Engineering management Coursework Example | Topics and Well Written Essays - 2500 words

Engineering management - Coursework Example That is, desktops computers have been used for long periods of time for various purposes which range from personal to corporate (Charles 2002). Even though the use of desktops has been on decline as media of communication since the advent of laptops, iPhones, tables and mobile phones, they are still being employed in various communications as media through which communication is conveyed (Charles 2002). Normally, communication involves exchange of ideas between individuals. At times, the individuals communicate amongst themselves through live chats and through video links. The use video links in communication is only possible if the computer being used in communication is either installed with either external or internal web cameras (Shortened as webcams). Regardless of the fact the desktop computers have played important roles in conveying communication, their monitors are normally not installed with internal web cameras (Charles 2002). This has forced the users of desktop computers acquire external webcams or dispose their desktops for laptops. The costs incurred in acquiring external webcams or laptops may be high depending on a user’s economic and social status. It is therefore important that an extension is done to the desktop monitors such that they are pre-installed with internal webcams. ... Aspects to be considered while carrying market analysis for the modified computer monitors It is important to carry out extensive analysis of the market before the final modified product (computer monitors installed with internal web cameras) is released into the market. If the products are modified, manufactured and released into the market without carrying market analysis on the perception of the customers, customers may reject the modified product (Chryssides & Kaler 1996). The cost of rejecting this modified product may severe to the organization due to the fact that products have already found their way into the market (Cole & Kelly 2011). The factors that should be considered while analyzing market for proposed modified computer desktop are as stated below. i. Size of the current computer monitor market. ii. Market trends associated with computer monitors. iii. Customers’ likely perceptions of the customers with regard to the proposed extension on the computer monitors. iv. The performance of products being offered by the competitors, and likely actions to be taken by the competitors with regard to the proposed modification of the computer monitors. (Chryssides & Kaler 1996) The size of the current computer monitors market One of the most important factors that should always be considered while carrying out market analysis is the market size of the current products being produced by an organization. Market size can be defined as the volume or quantities of product consumers have both ability and willingness to buy (Chryssides & Kaler 1996). Typically, market size depends on both consumer’s ordinary demand as well as quantity of a good the consumers (customers) are willing to buy. It