Below is a draft if the group project. I need help filling out the Market Analysis for the following:
Our Potential Product
A Portable Lightweight Charger/Starter which can be used for cars, boats, airplanes, medical
equipment as well as laptops, mobile phones and most portable devices. The unit can be
connected to preinstalled USB ports for recharging or its built-in solar platform. It’s ability to be
recharged using 110/220 volts, 24 volts or solar power will be a standard feature. The product
will be called Universal Solar Portable Charger.
This product was chosen because it can be used as a portable multipurpose equipment – in the
automotive, aviation, medical field, and maritime industry. Also, it is a green product capable for
being recharged using solar energy. The product is made with recyclable material and designed
to minimize its environmental impacts during its whole life cycle and even after it is of no use.
The company would be setup in Delaware with a registered location in Florida and be called
BMOT Industries. This is due to its proximity to the aviation, medical and marine industries, as
well as expanding automotive dealers. The initial targeted country will be Brazil due to its
massive population and critical mass consisting of two hundred and twelve million persons.
The company’s distribution would be worldwide with a concentration in Brazil. Afterwards, we
would target other populous countries in South America with proximity to Florida. Mainly
countries with existing and expanding industries in aviation, marine, medical and the automotive
We will determine the best entry mode for our product after carefully evaluating the advantages
and disadvantages. This would require us to determine whether the entry mode for the product
should be exporting, turnkey project, licensing, franchising, joint ventures, or wholly owned
We chose exporting as the initial mode of entry into Brazil and other foreign markets. As
business progresses, the mode of entry into overseas markets can be reassessed.
Reasons for Selecting the Mode of Entry
Since we are introducing a new product, the company will be seeking to avoid any substantial
costs, including that of having manufacturing operations in Brazil and the other foreign markets.
Also, the company can possibly achieve significant scale economies by manufacturing the
product in Florida, then exporting it to various countries.