Product Strategy
Wankan Technologies is a company that aims at taking several gaps in the current technology systems and improving them in a manner that is different to the extent that it will be able to set a new race in the technology industry. Not forgetting the fact that Wankan Technologies is a company that is aiming to target the middle class and the developing nations make it a business that has a broader market range to approach. However, in spite of the business strategy, plan and mission being well developed and more than innovative, the company still faces the challenge of being able to counter the strong mental notions that the superior technologies companies in the world have developed. This is a challenge especially Wankan Technologies is a company that aims at taking several gaps in the current technology systems and improving them in a manner that is different to the extent that it will be able to set a new race in the technology industry. Not forgetting the fact that Wankan Technologies is a company that is aiming to target the middle class and the developing nations make it a business that has a broader market range to approach. However, in spite of the business strategy, plan and mission being well developed and more than innovative, the company still faces the challenge of being able to counter the strong mental notions that the superior technologies companies in the world have developed. This is a challenge, especially in the telecommunications sector, which happens to be the central core of Wankan Technologies.
However, in spite of the many challenges, the business has an advantage in that the products being put in play are better and far too advanced to be put off as another company that aims at corrupting the society.
Benefits of the Products
Considering that Wankan Technologies is a new business in the block, it was aimed at attaining the market share it deserves by introducing something that many people have been asking for many years since the rise of cyber insecurity (Vieane, Funke, Gutzwiller, Mancuso, Sawyer & Wickens, 2016, September). Thus, the main reason that the products of this company being beneficial is the fact that they offer high-end cybersecurity across all the telecommunication devices. By applying the same technology of air-gapped computers, all the telecommunications devices will also be using the same setting where they will not be hackable in any mobile forms. Nor will they be exposed if they are connected to a given network ( Aside from that, the products also will use environmentally friendly components that makes the device safe to any ones’ immune system, unlike the currently used devices that emit levels of gamma rays. The devices will also incorporate a new technically advanced battery system that reduces the amount of heat being emitted which tends to result in some devices exploding or being damaged after a short period. Therefore, Wankan Technologies devices are nothing short of perfection and all round detailing with a touch of care for all our customer’s financial positions and physical health.
Managing the Expectations
It is ubiquitous for any project, business, or company to have some levels of disappointment when it has set its expectations. However, the best way of managing any forms of disappointments would be by ensuring that all the risks have been identified and the needed risk management policies put in place as well as risk mitigations strategies. Therefore, for Wankan Technologies to reduce such events, these two risk techniques will be applied across all the different telecommunications departments. Other than that, the business will also set up a separate section of the company to be responsible for testing and evaluating every component before assembly, and after the finished good has been developed. This will reduce the gaps between expected and perceived service to satisfy customers. The selling of the products will also come with a company warranty that will ensure that all the customers are covered in case of any forms of malfunctions or challenges arise. Wankan Technologies also aims at setting up customer care shops where the customers can be offered ready, face-to-face assistance on anything from repairs, replacements of phones or upgrades. Therefore, for this strategy to kick off the internal campaign, marketing happens to be the best means because of the current advancements in social networking (Varma, Patil & Ulle, 2018).
Pricing Strategy
Aside from the fact that the business is aiming to be a leading cybersecurity leader in the telecommunications sector, there are also other goals that the Wankan Company aims at winning over. Thus, the principal pricing objectives happen to be:
ϖ Maximizing long-run profit
ϖ Increase market share
ϖ Company growth
ϖ Increase sales volume
As much as the goals mentioned above happen to be inline with Wankan technologies vision and mission, the promote pricing objective of the company happens to be increasing the market share since this has a direct impact on the expansion and growth of the company among other benefits. This is vital since it will make the company be able to have a more global reach which will, later on, allow the business to be a more general business as well as a result in the industry also targeting developed markets. When it comes to the pricing rates, the customers will be more than welcome to the products since they will be essential and meaningful considering that the devices will be offering technology and services that are not affordable to attain across any other telecommunications company. This makes it possible for the customers to see the pricing as accessible and meaningful. As a result of this, the demand for the commodities will be elastic since this will result in the market share and demand grows over time.
When it comes to the price adaptation, the business cannot offer discounts considering that the prices of the devices are already friendly, so, the best pricing adaptation strategy to apply would be developing a marketing product line (Fahy & Jobber, 2015). This move will allow people of different preferences as well as customer customers to have what they would want at a more fitting price.