- Published: June 11, 2022
- Updated: June 11, 2022
- Level: Undergraduate
- Language: English
- Downloads: 24
Market Analysis and Launch of Sonic 1000 Today the technological advancements have seen some amazing innovations in the field of communication and data handling. These latest devices have been welcomed by the busy executives who need to be in constant touch with their office and business partners. It is therefore, the right time to introduce latest technical gadgets which combines the features of various other gadgets in a small unit. Sonic is 18 months old company which is manufacturing state of the art electronic goods. The company is now introducing Top class PDA (personal digital assistant) known as Sonic 1000, with features that are guaranteed to overwhelm gizmo lovers. In the cut throat business of electronic goods, Sonic mission would be to capture the market segment that caters to the upcoming young executives who are looking for gizmos which are small enough to hold in their pockets but powerful enough to be used as computer, or phone or even as an entertainment device, as and when the need arises. Globalization has changed the dynamic of the business and today the professionals need to have all the information at their tip while following a hectic schedule. So the smaller the device which can pack such features, better are its chances of capturing this target group.
PDAs from big companies like Hewlett Packard, Sony etc. have been in the market for the few years. Palm One, Blackberry etc. are PDAs that are well known. Over the years, these PDAs have evolved and new features have been incorporated. So Sonic 1000, would be competing with the companies whose PDAs, already have a market. Since the growing world economy has opened opportunities where new technology would be playing a very important role. Sonic, needs to come out with something which would be unique while having all the features of the currently popular PDAs, at no extra cost. After thorough analysis of the present market, the company proposes to give several value added services to its customers.
The new Sonic 1000 would be a small hand held compact computer serving as a 3G camera phone with wi-fi features like Bluetooth, infra red technology thus facilitating easy internet connection. Sonic 1000 PDA would be equipped with a micro mini hard drive of 40 GB and USB connection that would make data handling easy, fast and efficient. 3G facility would enable video conferencing and the executives would be able to interact with their office and clients, while on the move.
Looking at the vast potential for this type of gizmos, in the first year, the company proposes to sell 240, 000 pieces at the estimated sales revenue of $60, 000/-. With the loss of less than $10, 000/-, the company intends to capture 3% of the US market during the first year. In the early second year, as per the projected target, the company would be breaking even and thereafter, it would be making healthy profit.
Sonic 1000 packed with powerful features, will be the most amazing compact computer-cum-phone that is guaranteed to make the laptops redundant. The customers would be getting the advantages of three devices for the cost of one. The introduction of Sonic 1000 would be backed by some more value added services like comprehensive 2 year warrantee and buy back- back facility etc. which is sure to make it an irresistible item!