Marketing Strategy of a New Cell Phone to Be Launched - Business Plan Example

Environmental analysis, marketing strategy, and marketing mix for T-38 Introduction Since the emergence of new technology, the life of human beings has changed considerably. Technology not only gives organizations edge over their competitors but also helped them communicate globally. This advantage has made the world a global village. Organizations have spread their business all over the world. Organization get opportunities to explore the new environments around the world, explore and exploit them according to their products. The most important invention is computers, which has changed the life of humans. Other inventions include cars, aero planes, and cell phones. Cell phones or mobile phones and also known as cellular phones have changed the communication scenario completely. If you live in Canada you can communicate to your relative in Australia in a second by dialing his or her number. Cell Phone industry is the largest growing industry right now. The most surprising situation is that cell phones have been successful in the 3rd world countries as well. A Cell phone enables the user not only to communicate but now new and better technology enables us to use the cell phone as a camera, and radio. New cell phones in the market also have the capability to connect to the Internet. Different organizations manufacturing cell phones have spread their operations worldwide for example Nokia, Sony Ericsson, Motorola and LG. The products they launch are usually launched in the market with different marketing strategies, the hype is created before the product is being launched and the customers are already asking for the new model of the cell phone. In this paper we will discuss about the marketing strategy of a new cell phone that has to be launched. About the product TF mobile Model: T 38 Price: US$ 170 Specification: Full 16-bit Color Screen FM Radio Internet Connectivity (GPRS) MP3/AAC/MP4/WMA player 1 GB built-in memory with MMC card slot 2.0 Mega pixel camera with video Loudspeaker Organizer (E-mail, Calendar, Calculator) Environmental Analysis PEST Analysis: Since organizations do not operate in a vacuum it is important that they consider the external business environment as well whch is equally important. Pest analysis looks at four important external factors : Political Economic Socio-Cultural and, Technology we will be looking at each factor sepeately for our product. Political: The political factor is important as it can affect business regulations. Matters such as government policies towards cell phone manufacturers, marketing e.t.c these factors gain even more importance if the organization operates in more than one country. In this case it will be important for TF to understand the different laws and specific regulations that would apply on its product. Given that TF operates worldwide the political factor becomes even more important. Economic: Organizations need to consider economic conditions of the place where they are launching the product. If a product that has good market feasibility in terms of expected demand but is not priced accordingly it will never succeed. Future economic conditions of the place where the product is to be marketed are also important such as the per capita income or inflation. Socio-cultural: The socio-cultural factors are the basic elements that constitute a society. This factor influences peoples choices and therefore TF will need to understand the socio-cultural factors. These factors ultimately shape the other external factors: Environmental issues: One important cellular phone issue is user concern for radio emissions. TF will need to effectively address these issues. Demographics: One important question that arises in demographics is which age group to target and what are their views regarding our your product & industry; Technological: This factor obviously has the most effect on the cellular phone industry. The speed at which technology is advancing is simply mind-blowing, so TF will have to keep up with the changes and introduce upgrades or entirely new range of cell phones. Another technological perspective is that TF can market and sell its new product on-line as well. Marketing Strategy TARGET MARKET: The product is targeted towards trendy young people within the age bracket of 20-40 years, belonging to the middle and upper-middle class. The target market includes both men and women. MARKET POSITIONING: The cell phone will be positioned amongst moderately high class phones of its categories. It can be compared with Nokia’s 6230, 6230, 6300 and Sony Ericsson’s K700i, Motorola Rizr. Marketing Mix PRODUCT: TF’s T38 is a stylish flip top cellular phone, which has been specially designed for people who love adventures and colorful cell phones. The product is offered in a variety of colors ranging from yellow, green, blue, red, pink, black, white and silver. The cell phone has been designed by our special developers who researched for almost a year before the design was accepted. The T 38 offers internet connectivity that helps people stay connected while traveling. The cell phone also offers interactive games that are fun to kill time. The T 38 carries a media player that can play music and video files with a single click. The 2 mega pixels camera enables a user to capture memorable moments vividly. The cell phone package will carry a headset (hands free), an extra battery, charger, a compact disc containing the relevant software and a USB cable. T-38 will carry one year international warranty. PRICE: The price of the cell phone has been decide considering certain factors that include the features of the cell phone competitors pricing target audience The price of the cell phone determines its standing among other cell phone of the same caliber. Since the cell phone will be sold in different countries, the price will also depend on the region and the country’s economical conditions but the variation would stay in between a certain limit. If a customer will order the product during the first month of its launch he or she would get a special price discount 10 percent. The cell phone will also be available online at the company’s web catalog entailing free shipment to customers at specified locations. PLACE: The cell phone will be available at the company outlets throughout the world. On the internet at the company’s website and the firm will also contact distributors that are willing to shelf the cell phone for promotion and sales. PROMOTION: The product would be first promoted through personal selling, and advertising before its launch. Billboards would be set up across the country to give the product’s marketing an additional support. The preferred channel of marketing would be Television and radio. The budget allotted to the marketing campaign is yet to be decided but the decision would be made by the regional and the respective country managers. Conclusion Marketing strategy is one of the most important components of any product. As a marketing strategy decides the success or failure of a product, every organization looks to make a perfect marketing strategy to launch its product, but it’s not always possible to make a successful launch. The marketing strategy that has been presented here has been made according to the best possible alternatives available. The strategy covers all the aspect of the cell phone T 38 that can be used to promote it. The organization will have to utilize all the possible resources that are at its disposal to make an effective launch. A perfect strategy can be formulated by combining the technology and human brain hence in the above strategy the combination of both has been used. To gauge the success of the marketing strategy the company will conduct a market research after 6 months of launching the T 38. The research would measure the popularity and the penetration of the cell phone in the target market. Bibliography: Steven P. Schnaars. (November 17, 1997). Marketing Strategy. Free Press; 2 Rev Sub edition William M. Pride, O.C. Ferrell. (January 1, 2006). Marketing Concepts and Strategies. Houghton Mifflin Company; 13 edition. David Williamson, Peter Cooke, Wyn Jenkins, Keith Michael Moreton. (December 17, 2003). Strategic Management and Business Analysis. Butterworth-Heinemann. Robert M. Grant. (January 1, 2005). Contemporary Strategy Analysis: Concepts, Techniques, Applications. 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