Market and Business Analysis of Omni Tech

✓ Paper Type: Free Assignment	✓ Study Level: University / Undergraduate
✓ Wordcount: 3275 words	✓ Published: 21st Oct 2020

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1.0 Executive summary:

Our first assessment based on the Omni tech business. Firstly we did the market analysis by understanding the demographic and geographic market which highlights the area from where their customer usually comes from and who they are. Furtherly, we have discussed several needs of the customers like quality of service, valuable products, repairs, and parking as well. Then we discussed the market structure that what is happening in the market and in which market does this business operates in, we also discussed some internal and external environmental analysis, we did a swot analysis for that from which we can easily understand the current position of the business. Moreover, we list some products which are being offered in the market, for example, they are providing a lot of facilities like mobile cases of famous brands and repairing electronic gadgets. after that, we have discussed the three main competitors such as happy tel, tech point, budget, and computer.

At last but not least discussed some main points of key to success and some critical issues of the business. Then finally we form some SMART objectives for the business. Which will fruitful for our business.

In the end, we put all the references in APA form.

2.0 Situation Analysis

2.1 Market Summary

OMNI Tech is located at the central mall in Hamilton city center. OMNI Tech is one of the best mobile phones, computers, laptops, tablets and I pad repairs store. They also sell many accessories like mobile phone cases, laptop bags, Bluetooth headsets, car accessories, keyboards, power bank, smartwatches and so on. Nowadays, All blacks and I- Kiwi are the most selling products. OMNI Tech is a store that sales these products. Mostly women like wallet cases and men like back cases.

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2.1.1 Market Demographics

Omni Tech is placed at 1A Centre place shopping mall, 501 Victoria Street, Hamilton 3204, New Zealand. Mostly children, adults, youngsters and old people are the customer of this business, They come here to buy accessories and repair their electronic gazettes. But, in these days, children are very fond of using these products because they do every work on laptops and I pads. So, children are a large number of customers of OMNI Tech.

Market Geographic - Omni tech is the renowned company of New Zealand. It has established in 2007. There are more than 30 stores of OMNI Tech in New Zealand. These stores are located at Auckland, North Island and South Island. Mostly local national and international people come in central place branch.

2.1.2 Market Needs

OMNI Tech accomplishes its consumer's needs. Every customer has a different taste and choice. But OMNI Tech looks after all types of customers and their wants and expectations.

● They provide good services to people and tell them about every product briefly.

● They show every product one by one to their customer and give time to select the product.

● Sometimes, they give a discount to their regular customer on some products.

● They provide many brands products like All Black, Cable bites, Adidas, Mercury, I-Kiwi and more.

● They provide mobile phone cases, tablet cases, chargers, keyboards, earphones, batteries, selfie-stick, wearable watch, a stylus pen and so on.

● They always sell good quality products like pure leather cases and decorative cases.

● The behaviour of the salesperson is very good toward their customer and he/ she always do good communication with their purchasers.

● Every customer wants to satisfy with good quality product and OMNI Tech always satisfy them.

● It has technical staff and the have good experience in this field.

● There are two hours of free parking facilities available for customers who are needed.

2.1.3 The Market and Trends

Omni tech targets the population of almost 1,70,000 people in Hamilton city. It is supposed to raise in the upcoming years. The market of Omni tech focused on all ages people and it has a different type of product for everyone.

In the present scenario, OMNI Tech has more than eight years of experience in the mobile market. With the help of company potential growth, now, it has different into Repair, E-Security and Telecommunication. They sell many products like mobile phone cases, I-Pad cases, laptop bags, keyboards, Bluetooth headsets, car accessories, adapter, smartwatches and their accessories.

Now, they bring new product in the market that is RELX which is empowering adult smoker through technology, design and ethically. This product is in different flavours like mango, lemon, blueberry and more. In upcoming years, they want to take their organization history and key strengths forward with their profitable skills and knowledge boost their experience. They aim to participate with their clients to establish new products and services for the company’s desire.

The different type of trend that will dominate Omni tech are:

Offers and discount are given by competitors.
Advertisement and promotion used by other shops
Different type of material used by competitors to produce mobile accessories.

2.1.4 Market Growth

A business should anticipate its development in the market when the interest of any item increment. By the requirements and wishes of its clients, a business should add more highlights to its items and administrations. There are many new products which increase the market growth of OMNI Tech.

● Mobile phones, laptops and I-Pads- OMNI Tech sells only accessories of these products if the company sell mobile phones, laptops and I-Pads also then their market growth is already increased. Because when people purchase mobile phones, laptops and I-Pads then they buy cases and bags of these things from the same store. When people buy these products from OMNI Tech then they also repair their products from here. Otherwise, they repair their products from other stores.

● Sim cards – Sim cards are also a more preferred thing by customers when they purchase new mobile phones. If the company also sell sim cards then they will get more profit in their business.

● Digital games – the company only repair the games console. If they bring digital games in their stores then the number of customers will increase. Because, in these days, youngsters and children like to play digital games more than outdoor activities.

2.2 SWOT Analysis

2.2.1 Strength

Strengths are the positive focuses that brand, area and human being. It depicts what an association exceeds expectations at and what isolates it from the challenge sold the brand, faithful client base, a solid monetary record, novel innovation, etc. The strengths are OMNI Tech are given below.

● OMNI Tech is the only company who sell the products of most preferring brands All Black and I-Kiwi.

● OMNI Tech repairs the mobile phones and laptops of every brand.

● People can buy cases of every phone, I-Pads and tablets.

● People can buy every type of accessories like mobile phones accessories, car accessories, computer accessories, watch accessories and more at one store.

● There are many food courts around this store. When people come there to eat food then they already attract towards this store to see attractive things.

● It has many branches in Hamilton.

2.2.2 Weaknesses

Weaknesses is the negative point of any organisation, place and individual. They are reasons where the business desires to do better to stay aggressive a powerless brand higher than normal turn over. A large amount of obligation and insufficient production network or absence of capital. There are some weaknesses of OMNI Tech are given below :

● They are not providing mobile phones and laptops in their store. It is the biggest weakness of OMNI Tech.

● They only repair the games console. If they keep digital games in their store that will more profitable for their business. Because children are very fond of playing games. They can attract children with these things.

● They also do not keep sim cards in their store. Because sim card is a more important thing for mobile users.

2.2.3 Opportunities

Opportunities means better things than before. Opportunities allude to ideal outside elements that could give an association an upper hand. For example, if a nation cuts duties, a vehicle maker can send out its autos into another market, expanding deals and peace of the overall industry. The opportunities of OMNI Tech are given below :

● OMNI Tech brings new product RELX in the market for adults. This is the best opportunity to increase their business.

● If OMNI Tech brings more new products like mobile phones, computers, laptops and games then, it is the best opportunity to earn more money.

● They must grab an opportunity of trade-in of used mobile phones, from which customers do no need to worry about to sell their old phones to someone else.

2.2.4 Threats

Threats allude to factors that can hurt an association. For example, a dry season is a risk to a wheat-delivering organization, as it might decimate or decrease the harvest yield. Other normal dangers in co-operate things like increasing expenses for materials, expanding rivalry, tight work supply, etc.

● The competitors are the biggest threat of OMNI Tech.

● If they will not reliably do their work then nobody will invest the money in their business.

● The funds are a more important thing in every business. If OMNI Tech will not have any investment so they cannot produce a new product in the market. As a result, the numbers of the customer will decrease and the business will fall.

● Political issues can be the biggest menace.

2.3 Product Market Offering:

They are providing so many things to their customers in the current market. Which are followings:

Omni tech mostly selling mobile cases with different types like otter box, life-proof and flip type cases.
They are having lots of branded cases mobile cases but all blacks and I kiwi is top of them.
They are also offering mobile phone charging cables, tempered glass screen protectors, I pad cases, selfie stick, headsets, air vent magnetic car mount etc.
They are selling both canvas and leather materials which are unique.

⮚ Not only they are selling these above-mentioned accessories also they have different types of services like:

● Omni tech repair all types of mobile phone and they do network unlock for every mobile phone.

● They also repair damaged laptops, desktop and tablet at a reasonable price.

● Console repair is also a part of their services.

Guarantee and warranty services offer to their consumers.
As we know, this store is in a good area so every people can easily access and watch everything which is required.
Staff members also show and tell us in detail all the products
They have Relx original brand electronic cigarette in various flavours(mango, lemon tea, blueberry and watermelon mint.)

2.4 Competition:

1. Tech point: Tech point is one of the main competitors of Omni tech in Hamilton. It is situated shop no. R46 Te Rapa Rd, The base Hamilton, New Zealand. It has another branch in a central place. They also provide fast and friendly service to their customers at a reasonable price. They sell another box iPhone 7, hoco wireless microphones, glass protector of I watch, hoco magnetic mobile holders, cup holder and hoco CW7 wireless charger. Apart from it, they have all accessories such as apple Ipad, HTC, iPhone cases, iPod covers, memory cards, Samsung tab and Sony Ericsson so on. Moreover, they repair all brand of Laptops and fix the Ipad at a cheap price. Their technicians are well expert in this field.

2. Budget computers & mobiles: It is the second competitor of Omni tech. it is placed at 125/c Ward street opposite burger king across the road (3204) Hamilton, New Zealand. They offer a wide range of services to their customers by repairing electronic devices no matter which device do you have. They renovate PC, Mac, games console and smartphone. They repair all parts of these things with possible range. Furthermore, we can check all the price list online according to damage in product and all the information could be seen in their website properly so it will be fruitful to every customer to find more and more information regarding their issues.

3. Happytel: Happytel is one of the famous shops in Newzealand which is located in the Base shopping centre (Te Rapa) Hamilton 3200. They offer cell phone accessories, maintenance and repair services to their customers as well as this retail shop work under happytel, Phone mania and phone adore. Happytel has 24 years of excellence in repairing devices and it is one of the attractive factors about Happytel. This retail shop sells mobile phone accessories, Laptop cases, USB cables and Headsets. In addition to this, they also famous for repairing cell phone, Ipad, laptop, mainboard repairs and data recovery from devices.

2.5 Consumer Behaviour:

Consumer behaviour is the behaviour of the customers towards the products and services available in the market, it includes all the process of deciding to buy the product according to their need.

The behaviour of the customers depends on their experience. In the case of Omni tech if the buyers have an excellent experience about product and service then obviously they come again in this store but if their experience was not good with them then they will not come again for another product. Because every individual has their own choice and test.

For example, if the customer wants to arrive at Omni tech at the same time they have a different question in their mind regarding compare price with another competitor, quality of product, colour, branch, brands and budget as well. So, these factors affect the consumer’s behaviour towards the product which he or she is buying for it.

Another behaviour of buyers depends on their income. If they have a good budget to spend then their demand will higher and they choose a higher quality of the brand. Otherwise, they go for a normal one. Moreover, sometimes people buy something for their family, friends, employee and employers that time they have another taste and preference about product and price.

2.6 Key to Success and Critical Issues:

Key to success:

Firstly the analysis the competitors in the market we must know about their strategy and their product which they are selling.
Omni tech identifies their objectives and must work on them.
Company vision and mission must be kept in mind.
Customer is king in the market so this company should understand the customers need to deliver them exactly what the want.
The key to being successful is to take risks, as no one can serve with risk in the market.
Omni tech is the good market brand it should continue the same to achieve desired goals.

Finance: money is the major part to run a business in the competitive market. So if a business has not sufficient money to invest then they can not come in the market. so Omni tech needs to meet financial adviser so they can help to increase the revenues.
Staffing: sometimes hiring people may become the issue of concern. A business could not hire the exact staff which is required for this. If they have untrained staff than definitely this business have to face lots of problems like as handling customer, make them understand and budgeting.
Supply: supply chain problem also matters in this business. It comes with a various reason. So Omni tech should have good suppliers to manage their supply orders in centre place branch.

3.0 Smart marketing objectives:

Target all age group of new customers: It is the biggest marketing aim to a business. Firstly, we need to target new customer 15% by December 2019. We can attract the customers by offering them thru new schemes like buy one get one free. and free unlocking phones .discounts on Accesorries.
Brand awareness: Our business needs to increase brand awareness by 25% by March 2020. It will be possible by the help of social channels such as Facebook, Youtube and Twitter. We can make the shortest promotional videos thru these channels. Especially on twitter because nowadays most of the people are following twitter. As a result, we can get our brand popularity within the given time frame.
Increase sales volume: our business aims to raise sales by 20% till March 2020. To be more exact, we increase sales by giving them offers and creating brand awareness, hiring skilled employees.