Industry :
Industry The industry contains anything dealing with an iPod and iPod accessories. This industry also includes all the applications for the iPhone/iTouch.
There accessories like iTrips and plug-ins which allows the user to listen to their iPod through the radio.
We have to deal with similar items like a wireless iTrip.
Targeted Market :
Targeted Market People that enjoy music
Apple
People with iPhone/iTouch
Drivers who enjoy listening to their iPod
Marketing Research :
Marketing Research Research Apple and how their application business is doing
Make surveys and ask people if they would be interested in this application
Research products that have similarities to our application.
Browse and research all applications apple has come out with and how they are able to work.
Competition :
Competition Microsoft's Zune
It has the wireless sync feature that allows the Zune to connect to a home’s wireless network and connect with a computer with out a cable.
But the Zune does not have to feature to connect to a radio signal
Any other MP3 players
Sony X-Series Walkman
SanDisk Sansa Clip+
Samsung P3
Barriers to Entry :
Barriers to Entry Barriers to Entry
Have to pay to be a certified developer
Have to get application approved
Having enough capital
Having the Resources to develop the Application
Economy
Risks :
Risks Internal
Not enough capital to maintain and develop the application
That application will not be developed within desired time
External
Copyright Infringement
Product is not desirable
Insurance Plan
Product Liability Insurance
Professional Liability Insurance
Copyright Infringement Insurance
Contingency Plan
Try to sell the idea to apple or a developer