17 Jan Briefing Paper: Exploring Factors which Drive Market Demand for Cybersecurity Products and Services
Failure to understand what drives customer demand in the cybersecurity market can result in a quick trip to bankruptcy court or a forced sale of a company. For this reason, product developers, service providers, and other types of vendors (e.g. resellers, systems developers, federal or state contractors, etc.) need to understand what drives current and future customer demands and requirements for technologies, products, and services. Once the relevant market factors are identified, companies can develop strategies for meeting current and future demands for products and services — figuring out what customers want to buy and then providing it at a profit.
One of the most commonly used sets of market factors is referred to as PEST. The four factors in this set are:
· Political-Legal factors (e.g. laws & regulations — consider both current and proposed, cybercrime, cyber terrorism)
· Economic factors (e.g. fines for non-compliance with laws or regulations, availability of trained workforce, profitability of purchasers, availability of venture capital or credit for business startups)
· Socio-cultural factors (privacy concerns, pervasiveness of computers and digital devices, digital divide, “hacker” culture)
· Technological factors (product lifecycles, cloud computing, Internet of Things, etc.)
In this activity, you will explore the 4 PEST factors. Look for information that explains why a company must identify and assess the impact these factors have or will have on the demand for IT security solutions (products or services). (Hint: GDPR is having a significant impact on two factors — political-legal and economic — for companies that do business in Europe.)
Present your findings in a 3 to 5 paragraph briefing paper. Your audience is a group of technical and non technical managers who are attending a monthly business round table sponsored by Nofsinger Consulting Services.
Post your briefing paper as a reply to this topic. Provide in-text citations and references for 3 or more authoritative sources. Put the reference list at the end of your posting.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.