My chosen product Essay Example for Free

My chosen product EssayMy chosen product is a Philips Plasma Screen TV. This is my debone analysis for this electronic product. Strengths Flat screen plasma TVs argon becoming increasingly popular and as this certain product includes stand and speakers as standard import its a bargain. Weakness There argon a large range of different plasma screens available meaning customers are spoilt for choice. This includes rival with rival plasma producers altogether competing to be sold. Opportunities Philips are continually producing new quality stands and screens allowing them to offer more products to potential buyers. Threats Competition posed to Philips by other large musical arrangements such as Sony are the biggest threat. This is payable to them both competing for a large share of the same market. Section 4 Stakeholders Richer sounds principal(prenominal) stakeholders are Customers are existing customers. They have a relationship with the agreement as their link is that the y buy the products or the services. Employees imprecate on the cable for employment so therefore have a relationship with the business. Suppliers take orders from the business qualification sales, this they are stakeholders.Sponsors (of the organisation) pay money to associate the name of their product or business with an type or person. The bankers of the business lend money to company therefore making them an important stakeholder within the organisation. exclusively the above stakeholders are interested in the business as they rely on their activities and trades to financial backing their organisation running. An example of this is suppliers, without taking orders from the business they will not make any profit, which may lead the organisation to shut down. M2When businesses are faced with concerned stakeholders, they have a choice of either taking action, or not. The decision taken will usually depend on the power of the stakeholder group, the issue the group has raised, o r the effect of any action taken upon other stakeholder groups. As every business has a main aim to survive, its usually sensible for businesss to respond to stakeholders concerns. Lack of consideration may lead to boycotts, which will lessen profits. An example of this is when Greenpeace called for a boycott of Shell petrol with the result of sales falling by nearly 50%.This is also a problem for Richer Sounds as its part of the large sound and vision market, meaning loss of profit may cause Richer Sounds to fall and sprain bottom of the market. If this happened Richer Sounds competitors would have an increased profit, making it harder for Richer Sounds to recover. However if the organisation chooses to do nothing about the issue it may at times pervert the business by boycotts which eventually lead to profit lose. Taking action against these concerns may benefit the business, so far bearing that no business will ever be able to please all its stakeholders all the time.If Rich er Sounds was faced with this problem, they could choose to either face or sort the problem, or to ignore it. In my opinion, Richer Sounds should tackle and face the problem, because consequences could be fatal (such as boycotts). An example of this was when Greenpeace boycotted Shells Fuel organisation, resulting in loss of approximately 50% in profit. Richer Sounds keeps up very well with changing technology thusly it must also keep up with all other external influences such as, economical factors. Richer sounds are affected by a range of economical factors including exchange rates.This is due to the fact that Richer Sounds buys a large share of their stock abroad. When Richer Sounds makes purchases draw Europe, the price usually depends on the value of the pound relating in relation to the euro. Richer Sounds always benefits if the pound is stronger, thus the goods cost less. However if the pound is falling in value, Richer sounds so have to take this into consideration as th e goods are then more expensive. Richer sounds might successfully adapt its activities, by simply watching the changes in money rates and the strength of the pound to the euro.Another factor that also affects Richer sounds is the take aim of prices. If the general level of prices increases, then Richer sounds will be forced to increase there prices as well. When prices are increased then competition also gets heated. However, the prices of electrical goods have fallen over the last few years, thus allowing Richer sounds to become more competitive then ever. To help combat these problems Richer Sounds may choose to keep record of the prices and sales, as it may help them predict whether the prices of certain products may increase or decrease.