? NVISON Technologies SWOT and Market Analysis of Pricer ESL system service provider INTRODUCTION Retail industries are growing and want more efficient in displaying their goods in the shelf and so the Electronic Shelf Label are in demand to satisfy the consumer demand and wants retailer to be ahead on in this competitive world. To give best and add more new features to give more and best information to their customers Pricer partners always wants more from their ESL system.
Pricer holds the majority in the world for manufacturing and selling of Pricer ESL system but buyers always wants an expert who gives best services for the Pricer ESL system.
The SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in the electronic shelf label servicing industry. SWOT ANALYSIS OPPORTUNITIES Pricer is the leader in the world market by manufacturing ESL system. Customer of pricer ESL system wants more from the ESL system. Less no.
of Pricer ESL system services provider. No. f Pricer ESL system users increase. Retail industry growing day-by-day. THREATS New Entrant in the market. New competitor in the market. Fast changing technology. STRENGTHS Expertise in Pricer ESL software. Educational/work background (IT and software). Cost competitive service. WEAKNESSES Limited target market (pricer ESL partners) Limited resources. Low market visibility. OPPORTUNITIES Pricer is the leader in the world market by manufacturing ESL system ESL technology is widely known in the world. ESL system is widely captured by pricer and the presence of ESL is felt in the retail industry.
With 60% market share worldwide of Pricer ESL system and partners include continent of Africa, America, Asia-Pacific and Europe. And being expertise in the Pricer ESL software the scope for ESL services is inevitably required by the Pricer partners. Citation 🙁 About pricer, Introduction of Pricer, Website: – www. pricer. com) Customer of pricer ESL system wants more from the ESL system By providing more features to the present pricer ESL system we make customers satisfied and pricer partners also fetch more profit and make permanent customer for their business.
By providing more insight into the system and helping out pricer partner make the business work. Less no. of Pricer ESL system services provider As there is only few no. of company who provided services to the pricer ESL system. The scopes for providing services to the Pricer ESL system is more and while worked with Pricer ESL software in past give us add on advantage with the rest of the competitor in the market. No. of Pricer ESL system users increase Market share of pricer ESL system is more than 60% as the data show that there is tremendous scope for the services from the pricer partners.
And to get avail the service there is not much better option for the customer other than us… Retail industry growing day-by-day As the retail industry are growing and the future of retail industry is surely promising with the giant in retail like Wal-Mart presence their felt across the countries. The retail chains are expanding globally, opening stores in emerging markets and in countries with thriving economies. We see that the demand for more retail store is an opportunity for our company to give Pricer ESL services across the world. Citation: – retailindustry. about. com. http://www. thestar. om/business/article/770397—wal-mart-to-expand-other-retailers-wary (Wal-Mart to expand; other retailers wary. Retail giant plans to open 35-40 more supercentres in 2010, creating 6,500 jobs) THREATS New Entrant in the market. As we are new in the market our presence are not yet felt by the pricer partners. Pricer partners may not want to take our service due to fear of the unknown. Other factor that may prevent pricer partners is to get service from a new company will realize them whether it is right to invest in a company which is new one and the cost associated with getting the service.
When investing into a new company the customer doesn’t want to be uncertain of the efficiency of the service they get may be a threat to our company. New competitor in the market It is not only incumbent rivals that pose a threat to firms in an industry; the possibility that new firms may enter the industry also affects competition. As a new player in the software services we are always keep our service update as compare to our competitor and always search for what our customers want and what is the requirement of our customers.
We will always need to be as competitive and educated as our competitors. As well as finding ways to make sure we can always provide our product to our customers in a timely manner. Fast changing technology Changes in technology have helped retail businesses in a number of ways in the past couple of decades. Everything from electronic scanning devices to the Internet has combined to streamline the operation of retail businesses on a day to day basis and allow the businesses to focus more upon selling to their customers versus completing tedious work.
With new technology coming out everyday pose threat to our services if a newer and more unique product comes out there is a chance our services may become obsolete. STRENGTHS Expertise in Pricer ESL software The 11 man years of experience in pricer ESL software keep us ahead with our competitor. We strongly believe that, with our deep knowledge of Pricer ESL Software, we could add great value of services to pricer partner. This makes us confident and takes the advantages of early entrants and captures the market of Pricer ESL software services. Educational/work background (IT and software)
Nvison Technologies consists of 15 employees, most of which have extensive IT background. All of them are currently working in the field of Information Technology. All are currently familiar with most programming languages. This is a great advantage as we will not require outsourcing the software development. This knowledge allows us to create our own software and products in house. Cost competitive service Our cost compared to the quality of the work we deliver is very competitive in the IT industry. We are optimistic that the service we deliver will pick up in the market and we will be able to see to gain profit quickly.
We believe that the service we deliver will sell well and there will be a demand for it in the market. Citation: – (www. nvison. com- why us or working with us. ) WEAKNESSES Limited target market (pricer ESL partners) Unfortunately the drawback we see with the ESL system is that it will only be limited to retail stores and not every selling business. In the real world, not all of our targeted customers will get our service which will make it difficult for us to grow. The ESL service market is confined to giving service to only pricer ESL system and not all the ESL system manufacturer.
Limited resources As we are started with our own we invest small capital to avoid unnecessary debt in the beginning. And if required we take loan in the future from the bank or venture capitalist. Initial loan gives you unnecessary burden. Low market visibility As we are new in the market the service we are giving is not known by the pricer ESL partners to make our presence felt in the market. Also, the fact that as a new and small company, bigger retail stores may not have the confidence in our service or our business. We will have to strive to earn their trust .
A good marketing strategy is required and working towards to make our product/services a brand and launch in the market. MARKET POTENTIAL/ANTICIPATED SHARE Electronic Shelf Label (ESL) Global Market Revenue Venture Development Corporation (VDC) is a technology market research and strategy consulting firm that advises clients in a number of industrial, embedded, component, retail automation, and RFID, AIDC, datacom/telecom, and defense markets. VDC anticipates that revenue shipments for ESL solutions will grow at a compound annual growth rate (CAGR) of 17% through 2012, with unit shipments expected to approach 27 million.
In 2007, the global market for ESL surpassed $65 million, with unit shipments exceeding 10 million. The growth of this product and the retail market states that this product will most likely evolve substantially in the next couple of years. We believe this has a direct result on our services/product and level of success. Citation: (MoreRFID, Electronic Shelf Label (ESL) Suppliers Leverage New Display Technologies to Bolster Adoption, May 2008) http://www. morerfid. com/details. php? subdetail=Report&action=details&r eport_id=4537&display=RFID
This table summarizes the initial potential market we are targeting within the first 5 years of business. 1Define your target market and market segments •ESL Pricer Partners in different continent: Continent wise no. Pricer partners Number of Pricer Partners Africa 01 America 05 Asia-Pacific04 Europe27 Total37
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Marketing Research. (2018, May 27). Retrieved from https://graduateway.com/marketing-research-essay/