Module: LV – 5001
Strategic Marketing
Analysis of the Business Environment
Assignment (1)
Submitted to:
Submitted by:
Daw May Thu Zaw
Moe Pwint Khin
BBA Program
Batch (1)
Digital Campus
Date of Summited
2.1.2023
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Table of Contents
1.
Executive Summary ................................................................................................ 3
2.
Introduction ............................................................................................................ 3
3.
Consumer Decision Making Process in Mobile Phone Industry ............................ 4
4.
Analysis 1: The External Opportunities of Mobile Phones .................................... 4
5. Analysis 2: The Main Factors of Customer Segmentation and Targeting in Mobile
Phone Market ................................................................................................................. 5
6. Analysis 3: The Internal Strengths and Weaknesses ............................................... 8
6.1 The Internal Strengths of Mobile Phones ............................................................... 8
6.2 The Weaknesses of Mobile Phones ........................................................................ 9
7.
Conclusion and Recommendation ........................................................................ 10
8. References .............................................................................................................. 11
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1.
Executive Summary
A marketing manager conducts market research to understand trends
and customer preferences, create marketing strategies and budgets, oversee
the creation of marketing materials, and perform other related tasks essential
to the promotion of the business. Mobile marketing managers are tasked
with promoting products or services to consumers on their digital handheld
devices.
The mobile marketing manager works with cross-functional teams
across the organization to develop smartphone strategies that connect us.
The job requires an understanding of mobile phone technology and how
users use phones to communicate or entertain themselves. A mobile
marketing manager must stay abreast of every new trend affecting
technology and the users who love it.
2.
Introduction
Smart mobile applications are software applications which are designed
for use on tablets and other mobile devices. Because of rapid technological
advancement, mobile applications have become one of the primary tools we
use every day in our personal and professional lives. Applications are
available for free or purchased from mobile application distribution
platforms. These applications play vital roles in facilitating many key
applications in our society including utilities, social, communication,
education, business,
entertainment, medical,
finance,
travel,
and
transportation.
Smartphones and tablets become more exaggerated and topical for
communication among all demographics. They are smaller, cheaper, and
more utilizable than computers and laptops. Manufacturers are also
responding to develop faster, more powerful, and less expensive mobile
devices so that the consumer demand will obviously increase. These
developments bring excellent opportunities to the marketers to put their
marketing messages into the hands of consumers, and mobile allows
marketers and advertisers to reach a wider audience consequently. Digital
marketing is constantly evolving, and mobile marketing plays a key role in
that strategy. The shift to mobile devices is a trend that will continue to
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grow, and businesses need to have an integrated mobile marketing plan to
connect with their digital consumers.
3.
Consumer Decision Making Process in Mobile Phone Industry
The smartphone market has experienced significant growth as the needs
and wants of consumers are evolving with remarkable innovations in this
industry. In this modern era, mobile phones are the most important
technology used in households. Smartphones have become an important part
of people's daily lives in terms of communication. In this highly competitive
industry, manufacturers must strive to design sophisticated mobile phones
with the most advanced features to stand out and gain higher market shares.
As the competition widens, the organization must ensure that they are able
to communicate the elements that distinguish their products from the
market. As a marketer, it is important to be familiar with the consumer
decision-making process.
The consumer decision-making process has various stages that people
go through before deciding to purchase a product or service. In order to
attract more customers and increase the profits of your organization, it is
important to have a good understanding of every step of this process, not
just the sales phase. In fact, several factors determine consumer behavior
before proceeding with a purchase (mmeko, 2021).
4.
Analysis 1: The External Opportunities of Mobile Phones
A report needs to be produced to analyze the external environment of
the mobile industry and identify the implications for the marketing
department of a large mobile manufacturer that has decided to develop new
high-tech mobile devices for young professionals. The external influences
affect the organization's operations and the impact on our customers and
suppliers. The organization is affected directly or indirectly by both internal
and external factors. Opportunities for any brand can include areas of
growth to enhance its progress of business. A brand's opportunities include
geographic expansion, product enhancements, better communication, and
etc.
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The three of the following are the opportunities in Mobile SWOT
Analysis.
1. Multifold expansion helps to make belief in customer’s mind.
2. Eternally growth of telecom market.
3. Leverage a strong brand (Team, 2020).
5.
Analysis 2: The Main Factors of Customer Segmentation and
Targeting in Mobile Phone Market
Customer segmentation deals with differentiating groups of customers
based on similarities. Customer segmentation is greatly beneficial for
mobile marketers as they can easily target the right audience. In addition,
personalized marketing messages can convert leads more effectively.
Although there are millions of ways to segment customers based on their
data, some may be beneficial to create effective segments for the marketing
campaign. The following are the most common types of customer
segmentation:
(1) Demographic Segmentation
(2) Geographic Segmentation
(3) Technographic Segmentation
(4) Psychographic Segmentation
(5) Behavioral Segmentation (Bonnie, n.d.)
(1) Demographic Segmentation
Demographic analysis is the collection of information about the typical
characteristics of a particular population. It is frequently used as a business
marketing tool to figure out the best way to reach customers and evaluate
their behavior. Segmenting the population by using demographics allows
companies to determine the size of the potential market. Using
demographics helps determine to target its products and services to the most
influential customers. For example, market segments can identify an age
group, such as baby boomers (those born in1946-1964) or millennials (those
born in 1981-1996) (HAYES, 2022).
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(2) Geographic Segmentation
Geographic segmentation is an integral part of a marketing strategy that
enables to target products or services based on where consumers reside.
Division in terms of countries, states, regions, cities, colleges, or areas is
done to understand the audience and market a product or service
accordingly. A marketing strategy created by dividing the target market into
segments based on factors such as customs and other characteristics is called
geographic segmentation (Bhat, n.d.).
(3) Technographic Segmentation
Technographic segmentation is marketing research that identifies and
profiles consumer characteristics and behaviors through the process of
market segmentation. Traditionally, market researchers have focused on
various demographics, psychographic, and lifestyle to categorize and
describe the homogeneous groups of consumers that comprise potential
target markets. (Malali, 2022).
(4) Psychographic Segmentation
Psychographic segmentation is marketing research as a form of market
segmentation. It separates consumers into subdivision groups based on their
motivations,
agreeableness,
conscientiousness,
psychological
characteristics, and priorities to explain and predict consumer behavior. It
complements demographic and socioeconomic segmentation and enables to
target audiences by sending messages to products or services. Marketing
experts argue that some lifestyle segmentation is interchangeable with
psychographic segmentation, where psychographics relates to consumers'
cognitive patterns and lifestyles based on their thoughts, feelings and
perceptions (Malali, 2022).
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Figure 5.1 Psychographic Segmentation
Figure 5.2 The Big Five Personality Traits
Source: googleapis.com
Source: unbounce.com
(5) Behavioral Segmentation
Behavioral segmentation is a strategy of splitting a market of customers
into tiny groups according to their buying habits and behaviors. Companies
begin the process of behavioral segmentation by studying how customers
evolve and understand the desires, needs, and preferences of the consumers.
Behavioral segmentation is a part of population and firm segmentation
where marketers start with assumptions without including facts. This
indicates that marketers must find correlations between unrelated
characteristics and customer buying patterns and group them into a certain
demographic (Shaw, n.d.).
Figure 5.3 Types of customer segmentation in mobile marketing
Source: appice.io
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6.
Analysis 3: The Internal Strengths and Weaknesses
6.1
The Internal Strengths of Mobile Phones
Mobile phones are important business devices for business owners and
their employees. While they offer many benefits, using mobile phones in
the workplace is not without its challenges. The use of mobile phones in
business improves productivity, mobility, safety and the morale of
employees.
Mobile phones can help employees to:
-improve customer service
-remain in contact with the office, customers and suppliers
increase mobility
-increase productivity
-work remotely (e.g., work from home or away from an office)
The major advantage to mobile phone is that it is easier to express
oneself through communication and creativity, to access entertainment, to
be safe, and to connect to the internet. Mobile phones can enhance
communication, creativity, entertainment opportunities, and keeping us
unharmed.
Mobile phones have a huge strength over the opportunity to use the
internet. With its aid, we can be as smart and informed as we want to be at
any given moment. Mobile phones offer us the benefits such as
communicating easily, engaging in creative work through simple
applications, being to be entertained, to be protected, and to access the
internet with the press of button.
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6.2
The Weaknesses of Mobile Phones
Significant business challenges can arise from the use of mobile phones
in the workplace. For example:
(1) Workflow Disruption: Constant communication in the form of
personal and work-related calls can disrupt employees' workflow
and decrease their productivity.
(2) Compromised work-life balance: 'All hours' availability can
interfere with the employees' personal lives if they take calls outside
of their working hours.
(3) Costs: Providing the workforce with mobile phones can be
expensive. However, we can enable features on our handsets and
SIM cards to restrict phone use to business purposes only. We can
also choose a tariff that matches the company's usage and talk to our
provider about the possibilities.
(4) Legal issues: Using a cell phone while driving is prohibited. If we
need or allow the employees to use a mobile phone while on duty,
they may be committing an offence. Mobile phones have many
security issues that can leak the private info and photos or videos on
the phone (Prasanna, 2020).
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7.
Conclusion and Recommendation
Marketing segmentation enables to learn more about the audience, their
preferences and needs. Customer segmentation involves dividing customers
into groups based on similar characteristics. Mobile marketers can make the
most of their campaign budgets by targeting and segmenting the right
audiences. If a company wants to get the maximum benefit from its
marketing and sales efforts, it must segment its customers.
A mobile marketing manager is tasked with promoting products or
services to consumers on their digital handheld devices. The marketing
manager works with cross-functional teams in the organization to develop
mobile phone strategies that engage us. The marketer must also stay on top
of any contemporary trends affecting the technology and the users that love
it. Situational analysis, strategic development, marketing program
development, and implementation are four stages that provide decision
making in the marketing planning process. At each level, the marketing
manager is responsible for clarifying problems and finding the solutions,
then choosing between decision options.
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8.
References
Anonymous. (September, 2017). Psychographic segmentation. Retrieved from
wikipedia.org: https://en.m.wikipedia.org/wiki/Psychographic_segmentation
Anonymous. (n.d.). Advantages and disadvantages of mobile phones in business.
Retrieved from nibusinessinfo.co.uk:
https://www.nibusinessinfo.co.uk/content/advantages-and-disadvantagesmobile-phones-business
Bhat, A. (n.d.). Geographic Segmentation: Definition, Characteristics and Examples.
Retrieved from questionpro.com/blog:
https://www.questionpro.com/blog/geographicsegmentation/#:~:text=Geographic%20segmentation%20is%20a%20compone
nt,market%20a%20product%2Fservice%20accordingly
Bonnie, E. (n.d.). 6 Customer Segmentation Examples for Better Mobile Marketing.
Retrieved from clevertap.com: https://clevertap.com/blog/customersegmentation-examples-for-better-mobile-marketing/
Gopi, S. (7 September, 2020). Types of Customer Segmentation for Better Mobile
Marketing. Retrieved from appice.io: https://www.appice.io/types-ofcustomer-segmentation-for-better-mobile-marketing/
HAYES, A. (31 August, 2022). Demographics: How to Collect, Analyze, and Use
Demographic Data. Retrieved from investopedia.com:
https://www.investopedia.com/terms/d/demographics.asp
Malali, S. (25 April, 2022). Customer Segmentation: Explained. Retrieved from
slintel.com: https://www.slintel.com/blog/customer-segmentation/
mmeko. (3 September, 2021). Consumer Decision Making Process in the Mobile
Phone Industry. Retrieved from mery-market.com: http://merymarket.com/consumer-decision-making-process-in-the-mobile-phoneindustry/
Prasanna. (6 November, 2020). Essay on Disadvantage of Mobile Phones. Retrieved
from aplustopper.com: https://www.aplustopper.com/essay-on-disadvantageof-mobile-phones/
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Shaw, A. A. (n.d.). Behavioral Segmentation – Definition, Types, Examples &
Advantages. Retrieved from marketingtutor.net:
https://www.marketingtutor.net/behavioralsegmentation/#:~:text=Behavioral%20segmentation%20is%20a%20strategy%
20that%20splits%20the,wants%2C%20needs%2C%20and%20buying%20patt
erns%20of%20the%20customer.
Team, M. S. (12 April , 2020). 3 Mobile SWOT Analysis, Competitors & USP.
Retrieved from mbaskool.com:
https://www.mbaskool.com/brandguide/telecom-service-providers/522-3mobile.html#opportunities
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