Changes in the Marketing Environment Essay
Changes in the Marketing Environment
In recent times, from an economic environment perspective, people are getting more affluent, even in third world countries like Vietnam, the younger generation are more interested in spending on the latest fashion and gadgets, like iPods. Phone marketers might want to include phone designs which allow for self-expression, hence catering to the younger people seeking to carve out their own identity. For example, young girls in Japan like to stick many shiny crystals on their phones as they see it as a form of beautiful art. Phone marketers can cash in on this growing trend by offering phones which have suitable surfaces for crystal gluing, and they might want to also consider having a tie-up with a suitable bead company in order to have a package selling the crystals together with the phones. An important marketing strategy in catering to the changing political environment would be cause-marketing. It is by cause-marketing that phone marketers can reassure the public that they are socially responsible, even in the midst of increasing unethical behaviour existing in society. Cause marketing might be the determining factor which might set a phone or a brand of phones apart, especially if customers have the same perception of 2 brands of phones and are undecided which to choose.
Phone marketers can follow Motorola’s lead whereby they produced a red “razr” phone to promote awareness of aids, which was highly successful. Another important marketing strategy is for the marketer to observe the changing demographic forces and decide which target group they can focus on in order to make the most profits. Quite a few countries in the world are facing an aging population, like Japan, China and Singapore. This might be a good target market to go into, by manufacturing phones which are suited for older people like by having larger screens and more user-friendly buttons. Technological forces are constantly changing, and a good marketer would be able to foresee what kinds of functions people might want in their phones. Marketers might want to research about what form of entertainment is capturing people and cater to these needs.
Sony Ericsson realised that music was slowly becoming an integral part of people’s lives, no matter what age and produced the walkman phone series which was highly popular. The path to success and its maintenance depends very much on a phone marketer’s resellers and suppliers, hence phone marketers should engage in tie-ups with them both. A phone marketer’s resellers normally consist of telecommunications companies. Marketers can offer to sell their phones at a lower price to these companies, and in exchange, persuade them to offer more attractive or cheaper line subscription packages when customers purchase the phones of the marketers’. Marketers should constantly source for more efficient and cheaper suppliers and sign a long-term contract with them. Marketers might also want to consider suppliers based in China or India, as labour in such countries is known to be one of the cheapest, yet efficient, in the world.
Lastly, marketers should always keep an eye out for competition and continually check on other phone marketers’ strategies and phone pricing. Marketers should also be aware that competition not only lies with other phone marketers, but in any company that has to do with providing entertainment or convenience to people. For example, Apple is not a phone manufacturer, but it is beginning to slowly capture the phone market due to its iPhone. Phone marketers might want to produce phones which have the capability to rival such phones, or if they are unable to do so run a major advertisement campaign to promote their phones against other rival phones, so as to hopefully mould the public’s thinking into their liking. Alternatively, phone marketers can also liaise with major entertainment companies like Apple or Creative to work together to produce quality phones or gadgets to capture a major share of the phone market.