Annual units-brand entering growing but competitive market

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Reference no: EM133736033

Question

Annual units sold: Our estimate for annual units sold is 500,000 for a new brand entering the growing but competitive market. However, if an established brand like Bosch were to produce a new product in their existing lineup, we estimate sales to be around 1 million units. This estimation is based on market research and industry trends showing a growing demand for power screwdrivers in the DIY and home improvement markets. Sales price: Based on market prices for similar products, we estimate the sales price to be $85 per item. This pricing strategy takes into account the competitive nature of the market and the need to offer a competitive price while maintaining profitability. Development time: We estimate the development time for the power screwdriver to be 1.5 years. This estimation is based on the complexity of designing and developing a new electric motor, which is a key component of the power screwdriver. Assuming the electric motor is the most complex component to design and develop especially if innovating with longer battery length or adjustable torque. The development process includes designing, prototyping, testing, and refining the product to meet quality and performance standards. Size of development team: We estimate the size.

Reference no: EM133736033

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