Tracking Devices in the Present World - Coursework Example

Suitcases and travel bags will be fitted with tracking devices that will pinpoint with utmost accuracy, the exact location of the bag at any different point in time. It is important and worth noting and recording that this invention is a step ahead in the technology industry by making the safety and security of travel bags easier. All it would require from a customer or the owner of the bag would be to download an application to his or her mobile phone and have the tracking process enabled henceforth.
2. The fast-casual segments
To realize maximize returns and profits, we would customize or segment the business into various parts based on demography and the behaviors of the customers. For instance, the preference of the youth relative to the tracking device and bags is different from the threat of the elderly. The rich would have their devices customized to higher pedigree and specialization, and so will the social classes be treated, based on the same criteria.
3. The devices
As a matter of fact and principle, the device is critical because it serves two outright roles and functions such as enabling the owner to gauge in advance the weight of the bag. It is needless to mention the fact that a person would be saved from the embarrassment or inconvenience of shading off extra baggage once she is at the airport in front of people. However, one would also have the added benefit of knowing the actual location of his or her bag at the airport. This comes in the wake of the fact that suitcase mix-up is common in airports, especially busy ones. Similarly, the device would enable the owner to know the weight of the bag or luggage and how much he or she would be charged in case of overload if one is at the airport. This is to ensure that the customer or the owner of the bag would be in the know in case of any eventuality. The device ensures the weight of the suitcase is checked and its location is pinpointed accurately.
4. Target customer
Given the nature of this business, our initial target market would be travelers in Qatar, where the human traffic and activity at the airport are usually high. This also stems from the fact that the prospects of travelers mixing and losing their bags are usually high in these regions. This is not to say that all other people are excluded from enjoying the services of the tracking device. Rather, if one makes a request one would be customized and availed to him or her regardless of the location.
5. Competitors
Since the devices would be imported from China, there is a chance that other firms would enter this market either as direct competitors or they would diversify their line of operations. Given that this is a new idea, other firms are likely to enter to capture clients as part of their diversification programs.
6. Competitive advantage
As the pioneers of this idea, it is worth noting and recording that we will offer high-quality devices at a relatively cheaper price. This stems from the informational backdrop that, confidence, honesty, and safety are the guiding principles and borderlines that will guide our operations.