PART 1: PRODUCT INTRODUCTION
a. Introduction We noticed the demand of bicycles (bikes) is relatively high due to the encouragement of the government in other to ease the traffic experience on the Irish roads. Although, we cannot overlook its own hazards, examples like accidents, loss of bicycles amongst others, which is giving the public a serious concern as well as the government. To ease their worries, we came up with electric bicycles, which will be fast, uses the pedal as well as electric control (if charged) to ease pedaling if tired. This will be called Hero Bikes. This product is the convergence of hi-tech and hybrid elements. That is, it a hybrid bicycle with hi-tech elements such that it serves any conditions – hybrid, secured - …show more content…
“The Cycle-to-work scheme enables your employees to get 1 bike and accessories up to the value of €1000 Income Tax. This shows that the government is actively investing so much in the industry (Dublin City Council 2016). With political pressure from the U.N., The Irish government will be creating new legislation to protect the cycling industry, ensuring its growth, as well as investing more money into the sustainable transport industry, the bicycle industry and into electric bikes. The figures for Dublin show that there has been a 1.5% increase in “sustainable transport users.” The government will need to do a lot more to catch up with Belgium (8%) and The Netherlands (25%) (World bank Group 2016). After suffering the international financial crisis and after the crisis in the eurozone, the Irish economy shows signs of recovery. After experiencing a growth of 1.4% in 2013, the economic dynamics recovered with strong growth in 2014 (5.2%) and 2015 (7.8%). Estimates for the end of 2016 are positive, with the growth of 4.9% is expected (IMF …show more content…
We look at their Gross Domestic Product (GDP) in relations to their Purchasing Power Parity (PPP) as well as the income inequality in other to ascertain their economic stability. Figure 3; Illustration: The GDP per capita PPP in Ireland is expected to be 52500.00 USD by the end of this quarter, according to Trading Economics global macro models and analysts’ expectations.
Source: Trading Economics (2016).
The data illustrates the relationship between the GDP and PPP which shows the purchasing power is there and a gradual growth is seen. This will be of immense benefits to Hero Bikes because the citizens have the means and capacity to purchase their needs with our product being cost effective. As for the Income Inequality, we mean to what extent is the income distribution, equally or not, and if not, to what rate. The Organisation for Economic Cooperation and Development (OECD) shared more light of it members which Ireland is included. Figure 4; Illustration: Income is defined as household disposable income in a particular year. It consists of earnings, self-employment and capital income and public cash transfers; income taxes and social security contributions paid by households are deducted.
Source: OECD
a. Introduction We noticed the demand of bicycles (bikes) is relatively high due to the encouragement of the government in other to ease the traffic experience on the Irish roads. Although, we cannot overlook its own hazards, examples like accidents, loss of bicycles amongst others, which is giving the public a serious concern as well as the government. To ease their worries, we came up with electric bicycles, which will be fast, uses the pedal as well as electric control (if charged) to ease pedaling if tired. This will be called Hero Bikes. This product is the convergence of hi-tech and hybrid elements. That is, it a hybrid bicycle with hi-tech elements such that it serves any conditions – hybrid, secured - …show more content…
“The Cycle-to-work scheme enables your employees to get 1 bike and accessories up to the value of €1000 Income Tax. This shows that the government is actively investing so much in the industry (Dublin City Council 2016). With political pressure from the U.N., The Irish government will be creating new legislation to protect the cycling industry, ensuring its growth, as well as investing more money into the sustainable transport industry, the bicycle industry and into electric bikes. The figures for Dublin show that there has been a 1.5% increase in “sustainable transport users.” The government will need to do a lot more to catch up with Belgium (8%) and The Netherlands (25%) (World bank Group 2016). After suffering the international financial crisis and after the crisis in the eurozone, the Irish economy shows signs of recovery. After experiencing a growth of 1.4% in 2013, the economic dynamics recovered with strong growth in 2014 (5.2%) and 2015 (7.8%). Estimates for the end of 2016 are positive, with the growth of 4.9% is expected (IMF …show more content…
We look at their Gross Domestic Product (GDP) in relations to their Purchasing Power Parity (PPP) as well as the income inequality in other to ascertain their economic stability. Figure 3; Illustration: The GDP per capita PPP in Ireland is expected to be 52500.00 USD by the end of this quarter, according to Trading Economics global macro models and analysts’ expectations.
Source: Trading Economics (2016).
The data illustrates the relationship between the GDP and PPP which shows the purchasing power is there and a gradual growth is seen. This will be of immense benefits to Hero Bikes because the citizens have the means and capacity to purchase their needs with our product being cost effective. As for the Income Inequality, we mean to what extent is the income distribution, equally or not, and if not, to what rate. The Organisation for Economic Cooperation and Development (OECD) shared more light of it members which Ireland is included. Figure 4; Illustration: Income is defined as household disposable income in a particular year. It consists of earnings, self-employment and capital income and public cash transfers; income taxes and social security contributions paid by households are deducted.
Source: OECD