Smart Card LLC Case Study
The management team has done enough in identifying the size of the market. It has already identified the possible users of the smartcard LLC model. According to the management team, the market of the LLC program include the various retailers of various goods and survives and also the various industries. This market is very wide. The retailers all over the world are very many as well as the industries. In most of the cases, this is the market that needs the application due to the fact that they need to understand the behaviors of their customers so as to make appropriate plans for their organizations. In addition, the management team has specified the specific users of the LLC program. They include the managers of various businesses, the salespeople and the promoters of the products and services (Kaplan, 2010). Generally, this is the market that is most likely to use the smartcard LLC program due to the fact that the services of the product are very important for these organizations. However, there are various many users who would be identified if more research was carried out.
There are service providers such as schools, hospitals and law firms that can benefit from the Smart card. This is because this group also needs to get information about their customers but have not been targeted by the management team. However, this group does not need the smartcard LLM program mostly because the demand of their services does not vary so much with time. Therefore predicting the customer behavior may not be very complex to the extent that the application may be a necessity.
Generally, the service providers such as law firms, hospitals and schools needs to know who are their customers, when they demand the services most and what kind of services they seek for. This is important for better planning of these firms. It helps them the necessary resources so that they can provide their services when necessary and ensure satisfied customers and also ensure that they get maximum profits when the demand is very high. Even though the use of the card may not be highly be demanded by this group, some of these service providers may find it necessary to use the smartcard LLC program. Generally, the management team has done a lot in finding out the market for their smart card LLC program but they have still left out a big portion of their potential market (Kaplan, 2010).
There are various factors that make the smartcard LLC application attractive. In the first place, the card helps the organizations to acquire financial assistance when necessary. The reputation of businesses using the card improves and therefore they can assess more financial assistance. The management of the organization improves with the use of smartcard LLC program. This is mainly because with the card, information about the customers' habits is obtained. In this regard, the management is able to make informed decisions regarding their institutions and the appropriateness of the decisions ensures success of the organization.
Salesmen also benefit from the smartcard LLC program. Generally, the program helps the salesmen to target the specific groups of organizations and people who are likely to buy their products. Therefore unnecessary efforts by the sales people are avoided. Promotion activities become more effective. It will be realized that promotion activities are very important in that they determine whether the products by a certain business will be bought or not. In this regard, the smartcard LLC program helps to determine when the promotion program will work best and when it is necessary (Attali, 2010). Simply, the LLC program helps organization to avoid wasteful marketing strategies by ensuring that they advertise for the right people and at the right time.
There are however various disadvantages of LLC program to the organizations. In the first place, the use of the program requires a specialist who may be an extra cost to the organizations. The other issue is that the use of the smartcard is limited. It does not have various uses to the clients who use them. It should also be noted that the program can only be used for certain duration of time after which it expires and hence cannot be used. In this regard, it means that the use of LLC program involves expenses now and then.
One of the major external threats of the smartcard LLC program model is the internet. The internet can be used to collect information that the card is intended to collect. Furthermore, the internet is bale to cover more customers and less expensive as compared to the smartcard. It does not require a specialist and does not expire after some time. In summary the internet can serve the purpose of the smartcard LLC model at cheaper costs. Another major threat is that there are other companies providing similar cards. All these companies target the same market. This means that the competition is very high and this can lead to failure of the smartcard LLC program in the market (Goldberg, 2010). Generally, the application faces many threats in the market which makes it difficult to predict its success in the market.
According to the information provided in the case study, I would be comfortable investing in the company. The future of the company looks attractive considering the fact that the services of the smartcard LLC program are very important for various businesses. The LLM program is also more reliable as compared to other competitors and therefore it has greater chances of surviving in the competitive market. The costs of using the program are also low and this will attract many customers of the program. There are many potential customers of the company which means there are very high chances that the profitability of the company will be high. This is why I would invest in the company.
Kaplan, J. M., & Warren, A. C. (2010). Patterns of entrepreneurship management. Hoboken, N.J: Wiley.
Attali, I., & Jensen, T. (2001). Java on Smart Cards: Programming and Security. Berlin: Springer-Verlag Berlin Heidelberg.
Goldberg, M., Palladini, E., & Banque mondiale. (2010). Managing risk and creating value with microfinance. Washington, D.C: World Bank.