New Life for Bad Devices - Essay Example

? Section/# It is without question that mobile devices and cellular phones have ultimately reshape the world in which we live. It is difficult to imagine a society in which photography, music, and mobile communications could take place without the use of DSLR cameras, iPods, iPads, and cellular phones that package many of these products into one. As such, a veritable cottage industry has popped up in which the ability to address the needs of this mobile device market is exhibited. Much of this particular “cottage industry” is focused upon providing individual consumer with a litany of different products and services that help to enhance or protect the particular mobile device in question. However, it is without question that with this drastic increase in available technology, the price of these devices have risen precipitously. Along with this price increase, so too as the consumption habits that the consumers display. Rather than changing a mobile device several times throughout the year, individuals are now encouraged, by simple force of economics, to retain their device longer, protect it, and seek to repair it in the off chance that it is somehow damaged. It is further estimated by experts that the industry responsible for the repair of mobile devices engenders an economy that is worth tens of millions of dollars annually. Whereas the repair of current mobile devices takes many shapes and forms, the most common repair that is engaged is repair of chipped, broken, or cracked glass screens. Whereas formerly mobile devices were put together with plastic LCD panels, the trend towards touch-screen devices has meant that more and more of these devices are now made with glass. As such, the product which will be promoted within this analysis for sale within the online market, will provide the consumer with an alternative to the exhorbitantly expensive screen replacements that can cost as much as 30% of the original phone’s cost. As such, the product which will herein be discussed and analyzed is a glass gel that has already been used in the automotive industry for decades which helps to seal and repair cracks, chips, or other imperfections on a glass surface. As such, the following section will engage the reader with a discussion and analysis of some of the key benefits that this particular product has to offer with regards to consumer utility and the ability of being sold online. The first of these is with regards the ultimate lightweight nature of the product itself. Comprising less than one fluid ounce, this particular product easily the ships; with little to no cost to the end consumer. Furthermore, it should also be understood that this particular product offers a tangential benefit of being a low-cost alternative the increasingly pricey cost of mobile phone screen repair; which was noted previously within this brief analysis (Wolf, 2012). As such, the gamble the individual consumer with regards to integrating person is your products are less than it would be if the product or service was closer in price to the alternative that face. A tertiary benefit is with regards to the fact that the existing supply of this glass gelling compound can easily be purchased in a litany of auto repair supply centers and repackaged at a significant markup (Moran, 2013). Fourthly, the high profit margin that could be denoted from this particular approach is clear and evident. Finally, it must be understood that there is ultimately no cost of research and development regards as the innovations are in place and the product provider is merely repackaging and reselling this product to the consumer for use in a different application that it was originally intended. Accordingly, the utility that can be gained from all of this, for the producer/seller, is that all of these facts help to directly translate to an increased level of money that can be saved on research and development, shipping costs, purchase of raw material in bulk, simplicity of product marketing, and a great many other factors. Whereas it is true that the consumer will be tempted to integrate with this particular product based upon the fact that they will realize the tacit benefit of integrating with a low cost product as compared to the high cost of mobile phone repairs, the simplicity in explaining the product to the consumer is yet another benefit that cannot and should not be dismissed. Whereas many great product ideas have come about of the past several years, the products that prove to the most successful are those that require the least amount of explanation and can easily be understood and whose utility can be easily appreciated by the consumer (Wilson, 2008). As such, this particular product engenders this benefit and selling within the online marketplace can even further reduce the amount of money that would be paid in traditional advertising media. From the information that has thus far been engaged, it is the understanding of this particular reviewer that such a product bears the possibility of engaging the market and incurring a very high level of profitability for the seller. Furthermore, the ease of “production” and the existing raw materials that can easily be transferred into the new product and merely re-packaged and re-purposed presents an overall likelihood that the time it will take such a product to catch on and become profitable will not significantly impair the ability of the firm/business the integrates with such a promotional business plan to hurt too deeply from lack of revenue generation. Whereas businessmen and women have long sought after the low cost, high profit margin good or service that has little to no risk, this has oftentimes been elusive and can categorically be said not to exist. However, when one considers the ease of product, ease of marketing, and the fact that the lack of money spent on research and development as well as marketing frees up substantial resources for the firm to invest in other areas, this particular product might come as close as possible to engendering this golden standard. References Moran, G. (2013). New life for bad Apples. Entrepreneur, 41(5), 43. WILSON, B. (2008). A head of its time. Roads & Bridges, 46(8), 39-64. Wolf, A. (2012). Extended-Warranty Rundown. TWICE: This Week In Consumer Electronics, 27(4), 18. Read More