Reference no: EM132190987

Read the need statement of an electronic company below:

In September 2004 IDC, a market research firm, reported that the market for portable mp3 players would boom over the next five years into a $58 billion industry. The IDC reasoned that the portable flash players are going to overshadow the much publicized hard drive based players. Due to the falling prices in flash memory and technological breakthroughs that have resulted in higher capacity flash cards the market is raw for portable flash players. IDC reported that 12.5 million flash players were sold in 2003 and predicts that the number will jump four-fold to 50 million units in 2008.

Currently there exists a market for portable flash player and our company wants to have a big share of this market. We do not want to be a mere imitator, saturating the market with just another MP3 player. We intend to take this concept a step further. We asked ourselves—What would set our player apart from the dozens of players that are already out there in the market? Our solution is to design a portable player that is highly immune to the vagaries and abuses of users. Water proof walkman and shock resistant CD players have been in the market for decades, but there is no portable flash player that can withstand continuous shocks, exposure to water, and exposure to extreme temperatures.

Our intention is to fill this void and give customers a player that they can run or jog with, listen to their favorite tunes while swimming or relaxing in a Swedish spa or hiking at great altitudes.

Identify all the stakeholders for the above proposed portable flash player.