Tricky Widgets Manufacturing (TWM) is a manufacturer of heavy equipment machinery, with one location in Spokane, Washington. TWM is a start-up manufacturing firm. Along with a significant level of its own capital, TWM hopes to initially make a successful effort to secure start-up financing to begin operations.
TWM is looking to conduct operations at its location to meet an ever-growing level of demand for heavy equipment machinery products. The company's initial product offering will include the "Widget Basic," "Widget Deluxe," and "Widget Premium." These products are expected to be very popular among commercial construction companies because of their versatility and accurate control capabilities. Strong contact relationships and referral networks among commercial construction company owners are expected to allow for a rapid entry into this market.
TWM aims to offer high-quality heavy equipment machinery for the commercial construction industry at a price which is competitive in comparison to other premium-quality commercial machinery manufacturers in the market. The management of TWM believes there is a current untapped market opportunity because 1) existing providers of construction machinery are too diversified to serve the increasingly specialized needs of the commercial construction segment, and 2) the incorporation of greater precision controls within such machinery will greater serve the needs of this segment of the construction machinery industry.
1.2 Keys to Success
TWM's keys to success will include:
A high level of quality in its product line.
Maintaining and growing its referral networks to generate new and repeat sales.
Significant investments in research and development and engineering with the aim to focus on precisely controlled equipment.