Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

We are the leading wireless communications company n the United States, based in Columbus, OH we provide wireless communication to more than 120. 1 million subscribers. Cruder Wireless also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A DOD 30 company, Cruder Wireless employs a workforce of 75,000 and last year generated revenues of more than $107 billion.

Cruder Wireless was formed on June 22, 2000, with the $52 billion merger of Bell South. Today Cruder Wireless is one of the fortune 500 companies and has received any awards that included JDK Power for five consecutive years in customer service. We are the leading wireless company in G LET and hard line cable. We continue to look for solutions and innovation ideas to enhance not only our business but our customer base as well. Company and Product Company Vision and mission Here at Cruder Wireless we pride ourselves with providing a great customer experience for our customer base.

With the help of our customers and our employs, Our company Vision consist of five words “powerful answers with one solution”. With this company vision we are able to press forward with a mission to adventure into he global market and create a wonderful customer base outside the United States. Product We are a communications company that provides wireless and hard line service to our customer. We pride our fast and large wireless network which is the most reliable within the United States. We do this both investing in our technology and pumping millions each year into our network to enhance the customer experience.

With our incredible device line up and plan options we are able to sell our wireless product to each and every American. With our customers as our number one priority e engage all feedback from customers to help us innovate and provide “powerful answers with one solution”. Marketability: The cell phone market is very dense in India, with many carriers and little customers it will be our strategy to target the younger market as they are the most in need. Our product is very marketable as the cell phone industry is booming and more people rely on wireless than any other service.

We will attack aggressively by showing our reliable network and phones that are offered. We will wow them with our JDK power customer service incentives and bring GLEE to the area. Our advertising will show customer profiles that have witness the greatness of Cruder Wireless in the United States. With marketing in full gear we project to become very successful in India. Marketing strategy Strengths: 1) Network- our network is the most powerful and reliable in the United States. Not only does normal citizens use our network, the federal government relies on it as well. ) Excellent customer service- we provide world class service to our customers and have won JDK power awards for the last five consecutive years. 3) Product development- we continue to lead the industry in enhancing cell waves and out fiber optic network 4) Coverage- we have the largest coverage of cellular waves in the United States Weakness: 1) Pricing- our pricing structure allows us to be more profitable and enhance the customer experience. We are not the cheapest, however our pricing allows us to remain profitable. 2) Coverage- although we have the largest coverage there are factors as regulations where are coverage is not available. ) Features- we offer many types of phones and products, but some features that those phones have may not to capable with our network. Opportunities: 1) New products- developing and innovating new products to our consumers and equines partners. Ex: next generation of data speeds 2) New markets- expanding our network outside the the United States. Ex: India and Germany 3) Expanding beyond Just phones- creating agreements with hard line cable companies to expand to television cable and faster data speeds. Threats : 1) Competitors- with entering the global market there are major competitors such as Aircrew Inc. ) Customer base- establishing a customer base and targeting groups to buy into our product that we are offering. 3)Demand- keeping up with demand in this foreign country as well as the demand in the United States. Alternative Strategies: 1) Reaching out to cable line companies to expand services through hard wire, which will expand our services in hard to reach areas such as India. 2) Staying ahead with data services and focusing on the next generation of cellular services 3) Producing features based on customer needs.

Ex: plans, phone features, and financing. Marketing Objectives Research: With our strategy to enter the global market and enter India as the first country, heavy research has been done to make sure that we are successful with this innovation idea. We have strategically partner with other carriers in the country to sign agreements to use their towers. We have also taken a look at Aircrew Indian’s largest carrier and have found they have been very successful not only in India but in other countries by offering valuable incentives for their customers.

The incentives that have been offer is on their pre-pay side, their pre pay ARPA is very low, so to enhance that number they have offer many incentives such as free activations and lower calling plans (McMahon, A. , Bass, A. , Roy, R. , & Valletta, R). Another major factor we have came across by entering the global market is that there is a mix as showed below Diversity Global marketing mind-set Pluralistic marketing perspective(Mueller, M. , & Harvey) Market Segmentation: By dividing our target market we will be able see where our focus money will be. We are targeting young families and young adults.

With many young families establishing families and homes, we can target our wireless service for the internet needs in the home and phone needs with cell phones. The same with single young adults, targeting college students and recent college graduates we will be able to sell our service aggressively as they are looking for new services from papillary numbers that have been ran. Target Market/ Customer Profile: The market in India is very saturated with many cellular companies such as Aircrew, Irritate, and Reliance Communications (McMahon, A. , Bass, A. , Roy, R. , & Valletta, R) .

We have selected this country because India is the second largest country in the world and the marketplace there is very open. During our internal research, we have found that most of the markets are very open for young families and young adults. The companies listed above have used very unique marketing strategies to have subscribers sign with them. However our internal research has shown that young families and young adults bounce between these carriers because they are not pappy with the experience based on customer service, reliability, and device line up.

Marketing goals Specific timeline for goals: We have established a timeline to market to India and launch our product over the next year. 1st quarter- January 2014-march 2014 ; Marketing campaigns will start via mailings, television commercials, emails, text messages and door to door campaigns. ;New Delhi call center will open with hiring and recruiting in full force. ; Training for all network engineers and leadership will be complete 2nd quarter – April 2014-June 2014 ; Launch date April 9, 2014- the Cruder Wireless network goes live! All leadership from Cruder Wireless will be in New Delhi center ; Continuing marketing will heavy as the network is now live 3rd quarter- July 2014-September 2014 First results for the India market will be presented New phone sent to launch 4th quarter Octobers-Decembers End of the year results Holiday season Based on end of the year results- review operations and expand hiring, network, and devices Wars to reach target market: Our marketing team has established a aggressive marketing plan and analysis to reach our target market of young families and young adults.

Our marketing team will rate multiple TV commercials, internet ads, faceable and Mainstream marketing, door to door advertising, and emailing flyers. By using these strategies we will be able to reach our target market in a aggressive way. We have also created a website to allow customers to become customers online. The website will allow our future customers to create an account, select a phone, select a calling and data plan, and allow the customer to have the device in hand two days prior to launch.

Implementation Plan Methods used to implement to target market: The ways that we intend to gain trust from our target market is to use forecasting ethos used from our company in the US and forecasting from Aircrew and Irritate Breath. (www. Irritate. In/WAP/WAC) Product, Place, Price, Promotion : Product- With our product we will sell our product in an aggressive manner. We will have a variety of calling and data plans, phones, financing, payment options, and accessory offers.

We will maintain our high standard in providing the best coverage along with a reliable network. Place- We have established great channels in India and signed multiple agreements with carriers to provide our services. Our inventory level to begin will be high as we are forecasting great customer reposes based on he preliminary numbers. Our engineers in our website department have been working hard to create a website for our India market and our ready to launch. Price- Our pricing is $10. 0 cheaper than the plans offered by Irritate, we also will have marketing campaigns that will allow all new customer to receive free activations and $50. 00 off any phone purchase for the first month of launch. Promotion- marketing in the India market will be aggressive for the first year as we build a customer base. Door to door advertising, emails, commercials, social media, and our sales force will e very vital. With our center in New Delphi opening before launch we will be able to hit the promotion campaign months prior to launch.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

The view is widely held that consumer behavior changes during recession. According to the Office of National Statistics (ONES), ‘households with annual incomes of 62,000 pounds or above would reduce their annual spend by around 3000 pounds in an economic recession’. Use examples, identify and examine the ways in which consumers in UK have changed their behavior in terms of household spending. How are some companies responding to this change in behavior? Consumer behavior Consumer behavior is the study of the behavioral characteristics of a person as a consumer.

It includes psychological, economic and social factors. “Consumer behavior is the study of how individuals or groups buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The needs and wants of consumers often vary across different cultures, situations and individual characteristics. “(Marketing Management, Kettle and Keller). Proper study of consumer behavior is necessary for the improvement of marketing strategies. Economic recession Economic recession is the term used to explain the condition when the economy has fallen down.

It is nothing but a financial crisis. During recession the economy comes down and it affects the consumer behavior. Recession will make consumers more thrifty (O’Connor 2013) Consumer behavioral change during recession An individual, being a consumer undergoes lots of changes in his buying behaviors during economic recession. Consumers will always try to save money by spending less or going for cheaper items. Some of the usual methods adopted by consumers during economic recession are Save money- due to the economic problems the recession period usually makes the consumers thriftier.

They will always go for cheaper things (O’Connor, 2013). Studies in 2009 showed that consumers buying large package sizes increased by 56 per cent and there was a 25 per cent increase in the selling of locally made cheaper brands at the same time private labeled and local food sales increased by 7. 4 per cent in US(Nielsen survey, April,2009) Changing brands- it has been observed that the people tend to switch themselves to cheaper brands due to economic crisis. A very good example for this is that; In the last 6 months almost 47 per cent of shoppers switched to frozen food and used the left ever for cooking.

This one of the methods adapted by the consumers to avoid wastage. (The New Castle, England) Reduced rate of outings- people use to be more reluctant to come out of houses during the economic recession. Decline of restaurants and retail shops is a proof for this. During recession people generally relay more on buying things online. Borrowing- Another possible thing which a consumer can do while economic crisis is the trend of borrowing. The borrowing trend of consumers increased drastically during the economic recession.

It is usually called as purchasing today paying later strategy. The consumers relayed more in the system of using credit cards. Surveys of British Bankers’ Association (ABA) shows that about 8. 4 billion pounds was recorded on credit cards in August 2013 (Northern Echo, 2013) Escapism- this means the people are reluctant to buy more. They reduces buying of unwanted things The response of companies. For a company to survive, it is very essential to respond according to the situation. During economic recession naturally the sales comes down.

So this proves to be a critical time for the companies too. So they have to adopt new strategies to attract consumers. Different companies have different strategies, these strategies are the marketing skills. They may provide good reward schemes (Marketing, I-J, Tremor Claws) They adapt and prepare themselves to the situation through many methods such as Lowering the price- This one of the most common and reliable methods which a (Placeholder)company can do while economic recession. It simply means selling things at a cheaper rate.

Usually they attract consumers by making discount sale. They prompt the customers to buy more things by putting more discount on larger packages. The Nielsen Survey in April 2009 proved that consumers tend to buy ore large package size(April 2009, Nielsen survey) Special offers- Consumers are more attracted by the launching of many special offers in many shops. Offers like buy one and get one free, 50 per cent discount and many other attractive schemes prompts the consumers to buy more. This helps the retailers to clear out their stocks.

Making a stronger bond between consumer and company- many companies intend to make a loyal following for the customers. This can make consumers to spend more money. By providing attractive reward plans and offering more friendly shopping (Marketing, I-J, Novo. 3rd 2010). The companies provide Loyalty cards, refunds, cash backs etc. The club cards of Tests for the customers has zero per cent introductory rate for more than a year, is one of the methods which was used by Tests to make a stronger relation with the customers(Northern Echo, October 9th,2013).

E-marketing- using the method of e marketing is a very effective method to improve sales. E marketing includes both advertising and selling of products through internet. During economic recession people use to be reluctant to come out, they rather prefer to stay in homes; in this case internet marketing helps to improve sales. Lenten marketing, Chaffed, Mayer, Johnston, Ellis-Chadwick) Study of Office of National Statistics (ONES) on the house hold spending in UK The following graph shows a comparison between volume of House hold spending and disposable income during the period of 2005 to 2011.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

Market Research Before undertaking any research you need to be clear about what you want to find out. Here are some of the questions you might want your market research to answer: What are your products/services? Is there a demand for your product/service? What is the Euro size of your markets? You need to assess the profitability of the sector which you intend to enter. What is your sales and distribution setup? What geographic area will you sell to? How critical is location to your business? Profile your prospective customers – look at population, demographics, income levels,

Study your competitors – who are they, how many are there, what are their strengths/ weaknesses? If you are able to answer these, and perhaps other questions satisfactorily, you should be in a position to estimate the amount of sales you are likely to achieve. The key question is will these sales be sufficient to allow you to operate a viable business? Successful marketing requires timely and relevant market information. An inexpensive research program, based on questionnaires given to current or prospective customers, can often uncover dissatisfaction or possible new products or arrives.

Market research will also identify trends that affect sales and profitability. Population shifts, legal developments, and the local economic situation should be monitored to quickly identify problems and opportunities. It is also important to keep up with competitors’ market strategies. Conducting your market research: Identity and define the problem – Defining objectives is highly important to a marketing campaign. A lot of time can be wasted performing market research on the wrong problem. Analyses the situation – An analysis of the situation is an informal survey of what information is available in the problem area.

It will help you priorities the information you need. It is important to carry out secondary research before primary research, as an expensive primary research survey may be commissioned to provide information already available from secondary sources. Sources of information include: Government agencies such as Enterprise Ireland (www. Enterprise-Ireland. Com), Shannon Development (wry. Shannon-deep. IEEE), Г?dareГs an Chelating (wry. Dares. IEEE), www. Basis. IEEE, www. Riling. IEEE City and County Enterprise Boards (www. Interpersonal. ), Chambers of Commerce or Specialist Trade Associations Local libraries, business magazines and Journals, census information, banks, etc. Pre-study field research – to ensure that you are seeking relevant information. Focus on facts, revert to your list of questions and see if you are answering them. Collecting interesting but irrelevant information is time-wasting Data collection method – concept and test your questionnaire. Make sure that the questions are understandable and will give useful answers 5. Field research – Asking the questions. It is important to select a varied sample group.

Do not base market research only on the opinion of friends and family. You may not get honest opinions. 6. Data processing – Analyses and interpret the information received 7. Reporting – Presenting the information. Research findings and conclusions should be acted upon and should form a basis for the marketing plan 2. Marketing Strategy A marketing strategy identifies customer groups which a particular business can better serve than its target competitors, and tailors product offerings, prices, distribution, promotional efforts, and services toward those market segments.

Ideally, the strategy should address unmet customer needs that offer adequate potential profitability. A good strategy helps a business focus on the target markets it can serve best. Getting your new products/services to market effectively and efficiently is the key to market penetration, sales growth and profitability. This requires detailed market planning including product launch and sales strategies and should be included within your business plan. A SOOT analysis is a structured approach to evaluating the strategic position of a business by identifying its strengths, nakedness, opportunities and threats.

It provides a simple method of synthesizing the results of the marketing audit. Once a SOOT analysis has been completed, thought can be given as to how to turn competitive weaknesses into strengths and threats into opportunities. Be realistic – do not select options which are not likely to be viable or which might be impossible to achieve. Your marketing plan should be based on the latest market intelligence and research, should detail your company’s competitive position and consider both the opportunities and risks in the marketplace.

You need to highlight your attributes: how can your company differentiate itself from the competition? Your marketing plan should also establish the most effective marketing actions required to achieve your objectives and goals. 3. Identify your Target Market Owners of small businesses usually have limited resources to spend on marketing. Concentrating their efforts on one or a few key market segments – target marketing – gets the most return from small investments. There are various methods used to segment a market: 1 . Geographical segmentation – Specializing in serving the needs of customers in a reticular geographical area.

For example, a convenience store may send advertisements only to people living within one-half mile of the store. Customer segmentation – Identifying those most likely to buy the product or service, (based on age, gender, education, occupation, income, status, values, attitudes and lifestyle, etc. ) and targeting those groups. By targeting a specific market, strategies for designing, pricing, distributing, promoting, positioning, and improving your product, service or idea are made easier, more effective, and more cost-effective. 4.

Marketing Mix Every marketing program contains four key components which are combined into an overall marketing program: Products and Services Price Promotion Place Products and Services – Defining the product or service you offer is a critical first step to marketing your business. Product strategies may include concentrating on a narrow product line, developing a highly specialized product or service, or providing a product-service package containing unusually high-quality service Price – The right price is crucial for maximizing total revenue.

Generally, higher rises mean lower volume and vice-versa, however, small businesses can often command higher prices because of their personalized service. Successful businesses maximize their profits by matching their pricing with the value customers put on their products or services. The price you charge will determine your margins and your own salary. Price is closely connected with the credibility and quality of your product or service. You should constantly survey the competition to monitor their prices. Once you have established your price, it is very difficult to increase it without going customers.

Promotion – Promotion strategies include advertising, personal selling, sales promotions, public relations, on-line marketing and direct customer interaction. Good salesmanship is essential for small businesses because of their limited ability to spend on advertising. Good telephone book advertising is also important. Direct mail is an effective, low-cost medium available to small business. Other methods of promotion include advertisements in regional newspapers, brochures, posters, participation in trade exhibitions, markets, etc.

Place – The physical criteria required for the successful operation of any business needs to be determined well in advance. How much space is needed? Consider your requirements: an office will need desks, phones, photo-copier, fax machine, reception, etc. A factory/work-shop may need to consider transport, loading/dispatch areas, electrical needs, weight of machinery, environmental issues, health & safety issues, etc. Is planning permission required? Will you buy or lease? What are the insurance costs? It is vital that you consult a solicitor before signing documents or cake verbal agreements on property.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

The four most advanced countries within this group were Poland, Hungary, the Czech Republic and Slovakia, of which Poland had the largest population and percentage of private sector business, as well as a strong consumer market. It also had good prospects for investment, offered a skilled labor force and faced neither ethnic strife nor border disputes. Having developed a stable parliamentary democracy and signed an association agreement with the European Union, Poland recognizes that to shed its former communist image and face market forces with a proactive, immemorial approach would require major changes in its culture and attitude.

One way in which it could do this was to encourage development in Poland by its European partners, and Poland already had a good relationship with the I-J, which has a Polish community of some 150,000. These rapidly changing political, economic and social factors were key influences in Catbird Specification’s to enter Pollard’s developing market. Another strong factor was that, despite Poland having, at that time, one of the largest confectionery markets in Central and Eastern Europe, one of Catbird Speeches’ major international confectionery competitors had established strong businesses there.

Although the Company could have taken a ‘wait and see’ approach (running the risk of missing a vital opportunity to develop an early market lead), it decided that there were sufficient indicators to Justify an investment in Poland. Page 2: Market entry Catbird Speeches had three ‘route to market’ options to consider in order to respond to Pollard’s market needs. The options were: export from other Catbird Speeches companies acquire or form a Joint venture with a local Polish company Establish its own factory locally.

When Poland first left the communist regime the government pursued a policy of open trade which resulted in a flood of imports. To protect local industry the Polish government established import duties which were particularly high on goods such as confectionery. Under these conditions, exporting to Poland was not an economically viable option to Catbird Speeches. Catbird Speeches evaluated the leading Polish confectionery companies to assess their suitability for acquisition or Joint venture. However, several problems, such as over-staffing or lack of investment, were mound to be common across all of them.

So, having rejected the first two options, Catbird Speeches decided to explore local manufacture as the most appropriate route into the Polish market. Page 3: Market strategy Although the confectionery market in Poland was known to be large, market research was conducted to determine whether that market would be suitable for Catbird Speeches’ products. Tastes in confectionery vary the world over and Catbird chose to manufacture products from its existing range which would particularly suit the Polish taste. It also decided to manufacture a range of budget-priced products under he name of Passionate, Catbird Speeches’ brand in Germany.

Having identified the product range and its acceptability to Polish consumers it was then possible for Catbird Speeches to forecast the potential sales which could be achieved in Poland. This information, together with estimates of the costs involved in setting up and running the manufacturing operation, enabled the Company to determine that the project was financially viable. In 1993 Catbird Speeches took the decision to invest more than Meme in building a factory and developing a new confectionery business on a Greenfield site in Poland.

Page 4: Identifying the site Catbird Speeches began by visiting Poland to evaluate sites in several locations to improve its understanding of the Polish infrastructure and administration procedures, and to assess the general employment situation and skills availability. The decision to develop a Greenfield site at Cobwebbier, near Workload in south west Poland, was based on a number of criteria: overall cost geographical location climatic conditions availability of mains services access to highways and trunk roads distance from competitors large regional population.

A further factor was people. Catbird Speeches would be Joining a local community and would work closely with the local mayor and his staff at Cobwebbier, who welcomed the new investment. Page 5: Construction and engineering process It is not an easy task to build a factory in a foreign country. It requires careful co- ordination and considerable expertise. Catbird Speeches appointed a team of engineering consultants to oversee all stages of the project, from selection of the contractors via a process of tendering, through to the completion of the factory construction.

The construction process was extremely challenging as the factory and offices, covering 9000 square meters, had to be completed, and production ready to start, within one year in order to meet the confectionery selling season of autumn to spring. Time was not the only challenge. Temperature within a chocolate manufacturing plant is a major consideration in a country such as Poland, where the weather varies from -15 degrees C in winter to 33 degrees C in summer. The air conditioning, refrigeration and heating of the plant were key issues, all of which had to comply with local quality, hygiene, safety and environmental standards.

The local immunity also had to construct water pipes, electrical power lines and telephone lines to the factory, and all were completed on time. Building a factory is only one step in the implementation of a production facility. It is important to consider how it will operate, what production techniques it will use and what products it will manufacture. Catbird Speeches formed a technical team to design, engineer and procure all of the process plant and machinery required for the manufacture of the chosen product range.

Also required is a team of company experts who specialist in he business of making chocolate and who understand the technical complexities of making quality products. Page 6: Identifying and recruiting for the key management roles Just as there are challenges in building a factory in an unfamiliar country, so there are challenges in filling all of the Jobs necessary to run that factory. A recruitment strategy had to be designed to meet those challenges: Should Catbird Speeches transfer expatriates to Poland?

If so, how would they cope with the language barrier and the fact that there were no local English-speaking schools for expatriates’ children to attend? Could quality local candidates be found? If not, would potential managers relocate to Workload from Warsaw and other major cities? How important was experience within Catbird Speeches versus knowledge of the Polish market? Catbird Speeches’ human resource management strategy for the Polish project was to identify local candidates wherever possible.

This would give Polish individuals a sense of freedom to manage their business within a familiar environment and according to local needs, supported by resources and experience from other parts of the Catbird Speeches global company. However, there was a now shortage of experience locally, particularly in the finance and marketing functions, so the company anticipated that it would need to have a fair amount of expatriate involvement, particularly in the early stages of getting the Polish business operational.

A multi-disciplinary team was formed to: identify the key management roles to be filled within the Polish operation devise a recruitment plan to attract the best quality candidates prepare an induction and training process for new employees. A structure for the top management team was devised. Job descriptions were then written for the key management roles. To do this, sections about the degree of functional expertise required had to be traded off against knowledge of Catbird Speeches and its operations, local Polish experience and general ‘know-how’.

A recruitment consultancy was then chosen to identify a shortlist of candidates for the key positions. The consultancy used a combination of headhunting (where candidates are approached on a company’s behalf) and Job advertisements in Poland and the I-J. Bearing in mind that Catbird Speeches was new to Central and Eastern Europe, this was very much a learning process for the team members concerned, as they knew little about Polish recruitment practice or hat to expect in terms of quality and experience of candidates.

Some interviews were conducted via an interpreter, which added another level of complexity to assessing candidates. And, before making offers of employment, research was carried out to determine the salary and benefit levels which would attract the best candidates to Join the company. The final decisions on recruitment were taken by the European Managing Director and the Managing Director of Catbird Speeches’ German company, Passionate, who would be responsible for overseeing the development of the Polish company.

Development of an induction plan ensures that new employees deliver effective work performance as quickly as possible after Joining the company. As part of its induction plan for the Polish operation, Catbird Speeches brought key Polish employees to the I-J to provide an overview of the Group’s global operations, an introduction to the company’s philosophies, values and history and then the confectionery industry and Polish market. The Polish team was also introduced to colleagues established businesses elsewhere in the Group, who would be able to provide information and advice when needed.

In new ventures such s this, there is a real demand for company knowledge and experience, particularly in the early stages of development. Such opportunities are often taken up by existing Catbird Speeches managers who are encouraged to move internationally within the Group to gain wider experience, while transferring their knowledge newcomers. Catbird Speeches offers a series of career programmed for Junior and senior managers to gain such experience and managers from the Polish business are already moving elsewhere within the Group! Page 7: Community benefits A new business brings many benefits to the local community.

One of the benefits rived from this project was that the funds generated by the sale of land to Catbird Speeches helped to enable a new school to be built in Cobwebbier. Another key benefit was that, in an area of high unemployment, local applicants secured many of the factory Jobs. Catbird Speeches is also committed to actively contribute to the communities in which it operates and to improve the environment in which people live and work. Its operating units support community activity through locally targeted programmed throughout the world. This may include financial support, commercial sponsorship and the provision of local facilities.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

There are two main parts in this report, which are Analysis and Recommendation for Vitiate Telecoms. Firstly, the report will tell basic information about Vitiate Telecoms with its market share, revenue and position in the market. After that, PESTLE will be used to analyze the external environment of the market which Vitiate is in. Therefore, when we understand more understand more about Vitiate situation, Porter’s Generic Strategy and Insofar model will be applied for identifying exactly the existing cost- leadership marketing strategy of Vitiate.

Besides, Vitiate value creation process model will be shown with facts, figures. Finally, to know about the strengths and weaknesses of Vitiate marketing strategy, apart from evidences and figures found out, SOOT is also used in this Analysis task. In task 2-Recommendation, we will use SMART to create a new good goal for Vitiate and then according to this goal, a new marketing strategy will be given out based on criteria of segmentation, targeting and positioning.

The new approach to the market for Vitiate will be mentioned in this part. B. INTRODUCTION In the mobile phone network provider market of Vietnam today, Mobile, Payphone ND Vitiate are the strongest providers. All of them are state-owned enterprises. However, Vitiate is the only mobile phone network provider belonging to the Vietnamese army. Vitiate Telecoms is now at the top of mobile phone network providers in Vietnam.

In 2013, their revenue is four times higher than VENT, which is the mother company of Mobile and Payphone (They, 2013). Their market share is also highest at 44. 05% in Vietnam (VT News, 2013). Moreover, Vitiate even is expanding their market into foreign countries such as Cambodia, Laos, Timer Lest (Moan, 2013). In order to identify existing marketing strategy, its strengths and nakedness, value creation process and then suggest a new marketing strategy, Vitiate will be an interesting choice. C. THE CONTENTS l.

The marketing strategy and its strengths, weaknesses and value creation process of Vitiate: In this task, PESTLE, Porter’s Generic Strategy, SOOT and the model of value creation process will be used to identify Vittles existing marketing strategy, value creation process and then evaluate the key strengths, weaknesses of Vitiate marketing strategy. 1. PESTLE: PESTLE containing five elements, which are Political, Economic, Social-cultural, Technology, Legal and Environmental. PESTLE model- a. Political: The Politics of Vietnam is only One-party Communist state so the Vietnam policy is very stable.

Vietnam became unified in 1975 after three decades of war (BBC News Asia, n. D). Therefore, Vietnam has a De-regulation trend. This will have a good effect on businesses because businessmen will not have to change the business system following Vietnam party too many times. In 2007, Vietnam officially Joined WTFO (World Trade Organization) (The Ministry of Finance, n. D. ) that brought hopes to many people about a new changing economy. Overall, the effect of WTFO on Vietnamese equines has been being quite light because of the monopoly economic. (General Statistics Office, 2013)- Taxation in Vietnam: Vietnam has many types of taxation. There are some types of taxation, which Vitiate Telecoms must pay for the government when doing the business such as Value Added Tax, Corporate Income Tax. Each organization in Vietnam has to pay a big amount of taxation for the government. In 2013, Vitiate was honored for being the second corporation paying the largest amount of Corporate Income Tax for the government (vituperation’s, 2013). It proves that Vitiate is a big and strong network provider in Vietnam. B.

Economic: After Joining WTFO, Vietnamese economy could take many advantages of foreign investment, export market expanding but also many disadvantages such as being affected strongly from the global economic crisis, pressure of foreign direct investment, unstable products prices (The Voice of Vietnam, 2010). The Vietnamese banks have predicted that the inflation growth could increase to 6,74% that will not go over the predicted figure of the government (Doyen, 2013). Therefore, the inflation might be in the government’s control that is really a good sign when Vietnam is still in economic crisis.

This figure is affected strongly by the products belonging to the government’s management while Vitiate Telecoms is a state-owned enterprise. The Gross Domestic Product growth was 5. 4% over the period 11/2013 (Teaching, 2013). Asian Development Bank (ADS) has forecasted that GAP growth could touch 5. 6% in 2014 that is absolutely not a high forecasted figure (Vietnamese People’s Army, 2014). The Vietnamese living standard will not change much. The way people spend their money still will not go higher strongly. People might focus on saving their money that ill be a challenge for any monophonic network providers including Vitiate Telecoms. . Social-cultural: -Percentage of Vietnamese population by ages (undermine, 2013)- The highest number in Vietnamese age structure belongs to people from 15 to 54 years old (undermine, 2013). The population of Vietnam is absolutely young so their trend is toward ‘Modern’, ‘Interesting’ and ‘Dynamic’. It is seen easily that mobile phone is a indispensable equipment today. Not only in big cities but also countryside, people are using mobile phones everyday so Vitiate could take a chance of maintaining their loyal customers and increasing the number of new customers.

It is necessary to take a look at the number of people using mobile phone in Vietnam at the moment. There were 145 mobile phones for every 100 people in Vietnam (Ann., 2012). The Vietnamese population now is 91,949,482 million according to the newest update in 2014 (World Population Review, 2014). As a direct result, there could be over 130 million mobile phones. It is really an advantage for Vitiate Telecoms. D. Technology: Technology factor really plays an important role on the production and development of the whole corporations today. Even, Vitiate also cannot deny the importance of technology.

Vitiate has applied information technology into their production line (Vitiate, 2013). Besides, Vitiate also should think about using social networks to develop the connection within the corporation and with their customers more. For example, they already have Faceable and Website to communicate with customers but they should promote the activity of Faceable more and make it interesting. Keep is also a good tool to be used in Vitiate remote meeting to shorten transit time. E. Legal: As a corporation belonging to Vietnamese Army, Vitiate has the duty of acting allowing the Vietnamese legal and laws.

Vitiate Corporation should understand and know deeply about all of the laws, regulations relating to mobile phone network, information technology. For example, according to the regulations of information technology, the mobile phone network providers are forbidden revealing or exchanging news, information for the purpose of propagandist invasive war, humiliating personals dignity or creating hatred among nations (Legal Normative Documents, 2012). As a consequence, the Vitiate Corporation should take a deep attention on the legal to act right. F. Environmental:

The environmental factor also has a big impact on the mobile phone network. Many mobile phone users complain that there are many uncomfortable noises if they are using mobile phone network in the rain especially in the countryside (Science Technology System, n. D. ). Moreover, Vitiate also focuses on the countryside market so they should take care about this problem and try to fix it soon. 2. Porter’s Generic Strategy In order to identify more clearly about Vitiate existing marketing strategy, Insofar and Porter’s Generic Strategy model will be applied for. A. Insofar model: The first stage of Insofar is Market penetration.

Market penetration is a strategy focusing on the organization’s existing core strengths toward their existing customers in their existing market (University of Cumberland, 2005). Since Vitiate was established, they have been still focusing on their 8 core values, which are: Practices are the test of Truth Growing up through challenges and failures Fast adaptation is a strong competitiveness Creativity is vitality System of thinking Combine East-West The tradition and method of working from army Vitiate is the common house (Vitiate distribution, 2010) Their marketing strategy also does not change.

It goes toward not only people in the cities but also in countryside in only developing countries. Vitiate is absolutely using market penetration strategy. To be more detailed, Porter’s Generic Strategy will be analyzed. B. Porter’s Generic Strategy: Vitiate is using market penetration strategy but to be more detailed about their existing marketing strategy, we will use this model. Firstly, it is easily seen that the targeting market of Vitiate is really large.

Their targeted customers could be rich or poor people, people in cities or in countryside, from North to South of Vietnam even any foreign countries such as Cambodia, Laos, Timer-Lest, Peru, Cameroon, Macaque and Burundi as the newest updated information (Moan, 2014). Their market is definitely very broad at the moment. To define exactly what Vitiate marketing strategy is, it is necessary to look at the comparison among Vitiate, Mobile and Payphone prices: Vitiate Mobile Payphone Prices of calling within the network of the company 1 . 190 vend/minute 1. 80 vend/minute Prices of calling outside the network of the company 1. 390 vend/minute 1 . 780 vend/minute (Vitiate, 2010) (Mobile, n. D. ) (Payphone, n. D. However, it is not only looking at the figures in real but also responses from sellers or buyers to Vitiate. My team and I did a survey around the old quarter in Hanoi. Every sellers said that the number of customers bought Vitiate similar was highest because prices of Vitiate were cheap. There were also many buyers saying that they used Vitiate because it was cheap especially when their families and friends also used this mobile phone network. Images of my friend and I when we were asking one seller in Hang Be street- As a consequence, Vitiate existing marketing strategy is cost-leadership. . Value Creation Process: -Value creation process models- Vitiate has been doing their value creation process as the model b, which is Value creation and delivery sequence in the picture. Steps below will show their method: Choosing values and positioning them: Vittles customer segmentation is from the urban to rural (with the percentage of rural customers is 65%) (Investment report, 2013).

After researching their customer segmentation, they understand that their customers will want “cheap prices” that is the reason why their market selection is the middle class. Beside, as mentioned above, Vittles primarily marketing strategy is to enhance customers’ belief in a relatively ‘cheap’ price for their products and services from Vitiate. Hence their value choosing is based on this. Provide the value: They first started selling mobile phone services at a very cheap price level. As the state of economy improved and customers have become satisfied with their services at the initial price level, Vitiate appreciated their prices.

However, to ensure that customers remain satisfied, they attached extra benefits, or values, to their products and services as the states of products and services development. E. G: *Customers who use Vitiate mobile phone service receive bonus services at reasonably low prices such as: daily express, weather forecast, custom Remington. *Customers who purchase Vittles mobile phones at Vitiate Store will receive discount on their mobile phone service signed with Vitiate over a year *New customers who signed up for long-term service with Vitiate even get a year free calls within its own network. They frequently provide bonuses for prepaid top-ups. (Vegetal, 2014) For the distributing servicing, Vitiate use a very big amount of small retailers. You can easily and quickly find out a retailer, who selling Vitiate products everywhere in the street. Moreover, they also distribute by their own official agents. Coming to Vitiate official agents, customers can buy Vitiate products, mobile phones from different brands, use Vitiate service to fix problems of mobile phone network. Vitiate official agents really do well at this part.

Communicating values to customers: Vitiate mainly communicate their created values to customers via excessive marketing campaign involving the media. In recent days, Vitiate often advertise newly added features or services attached to their products every once in a while. By doing so, Vitiate ‘remind’ their customers of their good services frequently while advertising for more sales. Their Customers Care Department work ceaselessly to make sure their clients is well-satisfied. They make phone calls to ask for feedbacks, they send birthday gifts and New Year’s wishes.

They do the sales promotion for everyone using Vitiate mobile phone network every month. Customers will receive 50% bonus of money for prepaid top-ups (Vitiate, 2014). Outcome: For Vitiate, they are actually selling MORE products while implying a sense of receiving added values for customers. Their extra-services or cell phones mentioned above come at a medium or high price level. However, customers keep purchasing them due to the blind belief that Vitiate is providing cheap products and services; considering their extra benefits, of scours.

For customers, they DO receive added values to a certain degree as all of the extra features that Vitiate promise that would come with a product or service are real. As a result, the level of satisfaction goes up! However, there are some weaknesses in their value creation process. In a consistently more competitive business environment, other competitors such as Mobile, Payphone also pick up their value creation process. They rival Vitiate fiercely. Vitiate is relying too much, in my opinion, on customers’ loyalty; on the implication of a cheap service provider they made.

However, customers have started to realize that Vitiate is no longer the cheapest one in the market. The table above will show an example of prices among Vitiate, Mobile and Payphone. Price of sending messages within the network 300 vend/message 200 vend/message Price of sending messages outside the network 350 vend/message 250 vend/message Beside, some of their added values are not suitable anymore. For an instance, the news express service on their mobile phone is actually annoying customers more than satisfying them.

This is due to the fact that modern technology allows people to gain access to the Internet where they can find and read all the updated news they need. Hence, having a text-based service that comes with extra fees is not the most convincing idea. 4. SOOT analysts We will analyze SOOT of Vitiate. Strengths Good financial budget supported from the Vietnamese government Corporation runs as a united system. Strict and very close tradition inherited from the army Highest market share: 44. % (WAC News, 2013) Broad network Customers services, behaviors of staffs make customers comfortable Weaknesses Quality of products are not really good especially G Ambiguous calculation of customers’ use of mobile phone network Do not have change to products or services Inexperienced in managing Opportunities Cooperate with companies owning free APS of calling and messages Invest more on technology to maintain loyal customers and the market share Strongest mobile phone network providers for high quality with low cost in Vietnam Good human resources based on the Vietnamese young population Threats

Controlling human resources still gets trouble Technology is easy and quick to be old Foreign brands with new technology want to attack Vietnamese market Free APS for free calling and messages such as Fiber, Line, Kaka Talk 5. Key strengths and weaknesses of Cost leadership strategy: From the SOOT of Vitiate, in this part we can recognize clearly about the strengths and weaknesses of Vitiate strategy. Vitiate understands deeply the mentality of customers that they want good products but in a low cost.

As a direct result, Vitiate marketing strategy is focusing on making customers know that Vitiate will provide high quality products tit the lowest cost comparing to other brands. Thinking about Vitiate, thinking about cheap prices. Their marketing strategy makes people think that using mobile phone network is a basic and everyday-need such as eating and drinking. It could be considered as a good strategy. However, this strategy might be not suitable for today. With many attacking of free APS of calling and messages, customers reduces a big amount of using traditional calling and messages services, which are exactly 26.

They feel unnecessary to use 26 services when they can only pay a certain amount of none for 36 or wife to use many APS for calling and messages unlimitedly. Besides, the marking strategy of Vitiate does not have any change in many years. They only focus on cheap prices whereas Mobil bone and Payphone also reduces their prices a lot ( ). Customers do not feel that Vitiate can bring more new benefits to them. However, Vitiate has been doing a very good point in their marketing strategy.

Start from their slogan “Say it your way’, Vitiate has been successful on using their slogan, as a part of marketing strategy to convey their idea of caring to their customers (Marketing Vietnam, n. . ). By hearing and seeing Vitiate customers, they feel that they are cared respectfully. Their marketing important point is that “Customers’ benefits come first, ours later” (Marketing Vietnam, n. D. ). Vitiate also stresses that they are a mobile phone network provider belonging to Vietnamese army so their products quality must be always made sure highly.

II. Task 2: After understanding about the current situation and existing marketing strategy of Vitiate in task 1, we will use the SMART and STEP model to suggest the new marketing strategy for Vitiate. 1. Goals and Objectives: Using SMART model we can create new worktable and possible, reliable goals and objectives for Vitiate. The new goals for Vitiate will be increasing their market share from 44. 05% to 50% and raise the level of profit by 9% in Vietnam comparing to the last year in the next two years. 2.

STEP applied for new marketing strategy: This part will suggest Vitiate marketing strategy in segmentation, targeting and positioning. A. Segmentation: Vitiate should apply Geographic factor into their marketing strategy. Vitiate geographic will be divided into two places: city and countryside. In fact, 65% Vitiate customers belong to the countryside (boatload, 2013). The living standard and lifestyle in countryside is clearly different from the city in Vietnam. Internet with website, social networks are not really popular here so Vitiate should do the marketing activity mostly by television, banners or posters.

In cities, Vitiate had better use social networks such as Faceable, Twitter, and advertisement on Fiber, Line, Kaka Talk to promote their images on customers’ mind more. Besides, using social networks to inform consumers about promotion and new products is really effective. B. Targeting: As we have seen the chart of Vietnamese population in part 1 of task 1, Vietnamese population is absolutely young so Vitiate marketing strategy should take the Vietnamese young as their targets and put the marketing strategy toward them.

Current trend in lifestyle leads people to paying more attention on appearance and status. As a direct result, the key point for marketing strategy is making Vitiate to a higher level of brand status and image. Besides, marketing about customers’ service is extremely important especially with people today, who not only care about the quality of product but also its service. . Positioning: At the moment, Vitiate is doing quite well this step. Vitiate has the highest market share in Vietnam. Their revenue is four times higher than VENT.

Every seller said that the number of customers buying Vitiate similar is biggest. In other words, Vitiate is on the top of mobile phone network provider now. However, to maintain their position in the market and customers’ minds, Vitiate still should think about a really new or updated marketing strategy. 3. Suggested Marketing Strategy in details: Vitiate could find out a new approach to their customers by using social networks. Other mobile phone network providers such as Mobile, Payphone are not using social networks really effectively.

There are not many subscribers in their Faceable accounts. Moreover, some negative comments also appear on their Faceable. Taking advantage from that, Vitiate should concentrates more on Faceable. For example, Vitiate could post news about how to use mobile phone well to avoid bad effect from the mobile phone waves or short fun and meaningful stories about mobile devices, network and connection among people. Besides, using Faceable or Twitter to inform customers about promotions really works because the amount of people using these two social networks is absolutely high.

Another good idea is designing game for people using Vitiate network or coming to Vitiate stores. For example, every people coming to Vitiate stores in three certain numbers of days will have a chance of enjoying game to win big prizes. Moreover, Vitiate also sells a large quantity of different mobile devices in their store so Vitiate can give out some advertisements such as video clips posting to Youth about mobile phones Vitiate sells. Vitiate has reached to the top of mobile phone network providers with proved real figures.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

The cost to the organization’s bottom line of employee remover can hinder the business. Training a new employee would cost the organization a lot of money. When there is a high turnover, it would interrupt the flow of an organization, it makes managing harder, and there will be extreme costs. Morale among the employees will be very low and productivity will be reduced. It will be difficult to motivate the remaining employees since they would have to pick up the slack for the employees who were either terminated or resigned.

The employees whom have remained might also be going through stress as they would have to deal with welcoming the new employees, Just to lose them shortly after. High turnover rate can also affect indirect costs, such as Job injuries and relationships with the customers. 2. How might we attack the problem? In order to attempt to solve the problem, Job satisfaction needs to increase and the social environment will need to improve.

They also state that having a retention program will be useless without having retention goals . The hiring process will need to be improved in an attempt to solve the turnover problem; better hiring decisions will need to be made. It appears that the hiring specialists for Wally are hiring the wrong people for the wrong Job. A new system would need to be implemented that will screen applicants to weed out anyone that does not have the minimum qualifications needed for the Job.

After a group of qualified candidates have been selected, using the employee assessments will assist in selecting the right candidates for the Job as it will provide valuable information about how each candidate compares to those who are currently the top performers. This process will save time and money; as well as improve the quality of the new hires. The work environment can be improved by ensuring that there are good work conditions. Benefits, like invention parking and flexible schedules, would help improve work conditions. Ultimately, having turnover goals or a retention plan will help determine how to attack the turnover problem. . What do we need to decide? Determining if the turnover goals are feasible and if the plan will be easy to implement will assist in knowing if it should be carried on. Looking at time and cost are important in order to be able to determine if the retention plan can be implemented. One of the things that Wally can do is to not wait until turnover costs have become high before implementing the retention plan. The plan should be implemented before the situation becomes a crisis. Holman and Sided point out that “understanding the factors that contribute to satisfaction and turnover intentions is of paramount importance”. . Should we proceed? Evaluating why employees left and other stayed is important to understanding what plan of action should be taken and how it should be implemented. This leads to the next aspect to look into, which is surveying the top performers in order to understand why they remained and find out reasons as to why anyone would leave. This would be beneficial in improving the needs of the organization. The outcome of his strategy would allow for the improvement of the organization based on the feedback provided by the remaining top performers instead of focusing on the complaints.

Of course, ensuring that the time and money is available would allow the plan to be implemented. 5. How should we evaluate the initiatives? Evaluating the top performers and researching the reasons why employees left or remained is crucial as this will allow Wally understand what needs to be improved in his organization. Wally will need to ensure that his human resources specialists are hiring the right people for the right Job because the wrong people will Just leave worthy after being hired and that will end up hurting the organization’s bottom line.