Dazult Company Ireland
Economic analysis of Dazult and compare with US market
Dazult Company Limited was registered in January 2012. The firm has developed a range of solutions for the data and statistical management software packages that have the ability to provide a one stop solution for the data needs of the organisations. The firm is a private company that was started in Ireland under the registration number 510268. The economic analysis of Dazult will be undertaken and then it will be compared with the economic situation in the US market. Dazult is poised to have an increase in the sales of the products due to the entry into the United States of America as well as the increase in the demands of the products from the operations of the firm in Ireland where it was registered. The involvement of the firm in the provision of the data management capabilities as well as the extension of the service to the other countries of the world apart from the Ireland where the firm was formed has greatly supported the economic situation of the firm. Since the firm is a small sized company, it is required to only file the abridged audited accounts that show very limited information at the Companies Registration Office (CRO).
The turnover of the firm is less than €7.4 million that it is exempted from the undertaking of the audits. The annual returns on the other hand must be filed by the firm regardless of whether the firm has traded or has not traded at all. The other element of the economic analysis that will be considered is related to the issue of the issue of the employment levels in the firm (Dazult 2013a). The firm currently makes use of the employees who are contracted to be able to undertake the different roles which are then dropped as soon as the job that was being undertaken is completed.
The economic situation of the US market will also be considered in light of the economic situation of Dazult Ltd. The US market is faced with low levels of inflation thus the costs of the undertaking of the business will be low as the inflation rate stood at 2.1 per cent based on the 2012 estimates. The unemployment levels of 8.1 per cent based on the estimates of 2012 is an indication that the firm will be able to get the labour that will be able to undertake the functions that are required by the firm. The high GDP (purchasing power parity) that is found in the firm which was estimated to be US$ 15.94 trillion based on the estimates of 2012 is also a good indicator of the ability of the firm to be able to get significant demands for the products and services that are offered. The industry significantly supports stocks of foreign direct investments in eth country. The rate of the FDI in the United States stands at $2.723 trillion based on the estimates of December 31, 2012. It can be said that rather than just undertake the operations in a country that does not support the use of FDI, the US where the firm will be making an entry significantly supports the FDI activities (CIA 2013).
Company strengths and weaknesses
The strengths and the weaknesses are elements of the internal environment of the firm. Rather than just focus on the operations of the firm in Ireland, there will be the consideration of the strengths that the firm will have in the international market as well. The strengths of the firm will be considered before the consideration of the weaknesses of the firm in the environment where it operates in. The first strength that will be considered is the profitability that is made by the firm. The firm is focused on the profitability of the operations as it takes on work that will ensure that it reaps profits before it can make the choice to be able to take on another work. Secondly, the firm has the ability to be able to compete for the tenders in the different countries including the US. The firm has been able to win tenders in the US to be able to develop a number of systems and deliver a variety of the service that are required by the clients who contact the firm.
The firm is currently competing for a tender that is worth $500,000. The other strength that the firm has is that of the collaboration with the other firms. Currently the firm is in collaboration with RTI for the tender in the US market. This collaboration allows the firms to be able to have competitive synergies with each other thus increasing the scope of the activities that can be undertaken by the firm.
The firm has a wide array of products that can be offered to the different customers. In the use, the firm focuses on the data analysis service while in the other markets the products such as statistics and data training, the scientific consultancy, the software solutions and online surveys are undertaken by the firm (Dazult 2013b). The firm also has the strengths in the use of the technology for instance the cloud and desktop computing and the strong encryption capability that helps in the development of the trust of the customers thus ensuring that the firm is highly competitive in the market where it currently operates. Majority of the competitors of the firm lack the proper encryption capabilities for instance SPPS one of the competitors of the firm lack the main encryption capabilities for the stat, Mini-tab and SAAS amongst the many others thus the customers in the market prefer the firm.
There are also some weaknesses that the firm will be faced with for instance the weak or low market share in some of the markets. The firm was founded in 2012 and has not established many market inks thus ensuring that the capabilities of the firm are significantly undermined. Secondly, the firm does not have an individual who is in -charge of the marketing activities that are being undertaken thus ensuring that the reach of the diverse products is not enhanced significantly (Dazult 2013b). The low presence of Dazult especially in the US market has a significant negative impact on the activities and the undertakings of the firm. The main issues that are considered include the low ability of the firm to be able to reach the different customers.
There are a number of different approaches that have been used by the firm to be able to deal with the weaknesses that the firm has by ensuring that the market share of the firm increases while also ensuring that the levels of the awareness of the customers about the products that are found in the market significantly increases. First, the firm makes use of website advertisements to be able to reach the customers. The website of the firm which is found at http://www.dazult.com/ has been used significantly to inform the current and the prospective customers about the different products and the services that are offered. The website of the firm is used to inform the prospect customers about the diverse products that are offered by the firm.
From the website of the firm, there are products that are listed for instance the DaMicroPredictor which is a free microbial growth prediction tool, DaDIET – a tool for Dietary Intake Exposure, DaAnalysis and DaSurvey amongst the many other range of the statistical and data management software packages that have been developed by the firm. There are also the services that are offered in the market for instance the customer scientific software, the online surveys, data and statistics training and the scientific consultancy amongst the many other elements that are found in the market. Secondly, the firm also makes use of the telephone and email marketing. On the website of the firm, the telephone numbers of the rest of the world; +353 1 4433433 as well as the telephone for the US; +1 202 697 9945 and the email address; email@example.com are all listed to enable the interaction between the firm and the potential customers who may want to be able to gain any form of information about the products of the firm (Dazult 2013a).
This is a push marketing strategy where the firm leaves the initiative on the current and potential customers to be able to make the enquiries about the products and the services of the firm and how the firm (Dazult) can help them to be able to achieve their individual goals.
Finally, the firm makes use of the social media to be able to reach the individual customers of the firm. The main social media which is used by the firm is the use of LinkedIn.
The firm has two directors and the LinkedIn profile of Paul Dempsey, one of the directors, is provided at the website of the firm. Upon clicking in the link that is provided for the full profile of Dempsey on LinkedIn, the customers can then view the different capabilities of the individual who works for the firm and thus will play a great role in enhancing the confidence of the customers in the capability of the firm to be able to undertake the roles that are at hand. The profile summary states that:
The top graduate from UCD Science in 2003 with a final grade of 94% in Mathematical Physics, I was awarded an IRCSET Scholarship to carry out research in Theoretical Astrophysics leading to a PhD. Through my education and research I have gained a great deal of expertise in a range of mathematical and computational techniques which are applicable to a wide variety of real world problems.
Specialties: Numerical Analysis, Mathematical Modelling, Data Analysis, High Performance Computing, C/C++, MPI, OpenMP, Matlab, Maple, Visualisation of Complex Data, Public Outreach (LinkedIn 2013, para. 1).