SWOT Analysis of Segway - Essay Example

In this regard it has strength in building its business operation since it has monopolized the mode of transport. The technology is quiet new in the market having been invented in the 2001 and hence the company has a comparative advantage in the market that there is no other company which is producing the same product. This can be viewed as a monopoly in this trade and a source of growth for the company. Their monopoly in the technology gives the company the strength of advancing further. As the pioneers of the new forms of transport, it means that the company has a prospect for growth before other company can catch up with their technology.

(Harris, 2007) The company has specialized in a new technology in the market. This is because currently it is the only company the is produced the travel wheels. This is a technological advantage since the company is only competing with the demands of the customer and not with any other company in the same market. This is strength for the business because it does not have to invest so much in research and development as a factor of competition but rather it will be as a factor of creating satisfaction of the market.

Since its inception, the company has been producing various software that is competitive with the technology in order to marketing more successful. This shows the company is investing the research and development of the new technology. (Segway, 2008) Since it was revealed the mode of transport has been gathering various kind of customer and the company has been experiencing a growing customer base. Although the device was meant for normal transport and for leisure activity especially in the tourism market, the base of customer has diversified and currently it is being used by medical patient and the police.

This means the product has been able to be accepted in markets where it was not targeted for especially the police department. It has been used by