In order to establish any market, it is required to have proper analysis made so that the scope can be analysed. As per the criminal aspect is concerned, the rate of theft that take place at Muscat is raising tremendously (Oman, Tumer and Seepersad, 2013). In order to overcome this issue, new firm is introduced that provides security to luggage’s that a person carried. Name of the company will be Smartbags that provides all type of bag of all size. These bags have charging facilities and it user can track then even if they forget to take them.
IMPORTANCE OF ENVIRONMENTAL SCANNING
In order to conduct the environmental scanning, there are different type of tool that can be used. It covers six elements that provides where the country stands. This is a type of industry that will enable to provide security and support to people. Further, the rate of theft that takes place at Muscat will get reduced. The firm will be established near Mina al Fahal as this is one of the most popular places of Muscat where travellers visit. This will enable to convey information regarding the bag and this it can help to raise the sales. Even the local people prefer to visit this place and it will enable to make sure that their stuffs are safe. Tourists who visit this particular place is high and so that this can help in making the business to attain their set of goals and objectives. However, people face issue in relation with theft and so people are scared. This is a type of issue that is being faced due to which people are scared.
With time, there is various type of changes that has taken place in relation with technology. Digital bags will help to make a better place were the rate of crime can be reduced. For example, the use of internet was very low at the initial stage but with time people have made it to be one of the most effective source for purchasing goods. Similarly, these digital bags will be helpful enough for individuals to be secured regarding their luggage’s that generally gets lost when proper care is not taken (Al-Belushi, Stead and Burgess, 2015). In order to overcome the issues faced at Muscat, use Smartbags are will enable to reduce the rate of crime. Thus the fear that people have in their mind will also get reduced.
HISTORICAL ENVIRONMENT ANALYSIS
One the product is established at local level, then other states of within the country will be targeted. In order to make it reach to international level online platform will be used so that all are able to make use of the goods provided by Smartbags. The criminal records are increasing and this will help to reduce this rate to high extent. The rate of employment is also low and this is considered to be one of the reason due to which people are getting into criminal activities. However, these bags will support government to catch criminals and can also be stated effective on reducing the rate of crime. When individuals develop fear of getting caught, then becomes helpful enough to reduce the crime rate. With the help of this product, the business will be able to develop that fear and thus government will get benefited.
OPPORTUNITY FOR BUSINESS
Main opportunity that will be attained from this business is support to government in reducing rate of criminal activities. In accordance with the current situation faced, the rate of crime in this place is high. With the help of this product, government will be able to control over crime in effective manner. Further, the location in which it will be established is close to most touristic place and so it will have positive impact providing information to people. In addition to this, people generally do not have proper understanding about such type of bags and so by developing this market will boost up the moral and in covering the marketing. Further, it also helps to provide individuals to charge up their mobile whenever they want. When people get to know about the products, then with the help of experiences that individuals had will help in making other take purchase decision.
Main focus of this pitch is to make sure that marketing mix is covered for the new product introduced. These are helpful enough to provide detailed understanding about the product. With this respect, it includes product, price, place and promotion.
In path 2 the marketing mix of new innovative business is being discussed. By having an effective consideration of such measures the issues in terms of sustainability can be resolved. It allows to have proper understanding in regard to product, price, place and promotion. It indicates that features of product can be highlighted in the practice. Along with this, pricing measures can also be taken into account more accurately so that goals and objectives can be accomplished. Moreover, different methods of promotion also need to be referred in the practice to create awareness about product.
Being a luggage firm, management can focus on introducing new product at Smartbags. In this, number of Smartbags products can be sold according to customer needs so that goals and objectives can be accomplished. Results obviously are digital bags which will have diverse features in regard to digital security of bags. (Beller, Weiss and Patler, 2017). In this, GPS tracking, auto-lock and other features are also key attractions. When building up an item management has to think about quality, outline, highlights, bundling, client benefit and any ensuing after-deals benefit. Company can focus on introducing specialist of Digital bags that will help to make a better place were the rate of crime can be reduced. Unique features in the Digital bags will assist travellers by offering security measures. Such kind of product line can also boost the business of firm and lead to impressive level of success. The product is helpful enough to track down the bag if it is missed out. Further, it can enable to reduce the rate of crime and help in raising tourism. Apart from this, it also has the facility to charge the mobile phones and bag itself has about more than 1 week battery backup. Apart from this, the size of the bag is 22 x 14 x 9(inches)/560 x 355 x 229 (mm). These are available in different colours like black, white, purple, grey and pink.
Pricing of product is one of major concern for every organisation in order to attain sustainable values. By having an effective consideration of pricing factor the issues can be overcome. Value concerns the measure of cash that clients must pay with a specific end goal to buy Digital bags and Smartbags. In order to have effective customer attraction the management can focus on cost leadership technique (Betz, 2011). In this, low pricing products will be sold to customers. Company will sale its products at price of 300 pounds. Low pricing of products will attract more and more customers and allow business to accomplish key goals and objectives. It has been witnessed that customers are always attracted towards products at low pricing. However, it is necessary for management to ensure about the customer needs and quality of product.
Advancement alludes to the demonstration of conveying the advantages and estimation of item to the clients in showcase. It at that point includes inducing general buyers to wind up clients of Digital bags and Smartbags through business utilizing techniques. For example, promoting product at different stages with use of diverse measures. In addition to this, it can be said that using diverse advertising methods the issues can be resolved. By having an accurate promotion of key values the business can be boosted in desired manner (Bowhill, 2008). For advancing the offerings of organization in the objective market, it can be proposed to experts that they should advance it through an assortment of strategies. On the web and online networking advertising alongside deals advancements and markdown plans can be utilized as a part of this respect (Hooley, Saunders and Piercy, 2009). Advancements through web-based social networking and web based showcasing will help in extending opportunities of the organization to attain a substantial group in the market. Along with this, TV advertisement will also be considered as promotion tool which will assist in meeting standards of promotion.
For advancing the offerings of organization in the objective market, it can be recommended to experts that they should advance it through an assortment of techniques. On the web and online networking advertising alongside deals advancements and markdown plans can be utilized as a part of this respect (Dibb and Simkin, 2008). In respect to web page, company will start its own online shopping store for better customer convenience. Advancements through web-based social networking and web based showcasing will help in growing scope of the organization to a vast gathering of people. Further, City centre is considered to be most suitable place where the product can be introduced to customers (City centre Muscat, 2017). In addition to this, company will set up its Smatbags store at middle of city in Muscat where more and more customers can reach out. It will also help in business operations and lead business to impressive level of success (Evans, Jamal and Foxall, 2009).
- Ø Betz, F., 2011. Managing Technological Innovation: Competitive Advantage from Change. 3rd ed. John Wiley & Sons.
- Ø Bowhill, B., 2008. Business Planning and Control: Integrating Accounting, Strategy, and People. John Wiley and Sons.
- Ø Dibb, S. and Simkin, L., 2008. Marketing Planning: A Workbook for Marketing Managers. Cengage Learning EMEA.
- Ø Evans, M, Jamal, A, and Foxall, G., 2009. Consumer Behavior. 2nd ed. Wiley.
- Ø Hooley, G, Saunders, J and Piercy, N., 2009. Marketing Startaegy and Competitive Positioning. Prentice Hall International.
- Al-Belushi, K. I., Stead, S. M. and Burgess, J. G., 2015. The development of marine biotechnology in Oman: Potential for capacity building through open innovation. Marine Policy, 57, pp.147-157.
- Oman, S. K., Tumer, I. Y. and Seepersad, C., 2013. A comparison of creativity and innovation metrics and sample validation through in-class design projects. Research in Engineering Design, 24(1), pp.65-92.