FANA is an Internet based company that will develop, manufacture, and distribute products for the visually impaired.
The company mission statement is:
FANA wants to improve the quality of life for visually impaired individuals by providing products that will promote and maintain a productive and independent lifestyle.
These products will be considered an innovation.. Significant effort will be expended to reach the visually impaired audience. The first product offered by FANA is the Road Warrior. It is an all in one cane and GPS navigation device to help the visually impaired traveler find their way around urban and rural cities. This is the only offering of its type. There are other GPS systems for the visually impaired, but none so far have incorporated the walking cane with the GPS system. FANA believes that leveraging the strength of the internet, a well targeted advertising and promotion campaign, and development of comprehensive online support and customer assistance will allow this product as well as any other products that will be offered to highly succeed within this target market. Several of FANA’s products in development have patents pending, and local market research indicated that there is great demand for these products. FANA will achieve fast, significant market penetration through a solid business model, long-range planning, and a strong management team that is able to execute this exciting opportunity. Since this is a new product, it is going to merit large advertising budgets to build awareness and to gain consumer trial. In the beginning, we will have high advertising frequency so that the brads message to consumers will reach the consumers quickly and more efficiently. FANA will sell its products initially through its Web site. This direct-to-the-consumer approach will allow FANA to achieve higher margins and maintain a close relationship with the customers, which is essential for producing products that have a...