Digital Camera :: Business Management Studies Assignment

Digital CameraProduct The product which I am planning to do is a digital camerathat contains former(a) useful features which would be ideal for theconsumers. These features can range from games, music downloads,radio, Bluetooth and email access (depending on what consumers preferbetter).Promotion When promoting my product I will give notice (of) on thetelevision which may expand to international channels depending on howwell my product will do in the market. Also pick out a demo of my productat exhibitions that take place for consumers to see, feel and touchthe product rather than just a picture on the magazines. To aalsoattract more than consumers to my product they will receive an attachedprinter for half price.Price Digital cameras are ranged from 700 to 90 relying on thequality of it. I will hasten 2 take out my market research to see whatprice would be a reasonable price for the camera.All industries are influenced by SLEPT factors. For example, around ofthe SLEPT factors a ffecting the airline industry in recent yearsinclude complaisant increased popularity of foreign travel leading to a boom indemand for air travel. However, this has been adversely affected byinternational terrorism.Legal there are increasingly tight rules about the materials thatneed to go into aircraft wrench in order to make them safer andmore resistant to fire hazards. This has had the impact of raisingcosts.Economic lower interest rates have meant that people have moredisposable income to spend on luxuries like long distance air travel.Political the development of freedom of movement and trade in theEuropean Union has led to greater levels of competition on Europeanroutes coupled with increased movement of people.Technological modern aircraft are safer and more economic to slope thanin the past making possible cheap air travel.Before creating business plans or when evaluating existing ones it isimportant to scan the external environment. This takes the form of aSLEPT analysis, i.e. an investigating of the Social, Legal, Economic,Political, and Technological influences on a business. In addition itis also important to be aware of the actions of your competitors.These forces are continually in a state of change. Social factorsrelate to pattern of behaviour, tastes, and lifestyles. A majorcomponent of this is a change in consumer behaviour resulting fromchanges in fashions and styles. The age structure of the populationalso alters over time (currently we have an ageing population). Anunderstanding of social change gives business a better feel for thefuture market situation.Laws are continually organism updated in a wide range of areas, e.g.consumer protection legislation, environmental legislation, health &