Swot Analysis of Elderly Phones Coursework Example | Topics and Well Written Essays - 500 words

Swot Analysis of Elderly Phones - Coursework Example The company will also have a wider market to sell these phones. Many companies in the modern world are keen in making products that satisfy the demand of the young generation. The company specializing with the manufacture of phones for elderly people will thus enjoy a large untapped market (Hm 2009, p.156). Though the company will have all the above mentioned competitive advantages, it will also face an enormous barrier in its attempt to advertise it new product. Most companies now days are using social media to advertise their product. It will be an ineffective channel to be used by a company dealing with products demanded by customers of +55 years and above. This is because the majority of curly users are youths (Lesley & Wing 2003, p. 189). It only a small proportion of the old generation that uses curly. In case the companies unknowingly select prices viewed as unfavorable by the customers, then their products will almost lose all its customers. Old people are price sensitive. In case they feel that the price set for a commodity is high, they will shift to other cheaper commodities (Lesley & Wing, 2003, p. 225).Elderly people are also too rigid. In case the company happens to make a mistake in its process of Being the first company to identify such a unique market gap, it will create a large market share. This is due to the fact that the company will gain customers trust before other companies’ entry. The trust created will give the company a cutting edge in the market (Lesley & Wing 2003, p. 421). This may scare away other companies willing to enter the market thus giving the initial company room to be the sole supplier of the brand to the market. The company also has a chance to expand its product to other technology. After capturing it initial target market, the company has a chance to develop other product line to serve