External And External Causes And Effects Of Market Change

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1 Question 2. External and Internal Causes and Effects of the Change
1.1 External Causes
Customer
Customers have more powers in choosing products and services nowadays, which stimulate changes (Hammer and Champy, 2001). Developing products to meet customers’ needs and searching for new customers who discovered product values could contribute to a win-win situation for our company and buyers.

Competition
A lab launched similar 15-year battery in the US which was sold at a very high price. The existence of similar product showed us the great value and potential of our product and made it urgent for us to identify potential markets.
1.2 Internal Causes
Sales Strategy
Since we failed to negotiate with original buyers to purchase at relatively high prices and dumped Bat 1 by mistake, those customers would perceive products with low values. Finding more markets gave us a chance to earn more money.
New Product
As we established a partnership with the lab, we created the Bat 2 and Batmedical with different features on Day 2 and Day 3, which prompted the company to capture new markets.
Owner’s Decision
On Day 3, the development of a new function or creation of a new product was required by the chairman. Products should be matched to specific industries and benefit customers. Consequently, it aroused the need in opening new markets.
1.3 Effects of the Change
The positive effects of market change were the increasing revenue and improving reputation as we established business

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