Splitting A Monopoly Within The Sensor Industry
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Splitting A Monopoly Within The Sensor Industry
Executive Summary
The government decided to split a monopoly within the sensor industry and there were six teams that were created to compete in the sensor industry. Our team Chester began our first year on a financial level trying to compete with our competitors which were Andrews, Baldwin, Digby, Erie and Ferris. As to every company, there were issues that the Chester team faced in order to compete among the mentioned teams. Each team involved were faced with decision making tasks to improve their standings in the market by trying to improve their sensor products, marketing efforts, finances and productions over an eight-year time span. This report will show how the Chester team competed with the other teams and where we stood within the eight years of our product from start to finish.
The sensor market evolved and the Chester team was faced with two types of markets, the Low tech and the High-tech markets. Within these two markets, there were concerns due to each market having their own specifications of what the customers wanted from a product. Team Chester had to keep a close eye on our competitors during each year so we could meet the needs of our customers. Team Chester initially started off using the Broad cost leader strategy for the low-cost product in each of our segments of the market. We decided we wanted to have great profit margins while keeping the price on our sensors low for the customers that are price sensitive. Our company had the ability to reposition our product rather than introducing new ones to the market.
From the begining to the end, team Chester shows how our business developed from being on an equal field with our competitors, to how we ended with our market shares of both the high- and low-tech products. We show how we first started out, which was on an equal level with our competitors in the market share which began at 16.7 % and how our company progresses with minor issues resulting in emergency loans and how team Chester competed with the other teams.