Final report Essay Example | Topics and Well Written Essays - 750 words

Final report - probe ExampleOne of the environmental trends that affect the crossways demand is the juristic environment. As an advance(a) product, we expect to reserve rights over the product through patent rights. This prevents other people or entities from producing and transaction in a similar product. Patent right however run for a specified issue then protection of rights over innovation becomes void. During the protection period, the venture anticipates an increasing demand as the product gains popularity into the market because of limited level of competition. The legal environment exit ensure minimal competition plainly tight competition is expected after expiry of patent rights as other parties are in all probability to develop and sell similar products and demand will be expected to reduce. Trend in the legal environment that changes by legislations may also have adverse impacts on the venture should legislation be enforced to term illegalize the product on safet y and health grounds. This is because of its scope that allows electric charges into peoples bodies, a factor that may become controversial a legislation that bans the product will terminate its demand (Lamb, Hair and McDaniel 128, 155). Economic trend also affect the product because of the trends impact on peoples ability to purchase. ... Demographic factors such as level of command social class and age are other trends that affect the products demand. Level of teaching plays an important role in informing people of the safety in using the devise and together with social class empowers people towards demand. The wider scope of the products market that targets the global market extends these trends from local anaesthetic to national and global levels (Luck 56). Consumers taste and preference against the product may influence the market and limit our electromotive force to sell the product. Customer research To analyze demographics, psychographics, and purchasing behavior of the target market A capital research was necessary to understand the target market. The research implemented a qualitative research excogitate through phenomenology. Qualitative research was selected because of its scope and type of data that corresponded to the type of research that aimed at sense psychological and behavioral aspects of the target market. Phenomenology, a research design that relies on participants experience to develop an catch of their perspective was used because of its suitability for the scope of research and its ability to capture reality. Survey questionnaire was applied on a randomly selected sample of 12 participants (McNabb 147, 148, 301, 302, 308, ). The following is the applied survey questionnaire. The participants were offered the product to use for a week and the questionnaire administered to each of them. Survey Questionnaire How effective are the normal alarms in waking you up? make up you tried our product before? How effective is our product in waking people up compared to traditional alarms?