AVA The Talking Elephant Research Paper Example | Topics and Well Written Essays - 1250 words

AVA The Talking Elephant - Research Paper Example AVA The Talking Elephant is prospective business that seeks to market unique medicine dispensers. The medical dispenser is designed for infants and toddlers. Basically, our product is a plastic elephant toy with a built in medical dispenser. It also makes encouraging sound to motivate the children. The whole idea behind this product is the challenge for parents to give medicine to infants and toddlers. The product is designed to make the medicine giving time tear free and horror free for both the parents and the children. Market research is taken as the best tools to identify the best entry behavior of the business that will enable the business to survive avoid the huge competition. This paper seeks to present the best location for the medicine dispenser business to be located and the rationale for it. The paper will also present how the business will be organized internally. It is also imperative to analyze the external market based on PESTEL analysis to identify factors likely to i nfluence the business. This is done with the intention of making the most appropriate decision required for the success of the business. It is fundamental to our business to determine where or in what specific segment and geographic location our business will be conducted. In this context we defined the babies’ accessories segment and Utah State as a part of our Arenas. With some four million babies born in the U.S. every year (Baby Center Website), the babies’ products market seems a very promoting market to start our business at. Our medicine dispenser puts us in the baby care accessories segment. Statistics show that the global sales in this segment will sum-up a total of 66.8 billion dollars by the end of 2017 (See supporting figure no.5 in appendix). Consequently, it will be easier for us to reach one million dollars as revenue in our first year in business (knowing that our initial investment was