Samsung Gulf Electronics Co. Ltd
The company that came up with a viable business idea is Samsung Gulf Electronics Co. Ltd. The company deals with phone production and maintenance. The branch is located in UAE, and it offers several products to customers that include mobile phone production and distribution, tablets. Televisions screens production, cameras, audiovisual equipment production, computers and computer peripherals supply in UAE. Hence the company has invested in the production of phones and electronics that serves the entire market in UAE and abroad. The company is also known globally of production of quality products; hence the company has gained customer trust since the company serves the best interest of customers. The company came up with an idea of producing a quality phone that has superior features compared to other models of the same phone. The production of the phone uses advanced technology in use today and has led to quality improvements in the current phones in the market. Hence Samsung Gulf Electronics Co. Ltd is always working towards the embracement of the advanced technology in phone production.
Vision
Samsung Gulf Electronics Co. Ltd focuses on inspiring the world through the use of its innovative technologies, and through its products and its design that mainly deals in the enriching of people’s lives. The company also focuses on the social prosperity that is achieved through creating a new future. It keeps the vision statement into practice so that it can maintain profitable technology and business operations that play a crucial role in improving people’s lives.
Mission
The mission of Samsung Gulf Electronics Co. Ltd focuses on devoting human resources and the technology that will assist in creating superior products and services that will contribute to an advanced global society. It acts as a driving force towards technological advancement that focuses on manufacturing phones with quality features.
The Business Idea
The business idea arose from Samsung Gulf Electronics Co. Ltd that focused on the production of Samsung Galaxy Note 20 that contains quality features. The business idea will serve the best interest of customers, and it will serve both the UAE and the global market. The phone’s specifications that the phone will be accompanied with is that the phone will contain a screen size of 6.7 inches in the full rectangle and 6.6 inches of the accounting rounded corners.
Also, the Galaxy Note20 will be accompanied by a battery that is long life and with a capacity of 4300Ah. Also, the battery stores charge for a long period. But in some cases, the actual battery life varies depending on the network environment of the user, but for this case, it will serve the customer for a longer period. It will also be accompanied by a fast wireless charger that is capable of supporting a 10W or more wireless charging.
The phone will also be accompanied with an 8 GB RAM that contains an internal storage of 128GB hence provides the user with enough storage for storing his or her files. The phone will be accompanied by a 12 MP ultra-wide camera that produces quality images. The Galaxy Note’s Hybrid Optic Zoom is capable of combining the high-resolution image sensors and their lens. It will also be accompanied by an Android operating system with an octa-core CPU. Hence the smartphone contains the best superior qualities that customers desire.
The business idea will assist in addressing the availability of quality phones in the market. The quality phones will be of great importance since they will serve the interest of customers. Manufacturing quality phones will serve the entire market and play a crucial role in creating many job opportunities for employees who are skilled in this field. The solution is made particular compelling since the production of quality phones will attract customers to purchase the phones hence the company will be in a position to make a good profit that will assist in financing the operation of the company. The company has personal experience with the market since it has been involved in this business for an extended period; hence it has established itself in terms of marketing its products to potential customers.
The intellectual property that the company must have is being listed in the Dubai Internet City that focuses on the need of the company to focus on the government initiative of transforming the Emirates into a technological hub. These initiatives are focused on diversifying the UAE economy since technological innovation plays a crucial role in transforming many sectors of the economy. Other multinational companies like Apple Inc have tried the business idea. The company succeeded in the implementation of the business idea, and it boosted the sales volume of the company since it was able to provide quality phones to the customers in a convenient time. The business opportunity is very attractive since the phones being manufactured are cheaper and also are more durable. Therefore being locally produced it will serve the local customers conveniently and others being exported abroad that will increase the revenue being earned by the company.
Market Analysis
The sector of the economy am addressing is the ICT sector that deals with innovative technological ideas. And through this business idea, the Samsung Gulf Electronics will implement the production of the Samsung Galaxy 20 since the market is very attractive since customers are willing to buy unique phones with superior features. Hence when the company focus on the production of Samsung Galaxy 20, it will increase the amount of income the company earns from the sale of smartphones since customers are already aware that the phone contains superior features.
The market segment Samsung Gulf electronics addresses are the demographic segmentation and the size of the market it serves. The demographic segmentation is divided into age and gender. Mostly the company will target the young population since they are fond of using smartphones; hence the company will focus on advertising the product to them since they will serve as potential customers.
The market research that can be done will focus on ensuring that the company comes with unique quality characteristics that will be used in the manufacture of the proposed phone. The company has registered an increase in 11 per cent in sales of smartphones for the last three years. Hence the company has been performing well and through the introduction of the new Samsung Galaxy 20 the company is expected to grow. Also, the company serves a large market both in the UAE and abroad.
Customer and Customer Development
The customers for the Samsung Galaxy 20 are numerous. After the release of the smartphone in UAE, it will mostly target the young generation who prefer using smartphones since most of them require the smartphones to access online platforms.
Also, the people who are employed have a tendency of using smartphones since they usually use them to carry out some activities and send crucial documents to their bosses. Therefore after the production of the Samsung Galaxy Note 20, it will fetch a ready market since these group of people will be willing to purchase the phones. Therefore it is of importance for the company to focus in the production of quality phones that will fetch the market. The customers today are using Samsung Galaxy S 20 that is not superior compared to the Samsung Galaxy Note 20 hence the need the company will focus in the production of this quality features like 5G data speeds and a high-speed 120 HZ screen refresh rate.
The primary research that is used in data collection is done by interviewing potential customers. Who can purchase the smartphones after they are introduced in the market. The interview is carried among 30 potential customers, and 25 of them were optimistic about the viable business idea. Hence they are willing to purchase the phones.
On the other hand, the secondary data is obtained from the internet sources that highlight the advantages of these phones. Hence the business idea is viable since it will serve the best interest of customers.