BUSINESS ASSIGNMENT Essay Example | Topics and Well Written Essays - 1250 words - 1

BUSINESS ASSIGNMENT - Essay Example The mobile telephony combined with internet form the basis for the growth and development of social networks and revolution in media as well. Bala (2010) states that while mobile phone penetration also rises with per capita GDP, it happens earlier, and faster, than Internet adoption.  No longer purchasing a Mobile or Cell Phone is considered as a capital investment. It is forming part and parcel of the life of an individual, especially the youngsters throughout the world on account of its necessity in day-to-day life. Librero et al (2007) states that with falling prices and increasing functionality, however, it is virtually certain that not too far in the future all of the world's students will have a cell phone. The business environment The competition in this area is intense and there are several small retail stores dealing in similar products. These stores display the products of all the manufacturers generally and there are few exclusive showrooms of the manufacturers, especial ly in big cities. Due to fragmentation, customer retention and brand building is a key problem in the business. Customer satisfaction becomes crucial in respect of servicing for building up the business. E-commerce plays a vital role and this would be more effective in the case of the existing customers who could trust the retailers based on their earlier experience with regard to the judgment and advice of the retailers in their buying decisions. Display of varieties, strategic location of the retail units, proper interior decoration, effective advertisements, effective customer service and understanding of the segmentation are essential for market penetration and brand building. Alshurideh (2010, p. 297) states â€Å"Consumer behaviour in the mobile phone purchasing setting is controlled by the actions of marketing management which provides a variety of mobile communication offers that are signalled by behaviour setting stimuli and denote behaviour consequences clearly. †¦ T hese advantages cannot be achieved without †¦ mutual relationship†. Products and Service Though the cost could be same for different consumers for the same product, the ability to absorb the cost differs from the customer to customer. Secondly, the utility value of the new model could be more important to some consumers rather than its cost. In some cases, it could be considered as a fashion (Mobile phones studded with diamonds for instance.); they also change the instrument frequently in line with the latest trend in the market irrespective of its utility. Cell phones are now being used by all walks of people and Kharif (2008) states that widespread adoption by universities would be a welcome boost to sales for Qualcomm, such carriers as AT&T and Verizon Wireless, and hardware makers, such as Hewlett-Packard (HPQ) and Apple. Gartner outlines 10 mobile technologies to watch in 2010 and 2011 which include Blue Tooth, Mobile Widgets, GPS and Broadband, which opens up new av enues for growth. Permutations and combinations of services offered by the handset manufacturers to cater to the different types of users would improve the product spectrum with immense scope for