New product development, Magical Mirror, Business strategy formulation

January 2017 | 9 pages | ID: NA9B345BDFBEN
Sadia Saeed

Abstracts

The project is about introduction of “magic mirror, it’s a magical mirror in a sense that the mirror will scan the face of the user and then the appropriate make up is suggested by the mirror. Now a days the technology is prevailing everywhere and same is the case with the field of beauty and technology. People are increasingly becoming conscious of how they look and they have a desire to look best. This product is developed by using high level technology that is actually a TV like screen and it has various options, when you will look into it you can try different kind of makeup and check what looks best on you. The development of a mirror that allows the user to check various kinds of makeup, like eyeliner, blush on, lipsticks and different hair colors by scanning their face. This will give the users an idea that how a particular make up will look on them and this will make their decision better and allows them to use the best kind of makeover. Cont... (2000 words of this report)

Contents

Task
Business-Level Strategy
Business level Strategy
Cost leadership
Differentiatio
Focused Cost
Focused Differentiation
Mixed strategy
Porter’s Five Forces Model
Rivalry in the firms
New entrants Threat
Bargaining Power of buyers
Threat of substitute products
The Business Strategy for magic Mirror
Risks Associated with business strategy
Task
Corporate-Level Strategy
Corporate Level Strategy
Low level
Moderate level to high level
High Diversification
Reasons for selection of high level diversification strategy
Conclusion
References