Economics Industry and Company Facts: Essay

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Workhorse consumers are also far more likely to buy in volume, so focusing on building a machine for this sector could yield substantial profits.

Travelers, on the other hand, are willing to pay a slightly higher price for slightly higher performance and greater ease in carrying the unit around. Salespeople and others that are often on the road for business need a machine that can keep up with them and all of their work but that isn't cumbersome in terms of size or budget. Though a significantly smaller portion of the industry's customers fall under this category when compared to the Workhorse category, there is still substantial profitability to be had with these consumers as well as potential technology spillovers from innovations made on Traveler-focused products.

Competition

Iconic, Inc. is entering the microcomputer field along with six other competitors, and though Iconic, Inc. is currently the overall market leader there are specific sectors in which the company is being especially threatened, and competition is still quite fierce. Some competitors are focusing on other consumer segments, which carries certain clear advantages for Iconic, Inc. And the decision to focus on this company's strengths, yet there is also significant overlap in targeting and marketing efforts as well as the issue of ongoing competition in the industry as a whole. The following table breaks down the competitive analysis of Iconic, Inc. And its two primary competitors in the Workhorse and Traveler sectors.

Table 1: Competitive Analysis

Factor

Iconic, Inc.

Strength

Weakness

Ikonic

Quantum

Products

Products offered in all five consumer segments, with emphasis on targeted areas x

Offers products in four fo ive segments with less specialization

Offers products in only two consumer segments

Price

Target segments for the company are moderately price sensitive x

Price sensititivty profile is similar to Iconic, Inc.

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's, and products are competitively priced

Products have yet to show substantial competitiveness in pricing/feature ratios

Quality

Quality control costs have been kept relatively low without sufficient detriment to product quality x

Quality costs are lower, as is quality itself

Higher quality costs are contributing to slower sales

Selection

Four brands in five segments gives consumers greater selection and brand familiarity x

Four segments served by as many product lines provides Ikonic with similar familiarity

With a single brand in two segments, selection is not a focus of this company

Service

Service and customer satisfaction are primary concerns for the business and will represent a major resource outlay x

Service data currently unavailable

Service data currently unavailable

Location

Manufacturing ill take place in Mexcio for distribution throughout the Western Hemisphere

x

Manufacturing centered in Canada for North American markets

Asian manufacturing for Asian and European distribution

Sales Method

Direct-to-business sales will form the bulk of the company's revenue stream

Retail efforts have been identified by this company as the option with highest potential rewards

Wholesaling and retail options have been explored by this company

Advertising

advertising trhough websites and traditional media aimed at business consumers

Direct end-user advertisments are preferred

Trade shows and retail expos are the primary marketing tools of this company.....

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