Innovative Products: Foldable and Holographic Phone

This report discusses the business concept, market opportunity, target market, competitive advantage, management team, economics, and investment offering of foldable and holographic phone. It explores the innovative features and potential market growth.

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Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
1, The business concept...........................................................................................................................3
2, Opportunity and strategy.....................................................................................................................4
3, Target market and projections.............................................................................................................4
4, Competitive Advantage.......................................................................................................................4
5, Management Team..............................................................................................................................4
6, Economics...........................................................................................................................................5
7, Investment Offering.............................................................................................................................5
CONCLUSION...........................................................................................................................................5
REFRENCES..............................................................................................................................................6
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INTRODUCTION
For the succession of business innovation is necessary because that will help in attracting
more and more customers. When an entrepreneur is looking to open a business they need to
considered several factors but now there is one addition situation which they need to considered
such as now every person is looking for advance technology for their mobile phone (Blank and
Dorf, 2020). The respective report is based on the innovative products that is foldable and
holographic phone as that will help in attracting more and more customer at marketplace. Topics
include in this report are business concept, market opportunity and strategy, target market and
projection, competitive advancement, management team, economics and investment offering.
MAIN BODY
1, The business concept
The business concept is determined as strategy which includes all the necessary
information about the business. It will include business idea, products or service offering,
promotion strategy, effectiveness of strategy and many more (Calderon, Cunha and Giorgi,
2020). It is essential that firm must develop effective as well as attractive business concept as
that will help them in attracting more audiences and investors for their product. In addition to
this it will also generate huge opportunity for the business growth through which they can
expand their business at the international marketplace. In respect of foldable and holographic
phone which is based on the advance technology through which customer get attracted. The
respective phone is easy to use or it is user friendly as well as it can be fold and kept into limited
space. Along with this respective phone has holographic screen which show 3 D images on the
screen which is user full for the game developer, fashion designer, jeweler designer and many
more. Moreover it also provides more clear as well as effective view which enhances the
experience of entertainment.
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2, Opportunity and strategy
According to this company need to analyze opportunity of their business idea into the
market place as well as they also need to develop strategy accordingly. In respect of foldable and
holographic phone company have great opportunity at the marketplace of Australia because
phone is based on the advance technology and feature as it can be fold as well as it has
holographic screen which show 3D pictures (Hausberg and Korreck, 2020). In addition to this
foldable as well as holographic phone can easy to use which means it is user friendly which
attract more and more audiences.
3, Target market and projections
The target market of company is determined as people for whom they are manufacturing
as well as offing products or services. In respect of foldable and holographic phone their target
market are all age group people (McDonald and Eisenhardt, 2020). Moreover, they are mainly
targeting to the high as well as upper middle income group people. This is so because cost of the
foldable and holographic phone will be comparatively high then other android or normal phone.
4, Competitive Advantage
It refers to the factors which is unique and through which company can gain competitive
advantage or high market shares at the potential market place. In respect of foldable and
holographic phone the competition is medium because there are very less companies who offer
same feature in single phone model.
5, Management Team
It refers to the members who help in conduct business operations and functions in
effective manner. In respect of foldable and holographic phone their management team will
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include top management, middle management, some experts who design phone, programmer,
sales team and many more.
6, Economics
It refers to the funds which are incurred for establishing a business so that all the
operations as well as functions are conducted properly (Prasetyo, 2020). In respect of foldable as
well as holographic phone firm required little high funds because their operations include
machine as well as advance technology which increase their budget. The economic required for
them are approx $70000 because cost of they are adopting advance technology related to
machine and advance technology so they need to have huge funding. Moreover they also need to
hire experts who will manage all operations and functions properly.
7, Investment Offering
It refers to methods which a company may adopt for arrangement of funding. In respect
of foldable and holographic phone they can arrange funds through the bank loan or by attracting
investors.
CONCLUSION
By analyzing above mentioned point it can be summarized that for every person who
want to start its business need to think about new ideas and come up with innovation because
that will help them in attracting more audiences. Moreover, they also need to design their
innovation according to the situation which society is current facing or they come up with their
requirement. In respect of this, now every individual is looking for the innovation as well as
advancement so in order to respective aspect company may launch foldable and holographic
phone.
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REFRENCES
Books and Journals
Blank, S. and Dorf, B., 2020. The startup owner's manual: The step-by-step guide for building a
great company. John Wiley & Sons.
Calderon, G., Cunha, J. M. and Giorgi, G.D., 2020. Business literacy and development:
Evidence from a randomized controlled trial in rural Mexico. Economic Development
and Cultural Change. 68(2). pp.000-000.
Hausberg, J. P. and Korreck, S., 2020. Business incubators and accelerators: a co-citation
analysis-based, systematic literature review. The Journal of Technology
Transfer. 45(1). pp.151-176.
McDonald, R. M. and Eisenhardt, K.M., 2020. Parallel Play: Startups, Nascent Markets, and
Effective Business-model Design. Administrative Science Quarterly. 65(2).
Prasetyo, H. N., 2020. Maturity Level of Business Relation Services Based on Itil Framework in
Digital start up X Indonesia.
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