LED Lighting Product Development and Marketing Strategies: A Business Plan for Energyled Corporation
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Date
2018
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Energyled Corporation has been doing well in low temperature LED lighting for the past several years. But due to competition and the decline in the low temperature lighting market in particular, the penetration of a second niche market is needed for the company to continue to grow even further. Deep research of the LED industry was completed and found the UV LED market would be a potential market to pursue. Therefore, a business plan is proposed for developing high quality UV-B and UV-C LED light tubes and lamps, targeting the medical phototherapy and medical sterilization of the UV lighting market. Starting from research, design and prototype making to various testings of the new product, the development of the first product is estimated to take six months to complete. Total expected cost will be NTD 1,555,000 and is expected to break even five years after product launch.
Energyled Corporation has been doing well in low temperature LED lighting for the past several years. But due to competition and the decline in the low temperature lighting market in particular, the penetration of a second niche market is needed for the company to continue to grow even further. Deep research of the LED industry was completed and found the UV LED market would be a potential market to pursue. Therefore, a business plan is proposed for developing high quality UV-B and UV-C LED light tubes and lamps, targeting the medical phototherapy and medical sterilization of the UV lighting market. Starting from research, design and prototype making to various testings of the new product, the development of the first product is estimated to take six months to complete. Total expected cost will be NTD 1,555,000 and is expected to break even five years after product launch.
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Keywords
UV, LED lighting, niche market, product development, marketing, UV, LED lighting, niche market, product development, marketing