Marketing Strategies and Programs of Vodafone - Report Example

Vodafone’s market analysis] Presented By To Department Table of content Contents Contents 2 Executive summary 3 Introduction 3 Terms of reference 4 Situational analysis 4 SWOT analysis 4 PESTEL analysis method 7 Differential advantage/ competitive edge 10 Porter’s five forces 11 7 P’s of marketing 12 Product 12 Place 12 Prices 13 Package 14 Promotions 14 People 14 Positioning 14 Segmentation 15 Marketing objectives and goals 19 Marketing strategies and programs 20 Recommendations 23 Conclusion 23 Reference List 25 Executive summary Vodafone is one of the largest mobile network providers in this current generation. The company provides its own mobile network or partners with other providers. However, there has been a continuous drastic drop in the company’s profit since 2006. Such drops have been associated with poor marketing. This work will elaborate on the market analysis methods employed by the company, and these are SWOT and PESTEL analysis methods. It will also explain some marketing elements like Differential advantage and competitive edge, segmentation targeting and positioning among others to ascertain the suitability of the company. Finally, suggestions on the best ways to improve the company’s marketing will be. Important information will be attained from certified financial analysis companies like Forbes, Financial journals and articles, Company’s financial statements posted on the internet like the annual financial report for the year 2013, interviews from relevant experts and the company’s updates on various media platforms among other sources. Introduction Vodafone is a multinational multibillion telecommunication company. Vodafone manufactures mobile phones and provide its own mobile network in about 21 countries and partners with other mobile network providers in about 40 countries, however, its headquarter is based in London. In 2002, the company had an estimate of market capitalization of 89.1 billion pounds. The company was established in 1982 as Racal Strategic Radio Limited and has gone through a series of business evolution till it adopted its current brand name, Vodafone. Currently, the company offers various mobile services other than the mobile network and these include electronic money transfer (Mpesa) in Kenya, Uganda and Tanzania among other nations (Harrisson, 2009: 43). Vodafone later partnered with Visa to come up with Vodafone Mobile Wallet which first experienced in Germany, Netherlands and Turkey among other nations. The company has also partnered with various health care institutions to care of its subscribers. However, despite its massive operation, the company’s revenue has continuously reduced since 2006 and this report tends to tie such drop in profit to poor marketing strategies employed. Terms of reference Vodafone wish to improve its marketing strategy after a comprehensive analysis of the current situation. The company plan or wish to double its subscribers two years to come. The plan will be seen through by various stakeholders like the shareholders who will decide on the amount to be set aside for the plan; the general managers in various regional companies will collaborate with the marketing managers to see the plan come through. The company wishes to contract various advertising agencies, national and national TV and radio broadcasting channels among other relevant companies to improve its marketing (Proctor 2000: 66). Vodafone will engage its legal team in the entire process to ensure all legal implications are well handled, the best interest of the company. Some constrains could evolve in the process like poor response to the marketing strategies but Vodafone plan to conduct a comprehensive marketing research before any implementation. Situational analysis SWOT analysis SWOT analysis is one of the most used methods to analyze the current businesses’ market. It entails the strength, weaknesses, opportunity and threats facing the business. Strengths Vodafone’s strength is based on it being among the first mobile network providers in the mobile network market. From the financial analysis report in the appendix, The company provides basic services and it made accrued increase in turn over from 2006 to 2012 and this a clear indication that the services demand grow as time advances. Demand in communication services increases as population increases and this shows Vodafone is still there to make lot of profits. Vodafone strength is further linked to its faster moves or initiatives to solve subscribers’ urgent needs. Currently, Vodafone is the strongest mobile network in many parts of the world and this means that the company ensures quality calls and short messages, strong internet connections among others. The company operates in an era when communication is one of the most developmental tools, and this has greatly boosted its operation (Henry, 2008: 30). The company’s strength is also attributed to its extra services like the electronic money transfer, Mpesa and Vodafone Money wallet among others. The initiative attracted majority of the low and middle class whose net worth could not enable them deposit their money with the traditional banking companies. The move saw Vodafone attract more subscribers that were initially subscribed to the company’s competitors. Still on its strength, the company targets both the rich and poor unlike its competitors who focus more on the rich, not knowing that the middle and low class earners are the majority. Vodafone has funded various community projects as social corporal responsibility (SCR) and this has greatly strengthened the company’s ties with its customers (Noe, 2008: 69). The company through its regional managers arrange with the local authority to initiate relevant projects like boreholes, classrooms campaigns against various diseases and marathons to sensitize the community on important issues among others. This has enabled the company win more subscribers. Weaknesses However, Vodafone has some weaknesses for instance, from the appendix, the company reduced its turnover in 2013 and this could be attributed by poor marketing and increased competition among others. It is been lamented that it the most expensive mobile network in terms of call, SMS and internet charges. Secondly, the company does not respond to its subscribers queries among other needs in good time. This has seen some move to other networks or seek additional network to Vodafone. The company seeks the best brains from international universities like the MIT and this becomes a huge problem when such geniuses are send to work in regional branches in various nations. The natives usually feel they also have people with good brains who could have filled such positions (Proctor 2000: 34). This compromises the company’s relationships with its customers. Opportunities With regard to its opportunities, the company still has room to evolve even further. The current rate of humans population rise is very high and this means the company is yet to have increased subscribers. This is due to improved health care among other factors. Vodafone being one of the best mobile network providing companies enables it attract the best graduates in various fields that will maintain and even better its current standards (Marks, 2007: 45). The company currently partners with local banking institutions to enable their subscribers deposit, withdraw, pay for goods and bills, seek and repay loan among other services. In Eastern and Central Africa, the service is dubbed “Mshwari”. This is a huge opportunity for Vodafone as various financial researches in such nations reveal that majorities are low class earners and they do not have sufficient resources and knowledge to seek the local banking facilities. Vodafone through its partners came up with Mshwari so that the subscribers do not have to line up but simply transact wherever they are. The service is convenient, reliable, efficient and affordable as one can deposit as low as a dollar in his or her account (Leymer, 2002: 20). Registration is also first unlike in the traditional local banking facilities. Threats Vodafone tends to have some threats in its line of operation. First, the competition in the mobile network industry is currently intense. Although Vodafone were among the first mobile network company to be established, there came more similar companies and some Vodafone’s subscribers either join the new companies or seek additional services from the new entrants. Vodafone offers quality services due its sophisticated equipment like the network boosters, experienced personnel and good marketing strategy and this means that its charges must be raised slightly to meet the cost. This is a great threat as its competitors do not invest on good quality services and in return charge less than Vodafone. This attracts more subscribers to join Vodafone’s competitors. The other threats are the regional or national policies that compel the company to subsidize its charges despite the high operational cost (Proctor, 2000:501). Fluctuations in the world’s economy has also seen the company make huge losses, for instance, the company face huge challenges after the global financial crisis in 2008. PESTEL analysis method PESTEL method analyzes a business with regard political, economic, social, Technological, environmental and legal implications. Vodafone complies with the stipulated local and international business policies like tax policies among others (Holland, 2009: 67). Furthermore, the company does not meddle in any political affairs as this could comprise its relations with some subscribers. However, Vodafone has been in the front line campaigning for peace and harmony in nations prone to political violence, more so in developing nations. Economical Variable Economically, Vodafone has been facing various challenges like intense competitions due to new entrants. New entrants in the mobile industry come up with various marketing strategies that deprive Vodafone some of its subscribers. They tend to offer subsidized charges on calls, SMS and internet connections among other services. Economic fluctuations have seen the company reduce its profit margin since 2008. The global financial crisis saw the company pay huge taxes among other expenditure (United Nations, 2009: 189). However, various national policies require controlled charges on the services offered by the company and this means that the operational cost increased while the revenue remained normal, and this reduces the profit margin (Lessambo, 2009: 217). However, the company still have billions and billions of subscribers to its advantage of first move or being among the first mobile network providers in this universe. Environmental variable With regard to environment, Vodafone is a very respected due to its initiatives of environmental conservation. For instance, Safaricom, a company owned by Vodafone has a great trademark to symbolize the company’s responsibility in environmental conservation (Holland, 2007: 30). The company is ISO certified and this means it complies with stipulated international environmental policies (Schmenner, 2004: 130). In return the company has won and is still attracting more customers due to this. Social variable In terms of social, the company has a good social responsibility scheme as a way of appreciating her customers. The company fund and supervise various projects meant to improve its customers’ lives. Such include water projects, educative projects and campaigns against deadly diseases like TB and HIV-Virus among others. Furthermore, Vodafone is known to promote the local talents of the natives in its areas of operations. The company is known to market the products of various artists like the musicians and actors among others (Slemrod, 2004: 37). The company provides the artists a platform to sell their products to the public by enabling the public subscribe to certain songs by respective musicians or short clips or videos by respective actors. The revenue from such music and video is awarded to the artists through their managers. Technological Variable Technology wise the company is highly ranked. Vodafone and its partners have the most sophisticated and efficient network boosters, in both urban and remote regions to meet its customers’ communication needs. Furthermore, the company picks the cream of technology graduates from reputable institutions to ensure creativity in the company. Vodafone is known for inventing new technologies to meet the current and future human needs (Leymer, 2002; 57). Such innovations include mobile money transfer technologies among others. Legal Variable Concerning its legal implications, the company has a good relation with its customers among other stakeholders due to its defined legal structure. It has a company legal team which represent it in case there are legal accusations. Being a company that deals with human demands, issues of legal cases are expected but the company through its legal managers ensures the cases are well sorted (Holland, 2007: 40). Telefonica’s Main Competitors in UK Among Telefonica competitors in UK include the Orange group which is also a leading wireless telephone services provider in Europe. The company provides mobile voice and data services together with fixed line services. It is also a major service provider and is a close competitor to Telefonica UK. This company became especially a major threat to Telefonica after its merger with T-mobile UK. Another major competitor is EE. This company led to decrease in the number Telefonica customer base when it introduced the 4G network before Telefonica group which came up with the 4G services last year. Differential advantage/ competitive edge Vodafone has various advantages over its competitors: Strong Sponsorship Vodafone has a strong sponsorship and this has enabled the company attract more customers among other stakeholders. The company has sponsored major international events like Sports which turns to be productive in several ways. It sponsorship comes due to good company profile and its relations with other businesses. Strong brand Vodafone’s services have been approved to meet international standards and so far, the company has never engaged in a serious criminal act that could have compromised its relationship with the public. This has made the company a role model not only to customers but also other related companies (Proctor 2000: 34). Secondly, majorities have strong trust to the company’s services and these include its good network boosters ensuring quality calls and instant short messaging. Being a Pioneer in the Mobile industry Vodafone was the first mobile network company to partner with companies manufacturing mobile communication gadgets. Vodafone purchases the mobile gadgets then sell them at subsidized prices to its customers (Leymer, 2002: 30). Furthermore, the customers have the belief that any product from Vodafone must be genuine and this is rewarding. Machine to Machine communication Vodafone has adopted the integrated remote monitoring and control service which enable the customers to remotely monitor and control their machine to machine enabled equipment with a single service provider. This integrated hardware consists of applications, hardware and a managed machine to machine connectivity service. Porter’s five forces Porter’s five forces could be used to describe the company’s strategic management. Porter’s five forces imply some basic business threats that must be well handled to ensure smooth operations. Vodafone handles the threat of new entrants by engaging in economical but effective marketing strategies to keep its customers updated on any new offers, products and services among others (Roy, 2011: 45). The company uses media platform like TVs, local and international newspapers and social media to commute its services. Furthermore, Vodafone ensure quality services to its customers and this is a great disadvantage to the new entrants as they tend to offer non quality services due to lack of adequate experiences in the mobile network industry. Vodafone is a famous brand name that is well known globally and this huge challenge to the new entrants (Cox, 2008: 45). Generally, the pressure is low. The threat of substitute services and goods are handled by collaborating with world class companies to offer the best to the customers, and likewise the pressure is low. Some research was conducted to ascertain whether the company accrued decrease in profit was a result of its increased competitors and the findings indicated that the new entrants or increased competition had very little impact on Vodafone’s revenue. However, the study concluded that economical fluctuations had a great impact on the company’s revenue. 7 P’s of marketing Product Vodafone provide both mobile network services and mobile products as well. Vodafone’s products and services are accepted in all parts of the universe as they are of good quality. The company is ISO-Certified. Vodafone internet services are appreciated by majority of users as it is reliable. Vodafone provides quality calls although there have been complains in extremely raised regions or in the valleys among other regions (Thomke, 2006; 43). The company need to upgrade its technology and consider such complains. Place Vodafone is an international company; it has several regional branches in various nations (both developing and developed nations). Vodafone has performed well in Africa and Asia and this encouraged it venture further into remote developing regions, unlike its competitors which focus on the cities and developed regions (Fredrick, 2011: 89). It is currently performing very well in India pushing away other competitors as illustrated in the following graph. Vodafone performance in relation to Her Competitors In India Prices Vodafone is thought to be the most expensive mobile network provider and this has seen it lose more of its customers to its competitors. For instance, the company’s charges on local and international calls is almost double that charged by Airtel, its biggest competitor in East Africa. Package The communication and internet services are offered in different packages depending on the behavioral characteristics and economical capabilities of the customers. The company offer advanced and more sophisticated quality services to subscribers in Europe than those in Africa. However, the company ensures their subscribers’ satisfaction despite the differentiating factors (Proctor 2000: 56). Promotions The company engages in various promotions, for instance, it offers free calls to subscribers who send or deposit more cash into their mobile transfer accounts. Furthermore, free SMS and calls are awarded to heavy users among other promotions (Roy, 2011: 340). However, the company can still do more promotions to increase its awareness People Vodafone is majority’s choice despite the stiff completion. The company provides quality services to its all subscribers in every corner of the continent. The attached financial analysis (appendix) indicates that Vodafone’s subscribers have been on a good increasing trend despite the company challenges. Positioning This entails how the company is perceived in the hearts or eyes of the subscribers. From the company’s financial reports, one can easily depict that the company has good relationship with its subscribers. There has been a continuous increase in subscribers since 2006, and this means the company is well thought of (Fredrick, 2011: 189). However, more can still be done to attract more customers, as 2013 financial records indicate a drop in the profit margin, which should not be tolerated further. Segmentation Segmentation is based on geographical, psychographic, gender, income and behavioral variables. There are several strategies that Vodafone can put in place to ensure that it caters for the needs of each market segment. Geographical variables Vodafone has it outlets in almost every corner of the world, both developing and developed nations to solve human’s communication problems. However, the needs of customers in different parts of the globe differ. The consumer needs are also affected by the unique features in different parts of the globe. It is the work of Vodafone to understand the needs of individual customers in different geographical location and customize their products to meet these specific needs. Still on segmentation the company could identify some locations currently despised by its competitors (Thomke, 2006; 78). For instance, majority of mobile network companies are found in the developed nations, with the idea that their returns depend on the regions’ economy and population characteristics among other factors. Vodafone is currently operating in developed nations in Africa and Asia, but in low scale. Vodafone should invest in the remote Africa and Asia among other continents and expand its market. The company should also study behavioral characteristics of its subscribers and invest of such behaviors (Roy, 2011: 321). For example, regions where the majorities are the youths should have quality or high speed network services to suit their needs. Behavioral and psychographic variables Different market segments behave in different ways depending on their age, income and other variables. For instance, the communication needs for teenagers and youths are different from those of older people. People in the formal and informal businesses also behave differently. Vodafone should come up with products that meet the needs of these different groups. The company should put more emphasis on the youths or teenagers as they are the heavy users of communication services. It could provide offers on sms and internet used in the social media suit the teenagers who are ever chatting. The company should focus on the less targeted by its competitors, for instance, Vodafone could focus on the old adults who‘s financial abilities are compromised. The company could identify the old adults among other subscribers then offer them some offers like subsidized rates on calls among others (Roy, 2011: 38). Vodafone through its partners invent various technologies to target the teenagers who are ever logged in to their online accounts. Income and Gender variables The company should provide products that cater for the needs of people of all types of incomes from the low income earners to the people with a higher earning profile. This is because, if the company only provided products and services for the higher earners, then the medium and low income earners would move to other competitor and the company would have reduced its consumer base. Gender also influences the type of product people use. The females have been observed to use texts and phone calls more than their male counterparts. Vodafone could use this information to ensure that the needs of all clients are taken care of. Targeting Vodafone could increase its current market share by targeting the right market. After defining the market segments, the company can then target the segments that offer the best prospects by offering then tariffs and different propositions that are customized to meet the specific needs and preferences of groups of customers. The company can use a combination of targeting methods in order to maximize its reach. The methods that can be applied in targeting include differentiated strategy, undifferentiated strategy and concentrated strategy. Undifferentiated strategy This involves sending the same promotional message to all customers. The aim of this method is to ensure that the customers are aware of the products and services that the company provides. These messages can be sent through popular media such as the newspapers and news TV and radio channels (Thomke, 2006: 69). It helps in establishing the brand. Differentiated strategy This strategy is used to reach specific market segments by catering for the individual needs of these clients. The company design different promotional messages that are aimed at reaching different market segments. For instance, the promotional message intended for the youth is designed in a way that appeal to this age group and is passed in media such as social media that are frequented by the youth provided (Brown, 2010: 39). If the message targets older people, it is designed in such a way that it appeals to this age group. Concentrated Strategy This strategy only targets a specific market segment which is observed to be the most prospective ignoring all the other segments. Different promotional strategies are used but all are geared towards wooing a single market segment with similar demographic characteristics. The company places the promotional ads in media that are mainly accessed by this market group. Using a blend of the mentioned strategy would ensure that that Vodafone is able to utilize its market potential to the fullest. Positioning Vodafone is currently has operations in almost every part of the globe. The company has managed to effectively penetrate the European market which is currently at its maturity stage leaving less potential for growth. In order to expand its operation, Vodafone should invest more in the emerging markets which provides greater potential for growth as their economy grows. Investing in developing countries would also be a good strategy as the company will create infrastructure before her competitors start investing in this areas giving it a competitive edge (Cox, 2008: 91). Following the trend shown by the graph below, Vodafone dividend per share will continue to grow in the coming years. Graph Showing Vodafone Share performance Marketing objectives and goals Vodafone intends to expand its operations in Europe through acquisition after it sold its stake in North America to Verizon. The company has plans of making more acquisition in Europe. Since the company is not greatly indebted, it is likely to grow with these acquisitions. The company currently gives its shareholders huge dividends reducing its capital for investment. However, as the company expands, it is likely to give huge earnings on investment both in medium and the long-term (Noe, 2009, 89). It is thus a promising place to invest in as it will give huge returns on investment in the long-term. After the implementation of the new marketing strategies, Vodafone should make a turnover exceeding 67 million Euros and gross profit exceeding 4000 million Euros in the next five years. Its net profit should be anything above 7500 million Euros and generally, the company should embrace its trend of accrued increase in turnover and profit, as it was between 2006 and 2012 (Noe, 2009: 450). Marketing strategies and programs Boston Matrix The Boston marketing strategy shows Vodafone standing in terms of market growth and shares (Fredrick, 2011: 190). The stars are the Vodafone main product which is the monthly contract that they offer to their customers. The cash cow is products that give the most revenue but has reached its maximum point in terms of growth. The cash cow for Vodafone is the messaging service which is lucrative but can no longer be expanded. The dogs are the analogue services that are no longer profitable as a result of competition from other service providers. The question mark is the product that has the highest potential for growth but currently has the lowest market share. In Vodafone, this would be the 3G and 4Ginternet services. Ansoff’s Matrix The ansoff matrix looks at a company attempt to grow in terms of new or existing markets and new or existing products. In terms of new markets, Vodafone can expand its operation into countries that are now embracing technology and invest in establishing distribution infrastructures before her rivals penetrate these new markets. In terms of existing markets, Vodafone can increase it turnovers by differential pricing to create different market segments e.g. coming up with different forms of subsidized messaging and calling for different groups of people (Cox, 2008: 78). Vodafone newest product is the 3G internet services. It can diversify this product to other services that differ in terms of strength of connectivity and price to cater for the needs of different users. This is because different people have different internet needs (Noe, 2009: 67). The company would have to carry out intense research to understand the needs of different market segments targeted by this product. The company could consider concentrated, undifferentiated and differentiated marketing strategies to maintain and attract more customers. Differentiated strategies could apply where the company has identified specific characteristics of certain customers. For example, Vodafone should invest more on the mobile transfer services in Africa and Asia where majority are small business owners and they lack adequate resource to enjoy local banking services. Furthermore, Vodafone should venture more into internet services in Developed nations since at least each household has a laptop, tablet and Smartphone that require internet connections. Unidentified strategy applies with customers whose characteristics are not certain. Here the company could provide all the possible services in equal magnitude as the company conduct studies to ascertain the customers’ traits, so that identified strategy could take course (Noe, 2009: 54). Concentrated strategy could apply in densely populated regions like China and Nigeria where other company’s competitors target. Here Vodafone should apply its possible marketing strategies to see it register more customers and retain the previous ones. Vodafone engages in comprehensive marketing to retain and attract more subscribers. It engages media platform like TVs and radio broadcasting channels, news papers, magazines and social media among others. The company also leas with various local and international advertising agencies to use celebrities like athletes, musicians and actors among others communicate important Vodafone’s information to the customers among other stakeholders (Morr, 2009: 76). Vodafone also sends relevant short messages or emails to its customers informing them of new offers, products and even services. Graph below was attained from a study conducted by Vodafone on the effects of increased products or competitors and the findings were that the prices or charges on Vodafone’s products and charges fall as more competitors embrace the business (Champoux, 2008: 132). The research was conducted on random developed and developing nations and the results were uniform. The reduced prices or charges on Vodafone’s products and services were strategies to attract new customers and maintain them. These have contributed to the accrued reduction on the company’s profit as major cause is thought to be economical fluctuations (Feldstein, 2007: 76). Figure 1 : Graph of prices against quantity of products or services available in the mobile industry market Recommendations The company should engage economical and effective marketing strategies to attract more customers and retain them. The company should engage in corporative social responsibility schemes to show their concern to the community and in turn attract them. The company should also seek long term business loans from world class financial institutions to strengthen its capital and offer its services at subsidized rates. This would disadvantage its competitors or new entrants who cannot be granted such loans (Vaught, 2004: 654). Vodafone should also lower its internet charges to attract more youths or teenagers who cannot do without chatting, doing online shopping, attending online classes and downloading or watching movies via the internet. The company should then use the online platform to communicate important or relevant information to keep its customers updated on new products and services among others. Vodafone could also train its workers or sponsor them in the universities other than employing highly demanding technology graduates (Noe, 2009: 29). This could reduce on its operational costs. Finally, Vodafone should engage in animation adverts inform of interesting cartoons other than the expensive celebrities. Conclusion Vodafone is a world class multibillion international companies with headquarter in London. The company has been experiencing accrued decrease in profit due to the market fluctuation and increased completion, both as a mobile production and mobile network provider. The company market analysis using PESTEL and SWOT indicate the company is on a good track despite the few limitations like threats of the new entrants among other factors. The company’s marketing strategy is at per although the company is thought to make more revenue if it upgrades its current marketing programs. Vodafone plays great roles to its customers in both developing and developed nations that it should expand even more Reference List Brown, E. 2010. Company facts. New York:Prentice-Hill Champoux, J. (2008). Organizational Behavior: Integrating Individuals, Groups, and Organizations. New York: Taylor & Francis. Cox, T.(2008). Cultural Diversity in Organizations. New York: Barette-Koehler publishers. Feldstein, M. (2007). The Effects of Taxations on Multinational cooperations. Chicago: University of Chicago. Harrisson, R. (2009). Learning and Development (5th ed.). New York: CIPD Publishing. Henry, A.(2008). Understanding Strategic Management. New York: Routledge. Holland, J. 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New York: Routledge Appendix, 1 Year ended 31 March Turnover £m Profit before tax £m Profit for the year £m Basic eps (pence) Proportionate customers (m) 2013 44,445 3,255 673 0.87 404.0 2012 46,417 9,549 7,003 13.74 446.5 2011 45,884 9,498 7,870 15.20 347.7 2010 44,472 8,674 8,618 16.44 341.1 2009 41,017 4,189 3,080 5.81 302.6 2008 35,478 9,001 6,756 12.56 260 2007 31,104 (2,383) (5,297) (8.94) 206.4 2006* 29,350 (14,835) (21,821) (35.01) 170.6 2005 34,073 7,951 6,518 9.68 154.8 2004 36,492 9,013 6,112 8.70 133.4 Year ended 31 March Turnover £m Profit before tax £m Profit for the year £m Basic eps (pence) Proportionate customers (m) 2013 44,445 3,255 673 0.87 404.0 2012 46,417 9,549 7,003 13.74 446.5 2011 45,884 9,498 7,870 15.20 347.7 2010 44,472 8,674 8,618 16.44 341.1 2009 41,017 4,189 3,080 5.81 302.6 2008 35,478 9,001 6,756 12.56 260 2007 31,104 (2,383) (5,297) (8.94) 206.4 2006* 29,350 (14,835) (21,821) (35.01) 170.6 2005 34,073 7,951 6,518 9.68 154.8 2004 36,492 9,013 6,112 8.70 133.4 Read More