Eco-Fone company - Assignment
Added on 2021-02-20
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INTRODUCTIONMarket of smartphone is increasing because people are showing there much interest inusing latest technology (Schmitz, 2013). As per the given case study respective report is basedon Eco-Fone business firm that mainly deals in Smartphone and their accessories. Respectiveorganisation have mainly two shops one is in Putney and another is Richmond. At present Eco-Fone is not offering laptops and tablets as well they are thinking for business expansion withinKingston. This report will going to discuss information of products, customers and financial inrelation of Eco-Fone company. In addition to this, overview related to mobile phone market ofUnited Kingdom will explain. TASK 1Overview of mobile phone market in UK 250According to the conducted survey by Deloitte which is related to the usage ofsmartphone in the market of United Kingdom. It has been identified that utilisation ofsmartphone is increasing which have its direct as well as optimistic effect on enhancing sales by1.5 billion per annum. In UK, presence of Smartphone is 58% among adult people and it hasbeen anticipated that presence will reach up-to 90% by 2020. In addition this, uses percentage isexpected as increasing because youngsters and old age people are getting attracted towardssmartphone as it help in their daily basis activities within workplace. As smartphone have suchfeatures on that particular person will able to do their office work such as approx. 33.5 millionpeople are employed out of which 32 million are using smartphones for doing work related tojob. Smartphone aids in conducting several activities like messaging, calendar management,voice calling, E-mails and so many. TASK 2Prediction of adult smartphone utilisation in United KingdomAfter conducting survey it has been analysed that, 17% of population who come underthe age group of 16 to 24 years are using mobile phones approximately 100 times within singleday (Global mobile consumer survey, 2017). Along with this, 12 percent population of same agegroup has claim that 200 times in a day they check their mobile phones. Apart from this, 34% ofpeople who comes under the age group of 16 to 75% are addicted for uses of mobiles they are
even this must addicted that while having food also they use as well as when sitting with friendor family members. This same habit is found in 49 percent of population between the age groupof 16 to 24 years as they also use mobile phones while having food or sitting with someone.Further more, 11% population who come under age group of 16 to 75 years use there mobileswhen they are crossing roads as well as more than 53% people of same age group use whilewalking on the road. Thus, from overall survey it has been found that utilisation of smartphoneusage is founded more in age group of 16 to 75 years old people in comparison of other peoples. TASK 3Smartphones-A potential market for older customersAccording to the views of Leo Kelion, 2017 it has been identified that sale mobile phoneis getting boomed with old customers within UK, as per the case study of market. From researchit has been identified that, 71% of population who come under the age group of 55 to 75 yearsown smartphones as well as they adopt technology in fast manner as compare to other age groupwithin last five years. In addition to this, research which is conducted by Deloitte same size ofthat is 1,163 in comparison of youngster people of 55 to 75 years are utilising smartphones more(Smartphone sales boom with over-55s, 2019). apart from this, people who have income orwealth above average purchase premium class handsets. TASK 4Feasibility of expanding business to Kingston using Pros and Cons Should we expandbusiness Yes, For Eco-Fone market of Kingston market will beadvantageous for business expansion.ProsScore/10Cons Score/10Business expansion forEco-Fone in Kingstonhelp in increasing theircustomer. 8Major cons is that Eco-Fone need huge capitalfor their operationswhileexpandingbusiness in the marketarea of Kingston. 7Business expansion will6There are several6
helprespectiveorganisationinincreasingtherevisibility as well asname within marketarea (Chang, Shen andLiu, 2016). problemswhichcompany face whileexpanding and theseproblem will be relatedtopoliciesandregulations of localgovernments.Throughbusinessexpansion Eco-Fone getopportunityofunderstandingnewculture as well as theywill able to improveproduction process byhiring new and talentedlocal residence. 8Respective smartphoneorganisation may faceissue related to languagewhileexpandingbusiness in Kingstonwhich may hamper thereworking as well. 6WhenEco-Foneexpandingtherebusiness in Kingstonthey can enhanceprofitability as well ascustomers bases. 7Eco-Fone will face largenumber of competitionwhich directly andindirectly give wideimpact on there working(Bagga, Noseworthy andDawar, 2016).8Total Pros29/40Total Cons27/40Average Pros0.72Average Cons0.67TASK 5Cost of new building
Mortgage loan is simply debt instrument as well as advance paid money that is given bybank against property of loan taker which given as security. Such type of loan is mainly taken bythe individual who want to purchase any property like home, land and many more. In addition tothis, mortgage loan is secure because in this lender can forfeit property in the situation when loantaker get fail to pay amount (Premkumar and Nigel, 2015). There are several components whichare involved within mortgage loan like principal, tax, insurance and interest. There are severalfirm in UK which are offering mortgage loan explanation of these are as follows :- 1. THINK Business Loans Commercial Mortgages2. B2B Finance.Com Commercial mortgages3. NatWest Commercial Mortgages4. Royal bank of Scotland Commercial Mortgages
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