Marketing Plan for T-Mobile - Assignment Example

Marketing Plan for T-Mobile T-Mobile International AG is a German company dealing in wireless network operations. The organization has operations in more than three continents, with its subsidiaries operating LTE, UMTS and GSM based networks for cell phones in the United States, Europe, the Virgin Islands and Puerto Rico. The company boasts of subscriptions of more than 230 million users, with projections indicating an increase in these figures to 250 million users this year. T-Mobile brand has a presence in more than 50 nations all over the world, making T-Mobile International the 15th largest in the world when it comes to provision of mobile services. It is the fourth-largest wireless mobile operator within the United States. The organization is the best global provider of wireless customer service; a rank cited by a marketing information services company in the US. T-Mobile is the best enterprise in the world in retail store satisfaction among all of the world’s major wireless service providers. It has held that position for four consecutive years. With this amount of growth, T-Mobile needs a well-designed and articulate marketing plan that facilitates a consistent interaction between its services and consumers. This need for an out and out marketing plan is reactionary to the increased number of customers subscribed to the company and their needs (Stokes, 121). The organization needs to work towards improving the efficiency of its network and the details given to customers as they receive their bills. The company faces this need amidst growing competition from other mobile service providers. These changes are necessary to ensure that T-Mobile retains its customers. In addition to that, the organization needs a good marketing plan to attract new subscribers to its services (Stokes, 122). The firm will need a vigorous marketing campaign that will ensure that the T-Mobile brand spreads to areas it has not covered before. This campaign will help the organization to rise in terms of its ranking among the world’s largest providers of mobile services. This paper looks into the marketing strategy that T-Mobile ought to adopt in its quest to become the biggest provider of mobile services in the world. The strategy provided here will ensure the organization improves the efficiency in its network and improves its operational details the moment customers receive bills. This plan covers four areas namely the Strategic Analysis, Market Objectives, the Generation of Tactics and strategies for achieving the set objectives, and the Evaluation of these strategies. Strategic Analysis T-Mobile has a long way to go towards becoming the world’s largest provider of mobile services. The company faces stiff competition from other organizations such as Airtel, Vodafone and Telefonica, which all enjoy more subscribers than T-Mobile. As indicated above, the organization needs to improve the efficiency of its network besides improving the quality of the details issued to consumers during billing. A strategic analysis through Porter’s Five Forces method of analysis will help bring out the market in which T-Mobile operates. Rivalry and Competitors T-Mobile faces intense competition from other mobile service operators in the global market. Airtel, Telefonica and Vodafone all boast more numbers in terms of subscriptions. It is imperative to note that more subscriptions indicate either a better marketing strategy in use or better quality products. T-Mobile needs to make sure that the service it offers to its customers far surpasses the services they get from its competitors. The organization needs to provide better quality network at competitive prices than all its competitors (Coen, 41). This is achievable through investment in better technology, which responds to the changing needs of the consumer. It is impossible to consider changing technology used in service provision without considering the infrastructure required to support it. For instance, T-Mobile will need to acquire 4G network that will offer their customer faster internet speeds. The organization should invest in more powerful network boosters aside from seeking partnerships with internet browser companies such as Google Chrome and Mozilla to enhance the browsing experience. Bargaining Power (Suppliers) T-Mobile needs to have reliable suppliers to supply the organization with materials used to develop its operational infrastructure and technology (Stokes, 130). The organization needs to work with suppliers who provide high quality products at all times. In addition to that, the organization needs to ensure that it receives these supplies in good time. Time is an important factor in technological advancement. T-Mobile should make sure their suppliers share their vision of wheat the organization should be doing to help it keep up with the rapidly changing technology in the telecommunication industry. Bargaining Power (Customers) Amidst all the competition faced by T-Mobile, customers have the right to know why they should choose to subscribe to T-Mobile and not its competitors. In response, the firm should ensure constant improvement of the customer’s experience with continued use of T-Mobile products. Customers are likely to get cheaper yet high quality services with an improved network. T-Mobile is able to fight off competition by improving its customer service. The firm should respond to customer enquiries in a timely and efficient manner. Substitute products The organization faces the need to produce unrivalled products in terms of quality and service. Therefore, the company needs to produce differentiated products to address the needs of more customers. Differentiated products include customized services and unique products only associated with the brand. Production of unique products and services helps the organization to create an identity that is distinct from the other products in the market, therefore attracting more consumers. Threat of new entrants T-Mobile faces a constant threat from firms seeking to join the global mobile service provision industry. The threat lies in the fact that the industry offers lucrative prospects for profits and growth, therefore appearing as a viable business opportunity. However, T-Mobile and other major mobile service providers worry less about new entrants because of the barriers to entry that currently exist in the global market for this industry. There are stringent rules for entry into the market, varying from country to country. Marketing Objectives The objectives for this strategy shall be: 1. To increase the number of subscribers through improvement in the T-Mobile network and systems 2. To increase the details offered to a customer during billing with the aim of improving customer experience. 3. To enhance efforts towards marketing new and enhanced T-Mobile products on popular websites These objectives aim at making the company more profitable through increasing subscribers and retaining loyal customers (Stokes, 135). They aim at ensuring company growth in the long term. There are, however, constraints that the firm will face in its attempt to accomplish this objective. Apart from financial constraints, T-Mobile faces the challenge of keeping up with innovations launched by its more established competitors. Increased and enhanced research mitigates these threats, making sure that the organization becomes a trendsetter with every product it brings into the market (Coen, 58). Generation of tactics and strategies for achieving objectives Research T-Mobile faces considerable competition from firms that constantly update their products and production methods. By undertaking research, T-Mobile will keep itself ahead of the rest by producing better quality and unique products and services. Customer service being a major point of consideration, the firm needs constant market research to be in touch with the constantly changing consumer tastes and preferences. Investment The organization faces the need to invest in infrastructure and technology that will make its products a better option. T-Mobile should invest in software that provides details to every customer about their subscription, therefore making them aware of their transactions. Investment in this kind of software ensures customer satisfaction arising from dissemination of knowledge that the customer needs. Marketing T-Mobile needs to undertake intense marketing to ensure the market is aware of the new advancements it is undertaking (Coen, 71). Marketing through the most popular media makes the T-Mobile brand more visible. Online would be a potent marketing place, considering most subscribers of mobile phone services spend a considerable amount of time online. Evaluation of Strategies Strengths This strategy gives the organization the opportunity to develop an image of an innovative organization. This endears the company to customers, since they feel that the company recognizes and responds to their needs through innovation. Further, this strategy proposes methods that ensure growth in subscription figures. Weaknesses The weakness of this strategy is that it takes a long time and resources to implement. Research and investment in infrastructure are costly; the company needs adequate funds to begin implementing this strategy. Opportunities The company faces the opportunity to attract new customers while retaining the ones already subscribed. T-Mobile can ensure customer loyalty through production of high quality products and constant innovation. Threats The firm faces the threat of producing either unpopular products or products that already exist in the market. This highlights the need for intense market research and research on new products to ensure a difference in T-Mobile products. T-Mobile eMarketing Plan Objective Tactics Outcome To increase subscriber figures Tactic 1: Improving the T-Mobile network through the development of better infrastructure Better infrastructure ensures the organization has hardware that ensures uninterrupted service, attracting more customers.   Tactic 2: Improving the T-Mobile network through investing in up-to-date software Investment in state- of –the –art software ensures customers enjoy uninterrupted and uncorrupted services   Tactic 3: Adopting the latest technology in system development Adopting the latest technology will attract consumers who prefer advanced technology, mostly young people To increase details available to customers during billing. Tactic 1: Developing a more articulate information management system A better information management system ensures all transactions and operations by consumers on the T-Mobile network are recorded and easily retrieved when needed   Tactic 2: Investing in information management software Up-to-date software ensures cases of missing data remain promptly and adequately addressed.   Tactic 3: Employing more personnel to respond to customer queries Taking customer queries on time solves any issues without delay, enhancing customer experience To enhance efforts towards marketing on popular websites Tactic 1: Setting up accounts on popular websites, mainly social media Having accounts on popular social media sites such as Facebook and Twitter makes more people aware of products and services of T-Mobile   Tactic 2 : Increasing web presence T-Mobile will have more interactions with customers and potential consumers by constantly updating content on its website.   Tactic 3: Advertising on popular browsers More people will get to know the offers on services and products provided by T-Mobile just by surfing the web through a server. Works Cited Coen, William A. Marketing plan. S.l.: John Wiley and Sons, 2009. Print. Stokes, Rob. eMarketing: the essential guide to marketing in a digital world. 5th ed. Cape Town: Quirk eMarketing, 2013. Print. Read More