Inflation is not entirely a bad thing. Afterall, consumption is what drives the economy. Therefore, leads to an economy to grow.
Social - Demographics
Population, growth rate and age
Macro (external) factors
Factors outside our control
Examining demographic segment
Helps identify background characteristics of consumers
Advantage for sellers/owners
Can easily identify consumer spending habits
Technological
Systems that boost organizational productivity
Advanced manufacturing
Productivity increase
Drives competition and consumption, boosts the overall economy
Environmental
Availability of natural resources
Waste disposal
Climate change
Fossil fuels
Environmental factors
Decreases production, as it puts the environment at risk
Legal
Laws that prevent certain crimes in the business spectrum
It is not possible for everyone in the business to follow all of these laws. People are naturally self-centered and often think about themselves.
Good businessman
Team player, thinks about others, benefits the entire economy
Market Targeting
Size of each group
Accessibility
Distinction between adult and teen preferences, behaviors, and needs
By selecting one or more segments within each category based on size, accessibility, and distinction, businesses can tailor their strategies to effectively target the most promising markets within the adult and teen demographic.
Differentiation through unique features, design, or innovative technology
Cost-effectiveness with high-quality features
Evolving Consumer Expectations: Anticipating and meeting changing consumer preferences, whether related to design, functionality, or user experience, is vital for sustained success.
Direct Competitors
Apple
Huawei
Apple
Most trusted and known by the public
Capable of producing more phones
Apple's Weakness
Expensive/Not budget-friendly
Huawei
Well known and trusted by most IT companies
Lack of capital
Indirect Competitors
HP
Acer
HP
Easier to repair
Parts are expensive
Acer
Cost Advantage
Ordinary processors and hardware components
According to the survey, 66% of the respondents use their phone always, 22% often, and 12% sometimes.
According to the survey, 66% of the respondents always have at least 2 hours of screen time per day, 20% sometimes, and 14% often.
According to the survey, 46% always consider the brand when purchasing, 26% sometimes, 24% often, and 4% may or may not consider the brand.
According to the survey, 50% always look for efficiency, 26% sometimes, and 24% often.
According to the survey, 38% always consider the camera to be an important feature, 30% sometimes, 28% often, and 4% rarely.
According to the survey, 72% always consider the battery life to be an important factor, 18% often, and 10% sometimes.
According to the survey, 52% consider the display to be an important feature, 32% often, and 16% sometimes.
According to the survey, 50% always charge their phones, 26% often, 20% sometimes, and 4% rarely.
According to the survey, 28% rarely change their batteries, 22% always, 16% sometimes, 12% often, and 22% never.
According to the survey, 48% think that phones should always be equipped with a headset socket, 28% sometimes, 18% often, and 6% rarely.
According to the survey, 64% always mind the build of the phone, 20% often, and 16% sometimes.
According to the survey, 82% stated that the storage always matters to them, 12% often, and 6% sometimes.
According to the survey, 60% stated processing speed always affects their performance, 18% often, 18% sometimes, and 4% rarely.