Managing and Developing Innovations

Running head: MANAGING AND DEVLOPING INNOVATIONS
Managing and Developing Innovations
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1MANAGING AND DEVLOPING INNOVATIONS
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
Market and Customers, Market Size and Trend..........................................................................2
Target Market and Consumers.....................................................................................................3
Competitive Analysis and Estimated Market Share....................................................................4
SWOT Analysis.......................................................................................................................4
Porter’s Five Forces.................................................................................................................5
Financial Forecast........................................................................................................................6
Profit and Loss.........................................................................................................................6
Cash Flow................................................................................................................................6
Breakeven Analysis.................................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
Appendix..........................................................................................................................................9

2MANAGING AND DEVLOPING INNOVATIONS
Introduction
The product designed and developed is an idea which will enable the company in creating
a new technology whereby the customers will be benefited with various types of technological
support will be supported in solving their daily operational activities. Connectivity and
technology are the two main aspect that brings together various operational work and activities
together. Various daily operations of the tasks can be better dealt with the help of the smart
phone application (Shen et al. 2018).
Discussion
Market and Customers, Market Size and Trend
The market size of this business is currently huge where the venture can explore enough
opportunity in the context of users & industry growth aspects. The service provided by the
company will be in the form of digital services in the form of mobile subscription allowing the
company to charge application fees in the form of mobile subscription fees (Aydalot and Keeble
2018).

3MANAGING AND DEVLOPING INNOVATIONS
Figure 1: Global Population by Age Group
The mobile subscription growth in Australia has been around 1.8% that states around which in
contrast to the growing population of 1.3% is much consistent and attractive. In the initial stage
of operation Australia will be the primary source where the company will be conducting its
operations. The market size of the users actively using smartphones and regularly uses internet
and other technical stuffs is around 4.87 billion. The future growth rate and acceptance of the
services by the consumers will be solely dependent on the rising mobile subscription and tech-
pro customers who are happy managing the various operations and activities with the help of
tech-pro services (Rüßmann et al. 2015).
Target Market and Consumers
The target consumer age will be of the age group 16-64 who actively uses the
smartphones and various other technological apps for their daily activity. It is accounted that
around 64% of the population of Australia will be the key target consumer size who will be
taking an active part in the usage of the services (Kumar 2017).
Figure 2: Annual Digital Growth in Australia