Managing Plan assignment Executive Summary The mobile apps run on mobile devices and perform certain tasks. The history of the mobile applications goes back to the earlier days when the smart phones were introduced in the market. In 2002, Blackberry launched the first smart phone and it happened to the point when the mobile application started to grow…
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Then in 2009, Nokia and Blackberry launched new online application stores. Presently, the mobile application spaces are available across all the platforms through a global basis. As per industry research done by Getjar the whole number of application downloads grew at 92%, CAGR to an approximate 50 billion downloads per year by 2012. This is mainly due to the growing number of users being engaged and becoming active application users. In this study marketing strategy of an mobile apps has been developed considering different environmental factors, extent market competitiveness and company’s internal and external factors. Product analysis The mobile Application market is a rapidly growing market. These applications are simple programs that can be downloaded easily. Now the usage of mobile applications on smart phone devices is enhanced. Different mobile applications are also used by the renowned restaurant chains for their integrated services and promotional purpose. It helps them to stay ahead in the competitive market. The new APP product is “Easy Food”. It is going to launch in the U.S. market. Mobile marketing includes the process of using mobile medium to communicate marketing information with the customers. That means it will provide easier access to get information about the location, menus, and promotional deals of the restaurant. Customers can order their food with this application directly or by using the Facebook pages or other online sites of “Easy food”. It is a user-friendly application. It offers the details of past orders, location and timing of restaurant, and also individual information about the restaurant. Best dish of the restaurant with feedback from other customers are also mentioned here. The competitors of this product are Chow Now, Tabbed Out, Dinner Connection, Uncorked, Go Pago and Belly. However, the product is now in an introductory stage, but its user-friendly application and innovative ideas will help it to capture the market in near future. External environmental Analysis External environmental analysis of the product will be done through Porter’s five force analysis and PESTEL analysis. Porters five force analysis Industry rivalry: There are several applications for restaurant can be found in the industry. Chow Now, Tabbed out, Dinner connection, Uncorked, Go Pago and Belly have already good presence and popularity in the market. As a result a good the customer base has also been created by these brands. However the users of these applications are mainly the youths who always had an urge to try something new. So in the starting it may go slow, but with the help of the unique applications, it can easily grab the market. Bargaining power of consumers: Most of the customers are the smart phone users. Eventually they can consider as tech savvy and financially well sound. The numbers of smart phone users are increasing as different mobile companies are started launching their own product. It will help “Easy food” to grab the customers. Bargaining power of suppliers: Here, the suppliers are considered as the software engineers. Uniqueness of the application will make it more appealing to the consumers. Deep knowledge over the subject and the enthusiasm to innovate something new will make the application stand among the competitors. Moreover it is not about onetime expenses the site needs continuous up gradation. Threats of substitutes:
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It is evident from the study that the one of the primary objectives behind product innovation are to create value which would help to obtain a competitive advantage and to achieve a long run success through the entire NPD process. Innovation plays a vital role in the process of NPD, which is much needed in the competitive world.
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11 Pages(2750 words)Coursework
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