Trends Related to regulatory forces

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Write 3 page essay on the topic Trends Related To the Social, Economic, Technological, Competitive, and Regulatory Forces that Relate to the Product or Service.According to the research findings, it can, therefore, be said that economic factors include interest rates, taxation changes, economic growth, inflation and exchange rates. The current economic slowdown ensures that clients will start focusing on alternatives which will save their energy bill in the long run. It has been observed that new technologies create new products and new processes. It may be observed here that solar installations have become must more cost-efficient in the least efficient. Continuous R&D has also ensured that cost of production of other energy conserving products has gone down. Greenomics has a distinct first-mover advantage as the market is still new for players to come in and set up shop. Since it is a very new market, Greenomics may enjoy unique benefits while negotiating with its suppliers and end clients. Regulatory factors are the biggest positives that Greenomics have and will continue to, encounter in their quest. With the current global trend favoring carbon credit regulations and the move towards the ‘Green Office’, clients seem to be lined up for Greenomics! The most important factor that needs consideration while calculating the target market for Greenomics is the fact that the concept of a ‘Green Office’, is still a new concept. So there are no set benchmarks, no set pattern and no established rules concerning the use of energy efficient techniques. The market for Greenomics will consist of all interested in having in place energy-conserving techniques at a place. The initial customers will be comprised of offices who are interested in saving money on the power bill in the long run. A more conscious clientele will, however, emerge, who are concerned about the immense environmental costs associated with traditional energy and thus focus on better and more efficient methods.

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