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Transcript of Marketing
Establish ourselves globally as the single, highest seller of customisable phones by 2012
To inspire expression and individuality in all of our customers. Marketing Objectives Competitor Analysis SWOT Market Segementation and Targeting Our Product Implementation and Control References wiw We are launching a fully customisable, full wrap around touch screen mobile phone into the UK mobile phone market
We are a well established telecommunications company with several mobile phone models on the market Introduction To have a 30% share of the smart phone market within 18 months of product launch
Have a 160% return on capital invested into the product within 2 years
To have 70% of target market (13-25 year olds) gain awareness of product measured by sample questionnaires
To expand our product range to three progressive models by 2013 Market Analysis Primary Research - Questionnaire results
39% of people we asked rated a touch-screen facility as a main feature they would like when buying a new phone.
43% of people we asked rated customisation as a main feature they would like when buying a new phone.
47% of consumers see the physical design of a mobile phone more important than the technical aspects and see their phone as a fashion accessory.
Primarily targeting the younger market. Direct Competition
Motorola, Samsung, Nokia, Sony Ericsson, Blackberry, Apple, HTC
Nokia, Samsung, Sony Ericsson, LG, Motorola Generic Competition
My Nayad, Intoro Skins and Skin It (US Company)
Coloured cases, protective cases and battery covers
DVD Players/BluRay Players
Laptops/Netbooks/Notebooks Our product is a full wrap around touchscreen phone, called "Infinite", which has a variety of customisable features that include various skins that can be changed.
A unique function of the phone is that it can appear to blend into a surface, this is done by taking a photo of the surface and it will be applied to the phone as a skin. This can easily apply to clothing and surroundings, therefore making it the perfect fashion accessory.
We will discuss the product in more detail within the marketing mix Macro Analysis Price Promotion Product Our promotional objectives would be:
To create awareness of our product by using creative advertising.
Position the product in consumers’ minds and let the consumers know what the product is.
Inform consumers of what the product entails and correct any misconceptions which will provide support for the sales force. Since our product is visually advanced we will not be advertising on radio, instead choosing media that can show the phone.
Cinema advertising can be used to directly target the market we want and magazines can also show the product.
TV may not be a viable option as it is hard to pinpoint the market we need. Since we are a well established company we can afford to use slightly more expensive methods of advertising such as magazines.
By using skimming methods of pricing, we are hoping to gain a bigger market share and use this in our promotional advertising to draw in more customers. If we find that our product has fallen slightly and we need to produce more advertising to help pick up sales, slightly less obvious methods such as celebrity endorsements and sales promotions will appeal to our target market.
Sales promotion tactics we could use include money off, reward cards for certain shops and competitions to win prizes. Marketing Mix The only P that generates revenue Pricing Decisions and Techniques
Price Maker or Price Taker?
High level of competitive activity
The price of our product, based on looking at the positioning map, competitors, marketing objectives etc we have decided it will be:
£265.99 (Just the handset - no contract)
This is compared to the price of an iPhone 3gs which costs £449 and the Google Nexus One which is £529 Market Positioning 3G popularity is rapidly rising and has now reached 20% of phones
Total mobile phone retail sales are expected to rise by 10% from 2009 to 2013
A recent Mintel survey showed that 60% of consumers said the current economic climate would not affect their mobile phone spending
Saturated Market with 76 million subscribers in the UK
61% of the population currently owns a mobile phone
Orange has the second highest market share with 21%, behind market leader O2 with 25% Some facts about Infinite:
It has easy access to social networking sites via WIFI internet, 5 mega pixel camera, HD video recording, bluetooth and upto 16 gig of memory space. It also incorporates a MP3 player.
It uses open source technology for the development of applications, which can be downloaded via the "Infinite Store", some of which will be free.
It has a long battery life utilising the lastest technology in environmentally sound rechargable batteries
USB connectivity and a universal charger
GPS To inspire infinite possibilities for individuality Place Possible Internal Issues with the implementation/ conflict
•Many assumptions are made about the research, for example it is difficult to predict how our main competitors will react to our product being launched. Could present an issue between marketing and finance department as more capital could be needed for further research
•Our product is highly dependent on the latest technology; it is one of its selling points. Any changes could render the product obsolete and therefore cause issues with implementation
•Need to make sure all departments are motivated and onboard with the project to avoid potential conflict Balance Between Strategy and Implementation
Encouraging non-committed departments to give full support so they can be included in potential benefits from the successful implementation of the marketing plan Contingency Plan
•Fits in as part of the control element
•We want to focus on strategic control methods, however a monthly review of the market, technology, sales etc will have to be done as our product is highly market responsive
•An example of what our plan will include –
Addressing assumptions such as we want to launch our product initially to Orange/T-Mobile stores, but this deal could easily fall through. We could have a contingency deal with O2 in case the deal collapses
The location of launch stores could be subject to change (as will be dependent on Orange/T-Mobile co-operation) this could impact our distribution. Therefore we will be making the phone available on the mentioned company’s websites for sale, so the phone will be available whilst distribution issues are resolved (Bonoma, T 1984) Amazon UK (2010) Technology and Electronics [online] Date last accessed 2nd March 2010 at www.amazon.co.uk
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Wakefield, J (2007) Has touch technology come of age, BBC News [online] Date last accessed 27th February 2010 at http://news.bbc.co.uk We found that as our product is primarily based on the novelty aspect of the customisable, touch screen skins, so it would be most beneficial to target the young, image conscious segment of the market.
We felt targeting between the ages of 13-25 would be the most appropriate as the novelty appeal of the product is less likely to be present above this age bracket.
Also according to a report released by Mintel in 2007, people are now 'getting older younger', this gives us the opportunity to target a younger market than what would have been possible a few years ago. This explains why our segment of the market begins at such a young age. Pestel - Summary