MarketingStrategy for Bristle Company
BristleCell Phone Company
Effectivemarketing is important for the success of every organization. This iswhy organizations are required to have a well structured marketingstrategy in order to enhance their market and customer base.Marketing helps organizations to establish and sustain theiroperations in the industry in addition to expanding their operationsin new regions. Organizations use marketing techniques when launchingnew products into the market. Bristle mobile Phone Company is in theprocess of launching two new products in the market. Bristle ismanufacturing cell phones but it is out sourcing Operating Systemfrom other Companies. Since it discovered that out sourcing is prettyexpensive, it has built its own and is planning to introduce two newproducts in the market: phone and an Operating System. BristleCompany is currently operating in the local market, but it intends totest waters in the global market.
Thispaper explores various strategies that Bristle Cell Phone Companywill employ to penetrate foreign markets with its new two products.
Anyother company that has made a name in the market today was onceunknown to many. It was through rigorous marketing strategies thatthey employed that enabled them to make a name in the industry. Everyproduct has got its own strategies for marketing. For instance, thisparticular company is planning to introduce a cell phone with totallyunique features. Apart from the brand new cell phone that they areplanning to introduce, Bristle Company is also in the process ofintroducing its own Operating System (OS). This company carried out afeasibility study and discovered that customer are really looking forsmart phones with very sensible touch screens and the same timecannot crack easily unless you take a blunt object and literallybreak them. Another thing that consumers are looking for is a phonewith real long lasting battery with wireless charger. BristleCellphone Company is actually planning to launch a smart phone withan unbreakable screen, wireless charger and a real long lastingbattery. It is also planning to introduce its own tailor-madeoperating system (Kirtiş& Karahan, 2011).
FeasibilityStudy for the New Market
Thefeasibility study is an important aspect of marketing as it is theonly way a marketing manager would get to know what are the consumerneeds, pricing strategies, and entry strategy. The feasibility studyis of particular importance for new markets. A new market could meana new country, city, region or even a new state. A proper feasibilitystudy should take at most two to three months to be completed. It isthrough feasibility study that will enable the company to gaugewhether its decision is appropriate and profitable. Throughfeasibility studies, the company will be able to determine whetherthe market is growing, shrinking or it is going to maintainstatus-quo. It will also enable management team to find out if thedecision that they are about to make is sound enough. The feasibilitystudy will also enable the company to find out who are theircompetitors are and how are they going to approach that competition(Kirtiş& Karahan, 2011).
Asa mobile phone manufacturer that has been in the industry for aconsiderably long time, launching two products will be advantageousin the operations of the company in the industry. Bristle will launcha new smart phone and a new operating system. Unlike in its previousmobile phone and smartphones, the new smartphone named bristled Ywill use the operating system that will be manufactured by thecompany.
Reasonsfor new products
BristleMobile Phone Company has been in the industry for over 20 yearsthrough which it has experienced tremendous growth in themanufacturing of mobile phones. The decision to launch a new smartphone, Bristled Y and the operating system will help to reduce thecost of products thus make relatively cheap products. ReleasingBristled Y and the operating system will enable Bristle Company toreach the markets with relatively low purchasing power such as Asia,South America, and Africa.
Bristledcompany has been outsourcing most of the components used in themanufacture of mobile phone products. The Smart phones developed inthe industry by Bristle Company have managed to win a considerablemarket share locally and other markets abroad. Apart frommanufacturing products with user-friendly features, the production ofthe new smartphone will have new features to solve the needs of theconsumers. The other advantage that the new products will bemanufactured at a relatively low cost thus effectively engages inprice competition with the rivals` products.
Thelaunch of the new products is likely to face two main risks: negativereception and failure of the operating system. The new relatively lowpriced smart phone Bristled Y is targeting developing countries inthe world. However, due to stiff competition in the industry, themanufacture of the smart phone may face a huge threat from the rivalsproducts in the industry thus fail to achieve the anticipatedsuccess. On the other hand, since this will be the first time theBristle Company will use its operating system in its smart phones, itmay experience various challenges such as unwillingness of thecustomers to practices with a new system in addition to operationfailure (Ghauri& Cateora, 2014).
Inorder to examine the progress of the smart phones and the receptionof the operating system, the companies will invest in a relationshipmanagement system. Bristle will invest in a software system that willallow for the first exchange of information from the sellers and theconsumers. The goal of the system will be to promote a goodrelationship between the sellers and the company. The system createsan effective community channel through which organizations can use tointeract with the customers. The software will be managed by the ITexperts who will also be in charge of online stores.
Discussat least one distribution channel for the two new products and/orservices.
Thedistribution channel of Bristle Company will focus on is retailstores and online stores. Most emerging markets in various developingcountries are highly accessing internet connection thus making onlinestores a lucrative distribution channel. The retail stores willmanage to reach the customers and also enable the customers tointeract with the sellers. The online stores will enable Bristle toreach a wider market in the region as well as remove the middle menthat are involved in the sales process. This will further enable thecompany to reduce the cost of its products.
Analyzekey considerations for entering a global market
Asia,which is the main target market of Bristle Company, it may face stiffcompetition from the phone companies in the region. To access themarket, Bristle market will engage in acquisition and merging withrelatively smaller companies. This will be a good strategy forentering the market as the local will easily embrace the new market.This will require working in line with the requirement of the law orthe target market.
Analyzehow the global supply chain may affect the product or service
Bristleworks with a complex supply chain that provides various componentsused in the manufacture of its mobile phones. In order to meet thedesires of the market, Bristle will have to enlarge its suppliers inorder to be in a good position to satisfy the anticipated marketexpansion. Bristle company will have to reduce some suppliers such asthe suppliers of the operating system and the suppliers of some ofits components. The reduction of the supply chain will help to reducethe cost of production thus reduce the prices charged on products.
Discussa major pricing strategy (i.e., cost plus pricing, competition-basedpricing, break-even-based pricing, penetration-based pricing, premiumpricing) aligned to your products and/or services’ position withinthe overall market strategy of the global marketplace.
BristledY product will first be focused on countering the rival productsusing a price competition strategy. Bristle`s new smart phone will besold at a relatively low price to help in ensuring that the lowincome earners can afford the products. Because of the low economicstatus in the main target markets, selling the phones at therelatively low price will make the product affordable to the peopleliving the region.
Apartfrom selling the smart phones, Bristle Company will also focus onselling the operating system to other mobile phone companies ataffordable agreements. Selling operating systems to other companieswill help Bristle Company to increase annual revenue thus creating aroom for reducing the cost of the smart phones.
Costsassociated with developing and launching the new products
Indeveloping the new products, Bristle Company will have to invest ahuge capital in its operations. In addition, the company will have tohire new employees to participate in the restructuring of the newfunction of the organization (Hui et al. 2013). Hiring new employeesand embracing new functions means that the organization will have tomake a new adjustment which may affect the normal operation of theorganization. Enlarging the organization may lead to conflicts andloss of morale of employees if the human resource management is notwell managed.
Consumeracceptance of the price set for the new products
Firstand foremost, it is important to understand that Bristle Company willtarget countries with relatively low purchasing power. Therefore,selling the Bristled Y smart phone at low prices will make thecustomers since receiving the products. The strategy to sell theproduct at low prices is meant to enable the product to resonate withthe consumers in the target market. The Bristled Y will also beappealing to the customers because it will have features that willserve the needs of the customers such as adequate space, fastoperations and clear displays (Hui et al. 2013).
Competitorprices for similar products
Currently,Bristle is faced with competition from two major players in theindustry. One of the competitors is widely known for the manufactureof a quality brand but at very high prices. This means that bystrategizing its operations to cater for low income earners withdesires to own smart phones, Bristled Y will win more customers inthe market. The second competitor is known for the manufacture of lowquality products although they are offered at low prices. BristleMobile Phone Company will not only sell it products at low prices butit will ensure that the products are at the quality that meets thedesires of the customers.
Promotionalstrategy you will use to promote your products
Althoughexploring new markets is a strategy that organizations use to expandtheir market operations, without proper product promotion tactics, itcan be challenging to win the market. In order to win a wider marketsize, Bristle Mobile Phone Company will engage in different productpromotion tactics which will include advertisement, public relationsand engaging in social responsibility activities (Ghauri& Cateora, 2014).
Massmedia and two social media channels
Withhigh increase in the number of people that can access internetconnection across the world, the internet and social media has becomea good platform for reaching a wider market. In order to reach awider market in China, Asia, Bristle Company will invest in massmedia advertisements. The company will buy advertisement space inmajor national televisions in the China in addition to making radioadvertisements about the products. The company will also invest insocial media experts who will be responsible for the online marketingof the product. Apart from advertising products online, the companywill also engage in selling its products online (Hoffman & Fodor,2010).
BristleCell Phone Company will invest in two main social media platforms:WebChat and YouTube. The decision to invest in WeChat is due to thefact that WeChat is one of the social sites with the highest numberof users in the Asia with more than 700 million users, WeChat is astrategic platform that Bristle Company will use to promote the twonew products (D-Info.Me Org, 2016). This will give the Cell PhoneCompany an opportunity to expose the new smartphone (Bristled Y) to awider market base. The other factor that makes WeChat one of the bestchoices is because it can be used to send a wide range of messages tomultiple users in addition to synchronizes with many platforms. Onthe other hand, the decision to invest in YouTube is because therehas been an increase in the accessibility of internet in China andother developing nations which has made it easy to access the YouTube(Hoffman & Fodor, 2010). In the Youtube, the company willadvertise in the various videos that are people watch online throughYoutube.
Channelsbased on market segmentation
Thedecision to sell the products using direct retail stores and onlinestores is based on the fact that the two channels will enable Bristleto reach a wider market base. The online sales combined with onlineproduct promotion are effective in ensuring that the company reachesa wider market beyond the geographical locations. The direct retailstores will promote engagement and direct relationship between thesellers and the customers. The retail stores will offer local anopportunity to learn directly from the sellers on various aspects andfeatures about the products.
Apartfrom advertisements, the company will focus on winning the customerby using other promotion strategies such as offering discounts andwinning coupons and travel tickets for a vacation for two people.This strategy will help the company win customers as well as increasethe loyalty of the customers (Ghauri& Cateora, 2014).The buyers of the Bristled Y will be given a chance to win atravelling voucher. The winners of the voucher will choose either tobe taken to Disney Land, Dubai or England to enjoy a live final matchof English Premier League. In addition, because of the economychallenges that face China and other developing nations, Bristle CellPhone Company will take the opportunity to fund various projectsrelated to the operations of the company. For instance, the Companywill participate in funding local leagues in China and other targetmarkets. This will give Bristle an opportunity to strengthen itsbrand and make the community to have a positive image of the Company.
Propermarketing strategy can enable an organization to win a wider marketshare. When launching a new product, organizations should combinevarious marketing strategies such as product promotion and markettargeting. Bristle Mobile Phone Company plans of launching twoproducts, Bristled Y smart phone and operating system, to explore anopportunity in the market. The launch of Bristled Y smart phone thatwill be using an operating system will enable the company to lowerits cost of production. The lowering of the cost of the productioncompany will enable Bristle Company to sell the smart phones atrelatively lower prices. This is a strategy that is in line with thetarget of the Company of entering markets in Asia and other economieswith relatively low purchasing power. The aim of the company is toserve the rising demand for smart phones in developing countries. Inorder to win the market, Bristle will focus on selling the productsin retail stores and online stores. In addition, the organizationwill engage in various forms of product promotion techniques such asadvertisement and public relations.
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