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MEMORANDUM

Student Name

Professor’s Name

Course Name

Date
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To: Senior Management

From: [Your Name]

Date: [Date]

Subject: Integration of IoT and Connected Cars into Company's Product Line

I suggest incorporating linked automobiles and the Internet of Things (IoT) into our

company's product range. This document seeks to provide a thorough analysis in favour of this

tactical choice utilizing the RWW (real, win, worth it) screening technique.

Feasibility of the Product Line

The automotive sector's linked vehicle and IoT trend is a genuine and palpable

advancement. The exchange of essential data is made possible by connecting automobiles

through the internet and the growing number of sensors and computers built into them (Zhang et

al., 2021). Consumer desire for more advanced functionality, convenience, and safety features

makes it clear that there is a market for linked automobiles. With the market for IoT-connected

automobiles expected to rise to over $510 billion by 2030, the potential market size is

substantial.

Ability to Win Market Share

Our business must innovate and remain market-ahead to maintain a competitive edge.

Even though we now provide specific networking options, we are not the market leader.

However, our knowledge of technology and our current alliances provide a solid basis for

success. We can establish ourselves as a significant participant in the connected automobiles

market by concentrating on creating completely integrated information systems, aided driving

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capabilities, and increased service information. To remain ahead, it is essential to pay careful

attention to how our rivals respond and always to comprehend market dynamics.

Potential Benefits to the Company

Our business stands to gain significantly from incorporating IoT and linked vehicles into

our product range. First of all, with the connected automobiles industry expected to develop at a

compound annual growth rate of 25%, it provides the opportunity for more profitability

(Willems, 2021). By strategically deploying innovative connected vehicle solutions, we can

increase our market share and create new income streams from repair and parts services. In

addition, adopting IoT indicates our dedication to technical improvements and is consistent with

our company's overall growth plan.

Strategic Importance of IoT and Connected Cars

The changing requirements and preferences of consumers greatly influence the

automobile business. Modern consumers demand from their automobiles cutting-edge

technologies, connectivity, and customized experiences (Tubis & Poturaj, 2021). Combining IoT

and linked autos can efficiently address these requests and raise consumer satisfaction. Failure to

embrace these technologies might cause businesses to lose market share to rivals already making

linked vehicle investments. Accelerated connected vehicle development will also let us explore

new business options like integrated maintenance and high-margin services, supporting our

growth.

The two options we may think about are radical or discontinuous innovation and gradual

innovation. Discontinuous innovation entails the introduction of a whole new model that

integrates current technologies. Although this strategy can involve a substantial expenditure, it
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allows us to establish ourselves as market leaders (Willems, 2021). Contrarily, incremental

innovation means enhancing our current models annually with sensors, computers, and IoT

features. This strategy fits with how we already do business and enables us to use our

incremental innovation know-how. However, we must be alert to future market shifts and fresh

possibilities, ensuring we appropriately modify our plans.

In conclusion, our business sees a strategic benefit from combining IoT and linked

vehicles. It supports changing client demands, keeps us competitive, and has significant

development potential. We can establish ourselves as a leader in this developing industry by

using our technological know-how, current alliances, and innovative skills. To make sure that

implementation is effective, I advise allocating resources and receiving cooperation from high

management.

I appreciate your consideration of this issue.

Sincerely,

[Your Name]
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References

Tubis, A. A., & Poturaj, H. (2021). Challenges in the implementation of autonomous robots in the

process of feeding materials on the production line as part of Logistics 4.0. LogForum, 17(3),

411–423.

Willems, L. (2021). Understanding the Impacts of Autonomous Vehicles in Logistics. The Digital

Transformation of Logistics: Demystifying Impacts of the Fourth Industrial Revolution, 113–127.

Zhang, J., Yarom, O. A., & Liu-Henke, X. (2021). Decentralized, Self-optimized Order-acceptance

Decision of Autonomous Guided Vehicles in an IoT-based Production Facility. International

Journal of Mechanical Engineering and Robotics Research, 10(1), 1–6.