Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Essay:
Marketing Plan for Combined Home and Cell Phones:
Home and cellular phones have transformed the communications arena since they have revolutionized the perceptions of people regarding voice communications. Traditionally, home phones have been the most commonly used tools for voice communications while cellular phones remained inaccessible to many customers because of their high costs. However, in the past few years, both home and cell phones have been widely used as communication gadgets. The use of cell phones has been fueled by the investment of time and resources to develop the system's capacity and lessen their costs as well as the emergence of several cellular phone companies. While the traditional home phones are still in use across many residential places, cell phones have become increasingly common because they have been developed into large-scale consumer products. The focus on marketing both home and cell phones acts as a new positioning and beneficial diversification to acquire more market share.
The telecommunications market and industry is characterized by increasing competition, particularly in the cellular phones sector. The increasing competition is fueled by attempts by different players to offer divergent kinds of plans, products, and services in order to attract more customers. Actually, several industry players are engaged in efforts to provide new products, plans, and services on a daily basis in order to attract customers from other companies.
With the increased competition in the industry, the telecommunications market is also characterized by increasing number of customers. While the home phones sector experiences minimal growth of the number of customers, the cell phones sector continues to experience significant increase rise in the number of customers. For instance, cell phones have become the actual consumer electronic devices with more than 59 million subscribers.
Through providing home and cell phones, we will be targeting all segments of people by offering products, plans, and services that meet their divergent needs or wants. For instance, the provision of both home and cell phones will help in targeting customers who can't afford cell phones and those who want to communicate while on the go. This will help in ensuring that customers who spend most of their time at home as well as those involved in frequent movements are catered for.
The political factors of the telecommunications industry that may regulate or control marketing the home and cell phones are the established government legislations on tariffs and products that can be produced. Some of these regulations include taxation policies, trade restrictions, environmental legislations, and employment laws. On the other hand, customers buying power is influenced by economic growth, inflation rate, and exchange rates. Social factors in the telecommunications industry are age distribution, emphasis on safety, the growth of the population, and career attitudes. The technological factors in this industry have an impact on outsourcing decisions, lessen minimal efficient levels of production, and reduce barriers to entry. Some of these technological aspects include R&D activity, technology incentives, automation, and rate of technological change (Singh, n.d.).
Similar to other industries, the telecommunications industry has strengths, weaknesses, opportunities, and threats that affect businesses. The strengths of marketing both home and cell phones include the firm's huge market share in both sectors, product diversification that meets the needs of various customer segments, and brand awareness. The other strengths include a reasonable pricing strategy of home and cell phones as well as the production of quality products for customers.
On the other hand, the weaknesses include the fact that these products do not target business people and the use of features that sometimes become uncomfortable. The opportunities in the industry include increase in demand for cell phones, expansion into new customer target segments, and collaboration with other firms within the market. The telecommunications industry is also characterized by several threats such as difficult expansion into certain markets, increased competition, downward pricing strategies, and decline in the demand for home phones.
In order to gain a huge market share, expand into new markets, and offer products, plans, and services that meet the demands of customers, the firm will adopt marketing objectives that are geared towards accomplishing these goals. First, the firm will on target markets that provide the greatest market penetration i.e. The general users and personal users. This is coupled with plans to offer product and service packages that are suitably priced for each segment as well as those that suit the needs of every…[continue]
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