Question

Glo-Bus

Are there any driving forces in the two market segments/product categories where your company competes? What impact will these driving forces have? What external market opportunities for growth and increased profitability in wearable video cameras exist for your company? What external market opportunities for growth and increased profitability in UAV drones exist for your company? What external threats to your company's future well-being and profitability do you and your co-managers see? (Market overview and relevant factor/PESTEL analysis).

please write about wearable camera industry and UAV drone industry

Answer 1

First of all we need to understand the market segment or product categories and why it needs.Accordingly it is the process of dividing a market of potential customers into groups or segments based on diffrent caracteristics with the diffrenet product categories.The created segments copmprised of consumer who will respond similarly marketing strategies about their products.So as the products like wearable video camera and UAV drone is concern that its specific product that targeting specific customer and its very specific and well defined market segment.So its called niche marketing.

By postioning the product in niche market there are several driving force impact on products like transformaion of technologies,experince of the brand image,transparency of customer relation,informatic connection by offline and online,value creation and delivery,testing of data ana dinformation about market mix,creativity,and marketing ledership is required.

Before positioning the product in market need to analyse its strength,weakness,opportunities and threats called SWOT analysis.As it concerned that its internal aspects of strength or weakess and external aspects of opportunities ans threats of company and product for competing the market and in other side USP of all.

There are so many extrnal factors involve in market for growth and profits.Hereby we need to be concern about the PESTEL analysis aboout these product camera and UAV drone.By launching the product in the market face some challenges by diffrentt factors like as follows:

P:Political factors:-Govt. policies,political stability,foreign trade and tax policies,labour law and trade restrictions that need to be considered,

E:Economic factors:-economic growth and exchange rate,interes and inflation,disposable income and unemployemnt.

S:Socio Cultural factors:-demographic change,population,safety and health conciousness,lifestyle attitude and cultural barriers.

T:Technology:-Information and incentives,level of innovation,automation and R&D,technological change and awareness.

E:Environmental:-weather climate,environmental standards,climate change n pressures from NGOs.

L:Legal:-Discrimination law,antitrust laws,employment and consumer protection laws,copywrights and paents laws,health and saftey laws..

These are the extrnal factors may impact on your profit in the market and growth