Industry Description and Outlook: Tri-Chip falls into a subcategory of the GPS industry where it uses technology to solve the common problem of losing or misplacing essential items. This is an emerging market that by 2019 is estimated to be worth 27 billion dollars. Apart from Tri-Chip the market is composed of Tile, Garmin, Track R, and other small companies.
Target Market: Tri-Chip’s doesn’t have a set target market, the company believes that the product can be used by anyone from kids trying to find their backpack to elderly trying to find their glasses. Distinguishing Characteristics: Tri-Chip stands out from the rest because we offer the most features for the price. Our product uses a GPS tracking system which competitors only offer a
