|Title||German market prospects for eEye from Miracle A/S|
|Author||Nielsen, Line (Copenhagen University College of Engineering, IHK)
|Institution||Ingeniørhøjskolen i København, IHK, DK-2750 Ballerup, Denmark|
|Thesis level||Bachelor thesis|
|Education||Bachelor of Engineering|
|Abstract||The purpose of this project is to determine the possibilities for eEye in Germany. eEye, developed by Miracle A/S, is a visualization system that enables the consumer to view the actual and the past 30 days’ consumption of electricity, water, and heating, as well as viewing the approximated costs for the energy types for the following 24 hours. The system consists of five hardware parts: energy, water, and flow meter, temperature censors, and a computer-on-module. Once the hardware is installed eEye can be downloaded as an application.
Based on the analysis finding, the target market in Germany is decided to be SMEs in Munich. Use of eEye is not obligatory as seen from the legal perspective, but it gives companies the possibility to lower their energy consumption and, also, to promote a greener profile towards their customers. An analysis of the industry reveals that the rivalry within the industry is weak when it comes to direct competitors. The TOWS model indicates that if Miracle A/S takes advantage of the opportunities and the strengths, they hold great prospects for a large market share. Furthermore, the analysis signals that creating awareness and following the development in the industry closely will help eliminate the weaknesses and avoid the threats. To create awareness Miracle A/S will, for instance, participate in the E-world trade fair in Essen, Germany, as well as seek assistance from the Danish Consulate General in Munich to find potential customers. The German business culture necessitates a profound understanding of the differences between Germany and Denmark, and therefore, a sales representative from Miracle A/S experienced in doing business with German counterparts should be appointed responsible for German customers.
The price of eEye is DKK4,899, with a profit of DKK665.70 per sold eEye. The main cost regarding eEye is the hardware. The price follows the maximum market share strategy, and therefore, the profit per sold eEye is rather low. The sales price is, though, at the same time a high price for the customers because eEye is not legally necessary or resulting in high savings on energy consumption. This will, for the time being, lower the sales expectations for eEye. The possibilities for eEye in the German market are promising and the sale of 150 eEyes will ultimo 2012 result in a profit of DKK5,708.75 and a loss in cash flow of DKK189,291.25.
|External partner||Ledere og medarbejdere i private virksomheder|
|Admin||Creation date: 2011-07-18 Update date: 2012-11-22 Source: ihk ID: ihk-10000416 Original MXD|