost. Most of the respondents agreed to avail a bundled package which offers hardware as well as other allied services to avail such facilities. Our analysis, based on the survey responses, suggest that at least 50% of the market is willing to have such a technological backing to help them to track their cargos during the different phases of its transit. Thus there is a great market need for at least the basic facility of providing hardware support to different potential buyers in the market who are willing to use better control over their cargo during its transit in order to minimize the losses. It has also been observed that a base price of $600 will be an acceptable proposition for our product for sale in the market. The price figure has been decided after respondents our survey showed their willingness to pay that much amount for basic services. The base price of $600 is also fair in nature because of the fact that it is just below the average price which industry buyers are willing to pay. Since our firm will be potentially engaged into B2B marketing therefore considering the higher bargaining power of customers, our market analysis suggest that a base price of $50 per month would be a fair quote for monthly subscription. This price is also below the mean therefore we consider it a fair price to charge. It is also important to note that we have accounted for the inherent risk in the survey method of conducting primary research therefore a +/- 5% or 95% confidence level is assumed while analyzing the data from questionnaire. Overall, we believe that there is enough demand for this type of product and considering the various uses of ATM, this market can offer better diversification opportunities also in order to control and minimize the overall external risk. Manufacturing Plan Our market need analysis suggest that there is an strong demand for ATM systems and market is willing to bet $ 600 for each unit to be sold to them therefore based on this healthy and positive assessment, following section will present the manufacturing plan for the product. It is however important to note