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Analysis of Smartphone Market in UK | Eco- Fone's Case Study

1105 Downloads1 I Published: 25 Nov ,2019

Introduction

Smartphone is a division of mobile phone whose market is increasing day by day in faster way. It is multi purpose device which include various features like Bluetooth, Wi-Fi, satellite navigation, voice call, video call, gaming applications and many more. In united kingdom smartphone selling get increased on quick basis (Schmitz, 2013). This report is based on Eco- Fone who trade smartphone and accessories with two shops that are Putney and Richmond. They establish there shop in 2014 and they are not dealing in selling of laptop and tables. This report explain topics related to mobile phone market and its demand in United Kingdom market.

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Task

1.1 An Overview of the Mobile phone market in the UK

According to survey which is conducted by Deloitte on topic of mobile usage at United Kingdom. The market of smartphone is increasing day by day with successful presence due to this sales of smartphone is increasing by 1.5 billion on annual basis. In United Kingdom sales or presence of smartphone is 58 percent in adult populations and researcher are expecting it will be increase and reach to 90 percent by year 2020. This is so because majority of world population is attracted towards smartphone and using it for daily work as well as workplace task. In United Kingdom there are approx 33.5 millions peoples are working at a workplace form which 32 millions are using mobile phone at workplace. At workplace peoples use mobile phone for emailing, messaging, voice calling, calendar management and many more. At united Kingdom all age group peoples are using mobile phone (Premkumar and Nigel, 2015). Even old age peoples are addicted towards the mobile phone they are also using it on regular basis.

1.2 Forecasting the UK Adult Smartphone use

According to survey 17 percent population of age group of 16 to 24 years use there mobile phone 100 times daily and 12 percentage of same populations claim that they look there phone at least 200 time on daily basis (Global mobile consumer survey, 2017). Whereas 34 percent of 16 to 75 years old peoples use there mobile phone every time and every where even when they are eating with there family or at friend's home. Along with this 49 percent of 16 to 24 year populations do same things. 11 percent of age group of 16 to 75 years peoples use there phone while crossing road and more than 53 percentage peoples do the same while they are walking at road. This leads to major reason of accident or any misshaping occur at road now a days. More over age group of 16 to 19 years, two third peoples check there phone while they gone for sleep due to which they didn't able to take proper rest or sleep. That leads to obesity, illness, weak eye sight and many more issues.

1.3 Smartphones - A potential market for older customers

For effective understanding of smart phone market, Eco- Fone management decide to analysis articles related to increase in sales of smart phone within old age customers. In United Kingdom old age peoples are more attracted towards mobile phone as compare to young peoples. For this they select BBC news articles which is mentioned below:-

According to the articles written by Leo Kelion, sales of smartphone is increasing day by days in United Kingdom market mostly among old age peoples who lies between 55 to 57 years. This will shows that 71 % of this age group now a days own smart phone or application capable mobile sets. According to research old age peoples are adopting smartphone in faster rate in last five years. But they use smartphone less as compare to young youth such as old age peoples use there phone within time duration of 15 minutes of walking. When compare in percentage 50 % old age peoples has there face book account whereas 70 % is a figure of all young adults (Smartphone sales boom with over-55s, 2019). Use of mobile phone also increase and encourage payment through mobile phone which is consider as safe and easy. Modern smart mobile sets have large screen which is appropriate for old age peoples eyes sights and they can enlarge figures or words according to need. According to researcher suggestion company must develop phone which have feature of picking up phone by look at it not sliding screen or pressing button and this suggestion is like by old age customers .

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

Should we expand business

Yes, Eco- Fone can expand there business in marketplace of Kingston.

Pros

Score/10

Cons

Score/10

When respective company expand there business in Kingston they able to enlarge there customers base (Chang, Shen and Liu, 2016).

7

For expand business in Kingston Eco- Fone has to arrange huge amount of funds or capital, so that they operate business in effective manner.

8

By expansion of business at Kingston market visibility of respective company brand increase.

8

Expanding business in Kingston market develop various issues like time and local government policies and regulations.

7

When respective company expand business in Kingston market they able to understand new culture and also able to hire new talented employees know is aware about local market in appropriate manner.

8

Language also become big barriers for Eco- Fone to operate business in Kingston market which affect business operations and fucntions (Bagga, Noseworthy and Dawar, 2016).

6

Customer base and profitability of a Eco- Fone will increase when they in large there business at Kingston marketplace.

8

When respective company expand there business at Kingston market there will be enhance in completion. That will affect business directly and indirectly.

8

Total Pros

31/40

Total Cons

29/40

Average Pros

0.76

Average Cons

0.72

1.5 Costs of a New Building and logos of eight commercial mortgage lenders in the UK

Commercial Mortgage is a type of mortgage loan which is bonded by commercial holding like shopping mall, building for office, warehouse of company, apartments and many more. This loan is mainly for long duration like 20 years or more. In United Kingdom there are numerous of commercial mortgage loan lenders, some major of them with name are mentioned below:-

  • THINK Business Loans Commercial Mortgages
  • B2Bfinance.com Commercial Mortgages
  • NatWest Commercial Mortgages
  • Royal Bank of Scotland Commercial Mortgages
  • Together Commercial Mortgages
  • Aldermore
  • InterBay Commercial
  • Greenfield Finance

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

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

While a company is calculating net taking they must take care or ensure that there standard deviation must be less because it leads to profitable situations. Standard deviation is represent the actual difference between mean and desire outcome. Therefore having more variance between mean and standard deviation leads to affect reliability and validity of strategies. So it is responsibility of manager and leader to develop strategies and plans which reduce gaps between actual outcome and standard outcome. If they not create appropriate business strategy then standard deviation outcome will increase which is not appropriate and good for an organization profitability and market shares.

As Eco-Fone's offers mobile phones and accessories on discounted rates on this two retail shops, where first shop gains profitability mean as 100 Euro and another shop as 90 Euro. But both has taken a same sample size i.e. 40 on net daily takings, where standard deviation of both shops is measured as £20 and £40, respectively. Therefore, it has interpreted from this analysis that shop first has gained more profitability as compared to another. Because with increase of sample size and mean, variability is expected to be decreased. But here in first case, with sample size 40 and mean £100, standard of variation is £20. While, another shop on same sample size has got less mean but high variability. Therefore, both shops didn't take the same net takings or net profitability, in terms of reliability and validity. So, second shop needs to rebuild its offer strategy on discounted rates (Abramovici, 2014).

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1.7 Customer Satisfaction

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

·Within the last month

·Between 1 month and 3 month

·Between 3 and 6 month

·Between 6 month and 1 years

·More than 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 (4- Excellent; 3- Good; 2- Fair; 1- Poor)

Basis

4

3

2

1

Customers service/ support

       

Quality of products/ services

       

Sales Staff

       

Price/ Value

       

 

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

·Very satisfied

·Satisfied

·Neutral

·Dissatisfaction

·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

7. Please suggest how we can improve our products/ services to better serve you.

Company must improver there customers service or support system so that customer's issues will easily and quickly.

*Here correct answers are market in yellow colour.

Interpretation:- Respective company do market analysis by adopting questioners method and they find that customers like there products but there are some factors which is reducing there loyalty. Customers also give suggestions regarding Eco- Fone customers services that they must improve it. Along with this customers like to suggested respective company products to other.

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1.8 Quality Procedures

Passion distribution refers to distribution in statistical form which shows how many time a particular event will occur in a specific time period. It use in an organization when a particular work or task is conducted on a regular basis within a particular time period. It has various characters such as it refer to distribution which is discrete. In this each task or occurrence is different from another task and evaluation of that task is one for a particular time duration.

By conducting evaluation it can be analysis that two return cheque average is an error which is according to per month and it can be retained due to an average that is in past two months. An average can be calculated through cumulative frequency of acquiring cheques from an individual (Haberman, 2015). In this there is a probability of matching quality sureness process which is done with more than three invoices that can distinguished percentage rate of a return invoice for Eco- Fone company.

Conclusion

From the above discussed topic it can be conclude and analysis that smartphone market is increasing day by day in United kingdom. Along with this old age peoples who are between 55 to 57 years old more attracted toward smart phone as compare to young peoples. When a company expand there business in new country or location they do evaluation and analysis of market by calculating pros and corns of expanding business. If they find pros points more then corns then company will decide and develop strategies accordingly. If they find outcome is appropriate as well as effective they will expand business in that particular marketplace. Company also do evaluation of feedback which they take from customers by using questionnaires. Then according to feedback company do innovation in the products and services which help them in attracting customers and retaining them in effective manner. If a company expand there business they have to develop budget so that they can allocate resources in effective and proper manner. It is essential for a company to do analysis of all the resources, budget, requirement and many more while expanding there business in new market. They should also design products and services according to demand and need of particular location or country customers.

References

Books and journals

  • Schmitz Weiss, A., 2013. Exploring news apps and location-based services on the smartphone.Journalism & Mass Communication Quarterly.90(3). pp.435-456.
  • Chang, S.E., Shen, W.C. and Liu, A.Y., 2016. Why mobile users trust smartphone social networking services? A PLS-SEM approach.Journal of Business Research.69(11). pp.4890-4895.
  • Bagga, C.K., Noseworthy, T.J. and Dawar, N., 2016. Asymmetric consequences of radical innovations on category representations of competing brands.Journal of Consumer Psychology.26(1). pp.29-39.
  • Premkumar, K. and Nigel, K.G.J., 2015, March. Smart phone based robotic arm control using raspberry pi, android and Wi-Fi. In2015 International Conference on Innovations in Information, Embedded and Communication Systems (ICIIECS)(pp. 1-3). IEEE.
  • Thomas, J.G. and Bond, D.S., 2014. Review of innovations in digital health technology to promote weight control.Current diabetes reports.14(5). p.485.
  • Koch, S. and Kerschbaum, M., 2014. Joining a smartphone ecosystem: Application developers’ motivations and decision criteria.Information and Software Technology.56(11). pp.1423-1435.
  • Abi Ghanem, D. and Mander, S., 2014. Designing consumer engagement with the smart grids of the future: bringing active demand technology to everyday life.Technology Analysis & Strategic Management.26(10). pp.1163-1175.
  • Pan, J., Superior Communications, Inc., 2016.Case for mobile phone. U.S. Patent D746,801.
  • Haberman, Z.C. and et.al., 2015. Wireless smartphone ECG enables large‐scale screening in diverse populations.Journal of cardiovascular electrophysiology.26(5). pp.520-526.
  • Abramovici, M., 2014. Smart products.CIRP Encyclopedia of Production Engineering, pp.1-5.
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