This assessment will cover the following questions:
- Implement the findings in order to create and positioning the brand with the unique selling proposition in the context of Melita.
- Melita is a telecommunication organization. Provide the marketing research skills through searching collecting and interpreting the data in order to form a suitable market plan.
- What are the skills which is required to carry out a comprehensive marketing audit and evaluate the threats and opportunities in the industry?
Marketing management is a process that analysis market opportunities as well as also evaluate all the potential threat in the market and based on the critical review about both the factors strength and weaknesses a suitable marketing strategy is drafted and manage under the marketing management. In this report Melita is taken as an organization. Melita is a telecommunication organization based in Malta established in the year 1997. Headquarter of the Melita Is located in Malta. Harald Rosch is the CEO of Melita. Melita initiated the culture of high definition television in Malta. This report specifies about the market positioning. This report also focuses over unique selling proposition related to the corporate organization. A marketing audit is also reported to analyse about the market growth of the company. Valid specification has also reported regarding the strength and weakness attached to the new product call Tele Buds based on the 4P factor.
1. Background Statement
Malta's telecom sector is the most advanced in Europe. It has high mobile and broadband incursion rate. The sector is very well regulated and measures are designed to reduce prices and increases competition. The broadband market is dominated by Melita and Go and the mobile market is dominated by Melita Mobile, Vodafone Malta and Go mobile. The strategies are put in place on infrastructure to develop e-commerce opportunities.
Melita Limited is a Telecom service provider in Birkirkara, Malta. It was started in 1992 and today it has set a benchmark for digital technologies (Archer, 2018). It provides services in more than 75% of Maltese households. It provides solution to businesses, powerful internet services and mobile network. Melita has provided 4.5G mobile network to all its customers. It's 5G network connectivity is also ready (Shahriarpour and Tabriz, 2017). The purpose of the organization is to provide high end security, cloud service and better connectivity.
SEGMENTATION TARGETING AND POSITIONING
- Segmentation: It refers to dividing the market into small groups based on the needs. Melita has targeted youth, businesses and professionals for its new product telebuds.
- Targeting: It refers to the methods to be used to target the selected groups. Melita limited will be using social media marketing practices to target its customer group.
- Positioning: It refers to positioning the product in the market which can be done effectively by conducting a competitive analysis.
Porter's Five Forces framework is used in determining and evaluating the competitive strength and market positioning of the organization. A detailed analysis is carried out below.
Threat of new entrants: This force determines barriers and restriction that a company may face to enter a new market. If the market is profitable and attractive with less or no barriers then it increases the chances of threat of new entrants (David, David and David, 2017). By attaining high level of efficiency Melita can make it competitive for new entrants to enter the market. Malta's demographic characteristics makes it attractive for new competitors. Also, the offers and benefits given by Melita is very attractive and grabs customers towards it and has strong customer loyalty. Overall, the threat of new entrant is very less.
Threat of competitive rivalry: This factor is the major determinant of competition and profitability. In a competitive industry, organizations compete aggressively to increase the market share (Blankson, 2016). Malta has very small number of service providers so the competition is mainly based on quality, price and innovation. Advancement in technology can help organizations in facing competition by charging higher price for better quality till competitors follow them. Melita Limited has used this technology to attract new customers towards its product and services. The major competitor of Melita Limited is Go plc which gives tough competition to Melita Limited.
Bargaining power of suppliers: It refers to the drive that makes it easy for the suppliers to charge higher prices. A supplier is at strong position when number of suppliers are less in the market, if products or service provided is unique and not available easily with others. The major supplier of Melita is infrastructure and maintenance supplier which are the core part of the organization (Wang and et.al.,., 2019). The bargaining power of suppliers is very high as lower quality, higher prices and any delay on the part of suppliers may result in loss of revenue and customer base. So, Melita has to negotiate carefully with the suppliers as it may cost huge loss if not taken care.
Bargaining power of buyers: This power depends upon number of buyers in the market, importance of each buyer and switching cost to buyer from one supplier to another. The bargaining power of buyers is moderate as competition in this industry is limited due to geographic constraints and also there is minor product differentiation. In Malta, firms have to compete for wining customers as well as not to lose any of its customers (Achrol, R.S. and Kotler, 2017). So, Melita Limited offers variety of offers to its customers to so that customers do not switch to other competitors.
Threat of substitute products: This force is threatening when close substitutes of the products are available to the buyers and that too with less price (Peattie, 2016). This reduces the bargaining power of suppliers and market attractiveness. This mainly happens when company fails to attract customer with its products and customers switches to other companies. Melita comes up with number of options to the customers that makes it difficult for customers to switch.
Present Unique Selling Proposition(USP) of the company
The USP of Melita Limited is its wide range of product and services which sets it apart from its competitors (Illiashenko and Strielkowski, 2016). It services includes flexi bundle services, different types of internet services such as fibre power 30, fibre power 100, Melita Wi-Fi. It also provides television services like Melita TV, on demand, TV channel line up, sports schedule etc. It provides different types of mobile plans such as postpaid plans, hybrid plans, discover 4.5G plan, mobile phones, international rates, roaming etc. It's USP is relevant for its new tele bud product.
Marketing Audit is a review analysis of various factors attached in framing the marketing strategies of Melita. Such factors will assess various external and internal factors associated with the company in telecommunication market.
External Marketing Audit
External marketing audit will review and analyse various external factors. All such external factors play the crucial role in framing marketing strategies of the company.
Political Factors Analysis: Telecommunication is one of the fastest growing sector because of the increasing demand of telecommunication channels across the globe (Hunt, 2018). Government of Malta framed various policies such as advancement of fibre optic cable, implementation of 5G network across the Malta to improve the telecommunication network in the country and also to improve the internet connectivity. Increasing need and demand of the sector also attracted to the government of Malta to launch various policies such as tax deductions to telecommunication companies and easy licensing policy that enabled the management of Melit to take various political advantage by an efficient marketing strategies (Thakur and Workman, 2016). Government support created a smooth business environment in telecommunication sector that also resulted into increasing demand of various telecommunication products and services such as broadband services that guided the marketing strategies of Melita to improve the consumer base by giving various attractive offers. The management of Melita has utilized all the potential marketing platforms such as television, radio and social media to improve the consumer base of the company. Demand of telecommunication sector has recently increases so many times the governmental policies don't guide to companies towards the implementation that sometimes created the extra hurdle for the management of Melita and it will identify the growth opportunities for the company based on the market competitiveness of Melita.
Economical Factor Analysis: Economical environment of Malta also support the marketing strategies of the Melita Limited. Economy of Malta drives the government to launch various policies to improve the telecommunication network in the country. The proper utilization of telecommunication channels create various opportunities for industry development and growth in the country (Yang and Gabrielsson, 2017). The marketing strategies of Melita looks sufficient enough to project all the needs related to the economical factor in all its marketing campaigns that improved the customer base of the company. Economical factors provided various growth opportunities to the company management with the help of effective marketing strategies but many time it also impacted negatively the business opportunities of the Melita. The major demerit the marketing strategies faced was because of the inflation rate in the Malta. Inflation resulted into increased product prices that put an impact over company's sales. Inflation also improved the marketing cost of the company that created extra burden over products selling price. The government of Malta has also improved various taxes attached with the telecommunication sales that also resulted into increased products cost for the company (Barbu, Buzoianu and Margina, 2017). Various advantages of economical factors has improved the branding of the Melita with the help of marketing campaigns but demerits attached to the economical factors has also impacted the sales of the company that resulted into insufficient marketing advantages. Apart from inflation and the policies of Malta government such as 5G policy that provided a huge growth opportunities to the Melita Limited. The company management is assuring a lower cost or cheaper data network services will enable the company management to take competitive advantage in the telecommunication market of Malta.
Social Factor Analysis: Social factors are one of the dominating factors that impacts the marketing strategies of the companies. Social factors involve the dimensions attached to the population in Malta. Malta's population is well diversified as the people lives in both village and cities that also impact the marketing strategies of the companies. Marketing campaign of Melita Limited is implemented in such as way that enables the company management to take competitive advantage's from the potential consumer base based in both city and villages (Balmer and Yen, 2017). To entertain the rural region is a tough task as compare to the consumer's based in urban part. The marketing strategies of the Melita Limited look sufficient for the urban consumer's but the sales figures of the company depicts that the marketing strategies of the company look not sufficient to convenience the rural consumer's as the company has witnessed the decreasing sales trend in rural part of Malta. The cost affordability is also a reason for the Melita Lrmited specially fo the consumer's based in rural part that also impacted the company's performance in rural part. Income structure of consumer's based in rural part of Malta is probably one of the reason behind such declining market performance in rural part that impacted the company's performance and also influenced the competitive advantage of the company in the rural market as other company's offered better services.
Technological Factors Analysis: The emerging need of technology has increased the market base for the telecommunication products. The marketing strategies of the Melita Limited looks well efficient to project all the emerging needs and demands of technology in both corporate sector or for the general public that improved the market base for the company. The management of the Melita Limited has tried to utilise all the technological mediums to project all the services attached to the various packages of the company that enabled the company to improve the market share and also to take competitive advantages in the form of increased sales with the effective use of marketing campaign of the company. Marketing campaigns of Melita Limited involve social media marketing and various advertisements over internet that positively impacted the success of marketing campaign of the company (Mensah and et.al., 2017). The youth oriented campaigns with the proper use of various marketing channels over internet social media, youtube and internet the company management could sunesfully addressed the young consumer's of Malta by efficiently convey various benefits attached with the services of company such as faster and smoother network, faster speed, resolving faster compliance issues and cost affordability factor that enabled the company management to improve the market share specifically of urban part as the people out there are much more aware and lean towards technology and social media but in rural part the company management could not effectively addressed the need of the consumer's. Inappropriate advertisements over rural part influenced the market performance of the company as the other competitors could address the demand of the rural consumer's in more effective way that also resulted into decreased market share.
Legal Factor Analysis: Legal factors involve governmental laws and policies regarding telecommunication sector. In the recent years the government of Malta has supported and took various steps to improve the telecommunication base in the country. Various benefits attached with the governmental policies such as tax benefits that improved the sales outcomes of the company as the company management could provide more affordable cutomer services to the people of Malta. Lower cost enabled the company management to take competitive advantages in the telecommunication market of Malta. Cost affordability aspect of the Melita Limited could also attract new customer's towards the telecommunication market. Apart from several positive aspects of political factors such as tax benefits various negative factors also impacted the competitive advantage of the Melita Limited in the telecommunication market of Malta. As the government also approached to MNCs to conduct the business operations in Malta for the growth of telecommunication sector in the country that resulted into increased competition in the market. The management of the Melita Limited has tried to take advantage of all the legal factors to improve the marketing efficiencies of the company but it not look well diversified as compare to other multinational companies in Malta.
Environment Factors Analysis: In the recent few years the awareness in the people of Malta towards environment protection has increased. The marketing strategies of the Melita Limited look well efficient to justify the need of telecommunication products in the context of environment friendly products. The management of the Melita Limited has also involved in various environment protection campaigns as a part of various marketing strategies of the company that also improved the market presence of the company. Marketing strategies related to the social cause enabled the company management to earn trust of the potential customer's.
Internal Marketing Audit
Internal audit of marketing strategies involved various internal aspects related to the company attached to the telecommunication market that can be specifies as follows.
Strength of Marketing Strategies: The marketing strategies of the Melita Limited has impacted efficiently the brand image of the company that also resulted into increased market share for the Melita Limited in the telecommunication sector (Jaworski, 2018). The proper utilization of resources that also depicted into effective use of marketing channels for company's promotion's could register its presence not just in urban part of the country but also in the rural market. The organization structure of the company is also a well dynamic and creative that allows company management to launch unique and new products based on the consumer's demand as the management of Melita Lrmited is currently launching new product call Tele Buds that becomes big strength for the company. Effective and optimum utilization of human and financial resources provided the major strength to the company.
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Weaknesses:Several demerits of the Melita Limited that influenced the market performance of the company. The company could attract the young generations with its marketing strategies related to the digital channels but the company could not attracted to the old age people that states that the market segmentation and targetting strategies of the company is not appropriate. The marketing campaigns of the company is also look unclear as the campaigns also don't focus to a particular target group. Corporate sector has the huge market potential but the management of the Melita Limited is not specifically focusing over corporate consumer base with no specific product launch for corporate consumer's.
Opportunities: Telecommunication is among the major fastest growing sector across the globe that provide major growth opportunities to all the business organizations work in telecommunication sector. Analytical analysis of the telecommunication sector has depicted that the Melita Limited has a potential consumer base in the telecommunication market of Malta but the company can move towards the international market. The company management can even work towards launching of new products and services to improve the consumer efficiencies related to the telecommunication this will also improve the existing market share of the company with the help of strong and dynamic marketing plan. The company management can also use the proper market segmentation and targeting strategies that will positively improve the market positioning of all the existing products of the company in the market. Well efficient market positioning strategies will enable the company management to take more competitive advantage in the current market. The company management can utilize its well diversified human resources to implement the business strategies for market expansion and the optimum utilization of financial resources will aid to the market presence of the company in the new market.
Threat: Competition in the market is always a big threat to the corporate entities. Specifically the competition from the big groups and corporate body's that immensely affect the target market for the company. Big groups carry the big operational budget that provide huge advantage to such groups to implement all the operational activities effective (Lichtenthal, Tzempelikos, and Tellefsen, 2018). Big operational budgets of the big companies provide luxury to utilize all the major channel that can easily attract to the target consumer base of Melita Limited. Telecommunication is among the rare sector where every day new technologies are introducing by the big companies that create extra pressure on the domestic and small companies such as Melta Limited to improve and upgrade the existing technologies in case to sustain in the market. With the increased focus over launching of new products and also to upgrade the existing services the company management can restrict the threat of new entrants and increased market competition from the new and existing corporates.
Potential Market Growth: Increased product demands and use of telecommunication products not just for the general people but also for the sector has resulted into increased dependency over telecommunication. Specially in the corporate sector telecommunication becomes a crucial part of all the operational aspects of the company that resulted into a huge dependency over telecommunication products. Improved dependency over telecommunication products has provided immense growth opportunities to all the telecommunication companies. Potential marketing strategies also play the crucial role as the company can project all its products in such a way to provide ease for operational activities of the company's that also became one of the reason behind such a potential growth of telecommunication sector. The management of Melta Limited can also explore the international market to catch more customer's for company's products. Internationalization of business play the key role in creating immense growth opportunities to the companies.
This chart specifically defies the growth of telecommunication sector across the globe. The management of Melita Limited can channelize more aggressive marketing campaigns to improve the growth potential of the company.
4 Ps of New Product
The management of Melita Limited has proposed a new product call Tele Buds. Tele Buds will improve the consumer experience of Melta Limited by providing an experience of wire less earphones.
Product: The management of Melta Limited is launching this new product call Tele Buds. Tele Buds is a unique product that will give a high quality experience of ear phones to all the consumer's. Tele Buds is a wireless ear phone brand that will enable to all the users to experience all the videos and songs with high quality sound quality (TANG, GU and TAN, 2019). Tele Buds will have an access of Bluetooth connectivity to connect from the various devices such as mobile phones, computer, laptop and music systems. With the increased market demands of wireless earphones this will help the management of the Melita Limited to improve the market share of the company. The company management is also assuring a long term life cycle of Tele Buds as compare to other competitors in the market by giving a warranty assurance of 4 years that will enable the company management to take competitive advantage in the telecommunication market. The company is offering various features to improve the consumer experience.
Features of Tele buds:
- Wireless earphone experience
- Noise cancellation
- High quality sound
- Breathable earplugs while work out
- Water Resistant
- Scratch Resistant
- Bluetooth connectivity
- Wi-Fi Connectivity
- Auto call cancellation
The management of Melita Limited is trying to improve the ear phoning experience of all the potential consumer's of the company by offering all such features. The marketing campaign attached to the new product Tele Buds will immensely help the company to face the threat related to the competition as this product will enable the company to build a unique brand image of Melita Limited as the company is offering a quality product at the most affordable price range.
Price: The price of the new product Tele Buds will be € 50 Euro. The management of the Melita Limited is setting this price to take all the competitive advantage in the telecommunication market as this price for the Tele Buds is relatively lower as compare to other competitors in the market. The company is also offering a warranty period of 4 years that will also impact the potential market for the new product (Verhoef, Kooge and Walk, 2016). The management of Melita Limited is also aiming to provide the affordable EMI facility to all the consumer's. Facility of affordable EMI will enable the management of the company towards extra attention in the market. The company is planning to engage with all the young buyer's by giving facility of affordable EMIs. Affordable price range and easy EMI facility will give the major boost to the new product of the company in the market. The price range of the new product will address the threat related to the competition in the market.
Promotion: Promotion play the major role behind the product success. The management of the Melita Limited is planning to channelize the promotional campaign for the new product Tele Buds at all effective marketing channel. Various marketing strategies such as social media marketing, radio marketing, television marketing and social marketing will enable the company management to reach all the target consumer's for the new product. The company management has segregated the entire promotional campaign in such a way that it can reach to all the target customer segment effectively with the proper projection of all the marketing strategies. The management of Melita has already conducted all the market segmentation and targeting process so it can effectively position this new product with the proper use of all the framed marketing strategies. The marketing and promotional campaign related to the new product will project all the features and luxuries attached to the new product line in front of all the target consumer's. The company management will also target to bring the new customer base for the new product with the help of marketing strategies to improve the market share of the company in the telecommunication sector of Malta. Promotional campaign for the new product will also target the international consumer base as the company is offering the wire less earphone at a very affordable price range so the promotional campaign will also be able to attract the internal market with the help of potential marketing strategies.
Place: Place related to the product sale play the crucial role in framing the marketing strategies related to the product. All the marketing strategies are framed based on the place of sale related to the product. The management of the Melita Limited is planning to reach various channels such as internet, radio, television, social media and other social channels to drive the marketing campaign for the Tele Buds. The company management is also aiming to provide various luxuries such as discount offers, gift cards and exchange offers to reach more consumer's over internet and other sales platforms (Wojciech, 2017). This new product of Melita Limited will also be available at various stores across the Malta to reach all the potential consumer base for the new product. As per the market research and analysis social media will play the dominating tool behind the product success of the new product Tele Buds as the target customer base for the new product is all the young telecommunication enthusiasts and with the help of effective social media marketing the company management is aiming to take advantage with the proper marketing campaign over social media.
The effective use of 4Ps will enable the management of Melita Limited to get the huge product success related to the new product launch with the effective use of all the marketing channels.
This report concluded about different aspects of the industry and its impact over company's performance in the market. In this report a precise description has also been concluded to analysis about the market positioning of the company. All the impacts of market positioning over product performance and company's brand image has been concluded in this report. This report also conclude about the unique selling proposition and how the unique selling proposition put a impact over a brand image of the company and also over the product performance in the target market of the company. Various aspects of the marketing audit has been concluded in this report. This report precisely concluded about how the different factors attached to the marketing audit such as internal and external over the company's performance in the market. This report also conclude about how and what impact all the internal and external factors put over company's growth potentials in the target market. A proper utilization of the 4 P model has also concluded in this report. This report precisely concluded about different factors of 4p impact the marketing campaign of the company. If you are Looking for the Assignment Help services in UK contact Instant Assignment Help, We offer all types of Assignment help services for UK students.We have the best writer who can solve all your educational problems at a reasonable price.
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