The Cost Analysis Of The Segway

I think there are probably lots of questions that need to be answered, however the ones that I think are most important are is there a demand for this type of product? If there is a demand who is the target population we want to reach? Are there other products that are similar? If so what does the pricing look like? And does the product have a projected market growth?
The biggest research is going to be completing a market analysis and determining how much should be charged, who we should focus on when advertising the new product, and the cost analysis to determine the cost to make and sell the product. I think using internal sources are the best way to go because of expense, however when it is just one person, I would utilize outside factors
These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. The Segway did not do a good job examining the macro environment prior to it being made. If they did they would have found that the technological changes that it would bring were just too soon for the potential customers. People were not ready to have such a high tech machine that could bring you everywhere just by hoping onto it. There was a possible small group or niche for this product due to cost and it would really have to captivate these social groups that it would be marketing to.
If I actually implemented a plan for the Segway I would have known from the beginning that there was a very small market and the world just wasn’t quite ready for the product I created. Knowing this would have given me the option to decide when I wanted to reveal the product to everyone and focus on a huge marketing strategy to assure I could get a much larger audience. I would have also saved millions of dollars by not creating a plant and staff to make 10,000 devices per week, when I was only getting orders for about 10 a