Identification of Best Marketing Strategies Used by Vodafone to Change Trends in Telecom Sector - Research Paper Example

Research Skills and Project Management Table of Contents 3 0.Research Aims and Objectives 3 2.0.Significance and Rationale of the Proposed Research Study 4 3.0. Literature Review 5 3.1. Marketing as a Core Business Function 6 3.2. Role and Importance of Marketing in Business 7 3.3. Marketing in the Telecom Sector: Importance and Role 8 3.4. Characteristics of Best Marketing Strategies 12 4.0. Research Methodology 15 4.1. Research Approaches 15 4.2. Research Design 16 4.3. Data Collection Methods 17 4.4. Data Analysis 18 4.5. Reliability & Validity 19 4.6. Ethical Consideration 19 5.0. Timescale and Resource Plan for Project 20 6.0. References 22 Title “Identification of best Marketing strategies used by Vodafone to change trends in Telecom sector of Qatar” 1.0. Research Aims and Objectives In accordance with the title of the proposed research study, it is apparent that this study will intend to identify a few of the best marketing practices implemented or executed by Vodafone to enhance its market share and change the trends in the telecom sector of Qatar. Contextually, the aim of the research will be as follows: “Analysing the marketing strategies adopted by Vodafone while operating in Qatar and how the same has enhanced its performance and has eventually changed the trends in the telecom sector of Qatar”. The research question will be: What are the best Marketing strategies used by Vodafone to change trends in telecom sector of Qatar? In order to attain the predetermined aims and objectives of the proposed research, certain specific and simplified objectives will need to be framed. Contextually, the objectives for this proposed research will include the following: To evaluate the importance of marketing as a core business function To evaluate the importance of marketing in the telecom sector of the world To analyse the marketing strategies of Vodafone while operating in Qatar To identify and illustrate the best marketing strategies adopted by Vodafone for its operations in Qatar To determine how strategies of Vodafone ensured success for the company and how it transformed the telecom sector of Qatar The attainment of these objectives in the course of conducting the research study will further result in determining the primary aim of the proposed study. 2.0. Significance and Rationale of the Proposed Research Study Notably, marketing is one of the most common concepts, which is being adopted by companies towards assuring their smooth operations. Unlimited number of studies has been conducted towards determining the concept along with gaining a thorough understanding about the importance of marketing in the contemporary business environment. Therefore, conducting research on this particular subject area might not be a beneficial prospect altogether. However, it would be worth mentioning in this context that this proposed research will seek to identify the importance of the marketing in shaping the performance of companies especially in the domain of telecom sector with the help of the example of Vodafone and its adopted strategies for the Qatarian market. Since very limited research has been conducted in this regard, this proposed study will bring into notice certain new revelations with regard to the subject matter. Again, the proposed research study will also include the aspect of analysing the preferences and buying behaviours of the customers in the Qatarian market, the result of which will further benefit the companies in numerous sectors to enhance their business decision making while operating in this part of the world. This can also be presented as one of the rationales for having a research study in this particular topic. 3.0. Literature Review In the contemporary world, the ways of conducting business have transformed rapidly where profit maximisation is not the only objective of the business units, rather there involves various other aims that business units seek to attain. Moreover, it will also be vital to mention that owing to the rapid business transformation and the emergence of the new players in the scene in numerous sectors, the aspect of competition has also augmented to a considerable extent (Bournemouth University, n.d.). Hence, it is important that companies evolve with innovative and sustainable ideas so that they could be able to operate and survive in the long run. Contextually, the role of effective strategic decision making in various domains of business comes into being. Effective strategies provide the desired direction to any business unit and ensure its long-term sustainability. It will be worth mentioning that effective strategies are substantial in all the major functions of the business including marketing, human resources, operations and finance among others. Enhancing the overall performance of the company is a collective effort and upon which the effectiveness of the aforementioned domains of the business largely revolves. Among the various functions that are prevalent in modern day business operations, the role of marketing as a function in quite vital in any business sector as it is directly relevant to attracting as well as engaging the customers (The Chartered institute of Marketing, n.d.). This can be better comprehended from the explanation provided subsequently. 3.1. Marketing as a Core Business Function Notably, from the above overview, it is quite apparent that there exist several functions in any business, which collectively ensures the success for the company by attaining the goals of the business in their respective domains. Contextually, the concept of marketing as a core function in any form of business will be critical to discuss for this planned research study. As per the study of Burnett (2008) marketing is one of the most essential processes to attain success in any sort of business irrespective of the size, structure as well as nature of operations of the business. The study depicts that marketing is a particular process that involves researching, packaging as well as presenting the products for the potential or the final customers. It is perhaps considered to be the most important part of the modern day business activities. Furthermore, as per the study of Lahti University of Applied Sciences (2012), marketing is a particular process of management through which information relevant to the products and services are conveyed to the target customers in a systematic manner. It can also be described as the approach of the companies where they combine several activities together which include identifying, anticipating as well as satisfying the demands and preferences of the customers to attain the goals, objectives and the desired profitability for the business. In this similar regard, the report of Kansas State University (n.d.) describe marketing as a function of the companies where they seek to evaluate the potential products of the company and promote the same in front of the potential customers in the respective market it operates in. These viewpoints of various authors further depict that marketing is one of the core business functions that directly associates and impacts the performance of the overall business. A few of the basic roles of business in the contemporary business environment include determining the needs of the customers, building the demands for the products or/and services amid the potential buyers and developing better product delivery system that enhances as well as eases the access of the customers towards acquiring the products. The role and the importance of marketing in business are discussed in details subsequently. 3.2. Role and Importance of Marketing in Business Marketing is used as a tool for communication in the modern day business. As per the viewpoints of Jain (2010) it can be stated that the heart of the success of any form of business associates with its marketing domain. A few of the major tools of marketing which include advertising, public relations and promotions are used to enhance the overall performance of the business. Notably, the study affirms that the technique of marketing is used towards presenting the products for the potential customers. It is evident that in order to enhance the performance of the business, companies will need to improve the access of the products and services to the customers. In this regard, the role of marketing comes into existence. The importance of marketing in the present day business can also be comprehended from the fact that it directly influences the sales of a company towards a positively inclined direction. According to the study of Ferrell & Hartline (2012), once the products or services are presented in front of the targeted customers with the help of the marketing tools, the chances or the probability that customers will buy the same augments rapidly which further influences the sales of the company positively. Again, increase in sales along with widespread marketing also work towards attracting the interest of the new customers which can be determined to leverage potential benefits of marketing and show its importance for companies. Observably, in the present day scenario, the reputation as well as the image of the company is also a significant aspect that influences the performance of any form of business. In management terms, this particular need of the company is known as brand image. The study of Mokwa & et. al. (1980) presented the relationship amid good marketing approach and brand image of a company. It is widely believed that companies that are able to emerge with effective and innovative marketing campaigns are able to develop a better image amid the customers further benefitting the business as with the growing brand image of the business companies are able to expand their business operations which further enables to build the image of any company as a major player. This particular aspect also depicts the prominent role of the marketing in steering the overall performance of any business. Lamb & et. al. (2007) believes that marketing also has a major role in enhancing the competitive position of any form of business irrespective of the industry sector it is operating in. Since companies are able to promote themselves as well as their products and services, in the process they develop a healthy competition with their rivals. The study affirmed that marketing can also be used as a tool to enhance the competitiveness of the business through an effective association with the targeted customers. Hence, the role as well as the importance of the aspect of marketing in contemporary environment is certainly apparent. 3.3. Marketing in the Telecom Sector: Importance and Role The role and the importance might be prominent in every business sector, but the magnitude of the same also differs from business to business. Contextually, in the telecommunication sector of the world, the aspect of marketing has its own importance. According to the study of Lovelock (2008) marketing is one of the core functions for the companies operating in the telecom sector. It is a particular tool that reflects the demands of the customers through systemic research approach. Lovelock (2008) believes that the concept of marketing in the telecommunication sector intends to acquire the information from the market and identify or forecast the future trends of customer preferences and demands to be able to satisfy the needs and demands of the same. A few of the basic marketing activities that are most prevalent in the telecom sector include segmenting the market, analysing the psychology of the customers and developing proper branding strategies among others. These aspects directly relate to the facet of evaluating the decision making, purchasing patterns and judgment criteria of the customers while buying the products. In this similar regard, the report of INFLIBNET Centre (2010) asserted the prevalence of marketing strategy within the telecom sector of the world. Notably, companies operating in this particular industry sector select as well as analyse the target markets further incorporating marketing mix approach to cope up with the nature of the market. Contextually, a few of the most widely known marketing strategies in the telecom sector include low cost strategy, differentiation strategy and focus strategy among others. As per the research of Raju (1988) it has been analysed that the telecommunication sector is one of the most competitive segments of the world and companies in this particular sector intend to surpass the performance of the rivals and win the race in the market. Correspondingly, the role of effective marketing is deemed to be quite vital. The aspect of effective and appropriate pricing planning along with innovation in the marketing strategies is quite important in this particular sector. The main intention of the players in this particular sector is to attract the customers towards the features of the product including the services (which are of prominent importance in the telecom sector) along with ascertaining their trust towards the same. The companies in this particular sector have the need to emerge with flexible strategies that can be altered in accordance with the changing structure of the market and the demands and preferences of the customers. The study of Lovelock & et. al (2010) presented some of the most common marketing strategies that are usually adopted by companies in the telecom sector of the world. Notably as per the research of Lovelock & et. al (2010) one of the foremost marketing approaches in the telecom sector is to provide quality services to the customers at attractive or aggressive prices. Moreover, companies in this particular sector also have the need to enter into the dominant areas of the competitors and seek to make a mark of their own as all the companies deal with similar kind of products and services. Furthermore, through the marketing activities in the telecom sector, companies have the need to emerge with attractive offers for the customers to entice and divert their loyalty from the present users towards the company. This aspect provides competitive edge for the companies in the telecom sector. Notably, in the telecom sector of the world, the competition amid the companies is quite large as the companies operate with similar sort of products and services. Therefore, they emerge with the approach of price war in their marketing approach where they depend on effective or aggressive or attractive pricing to get competitive edge over the rivals. It will be vital to mention that in the telecom sector limiting the price of the products or/and services to the minimum level is important to attract the customers and ensure their loyalty for the business units. It has also been noted that effective communication as a strong marketing tool is very much substantial in the telecom sector in comparison with the other sectors of the world. This is because of the fact that in the telecom sector, it is mandatory to work in accordance with the demands and needs of the customers to attain sustainability in the business. Contextually, the role of proper market research within the marketing activities of the telecom sector becomes much more vital. It has also been analysed that product and service development has also become one of the most vital parts of the marketing activities of the telecom sector of the world. It is known that the scope for diversification of the products is minimal in the telecom as there is only little variation in products and services that can be provided to the customers in this particular sector. Hence, companies have the need to ensure continuous development in its present products so that maximum value can be provided to the customers within the present range of products. In the telecom sector, companies have the need to defend their products or/and services when it is presented to the customers. Subsequently, companies in this particular sector have to reinforce their brand image and reputation on a continuous basis. Contextually, satisfying the customers to the highest possible extent becomes vitally important in the telecom sector (Nielsen, n.d.). This aspect enhances the brand image of the companies in the sector. Furthermore, it has also been studied that in the telecom sector that companies need to emphasise more on satisfying the present customer base rather than seeking for new customers. This is because of the aspect that in this particular sector companies only gain sustainability for a longer period when it is able to identify as well as attract the highly valuable and loyal customers. Once, companies satisfy this group of customers, they can enhance their subscriber base, further increasing the overall scale of operations of the business along with its overall sales. This might also mitigate the risk of losing out the potential customers to the competitors (Nielsen, n.d.). In this context, it can be ascertained that companies will need to develop clarity in their decision making with ensuring utmost creativity in the same. 3.4. Characteristics of Best Marketing Strategies From the above analysis, it is quite apparent that marketing is indeed of the most prominent part in the contemporary business world. It is also an important part of the operations of the companies functioning in the telecom sector. However, among the many marketing strategies that companies adopt to promote their products to the customers, there are certain standout strategies that are more effective and become the best practices. This aspect can also be witnessed with the marketing strategies of companies within the telecom sector. It can be said that a best marketing strategies might be the one that is developed through systematic process. This means that in the formation of an effective marketing strategy companies need to analyse the market for which the strategies are to be developed. This aspect depicts that companies will need to conduct proper and systematic market research which include analysis of the market needs, evaluation of the trends of the market and illustration of the growth of the market over the years among others. The marketing strategies of the companies are further framed in alignment of the strengths and weaknesses of the business and characteristics of the market it is operating in (Scribd, n.d.). In order to have a better understanding in this context the research study of the duo of Wang & Kishore (2009) for the respective markets of Chinese and Indian telecom industry will be vital to consider. According to the study, the telecommunication markets of both China and India are among the biggest of the world owing to the immense population and the increasing number cell phone users in both the nation. Notably, the study affirms that the telecom market of India has been one of the most competitive of the world owing to the large number of players operating in the same. In this market, companies adopt diverse range of strategies in order to sustain in this particular market. According to Wang & Kishore (2009), companies operating in this particular market mainly intend to emerge with updated or revised versions of the present products so that they could be able to encourage the customers to associate with the provider for a longer period of time. This has been quite an effective strategy over the years and has been regarded as one of the best approaches for the companies in this particular market. Besides, the study also affirmed that while operating in the Indian telecom market companies also intend to sell more to the existing customers rather than focusing more on the new potential customers. Subsequently, it can be said that the present customers of the company are quite vital as their approach of association or switching away to other company influences the operations of the business to quite a larger extent. Hence, companies knew the importance of having effective strategies to hold its loyal customers in the Indian telecom market. The study of Wang & Kishore (2009) also depicts that players in the Indian also develop marketing strategies where they present their existing products in new markets and promote them on the basis of their past performances in other regions within the nations. These aspects can be considered to be among the best strategies that companies adopt while operating in the Indian telecom market. On the other hand, the players in China adopt strategies on the basis of the market situation of the telecom industry of China. Notably, Wang & Kishore (2009) depicted that in the Chinese market, the telecom players seek for strategies such as increasing the sales through expansion of the business across various regions within the nations, targeting as well as capturing the niche markets, enhancing the growth of the market share and developing along with reinforcing the brand image of the business on a continuous basis. These aspects can be considered to be the best strategies companies adopt while operating in the Telecom market of China. Hence, it is quite apparent that the characteristics of the best marketing strategies of the business units in the telecom sector tend to differ based on the demands and preferences of the customers in the region companies operate in (Wang & Kishore, 2009). The above mentioned aspect can also be comprehended from the research study of Ayanda & Tunbosun (2012) that depicts the best strategies for ensuring effective performance in the Nigerian telecommunication industry. The research study of the duo mainly discussed the marketing strategies of the companies operating in the telecommunication sector of the nation. Notably, a few of the major players of the telecommunication sector of Nigeria including MTN, GLO and AIRTEL have spent considerable amount of money and time in enhancing their marketing strategies to sustain within the competitive environment. Notably, one of the most common features of the marketing strategies of these companies include promoting their products and services, further targeting the rural and the underdeveloped areas where the population is large in number as compared to the other regions of the country. The companies in this particular sector also put more focus on studying the nature of the market rather than analysing the behaviour of the customers as they believed that the market conditions itself show the buying nature and pattern of the customers. The companies segmented the telecommunication market of Nigeria on the basis of the personal characteristics of the targeted customers, the geographical location they belong and the lifestyle of the people among others. Hence, it is apparent that the marketing strategies and the characteristics of the best marketing strategies differ from region to region. Contextually, this proposed research study intends to evaluate the best strategies adopted by Vodafone while operating in the Qatarian market which has further provided them with utmost success. Notably, Vodafone operates in various nations of the world and has different sets of marketing strategies for each of the regions. Hence, studying its strategies for the Qatarian market will further depict the customer behaviour of the market and the trends of the market which Vodafone changed from its marketing approaches. This information will be valuable for conducting in-depth research relevant to this particular subject area in the future context. 4.0. Research Methodology 4.1. Research Approaches Research approaches primarily include the process that describes steps involved in the accumulation of data that are directly or indirectly relevant to the subject matter. Notably, researches can be of several types including qualitative, quantitative, experimental, inductive as well as deductive. Notably, in this proposed research study, an inductive quantitative approach will be adopted while seeking for relevant data that focuses on identifying “the best marketing strategies that were adopted by Vodafone while operating in the Qatarian market”. Likewise, the proposed research will intend to emphasize conducting observations in a bottom up approach, where the acquired data will be evaluated from a narrow base to broader context through the use of data acquired from literature review and primary sources (Luton, 2010). Furthermore, it will also be crucial to state that the acquired data will further be studied with the assistance of a quantitative research approach. The quantitative approach can further be defined as a particular methodological approach which can further be defined as a methodical investigation of the acquired data facts with regard to the subject on the basis of mathematical and statistical tool depending on the issues of the chosen topic (Kumar, 2010). It will be vital to comprehend that a few of the most important objectives of quantitative research is to develop and utilise various mathematical models by creating hypotheses. 4.2. Research Design Notably, as per the above depiction, this proposed study will emphasise determining an appropriate answer for the research with the assistance of a quantitative study approach. However, it is believed that in such form of study there are a lot of challenges which further enhance the complexities of the research study further demanding high expertise from the end of the researcher (Bergh & Ketchen, Jr, 2009). In order to deal with such complexities, this proposed study will be conducted on a systematic manner with the help of the following design or structure. 1. Identifying the aims objectives prior to completing the research 2. Determining the research question that will be answered from the results attained for the research aims and objectives 3. Establishing the hypothesis for conducting the research 4. Identifying the approach that will be used for conducting the research 5. Establishing a comprehensive understanding about the background of the subject matter of the research 6. Conducting reviews of relevant literatures through studying journals and articles in order to get a theoretical understanding of the subject matter 7. Collecting data from the primary sources through structured questionnaire interview 8. Analysis as well as evaluation of the data acquired from primary and secondary sources 9. Conducting tests for determining the accuracy and reliability of the data acquired for the research 10. Attaining appropriate responses for the research question and objective 4.3. Data Collection Methods There are various methods of collecting data for any particular research. Generally, the required amount of information for any research study is accumulated either from the primary sources or the secondary sources or from both depending on the type of research study. Notably, primary sources refer to the process followed by researcher where he/she collects data through ‘structured’, ‘semi-structured’ or ‘unstructured’ method with the assistance of interviews to obtain information in the presence of a predetermined questionnaire. Conversely, data collection from secondary sources is a process followed by the researcher where data is collected from secondary sources that usually comprise books, newspapers, journals and online articles among others. It will be crucial to mention that while collecting data from the secondary sources, the aspect of reliability and validity will be taken into consideration (Bergh & Ketchen, Jr, 2009). This proposed research will focus on gathering data relevant to the subject matter from both the primary and the secondary sources. In the process of collecting data from the primary sources for the proposed research study, survey will be conducted with 100 respondents who will also be the sample size for the proposed research. The 100 respondents will be the retailers of telecom products in Qatar. These respondents i.e. retailer of telecom products will be selected randomly. The survey will be mainly focused towards determining the viewpoints of the targets about the best marketing strategies Vodafone has adopted to become successful in the Qatarian market. The survey will be conducted on the basis of a set questionnaire that will mainly include closed ended question. The survey will be face-to-face one that is expected to be completed within 15 to 20 minutes. Besides, data will also be collected for the proposed research study from the secondary sources through the analysis of literature, journals and news articles among others. 4.4. Data Analysis The acquired data for the research will be illustrated and analysed following a quantitative approach. As mentioned, the data for the study will be accumulated through questionnaire survey method to attain a complete understanding the best methods of marketing adopted by Vodafone in Qatar. The data that will be collected in the process of conducting the research will further be analysed with the assistance of statistical tools, regression analysis as well as graphs and charts among others. The proposed research will also utilise the approach of hypothesis testing to get a more comprehensive and accurate understanding of the research question. This aspect is also expected to enhance the validity and accuracy of the research results. 4.5. Reliability & Validity The collected data relevant to the subject matter of the research i.e. best marketing strategies used by Vodafone in the Qatarian market will be taken into consideration for the proposed study only after confirming its reliability as well as validity. It will be crucial to comprehend those only reliable and valid journals; literatures as well as articles will be considered eligible to be used in the research. Moreover, while collecting the data from primary sources through interview, validity and accuracy will also be among the major criteria that will be adhered. 4.6. Ethical Consideration Ethics is one of the most vital components to be considered while executing any research study successfully. For this proposed research study, a few of the basic ethical elements that will be taken into consideration include the aspect of safety of the respondents, confidentiality of the data acquired and confidentiality of the identity of the respondents among others. Hence, the information will be acquired through free consent of the target respondents which will ensure more reliability. Again, the proposed research study will also manage as well as dispose the acquired data properly so that the respondents shall not face any legal obligations in the future context. 5.0. Timescale and Resource Plan for Project The plan above depicts the schedule to be adhered for completing the proposed research study. Notably, it is expected that the study will take around 11 months to execute it in a systematic manner which is again important to attain consistency in the results to be obtained. The first task as per the timescale is to prepare the outline for the research study which will further be followed by initiation as well as completion of the review of literature. The next task will include determining the methodology to be adopted for the research study. Subsequently, the questionnaire will be framed along with the completion of the survey with the target respondents. Furthermore, in the next stage, analysis of the findings from both the primary and the secondary sources will be completed. Subsequently, the overall study will be concluded with thorough error or grammatical check prior to its submission. There are certain resources that will be required for the completion of the research. The resources can be in the form of proper computer system, stationery including pen, paper and geometrical kit, proper conveyance for travelling and internet connection among others. Notably, prior to the initiation of the research study, these resources will be acquired and organised properly so that they could be utilised effectively in time of need. 6.0. References Ayanda, A. M. & Tunbosun, L. A., 2012. Exploring Marketing Strategy as a Catalyst for Performance in Nigerian Telecommunication Industry. JMBS Vol. 2, No. 4, pp. 65-71. Bournemouth University, No Date. Contemporary Business Issues. Uploads. [Online] Available at: http://business.bournemouth.ac.uk/postgraduate/PG%20Units/CONTEMPORARY_BUSINESS_ISSUES.pdf [Accessed June 20, 2014]. Burnett, J., 2008. Core Concepts of Marketing. Saylor, pp. 1-298. Ferrell, O. C. & Hartline, M., 2012. Marketing Strategy. Cengage Learning. INFLIBNET Centre, 2010. An Overview of Telecom Sector. Home. [Online] Available at: http://shodhganga.inflibnet.ac.in/bitstream/10603/3869/9/09_chapter%201.pdf [Accessed June 20, 2014]. Jain, A., 2010. Principles of Marketing. FK Publications. Kansas State University, No Date. Marketing Concepts. Home. [Online] Available at: http://www.agecon.ksu.edu/accc/kcdc/PDF%20Files/marketing.pdf [Accessed June 20, 2014]. Lahti University of Applied Sciences, 2012. Marketing Concepts In Practice. Uploads. [Online] Available at: http://publications.theseus.fi/bitstream/handle/10024/51157/Gronholm_Taru.pdf?sequence=1 [Accessed June 20, 2014]. Lovelock, C., 2008. Services Marketing People, Technology, Strategy. Pearson Education India. Lovelock, C. & et. al., 2010. Services Marketing, 6/E. Pearson Education India. Lamb, C. & et. al., 2007. Marketing. Cengage Learning. Mokwa, M. P. & et. al., 1980. Marketing the Arts. ABC-CLIO. Nielsen, No Date. Telecom Industry. Documents. [Online] Available at: http://es.nielsen.com/solutions/documents/NielsenSolutionsfortheTelecomIndustry.pdf [Accessed June 20, 2014]. Raju, M. S., 1988. Marketing Management. Tata McGraw-Hill Education. Scribd, No Date. Telecommunications Company Marketing Plan. Home. [Online] Available at: http://www.scribd.com/doc/4869829/Telecommunications-company-marketing-plan [Accessed June 20, 2014]. The Chartered institute of Marketing, No Date. What is Marketing? Home. [Online] Available at: http://www.cim.co.uk/files/7ps.pdf [Accessed June 20, 2014]. Wang, C. & Kishore, A., 2009. Comparative Research On The Marketing Strategies Of Telecommunication Industry In China And India. Wuhan University of Technology, pp. 1-11. Read More