Business Plan on "Export Business Plan"

Business Plan 4 pages (1363 words) Sources: 4

[EXCERPT] . . . .

Export Business Plan

International expansion has been a long-term goal of Infotech since its inception in 1995. Infotech developed and successfully marketed a "brain teaser" electronic game that helps individuals with short-term memory loss to remember current events and pertinent data and is now available in a hand held personal game device. The game has since expanded in scope to include anyone who seeks to challenge their mind, daily to retain memory skills. The game's success is largely associated with new research that indicates that the brain benefits from constant use and exercise, just like the muscles of the body. (Fahey & De Los Santos, 2002, p. 330) the current expansion of scope has allowed the company to seek international expansion, due to increased revenue. Expansion to the international market will begin in Canada, as this will limit language and content changes to the game and due to the longstanding relatively open trade policies between Canada and the U.S.

Description of Product:

Infotech, BrainTrain is a hand held memory recall game that encompasses two game formats. The game can be used by all ages, as the simpler games in the system require no reading skills and rely on shape, color, size and image memory games, similar to variations on the popular card game memory, with the addition of dimension puzzles. The second aspect of the game system is a current event memory game, which can be updated utilizing any internet connected computer with BrainTrain software and a USP cord, which users use to log on to the BrainTrain website and upload current question data. Questions range from simple to complex and the game is a basic trivia game that includes pertinent pop culture as well as name recognition and event data specific to national and international events, from the last 20 years. The updates to the game require a nominal purchase of a subscription to BrainTrain Update, which comes free for the first year and then requires purchase, for $6.95 (U.S.) annually thereafter. The funds are used to fund the website support demands and also help the company track usage and information about the kinds of information users find most interesting, as users can leave comments and requests and engage in a blog, which often demonstrates testimonials about the product. The nominal subscription also helps the company track attrition, to better understand the market and determine if and when new game data and/or upgrades to the game need to be done. A Canadian version of the game has already been developed, as customers in Canada have purchased the game in the U.S. And asked for inclusion in content. This system will be expanded to mirror the U.S. based game offerings. French and English language versions are already available in both the U.S. And Canadian support uploads, as is Spanish. (Ball et al., 2005, p. 485)

Characteristics of Target Market:

The Canadian market is one of the U.S.'s largest trade partners and trade has currently been expanded as a result of the North American Free Trade Agreement. (Ball et al., 2005, p. 20) Canada has recently transitioned to an urban tech culture and economy and has patterned growth in technology purchasing and sales. Many Canadians find interest in tech products and developments that support current trend data.

GNP/Capita $31,500 purchasing power parity (CIA World Factbook "Canada," 2005, NP)

GNP/Capita Growth Rate 2.4% (CIA World Factbook "Canada," 2005, NP)

Population of the nation is 32,805,041 with a median age of 38.54 years, which would indicate that the market for such a product would include at least 5 million.

Market Screening:

The market screening for this product in Canada began with the frequent request on the website to offer Canadian-based updates for the game, and with a frequent request for French game information. The expansion to international sales in Canada then became a logical outgrowth of this unsolicited desire for Canadian support.

Basic Need Potential:

As Canada is currently experiencing significant growth in technology interest the basic need potential is likely to be very high for a product like this. The expansion of the… READ MORE

How to Reference "Export Business Plan" Business Plan in a Bibliography

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