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You are here: UK Essays Essays Marketing The Strategic Marketing Management Of Vodafone Marketing Essay
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Vodafones strategy:
Vodafones strategy is that to give satisfaction to the customer by the utilization of advanced technology and product led to the its purpose the company is continually developing new products.
Marketing strategy:
Marketing strategy plays a vital role in the development of corporate strategy which has directly concerned to fulfil customers demand and wants and efficiently meeting their requirements. Marketing strategy is also help full in the development of business. chp_marketing_strategy_1
In start Vodafone feels that it is not about the new technology, it was about the new application of existing technology. At the first task, Vodafone won 1m from the financial deepening challenging fund. There are different services available to M-PESA like making loan repayments, making payments from authorised agent and also cash withdrawal as well. Growth of telecommunication brings positive benefit for wider economy development. It increases efficiency of trade at micro level, specifically in the rural areas. More stable economy is helpful to bring benefits for long term business of Vodafone.
For the effective marketing strategy organization has to give focus on the complaints departments which are more helpful to improve the business. Through this organization also came to know either we are following the right marketing strategy.
Customer hotline:
Customer hotlines means through using the internet and telephone. On the organisation specific website customer can give feedback, do complaints and many other option are there. This also a best way to know about the condition of the effective marketing strategy. PORTFOLIO is the Collection of Products, Services, or Brands that are offered for sale by a company. PORTFOLIO MODEL means a company's strategy for allocating different organization resources between various units of business. Product portfolio is the best example of portfolio model. In building up a product portfolio model a company can use different analytical methods and techniques including. B.C.G. Boston Consulting Group-Analysis Contribution Margin Analysis GE General Electric. Multi Factorial Analysis B.C.G. Analysis is a 1st method used in Brand marketing, Product management and Strategic management to help a company decide what products to add to its product portfolio. Products rating includes in it according to their relative Market Share and Market Growth rate. The products are then planed on a two dimensional map. Products with high market share but with low growth rate are referred to as "cash cows". Products with high market share and high growth rate are referred to as "stars". Products with low market share and also with low growth rate in market are referred to as "dogs". Products with low market share and high market growth rate are referred to as "question marks" or "problem children".
BCG Matrix
BCG Matrix Each circle shows a product or brand. The size of the circle shows the value of the sales of that specific product. A "question mark" shows that product has the potential to become a "star" in the future if it is developed. Balance portfolio is the best for any organization or business. There should be at least one "cash cow" which can generate maximum revenue and results develop one or more "question mark". BCG Matrix with Cash Flows BCG Matrix with Cash Flows, B.C.G. Analysis was originally developed at the Boston Consulting Group by Bruce Henderson n the early 1970s. G.E. Multi Factorial Analysis is 2nd method or technique used in brand marketing and product management to help an organization what types of product(s) to add to its product portfolio. One dimension includes nine industry attractiveness measures and other comprises includes twelve internal business strength measures. Contribution Margin Analysis is a 3rd method or technique used in brand marketing and product management to help an organization what types of product(s) to add to its product portfolio. Calculations includes additional revenues, additional costs, effects on other products in the portfolio (referred to as cannibalization), and competitors' reactions.
Marketing mix:
A long term planning is helpful to make effective strategy which will take towards the successful marketing strategy. Marketing mix includes four Ps. Product Price Place
Promotion
Product:
a product provide different facilities like to chat with others, play games, exchange ring tomes, sending and receiving pictures, capturing pictures and making video call, send up to date news about weather and news as well and there are many other services as well. Vodafone give live information the every move and up to date service as well.
Price:
Vodafone wants to extend their business as much as they can to the youngsters, mature persons, executives, professional people and to also to the senior citizen. Vodafones have different price package which is suitable to the every age group of customers and these different packages are added value which fulfill the requirement of the customers. Vodafone is offering monthly price plan package and also pay as you go package. Vodafone has provided online top up facility as well. Vodafone also giving NECTER benefiting by using the text messages, sending picture and many other things as well.
Place:
There are more than three hundred stores in the UK which is beneficial for the customer for the easy accessibility. Vodafone also sell their mobile phones and also independent to the other retailers like car phone ware house. Customer can come to the stores and check out their favorite mobiles and deals which is reasonable for them. Due to easy accessibility, customers are able to see and handle the products as they are purchasing the different products. In the different stores, there are well experienced customer service representatives are required which explained each and every thing to the customers and also give information about the coming new mobiles and the new packages. Through this way customer can be satisfy.
Promotion:
Vodafone have connection and communication with the famous icons like David Becham which increase its value. Best ways of promotions which is adopted by the Vodafone is
adverting on TV, billboards, magazines, media out lets and also on the internet which has helped effectively and promoted Vodafone successfully. This is known as above the line promotion. Below the line promotion is to offer different package which do promotion of the company and also increase the annually sales of the company by using the attracting sales posters inside the stores to buy. In the marketing mix, promotions include Vodafones stores, staff and its different offer which increase its brand image. Vodafones also have good public relationship in the U.K by using the press release and up to dated articles and by using new source or media. Marketing mix of the Vodafone is the best way to explain about the different price offers which are reasonable foe every one. Promotion of the Vodafone Company gives shape a successful strategy. Different products of the Vodafone are reliable because of their quality and brands. Vodafone stores are located on those place which customers can access easily at the time of need. www.icaew.com/index.cfm/...ga/.../Vodafone.../pdf http://www.thetimes100.co.uk/downloads/vodafone/vodafone_9_full.pdf Need an essay? You can buy essay help from us today!
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