5.0 ALTERNATIVE STRATEGIES OF IONTECH SDN BHD

The alternative strategy used by IonTech Sdn Bhd is the intensive strategy. It emphasizes on product development and market development.

5.1 Product Development

Firstly, product development. It is where this strategy is use to boost up the company’s sales and profit. There will be an innovation and modification to the existing product which is pen. A normal pen will be transform into a smart pen. This innovation is prior to the demand of consumers based on their needs and wants. Furthermore, the smart pen will be very useful and handy as it is multipurpose.

Nowadays, consumers demand for a product which can make their life easier than before. This is where the smart pen comes into action. IonTech smart pen is portable and multipurpose. It could help the consumers to do their job with a click of a pen. Moreover, there are five functions of the smart pen which includes a writing tool, recorder, projector, USB pendrive and laser pointer. It is a 5 in 1 product. IonTech smart pen can ease the work of the consumer especially in business field. It can help them to save time and cost, be more effective and efficient and to achieve their goals.

Besides, the smart pen can be use to write and the ink can be refill. It can be use as a recorder to record any important information that the consumer might left out as the brain cannot absorb all the information at once but a recorder can. This can help the consumer to listen back to the audio and interpret the information precisely. Other than that, it could be a projector. In our technology based world, there will be a need for presentation. A projector can be use to help us visualize the idea and it is link to the USB pendrive. This is where any information kept in the USB pendrive can be directly shown using the projector. Hence, the consumer will not need to use any computer and it can save space as well as time. Moreover, IonTech smart pen can be used as a laser pointer. This will be very useful during a presentation. Apart from the five functions, IonTech smart pen is internally build with Bluetooth. This is where all the data from the pen can be directly transfer to any devices such as computer, handphone and others. Thus, this smart pen could be a perfect gadget for a business-related consumer.

Some characteristics of IonTech smart pen are:

1. Refillable ink

2. Recorder button

3. Bluetooth button

4. Portable USB at the bottom which can be use to charge the smart pen

5. Projector button

6. Laser pointer on the cap

In conclusion, the innovation of a pen to a smart pen requires an intensive brainstorming by the expertise from the Research and Development Department (R&D). Creativity is most needed during this process. The product development is done using advance and latest technology obtain from various developed countries such as Japan. Furthermore, the expected sale is projected to increase to 10 million units as the product is launch. IonTech Sdn Bhd is very confident in meeting the consumer needs and wants and the launching of IonTech smart pen will be very successful.

5.2 Market Development

The second strategy is market development. This is where the IonTech smart pen will be introduce to a new geographic area in the future. Currently, the pen is selling only in Malaysia. The target market will be expanded to a new location in order to test our product market. Furthermore, the launching of IonTech smart pen in Malaysia is well accepted and the demand is beyond the expectation. The smart pen will be introduced to other countries such as Singapore, Indonesia and Japan. Singapore and Indonesia are our neighbouring countries. It would be a perfect target for our next market. Moreover, Japan is a developed and technology-based country. Japan as the target market would be a good strategy as it could ensure a high demand which lead to increase company’s profitability and increase the revenue of Malaysia. Hence, it would be a lost if we did not take the risk in trying to expand our market.

The expansion of the market is due to the rapid growth of technology-based market and demand around the world. Besides, the company has sufficient capital and expertise to penetrate a new market. Export is also very important as a source of revenue. Apart from that, our transportation has grown and this would help us to widely disperse the smart pen. In a nutshell, this 5 in 1 smart pen is very unique. Hence, this product could gain competitive advantage and widely accepted locally and internationally without ambiguity.