Unit 1 DB 2
UNIT 1 BD 2; Marketing Plan
Which of the environmental factors do you feel is the most critical, and why?
The most important environmental factor for Mobile Manufacturing Inc. is economic, demographic, and technological. The demographic is important because it highlights the segment, which the company focuses on increasing its market share. Furrer (2016) pointed out that demographic is a specific group or market segment, which the company focuses on building its customer loyalty and brand. However, MM should focus on clients aged between 22 years to 45 years, earning income or in college and both male and female. Since, the market is very competitive, focusing on this demographic would allow the company to make high sales within a short period. Technology is also an aspect or factor, which should be considered in marketing CITATION Oli16 \l 1033 (Furrer, 2016). The invention of advanced technology has changed how marketing and done and perception of clients and therefore, with advanced technology, the company would be able to present products to customers. Technology is important in presenting products and production of products and with high technology a company can be able to have efficient production and marketing. In the case of MM, technology would facilitate the promotion of products to customers. MM would have an online sales platform or retain where clients can make a direct purchase of products. The economic factors of the market should also be considered. It is because the economic status determines the purchasing power of clients and therefore, it would be important to analyze and understand the economic factors.
What might someone with an opposing viewpoint think is the most important?
The opposing view which is important for the development of this marketing plan is the focus on the market. The focus on the global market should focus on cultural issues. The company sells mobiles and cultural issues rarely affect its market share. However, it is important to focus on culturally related issues at the production and promotion. In some cases, international firms have used words, or marketing strategies, which is provocative to the local. Therefore, the issue of culture cannot be ignored and should be factored in at every stage of product development and marketing. The opposing of cultural aspect as part of key aspect in the development of marketing plan is essential and I think it would be important to have a broad strategy, which includes the cultural, economics, technology and demographics in building the best marketing strategy for the company.
It would be important to have a well elaborate plan and therefore, the opposing view of leaving out cultural aspect out of the key plan is a better argument. Have a comprehensive marketing strategy would give the company a variety of option and a proper understanding of the market. Though the cultural aspect should not be the main focus of the marketing plan it should be captured effectively. It ensures that the company understands what customers need CITATION Pet14 \l 1033 (Patterson, 2014). The political aspect should also be considered in deriving a good strategy. Though many people argue that it is the least concern in regard to marketing, I believe Mobile Manufacturing Company should adopt the strategy to handle any political situation, which might emerge. The sense of ownership would help the company to create customer loyalty and increase market share faster. Therefore, it is important for the company to use local content and allow the drafter of the marketing plan to the key role in the implementation. This would give the drafter and the local customers the sense of ownership of the marketing plan and the brand as well.
It would be recommendable for the board to work with stakeholders and partners in the foreign market to enhance the presence of the company. The marketing strategy should be based on the aspect of an international market after taking a series of market analysis. This is likely o allow the company to understand the market hence use relevant marketing strategy, which can create impact. The best recommendation is to conduct market assessment and apply the digital marketing strategies since the demography targeted by the company is access to the internet and other media sources.
BIBLIOGRAPHY Furrer, O. (2016). Marketing Strategies. https://www.researchgate.net/publication/230743793_Marketing_Strategies, 2-18.
Patterson, P. (2014). Developing Marketing Strategies for Enhancing the Use of Solar Energy Products. http://shodhganga.inflibnet.ac.in/bitstream/10603/77658/13/13_chapter5.pdf, 2-14.
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