Business practice explored : folding bicycle

Suitable for all ages by its compact and convenient design, our folding bike is for those who need
to travel less than 10km, the bicycles weight only 10kg and can be unfolded and locked for use
in less than 3 minutes. With the convenience that the bicycle brings, our company has expanded
the business throughout the markets of Europe, Turkey, Israel, Canada, and USA and across the
Far East with the 2 largest markets located in Singapore and Japan. We have received many good
feedback from customers about our product, saying that it is compact and extremely convenient,
in addition to having a variety of colors and designs. Now, we are looking to expanse our market
in South America, particularly Brazil and Argentina, which are identify as the potentially most
lucrative.

11-16.
- characteristics of the target market:
most of them are low-middle class (from age 12-55)
focus most on high school and university students
they have low income but they need a mean of transportation so folding bicycle is most
appropriate for them because of its reasonable price
- wants and needs of the target market:
quality bikes at a affordable price
various styles
trendy and lightweight
comfortable and suitable for all age groups
they need a mean of transport which is cheap, convenient and easy to handle

11-17.
Friends and parents: if their friends and parents tell them something bad about our product, they
tend to find another product which is better
Social media and advertisements: there are numerous products which have better advertisements
and longer time of existence in the target market, so it’s hard for the customers to choose and
they will tend to buy the products that more people recommend and use.