(PDF) Eco-Fone Business Report

Added on - 30 Aug 2021

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Eco-Fone Business
Report
Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................3
TASK 3............................................................................................................................................4
TASK 4............................................................................................................................................4
TASK 5............................................................................................................................................5
TASK 6............................................................................................................................................8
TASK 7............................................................................................................................................8
TASK 8..........................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFRENCES.................................................................................................................................12
APPENDICES...............................................................................................................................13
INTRODUCTION
The smartphone market is on the rise every day as individuals are constantly using the
newer technologies (Abi Ghanem and Mander, 2014). This project is focused on the business
Eco-Fone, that deals with Smartphones and their relatedaccessories. They've got two stores, one
atPutney andother at Richmond, but they're not specifically dealing in laptop computers or
smartphones. Respective organization is thinking about extending its business in new place
Kingston. The study belowcovers products, customersand financial data relevant to the Eco-
Fone enterprise. Together with the UK cell phone industry description.
TASK 1
Overview of mobile phone market in UK
As shown in a survey performed by Deloitte about mobile use inUnited Kingdom
market. Use of smartphones is growing on a continuous basis, that specifically has a beneficial
effect on the yearly growth in revenue of around 1.5 billion. The prevalence of smartphones in
the UK is around58 percent in the adult citizenry and is projected to go up to around90 %by
the year 2020 as perresearch (Smartphone sales boom with over-55s,2019). This level is
projected to increase as the large percentage of individuals are attracting towards smartphones
and also thisassisting in their dailyjobs/tasksat the modern workplace. Because smartphones
also have applications through which individuals can do certain professional or official work, as
well as there are currently 33.5 million individuals employed out of whom 32-million are already
using cellular phones forwork. Smartphones assist with a range of tasks, e.g. e-mail, texting,
audio calling, schedule planning, and many more. Besides this, individuals of older age still use
cell phones for entertainment purposes.
TASK 2
Forecasting the UK adult smartphone use
According tosurvey undertaken, around17 percent of entirepopulation aged 16 to 24
areutilizing their smart phones around100 times insingleday, and also about 12 percent
ofpopulation say that they look up their devices around200 times each day. In fact, 34 percent
ofindividualsfrom 16 and 75 years of age-groupare addicted to smartphone apps that they tend
to use when still enjoying food when seated withfamily membersor friend. That same behavior
of accessing the smartphone is developed in aroundthe 49 percent of16 to 24 year age category.
Around 11% of16-to 75-year-old age category individuals using their phones when trying to
crossroad and above53 percent are doing the same when walk acrossroad. It has therefore been
identified that individuals between the ages of 16 and 75 use cell phones more than others
(Global mobile consumer survey.2017).
TASK 3
Smartphones – A potential market for older customers
As statedby Leo kelion, this has been observed in year2017 that smartphonessales are
expanding with elderly consumers inUK, as percase study ofindustry. As 71 per cent of older
customers aged 55-to-75 are its own phones and also surveys have shown that the corresponding
age individuals are embracing technology quicker than others over the previous 5 years. In
addition, research done by Deloitte, which has a population size of around1,163, indicates that
compared to young adults aged,individualsbelong to 55 to 75 years age-group, smart-phones are
used more. Through with this, those who have income beyond the normal are probably to buy
premium mobile devices. It is also recognised by the team of researchers that the first purchasers
can be pressured to make purchases.
TASK 4
‘Pros and cons method’ table for expanding to Kingston
Should we expand
business
Yes,Kingston market is beneficial for Eco- Fone company to
expand there business .
ProsScore/10ConsScore/10
Throughextending
business activities and
processes onKingston
region, they maximize
the total percentage of
buyers there.
8IftheEco-Fone
organization wants to
extend its operations
throughout the Kingston
region, it must make an
immense amount of
moneyorfunding
available to run the
enterpriseinan
expedientmanner
7
(Kaczmarek,Behnke
and Dżon, 2019).
Oncethe
aforementioned
smartphone corporation
expands its operation in
Kingston, this will be
able to strengthen the
exposure ofcompany's
product and brand in
marketplace.
6Althoughexpanding
company operations as
wellasactivities
respectively, there are
major concerns relating
to regional government
laws and initiatives.
6
By expanding business
processes onKingston
region, Eco-Fone has
the ability to learn the
new tradition and to
recruityoungand
inventive local talent
from their respective
areas of operations
(Chang, Shen and Liu,
2016).
8throughoutthe
expansion of businesses
inKingston,the
aforementioned
companyfaces
linguistically-related
issues that obstruct its
business processes and
activities.
6
When their respective
companiesimprove
their Kingston business,
company should be able
to boost the profitability
proportion anduser or
clientbase.
7By through corporate
activitiesand
functionalities
inKingston region, Eco-
Fone also broadens its
competitiveness. They
have a directly or
indirectly influence on
business (Haberman and
et.al., 2015).
8
Total Pros29/40Total Cons27/40
Average Pros0.72Average Cons0.67
TASK 5
Cost of a new building andwell-known commercial mortgage lenders in the UK
Loan Amount£350000
Number of EMIs180
Annual Interest Rate0.07
Monthly Interest Rate0.00583
Monthly EMI Payment£3145.90
Total Loan Amount Payable£566261.81
Total Interest Payable£216261.81
mortgage loan/debt isamount of money paid upfront and alsomortgage instrument issued
by the lender to the borrower's property. All the kind of lending is primarily used for the
purchase of fixedassets, like land, homes and many more. In addition, it is insured, which
ensures thatlender will lose assets if the borrower fails to repay the sum (Shah and Ameen,
2019). Any of the elements used in mortgage-loan involve principal, suminterests, tax and other
related finance charges.Several organizations inUKproviding mortgage lending are listed
below:-
B2B Finance.Com Commercial mortgages
NatWest Commercial Mortgages
THINK Business Loans Commercial Mortgages
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