Market analysisA market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.
Market researchMarket research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
Project planA project plan, according to the Project Management Body of Knowledge (PMBOK), is: "...a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among project stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be sumarized or detailed.
Market segmentationIn marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar s.
Project planningProject planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment. Project planning can be done manually or by the use of project management software. Initially, the project scope is defined and the appropriate methods for completing the project are determined. Following this step, the durations for the various tasks necessary to complete the work are listed and grouped into a work breakdown structure.
Target marketA target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind.
Project managerA project manager is a professional in the field of project management. Project managers have the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from within the heads of various departments in an organization before the problem escalates to higher authorities, as project representative.
Systems engineeringSystems engineering is an interdisciplinary field of engineering and engineering management that focuses on how to design, integrate, and manage complex systems over their life cycles. At its core, systems engineering utilizes systems thinking principles to organize this body of knowledge. The individual outcome of such efforts, an engineered system, can be defined as a combination of components that work in synergy to collectively perform a useful function.
Wearable technologyWearable technology is any technology that is designed to be used while worn. Common types of wearable technology include smartwatches and smartglasses. Wearable electronic devices are often close to or on the surface of the skin, where they detect, analyze, and transmit information such as vital signs, and/or ambient data and which allow in some cases immediate biofeedback to the wearer.
EngineeringEngineering is the practice of using natural science, mathematics, and the engineering design process to solve problems, increase efficiency and productivity, and improve systems. Modern engineering comprises many subfields which include designing and creating infrastructure, machinery, vehicles, electronics, materials, and energy. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application.
Wearable computerA wearable computer, also known as a body-borne computer, is a computing device worn on the body. The definition of 'wearable computer' may be narrow or broad, extending to smartphones or even ordinary wristwatches. Wearables may be for general use, in which case they are just a particularly small example of mobile computing. Alternatively, they may be for specialized purposes such as fitness trackers. They may incorporate special sensors such as accelerometers, heart rate monitors, or on the more advanced side, electrocardiogram (ECG) and blood oxygen saturation (SpO2) monitors.
Engineering design processThe engineering design process, also known as the engineering method, is a common series of steps that engineers use in creating functional products and processes. The process is highly iterative - parts of the process often need to be repeated many times before another can be entered - though the part(s) that get iterated and the number of such cycles in any given project may vary. It is a decision making process (often iterative) in which the basic sciences, mathematics, and engineering sciences are applied to convert resources optimally to meet a stated objective.
Engineering physicsEngineering physics, or engineering science, refers to the study of the combined disciplines of physics, mathematics, chemistry, biology, and engineering, particularly computer, nuclear, electrical, electronic, aerospace, materials or mechanical engineering. By focusing on the scientific method as a rigorous basis, it seeks ways to apply, design, and develop new solutions in engineering. Unlike traditional engineering disciplines, engineering science/physics is not necessarily confined to a particular branch of science, engineering or physics.
ProjectA project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system (work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints.
Outline of engineeringThe following outline is provided as an overview of and topical guide to engineering: Engineering is the scientific discipline and profession that applies scientific theories, mathematical methods, and empirical evidence to design, create, and analyze technological solutions cognizant of safety, human factors, physical laws, regulations, practicality, and cost.
Wear OSWear OS (also known simply as Wear and formerly Android Wear) is a version of Google's Android operating system designed for smartwatches and other wearables. By pairing with mobile phones running Android version 6.0 "Marshmallow" or newer, or iOS version 10.0 or newer with limited support from Google's pairing application, Wear OS integrates Google Assistant technology and mobile notifications into a smartwatch form factor. Wear OS supports Bluetooth, NFC, Wi-Fi, 3G, and LTE connectivity, as well as a range of features and applications.
InnovationInnovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
Software project managementSoftware project management is the process of planning and leading software projects. It is a sub-discipline of project management in which software projects are planned, implemented, monitored and controlled. In the 1970s and 1980s, the software industry grew very quickly, as computer companies quickly recognized the relatively low cost of software production compared to hardware production and circuitry.
Biological systems engineeringBiological systems engineering or Biosystems engineering is a broad-based engineering discipline with particular emphasis on non-medical biology. It can be thought of as a subset of the broader notion of biological engineering or bio-technology though not in the respects that pertain to biomedical engineering as biosystems engineering tends to focus less on medical applications than on agriculture, ecosystems, and food science. The discipline focuses broadly on environmentally sound and sustainable engineering solutions to meet societies' ecologically related needs.
