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Essay / Research Paper Abstract
A 3 page paper discussing forecasts for the power tool industry through 2009 and reviewing the websites of Black & Decker, Bosch, Makita and Porter-Cable to assess how these companies are using industry forecasts. Each of the companies' sites reveals the same overriding strategy, though focus falls into consumer and professional groups. Only Black & Decker overtly courts the consumer market, while Makita appears to be appealing to both the consumer and professional segments. Bosch and Porter-Cable direct their efforts to professionals, apparently to take advantage of the gains possible there while also attracting consumers striving to collect professional-grade brands. Each company's approach is in keeping with industry forecasts. Bibliography lists 8 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSmgmtPowToolInd.rtf
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Unformatted sample text from the term paper:
starts have declined slightly as mortgage rates increase and as housing prices go far beyond affordability in markets formerly described as the "hottest" in the country, do-it-yourself projects are more
popular than ever and battery-operated power tools have become a staple within the construction industry. The end result for the makers of power tools is that they can expect
pleasing and profitable years at least through 2008 or 2009. Industry Forecasts "The Freedonia Group, Inc., a Cleveland-based industrial market research firm" (U.S.
Power and Hand Tools Demand to Reach $15.5 Billion in 2009, 2005), released a Power & Hand Tools study in early 2005 concluding that "U.S. demand for power and hand
tools is forecast to increase 3.8 percent annually (including price increases) to $15.5 billion in 2009" (U.S. Power and Hand Tools, 2005). Another
industry forecast made by Global Information, Inc. holds that demand for power tools will increase "by as much as 6 percent annually through 2007, reaching sales volume of more than
$27 billion" (No surprise, demand for tools climbing, 2005; p. 27). Currently leading the industry and expected to retain its leadership position is the segment containing "professional-quality, high-end tools
used predominantly for working with wood" (No surprise, 2005; p. 27). Professionals are relying more heavily on high-quality, battery-operated power tools, and increasingly consumers are opting for the professional
quality tools as well (No surprise, 2005). The Freedonia study notes that technological changes will significantly contribute to industry growth. One of
the complaints that professionals had with battery-operated power tools in the past was the length of time that their batteries could hold a charge sufficient for supplying the level of
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