Lowest guaranteed price across the globe. Get upto 50% off ! Book Now

BUSD1001 Eco-Fone Smartphones

University: Regent College London

  • Unit No: 11
  • Level: High school
  • Pages: 14 / Words 3462
  • Paper Type: Dissertation
  • Course Code: BUSD1001
  • Downloads: 53
Question :

This assessment will cover following questions:

  • Provide an overview of the market of mobile phone in the UK.
  • Eco-Fone is a smartphone company. State the processes which is required enhance the sales and operations.
  • Describe the appropriate model for the forecasting of the Eco-Fone sales.
Answer :
Organization Selected : Eco-Fone

INTRODUCTION

Smartphone is considered as an electronic device that is broadly utilised through whole generation as this is portable as well as have multi purpose functionality characteristics which may be utilised for several intent such as entertainment or surfing (Athes, 2019). As per the scenario, the selected company is Eco Fone which deals into smartphones as well as another accessories related with phones. It sells their products into two shops within Putney and Richmond. With growth opportunity, firm is planning to extend its operation in Kingston with an aim to maximise market share. Within this report, formative discussion is done upon product, customers and finance related information in respect of Eco- Fone. Moreover, the smartphone market current situation into UK is also discussed in this report.

Analysis of Issues for Eco-Fone Smartphones

1.1 An Overview of the Mobile phone market in the UK

According to the survey performed thropugh Deliotte, this have been assessed that the smart phone is enhancing with faster rate. This drives towards impressive raise into the volume of sales by 1.5 billion at annually basis. At present times, there are 58% of adult person within respective industry who are using smartphone into United Kingdom as well as according to investigation there is higher demands of this index will develop approx 90% within the year 2020. The enhancement into number of person grab the attention towards smart phones as technology is performing as a most essential part into each and every person life. As it assists individuals to perform its day to day activities in very easier manner. Smart Phone facilitates various advantages with the assistance of which person may perform its task in more efficacious way (Balzer, 2015). Presently, there are above 33.5 million people who are doing jobs as well as among which 32 million person do its job with the assistance of Smart Phones. With the usages of smart phone into their daily activities, people may efficaciously perform its task in faster as well as effective manner few of these practices involve E-mail, messaging, calender management and others. Moreover, old age people groups are also taking the benefits of smart phone as a means of entertainment. Need assignment help? Take our experts help!

1.2 Forecasting the UK Adult Smartphone use

According to the performed survey, this have been analysed that 17% population are the estimated number into an age group of 16 to 24 who are utilising as well as keeping check its smart phone several times that is 200 times into day. In addition to this, similar age of person claims which that they keep on check in its smart phones in approx 200 times into a day. Moreover, the performed surveys reflects a light upon a facts that in about 34% of person who are in an age group of 16 to 75 are very much addicted towards its smart phones as well as regularly utilising this without taking its meal as well as spends their time with friends an family members. Also, this type of similar practices is identified in among 49% of overall population within the age group of 16 – 24. into an age group of 16 to 75, 115 of person spends its time upon smart phone even while they are crossing the roads as well as 53% perform the similar things when it walks on road (Global mobile consumer survey. 2017). Therefore, this have been examined that an age group of 16 – 75 is utilising smart phone so much in comparison to another age group of person.

1.3 Smartphones - A potential market for older customers

As per the view point of Leo kelion, in year 2017 the sale of smart phone is enhancing regularly into a group of older customers within a territory of United Kingdom according to case given. Moreover, there are about 71% of older customers that lie under the age group of 55 -75 is using smart phones and also it have been observed that person under similar age group is adapting technology in much faster way in comparison to previous 5 years. It has been researched that some first time buyers might felt for forcing the purchase of products and services. One industry watcher highlight that some of older population gain benefit from the changes made during the smartphones over the recent time in order to achieve potential outcomes. In addition to this, according to the research whose sample size is 1,163 which have been performed through Deloitte this have been examined that while doing comparison among youngsters person of age group of 55 – 75 is so much addicted towards smart phones (Smartphone sales boom with over-55s, 2019). Moreover, person who are having its wealth average of above normal tends for purchasing premium handsets (BIANCHINI, GOMES and SOARES, 2017). In addition to this, according to research data, this have been observed that person may forced to make a purchase.

1.4 Feasibility of Expanding business to Kingston using Pros and Cons table 

Should we expand our business to Kingston?

Yes, market area into Kigston proves to be efficacious as well as advanategeous for Eco – Phone as to explore its business operations

Pros

Score/10

Cons

Score/10

Eco – Fone through enahncing its services as well as operations areas within Kingston market area whcih drives towards enhancing huge base for consumers for its firm.

7

For expanding its servicing areas within market areas of Kingston, respective organisation needs to organise effectual capital amount for efficaciously to perform its functions.

6

A firm involving in providing smart phone wiithin attractive marketplace of Kingstom that may efficaciously enahnce entity visibility as well as brand value into market area.

7

By this procedures of expanding their enterprises, firm mat face few legal regulations as well as legislation which is framed through local government.

7

Eco – Fone may effectually obtain various opportunities through providing its formative serv9ices within market area of Kingston. In addition to this, it may obtain approprioate knowledge of sveral kinds of new market culture. Moreover, firm may recruit fresh as well as creative talents from local residence within Kingston.

7

The expansion of business within Kingston for facing various challenges associated with languages barriers which may develop various hurdles into business operations of firm.

5

Eco- Fone mat efficaciously capable to ehnace ist customer base as well as profit rationale while doing its business into respective organsaition.

6

Eco – Fone through exploring its business services within market areas of respective country also outcomes into enhancing its competitors bases which will impact their operations into both direct as well as indirect manner.

7

Total Pros

27/40

Total Cons

25/40

Average Pros

0.67

Average Cons

0.62

Recommendation:

It has been recommended that for an organisation it is very much essential to bring with new products and services and by collecting necessary knowledge and information in order to gain desirable outcomes. It has been recommended that respective technology should be positively implemented in the market by collecting the necessary knowledge so that desirable outcomes should be achieved. 

1.5 Costs of a New Building

Eco- phone expand their business form Putney as well as Richmond to Kingston which needs monetary resources for which the firm may examine various sources of funds such as financial institution. Moreover, into repayment process entities may pay back the principle amount with interest into instalments (Bonfim, 2017). The computation is discussed below:

Loan Amount

£350000

Number of EMIs

180

Annual Interest Rate

0.07

Monthly Interest Rate

0.00583

Monthly EMI Payment

£3145.90

Total Loan Amount Payable

£566261.81

Total Interest Payable

£216261.81

Formula:

EMI= (P X R/12) X [(1+R/12) ^N] / [(1+R/12) ^N-1].

Mortgage loan is considered as money which is paid in advance as well as debt instrument which is rendered through bank against possession of loan taker. It is the loan that is undertaken for making purchase of assets like land, house and others. In addition to this, into this lender have a right for forfeiting the possessions as well as property of loan taker in case those person can not able to pay the amount (da Silva and Mercado, 2015). There are several kinds of aspects that includes into mortgage loan such as interest tax, insurance as well as principles. Moreover, mentioned below there are few major firms involves within mortgage loan into UK such as Think business loans commercial mortgage, HBSC- UK mortgage lenders, Royal bank of Scotland commercial mortgages and many others.Get essay writing services UK to achieve better results.

1.6 Testing the Possible Difference in Net Takings in the Two Shops

Eco – Fone is involved within business of providing smart phones as well as accessories at discounted rate into their two retail shops that are Putney as well as Richmond. By it initial shop firm has produced 100 Euro profitability while from 2 nd one 90 Euro have been produced. But in this respect, there is a sample size of 40 are considered as well as in these their both shops standard deviation was 20 Euro and 0 Euro coincidentally. Thus, this have been observed that from whole analysis an owner of first shop have obtained more profitability in comparison to the second one (Eco-Edição, 2017). As with raise into sample size as well as mean there is an expectation to minimise within variability. Therefore, both shops did not obtain actual new profit. Thus, this is a vital for second shop to redesign its plan of action as well as policies and provides its goods at discounted rates.

First shop-

Mean = £100

Standard deviation = £ 20

Coefficient of variation = standard deviation / mean * 100

= 20 / 100 *100

= 20 %

Second shop-

Mean = £90

Standard deviation = £40

Coefficient of variation = Standard deviation/mean * 100

= 40 / 90 *100

= 44.44 %

It has been evaluated that efficiency of first shop is about 20% on other hand efficiency of second shop is 44.44% so it is elaborated that fluctuation come due to difference in mean as well as standard deviation.

1.7 Customer Satisfaction

Customer satisfaction is considered as the marketing term which measures how goods or services is supplied through entities accomplish or surpass a consumer's desires (Figueiredo and et. al., 2018). This is essential as it facilitates business owners as well as marketers with a metrics that it may utilise to maintain as well as improve its enterprises.

1. When was the last time you purchased a product or services from us?

  • Within the last month
  • Between 1 month and 3 months (.)
  • Between 3 and 6 months
  • Between 6 months and 1 year
  • Never

2. How long have you used our products/services?

  • Fewer than 6 months
  • Between 6 months and 1 year
  • Between 1 and 3 years (.)
  • Between 3 and 5 years
  • More than 5 years
  • Never

3. Please rate us on the following: (Please tick one: excellent=4, Good=3, Fair=2,poor=1)

Basis

4

3

2

1

Customer service/support

 

(.)

 

 

Quality of products/services

(.)

 

 

 

Sales staff

 

 

(.)

 

Price/value

 

(.)

 

 

4. How would you rate your overall satisfaction with us?

  • Very satisfied
  • Satisfied
  • Neutral (.)
  • Dissatisfied
  • Very dissatisfied

5. How likely are you to continue doing business with us?

  • Very likely
  • Likely
  • Neutral
  • Unlikely
  • Very Unlikely

6. How likely are you to recommend our products/services to others?

  • Very likely
  • Likely
  • Neutral
  • Unlikely
  • Very Unlikely 
Recommendation:

When research is performed, this have been asked to respondents that at last time they had purchased anything from them as well as their respondents is among 1 and 3 months. The second on is related with product usages duration that is among the duration of 1 to 3 years as well as this represents a pessimistic affects upon firm in respect to time duration of utilising phone is not more. Into third questions, various things are considered like products quality, staff of sales, price or value and consumer services (Gera and et. al., 2018). It represents that whole consumer experience from their purchases to purchasing services is associated to goods.

In addition to this, the fourth one is related with whole consumers that is neutral. Therefore, Respective organisation has to considered few major steps so it may satisfy them. But because of product as well as consumer base value few firms are agree to perform business with them (Haranich and Frolov, 2017). The last question is regarding recommendation of Eco- Fone goods or services to another as well as consumers will perform it due to its product value.

1.8 Quality Procedures

Poison distribution is associated with statistical distribution of potential duration where an event happen into a time duration. Statistical distribution is performed for independent event which occurred number of constant duration (Horn, 2015). This have been assessed from quality process of Eco-Fone, average is computed where cumulative frequency of obtaining cheques from person is get. Herein, there is potential modification for meeting the level of quality assurance process as within this whole of 3invoices may distinguished the estimated amount of invoice return for the firm such as Eco-Fone.

Read more: BSBMKG501 Identify and Evaluate Marketing Opportunities
MN5F13FB Work-Based Learning (Assessment 2)

1.9 Conclusions & Important Findings

From the above report, it have been concluded that the usages of smartphone is enhancing in rapid way within United Kingdom. Herein, various number of their addicted age group is old people. Moreover, smartphone provides a board range of characteristics involving Bluetooth, WiFi and so on which grab the attention of several person (Kupatadze and Kiziloz, 2015). Also, for expanding its business into global marketplace, this is crucial for entities to perform market research as well as evaluate its pros and cons for performing its enterprises efficaciously. It has been evaluated that for an organisation it is very much potential to bring necessary improvements and technological advancements in their products and services in order to serve consumers in best and proper manner. By collecting necessary information such as competitors strength and choice of consumers helps to build strategies properly. In addition to this, with the assistance of questionnaires they may able to know about the several information as it aids them to get feedbacks and suggestion from customers. Also, it will assists organisation to enhance its profit effectively and efficiently.

 

Download Full Sample
Cite This Work To export references to this Sample, select the desired referencing style below:
Instant Assignment Help.(2023) Retrieved from: https://www.instantassignmenthelp.com/busd1001-eco-fone-smartphones
Copy to Clipboard
Copy to Clipboard
Instant Assignment Help (2023) [Online]. Retrieved from: https://www.instantassignmenthelp.com/busd1001-eco-fone-smartphones
Copy to Clipboard
Instant Assignment Help. (Instant Assignment Help, 2023) https://www.instantassignmenthelp.com/busd1001-eco-fone-smartphones
Copy to Clipboard
Instant Assignment Help. [Internet]. Instant Assignment Help.(2023), Retrieved from: https://www.instantassignmenthelp.com/busd1001-eco-fone-smartphones
Copy to Clipboard
Boost Grades & Leave Stress

Share Your Requirements Now for Customized Solutions.

Lowest Price
USD6.27

Delivered on-time or your money back

Seasonal seasonal-mobile

Our unique Features

24/7 Customer Support

100% Customer Satisfaction

No Privacy Infringement

Quick Services

Subject Experts

Innovative Documents

100+ Qualified Writers

For Best (Accounting) Assignment Help

Lucas Taylor
1237 - Completed Orders
Lucas TaylorView Profile Hire Me
Kylie Novak
1789 - Completed Orders
Kylie NovakView Profile Hire Me
Genelia Smith
1530 - Completed Orders
Genelia SmithView Profile Hire Me
Amma Wilson
1221 - Completed Orders
Amma WilsonView Profile Hire Me
View All Writers