The Segway Human Transporter (HT) has introduced a unique and sustainable way for people to transport themselves. The Segway is a scooter-like device that travels around two to three times walking speed, it is electrical and much more compact that an actual scooter, able to move through sidewalks and smaller spaces. The Segway is also much safer than most means of transportation, with gyroscope stability features, soft tires, and it’s ability to back away from anything it hits. Created by Dean Kamen and introduced in 2011, there has been more than $100 million in the investment of the new project for this machine. With the ability to carry the average rider with 5 cents worth of electricity per day, this product can target many markets with its sustainability features and has high potential for the future. One of the prospect markets of the Segway HT are industry workers, who can make use of the convenience, stability, and changes in speed to be able to operate quicker and more efficiently. Consumers will also continue to be targeted providing an efficient way to transport that is more affordable in the long run and safer. The improved product is looking to cost $8,000 with a lower rate for industry workers. Segway HT’s have the potential to increase their sales and profits as the product transitions from its Introduction Stage to its Growth Stage of product life by becoming a primary tool for industry workers and a preferred mean of transportation for the general public. By advancing the product to provide safety and privacy it has potential to expand to different industry professions.
Marketing Research Decisions:
Understand the current and future need of a product such as the Segway HT1 for both, businesses and consumers by determining:
If investors of the Segway HT1 should continue with their plans of launching the Segway into the personal transportation category, instead of pursuing the industrial transportation market
What safety and privacy features can be added to the Segway HT1 to target the industrial market and consumer market.
1. Conduct a survey among the top 500 companies from different industries on how likely they would be to implement a new form