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12274 Downloads 13 Pages 3357 Words
Marketing planning refers to making plan or strategies in the organisation to give tough competition to other rivals and achieve its objectives and goals. In this report the selected blue chip organisation is Vodafone Group (Aaker, 2011). It is a British multinational telecommunication company and it’s headquarter is in London. It is a worldwide company with millions of subscribers and it is listed in London Stock Exchange. Company operates in a perfect competition market and it is a public limited company. Vodafone main aim and core values are to give quality and personalised service to its users. Its main operation is in global market and serves users worldwide. The financial position of the organisation is strong and has more assets over liabilities.
Changing perspectives in marketing planning involves change in different concepts like production concept, product concept and later when the product is ready change in selling and marketing concept to launch the product in the market. Change in Production concept means that company introduces innovative technology to produce the product. It means that in manufacturing of the product change has been led down so that something new can come up (Avlonitis and Indounas, 2006). It leads to change in product concept and modifying the range of products so that customers can have a wide variety and choice. Alteration in product concept has to be unique so that it helps Vodafone to bring a change in the market.
Change perspective in selling concept states that company brings new and varied concept of selling the product in the market. It refers to intending customers to buy their products and they should offer quality products from other competitors. Selling is all together different concept from marketing (Doole and Lowe, 2005). In selling product is sold to customers and earn profits but in marketing concept the needs of customers are fulfilled and make them satisfied. Change in marketing concept has been made wider like different ways has been introduced by company like online marketing of products and making a larger customer base.
Different types of marketing concept are as follows-
Social marketing concept- It focuses on welfare of customer satisfaction and society. Here, mere satisfaction of consumers will not help but they need to satisfy the needs of society as well (Mofatt, 2014).
Product concept- It states that if the quality of the product is of good standard then customers will be automatically satisfied. Therefore, Vodafone uses effective marketing concepts in order to increase the quality of their product.
Selling concept- It means that business should use different ideas to sell the product to ultimate consumers (Avlonitis and Indounas, 2006).
Marketing concept- It is a modern concept which sells the product to consumers and satisfy their needs as well. Company make the product available in the market which the consumers want or desire in order to achieve targets.
Vodafone’s planning for future marketing activity includes its financial, technical capability. Brand recognition or to be well known among customers and at the same time also giving tough competition to other industries.
Financial capability- Vodafone financial capability has to be strong so that it can effectively plan for its future marketing activities (Abraham, 2012). Strong financial position of balance sheet impacts the company to perform its current as well as future marketing activities and gives best results in terms of acquiring larger market share.
Technical capability- Technical capability of the Vodafone has to be increased so that it can have efficient planning for its future marketing activities. Like for instance if the company is planning to launch new technology in future it should have enough technical capability. Business can patent its technology so that no other company can utilise it. It will remain with the company for life time and they will the single owner to utilise it.
Brand recognition- Customers should easily recognise the brand and for that company should plan for future policies and rules (Galliers and Leidner, 2013). Vodafone should be well known from its other competitors and achieve success. For recognising the brand planning should be done for future activities of company. It is a renowned brand in UK therefore many people uses the services of the brand instead of other competitors available in the market offering similar services. Brand provides unique quality se3rvices to their users and also provide effective network wherever people travel.
Loyalty competition and industry- Vodafone has to plan strategies for its future activities so that customers should be loyal to the brand and there should be no tough competition for loyalty. And also in industry among different competitors giving same services there should be no rivalry. So, for that proper planning for its future activities has to be made.
The PESTLE analysis use strategic planning process that helps to evaluate political, economic, social, technological, legal and economic factors of company. Pestle analysis impacts the company in legal factors that it changes the rules and regulations of Vodafone. It means that change in policies by the government impacts the legal conditions of the business. Technological factors influence the business by increasing high technology product in the market. Innovative products or improved technology impacts the business environment of Vodafone (Gomez-Mejia Balkin and Cardy, 2008).
Political factors also influence the regulation of business through change in policies and introducing new import taxes affects the marketing planning.
Political- Company has regulations to operate its business in Mexican markets because of license problems. Vodafone has to take permission from government to enter into market and need to provide high quality service for customers (Kotler, 2003).
Economic- Due to recession in the economy it affects the growth of company because there is change in the policies and people have less money to purchase new sim cards. Whereas, government also charges high cost of new licensing in order to cover more telecom market.
Social factors- As there is change in technology and in order to have high lifestyle company faces problem because of other competitors offering similar services at lower cost.
Technological- Also, new innovations affect the market because of improvement in technology many companies want to enter the market and increase their profitability (Oudan, 2007).
Environment- Business is affected from different environmental laws therefore it needs to safeguard it through using different rules and regulations.
Legal- Company is affected by different consumers filing complaints because of poor network or someone else using fake identity of others (Doole and Lowe, 2005).
SWOT analysis or internal analysis of Vodafone shows that it improves the marketing planning process of company. Through this business should focus on the development of strength and capabilities so that it should have better marketing planning process. Business has to focus on weaknesses of marketing planning and needs to develop it by making effective policies. And also the opportunities and threats have to be defined by the company so to grow in all areas and make effective planning process.
Strengths- It is one of the most popular cellular service providers in the world. Company uses effective marketing strategies to attract clients. Business has international collaboration with different sports events (Ward and Lewandowsko, 2008).
Weaknesses- There are various similar service provider offering services at lower rates. Through this company gets tough competition in market (Aaker, 2011).
Opportunities- It has the opportunity to expand its market in rural areas to achieve success. Company can introduce latest and new technology which other competitors are not offering.
Threats- There are new entrants in the business which offers low cost product (Michman, 2006).
Porter’s five forces model analysis plays an effective role in making strategic planning decisions for business.
Bargaining power of buyers- The power of buyers is low because due to large coverage of market share. Also availability of various products and services by the company.
Bargaining power of suppliers- It means that suppliers of Vodafone are very efficient and they have good and long term relationship with company (Kotler, 2003).
Threats of new entrants- It is relatively low because entry in mobile market needs high investment.
Threats of substitutes- Threat of substitute are high because consumers have alternative options available. They can choose different service providers which can fulfil or satisfy their needs.
Availability of rivalry- It means that competition or availability of rivalry for Vodafone is high in the market.
There are different available barriers that impact the marketing planning of Vodafone.
Culture- It has been noticed that culture of Vodafone impacts its employees by change in policies or environmental differences in company’s culture. It reflects in the satisfaction level of employees negatively and they did not get satisfied from varied culture (Oudan, 2007).
Power and politics- From the work experience could state that there is no power and politics that exists in company.
Analysis, not action- As being an employee it was analysed that in Vodafone analysis has been done of the work based problems and not sufficient action has been taken by the management.
Resource issues- The resource issues factors like financial resources proves to be the barrier in Vodafone, as noticed that proper resources are not available when required by the business (Paswan and et. al., 2011).
Competitors- It has a negative impact on the company’s marketing planning. The main competition company is facing is from British Telecom and there is high level of competition available in the business.
Communication barriers- This was noticed that there is lack of communication of rules and policies among employees and company. What the Company delivers to its employees is not effectively understood by them due to gap of communication (Rust and Verhoef, 2005).
Poor leadership- Poor leadership was found in making the marketing plan by company. There were no leaders who can take effective steps to successfully implement the plan.
Skills- The skills of different employees differ from each other and it helps in making effective marketing plan for Vodafone.
Customer expectations- Organisation is trying to meet the customer expectations by providing them various services so that it can lead the market better from other competitors (Trainor and et.al., 2013).
In the need to overcome all such barriers Vodafone has to make the marketing planning effective and efficient. It means that organisation has to choose varied policies and principles so that it can effectively overcome all the barriers. Business has to give proper training to its all employees’ so that they can overcome the barriers analysed in the organisation (Ward and Lewandowsko, 2008). The size of the organisation affects delivering proper communication to employees and proves to be barrier in understanding the things that has been delivered to them. To overcome such problem
Vodafone should divide the employees in teams and then communicate proper instructions to them.
The geographical location also hinders the communication between employees and company. To overcome from such barriers proper decision has to be made of location and then collectively communicate with all of them to have effectiveness in work.
The techniques for new product development can be using BCG matrix and Ansof matrix-
Cash cows- Cash cows states that new product development of Vodafone that is 4G service will have high dominant position in the market. New product which is 4G service best fits into cash cows because here new product development is done.
Stars- Through star product means that it can develop or grow fast in the competitive market and it can be profitable for Vodafone to develop new product.
Question marks- Refers to low market share and it can make the product non profitable for that time period. It will require suitable changes in the product to improve its market position (Szwarc, 2005).
Dogs- It refers to worst situation of the product in the market with no growth of the new product of Vodafone.
Market penetration- Penetration means that Vodafone has to develop the existing product within the existing market only (Thomas and et.al., 2008). By increasing in promotional activity company can expand its new product 4G into different market.
Product development- It gives an positive impact on the company by introducing new product in the existing market and satisfying the customers.
Market extension- Extending the current market into new market with the same product can help Vodafone increase its profits and expand its market.
Diversification- It helps in diversifying or develops new 4G service of Vodafone in the new market.
The factors that affect the effective implementation of the marketing plan and that faces various barriers in implementation of the service and how that can be overcome (Nwokah and Ahiauzu, 2009). It can effectively overcome through measuring the performance like financial position of Vodafone. It should also show that the product is different from any other available product in the market.
Ethical issues influence the marketing planning of Vodafone so that it should have reputation of the brand in the market. The company should not practice unethical issues in the business which hinders the brand image of the company (Prasad, 2010). For example during world cup Adidas was involved in gambling or fixing the matches which is an unethical issue or practice in the organisation. It was highlighted by the media so much and it affects the brand image of the company.
So, for instance Vodafone should not practice unethical issue in the business and carry the business efficiently. If it follows ethical issues the working of the organisation will be effective and it will not hinder the marketing planning process. It develops a brand image in the mind of customers through good working environment (Yan, 2009). It will create good image in media and it will promote the company so that ethical issues needs to be fulfilled. If the company fails in adopting ethical issues in the business it will affect the marketing planning of the business. Vodafone adopts unethical practice through carrying wrong advertisements and cheating consumers therefore, people should be beware about such unlawful practice and thus they need to take corrective action in order to attain results.
The organisations respond to ethical issues and should try to solve them. Vodafone has to find the issues and also identify the parties which are involved in creating those ethical issues (Flekel, 2014). Proper steps have to be created by company so to make decisions to solve the unethical practices in the company. It means that all positive and negative consequences ha to identify then Vodafone should develop the image in the mind of customers. The individual working in the organisation has to be identified and moral principles have to be judged so that it gives positive impact on the environment of the company. Moral principles have to be imbibed by the organisation into individual so to increase its performance and gives positive impact in working culture of company. Through continuing ethical practice in the business it can create the brand image in the market and expand its market share. When these unethical issues are arising business needs to take proper action otherwise it affect the marketing plan of Vodafone. Company should use effective advertisements and other promotional strategy so that it increases the trust of consumers (Thomas and et.al., 2008). Company can overcome such unethical issues using effective marketing strategies so that results can be achieved.
Unethical issues undertaken by customers also affect the growing of the company and have a bad impact on the marketing planning of the business. Vodafone has to keep an close watch on its customers so that it does not affects the working of the business. There should be proper rules and regulation made for the consumers and if they found guilty of carrying unethical behaviour towards company they should be penalised (Mofatt, 2014). Proper actions has to be taken by the company so that they do not find and fake or false implications carried by the customers towards the image of the company.
Consumer should follow proper ethics and do not use false representation and wrong use of brand names (Cacciolatti and Fearne, 2013). This all unethical practices by the consumers affect the marketing planning process made by Vodafone. Company can found that customers might carry different bad ethical practices like illegal unblocking of phones, buying fake sime on other person identity (Gomez-Mejia, Balkin and Cardy, 2008). Therefore, all such issues need to be overcome by company through adopting different rules and policies so that regulation can be done. Company should restrict their retailers that they should not sell the sim card to anyone with proper identity.
It can be concluded through this report that marketing planning plays an important role in the Vodafone industry. There are perspective changes made by the company in the marketing planning process. Different capabilities have been analysed by the business so that it shows the future marketing planning activity of the company. the different barriers have been analysed which impacts the marketing planning of Vodafone and also different ways to overcome such situations in marketing planning. In order to this a new marketing plan has been drawn which suited the organisation effectively. Consumer ethics has been analysed by the Vodafone so that they do not practice unethical issues towards the company. Moreover, company uses effective ethical practices so that brand image can be gained. Also, business uses different marketing concepts like product, selling, social etc to increase the marketing activity of business. Company develops its new product 4G service in cash cows. Further, company adopts different rules and regulations so that unethical consumer behaviour can be stopped.
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