VODAFONE MARKETING MIX STRATEGY
... Student is one of the biggest customer parts of our company. Young people like new trend of popular item. I am planning to make a change of renew the contract to get a handset in the south east England. For our returning customers which our firm customers, if they want to renew their contract and get a new handset, the charge will be up to how many years they have been our customers. They can renew their one year new contract and get a modern handset with the cheap price. Our core target markets will be our firm and returning customers in south east England. At the beginning to achieve this core target markets we should do a marketing research. In south east England you can find the specialist mobile phone retailers easily. O2 Link Orange T-mobile and Vodafone are all on the high street in each city. Competition is intense. Section 2: Marketing Mix Tactics: 1. product mix Product is in order to fix the market. What dose customer requires then what we will provide. A specific new product strategy explicitly places NPD at the heart of an organisation¡¦s priorities, sets out the competitive requirements of the company¡¦s new products and is effectively the first ¡¥stage¡¦ of the development process. It comprises an explicit view of where a new programme of development sits in relation to the technologies that are employed by the company and the markets which these technologies will serve. ƒÜ Technology and marketing: One of the most prevalent themes running throughout the contributions on strategic orientations is the merging of the technical and marketing strategic thrusts. ƒÜ Product advantages The literature refers to new product strategies which emphasize the search for a differential advantage, through the product itself. ƒÜ Synergy A further strategic consideration discussed here is the relationship between the NPD and existing activities, known as the synergy with existing activities. ƒÜ Risk Finally, the creation of internal orientation or climate which accepts risk is highlighted as a major role for the new product strategy. We are going to provide our customers kinds of new products to fix different requirements. Students like popular handset. So we can provide them mobile phone with MP3. Because they like listening to the music. We also can provide officers handsets with PDA function. 2. Pricing strategy Price is one of the most useful weapons to force beat our competitors. But it also can harm us. Price is really important. The most common and obvious rationale given for the importance of price is that price is the only element in the marketing mix that generates revenue; all other elements are associated with costs. However, the unique role of price as a revenue-generating marketing mix element is by no means the only characteristic that makes price so important. Consider the following: ƒÜ Price has very strong impact on sales volume and market share; empirical studies have shown that, for most products, price elasticity is substantially higher than advertising elasticity-up to twenty times higher. ƒÜ Not only does price have a strong influence on demand but such influence in manifested much faster than for other marketing mix instruments for which considerable time lags may be involved. ƒÜ Pricing has also been identified as a key factor governing new product success or failure. Setting price is in order to get profit. We should do it carefully. It is not a simple job and easy to do. The drivers of profit are price, volume and cost. Our price connects with our competitors¡¦ price. Price attracts people to be our customers. we should set it from the customers perspective. The very definition of price as ¡¥the amount of money we must sacrifice to acquire something we desire provides clear cues as to the way in which customer considerations impact on pricing. a. The notion of price as a ¡¥sacrifice¡¦ implies that the customer must give something up. b. In incurring a ¡¥sacrifice¡¦, the customer must be able to do so. c. Not only must a potential customer be able to pay the price, he must also be willing to do so. So we should appreciate that¡X Customers do not have perfect information regarding available products and their prices. Even if such information were available, people are not perfect processors. As the result, customers are not always very pricing aware. In south east England the most attractive temptation is price. We need to set a valuable price to get customers. At first we should know our competitors marketing strategy. We should set the same price with them at least. Then we can use our service and famous history to get more customers in order to get more market share. 3. Marketing channel method Marketing channels can be defined as an organised network (system) of agencies and institutions which, in combination, performs all the activities required to link producers with users to accomplish the marketing task. The important components of this definition¡Xan organised network, agencies and institutions, channel activities, the linkage of producers and users, and the marketing task¡Xare explained in the next section where marketing channels are also compared and contrasted with retailing, wholesaling, and physical distribution. The marketing channel method will be as following in the south east of England. The first is product planning. Can potential new products be sold through the same channels as existing products? New products face to our returning customers. They have right to choose new products as they wish. We should to train of staff to popularize our new marketing strategy. And we should make them know what benefit they can get from it. With the developing of marketing strategy we should develop new products to fit customers. We need to develop new products requirement with our manufactory. The second is pricing management. How should we control we handle distributor¡¦s that purchase our products through unauthorized distribution channels and then resell them at a discount to traditional customers? What quantity discount schedule enables us to maximise our market share? The quantity discount is up to our competitors pricing policy and the cost of products. We can base 5 percent discount of our new products on our competitors¡¦ price. It will help us to win the competition with other companies. The last one is promotion management. We have some questions to think about. They are as following: What is the best mix of advertising, publicity, selling, and sales promotion for an intermediary? What is the best mix of advertising, publicity, selling, and sales promotion for final consumers? How can we get intermediaries to effectively use our cooperative advertising allowance? What cooperative advertising allowance should we provide to an intermediary? What types of sales contests and other incentives will best motivation a wholesaler¡¦s and retailer¡¦s salespersons? How should we determine whole quotas? If we want to perform our new marketing strategy in the south east of England, we should do something as following before be start. The element of channel costs: Customer communications¡X ƒÜ Personal selling ƒÜ Travel ƒÜ Sales meetings ƒÜ telemarketing ƒÜ computer interfaces with customers ƒÜ trade shows and demonstrations ...