Business Plan Report: TI Phone Store - Unbreakable Phone with Sensors

This business plan details the launch of TI Phone Store, a startup aiming to disrupt the mobile phone market with an innovative product. The core of the business revolves around the 'TI-2.0' phone, an unbreakable mobile device utilizing graphene technology, coupled with health sensor application software. The plan covers the rationale for the business, market analysis focusing on the UK market, and competitor analysis using SWOT. It outlines segmentation, targeting, and positioning strategies, alongside a marketing mix that includes product, price, place, and promotion. The report also addresses market growth strategies, resource requirements, and potential risks. The ultimate goal is to establish a competitive advantage by providing a durable and health-conscious mobile solution, targeting middle and upper-class consumers seeking technologically advanced and reliable devices. The business plan emphasizes the importance of customer satisfaction and sustainable practices to achieve long-term success and profitability.

BUSINESS PLAN

EXECUTIVE SUMMARY
Business plan refers to a written plan that includes goals of a business; methods for
attaining goals within time frame are formulated. This report is based on launching a start-up
business for earning higher profits and revenues. In this a innovation is to be done on technology
based product that is mobile phone by using graphene technology along with sensor application
software that help start up business in sustainability and gaining competitive advantage within
business industry. This report includes the business plan for new launching of product so that it
gives profitable results in market.

Table of Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
TASK..........................................................................................................................................................4
BUSINESS PLAN.......................................................................................................................................4
Rationale for launching the business with its vision and mission............................................................4
Macro analysis of market place...............................................................................................................5
Competitor analysis.................................................................................................................................6
Segmentation analysis.............................................................................................................................8
Marketing strategy using marketing mix.................................................................................................8
Market growth strategy............................................................................................................................9
Resource required for venture and sources of finance...........................................................................10
Risk analysis..........................................................................................................................................11
CONCLUSION.........................................................................................................................................13
APPENDICES...........................................................................................................................................14
REFERENCES..........................................................................................................................................15

INTRODUCTION
Business plan defines as an outline map that demonstrate the goals of operation a
business, procedure for accomplishing these goals along with time period for attaining the
objectives (Kailer and Weiß, 2018). In current business industry technology play a major role as
it develops easiness in human being life (Hopp and Greene, 2018) . Present study is based on
innovation done in technology based product that is mobile phone. In this inventor invent an
unbreakable phone which is 300 times stronger than stainless steel along with health sensor
application software that helps in controlling the body temperature as per climate present in
society. This innovation name is “TI-2.0”. After building this as an idea, inventor convert it into
start-up business i.e. TI phone store so that high amount of profits is earned. This report includes
business plan for new unbreakable with sensor application phone.
TASK
BUSINESS PLAN
Rationale for launching the business with its vision and mission
The rationale of launching a business is to gain high profits in markets that help in
developing living standard of owner in marketplace (Mariani, Bartoloni and Morelli, 2019). The
main reason for opening a TI phone store is to provide innovative phone that are highly
beneficial for middle and rich class people. It offers a sustainable phone to people in the form of
unbreakable manner along with health benefits by using sensor application software. The reason
behind launching this technology based product is to provide convenient life to people so that
they connect with large audience in all over the world along with safety of health. The vision of
launching the TI phone store is to provide sustainable phone to people for gaining high profits
and revenues along with beating rival firm in markets. The mission of TI phone store is to
provide innovative product that is useful to satisfy a customer’s needs and demands. It is very
essential to satisfy the needs and wants of customers because it helps in longer sustainability of
company in marketplace. TI Phone store is working on their vision and mission for this they
prepare business plan so that targets are attained on time.

Macro analysis of market place
UK is a country that plays a major role in technology market epically in mobile
technology. Due to increasing technology a newer specifications mobile phones are present in
market for consumers. In context of TI phone store the macro market analysis can be
demonstrate below:
 Political factor- This includes the political situation of a nation that affect business
industry and market (Barrow, Barrow and Brown, 2018). In terms of launching a new
start up for manufacturing an unbreakable phone with health sensor application software
the current political status of UK is stable that supports technology industry to high
manner. Due to which it becomes an opportunity for TI phone store to launch a
technology based product. It is very essential for while preparing business plan because
political stability affects company operations.
 Economical factor- In UK mobile industry plays a crucial role in economy of nation. It
grows very rapidly because of technological advancement present in UK (Hervert-
Escobar and Alexandrov, 2018). This industry contributes more in UK economy because
spending power of customers is high (Pestle analysis of UK mobile industry, 2020). In
context of TI phone this factor is an opportunity because of effective buying power of
customers. In this firm provide unbreakable with health sensor application software
phone to people in hopes of modern computing environment to customers. This
contributes mainly in economy and it benefits to company also in marketplace.
 Social factor- as people in UK are highly trendy and it is highly beneficial for mobile
technology industry because people use mobile phone not just to interact with people but
also show care for loved ones, individual peace of mind etc. It helps TI Phone store
because society play a major role in success of business so that firm highly emphasis on
caring customers by fulfilling their demands. It helps people to conveniently live their
lives (Azinheiro, 2019). This directly helps new start-up firm innovation that is done in
mobile phone in positive manner so that they place their good market position. Firm
provide unbreakable phone inserting health sensor application software to customer
which is highly sustainable and also helpful to control heart beat so that customer lives
their life healthy. It provide profitable results to company.

 Technological factor- In 21st century technology is boon to all industry and helpful to
capture large market. In manufacturing of mobile phone technology is highly advanced.
In terms of TI Phone store, they manufacture unbreakable phone by using high-quality
graphene technology in producing the phone so that it cannot be break or crack along
with health related sensor application software that provides healthy life to people by
tracking their body temperature when person place their phone on wrist. This
innovation by using technology helpful in gaining profitable market in business industry.
Competitor analysis
It refers to that analysis which is used to formulate the relationship with market and
gaining competitive advantage within business industry (Calvo Velasco, 2020). In this TI Phone
emphasis on conducting competitor analysis by using SWOT analysis so that company examine
strength and weakness in terms of assessing internal factors and opportunities and threats in
terms of examine external factors. The SWOT analysis of new business along with their products
is presented below:
Strength Weaknesses
o The major strength of TI- 2.0 mobile
phone is that it is unbreakable in nature
because in this advanced technology is
to be used that is Graphene which is
highly stronger than stainless steel
along with heart sensor application
software that track a person body
temperature by placing phone on wrist
(Dawes, 2018). It helps TI Phone to
gaining competitive advantage within
mobile industry. Having innovative
technology is the best strength of
company.
o Another major strength is that the new
offering is very easy to use that helps
o The major weakness of TI-2.0 is that it
is highly expensive due to innovation
and design that is not affordable to
lower class people that highly affect the
company sales (Schawel and Billing,
2018).
o Due to new startup of business gaining
customer trust is quite difficult is that
major weakness that is faced in
marketplace.

TI Phone to get high sustainable results
in market (Jensen and Aven, 2018). It
also helps in gaining competitive
advantage in business industry.
Opportunities Threats
o The major opportunity is the fastest
growing technology mobile market due
to this it provides benefits to TI Phone
and their innovation that is TI-2.0.
o High base of customers who focus on
purchasing a sustainable phone that is
not breakable is the major opportunity
for new innovation because it is highly
stronger that cannot break even after
dropped out by hand (Goerlandt and
Reniers, 2018).
o The main threat is the number of
competitors is present in marketplace
that is also working for offering
innovative mobile phones to customer
(Chen and et. al., 2019).
Hence, using SWOT framework for competitor analysis it is best way to develop or plan
strategy so that firm will gain competitive advantage and maintains strong relationship with
customers.
Competitive advantage is enjoyed by new start up in their survival as they offer innovative
mobile phone to customers. It is because the product is distinct from competitor’s products in
this specifications and sustainability (Teoli, and An, 2019). For instance- If a person phone
dropped out he/ she actually feel hurt and depressed and if the phone is too expensive they got
depressed and de-motivated. To solve this issue TI Phone focus on manufacturing unbreakable
phones that looks attractive and also 30 times stronger than stainless steel along with new health
sensor application software that track a customer’s health when they place their own phone on
wrist. This will attracts number of customers and prominent to get success in marketplace. It also
helps in gaining competitive advantage within UK market.

Segmentation analysis
In market there is a need of sustainable phones because in 21st century all essential work,
projects are done through phone along with entrepreneurs are done their business by using
phone. If it is broke or dead than people feel hurt and irritate because their work stop (Hajizadeh,
2019). Most of people does not know password for many application ad if phone is broke it also
get suffered. To resolve this issue, an inventor invents an unbreakable phone using graphene
technology along with health sensor application software that senses our wrist to track body
temperature. Hence in this case, segmentation analysis would be used:
 Segmentation – In this market would be bifurcated into geographical, demographical and
behavioral manner (Ervural and et. al., 2018). In this TI phone segments, the market on
individual person income basis. That can be sale in allover UK. On the basis of
Behavioral segmentation TI Phone groups customers on their purchasing habits, loyalty
to brand.
 Targeting- Moreover, in this step TI Phones would targets middle class people especially
in urban areas of UK , who are associated with the age group of 18-40 having moderate
level of income (Anning-Dorson, 2018). In simple terms they target especially middle
class people who focused on buying sustainable phone that work for longer period of
time.
 Positioning- In this term TI Phone would promote their brand using social media where
huge audience are active that helps in gaining competitive advantage along with high
profit margin (Anwar, 2018).
Marketing strategy using marketing mix
Marketing strategy is an overall plan to reach the potential customers and turning them into
loyal customers for company (Selig, 2018). In terms of effectively market the innovation in
mobile phone there are several marketing strategies for new offering that is ‘TI-2.0’. XI phone
store prepares a marketing strategy by using marketing mix that is demonstrated below:
 Product- In content of a new launching firm TI Phone the product strategy is product
diversification in which an organization is focuses on offering new technological
innovation in mobile phone by manufacturing unbreakable phone using graphene

technology along with health sensor application software that tracks the health of a
person by placing a phone on wrist (Ndofirepi, Farinloye and Mogaji, 2020).
 Price- In terms of pricing, price skimming strategy is to be used by the company that
highly adopted by TI Phone for selling their new innovation phones that are sustainable
and care-taker of a person in nature (Solimun and Fernandes, 2018).
 Place- In terms of place the company provide their products using offline medium in a
retail manner and also adopting online medium as e-commerce channel (Chit, 2019). In
terms of selling phones on online media firm adopts cargo services for shipping along
with online mode of payment.
 Promotion- It is very essential marketing strategy that company would adopts for
attracting large base of customers. In terms of TI Phones firm adopts the social media and
search engine optimization strategy to market their new innovative products to customers.
This would also helpful in gaining competitive advantage along with high profits and
revenues.
Market growth strategy
Market growth strategy is a term that helps in attaining a higher level of market share. In
terms of it, TI Phone using ansoff growth matrix because it is highly useful to examine the
growth in market and retaining the customers for TI-2.0. Factors under ansoff matrix are
presented below:
 Product development- In this strategy firm develops new product for selling it in current
market (Topal Yılmaz, 2019). It is adopted by TI Phone by doing effective and extensive
research on market. In this firm invest high amount to hire an expert who research the
market properly and produce innovative product that attracts people attention in UK
market.
 Marketing development- According to this strategy company sell their existing products
in new market. In terms of TI Phone, it means expanding business in outside UK where
the company has not any commercial presence at that place. The firm success is
dependent upon; if it has access to proprietary technology that helps in enhances business
competitiveness in marketplace. Due to market development company can attract more
new customers that give profitable growth to firm by using TI-2.0.

 Market penetration- In this strategy, company introduces their existing product in
existing market. Firm uses this strategy to develop market share and it is done by
reducing the price of product so that new customers are attracted towards it. For starting a
new business this is not useful because there are no existing products.
 Diversification- It is highly risky strategy that could be adopted by TI Phone. In this
company need to enter into new market with new innovation (Ullah, 2019). It is a perfect
integration of product and market development. In terms of TI Phone, if they adopt this
strategy that are associated with analyzing potential synergies within current market and
new market.
Out of above these factors, TI Phone adopts the product development strategy for facing
the high growth in marketplace. It helps the company to gain more profitable results by
retaining customers to more time period.
Resource required for venture and sources of finance
 Human resources- It is an essential resource that are needed for opening a venture and
attaining targets within that business (Motta and Sharma, 2020). In terms of TI Phone that
is a new start up in UK need human resources so that they manufacture TI-2.0 effectively
as an inventor done. Some essential human resources are presented below:
o Managers- It is very essential human resource that is required by business
venture. In terms of TI Phone, firm needs 2 managers who are highly responsible
for managing and organizing all other resources and activities. It helps in better
development of innovation in offerings.
o Employees- These are working for manufacturing, packaging, promoting the
offering of business venture. They are also focus on small details related to
maintain quality as per legal and industrial standards so that firm will get
sustainable results in their future. In this firm around 50 individuals are needed
that are working for development and distribution of new product.
o Website developer- It is essential human resource that a new business needed
because it is essential to marketing the company and their offerings for
development. In this company need search engine optimization and Google
analytics.

 External resources- There are various external resources that have been needed in order
to assure that the offering is being developed according to the legal requirements. In this
firm also need to focus on competence that is essential for company and their products to
sustain (Jachnik, Mirabile and Dobrinevski, 2019). To fulfill this aspect business entity
must hire a lawyer who focuses on all assessment for overall growth and development
process in a legal manner. In this business must hire a consultant who enlightened whole
company related to advanced and new features associated with technology and several
applications and procedures that are to be used to develop the new offerings.
 Financial resource- It is one of the essential resource that is required for venture in
everything. From set up business activities, manufacturing products and services to
promoting offerings. In terms of TI Phone company need to focus on launching their new
innovation in market that is unbreakable phones with heart sensor application software as
a additional feature. In this manager of firm focus on examine the source of funds. As
there are various sources of funds such as bank loan, venture capital, retained earning etc.
in this TI Phone adopts the use of bank loan for funding the business in relation to
manufacturing of TI-2.0. Bank loan is highly suitable for production and distribution of
new innovation in UK market. It is safe and secured type of source because in this
interest is to be fix due to which company pay it on timely basis.
Risk analysis
Risk analysis is a process of analyzing the likelihood of adverse impact on the business. It
is a study of uncertainty on given course of action so that it can be overcome within time frame
(Rodrigues, 2020). To analyze the risk within TI Phone, risk analysis matrix model is to be used
that are demonstrate below:
RISK SEVERITY CONSEQUENCES ACTION
TAKEN
TIME FRAME
Technological
failure
This risk is low
because
company
ensures that all
technological
The consequences
of this are create
high level of
customer’s
dissatisfaction and
In this firm
invest on
research and
development so
that optimum
It is to be
resolved in the
period of 3
months.

factors that are
used in company
are updated. But
due to frequent
changes occur in
market related to
technological
advancement.
lack of
productivity.
utilizations of
resources can be
done and
updated
technologies are
used in
manufacturing of
offerings and
managing
activities within
company.
Ineffective
Employee
It is to be
analyzed that the
severity of risk
in this is high.
The main
consequences of
this risk are present
in production of
products due to
ineffective working
of workers and
improper
management
production and
distribution is done
effectively.
In this company
offers attractive
salary to
employees and
effective
working
environment so
that they work
properly and
productively.
It could be done
in medium time
frame.

Lack of
Investments
In this
investment are
low due to
which risk
severity is high.
Due to which a
venture has to face
major loss and
closing.
In this company
can take the loan
from bank so
that issue related
to lack of
investment is to
be resolved.
It includes
around 6 months
of time frame to
resolve the issue
and overcome
the severity of
risk.
CONCLUSION
From above analysis it is concluded that launching a new business is very prominent for
gaining competitive analysis and earning high amount of profits. This report inculcates business
plan that is highly significant for attaining the goals on specified period of time. In this report a
new innovation is done that are associated with technology based products. It is because
technology is highly trendy in 21st century. In this business plan several terms are included which
are useful for growth and development of new product in marketplace. In this company focus on
analyzing macro environment by using pestle analysis along with competitive analysis by
implementing SWOT analysis so that firm faces high growth in market and gaining competitive
advantage in business industry. Further it also acknowledges source of funds includes required
resources for company. In this marketing strategy also included that provides profitable result in
longer sustainability. At last risk analysis is to be done for eliminating the risk and enhancing
opportunities.

APPENDICES
From above explanation of marketing mix it is to be analyzed that it is highly essential
and effective for business venture to get an profitable result in marketplace. These strategies are
highly useful to gain competitive advantage and attracting number of customers within short
period of time.

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Online
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