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Comprehensive Marketing - Business Plan Example

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This work "Comprehensive Marketing Plan" focuses on the key aspects of the Smartphone market in India. The author describes the smartphone industry in India, a comprehensive marketing plan for a company that intends to introduce its new brand of smartphone named Yoxnea (fictitious name) in the country…
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Comprehensive Marketing Plan
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Download file to see previous pages A modest attempt has been made to estimate the budget requirements. Finally the paper details an action plan which must be adhered to if Yoxnea is to succeed in India.
The smartphone market in India has grown at astounding rates in recent years. The Indian smartphone industry registered a growth rate of 89 percent in 2013. 44 million smartphone units were sold during the year (Srivastava, 2014).   
India is one of the fastest-growing smartphone markets in the world. The country has attained the status of the third-largest smartphone market in the world, next only to China and the United States. According to research firm International Data Corporation (IDC), the Indian smartphone market will continue its growth spree at an estimated 40 percent during the next five years (Srivastava, 2014).
The growing trend of using the Internet on hand-held devices coupled with falling handset prices has provided the impetus for growth to the smartphone industry. The Indian consumers are price conscious and thus the majority of the smartphone sales in the country are in the sub $200 category.
The opportunity for Smartphone marketers is mouth-watering. Many domestic and international companies have jumped into the fray to cash in on the lucrative market. As a result, the smartphone market in the country has become highly competitive.
Samsung has maintained a leadership position in India by capturing 29 percent market share of the smartphone market. Home-grown company Micromax is a distant second with 18 percent market share. However, the rate at which Micromax is growing, it is expected that the indigenous company will topple Samsung from its numero uno position in the near future. Karbonn (8%), Lava (6%), and Motorola (5%) occupy the third, fourth, and fifth slot respectively in the list of top smartphone manufacturers in India. All other companies including Apple, HTC, Blackberry, and a host of Indian and Chinese brands account for the remaining 34 percent market share (Gaurav, 2014). ...Download file to see next pagesRead More
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