Hi, I need some major assistance regarding designing an entry level camera. What I need to do is implement a good strategy based on the entry level camera. The goal is to design a product at a reasonable price with a P/Q of 1-2 stars. The problem that I am having with this strategy is how can I design a camera that is of good affordable quality. The bottom line is that I need to apply a business strategy that proves capable of delivering good bottom-line results and build shareholders value.
- What type of strategy should I use as a guide in designing an affordable camera?
- What should I base my decisions on and what kind of results should I expect now and in the future?
In the beginning, the results will be based on the target market. If you have properly researched and organized your target market and targeted those specific groups, the results would be based on current demand from those particular user groups. As with any start-up business, the first few years produce less than optimal results due to the expenses incurred during the initial phases of the business. In this case, that also holds true. The expenses incurred with the product's development and manufacturing will likely outweigh any profits seen in the first few ...
This solution explains the type of strategy that should be used when designing an entry level product. A thorough discussion is provided regarding decision-making, results, and other related topics.