At Team Andrews, we strive to ensure our firm’s success by focusing on our core competencies which include high customer awareness and accessibility. In the next round, Team Andrews will focus on steady growth through international expansion and cost reduction. Some of the issues that Team Andrews is currently facing include high cost structure primarily with sales and promotions expenditures and a lack of industry knowledge. Team Andrews did not align products with consumer buying criteria and had invested in areas that did not add the most value to the business. After realizing these mistakes that we had made for earlier rounds, Team Andrews has decided to pursue a new strategy by expanding our operations into the market in Mainland China. …show more content…
According to Report Linker’s Pressure Sensors Industry report which forecasts industry performance to 2020, the pressure sensors sector is expected to witness a substantial growth over the next few years, due to a rapid increase in automobile production. In addition, consumer electronics is analyzed to be the fastest growing segment in the pressure sensor market. However, the North American market is reaching maturity and is expected to plateau in the next few years. Asia Pacific is analyzed to dominate the pressure sensors market on a global scale, because of the increasing production of motor vehicles and rapid level of industrialization in the region. Therefore, after taking into account these various global trends in the sector, Team Andrews plans to expand our operations into the rapidly growing Chinese sensor …show more content…
In 2014, the global sensor market was valued at USD$126 billion, in which China represented 10.8% of the overall market. The Chinese sensor market grew at an average annual growth rate of 23.6% over a period of six years from 2009, and it reached RMB$86.5 billion in 2014. The sensor market in China is expected to reach RMB$247 billion by 2018. Furthermore, Mainland China houses 1,560 sensor manufacturers, capable of producing three billion units annually. The China Sensor Trade Association (CSTA) estimates that the number of sensor manufacturing companies may be increasing by 30 per cent per year. While some companies in China concentrate on serving domestic demand, a growing number are achieving significant export sales. In 2014, consumer electronics make up 41% of China’s demand for sensors and automobiles account for 14.8%. In the future, smart cars, wearable devices, industrial robots and other intelligent industries will promote the development of the sensor industry as main