Electronic Shelf Labelling System Swot and Market Potential/Anticipated Share
- Submitted by: radwanyes
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- Category: English
- Date Submitted: 06/12/2010 07:15 PM
- Pages: 10
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PURPOSE
The purpose of this assignment is to provide an opportunity to conduct some research into emerging trends and market potential using non-traditional data/information sources through a detailed SWOT and a market potential and anticipated market share analysis. ILYK is a company manufacturing and selling digital display software and digital tags to retail stores throughout Hamilton and surrounding areas.
INTRODUCTION
Digital displays are labels that can be affixed to store shelves to display pricing, product description, weight, allergy information, any promotions and a bar code. With this new technology retail store employees can change the prices of the products in one shot. The information will be located in a database that will be transferred to all the labels via Bluetooth.
The retail industry needs to be extremely efficient at identifying and ordering goods as well as at the display of the goods, posting the price of such goods and attracting the attention of its customers to the price of such goods especially when goods are marked down for promotional purposes. This applies both to inventory ordering and back ordering of goods, as well as the actual sales of goods from existing stock. Profit margins may be critically dependent on those factors, especially when retailers have to turn over or clear out stock.
The SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in the digital signage industry. It involves specifying the objective of the business and identifying the internal and external factors required to achieve that objective.
Strengths
offer a strong foundation for growth
Weaknesses
are attributes harmful to achieve objective
Opportunities
are ongoing, sustainable growth
Threats
are addressed by the strengths of the sector
MISSION STATEMENT
To provide a cost effective and streamlined process of displaying digital product information...
The purpose of this assignment is to provide an opportunity to conduct some research into emerging trends and market potential using non-traditional data/information sources through a detailed SWOT and a market potential and anticipated market share analysis. ILYK is a company manufacturing and selling digital display software and digital tags to retail stores throughout Hamilton and surrounding areas.
INTRODUCTION
Digital displays are labels that can be affixed to store shelves to display pricing, product description, weight, allergy information, any promotions and a bar code. With this new technology retail store employees can change the prices of the products in one shot. The information will be located in a database that will be transferred to all the labels via Bluetooth.
The retail industry needs to be extremely efficient at identifying and ordering goods as well as at the display of the goods, posting the price of such goods and attracting the attention of its customers to the price of such goods especially when goods are marked down for promotional purposes. This applies both to inventory ordering and back ordering of goods, as well as the actual sales of goods from existing stock. Profit margins may be critically dependent on those factors, especially when retailers have to turn over or clear out stock.
The SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in the digital signage industry. It involves specifying the objective of the business and identifying the internal and external factors required to achieve that objective.
Strengths
offer a strong foundation for growth
Weaknesses
are attributes harmful to achieve objective
Opportunities
are ongoing, sustainable growth
Threats
are addressed by the strengths of the sector
MISSION STATEMENT
To provide a cost effective and streamlined process of displaying digital product information...