Free SME Product Development A3 Map Dissertation Example
SME PRODUCT DEVELOPMENT A3 MAP
SME PRODUCT DEVELOPMENT A3 MAP
Mobile apps are a significant development that revolutionizes business transactions. In the last three years, mobile phone use has increased by 57.5 percent, while the time spent on mobile apps is approximately 80 percent. This indicates the potential for using mobile apps in business. Given the potential provided by mobile apps, the aim is to develop a scoping study to determine the requirements of developing a business app by Company X.
This study shall strengthen Company X’s potential to:
Be Visible to customers at all times
Create a direct marketing channel
Provide value to your customers
Build brand and recognition
Improve customer engagement
Stand out from the competition
To clarify the functional, structural, and resource requirements for the completion of the project by looking at APP features, Stakeholder mapping, and supporting needs.
To determine the economic necessity of the app by looking at the cost versus benefits and Porter’s five forces.
To understand external factors; regulation, and changes in technology
To increase connection with customers by eradicating ineffective and costly physical models connecting with customers and increasing the visibility of Company X in the market.
Stakeholder management theory:
Customers prefer flexible apps given the ease of use and tracking as well as information they can acquire on the products and services (Demison et al., 2013). The mindset of any customer given an app is that information regarding the app should available at any given time. Having that information should give the user more details regarding the app to make the right decision. Since apps represent the future in terms of information technology, they should have flexibility in regards to most of the aspects of their users.
Sarsa (2017) notes that the application should address the functional needs of the business while fulfilling the customer’s preferences for data integration, backend services, deployment, loggings, interfaces, and analytics. In this sense, the product should not only fulfill the customers’ needs, but also the organizational need. The organizational need involves providing quality services to customers at the same time generate profits while at the same time customers should have an app that takes care of their needs. By doing this, both the organization and the customers could have benefited from the creation of the app.
The product should be made easily available by use of direct marketing. Through direct marketing, customers can have easy access to products which unlike other Apps. Direct marketing enables the customers to have a one on one sessions with the developers of the app. Through direct marketing, any concerns that the customers have regarding the product can be raised. Direct marketing could include anything from phone calls to the use of social media. Given the rising popularity in different social media sites, platforms such as Twitter and Facebook provide a good platform in term of marketing. Through the high number of users from each site, these platforms provide the perfect opportunity for advertising new products.
Third-party relationship and resource mapping:
Sarsa notes that a team of coders is vital in app creation. Availability of resources will be determined by the interaction between application developers and the firm (Rakestraw, Eunni & Kasugnati, 2013). Since application developers are viewed as the backbone to any mobile app. Company, their insights should be highly valued. The developers need to be informed of any decision regarding the company in terms of resource allocation. This will ensure easier cooperation between the developers and the rest of the organization. There is an essential need for the adaptation of a business model that transfers the essential role of resource allocation to the client.
Porter’s Five Forces:
From the client’s side, the buyer’s bargaining power is low given the high adoption rates of mobile apps, low supplier power due to many developers, the high threat of substitution of the app if a better model of delivering customer value arises, strong competition, and the threat of new entry. For the app to be successful, it needs to address all these issues. From a buyer’s perspective, the app should be unique enough to entice any potential buyer. Unique and quality features of the app also work in favor of suppliers as they would supply to Company X only. In terms of competition, the app should ensure that its features are updated. There is a need to be flexible to change with the environment. The threat of substitution from other apps in the future can be dealt with by focusing on the weaknesses of the app developed. Focusing on the weaknesses ensures that other developers do not use them to develop better applications in the future. It is known that information technology is an industry that is characterized by an ever-changing business environment. Dealing with any flaws in the application at present minimizes any threats from competitors in the future.
External Market Forces
Regulations affecting App should include every aspect including health matters of the App affecting users (BinDhim & Trevena 2015, 44). Privacy policies should also be established on the limitations of the APP.
Pricing strategies should be set to enable the App to compete successfully in the already crowded industry (Pai & Li 2014, 261). External factors affect the competition as far as mobile Apps are concerned.
Gantt Chart Timeline
The project will achieve its aim with the approach taking into account organizational needs and incorporating stakeholders. The process suggested ensures the interests of all stakeholders are taken into account. The advantages of the proposed approach are in its comprehensiveness leading to quality outcomes. As for the weakness, it is based on the assumption that it will be adopted by customers which may not happen.
Highlights the need for a mobile app for Company X
The research was necessary to give the growing popularity of the mobile app.
Shows the need to conduct further research to determine the app capabilities that should be included
Further research should focus on market trends and competitor actions
Porter’s five forces were taken because it gives a broader view of the market.
BinDhim, N.F. and Trevena, L., 2015. Health-related smartphone apps: regulations, safety, privacy and quality. BMJ Innov, 1, pp. 43-45.
Dennison, L., Morrison, L., Conway, G., and Yardley, L., 2013. Opportunities and challenges for smartphone applications in supporting health behavior change: A qualitative study. Journal of Medical Internet Research, 15(4).
Pai, N.Y. and Li, Y.M., 2014. Pricing and competition in mobile app markets. 2014 11th International Conference on e-Business, pp. 261-266.
Rakestraw, T.L., Eunni, R.V. and Kasuganti, R.R., 2013. The mobile apps industry: A case study. Journal of Business Cases and Applications, 9, p.1.
Sarsa, H., 2017. Critical requirements of internal enterprise mobile applications. https://aaltodoc.aalto.fi/bitstream/handle/123456789/29361/master_Sarsa_Harri_2017.pdf?sequence=1&isAllowed=y
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