This way, i advises other essential department in the company such as the production department on the quantity of products and the features to incorporate in such products in order for the products to gain profitability desired. Uited Kingdom is a developed economy; tis implies that the people have a higher purchasing power. Te smart TV market can therefore sustain yet a new product, wich will compete effectively against the many other products currently in the market. Hwever, sch a market makes informed purchasing decisions. Te consumers will several features of the new product in order to ascertain the product’s appropriateness in the market.
Aditionally, te cost of labor is equally high in such a market (Homburg, Sbine & Harley, 2009). Cupled with detailed legislations requirement in the country, te cost of doing business may therefore become higher especially for a new company that seeks introduction in a market that existed for more than a century with active participants. Alas TV is a new smart TV entering the market for the first time. I order to develop report, te introduction of the new product and its sustenance in the new market requires the consideration of several assumptions in order to position the new product strategically in the market in order to achieve the desired profitability.
Aong the key assumptions is the size of the competition. Crrently, te smart television brands in the United Kingdom include sonny, Smsung, Tshiba, Pilips among many others. Tis implies that the market has an active market with numerous established products that will therefore offer sizeable competition for the new smart Hwever, the sake of the introduction of the new product, te competition should remain constant for the transition period at least until the new product establishes its market share.
Sch is an assumption, wich may not materialize, bt the marketing department will assume that no new product will enter the market any time soon in a bid to help make informed marketing and production decisions. Oher essential assumptions will include low-cost of doing business. Te government of the United Kingdom has various laws governing the operations of new including specific regimes that will definitely affect the profitability of the new product.
I developing the report, te cost of doing business must remain substantially low. ..
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