Executive Marketing
Star Mobiles Inc. is a small and family owned corporation. The company sells Star OS based mobile phones with cutting edge hardware and software (Datamonitor, 2000). The company‘s market base is majorly comprised of youthful individuals aged between 18 and 35 years. An evaluation of the company’s strengths and weaknesses as well as the PESTEL analysis served as the foundation for the marketing plan and strategic analysis. The plan will focus on the internal strengths of the company, weaknesses, differentiation strategy, activities and responsibilities as well as a time plan for achieving the objectives of the plan (Hill & Westbrook, 1997). The plan also focuses on the company’s potential for overall performance, marketing communications in relation to the advertising strategy as well as media and social media tools that will be implemented with the plan in place. The objectives of the company include creating a guideline that will enable the company attain profitability. The plan is also aiming at ensuring growth of the company through brand identity. Finally, the plan will aim at establishing growth of the company in the next five years. The internal strengths of the company can be used to maximize profits while the weaknesses can be useful in identifying areas that need to be improved. Some of the strengths of the company include marketing and advertisement capabilities, vertical integration and a promising brand reputation. The differentiation strategy for the firm will be implemented by the company focusing on advertising products through social media and mass media as well as selling the handsets, which run on custom Star OS, to individuals who need greater functionality in their mobile phones. The weaknesses of the company include the lack of breadth and product offerings at different price points. The lack of diversified distribution channels as well as incompatibility of the phone with other operating systems is also a weakness in the company. With the marketing plan in place, it is expected that Star Mobiles Inc. will be successful in its endeavor.
1.0 Marketing Strategy
This marketing plan will illustrate the market segments as well as the strategies that will be used in getting customers and creating solid revenue streams from the business. The plan will be useful in streamlining the objectives and goals of the company. Our ideal customers who are still youthful prefer handsets that have more functionalities than just making calls and sending texts. This group of individuals loves mobile handsets with fast computing speeds, superior hardware and the capability of installing applications and software that can perform specific tasks.
The objectives of the plan are;
- To create a guide that will enable the company attain profitability
- To ensure growth of the company through brand identity
- To establish the growth of the company in the next five years of business
The branding strategy by the company will be simple with main focus being on quality of devices. Star’s mobile phones will be fitted with high quality hardware components that are durable. With main focus on quality by the company, the company’s brand name is expected to grow. Prices of the products will be determined by adding a markup of 30percent on the products to establish the selling price of the handsets. The company will use company stores as the main distribution channels of the handsets.
1.1 Competition
The company’s main competitors are intra competitors who produce similar products and sell software to end users. These competitors are comprised of new firms and businesses as well as established firms that have produced and sold handsets over the years.
1.2 Strengths and Weaknesses
Star Mobiles Inc. has a number of strengths and weaknesses. The internal strengths of the company can be used to maximize profits while the weaknesses can be useful in identifying areas that need to be improved. Some of the strengths of the company include marketing and advertisement capabilities, vertical integration and a promising brand reputation.
The weaknesses of the company include the lack of breadth and product offerings at different price points. The lack of diversified distribution channels as well as incompatibility of the phone with other operating systems is also a weakness in the company.
1.3 Differentiation Strategy
The differentiation strategy for the firm will be implemented by the company focusing on advertising products through social media and mass media as well as selling the handsets, which run on custom Star OS, to individuals who need greater functionality in their mobile phones. With a successful differentiation strategy that focuses on cost, efficiency and quality, brand loyalty will be created among customers Silfverberg, MacKenzie & Korhonen, 2000).
1.4 Macro-environmental Analysis
The salient macro environmental issues such as the legal, technological, social and economic environment of the country will have an impact on the business. With the fast advancement in mobile technology, the company is expected to keep up with the fast trends and improve on existing technologies (Kotler, 1997). The legal environment in the country will determine to a great extent a number of aspects for the business. Taxation and other policies by the government will determine if the environment in the country is conducive for business. The social environment as well plays a great role in determining the success of the business. For instance, the music culture in the country complements the selling point of the latest handsets which are equipped with music players and high quality headsets. Finally, the economic environment in the country has a great impact on the business. With the growing economy and increase in the GDP, individuals have more disposable incomes and can thus purchase handsets from Star Mobiles Inc.
2.0 Implementation Strategy
2.1 Activities
The main activity in the implementation strategy of the marketing plan will mainly consist of assignments that will address who, where, how and when goals of the company will be realized. The activities of every member will be actualized and implemented within the implementation phase of the plan to ensure success.
2.2 Responsibilities
The hefty responsibilities in the marketing plan will be upon the managers who will be responsible for ensuring that the objectives of the plan are achieved and that they are achieved on time. The other members and staff within the company will make up team members who will ensure that the objectives of the marketing plan are actualized. These teams will work with fine goals that are molded from the main objectives of the marketing plan in ensuring that the plan is eventually successful.
3.0 Five Year Expansion plan
The company’s expansion plan is long term with the management of the company projecting an expansion that will take place for up to five years. In the plan, the company seeks to increase market share, increase growth of the company as well as ensure profitability all through. The main strategy in the expansion plan is to increase the customer base by selling more handsets to more customers. Once customers buy Star mobile handsets, they register online virtual accounts which will store personal content such as contacts, emails and media files. The customers will pay an annual fee for these services which will be treated as new revenue by the company. Within five years, this revenue from the collection of subscription fees is expected to increases the profitability of the company.
4.0 Media and Social Tools
In the development of the plan, both media and social media tools will be used. The company seeks to survey the needs of the market through mass media such as radio (Palen, Salzman & Youngs, 2000). In using the media as a tool, radio surveys through interactive sessions with listeners will enable the company establish the best plan. In addition, the social media, which is currently a popular tool for both businesses and communication, will come in handy while developing the plan. As such, the company will establish a fan page which will be used to observe and analyze customer trends as well as feedback and discussions from customers and prospective customers.
5.0 Potential for Overall Performance
The overall performance of the company will be related to the company’s marketing plan and objectives. Just as a recap, the objectives of the company include creating a guideline that will enable the company attain profitability. The plan is also aiming at ensuring growth of the company through brand identity. Finally, the plan will aim at establishing growth of the company in the next five years. These objectives will be achieved through ensuring that media and social media tools will be used in developing the plan. The competition facing the company being intra competitive will encourage innovation and creativity in the design and development of handsets as well as the software for the handsets. The teams working on implementing the plan will be working under supervision from managers and team leaders. These leaders will ensure that the objectives of the marketing plan are achieved in a timely manner.
6.0 Marketing Communications
The integrated marketing communications relevant to the marketing plan focuses mainly on the company’s advertisement strategy. The marketing communication includes direct marketing of the product to the clients, creating a strong and well recognized brand as well as strengthening the online presence of the company. With advertisement on mainstream media such as radio and TV, brand awareness and recognition is to be achieved. Supplementing the advertisement of the products on social media avenues will only work to strengthen the overall success of the marketing plan.
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