Niche Technology Company: Strategic Business Plan, Market Analysis

This report outlines the business plan for Niche Technology, an electronic firm specializing in household appliances and industrial equipment. It details the company's background, including its establishment as a partnership between Johansson Muhammad and Clifford Lone, and presents a PESTLE analysis, highlighting political stability, economic challenges, socio-cultural considerations, technological advancements, legal regulations, and environmental commitments. A SWOT analysis identifies the company's strengths in online sales, weaknesses in market competition, opportunities for expanding online presence, and threats from changing regulations. The report also covers the company's mission and vision, target market, market research, selling methods, environmental commitment, personnel background, and future career plans, emphasizing the protection of intangible assets and strategies for addressing potential market entrants. The company aims to foster strong customer relationships and provide quality services through online consultancy.

COMPANY
OVERVIEW
 Niche Technology is an electronic firm which produces
and sells the electronic gadgets ranging from household
appliance to industrial equipment.
 Some of key products which the company sells to
households include air conditioners, refrigerators,
microwaves, security lights and washing machines.
 Commercial and industrial production of electronic
gadgets include malodor controls, sensors,
instrumentation gadgets, fragrance, Televisions, HDD
and DVs recorders as well as security cameras and
digital alarm signals.

COMPANY
BACKGROUND This company is intended to be set on 27th June,
2018 as a partnership business venture. This
company is intended to deal with the production of
electronic products such the home based appliances
and sell them either directly to customers or through
wholesalers and retailers.
 The two main key partners in this business include
Johansson Muhammad and Clifford Lone. It will be
registered as the legal entity as per the stipulations
of the partnership regulations and act of Saudi
Arabia Country.
 Johansson Muhammad and Clifford Lone are the
key stakeholders and owners of the company with
equal shares as per the business plan (Nielsen,
Chambers, & Farr, 2015).

PESTLE
ANALYISS• Political-The country where Niche electronic company will be situated is stable, and this,
therefore, will create an enabling environment for business to thrive.
• Economic- Recently there has been an economic recession in the country and this greatly
affected the level of manufacturing and sales of the company's products negatively.
• Socio-Cultural-The company will aim to serve diverse customers all over the country.
However, this will be hindered by different values and beliefs of certain communities.
• Technology plays a critical role in the engineering sector hence has to be checked more often.
It constantly changes, and Niche electronic company will be expected therefore to utilize the
modern technology during the manufacturing of their products (Borowski, 2011).
• Legal: There are a variety of legal laws and regulations which guide the performance of the
company. For example, there are heavy penalties for imitation of another company's products,
and hence Niche electronic will produce its brand of electronics to win the public perception
and approval of its products (Hasan, 2013).
• Environmental: The increased rate of ethical consumers in the world brands of items who
prefers to have his or her brands of electronic items to be manufactured in a more socially
responsible environment, Niche electronic company will thus manufacture products to meet
up with the standards of an ethical consumer.

SWOT
ANALYSIS
• Based on logistics, the following will be the company’s SWOT analysis;
• Strengths: Niche electronic company will have the ability to sell most of its
products online, and this will enable the company to access a wider market
hence generating a massive amount of profits. Also, it will have a highly
visible website which will attract huge traffic of customers in the market.
• Weaknesses: The one critical weaknesses of the company will have is
that there will be competition in the market which will be created by
many competitors already in the market providing similar electronic
products and hence will reduce the profits to be generated from sales of
the items.
• Opportunities: There are a variety of opportunities which will be
created in the company. For instance, Niche Company will have the chance
to continue to expand its online sale, and this will be due to the huge
competition in the offline selling of electronic products.
• Threats: There is a number of threats which Niche electronic company
will be exposed to. Such threats will include, changes in regards to laws
and regulations which will impact the company performance negatively.

MISSION AND
VISION
Mission
• Hastening good customers’ relationship as well
as retention, through the establishment of an
inclusive consultative framework for the three
key stakeholders that is manufacturers, customers
and sellers
Vision
• To enhance quality services and satisfactory
customers services through the application of
online consultancy forum

TARGET
MARKET The key and vital products as well as services which the
company will be dealing with mainly pose as the electronic
merchandizes .
 Some of the key electronic products incorporated and
targeted mainly established as per the customers’
requirements.
 These include kitchen appliances, home entertainments as
well as commercial applications. The kitchen appliances
include refrigerators, microwaves and cookers. On the other
hand, a home entertainment system which the company
deals with is home theatres.
 Moreover, the commercial and industrial company
applications which Niche Technology proposed to offer
include instrumentation controls, pneumatic systems and
array techniques

COMPANY
PERSONAL

MARKET
RESEARCH
 According to Mullard (2018) market segmentation and analysis
establishes that technological application is a vital aspect and
specification which must be incorporated in the analysis.
 The analysis for the PLC, CCTV Cameras, Industrial
instrumentations and Microprocessors in both the pneumatic and
home based appliance is a vital and key element which is concerned
decisively.
 Over the past decades, approximately 200 million are using and
consuming the electronic gadgets both for the household chores and
for the business purpose worldide.
 The consumption rate for the electronic product is imminently
growing and the market price is established to be at about 56%
annually. Thus, the introduction of the Niche Technology Company
will even increase the sales while at the same time increasing
production and customer satisfaction in line with the electronic
products.

SELLING METHODS
• The Selling Methods to be used include
i. Direct Selling from the Company to
Customers
ii. Sales through Wholesalers
iii. Selling Agents
iv. Online Purchasing
v. Event and Roadshow Selling Method

ENVIRONMENT
COMMITMENT
• The increased rate of ethical consumers in the world brands
of items who prefers to have his or her brands of electronic
items to be manufactured in a more socially responsible
environment.
• Niche electronic company will thus manufacture products to
meet up with the standards of an ethical consumer. It will,
therefore, create a conducive environment which will not
interfere with the performance of various employees by
paying them adequate wages (McKay, 2015).

PERSONAL
BACKGROUND
 The personnel to be employed in this company to
discharge various functions include the head of all
the operations and the management of the company.
The individual is the top most in line with the ranking
and termed as the managing director.
 The general manager of the company will be the
head of production of the electronics which the
company is intended to produce.
 Thus, the general manager department will
incorporate the engineering department, quality
check and control as well as the production technical
personnel. The other departments will have their
duties as outline in the company policy.

FUTURE CAREER
PLANS All the inventions, artistic works, and designs of
the company will be protected to enable them to
have full control of the intangible assets.
 The company is likely to be faced with the threat of
new entrants in the market in the near future even
though large capital is required for advertising,
branding, and creation of product demand.
 It will, therefore, force the company to institute
certain barriers to entry such as economies of
scale, well-defined brands, access to inputs,
economies of scale and cost advantages (Dobbs,
2014).
 It looks at the ability of various customers in the
market which is likely to impact the quality and
pricing of items.