Eco-Fone Smart Phones Case Study
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Added on 2021-01-02
Eco-Fone Smart Phones Case Study
Added on 2021-01-02
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INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Overview of mobile phone market in UK..............................................................................1TASK 2............................................................................................................................................2Forecasting the UK adult Smartphone use.............................................................................2TASK 3............................................................................................................................................21.3 Smart Phones- A potential market for older consumers...................................................2TASK 4............................................................................................................................................21.4 A “Pros and Cons method” table for expanding to Kingston...........................................2TASK 5............................................................................................................................................41.5 Cost of a new building and well-known commercial mortgage lenders in the UK.........4TASK 6............................................................................................................................................71.6 Testing the Possible Difference in Net Taking in the Two Shops...................................7TASK 7............................................................................................................................................71.7 Customer Satisfaction.......................................................................................................7TASK 8............................................................................................................................................91.8 Quality procedures............................................................................................................9CONCLUSION................................................................................................................................9REFRENCES.................................................................................................................................11APPENDICES...............................................................................................................................14CONCLUSION..............................................................................................................................29
INTRODUCTIONThere is a rapid increase in the demand of smart phone which keeps on growing day by dayin a magnificent basis (Smartphone sales boom with over-55s, 2019). This is a result oftechnological innovations and advancements which makes individual found of smart phones.Present case study has been conducted on, the company Eco-Fone Smart phones. Entity sellstheir smart phones and accessories through their two shops in Putney and Richmond. Currentlycompany is not in the sector of selling laptops and tablets. Recently Eco-Fone is looking forwardto expand its business operations in Kingston. In this report, formative discussions has beenmade on, product related, consumer related and finance related information in context with Eco-Fone. In addition with this current situation of phone market in United Kingdom is also coveredin this report. TASK 1Overview of mobile phone market in UKAs per the survey conducted by Deloitte, it has been evaluated that usage of smart phones isincreasing with its fast phase. It leads towards magnificent rise in sales volumes by 1.5 billion onan annual basis. Currently there is 58% of adult population in the sector of utilization of smartphone within UK and as per accordingly to a research there is a high expectation of this indexwill grow up to 90% by the year 2020. This drastic rise in the number of individual attractingtowards smart phone is because of as technology is acting as a most important part in everyindividual life smart phone aid people to conduct their regular activities with more easiness.Smart phone provide many benefits with the help of which individuals can do their work in greateffective manner. Currently there are more than 33.5 million population is working and out ofthat 32 million individuals performing their job with the help of smart phones. With theutilization of smart phone in day to day activities individuals can effectively do their work in aninstant and effectual way some of these activities include, calendar management, Email, voicecalls, messaging and more. In addition to this, old age group individuals are also takingadvantage of smart phone as a medium of their entertainment. 1
TASK 2Forecasting the UK adult Smartphone use As per according to the conducted survey, it has been seen that, approximate number of 17% population in the age of 16 to 24 is using and keeps on checking their smart phone 100 timesin a day. Along with this, same age of people claims that they check their smart phones 200times in a day. In addition to this, conducted survey throws a light on a fact that 34 % ofpopulation within the age group of 16 to 75 are heavily addicted to their phone and continuouslyuse it even without consuming their meal and spending their time with families and friends. Thiskind of same tendency is found in 49% of total population in the age group of 16 to 24. Whilewithin the age group of 16 to 75 11 % of individual is spending their time on smart phone evenwhile they cross a road and 53 % do the same thing even while they walk on the public road(Global mobile consumer survey. 2017). Thus, it has been analysed that, age group of 16 to 75 isusing smart phone more as compared to other age group of individual. TASK 31.3 Smart Phones- A potential market for older consumersAccording to the view of Leo kelion, 2017 is can be evaluated that, sale of smart phones isincreasing day by day within the group of older consumers in the territory of UK as peraccording to the case study. There is 71 % of old consumer within the age group of 55 to 75years is having smart phone along accordingly to research, it has been seen that individualswithin the same age group is adopting technology more faster as per compared to other in the lastfive years. Furthermore, as per research whose sample size was of 1,163 that has been conductedby Deloitte it has been analysed while making a comparison in between youngsters individualsof in the age group of 55 to 75 is more addicted to smart phones. In addition with this, peoplewho are having their wealth average of more than normal tends to buy premium handsets. Alongwith this, as per the research information, it has been seen that individuals might forced to makea purchase. TASK 41.4 A “Pros and Cons method” table for expanding to Kingston2
Should we expandbusiness Yes, Market place in Kingston proves to be effective andbeneficiary for Eco –Phone as to enlarge their businessservices. ProsScore/10Cons Score/103
Eco-Fone by enlargingtheir area of servicesand operations in themarketplace ofKingston lead towardsgaining large base ofcustomers for theircompany (Abi Ghanemand Mander, 2014.).8In order to expand theirarea of servicing in themarket place ofKingston Eco-Fone isrequired to arrangeefficient amount ofcapital in order toeffectively operate theirfunctions. 7A company engaging inthe offering smart phonein the attractive marketof Kingston caneffectively maximisecompany visibility andbrand value at a marketplace. 6Through the process ofenlarging there businesscompany might facesome legal regulationsand laws framed by thelocal government.6Eco-Fone caneffectively gainnumerous set ofopportunities byoffering their formativeservices in the marketplace of Kingston.Along with this, theycan acquire properunderstanding ofdifferent types of newmarker culture. Inaddition to this,company can hire freshand innovative talentsform the local residencein the respectivecountry. 8Business expansion inKingston bringscompany to face manychallenges related tolanguage barriers thatcan create manyobstacles in the businessoperations of company.6A respective companycan effectively able tomaximise theirconsumer base andration of profitabilitywhile performing theirbusiness at Kingston.7Eco-Fone by expandingtheir business services inthe market place ofKingston also results inincreasing their base ofcompetitors that willaffect its operations inboth direct and indirectway. 84
Total Pros29/40Total Cons27/40Average Pros0.72Average Cons0.67TASK 51.5 Cost of a new building and well-known commercial mortgage lenders in the UKLoan Amount£350000Number of EMIs180Annual Interest Rate0.07Monthly Interest Rate0.00583Monthly EMI Payment£3145.90Total Loan Amount Payable£566261.81Total Interest Payable£216261.81Mortgage loan is related to the money that is paid in advance and debt instrument that isprovided by a bank against possessions of the loan taker (Thomas and Bond, 2014). This loan istaken in order to make a purchase of assets such as, home, land and more. Moreover, in thislender is having a right to forfeit the possessions and property of a loan taker if that individual isunable to pay the amount. There are different types of factor consists in mortgage loan thatincludes, insurance, interest tax and principle. Mentioned below there are some majororganisations engage in the offering of mortgage loan in United Kingdom:1.THINK Business Loans Commercial Mortgages2. B2B Finance.Com Commercial Mortgages5
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