Creating and Marketing a new product Essay Example | Topics and Well Written Essays - 3000 words

Creating and Marketing a new product - Essay Example But on the other hand complications have also increased as we try to understand and use each of the gadgets separately. It is from these complications that we have identified a new need of getting everything available to users in a single device. The product we have come up is called ‘E-Wall’ which will help users of technology manage everything from a single place using a single device. In this report we will talk in detail about the product, marketing plan and strategy, business strategy, and operations. We will also discuss how we will establish it as a legal entity and protect the innovation from being copied by any company. We will also establish the target market of the proposed product. E-Wall E-Wall is an electronic wall that will act as a screen. This screen will display everything that a person needs to carry out his or her daily technology related operations. The screen will serve as a laptop, television, cell phone etc for users. Basically everything users wa nt will be displayed on the E-Wall and users will be able to control it through a tablet. This tablet will serve as a key board for users which they will use to change icons on the wall. The aim of the technology is to bring everything together in one place so that users can easily access it. The device will also save space as it will be placed on the wall. Only a small server will be attached to the screen to feed data into the wall. The main purpose of E-Wall is to integrate all the present technology currently being used by the people worldwide. There is a need to join them together so that users can get a single point of access. Another purpose of the product is to make everything easily available to users of technology. The idea behind E-Wall is to get everything on a single wall so that everything can be managed easily. This product will not only make access to different technologies easily. E-Wall will display everything on a large surface (wall) which will increase visibilit y and also users will be able to use everything without even moving from one place to another or without juggling different devices at the same time. E-Wall will serve as a display screen for all of the existing technology. It will just integrate existing technology into one device. A key attribute of the device is that it will allow users to access everything on the E-Wall through a touch screen tablet. This will allow mobility without compromising on size of the display or the number of technologies available. This key advantage will make this device desirable for many segments of the society. Establishing Legal Entity It is important to form a legal entity in order to operate any official business therefore we have decided to form a Limited Liability Partnership company. This is type of company offers the benefits of both corporations and partnership, and this is why we have preferred it over other forms. The most important element of this form of company is the limited liability of partners. Limited liability restricts the liability of the partners and separates personal and company assets. It is relatively safe to go for a limited liability company as personal assets are not secured in case of liquidation. The next step will be to register a name of the company and a trademark which will be used both for transaction and for marketing purposes. By registering a trademark we will also ensure that no one is able to copy our name or sign in any way. Trademark is very important in today’