Mobile Phone Marketplace in UK
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Added on 2021-02-19
Mobile Phone Marketplace in UK
Added on 2021-02-19
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ECO - FONE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a. Brief overview of mobile phone marketplace in UK...............................................................1b. Mixed bar chart for 2016 and 2017..........................................................................................2TASK 2............................................................................................................................................2a. Forecasting use of smartphones in UK....................................................................................2TASK3.............................................................................................................................................3a. Market for smartphone for existing customers........................................................................3TASK 4............................................................................................................................................4Feasibility of expansion by using Pros along with Cons table....................................................4TASK 5............................................................................................................................................5a. Calculation of monthly cost.....................................................................................................5b. Logos of popular commercial mortgage lenders in the country of UK...................................6TASK 6............................................................................................................................................8Testing possible differences.........................................................................................................8TASK 7............................................................................................................................................9Customer satisfaction...................................................................................................................9TASK 8..........................................................................................................................................12Quality procedures.....................................................................................................................12TASK 9..........................................................................................................................................12Conclusion and findings............................................................................................................12REFERENCES..............................................................................................................................14APPENDICES...............................................................................................................................15
INTRODUCTIONIn the dynamic scenario, technology is changing rapidly which influences operations ofsmartphone market by putting pressure in order to adopt such technological changes to survive incompetitive market (Bierlaire, Chen and Newman, 2013). Eco-Fone is an organisation whichperforms operations related with trading in smartphones along with numerous electronicaccessories. Customers avail products of such entity from two shops which are located at Putneyand Richmond. The report includes detailed information about UK's smartphone market, usageof adult smartphones, customer satisfaction, sources or finance, pros as well as cons table toanalyse feasibility to expand business, cost incurred on setting new building and qualityprocedures. TASK 1a. Brief overview of mobile phone marketplace in UK.Mobile phones are considered as electronic telecommunication device which includesfacilities such as voice communications, multimedia message service, internet services and runwith the help of numerous software applications. The use of such devices is increasing with rapidchanges in the international market. The population is the people who widely uses smart phonesin UK and does analyse all information related with advanced applications in smart phones.According to the research conducted through Global Mobile Consumer Survey, 2017, byDeloitte for UK it shows that 81 percent users of smartphone are aware of applications alongwith this 66.67 percent of UK adult population uses single mobile learning application whichreflects that the awareness for smart phones is high (Global Mobile Consumer Survey. 2017). Inaddition, the widely used application is considered as Predictive Text and numerous size ofaudiences have knowledge about it. The another best known applications are voice assistantwhich are used by more than 14 percent people where as 45 percent are aware of suchapplication. Other than this, 29 percent population are aware of route suggestion but only 16percent uses the application. The less popular application is location based suggestions that ispreferred by only 7 percent population. Hence, with the coming time period, the market ofsmartphone users will expand as it is expected that with the changes in technology the users willalso increase in future time period.1
b. Mixed bar chart for 2016 and 2017.Bar charts are graphical representations of categorical data in form of rectangular barshaving lengths that are proportional to represented values (Chiu, 2014). The bar chart for topfour work related activities in smart phones in the year 2016 and 2017 is as follows:Illustration 1: Mixed bar chart for top work related activities by using smartphone forthe year 2016 and 2017From the above chart, it has been analysed that smart phones are mostly used in 2016 and2017 to perform activities such as managing time, accessing intranet, email and making standardcalls. In 2016, usage of email was 41%, making standard calls was 33%, accessing intranet was6% and managing time was 8%. In 2017, the usage of making standard calls is 32%, email is37%, managing time is 6% and accessing intranet is 8%.TASK 2a. Forecasting use of smartphones in UK.2
20122013201420152016201720182019020406080100120Illustration 2: Smartphones used by adults (2012-2019)The above mentioned graph is derived by using linear chart because of its accuracy aswell as clear information depiction that is stated in Figure 3 of UK's adult smartphone usage inDeloitte report, page 13 from the time period between the year 2012 and 2017. The forecastedusage of smartphone for 2018 and 2019 is derived by using spreadsheet and applying the formula[=FORECAST( value; data_Y; data_X) ]. Other than this, if other tools were used such as bar chart or pie chart then it would notbeen possible to calculate future predictions as they only compares things and do not show anychanges within time period (Chun, Lee and Kim, 2012). Hence, line chart is the most appropriateforecasting model as it provides accurate picture of future values using current values. From thepast data, it has been forecasted that the usage rate of smartphones among adults for 2018 and2019 will increase by 9% and 14% respectively. TASK3a. Market for smartphone for existing customers.As the time changes, the use of smartphones is also increases and it will carry forward infuture. As per the reports of Deloitte, the study of market indicates that 71 per cent of peoplehave owned app supportive mobile phones that falls under age group of 55 – 75 years. The3
member group has higher average wealth that influences them to purchase premium handsets.Such age group has faster adoption rate as compared to other groups. 50 per cent of such adultshad installed other applications such as Facebook where as 20 percent population out of thesechecks their smartphones within 15 minutes. The research also says that numerous first timebuyers are forced to make purchase decisions. The identified key features that makes the smartphones more popular among oldcustomers are the followings:Modern smartphone are available with bigger screens as well as louder speakers thatbenefits the old people to see and hear in convenient manner.User friendly interface facilitates easy as well as quickly using mobile applications witheffectiveness by older generations (Nickel, Wirtl and Busch, 2012). Smartphones have numerous applications such as screen lock options, style change,saving contacts number and so on that attracts older customers to make purchasedecisions. The software of smartphones are easy for usage and provides usage booklets that reducescomplexities that safeguard time as well as perform faster activities. TASK 4Feasibility of expansion by using Pros along with Cons tableExpanding the business requires intense market research along with huge capitalinvestments. The given case scenario shows that Eco-Fone company is facing thrivingcircumstances in context to revenues. Such company is currently performing operations with thehelp of two shops that are situated at Borough of Richmond. The managers of such organisationshave undertaken a decision to expand the trading functions across boundaries of UK to Kingstonwhich a city in Canada with the aim to earn higher revenues. Furthermore, pros along with consmethod is adopted to analyse situations associated with cross border expansions. In order toforecast strategies for further expansion, pros and cons of Eco-Fone with the scoring on the basisof importance along with relevance are as follows:4
Thus, from the collected pros and cons helps in ascertaining the market of Kingston toinvest and formulating expansion strategies. The analysed pros are increased brand value,learning new culture, attractive foreign investors, market diversity and so on providesopportunities where as some of the cons are cultural barriers, currency fluctuation risks andhence forth that at some level results in threats (Oh, 2012). The pros are more weighted thancons, it states that expansion towards Kingston will be as profitable decision for the business. TASK 5a. Calculation of monthly cost.The authorities of Eco- Fone has decided to expand the business across border and aremaking provisions for improvements in facilities as well as premises in order to smoothlymerchandising towards Central Kingston Area. T expand the business from local areas to crossborders, huge resources are required and financial managers analyses numerous sources ofmonetary resource such as financial institutions and so on (Perlow, 2012). The calculations ofmonthly costs for repayment mortgages are shown below along with this further detailedcalculations are presented in Appendices.5
From the calculations, it has been ascertained that Eco-Fone is required to pay £566,262for total loan amount with interest of £216,262 for the time period of 15 years.b. Logos of popular commercial mortgage lenders in the country of UK.Some of the mortgage lenders in UK are as follows:NatwestThink Business LoanBank Of Ireland:6
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