Internet industry dating analysis

05-Feb-2020 03:34 by 8 Comments

Internet industry dating analysis

The effect was that Segway budgeted their product development with exaggerated beliefs of future returns on investment, which resulted in overspending on technological development that made the product expensive to purchase rather than spending the budget on their initial strategy of gaining a big customer base by trying to reduce costs of the Segway device.Poor market knowledge and therefore wrong strategic orientation.

John Doerr was so convinced of the concept that he said to the Time Magazine in 2001, that “it would become more important than the internet” (Time.com; 2001).After years of declining sales and bad financial records, the company has been sold in beginning of 2010 to the British millionaire Jimi Heselden who still was convinced of the invention.But like a tragic metaphor, after continuous losses, Jimi Heselden died the same year in September by falling of a cliff on his Segway (bbc.com, 2010). So if we take a more scientific approach to the analysis of the Segway case, then we need to define first of all if the project really was a failure as we have generically concluded above.This project took Dean Kamen over three years of patenting work and technical development together with the help of the University of Plymouth.On the third of December in 2001, the first Segway Human Transporter was unveiled on the ABC News morning program ‘Good Morning America’.The year 2001 was also accompanied by the peek of the dotcom bubble that soon was up to burst, which could explain the mindset of investors that were very high-tech oriented even though not all of them were experts in this field.

It did not take long and the hype also caught Segway Inc.The batteries last for around 16 – 39km and need 8 – 10 hours to recharge, which compared to todays standard electric bicycles, that are able to run up to 60-80km in distance with a recharge of 6 hours (uk, 2011), is quite inferior.Further, there is no common legislation for insurance, each country handles the Segway on own terms. is not focused on short- or long-term success of their product because the are ignoring the customer needs and therefore the market pull.The idea was to build this really new, technologically advanced transportation device, which would be adopted by the consumers as their ‘new’ way to get from A to B.The problem was however, that Segway has blocked out any market pull by not gaining knowledge of customer needs, market knowledge or knowledge about legitimacy issues.High acquiring price since the beginning ranging from $ 5000 – $ 7200 US dollars.