MGT 301 project part 2

Running Head: BUSINESS VENTURE

Business Venture

Business Idea

The business idea considered in the present situation is the idea of selling mobile phones to customers. This business idea is a very important and effective business idea as the organization is likely to make sure that it is working for the purpose of ensuring that positive results are achieved by the organization over a period of time. The idea is likely to provide better results to organization.

Products or Services Offered

The organization is engaged in offering various kinds of mobile phones to customers. The mobile phones will range from key pad phones to smart phones. Organization will also be selling various mobile accessories. Mobile accessories provided by the organization include accessories such as headphones, earphones, data cable, memory cards, card readers etc. Mobile covers and mobile screen guards are also sold by the organization to customers.

Location of Organization

The organization will be offering products to customers through both ways. Organization has an online store as well as a physical store (Delaney, 2013). The physical store of the organization is located in New Jersey and the organization has a website for selling its products to customers online. In online website, the customers can book their order and select the method of payment of money. Customers can make payment of funds to organization either through cash mode or they can also make payment through online mode.

Both the methods adopted by organization for accepting funds are secure modes. Organization has ensured that it is working for the purpose of protecting the interest of customers. There are no security issues for the customers regarding payment of money to be made by them at a particular period of time. The delivery of products made by organization is also quick.

Marketing Opportunity

At the present time, there are various people in the country who are looking forward to make sure that they make purchase of mobile phones. On regular basis, new mobile phones are being launched in the country. Demand for mobile phones is also increasing at a continuous rate. This thing has resulted in the situation that the organization definitely has better market opportunity regarding business.

Trends Favorable

The trends in mobile industry are definitely favorable for the organization. In relation to trends in mobile industry, it is provided that there are 5 billion mobile phone users around the world. At the present time more than 90% of social interactions in the country are carried out through mobile phones. In year 2013, there were 134 units shipping in the United States of America. This figure is a growth of 9% in retail volume over a period of previous year. These trends are positive for the organization and organization is likely to generate better results in time to come.

Market Growth

There has been continues increase in demand of mobile phones and increase in retail volume (Steel, 2006). This shows that market is growing. In the year 2014, the mobile phone data traffic has increased by level of 2 times. There is a situation that the organization is likely to make sure that it works for the purpose of ensuring that it increasing sales of its products by way of marketing for the purpose of achieving better revenue and profitability at a point of time in the future without much trouble.

References

Steel, J. (2006). Perfect Pitch: The Art of Selling Ideas and Winning New Business. John Wiley & Sons.

Delaney, D. (2013). New Business Networking: How to Effectively Grow Your Business Network Using Online and Offline Methods. Que Publishing.