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Introduction of Companies
- Describe your new company called Universal Drones Inc. The world of the 21st century is impossible to imagine without people being engaged in all kinds of technological advancements and globalization. Hence, to secure the steady growth of one’s business, it is of crucial importance to closely examine the aspects of gaining recognition in today’s society. One of the most rapidly growing technology markets today is the commercial drones market, allowing civilians to experience new ways of capturing the environment (Maharana, 2017). In order to make the drones even more accessible, Universal Drones Inc. was formed. The company’s vision implies making people look at things from various perspectives through technology. Universal Drones Inc. is primarily focused on people who want to interact with the environment in order to create, whether they are artists or ecological activists. The product line includes a series of drones with different pricing and enhancement politics, created by the best engineers from all over the world.
- Describe VectorCal. VectorCal is now of the major developments in the field of drone navigation systems implying the technology’s accessibility for a broad audience. The product’s major mission correlates with the corporation’s desire to make drones part and parcel of people’s everyday life. The VectorCal’s vision of the product is to provide customers with the products on the shortest notice with the help of implementing automated technology for the drone assembly. Since the key personnel would then include engineers who would be responsible for the assembly process, the pricing policy of the drone would allow expanding the product’s target audience to middle-class representatives.
Pricing Analysis Methods When Forecasting Government Expenses
Until recently, enterprises like Universal Drones Inc. were considered the monopolists of the drone market due to the lack of healthy competition. Hence, the pricing policy of the company’s deliverables was quite unreasonable, as the company’s stakeholders did not feel the urge to apply proper pricing analysis strategies such as the market price comparison. However, over the past years, the overall market revenue and market availability have drawn the attention of many investors and business owners who now want to become a part of the tendency (Otto et al., 2018). Hence, when forecasting prices with the Government, it is of crucial importance to take into account the segment’s environment and proper resource allocation that would allow to attract a bigger audience and increase revenue. When doing so, the comparison of market prices would play the primary role due to the scope of competition in the emerging market.
- Discuss the following costs that your company, Universal Drones, Inc.s needs to adder during your first year of operations.
- Remember to provide a rationale for each of these costs. Semi-variable costs are one of the most crucial in terms of the first year of operations due to the constant variations in the product’s initial cost and its further development in terms of automation (Dawid, 2016). Hence, examples of such expenses include service maintenance, which has a fixed minimum cost with some extra situational payment. The segment of the allocated costs would certainly consider the departments engaged in manufacturing, e.g., project management, sales, and fabrication. Speaking of indirect costs in general, major attention would be paid to the variables, as the product would be in the developmental stage.
In the context of today’s capitalistic model, the issue of the free market has become one of the most discussed yet demanding in terms of planning. Thus, the navigation drone market is now one of the most popular and rapid-growing in the technology segment throughout the world. Universal Drones Inc., being one of the major manufacturers in the field, has not been recently paying attention to the peculiarities of market distribution and deliverable cost allocation, leaving itself at a significant disadvantage. Hence, in order to remain relevant, it is necessary to reconsider one’s manufacturing patterns and pricing policies in terms of the target audience.
Maharana, S. (2017). Commercial drones. In Proceedings of IRF International Conference, Mumbai, India.
Otto, A., Agatz, N., Campbell, J., Golden, B., & Pesch, E. (2018). Optimization approaches for civil applications of unmanned aerial vehicles (UAVs) or aerial drones: A survey. Networks, 72(4), 411-458.
Dawid, R., McMillan, D., & Revie, M. (2016). Time series semi-markov decision process with variable costs for maintenance planning. In European Safety and Reliability Conference ESREL 2016, 183.
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