A startup company should be aware of the future pattern of demand and need of its products for success in terms of sales and earnings. The present market needs and the expected growth in demand should be analyzed for the proposed products. This would not only assist the management of the company in establishing manufacturing capacity but also in preparing a marketing and sales plan for future periods. The company management will base its sales forecast on the present and future pattern of demand of the product.
The management of Electro-Light also needs to be aware of the current and future demand for Light Emitting Diodes. The processes of various electronic appliances and automobile manufacturing companies require Light Emitting Diodes as vital components of their products. The manufacturing of electrical appliances in the parent company also needs Light Emitting Diodes in large quantities. The management of the company is also aware that the increasing demand in Light Emitting Diodes will give way to new entrants into the market. The company will target on establishing and maintaining strong and effective professional relationships with important potential customers by fulfilling their procurement needs. The potential customers of the company products not only require high-quality and low priced Light Emitting Diodes, they also want a reliable and sustainable supply chain. Electro-Light is in a suitable position of supplying top-quality Light Emitting Diodes to these customers.
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