Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Essay:
Technology in Business
The Digital Phone
The Digital Phone began with a single video on a concept of a phone, worth keeping, instead of the regular purchase of phones once they spoil. The strategy used by the Dave, a designer behind the concept, is the use of social media to spread the concept. As for now, through the social media, the concept has reached over 400,000 people. The idea was not central to the creation of a phone, but spread the message of change in the mobile industry. Because of the many people who have come out to support the idea, the mobile industry may give in to the calls of a modular direction (Phonebloks).
The idea aims at creating a personalized phone, which will have "blocks" that a user can attach to a main board. Each of the blocks is responsible for a particular function on the phone, and it is similar to a desktop computer, which comprises a sound card, graphics card, monitor, processor, and the power supply. Therefore, instead of replacing the entire phone, in case it breaks or becomes obsolete, this idea allows a user to replace the defective functionality (Phonebloks).
For example, if a user desires a camera, which will suit their requirements, then, one could swap the small zoom for a large zoom camera, from their desired or preferred manufacturer. Actually, this concept would work to ensure that few people would throw away their phones, which will play a role in ensuring a clean environment. The resulting smart phones based on a Digital system will be sold in parts, and starter sets. After assembling the phone, the screen will cover the entire front. It will have volume buttons and headphone jacks along the outer edge, blocks clicked to the back, which will form a rectangular shape (Phonebloks).
The goal of the business is to grow to be the leading producer of personalized, elegant mobile phones for consumers who appreciate the advance of technology. The company wishes to inspire consumers from all over the world to enjoy the functionality of the digital phone, and be in a position to change the functionalities with their pleasure and preference. In addition, the firm wishes to continue designing smart phones, which will ensure there is less pollution of the globe through phone wrecks, including disposal (Phonebloks). The company also aims to seek substantial funding to produce another line of technology, in this case, a laptop, which will encompass similar abilities to the consumers.
The company also aims at increasing the revenues with at least 25% each year, but this is not limited. Similarly, after achieving the financial objectives, the company will take part in charitable activities, and will donate $25,000 annually for conservation and research objectives. As stated, the company is also seeking expertise to develop new product lines, specifically, a laptop with customizable features. Alternatively, it is important to recognize that the business is fresh in the market, except it has managed to reach a large audience globally, mainly through social media.
Therefore, in the list of objectives, the company is also seeking ways to partner with foreign companies, and venture into new markets. The company has a site that is working, but it will require upgrading the website to make sure that it coincides with the current online business needs. On the other hand, the company is also working on ways to create its own conservation program, which will purpose at helping the society in raising money, and cater for other social needs.
The company anticipates success, mainly because it has experts and professionals who have core competencies, both in marketing and design (Phonebloks). Currently, the firm has shown the world that the Digital Phone is a working product. Although some of the mobile firms have greatly discouraged the emergence of the product, some other firms have seen the crucial part of the product. The product's image is recognizable, and it is in the course of creating working associations with consumers, retailers, suppliers, and distributors from all over the globe to get a sustainable viable benefit over the existing and potential competitors.
The Target Market
Prior to the development of the Digital Phone, the founders realized that many people out there were not sure on which phone model to purchase. This was because of the different matching of a phone's functionality. For instance, a consumer may wish to procure a phone with the processing capability of 2.2 GHz, camera 10 megapixels, touch screen, high definition speakers, but in the market, such a phone does not exist. Therefore, the company saw the need to allow the customers to have the liberty to select their preferred personalized smart phone.
In this regard, the company also acknowledges that some consumers desire certain functionalities from particular firms. In addition, the idea later become a working business product, and many phone users will benefit from this product. For this product, the Digital Phone is suitable for both genders, but may vary in relation to age. Therefore, the people aged 20-45 may become the potential targets for the product. Nonetheless, anyone can benefit from the product, because it will allow the user to personalize the phone (Phonebloks). Actually, it is as if the consumers will create their own phone model, and that is why the phone has the term "Digital Phone."
The Marketing Mix
Currently, the phone will offer the entire product, and because we have managed to join into partnerships with some global mobile manufacturing companies, the consumers will be in a position to alter the functionalities at their preference and convenience. As stated, the firm does not have a single name for the product, but it has a collective term "Digital Phone" and this is in agreement with the partners. Consumers will have the privilege to choose the colors they want for the product, but currently, there are colors such as sunset red, cactus green, sky blue, grayish, and brown. However, the product will have the slogan or logo of the company, regardless of the mobile partners or businesses that have agreed to collaborate with the company (Goldstein and Lee 212-225).
The company seeks to venture into foreign markets because there are many people across the world that have provided positive reviews concerning the product, and have shown their interest in purchasing the Digital Phone. Therefore, the company will also market the product globally and locally. In foreign markets, the company will partner with other technological leaders who will ensure that the product reaches the market. Locally, the company will have the products in its offices, and other location stores. Alternatively, the company wants to upgrade its website, which will also allow for online purchasing, and subsequent shipping of the product to the location of the consumer. In so doing, in the future, the company will develop online stores, and customers can even order their preferred customized Digital Phone.
Currently, the company has provided all its information, events, and others on the firm's website. Besides, the company actively takes part in the usage of some social media platforms, particularly Twitter, You Tube and Face book, where the company has over 400,000 followers (Phonebloks). Through the social media, the company has managed to promote the product throughout the world. On the other hand, the information about the product is on the company's website, and consumers can sign up for newsletters to get the recent information about the company.
Such promotional efforts aim at differentiating the company's products from potential substitutes or complements in the market. This is not enough; therefore, the company will ensure that it contacts the retailers in an effort to build relationships. In addition, the company has representatives who will continue conducting research about the perceptions of consumers in relation to our line of products (Goldstein and Lee 212-225). On the other hand, sales promotion and public relations contribute, or play a crucial role in the entire promotional strategy of the company. The company will engage consumers in events and contest to ensure it promotes the product locally to all people.
What the company considers is that human needs are insatiable. In this regard, people will always want to own the latest model of smart phone in the market. However, some of the companies provide models, at very high prices. This also means that a person will have to forfeit their earlier phone model to acquire a new model. This is wastage of money and that is why the company has developed such a product to accommodate the human wants. The pricing strategy is central to this concept.
Consumers will only have to purchase the phone once, but customize it as long as they have the phone. Actually, the company will utilize the value pricing strategy to make consumers feel comfortable when purchasing the product (Goldstein and Lee 212-225). Although some consumers felt that the companies would over-price them when purchasing some functionality, it is now clear…[continue]
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