Marketing Plan for HTC M9 - 2750 Words

Marketing Plan for HTC M9 (Research Paper Sample) Content: Marketing Plan: HTC M9Studentà ¢Ã¢â€š ¬s NameInstitutional AffiliationTable of Contents TOC \o "1-3" \h \z \u Marketing HTC M9 PAGEREF _Toc434441173 \h 3Mission Statement PAGEREF _Toc434441174 \h 3SWOT Analysis PAGEREF _Toc434441175 \h 4Marketing Strategic Plan PAGEREF _Toc434441176 \h 8E-Marketing Strategy (Focus on the 4Ps strategies: Product, Price, Place Promotion) PAGEREF _Toc434441177 \h 11Implementation Plan PAGEREF _Toc434441178 \h 13Evaluation Budget PAGEREF _Toc434441179 \h 15Conclusion PAGEREF _Toc434441180 \h 15References PAGEREF _Toc434441181 \h 17Marketing HTC M9High Tech Computer (HTC) is a leading smart phone producer that deals with the manufacturing of both android and windows mobiles phones. Since its inception in the year 1997, the firm has been able to grow from a small business that was initially set up in Taiwan, into a world class organization that now hires multitudes of people all over around the globe. It now serves more than 20 different markets including the UK, the US, UAE, Japan, France, China and Brazil. Mohammad, Kousar, Mortaza (2013) explain that HTC has grown through a path that involved multiple remodelling of their business strategy in order to ensure competitiveness in the smart phone market. HTC has entered into significant partnerships with leading smart phone distributors in America, Europe and Asia. It has invested in the modernisation of its brands in order to deliver standards that are above the expectations of the consumer. Recently, the firm has sold a series of new smart phones like the HTC M8, which was celebrated for its powerful performance and excellent interface (Puccinelli et al. 2015). This is a marketing plan for HTC M9, which comes with a 20-megapixel camera an eye-catching hardware and octa-core processor, posing as a strong competitor to models like iPhone 6 plus and Samsung Galaxy 6. The paper will consider analysing the internal and external environment of this company, as well as other factors that can affect the marketability of this new phone.Mission StatementThe mission statement for HTC is to grow into the largest innovator, designer, producer and supplier of mobile devices for communication and information tools. It also strives to shorten the distance between people through the use of communications technology, ad well as to enhance the security and management of information. Situational AnalysisSWOT AnalysisA SWOT analysis is a valuable tool since it helps to analyse the internal and external environment of a business. Ashil, Frederikson, Davies (2014) say that this tool can help a manager to establish the success and failures of the firm, and as well as to understand the challenges that are facing the operations of the company. This section will conduct a comprehensive SWOT analysis of HCT mobile company, in order to determine that factors that affect its internal and external environment.Strengths * Cu stomer LoyaltyAhuja Medury (2012) defines customer loyalty as a consistent emotional attachment that consumers show towards a given product. Over the years, HTC has managed to attract and retain a broad customer base, which have since remained loyal to this product. In this case, the company should only focus on marketing to new products, and works out strategies that will ensure that the prevailing consumers remain loyal. This has been achieved by delivering top-notch products to the consumer and setting up efficient customer centres in different cities. These customers who are loyal can also be used as marketing platforms by creating marketing rhymes, as explained by Even, Shankaranarayanan, Berger (2010). * Pioneering InnovationsHTC is known for its unique style and creative devices. HTC has come up with more than one outstanding innovation that has placed it on top of many well-known smart phones. The first personal data assistant in the world was developed by this company in the year 1997. In 2007, the firm fascinated the market when it displayed the worldà ¢Ã¢â€š ¬s first 3D touch-screen smart phone. Eltantawy (2015) reveals that in 2009, another model, the HTC Sense, was launched with the objectives of meeting user habits and giving consumers a new intelligent experience with the phone. Later, they produced HTC Hero, which propelled them to winning a 2011 award for the best smart phone designer. * International PresenceTorabi (2013) argues that operating business from one country can be tricky, and risky since the entire firms become exposed to political and economic risks that may arise in that nation. In this case, multinational companies are advantageous since they are not subjected to policies and rules from a single environment. HTC, being an international company, is not an exception of these advantages. An international presence also gives this company a chance to sell many products and hence enjoy the benefits of scale. * High Growth RateMany people did not know HTC before the year 2007. However, as Dominici, (2012) explains, the company has expanded at a fast rate in the recent years, and it now sells its products in many countries across the globe. The Bloomberg business review indicates that the company experienced a $1.5 billion upsurge in their last quarter sales for the year 2014. HTC recorded an operating profit of close to $200 million, unlike the $30 million that had been projected by analysts. It is foreseen that that HTC will continue to grow at tremendous rates in the year 2015, as it plans to launch new smart phone models into the market.Weaknesses * High PricesAccording to El-Gohary (2011) price is one of the most important factors that consumers consider while making decisions to purchase a product. As much as people may desire to buy a certain product, they are always restricted by their budget. Many HTC products are usually sold at a higher price compared to similar phones from companies like Samsung or Huawei. The company has not shown any indication that it may lower the prices for its phones; it keeps producing good but expensive phones, which are out of the reach of many potential consumers. They should consider manufacturing low-cost products for lowly and middle-income consumers. * Limited AdvertisingAdvertising is an essential part of any business, as described by Baldus, Voorhees, Calantone (2015) since it is one of the best and most effective methods for communicating to consumers about your products and services. HTC has invested a lot of money in innovation and production of unique and high-performing products, yet it has given very little focus on product advertising. This makes it hard to recruit new consumers since the potential market does not have enough information about HTC mobile phones.Opportunities * International MarketThe world is steadily opening up to one large market, where businessmen and consumers can move freely. This is an opportunity for HCT to expa nd strategically to different friendly nations across the universe. Many countries in parts of Africa and Asia are opening up for business. The international community is also campaigning against strict and unfavourable business policies and regulations that hinder international business. This firm can expand strategically in nations that are opening up, and increase its customers, which will eventually translate to higher revenues. * Demand for Innovative ProductsThe need forÂunique and innovative products among consumers of mobile phones is rising speedily. Doligalski et al., (2015) reveals that modern day smartphone customers are more interested in the innovativeness and creativity of mobile phones as opposed to the traditional customers who were only concerned with a few utility functions. This company can take advantage of this and produce products that will appeal to this market niche before other competing companies spot the opportunity.Threats * Price WarsAs more compani es infiltrate into the smartphone market, it is increasingly becoming hard to attract consumers. Companies have resorted to using price wars as a method of luring potential consumers into buying their products. HTC smartphones are highly priced, as compared to many other brands from the same industry. * Speed of Technological AdvancementPuccinelli, Wilcox, Grewal (2015) reveal that the world has never witnessed a fast technological evolution like what is currently being seen in the world. Consumers needs are expanding speedily too, and firms have to keep up with this speed. As much as new technology is advantageous, companies find it expensive to keep updating their systems. HTC has to replace and find new machinery to be able to deliver products with the latest technology. This also creates the threat of having an enormous amount of dead stock when consumers shift their technological needs when the company still has a large number of unsold products. * CompetitionHTC faces signifi cant competition from mobile phone giants like Apple, Samsung, Huawei, and other companies like Techno mobile that are starting to gain popularity in the industry. Dominici (2012) reveals that attracting Apple consumers is one of the trickiest challenges that face HTC; while, on the other hand, Apple has positioned itself strategically to win over the minds of most smartphone lovers, especially the young generations.Marketing Strategic Plan SegmentationEltantawy (2015) says that a marketing technique cannot be useful in buyers from all markets. Segmentation helps to ensure that each market is classified depending on the segments that will appeal to it, in order to develop a good relationship with potential customers. According to Torabi (2013), markets can be segmented geographically, demographically, based on psychographics, or according to behaviour. The market for HTC M9 will be divided ba... Marketing Plan for HTC M9 - 2750 Words Marketing Plan for HTC M9 (Research Paper Sample) Content: Marketing Plan: HTC M9Studentà ¢Ã¢â€š ¬s NameInstitutional AffiliationTable of Contents TOC \o "1-3" \h \z \u Marketing HTC M9 PAGEREF _Toc434441173 \h 3Mission Statement PAGEREF _Toc434441174 \h 3SWOT Analysis PAGEREF _Toc434441175 \h 4Marketing Strategic Plan PAGEREF _Toc434441176 \h 8E-Marketing Strategy (Focus on the 4Ps strategies: Product, Price, Place Promotion) PAGEREF _Toc434441177 \h 11Implementation Plan PAGEREF _Toc434441178 \h 13Evaluation Budget PAGEREF _Toc434441179 \h 15Conclusion PAGEREF _Toc434441180 \h 15References PAGEREF _Toc434441181 \h 17Marketing HTC M9High Tech Computer (HTC) is a leading smart phone producer that deals with the manufacturing of both android and windows mobiles phones. Since its inception in the year 1997, the firm has been able to grow from a small business that was initially set up in Taiwan, into a world class organization that now hires multitudes of people all over around the globe. It now serves more than 20 different markets including the UK, the US, UAE, Japan, France, China and Brazil. Mohammad, Kousar, Mortaza (2013) explain that HTC has grown through a path that involved multiple remodelling of their business strategy in order to ensure competitiveness in the smart phone market. HTC has entered into significant partnerships with leading smart phone distributors in America, Europe and Asia. It has invested in the modernisation of its brands in order to deliver standards that are above the expectations of the consumer. Recently, the firm has sold a series of new smart phones like the HTC M8, which was celebrated for its powerful performance and excellent interface (Puccinelli et al. 2015). This is a marketing plan for HTC M9, which comes with a 20-megapixel camera an eye-catching hardware and octa-core processor, posing as a strong competitor to models like iPhone 6 plus and Samsung Galaxy 6. The paper will consider analysing the internal and external environment of this company, as well as other factors that can affect the marketability of this new phone.Mission StatementThe mission statement for HTC is to grow into the largest innovator, designer, producer and supplier of mobile devices for communication and information tools. It also strives to shorten the distance between people through the use of communications technology, ad well as to enhance the security and management of information. Situational AnalysisSWOT AnalysisA SWOT analysis is a valuable tool since it helps to analyse the internal and external environment of a business. Ashil, Frederikson, Davies (2014) say that this tool can help a manager to establish the success and failures of the firm, and as well as to understand the challenges that are facing the operations of the company. This section will conduct a comprehensive SWOT analysis of HCT mobile company, in order to determine that factors that affect its internal and external environment.Strengths * Cu stomer LoyaltyAhuja Medury (2012) defines customer loyalty as a consistent emotional attachment that consumers show towards a given product. Over the years, HTC has managed to attract and retain a broad customer base, which have since remained loyal to this product. In this case, the company should only focus on marketing to new products, and works out strategies that will ensure that the prevailing consumers remain loyal. This has been achieved by delivering top-notch products to the consumer and setting up efficient customer centres in different cities. These customers who are loyal can also be used as marketing platforms by creating marketing rhymes, as explained by Even, Shankaranarayanan, Berger (2010). * Pioneering InnovationsHTC is known for its unique style and creative devices. HTC has come up with more than one outstanding innovation that has placed it on top of many well-known smart phones. The first personal data assistant in the world was developed by this company in the year 1997. In 2007, the firm fascinated the market when it displayed the worldà ¢Ã¢â€š ¬s first 3D touch-screen smart phone. Eltantawy (2015) reveals that in 2009, another model, the HTC Sense, was launched with the objectives of meeting user habits and giving consumers a new intelligent experience with the phone. Later, they produced HTC Hero, which propelled them to winning a 2011 award for the best smart phone designer. * International PresenceTorabi (2013) argues that operating business from one country can be tricky, and risky since the entire firms become exposed to political and economic risks that may arise in that nation. In this case, multinational companies are advantageous since they are not subjected to policies and rules from a single environment. HTC, being an international company, is not an exception of these advantages. An international presence also gives this company a chance to sell many products and hence enjoy the benefits of scale. * High Growth RateMany people did not know HTC before the year 2007. However, as Dominici, (2012) explains, the company has expanded at a fast rate in the recent years, and it now sells its products in many countries across the globe. The Bloomberg business review indicates that the company experienced a $1.5 billion upsurge in their last quarter sales for the year 2014. HTC recorded an operating profit of close to $200 million, unlike the $30 million that had been projected by analysts. It is foreseen that that HTC will continue to grow at tremendous rates in the year 2015, as it plans to launch new smart phone models into the market.Weaknesses * High PricesAccording to El-Gohary (2011) price is one of the most important factors that consumers consider while making decisions to purchase a product. As much as people may desire to buy a certain product, they are always restricted by their budget. Many HTC products are usually sold at a higher price compared to similar phones from companies like Samsung or Huawei. The company has not shown any indication that it may lower the prices for its phones; it keeps producing good but expensive phones, which are out of the reach of many potential consumers. They should consider manufacturing low-cost products for lowly and middle-income consumers. * Limited AdvertisingAdvertising is an essential part of any business, as described by Baldus, Voorhees, Calantone (2015) since it is one of the best and most effective methods for communicating to consumers about your products and services. HTC has invested a lot of money in innovation and production of unique and high-performing products, yet it has given very little focus on product advertising. This makes it hard to recruit new consumers since the potential market does not have enough information about HTC mobile phones.Opportunities * International MarketThe world is steadily opening up to one large market, where businessmen and consumers can move freely. This is an opportunity for HCT to expa nd strategically to different friendly nations across the universe. Many countries in parts of Africa and Asia are opening up for business. The international community is also campaigning against strict and unfavourable business policies and regulations that hinder international business. This firm can expand strategically in nations that are opening up, and increase its customers, which will eventually translate to higher revenues. * Demand for Innovative ProductsThe need forÂunique and innovative products among consumers of mobile phones is rising speedily. Doligalski et al., (2015) reveals that modern day smartphone customers are more interested in the innovativeness and creativity of mobile phones as opposed to the traditional customers who were only concerned with a few utility functions. This company can take advantage of this and produce products that will appeal to this market niche before other competing companies spot the opportunity.Threats * Price WarsAs more compani es infiltrate into the smartphone market, it is increasingly becoming hard to attract consumers. Companies have resorted to using price wars as a method of luring potential consumers into buying their products. HTC smartphones are highly priced, as compared to many other brands from the same industry. * Speed of Technological AdvancementPuccinelli, Wilcox, Grewal (2015) reveal that the world has never witnessed a fast technological evolution like what is currently being seen in the world. Consumers needs are expanding speedily too, and firms have to keep up with this speed. As much as new technology is advantageous, companies find it expensive to keep updating their systems. HTC has to replace and find new machinery to be able to deliver products with the latest technology. This also creates the threat of having an enormous amount of dead stock when consumers shift their technological needs when the company still has a large number of unsold products. * CompetitionHTC faces signifi cant competition from mobile phone giants like Apple, Samsung, Huawei, and other companies like Techno mobile that are starting to gain popularity in the industry. Dominici (2012) reveals that attracting Apple consumers is one of the trickiest challenges that face HTC; while, on the other hand, Apple has positioned itself strategically to win over the minds of most smartphone lovers, especially the young generations.Marketing Strategic Plan SegmentationEltantawy (2015) says that a marketing technique cannot be useful in buyers from all markets. Segmentation helps to ensure that each market is classified depending on the segments that will appeal to it, in order to develop a good relationship with potential customers. According to Torabi (2013), markets can be segmented geographically, demographically, based on psychographics, or according to behaviour. The market for HTC M9 will be divided ba...