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Market and Competitive Analysis

Product Classification:

Low cost
Low price
High technology

Market Trends:
The life styles of disabled people are not the same as before. They have their own needs and desires. They do not want to be felt differently and the most important thing is that they want to live like a normal person. So, our product is going to provide them safety and comfort by noticing the objects around. Warning and safety system is going to be done by sensors. A lot of organizations and events are done for the disabled people, which mean our market is huge. All above stated conditions mean that we are going to be able to satisfy both the market needs and the market trends.
Industry Analysis:
As an industrial approach, our aim is to minimize the danger of the environmental factors and the psychological effects due to blindness and deafness in the second segment, whereas maximizing the morale and safety of the customers. By alerting the customers for the objects around the danger is going to be minimized. The product is going to make the customers get rid of the cane, so the effect of thinking than people around know that the person has a disability is going to be also minimized. Being able to be much more comfortable and less necessity of the help of people around will increase both morale and safety of our customers.

Market Segmentation:

412,312 visually impaired
80,813 including retired, have income, expected to work
241,738 registered to Social Security Foundation

Industry Participants:
Medical Shops
Drug stores

Distrubiton Strategy:
The product is for the use of blind people in order to save them from the cane and let them be aware of the objects around. Consequently, blind people are the customers of our product. In order to reach them, we will use the foundations as distribution partners. These foundations such as Altı Nokta Körler Derneği and Ophthalmology Association will help us reach customers and help customers reach us. We are planning to reach to our final consumers by these communities. We are also planning to make advertisements in health magazines. We plan to make an agreement with Social Security Foundation like the medicine companies so via social reassurance provided by the government for visually impaired people, we will expand our market.

Competitive Advantages:
Our research indicates that the VIBRO-I has three main competitive advantages. These are low cost advantage, low price advantage and high advantage. The unit cost for product is 340.60 $ which provides cost advantage toward our competitor. Secondly the average price for VIBRO-I is 371.00 $, which makes the company achieve the price differentiation in the market. Furthermore, we differentiate ourselves by high technology. We are planning to manufacture specialized products, such as loading GPS and using wireless connection, according to customers’ financial status.