| Summary: | The business of L'Dumblr is based on the technological business that brings new and efficient product to the customer to make their life become easier. This business develops product that can solve ease an individual's work. Within a period of 2 years of researching and development, our company introduced L'Dumbler to the market. The L'Dumblr is a developed tumbler inspired from self-stir mugs where the L'Dumblr tumbler have features to stir drinks with a push of a button, maintain the heat of tea or coffee drinks with some other featured function. This product has become more popular amongst tourist, student and workers. L'Dumblr has many functions that help make our morning easy especially for people whom favors to bring their own home made drinks to the office. The L'Dumblr is a product that avoids drinks from spilling when the tumbler falls or slips from consumer hands or maybe tumbles from the table or car where it has an anti-spill lid which consists of a strong and secured sealant rubber holding the water from spillage even after hard-fall. The L'DUMBLR COMPANY is targeting market based on three types of customer which are tourists, university students and also workers. This is because of the tumbler function that fits the targeted customer's behavior and lifestyle where they lack of time to visit coffee shops, thus, making this product very useful to their needs. In order to enter the market, every company must conduct a competitor analysis to know the strengths and weaknesses of the competitors. This is done to acknowledge their position in the market, the methods used to attract customers and the size of their market. We also need to have knowledge in making judgments in terms of pricing, promoting, advertising, branding and other aspects. Therefore, L'DUMBLR COMPANY must make sure that each type of product released to the market must be able to compete with surrounding competitors. The disadvantage of L'Dumblr is that the competitor's product is better known in the market.
|
|---|