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Innovative LED Lighting Venture: Final Report and Sales Strategy Insights

This final report covers activities such as working with engineers to test lights, reverse engineering existing models, discussing upgrades, and analyzing competitor specifications. The report delves into learning about raw materials sourcing, supplier selection, pricing strategies, testing processes for product safety, and the importance of customer relationships in the medical industry. Sales profiles for different regions are outlined, emphasizing factors like product features, price, warranties, and market specifics.

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Innovative LED Lighting Venture: Final Report and Sales Strategy Insights

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  1. Venture PracticumEBM 660 Final Report April, 11 2012

  2. Activities • Working with the engineers to test similar lights • Reverse engineering existing lights • Discussing possible upgrades in comparison to other companies lights • Speaking with the sales team in regards to how they were planning on getting into the fast paced market with our new lights • Checking competitors websites for their specifications

  3. What I learned • raw materials, where are going to be purchased from, trying out different suppliers, thinking about shipping costs, different type of materials to be used and what is safe to use. You have to find the best price and work the margins to see how much you can sell your product for. You have to do testing to find out weights and strength of the product and find it break point to put a safety rating on it • I also learned that sales in the medical industry are based largely on customer/distributor relationships

  4. Sales profile • Western United States – Customer relations, product features, best bang for your buck • Eastern United States - Customer relations, price, warranty • Canada - Price and proximity • International - different for each area, price and quality, warranty, keeping up to current technology

  5. Specs Fitted with 1 x LED lamp 4W; Neutral White Connected Load: 100-240V; 50/60 Hz Work Equipment: Electronic Plug-In Transformer Mains Lead: Approx. 705ft (2.3m) Luminaire Body Material: Aluminum/ Plastic Tubular Sections Material: Steel tube/ Metal Flexible Tube Mounting Options: rail mount, wall mount, floorstand, table mount Rail (for Rail Mount only): Fairfield rail, not applicable Weight (Net): Approx. 2.2 (1kg) Class Of Protection: II Lens: Dimensions: ø 2.8" (72mm) Lens: Diopters: 5.3

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