The paper "Dragon’ s Den Target in the Market Environment" is a wonderful example of a case study on marketing. This paper is a report for Ian and Richard, who recently appeared in Dragon’ s Den and who has received the necessary financial backing in order to develop their product at a regional or local level. The report seeks to analyze and evaluate the product and its market place. In doing so, it looks into the issues of the market environment and communication skills required to win in the market and into understanding the profitability of the venture in the future. About Dragon’ s Den Dragon’ s Den is a television show which started in Japan.
The show revolves around business entrepreneurs, who come up with a great investment offer into their product or service in return for some benefits for the investors. In the show the offer is made to the business experts – ‘ The Dragons’ , who decides on which investor is worthy enough to receive the money investment they require. It is up to the entrepreneurs to do what they have to convince the dragons about the potential of their product or service.
This, Dragons' Den is a series, in which entrepreneurs pitch their ideas for the purpose of securing investment finance from ‘ The Dragons’ who are a group of elite business entrepreneurs. In the U. K Dragons' Den is broadcast on BBC Two. The show is hosted by Evan Davis, who is the BBC's economics editor. ‘ The Dragons’ or the business experts who judge investment offers in the show are Duncan Bannatyne, Peter Jones, Theo Paphitis, Deborah Meaden, and Richard Farleigh. Since these names and the outcome of the show is going to be brought up through the paper, it is necessary to have this brief introduction on the show and its members. About Coin Metrics Richard and Ian have started a company called Coin Metrics.
The company is located in Milton Keynes in the United Kingdom and specializes in offering customers wireless revenue monitoring technology for their fruit and arcade machines. This product makes use of components provided by a company named Merlin Systems Corp and provides information to users using a Microsoft Windows application.
This service is rather innovative in nature and has gained a great deal of attention from the Dragons, who thought of it as a very good investment offer and therefore provided Richard and Ian with £ 200,000, which was what was their financial requirements were, in return for a 25% share in the company. The Marketing Environment Looking into the current trends in the use of fruit and arcade machines, in the U. K, the U. K sees a number of vendors using these machines and there exists a need amongst them for equipment which monitors their systems working in order to prevent losses.
Richard and Ian feel that their product can make a significant contribution to their customer’ s business operations by providing a significant return on investment and efficiency savings. Most vendors are looking to using a more efficient monitoring system for their gaming machines.