Tag Archives: Smartphone

The Smart Boom

A world without smartphones is a modern Shakespearean tragedy! It a gift by mankind to mankind to enable its smooth functioning. It has allowed the evolution of humans to take place on a technological scale, to equip them with the entire world at their fingertips. A smartphone is a powerful tool and its true purpose of design can be fully utilised only if one bends it to serve their purpose and extract its potential to fruition.

The smartphone has made our lives easier. Our alarming dependence on the smartphone goes to show how vital it has come become to our daily sustenance. From entertainment to information, the small electronic device has become a vital tool and an extension of ourselves. Though the smartphone has led to several problems like headaches, distractions and short attention span, there can be no denying the multiple uses of the device that has made our lives easier and better.

From switching off our electric devices remotely to researching on a topic and completing an assignment, the smartphone has revolutionised our way of life. From binge-watching Netflix to watching a documentary on youtube, the smartphone has kept us entertained in the comfort of our homes in this Corona pandemic. From working from home to doing an internship online, the smartphone has bridged the gap between the office and the home.

The smartphone allows the user to connect to others from different corners of the globe through video calls using applications like Duo, Zoom, Teamlink etc. People can see their loved one’s thousand of miles away in an instant through the smartphone screen. The smartphone has made the once seemingly impossible now a reality. The smartphone has allowed students to attend classes on a regular basis and stay updated with their class lessons. It has allowed people to stay safe whilst still earning from home. It has allowed people to stay connected to each other and allowed patients to consult with doctors online.

It has allowed candidates to submit job applications on various portals like Naukri.com, Indeed.com, Shine.com etc from the comfort of their homes without the unnecessary hassle of travelling to various offices to submit their CV. It has allowed customers to shop daily essential items on various applications, order cooked food online and shop for garments online too. The smartphone has necessitated and helped in the smooth transition from buying from brick and mortar stores to online stores.

Businesses can reach out to customers easily because customers have access to affordable smart devices. It has led to the boom of the capital markets, the startup culture and the various online courses. However, all things can be used to a negative effect. This can be explicated in the manner in which hackers hack the smartphones and can access easily available private data of users and blackmail and extort them. The amount of readily made sensitive data inputted by the users makes the users vulnerable to hackers. Like everything, even the smartphone should be used sensibly and in moderation so as to avoid any such unpleasant experience.

Product Innovation in the Smart Phone Industry: Giving a New Path to Business

Naib Singh

Abstract

Product innovation is the dynamic marketing practice which helps the business firm to compete in the market. Every product needs innovation to fulfill the requirements of the customers time to time. India is having the third largest market in the world in case of selling the smart phones. The country holds second largest market after China in this area. Now a smartphone user can perform various operations along with calling through its phone such as the function of remote control of the television set and even various medical tests are also available in many smartphones. Product innovation is enabling the smartphone firms to do business with the interest and confidence in the market.

Key words: Smartphone, Product Life Cycle (PLC), International Data Corporation (IDC).

 

Introduction

A business organization survives on its product or service. Every manufacturing enterprise sells its products to the customers for attaining the growth as well as goodwill. Customers purchase the products as per their requirements. Requirements of the customers change as per their aspirations. Every product needs innovation as time passes to fulfill the requirements of the customers. Every product has its life cycle which is called Product Life Cycle (PLC).PLC of any product includes five stages namely, Product development, Introduction, Growth, Maturity and Decline. In the development stage the firm develops the new product with the latest idea. In this stage the business firm suffers investment costs and there are no sales in this stage. In the second stage product is introduces the market. The rate of sales is very slow which results in lower profits. Heavy expenditure is incurred on product promotion. Growth stage includes market acceptance of the product among the customers. A high sale yields high profits. Sales starts to be slow in the maturity stage of the product. Customers prefer some new features in the product in this stage to fulfill their needs in the competitive environment. In the decline stage product has no sale. Hence maturity stage requires product innovation.

Product innovation has the great importance in this modern competitive era. The main reason of the product innovation is the dynamic market. Product innovation is essential to compete in the market. Various changes are performed by the manufacturer in the product under this process. When existing product looks entirely different from its previous look, then this process is termed as innovation. There are various reasons for product innovation like, competition, business growth, market change, maximum utilization of resources, reducing the risk, technological development etc.

Statement of the Problem

Smart phone has brought revolution in the communication world. In this paper, product innovation by the smart phone firms has been analyzed in the context of Indian market. In India communication through mobiles have prominent place. For the purpose of the study, the author has analyzed the innovative practices by the various leading smart phone firms in India. Product innovative practice has the great role to play in the competitive marketing environment. After the technological revolution all over the world, the rate of obsolesce in the smart phone area has increased. Smart phone manufactures have to be alert in the area of product innovation for attaining the fruitful business in the modern environment.

Objectives of the Study

This paper is based the product innovative practices in the area of smart phones. The main objective of this paper is to study the innovative practices by the various smart phone companies in India. Innovative practices lead to enhance the business. An attempt has been made in this study to highlight the impact on smart phone business as the result of product innovation.

Methodology

This paper is based on three main segments describing the introduction of the concept, objectives and methodology in the beginning part, information about the smart phones business and innovative practices by the various firms in India in the body text and discussion in the ending part of the study. The study is based on information obtained from various published and online sources. Secondary data have been used for the purpose of drawing the inferences.

Smart Phone and Product Innovative Practices        

Smart phones have attained the prominent place in the routine life of every person in the modern era. In India smart phone are used at large in the communication process. According to the research firm Canalys, India is having the third largest market in the world in case of selling the smart phones. The country holds second largest market after China in this area. In India, Samsung, Micromax, Motorola, BlackBerry, Karbonn, HTC, Sony, Spice, LG, Huawei and G’Five are the leading smartphones. Manufacturers of these brands are using product innovations for making their phones more competitive.

International Data Corporation (IDC) has depicted in its report that in the second quarter of 2015, India has imported 26.5 million smartphones and this figure is 44 % up for the same period of 2014. This trend shows that the smartphone market is increasing in India day by day

Figure1: Share of Smartphone Vendors in India (2015-Quarer-2)

Source: International Data Corporation AP Quarterly Mobile Phone Tracker, 2015Q2

Samsung is having 23 % share in the Indian market and is leading in the business of smartphones. According to the viewpoint of Mr. Anirbn Banerjee, the Associate Vice President of the Research and Advisory Services Division of CyberMedia Research, Nowadays Indian people giving preference to the characteristic phones which offers high speed and power.

Smartphone firms are focusing on fulfilling the aspirations of the customers by making their smartphone more and more innovative time to time. All the leading companies have launched quad-cores and android phones with high quality cameras. Edge-to-edge display feature has been introduced in the phones for attracting the buyers. Various apps related to various aspects of routine life have been uploaded in the phones. Now a smartphone user can perform multitasks through its phone such as the function of remote control of the television set and even various medical tests are also available in many smartphones.

Many companies has introduced phone cum mini-computers which fulfill the requirements of personal computer. These phone are easy to handle and carry at the workplace and moreover less costly to Desktop and Laptop. This type of revolution has totally changed the market scenario of smart phones in the communication world. This fast changing business environment requires more innovative handsets for the smartphone users.

Discussion        

Product innovative practices have the great importance for competing in the modern business environment. Smart phone market is changing very fast due to technological advances and consumer needs. Smart phones firms are practicing the innovative practices for making their products more useful and attractive for the modern business environment. This marketing practice is enabling the smartphone firms to do business with the interest and confidence in the market.

References

Kotler Philip, Armstrong Gary, Agnihotri Prafulla Y. and Haque Ehsan Ul (2011):Principles of Marketing- A South Asian Perspective, Pearson Prentice Hall, Published by Dorling Kindersley (India) Pvt. Ltd. New Delhi.

Sontakki C.N. (1999): Marketing Management, Kalyani Publishers, New Delhi.

Agarwal S.C. (1996): Marketing Management, Dhanpat Rai & Sons, Delhi.

Vashisht Monica Gupta and Chandhok Anil (2015); “Positioning in the Smartphone Market”, GGGI Management Review-A Bi-Annual Refereed International Journal of Management, Jan-June, Vol 1, issue 1, pp18-21.

http://business.mapsofindia.com/top-brands-india/top-mobile-brands-in-india.html

http://daily.bhaskar.com/news/GAD-10-trends-in-india-smartphone-market-year-2015-4812515-PHO.html

http://www.idc.com/getdoc.jsp?containerId=prSG25827215