Introduction
Inko Friendly is a company revolutionizing the printing industry. Inko Friendly is determined to save consumers from wasting money on printer ink by creating an inkless solar powered printer. This printer will be powered by the sun and harness that energy in a solar battery. Then will tan the paper with the power from the sun to create the illusion of ink on a paper. There is nothing like this product on the market, therefore this report will breakdown the printer and office supplies industry and determine if it would be a good fit for Inko Friendly. Throughout this report a couple questions will be answered.
Questions to be answered:
• How large is the printing industry?
• What is the barrier to entry like? Is it difficult of small manufacturing companies to enter the industry?
• …show more content…
First of all, the barrier to entry is not terrible. However, competition is very high. This is because of the four big competitors of the market, Canon, HP, Ricoh, and Office Depot.
Even though there is a high level of competition in this industry, there has not been a new product introduced to the printing industry in years. This is good news for Inko Friendly because their product differentiates themselves from competitors which will help it in the market against large, well-known companies.
One set back that defines most printing companies is purchasing expense. If Inko Friendly is able to manufacture their product themselves then they can maximize their gross profit. Based off of data, most companies use 56.3% of their revenue on purchasing.
Another aspect that will be beneficial for Inko Friendly is that the global market has not been explored in this industry. With the right assets and connections, Inko Friendly could do something that no printing company has done in the past. This would help Inko
Inko Friendly is a company revolutionizing the printing industry. Inko Friendly is determined to save consumers from wasting money on printer ink by creating an inkless solar powered printer. This printer will be powered by the sun and harness that energy in a solar battery. Then will tan the paper with the power from the sun to create the illusion of ink on a paper. There is nothing like this product on the market, therefore this report will breakdown the printer and office supplies industry and determine if it would be a good fit for Inko Friendly. Throughout this report a couple questions will be answered.
Questions to be answered:
• How large is the printing industry?
• What is the barrier to entry like? Is it difficult of small manufacturing companies to enter the industry?
• …show more content…
First of all, the barrier to entry is not terrible. However, competition is very high. This is because of the four big competitors of the market, Canon, HP, Ricoh, and Office Depot.
Even though there is a high level of competition in this industry, there has not been a new product introduced to the printing industry in years. This is good news for Inko Friendly because their product differentiates themselves from competitors which will help it in the market against large, well-known companies.
One set back that defines most printing companies is purchasing expense. If Inko Friendly is able to manufacture their product themselves then they can maximize their gross profit. Based off of data, most companies use 56.3% of their revenue on purchasing.
Another aspect that will be beneficial for Inko Friendly is that the global market has not been explored in this industry. With the right assets and connections, Inko Friendly could do something that no printing company has done in the past. This would help Inko