DriveU has ventured into an area that is less exploited. By developing an app that will facilitate interchangeable coverage for the driver is a step in the right direction. We aim to offer innovative solutions to challenges facing people every day. A SWOT analysis of the product shows that one of its strength is that it will be available for download on two of the world’s most popular mobile device management applications. Additionally, the product’s capability to work in any car the driver is responsible for and its compatibility with major mobile carriers makes it more attractive. A notable weakness, however, is its vulnerability to interference especially in the event the car is stolen. An opportunity exists in the form of an unexploited market that offers a huge chance for successfully doing business. There also exists the threat of new entrants into the market upon the success of the product.
The brand will operate in an extremely competitive market and therefore measures need to be taken to avoid potential pitfalls. Additionally, given that the product is at the introduction stage of its life cycle, the marketing mix should be appropriately used. The product itself will have to be of good quality, work differently and offer a service that competitors are yet to do so. A good brand name and features as demonstrated in the strength section of the SWOT analysis will go a long way in achieving this. An unexploited market also offers a good opportunity to put your mark on the sector. Promotions in the form of advertising, free trials and public promotion will facilitate this. This product is well developed to add value to this market. By being able to offer interchangeable coverage, drivers will no longer have to worry about insurance cover when operating a different car. This plus other product features will ensure that the brand is well differentiated and is at a notch higher than the competitors.
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