It is recommended that the company should use a strong brand name in order to overcome these challenges. Considering that customers are price sensitive, it will be difficult to convince consumers to stop using cheap fluorescent and adopt LED lighting, which is expensive. Lastly, our product faces high upfront cost, thus making the final product slightly expensive.
Secondly, our products need to have the benefit of strategic uniqueness in order to prevent imitation. Some of the strategic business challenges that the company is likely to face include the ability to develop a brand name to compete with existing rival companies. The branding of the product will be based on the company’s name. The installation team is our brand benefit for retailers who do not have the installation team in their businesses. LED lighting tube installation team and installation fixture.
The LED bulbs entail different parts, viz. The product targets retail companies in the US, which are engrossed in using the LED lighting to reduce lighting costs. For instance, Long, Gosavi, Qin, and Noll (2012) argue that using LED lighting can save an estimated $52,000 for a retailer over a period of four years. Moreover, it has few maintenance requirements, it is environment-friendly, and it does not use mercury.Įven though LED bulbs are slightly more expensive than fluorescent bulbs, the advantages outweigh the disadvantages in the long term. LED lighting is more advantages than fluorescent lighting as it saves more energy in comparison (Jang, Kim & Lee, 2015). Therefore, the Beta Company can take advantage of this opportunity by offering high-quality LED bulbs technology. Today, no product has entered the market to fill this gap. Based on the recent invention and advancement in the LED technology in China, it has become possible to manufacture environment-friendly lighting bulbs. Currently, the demand for energy-saving lighting solutions is on the increase due to the irregular energy price variations courtesy of different factors.
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