Marketing Management Assignment Sample
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Executive Summary for Sample marketing assignment
This marketing management assignment sample is written to do strategic marketing analysis for Allophone- a medium size mobile phone company in Australia. This is important since the growth and development of a business is highly dependent on the consumers. Due to the growing completion companies are now coming with new and innovative ideas to advertise and market their products so as to increase their sales .This report is presented by one of the chief telecommunication company Allophones, in Australia.
New technologies have not only affected everybody’s life but it has adversely changed the life of people. Nowadays life seems to be tougher without smartphones. Seeing the need and the demand of smartphones most of the people are investing in smartphones and broadband services.Allphones which was established in the year 1989 has at present 15 and more shops all over South Australia. The company basically sells handsets, tariffs and accessories of handsets and provides services like broadband connections. This report has been made to understand the significance of market segmentation and what strategies should be used to increase the sales of products sold by the company.
Market segmentation is done to efficiently market and advertise the services offered to the consumers. Before preparing a market plan for increasing the sales of the company there are certain factors which should be considered, among which, one of the important factors is the analysis of the consumers, like their choices and inclination towards a particular product or service. This report drafts the complete analysis of how the segmentation of market is done and the importance of 7P’s that is mainly used for marketing (Nimako and Azumah, 2009)
Customer Perceptions & Analysis
Whatever production activities a Company is involved into, it mainly focuses on the services it provides to the customers.Organisations give more emphasis on developing strategies to attract customers without worrying about the size and nature of production activities. To successfully achieve this target, Allophones tries to recognize the changing behavior of customers. As different customers have different priorities for their handset which is based on their budget, usability and sometimes the model of the handset (Nimako and Azumah, 2009)
Allophones properly analyses the different challenges associated with telecommunication industry and this analysis will help to prepare a better plan to meet the need of the customers as this is important for establishing a long lasting relationship with the existing and good clients (Deloitte Access Economic, 2009). Customer analysis is done to establish a faithful relationship with the customer so that they stay with them for a longer period. Services and offers provided to the customer should be good enough to attract and catch eyes of the customers so that they visit the stores again and again for buying different products.
For achieving this it is very important to recognize the eye catching factors for the customers and to understand how to increase the quality of services so that the customers remain faithful to them and are not diverted. Customers’ experience with the company depends on a lot of factors .Allophones strongly understands the importance of providing timely and reliable services to the customer to retain them with the company for a long time .Presently the telecommunication service provider in Australia has grown in numbers which has resulted in increased competition in the industry and has created a market where consumers have lots of options to choose.
To achieve a higher share in the market the company attempts to keep the cost of services as low as possible. In addition to this, network connection has its own importance in providing good services to the client. And to prepare an efficient plan it is important to understand the needs and expectation of the customers .It is obvious that telephone users opt for package that provides best service in low cost. For this, the company introduces different plans to meet the purpose. The increasing demand of smartphones have also increased the demand of cheap and reliable internet connection(Deloitte Access Economics,2009).The increased number of service providers has created many options for the customers and they can switch to any service provider any time. The only thing along with the service that will retain the customer with the company is the low cost of the service. The increasing competition in the market has compelled the company to introduce good tariff plan to attract the customers. (De and Kathleen, 2012).
External Environment Analysis
Macro Economic Analysis
The Allphone management will have to think from different point of view as size of telecom business in Australia is huge with an estimated size of around 7.5 billion dollar and it is estimated that it will grow for next five years at rate more than 8-10% as per HSBC report. The Market is saturated with large no. of giant like Vodafone, Uninor etc. but still there is place for players who will serve great passion at economic rate.
The estimated industry revenue is $2 billion per year and it is also going to increase at same rate as mentioned above. Hence, the entire strategy of the Allphone should be made on the entire market prospect where forecasting of the sales will start from with new customers acquisitions The whole business opportunity will be analyzed through macro analysis as given below:-
Technology plays a very important role in developing many products in telecom industry. There are many advantages of the new technologies for both company and consumers and which are as follows:-
Now the costumers are more satisfied due to the instant and quick availability of the products.
With the help of these technologies, company can provide better and much personalized services.
And shopping is now more convenient for the costumers.
There are many legislations and policies of government by which the Company in this industry performance is directly affected. For example, an enforceable Code of Practice must be put up all the current practices must be banned such as asking for the payments from suppliers and the agreed prices are changed without any notice. A threat of severe wars in price of the products and strong necessities for the differentiation of products is created due to presence of many strong competitors with well-known brands. The policy of the government for monopoly can control and lessening the power of buyer can restrict this section’s entry through such controls like requirement of license and limitation or restriction is there to access the raw materials.
Many economic factors affect demand, prices, supply and profits, so are of great importance. Highly unemployed population is one of them, which is not demanding for products, resulting in decreasing productivity. These factors depend largely on the factors exterior to the company; however they deviate the outcome and their performance.
Hence, the technological, legal and the economic factors will determine the future growth of the industry. As we already saw, the bad global economic conditions severely affected the international sales of the company.
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