Factors and Criteria That Determine Which Brand of Mobile Phones Will Top Today - Essay Example

There are several factors that affect how consumers choose between mobile phone brands and it is these factors that determine which mobile phone brands are likely to be at the peak of the industry.

Mobile Phone Brands
Introduction
The mobile phone industry refers to the sector of the economy that deals mainly will the production and distribution of mobile phones. The mobile phone industry, also known as the Cell phone industry has had a high growth rate globally over the past few years. China is the largest manufactures of mobile phones in the world and accounts for about 50% of global cell phone production (Kushchu, 2007). The mobile phone industry is one of the largest sectors of the global economy. The number of subscribers for various mobile phone companies has been increasing at a higher rate in the recent past. The industry has also been able to expand due to the increasing demand and expectations about the types of features they want in mobile phones.
The global mobile phone prices have been decreasing due to the availability of more mobile phones as compared to previous years (Kushchu, 2007). The huge supply of cell phones has contributed to the increase in the supply of mobile phones. Major players in the mobile phone industry on the global scene include Samsung, LG, Nokia and blackberry among others (Kushchu, 2007). The emergence of smartphones has also shown the industry a little bit with the majority of people dreaming of owning a smartphone. Smartphones provide greater capabilities to individuals as compared to common feature phones.
Discussion
There is intense competition among major global companies in the industry. Each cell phone company tries hard to produce cell phones that are acceptable to most consumers in order to gain a better share of the market (Kushchu, 2007). This competition has led to great innovation that has seen mobile phones with great features such as MP3 and video players, cameras, wireless internet, games, and application among others playing a significant part in attracting more customers. Mobile phone innovation has come a long way and the future still looks bright, with the innovation of smartphones taking the mobile phone market by storm in the recent past.
Changing consumer needs over the years have been very fundamental in the revolution of the mobile phone industry (Kerlinger, and Lee, 2000). Initially, mobile phones were only used for voice communications and text messages. With time, however, consumer needs began to influence the industry to change as companies sought to bow to consumer demands. Consumers prefer mobile phones that allow them to share information and other multimedia devices such as images and music, have internet access and entertainment.
Global mobile phone sales account for up to 60% of all electronic sales (Liu, 2002). This implies the growing demand for mobile phones across the world. With thousands of mobile phone manufacturers and different brands around the world, consumers are spoilt for choice over which brands to buy. There are however various factors that determine consumer decisions on which cell phone brands to purchase. It is these factors that determine which mobile phone brands will be at their peak at any given time. Mobile phone brands that have the feature that consumers want are likely to stay at the peak of the industry as compared to less innovative brands.
Despite the selection of mobile phones being a subjective issue with most consumers having different opinions, there are various factors that are common to a majority of consumers. These include price, the value of the brand, interface of the cell phone, and properties and features of a mobile phone (Liu, 2002). With regards to price, consumers want mobile phones that are affordable. Affordability in this case refers to the best value for money. If a mobile phone offers a wide range of features and capabilities at a reasonable price, then it will be considered to be affordable. The other factor is the value of a particular brand. Some brands are more valuable than others. The value of the brand refers to the brand equity of a particular brand, which is achieved over time when a brand manages to convince consumers that its products are durable, reliable and user friendly. Some consumers are willing to pay more for valuable brands than to spend on less known brands. The other factor is the features and properties that a mobile phone offers to consumers. These properties refer to the phone memory, user-friendliness, among other features such as internet access, games, applications, powerful camera, music and entertainment, and easy sharing of information among other features.
Conclusion
Best-selling mobile phones are the ones that meet the demands of consumers with regard to the factors identified above. The key factor to determine which mobile phone brand will be at its peak, both presently and in the future is the fact that only those brands that respond to consumer demands at any particular time will be best-selling brands.