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Gps Business Opportunity Memo

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GPS Business Opportunity Memo
MKT/431
December 24, 2012

GPS Business Opportunity Memo
A competitive analysis is an important step in new business opportunity for any business larger, medium, or small in size. This type of analysis is an assessment of the strengths and weaknesses of current and potential competitors. It provides information to help a new company with an edge to identify opportunities and treats in their perspective marketplace. Team D will describe the result of a competitive analysis for our GPS system, the NAVSTAR. We will explain the characteristics of the market niche to which the product will be targeted. Provide recommendation of our brands characteristics to support the GPS’s value. Specify the overall value proposition and recommend unique product characteristics that will appeal to our targeted market niche.
Competitive Analysis
With technology increasing everyday many people are using some type of GPS tracking system whether they know it or not. Global Positioning System was created originally for the military to use during maneuvers. NAVSTAR Global Positioning System is the preferred usage with the military because of the reliability of the PNT (positioning, navigation, and timing). Military use Precise Positioning Service signal for more accuracy of the Standard Positioning Service (Dana J. Johnson, 2006 p. 3) since 1950’s until present.
Civilians currently have access to GPS navigation systems such as OnStar through their automobiles. Also “aviations, highway construction, public transportation, railroads, communications, surveying teams use GPS’s, even law enforcement, firefighters, and other emergency personnel” (Monograph Reports-GPS p. 97). People even use the GPS for tracking their progress with weight loss or their teenagers locations or elderly. Market Niche
With some people they would rather remain in the dark ages where no one knows where or what they do. Many people fear big brother watching them therefore they will do whatever it takes to remain under the radar as they claim. Therefore this mentality opens the door for companies such as trackingjammers.com. GPS Jammers are taking the initiative to create a niche in the marketplace just for them. This company caters to the public that want to remain in the dark ages and the paranoid people.
Another niche is using the cellular phones to locate elderly, child, and teenage family members. Along with personal, such as luggage when on a trip, pets, and even sexual offender tracking. With the number of missing in the recent years continuing to climb, personal GPS tracker is appealing to proactive parents (Irving, Haymes, Perez, & Stephan, 2012).

Brand Characteristics
Majority of GPS technology on the market are simply touch screen and bulky. The product that would be developed and introduced to the market will be a thinner rendition of current TomTom XL 330S and Garmin Nuvi 255W and be similar in height and weight as the iPhone without the rounded corners to avoid similarity and face legal issues. The new, compact GPS will have voice recognition software built in so as to avoid punching in addresses where they can easily be spoken and decoded into the system and offering results suggestions.
The difference of this product will be the compact size and its voice recognition software for speaking an address rather than touching the screen. Voice recognition will only be available for location entries and not for finding points of interests or other functionality of the device so as to not encourage use by driver while vehicle is in motion. TomTom XL 330S | Garmin Nuvi 255W | New GPS | 4.7 inches touch screen, light touch, weight: 6.6 oz. | 4.8 inches screen, slightly harder to press, weight: 6.1 oz. | 4 in touch screen, Height 4.87 in., depth 0.3 in., width 2.31 in., weight 3.95 oz |
Buzzle, 2012
Value Proposition
Smaller end GPS devices can start anywhere between $100 - $200 depending on features and capabilities. The higher end models can run around $350 (PC mag, 2012). The proposed product would be developed to compete with the higher end models, however, not inherit the higher end pricing model. The production of the new GPS system will utilize already pioneered technology such as touchscreen, text to voice conversion, thus allowing the price to be manipulated in the consumers favor.
The price for the new, compact model of GPS will be competitively priced at $125 for the base model and $200 for the advanced model with more customizable features. The price is competitive with current brands on the market and the features are of newer technology than what is currently being offered.

Product Characteristics
Characteristics of the new GPS unit that will be appealing to the target market niche will be the sleeker design, the newer technology, and the competitive pricing. When potential customers compare the design to existing GPS units, they will find that the new GPS unit is thinner without having a smaller screen. Potential customers will also find during comparisons that the new GPS unit has faster, easier to navigate software, making the new GPS unit a smarter purchase. By pricing the new GPS unit competitively with the current brands on the market, the new GPS unit will be able to catch the attention of potential customers. A competitive analysis is a step in a company that needs to be preformed correctly before any major decisions are made. The results from a competitive analysis for NAVSTAR help the company to understand the demand and obstacles for the product. The demand will come from civilians, law enforcements, and military. The market niche for NAVSTAR is consumers that what to keep track of people or items that are important to them. Our product will offer characteristics that are different that then our competitor and attract buyers. The compact size, voice recognition instead of touch screen will be unique and a niche that will assist in the overall success for the NAVSTAR GPS System.

Reference
Commercial Assessment. (n.d.). The Global Positioning System. Retrieved December 19, 2012, from www.rand.org/content/dam/rand/pubs/monograph_reports/MR614/MR614.sec4.pdf

GPS Jammers Niche: The Best Anti-Tracking Systems Devices | Tracking Jammer. (n.d.). Tracking Jammers, GSM, GPS, LoJack Tracker Jammers. Retrieved December 19, 2012, from http://trackingjammer.com/gps-jammers-are-the-best-in-their-niche
Irving, T., Haymes, R., Perez, R., & Stephan, M. (2012, December). GPS. online: University of Phoenix.
Lendino. J.(August 30, 2012). Garmin vs. TomTom: Which GPS Should I Buy? PC Mag.com. Retrieved on December 18, 2012 from http://www.pcmag.com/article2/0,2817,2409093,00.asp
Overcoming Challenges to Transformational Space Programs: The Global Positioning System (GPS). (n.d.). The Global Positioning System (GPS). Retrieved December 19, 2012, from www.northropgrumman.com/analysis-center/paper/assets/Overcoming-Challenges-to-Trans.pdf
Palande. L. (September 12, 2011). Garmin Vs. TomTom. Buzzle.com. Retrieved on December 18, 2012 from http://www.buzzle.com/articles/garmin-vs-tomtom.html

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