CompanyINTRODUCTION
In order to establish any market, it is required to have a proper analysis made so that the scope can be analysed. As per the criminal aspect is concerned, the rate of theft that takes place in Muscat is rising tremendously (Oman, Tumer and Seepersad, 2013). In order to overcome this issue, a new firm is introduced that provides security to luggage that a person carries. The name of the company will be Smartbags which provides all types of bags of all sizes. These bags have charging facilities and users can track them even if they forget to take them.
IMPORTANCE OF ENVIRONMENTAL SCANNING
In order to conduct the environmental scanning, there are different types of tools that can be used. It covers six elements that provide where the country stands. This is a type of industry that will enable us to provide security and support to people. Further, the rate of theft that takes place in Muscat will be reduced. The firm will be established near Mina al Fahal as this is one of the most popular places in Muscat where travellers visit. This will enable us to convey information regarding the bag and this it can help to raise sales. Even the local people prefer to visit this place and it will enable them to make sure that their stuff is safe. Tourists who visit this particular place are high and this can help in making the business attain their set of goals and objectives. However, people face issues in relation to theft and so people are scared. This is a type of issue that is being faced due to which people are scared.
INDUSTRY ANALYSIS
With time, there is various types of changes have taken place in relation to technology. Digital bags will help to make a better place where the rate of crime can be reduced. For example, the use of the internet was very low at the initial stage but with time people have made it one of the most effective sources for purchasing goods. Similarly, these digital bags will be helpful enough for individuals to be secure regarding their luggage that generally gets lost when proper care is not taken (Al-Belushi, Stead and Burgess, 2015). In order to overcome the issues faced at Muscat, the use of Smart bags will enable to reduction in the rate of crime. Thus the fear that people have in their mind will also get reduced.
HISTORICAL ENVIRONMENT ANALYSIS
Once the product is established at the local level, then other states within the country will be targeted. In order to make it reach to international level online platform will be used so that all are able to make use of the goods provided by Smartbags. The criminal records are increasing and this will help to reduce this rate to a high extent. The rate of employment is also low and this is considered to be one of the reasons why people are getting into criminal activities. However, these bags will support the government in catching criminals and can also be effective in reducing the rate of crime. When individuals develop a fear of getting caught, then becomes helpful enough to reduce the crime rate. With the help of this product, the business will be able to develop that fear and thus government will benefit.
OPPORTUNITY FOR BUSINESS
The main opportunity that will be attained from this business is support to the government in reducing the rate of criminal activities. In accordance with the current situation faced, the rate of crime in this place is high. With the help of this product, the government will be able to control crime in an effective manner. Further, the location in which it will be established is close to the most tourist place and so it will have a positive impact providing information to people. In addition to this, people generally do not have a proper understanding of such types of bags so developing this market will boost the morale and in covering the marketing. Further, it also helps to allow individuals to charge up their mobile whenever they want. When people get to know about the products, then the help of experiences that individuals had will help in making others make purchase decisions.
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PATCH 2
Introduction
The main focus of this pitch is to make sure that the marketing mix is covered for the new product introduced. These are helpful enough to provide a detailed understanding of the product. With this respect, it includes product, price, place and promotion.
MARKETING MIX
In path 2 the marketing mix of new innovative business is being discussed. By having an effective consideration of such measures the issues in terms of sustainability can be resolved. It allows to have proper understanding in regard to product, price, place and promotion. It indicates that features of the product can be highlighted in the practice. Along with this, pricing measures can also be taken into account more accurately so that goals and objectives can be accomplished. Moreover, different methods of promotion also need to be referred to in the practice to create awareness about the product.
PRODUCT
Being a luggage firm, management can focus on introducing new products at Smartbags. In this, a number of Smartbags products can be sold according to customer needs so that goals and objectives can be accomplished. Results obviously are digital bags which will have diverse features in regard to the digital security of bags. (Beller, Weiss and Patler, 2017). In this, GPS tracking, auto-lock and other features are also key attractions. When building up an item management has to think about quality, outline, highlights, bundling, client benefit and any ensuing after-deals benefit. The company can focus on introducing specialists in Digital bags that will help to make a better place where the rate of crime can be reduced. Unique features in the Digital bags will assist travellers by offering security measures. Such kind of product line can also boost the business of a firm and lead to an impressive level of success. The product is helpful enough to track down the bag if it is missed. Further, it can enable to reduce the rate of crime and help in raising tourism. Apart from this, it also has the facility to charge mobile phones and the bag itself has about more than 1 week of battery backup. Apart from this, the size of the bag is 22 x 14 x 9(inches)/560 x 355 x 229 (mm). These are available in different colours like black, white, purple, grey and pink.
PRICE
Pricing of products is one of the major concerns for every organisation in order to attain sustainable values. By having an effective consideration of pricing factors the issues can be overcome. Value concerns the measure of cash that clients must pay with a specific end goal to buy Digital bags and Smartbags. In order to have effective customer attraction the management can focus on cost leadership techniques (Betz, 2011). In this, low-priced products will be sold to customers. The company will sell its products at the price of 300 pounds. Low pricing of products will attract more and more customers and allow businesses to accomplish key goals and objectives. It has been witnessed that customers are always attracted towards products at low prices. However, it is necessary for management to ensure the customer needs and the quality of the product.
PROMOTION
Advancement alludes to the demonstration of conveying the advantages and estimation of items to the clients in the showcase. It at that point includes inducing general buyers to wind up clients of Digital bags and smart bags through business utilizing techniques. For example, promoting products at different stages with the use of diverse measures. In addition to this, it can be said that by using diverse advertising methods the issues can be resolved. By having an accurate promotion of key values the business can be boosted in the desired manner (Bowhill, 2008). For advancing the offerings of the organization in the objective market, it can be proposed to experts that they should advance it through an assortment of strategies. On the web and online networking advertising alongside deals advancements and markdown plans can be utilized as a part of this respect (Hooley, Saunders and Piercy, 2009). Advancements through web-based social networking and web-based showcasing will help in extending opportunities for the organization to attain a substantial group in the market. Along with this, TV advertisement will also be considered as a promotion tool which will assist in meeting standards of promotion.
PLACE
For advancing the offerings of an organization in the objective market, it can be recommended to experts that they should advance it through an assortment of techniques. On the web and online networking advertising alongside deals advancements and markdown plans can be utilized as a part of this respect (Dibb and Simkin, 2008). With respect to a web page, the company will start its own online shopping store for better customer convenience. Advancements through web-based social networking and web-based showcasing will help in growing the scope of the organization to a vast gathering of people. Further, the City centre is considered to be the most suitable place where the product can be introduced to customers (City Centre Muscat, 2017). In addition to this, the company will set up its Smatbags store in the middle of the city in Muscat where more and more customers can reach out. It will also help in business operations and lead businesses to an impressive level of success (Evans, Jamal and Foxall, 2009).
REFERENCES
- Betz, F., 2011. Managing Technological Innovation: Competitive Advantage from Change. 3rd ed. John Wiley & Sons.
- Bowhill, B., 2008. Business Planning and Control: Integrating Accounting, Strategy, and People. John Wiley and Sons.
- Dibb, S. and Simkin, L., 2008. Marketing Planning: A Workbook for Marketing Managers. Cengage Learning EMEA.
- Evans, M, Jamal, A, and Foxall, G., 2009. Consumer Behavior. 2nd ed. Wiley.
- Hooley, G, Saunders, J and Piercy, N., 2009. Marketing Strategy and Competitive Positioning. Prentice Hall International.
- Al-Belushi, K. I., Stead, S. M. and Burgess, J. G., 2015. The development of marine biotechnology in Oman: Potential for capacity building through open innovation. Marine Policy, 57, pp.147-157.
- Oman, S. K., Tumer, I. Y. and Seepersad, C., 2013. A comparison of creativity and innovation metrics and sample validation through in-class design projects. Research in Engineering Design, 24(1), pp.65-92.
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