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Sample of school work: Innovation

commercialization Project Porters five forces


analysis
Grade: 85%
Porters Five Overall
Forces Rating
Threat of High
substitutes

Analysis & Justification

Threat of High
potential
entrants

Bargaining Low
power of
suppliers

Bargaining Medium
power of
buyers

Degree of Low

Threat of substitutes is high in the long-term


Just like the case with hoverboard from Razor, where
Swagway (Kieler, 2015) was accused of infringing the
patents of Razor hoverboards.
However, the MyWheel can count on the first mover
advantage to dominate the market for some time.
The industry is very attractive for outsiders in the
technology industry.
There is a high barrier to entry in the industry due to
the cost of innovation and time required for research
and development. The start-up costs are high due to
the nature of innovation.
In addition, the patent rights may hinder entry of new
players (Pehrsson, 2004).
MyWheel will also enjoy a first mover advantage for
some time and that can come with sustainable brand
loyalty if there is superior quality and strategic brand
positioning (Zhan, 1999).
Due to competition, the supplier cannot increase the
prices of the supplies at will or regularly.
Although the product is a result of collaboration with
two firms, they have a high bargaining power on the
product.
The customers are not concentrated to one market
segment, so the company can have multiple income
streams.
Although it is a luxury product to some extent, the
customer base is till fragmented hence losing buyer
power (Pehrsson, 2004).
Innovation, R&D and patents increased the barrier to

existing
rivalry

entry.
Since innovation costs are also high, exit barriers are
also high.
Since we have first mover advantage, there are no
competing firms with similar substitutes.
After the safety failure of hoverboards, demand for
Mywheel is set to increase as an alternative product.

Sample of school work: Innovation


commercialization Project Key opportunities and
threats to the projects success
Opportunities:
- Innovation and technology:
MyWheel is an innovative product that has not been released to the market
before. It combines various technological applications in the automobile and map
applications to enable personal mobility at a great convenience. It will enable
users to access areas that were difficult to reach, increase their independence
during movement and comfort. As a result, it is expected to have high
acceptability in the market.
-

Increased awareness about disability rights:


The product can be accepted on large scale in areas such as airports, buildings,
offices and other institutions to aid movement of physically disabled persons due
to convenience and usability.

Partnership:
Enhancing market penetration by establishing partnerships with airports (to help
users that need to use them on airports) and distributors in medical supplies.

Mobility through technology:


Increased mobility especially for disabled persons is expected to trigger
popularity in the market.

Threats:
-

Age & Market Acceptability:


The use of sophisticated technology may hinder acceptability by the elder people
as they are the largest group of people with disabilities.

Imitation:
If the product is easy to imitate, competitors can choose to improve or present it
as a substitute in the market.

Small Size Company:


The company is small and is venturing into an innovation that is in the
commercialization stage. So it is costly to run operations on its own and may not
enjoy economies of scale that come with large operations. This will increase
operation costs.

Sample of school work: Innovation


commercialization Project Sustainable
competitive advantage
Value to customers:
Independent and personal mobility has remained a challenge for many people
especially those living with disabilities. Those using wheelchairs have to rely on
the services or goodwill of another person for direction and monitoring. Personal
mobility wheelchair will add significant value to the lives of people in that market
segment. Building a product that adds value to the consumers will guarantee
brand loyalty for the product and company for many years. As customers needs
evolve, the company has to innovate rapidly to add value to its product to meet
the demands.
Inimitable:
To keep away competition and make the cost of entering the industry high, the
company must register its patents to seal any chances of IP infringement (Kumar,
Rahman & Kazmi, 2016). Apple Inc. is known for its strong patent protection, and
which has seen it dominate the market with the Iphone product line. Similarly, the
company should invest more into research and innovation to ensure that it keeps
the industry secret.
Consolidating the Industry:
This is driven by ability to form strategic alliances with key stakeholders that have
high power and high interest on the product. Consolidation can be achieved
through strategic alliances with suppliers, distributors and key players in the
industry to access their resources and control the supply chain (Kumar, Rahman
& Kazmi, 2016). Vertical integration with the government, airports and hospitals
will also heighten the market penetration and survival of the product. Industry
consolidation enables the firm access resources and markets.

Sample of school work: Innovation


commercialization Project Go-to-market strategy
The release of MyWheel should coincide with dates or periods that awareness on
mobility, rights of physically challenged persons or use of technology in medical field are
ongoing (Zhan, 1999). As a result, the product can be celebrated as a great milestone in
the use of technology to enhance independent or personal mobility. MyWheel will be
patented, and users will be able to charge their wheelchairs at home.
MyWheel should use market skimming strategy to enter the market. It should
take advantage of the first mover advantage to set pricing trend in the market. When it
uses market penetration strategy, it will be difficult to increase prices in the future when
the costs of production are too high (Pehrsson, 2004).
MyWheel should use alliance with distributors as the main strategy for
distributing the product in a form of B2B model. The alliance will include equipping the
salespeople with knowhow on how to use the wheelchair. In return, the company can
provide the selected distributor with stake in products success or exclusivity contract to
motivate them to promote more. These bundling relationships can also be utilized for
marketing.
Marketing strategy for entering the market is promoting free trials and training for
prospective customers. MyWheel is a new product relying on technology for mobility,
and therefore, the company must create interest through aggressive advertising inviting
customers to try out the product, know their requirements to place an order. This can be
achieved by organizing expos and exhibitions for MyWheel.

Sample of school work: Money management report


for William Lo Letter of transmittal
Grade: 80%
Mr. William Lo
295 Adelaide Street West
Toronto, Ontario
M5V 1P7
Dear Mr. Lo,
I am grateful to submit my final report on developing your personal money
management plan and it is concluded that you would not have to worry about
spending over your monthly income ($900) if you spend within the expected
expense calculated in the report.
I would like to take this opportunity to thank you for assisting me on the research of
this

report.

You

provided

great

effort

and

dedication

on

completing

the

questionnaire, and that helped a lot on making sure everything suits your needs. I
also appreciate your patience and time on answering my questions regarding your
personal habits. It would not have been possible to finish this report without your
assistance.
However, I believe that I will have to recalculate the budget and make changes to
the report if there are any changes on your weekly schedule, mobile and internet
service contracts, and choice of transportation. I genuinely hope that you will find
this report helpful by having a better insight on investigating your expenses.
I would be pleased to discuss about the report with you in detail. Please contact me
at +16478670073 or tiffany.lo@ryerosn.ca if you have any questions. I am pleased
to have participated in this report.

Yours Sincerely,
Tiffany Lo

Sample of school work: Money management report


for William Lo Findings Grocery expenses

Williams monthly grocery expense is listed in the following table:


Grocery Expenses
Meat and seafood

Price($)

Quant

Total($

0.5 kg
1pc

$7.71
$6.99

ity
3
4

)
$23.13
$27.96

1pack (500g)
1 pack (375g)

$5.99
$5.49

3
2

$17.97
$10.98

sausages
Atlantic salmon
PC chicken wings
PC free from angus beef

113g
0.5kg
1.02kg

$4.99
$7.71
$14.99

4
2
1

$19.96
$15.42
$14.99

burger
Chicken breast fillets
Grain fed veal loin chops
Schneider ham

0.38kg
0.5kg
800g

$8.79
$11.01
$14.49

Ground beef
Maple Leaf prime stuffed
breaded chicken
PC bacon
Johnsonville smoked

Bakery
Wonder bread, whole wheat

Price($)
675g

Diary and eggs


Neilson TruTaste 1% milk
Philadelphia cream cheese
PC eggs (large)

Price($)
2L
227g
12 eggs

Drinks
Tropicana pure premium

$2.99

$4.59
$3.49
$5.29
Price($)

2.63L

$7.79

2
2
2
Total:
Quant

$17.58
$22.02
$29.98
$199.99
Total($

ity
)
4
$11.96
Total: $11.96
Quant Total($
ity
)
4
$18.36
1
$3.49
2
$10.58
Total: $32.43
Quant Total($
ity
4

)
$31.16

orange juice
Pantry

Price($)

Total: $31.16
Quant Total($

Barilla

454g

$2.39

ity
2

)
$4.78

linguine/Penne/Rotini/Shells
Nissin Demae ramen instant

100g

$0.89

$5.34

650ml
398ml

$2.99
$1.79

2
4

noodles
Classico sauce
Heinz beans

$5.98
$7.16
Total: $23.26

Fruits and vegetables


Broccoli
Iceberg lettuce
Yu chog sum
Baby bok choy
Vine tomatoes
Bananas
PC white mushrooms

Price($)
1 each
1 each
1 pack
1 pack
1 bunch
1 bunch
227g

Household supplies
Royale toilet paper

$2.99
$3.29
$3.57
$3.07
$5.44
$1.82
$2.69
Price($)

12 each

Quant

Total($

ity
)
1
$2.99
1
$3.29
1
$3.57
1
$3.07
2
$10.88
4
$7.28
3
$8.07
Total: $39.15
Quant Total($

ity
)
1
$11.49
Total: $11.49
Total Grocery Expense: $349.44
$11.49

Table 3.3.1 (Loblaws, Inc., 2016)

Sample of school work: Money management report


for William Lo Analysis
Based on the calculations of different expenses in Section 3.0 Findings, the following
interprets and sums up the main analysis of the research.

Based on Table 3.5, the total expected expense is $865.14, which is less than
the stated monthly income ($900). Therefore if William follows this money
management plan and spent exactly or less than the expected amount of
money budgeted, he will be able to keep within budget.

It is noted that almost half of the total expense (47%) is spent on living
essentials, while household, and lifestyle expenses make up 20% and 19% of

the total expense respectively.


However, since data of the prices of the grocery items are collected at their
regular prices and it is possible that some of the items will be on sale when
he purchases them, it is likely that William will be spending less than $408.15

on grocery and personal care products.


Although the second large expense is the household expense, there is

nothing William can do with it as he is paying those services under contracts.


Based on the Lunching Out Options table (table 3.4.1), the prices of the
selected meals are in an approximate range of $7 to $16. The lunching out
expense is derived by multiplying the average price of those selected meals
by the approximate number of days of lunching out. Therefore the lifestyle
expense will be lower if William eats get food courts and fast food
restaurants.