Question

1. What do you see as the key factors for being a successful competitor in the wearable video camera segment? List at least three.
2. What do you see as the key factors for being a successful competitor in the UAV drone segment? List at least three.

Answer 1

Ans: The key factors for being a successful competitor in the wearable video camera segment are:

I. Be Flexible:

The competing firm should make the product more flexible than other firms who are in wearable video camera segment.

II. Long term and Short term trends:

for a company emerging new in niche market, some long term trends will not matter as much as short term trend will matter. The companies which are smart enough look at both long and short term trends.

III. Always keep a purpose:

smart businesses always analyze the competition. But this should never be the end in itself; rather, companies must maintain a focus on the purpose of the analyses. the main purpose should be clearly defined like the main purpose of wearable video camera is to record video through a small device which is wearable.

Ans: The key factors for being a successful competitor in the UAV drone segment are:

I. Price:

Price is the most important factor for being a successful competitor in the UAV drone segment. Price of UAV drones are very high so firms competing should try to lower the price of their product.

II. Ease of use:

The UAV drone should be easy to use means that the functions and installation should be easily understandable by the people.

III. Camera and Lens quality:

The camera and lens quality should be of best quality and should be latest so that pictures appear to be more clear. This means that high pixel camera should be used.