Paratech is a new company in the navigation industry, which uses an independent quadcopter to capture and analyze aerial survey data. In a short period of time the company has made a name for itself since it’s a first of its kind offering a navigation to aerial survey data, which is a much needed device due to the ever changing world we live in. Navigation companies are popping up everywhere, each offering a specialty to set themselves apart. Partech’s vision is to offer world-wide solutions to enhance resources, improve performances, and secure operations via the analysis and the handling of aerial data assimilated by navigations. Paratech has originated a technique that will assist in the search for unknown areas that offer space for several…show more content… This is in contrast with Paratech, which utilizes the advanced methods of forecasting to develop its short term strategies as well as to ensure that it is able to corner the market in the short term (Stahl, Björkman, Farndale, Morris, Paauwe & Stiles, 2012). All of the predictions made by this company are expert driven with the intention of ensuring that the predictions are as accurate as possible so that contingency plans can be made to protect the company against potential errors. Research is conducted in the market as a whole in a bid to develop an informed consensus concerning the various forecasts that are made in the short term. Market research is conducted in a manner where all potential clients are polled about specific products so that a prediction can be made concerning how many of them are likely to buy or not. Furthermore, the Delphi method is used, where experts are asked their opinions about products in a general manner so that proper predictions can be made using the answers that they give. In this way, Paratech has been able to utilize the methods that its rivals do not normally use, making it a leader in the industry on its own right. For a startup such as Paratech, it is important for substantial costs to be incurred in marketing since…show more content… Paratech provides the means through which institutions that need the navigation technology can acquire it in the best form in a manner which they have need of in order to be used successfully Paratech has experienced huge growth over the last two years, with many clients now considering the use of UAVs a normal part of their manufacturing procedures. Paratech provides its users with the needed product experience so that they can be able to develop sufficient confidence in them to encourage them to purchase more. In this way, Paratech has been able to achieve success at a much lower cost than its competitors since it makes good use of all the resources it has available to promote itself and its products.
Partech will have to focus on two main types of expenses to build a successful start-up. Fixed costs are expenses which do not change with sales volume and variable costs which, change with the volume of the product. It is important to understand the relationship between fixed and variable expenses, your sales volume, and your expected net profit. First, you have to understand your costs or