Entrepreneurship Report: Vivid Communication Mobile Phone Project

This report presents an entrepreneurship analysis of Vivid Communication, a company launching a novel transparent mobile phone. The report begins with an executive summary, followed by an introduction to the company and its innovative product. A detailed business model canvas is provided, outlining customer segments, value propositions, channels, customer relationships, key activities, resources, partners, cost structure, and revenue streams. The report then delves into a feasibility analysis, covering market, technical, financial, and organizational aspects. Key features of the phone include a transparent display, sleek design, and high-end specifications. The report highlights the importance of the product's unique design and luxurious feel, positioning it as a fashion statement. The company plans to use Amazon as an exclusive distribution channel and implement a comprehensive marketing strategy. The report concludes with an overview of the company's structure, costs, and revenue projections. The report is a contribution to Desklib, a platform providing AI-based study tools.

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the Student
Name of the University
Author’s note

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Executive Summary
The idea of a new business is very lucrative initiative but there are several factors that an
entrepreneur should keep in mind in order to conduct a business. An entrepreneur is a person
who not only initiates a business but also has leadership abilities and is also far sighted. In this
report the business idea that has been developed is of a new kind of mobile phone which looks
feels and works unlike any other mobile devices that are available in the industry. It is a
benchmark product which is the brand child of two friends. The product was in the prototype
stage for five years and now has been in the manufacturing unit. It is set to release in the mid of
2018.

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Contents
Introduction......................................................................................................................................4
Business Model Canvas...................................................................................................................6
Customer Segments:....................................................................................................................8
Value Proposition:.......................................................................................................................8
Channels:.....................................................................................................................................9
Customer Relationships.............................................................................................................10
Key Activities............................................................................................................................10
Key Resources...........................................................................................................................10
Key Partners...............................................................................................................................10
Cost structure:............................................................................................................................11
Figure: Cost structure................................................................................................................11
Source: Author’s creation..........................................................................................................11
Revenue Structure:.....................................................................................................................12
Feasibility analysis.........................................................................................................................13
Market feasibility:......................................................................................................................13
Technical feasibility:.................................................................................................................13
Financial Feasibility...................................................................................................................14
Organizational feasibility:.........................................................................................................14

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Conclusion.....................................................................................................................................15
Reference list:................................................................................................................................16

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Introduction
The name of the company has been decided by the owner of the company is Vivid
communication and this is the name the company has been incorporated in accordance to the
legal rules and regulations that are required to set up the company. The owners of the company
are friends from college, both have a technological background, where one of them is working in
the communication technology department for over ten years the other worked with Microsoft
for over 20 years in the research and development sector (Kiel 2014). Two of them came up
with a business idea of combining technology with glamour and create a cell phone that becomes
a symbol of style and fashion. The idea of the product is to create a mobile device that has a
display that is transparent, giving it a sleek chic style look along with the specification of the
latest trend. The idea of the product was in a prototype version for a long time as it was difficult
to manufacture the technology on a large scale initially. This cell phone is going to be the first of
its kind and is going to prove as a benchmark product in the mobile phone industry. It is going to
have all the features that a customer’s expects form a Smartphone starting from hardware
specifications like light weight, sturdy and durable, ergonomically designed as well as long
battery life. The feel and touch of the phone is going to be exceptionally luxurious. The company
will also provide with the latest technology in the software upgrade (Kuratko 2016). The phone
will run on the Google android platform with the latest Google nougat platform and will have the
inbuilt “ok Google” facilities along with several others that are available in a high end phone.
The display of the phone is going to be transparent as in a person can see through the display of
the phone. The phone is going to have the circuits and buttons on the panel that is built on the
sides of the phone giving it a chic look. The side panel will be available in three variants: matte
black, gold and matte white. The logo of the company will be at the bottom panel. The panels

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that will have the circuit will have a premium metal finish in order to make it sturdy and compact
(Kassean et al. 2015).

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Business Model Canvas
Developing a business model is essential for an organization as it has the capability to
show the higher management of the organization a path that has to be followed in order to
achieve the vision and mission of the company. Creating a business model canvas will give the
management of Vivid communications the arrangement of a business plan without the
complications and extra information. It is a simple and more contemporary method of
developing a business plan (Kassean et al. 2015)..
For vivid communication the business model includes four main elements the organization, the
product or service that is involved in the business, the end consumers and the revenue of the
company. The product that is being offered to the consumers is a mobile device. It is in the
category of a Smartphone. There is high intensity competition in the market for Smartphone.
Every year giant companies like Apple, Samsung, MI, Google etc are coming up with devices
which are not only high in technology but is also user friendly and agronomical hence it is
important for the company to develop a plan of action (Dudin et al. 2015).
Keypartners Key activities Value proposition Customer Customer

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 Cornin
g
 Amazo
n
 Press
conference
and launch
 Looks and
design
 Technology
 Luxurious
relationship
Third party
help
segment
 High income
group
 Accustomed
with using
high end
products
Key resources
 Manufacturing
unit
 Employees
Channels
Amazon
delivery
service
Cost structure
 Raw materials
 Manufacturing
 Salaries
 Partnerships
Revenue structure
 Sales
 Collaborations
 Partnerships
Figure: Business Model Canvas
Source: Authors creation

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Customer Segments: The targeted customers of the company are people who are both tech
savvy and are also lean towards high end fashion brands. The target market of the brand are
people who are from the higher income group and are willing to spend that extra buck to have
the best and the most unique mobile phone in the market. These people are those who are
constantly in the search of new and improved products in the Smartphone industry. The targeted
customers are people who like to be associated with luxury brand and are a part of a band wagon.
The mobile is going to show off the class and the taste of the person along with the fact that he or
she is technically advanced than anyone else. These people may be located at any place in the
world as the company will ship the products to the person via Amazon. The target market also
includes people who are attracted towards good looking and fashionable items as it is a brilliant
fashion accessory as well, the state of the art design of the product will enhance the status of any
person who is caring the device (Toro-Jarrínet al. 2016).
Value Proposition: The key activities of the company are focused in its unique design and high
end technology that is used to manufacture that design. The display of the phone is going to be
transparent which means that the person who is using it will be able to see the through the glass,
the company along with Corning Incorporated has created a gorilla glass which will ensure that
the device is sturdy and durable even through it looks fancy and delicate. The glass will be
bordered by a panel which is going to have the circuits and battery of the phone. The looks is not
only what the device will have it will run on latest android version along with heavy duty battery.
The device does not come with only the aesthetic appeal it is also a ergonomic and useful device.
Every Smartphone company promises to deliver balance in between the aesthetic appeal and the
user utility but what sets this phone apart is the stark difference in its look. It is unlike any
mobile in the market as far as look is concerned (Joyce and Paquin 2016).

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The idea is to promote the glamour and the fashion quotient as the unique selling
proposition because the transparent design is itself is a proof of the technology that is used. It
will be luxurious and grand.
Channels: The mobile will be exclusively launched and available in the Amazon platform only.
The availability of the mobile will be lesser at the begging in order to create buzz and have a
niche market established. For the first few months the mobile will be available in Australia then
US and then in the European and Asian market. Distribution of the product at the right time and
in the right place is one of the most important decisions a company needs to decide. Distributing
the product through an online e-commerce site is both a saving and also a tactics of being
exclusive as the number of units will be limited and still the site will show the product and flash
out of stock which will create demand and buzz around the target market. The company will
launch its official retail stores but until then Amazon will be the exclusive distribution partner of
the venture (Muhtaroglu et al. 2013).
For marketing and promotion the company will leave no stone unturned as the marketing
is significant to communicate to the target audience why do they need a new phone, what is
unique about it, what will it say about the personality of a person using the mobile and how can
this mobile phone be useful for the target market. Starting from traditional advertising medium
like television, radio, news paper, magazine will be incorporated in the venture along with a
massive digital marketing campaign which will only focus on creating the brand and adding the
glamour and fashion touch. Next is public relation, the company will be engaged in a lot of
public relation activities where it will give opportunity for the target market to use the mobile
and compare it with some of the best devices that are available in the market (Vargas et al.
2015).

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Customer Relationships: Customer service is crucial for a mobile device company a
technological product will be bought by the people only if they think that in case there is a
problem there will be a support or a solution immediately. The company is niche and the
products will be limited initially the service that will be available for the customers will be in
partnership with a third party whose office is present in the countries that the product is available
(Zolnowski 2016).
Key Activities: In order to highlight the looks and the glamour quotient of the mobile the
company can launch a press conference and launch event to bring the look of the device up front.
Usually Apple and Samsung have a seminar which is like a lecture but this is going to be
different it will be more like a fashion show (Muhtaroglu et al. 2013).
Key Resources: The technology and the design of the mobile device itself is the main asset that
the company owns, the design and the technology that is used by the company in order to
manufacture the phone will be patented and hence the uniqueness of the device will be restored.
The owner of the company handpicked the people in the research and development sector as they
regard that this department to be the backbone of the company and hence they are also one of the
main
Key Partners: The company has to focus on building a phone that is full proof, strong and
durable in order to keep up to its promises. and Amazon are the two important suppliers and
distributors of the company the glass that is going to be featured in the phone is a special type of
gorilla glass that the company will supply to the organization on order to manufacture the phone
and this will be a point of highlight as well. Aforementioned that Amazon will be initially the
only platform where the phone is going to be available for the customers. Amazon is

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multinational e-commerce site that specialized in electronics and technology and hence this
partnership is meaningful for a technology company (Joyce and Paquin 2016).
Cost structure: There are several expanses of the company starting from manufacturing to
supply
Expenditure Amount in A $ (million )
Administration 0.5
Research and
development
9.5
Marketing 15
Manufacturing 25
Total amount 50
Figure: Cost structure
Source: Author’s creation