May
29
2019

Essay: Benefits of LED technology

Sample Essay

The competitive analysis for the market of LED technology based lighting products provided that there is significant demand and therefore buyer power in the market. Similarly there also exists significant power of suppliers in the market as the technology is specialized and required specialized supply material for its components. The barriers to entry into the market however are very strong as the companies investing in these technologies have protectionist policies and patents protecting their technologies. The rivalry in the market of LED lighting products is also limited as the market is an emerging one. The benefits of the products are such that there are limited number of substitute products available, and even those which are available are too expensive for consumers when compared with LED technology based lighting products.

The business strategy of the venture is such that it seeks to use the LED lighting technology and manufacture them as well in Abu Dhabi. These products would then be sold in the regional markets forAbu Dhabipertaining to the consumers who want to light their street and parking lot spaces with the product. The core values of the operations would be to promote energy efficiency, have cost effective operations as well as provide products and services that are innovative and environmentally friendly.

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