Business plan

Assignment 1

1. Smart TV are getting less used because of the smartphone. If we combine the big screen with the convenience of the smart phone, it would be promisingly popular.

2. A. There’s no smartphone synchronized smart TV in the market. Our TV will fill the gap.

B. That would be the idea of getting TV work with a smart TV.

C. Yes. We make the TV work perfectly with the smartphone.

D. Yes. We’ll specify it in our business mode.

E. It’s impossible. We are new entrants with unique differentiation. This industry has got history.

Assignment 2

1. Porter’s five forces：

1. Competitors in an industry: Apple TV, Amazon Alexa; Samsung; LG；Sony

2. Threat of new entrants to the industry: Hisense; TCL

3. Threat of substitute products：Personal Computer, Home theater center.

4. Bargaining power of Suppliers: Foxconn; BOE—Medium

5. Bargaining power of customers: Weak

2. Since smart TV is not a brand-new concept product, we are not the first to the market.

3. Our smart TV have its unique differentiation compared with the ones in the market. It has very user-friendly interactions especially when paired with smart phones. Using that advantage, we have unique selling point.

4. We are going to appeal our smart TV particularly in online and offline shops with its unique smart features to the potential users to let them know that it’s more than convenient to use our products.

5. Smart TVs in the market have some smart features but young users are using more of smartphones because it’s more convenient to the information source. For example, photos and videos taken by phone, smart phone games that can be played once they had time. They will have better experience to have a big screen to do these things. If they can easily put the images onto the big screen and operate on either screen, they would have much better experience.

6. It’s a trend to have traditional home appliances into smart and interconnect ones. IoT has been developing fast and leading the industry onto another level. Our smart TV get uses better experience at home while whatever you do everything on your smartphone can be done simultaneously on the smart TV.

7. Mission statement: Addition to traditional smart TV, we aim to help our uses get extremely convenient in using smart services with great experience.

8. Vision and value statement: We can have your images displayed and processed synchronized anywhere with your smart device.

9. Short term objective: To get our products into the market and cooperate with major distributors in 2 years.

Long term objective: To have competitive market share and continuously provide users with more convenient experience.

10. Tasks and action plans: Test the reliability and start the market investigation. Advertise through multiple ways. Establish cooperation with distributors. Make sure the products in mass production.