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Strategic marketing management - One Plus

   

Added on  2019-10-31

23 Pages5427 Words169 Views
Running head: STRATEGIC MARKETING MANAGEMENTStrategic marketing managementName of the studentName of the universityWord Count: 3438

1STRATEGIC MARKETING MANAGEMENTExecutive summary The aim of this report is to analyze about the market potentiality of OnePlus 5, a new entrant inthe market of mobile device in Singapore. This report had evaluated the marketing strategies ofOnePlus 5 in the Singaporean market. In addition, to determine their entry point, the analysis ofSingapore market economy was carry out. Various marketing strategies are being used in orderto determine the marketing viability of OnePlus 5. Brief competitors’ analysis were done in orderto evaluate the competition in Singapore market. This report concludes that, OnePlus 5 is havinghuge opportunities in the market of Singapore. Moreover, various elements of marketing mix arebeing discussed in this report, which will further help them to enhance their effectiveness inSingaporean market.

2STRATEGIC MARKETING MANAGEMENTTable of ContentsIntroduction......................................................................................................................................4Market trend in Singapore...............................................................................................................5Competitors analysis........................................................................................................................5Determination of the customer behavior.........................................................................................7Identified issues and opportunities..................................................................................................8Segmentation strategies...............................................................................................................8Demographic segmentation.........................................................................................................8Geographic segmentation............................................................................................................9Psychographic segmentation.......................................................................................................9Target market strategies.................................................................................................................10Target market profiling..................................................................................................................11Positioning strategies.....................................................................................................................11Positioning statement.................................................................................................................13Recommended marketing mix strategies.......................................................................................13Product.......................................................................................................................................13Pricing strategy..........................................................................................................................14Promotional strategy..................................................................................................................15Distribution strategy..................................................................................................................16Conclusion.....................................................................................................................................17

3STRATEGIC MARKETING MANAGEMENTReference.......................................................................................................................................18

4STRATEGIC MARKETING MANAGEMENTIntroductionTechnologies and technological devices are the most potential and profitable ventures forthe contemporary business organizations (Chesbrough, 2006). Thus, more business organizationsare entering in this sector offering different technological products and gadgets (Kaur andAbodallahian, 2014). However, one of the key challenges faced by the organizations is theintense competition. With the entry of more organizations and offering of diversifiedtechnological products, the market is becoming more competitive. Moreover, another challengefor these organizations is the rapid change and development of the technology in the industry(Bettis and Hitt, 1995). Singapore is one of the technologically advanced countries in the Asia-Pacific regions.The population is less compare to other countries in this region, but the high purchasing power ofthe people made this country as one of the potential market for the business organizations(Tremewan, 2016). Moreover, Singapore is one of the early adopter of technologies. Thus,offering of latest gadgets with cutting-edge technology will have a good market in Singapore.OnePlus 5 mobile is one of the new entrants in the already competitive market of mobiledevices. In the initial stage, they have to offer mobile that is rich in features with the latesttechnologies for differentiation. In the following stages, they need similar products that cater forspecific customer segments. Thus, it is important for them to have effective marketing strategiesto create a distinctive image in the market (Kim et al. 2012). The marketing mix should bedesign effectively to have holistic marketing strategy and to stay ahead in the competition. Thisreport will analyze the strategic marketing policies of OnePlus 5 for operating in Singapore. Theanalysis of their potential competitors as well as the potential customers will be performed and

5STRATEGIC MARKETING MANAGEMENTevaluated in this report. Accordingly, recommendations will be provide, adopting these will helpthem to operate effectively in Singapore market. Market trend in SingaporeAccording to reports, Singapore is being stated as the world’s largest Smartphone marketper capita in the world. According to the research being done by Google, Singapore is having thehighest smartphonemarket penetration standing at 85 percent, which is highest in the world(Mumbrella, 2017). Singapore smartphone market will grow further as per projection. Thus, it isa huge opportunity for OnePlus 5 mobiles to offer smartphone in the market of Singapore. Withthe increase in the alternate use of the mobile phones, the demand for mobile phones will getfurther increase. Competitors analysisIn the Singaporean market, the two top competitors are the Samsung and Apple. Thesetwo is having the major market share (Steven, 2015).However, these two companies are offeringdifferent operating systems to the customers. While Samsung is offering Google based Androidas their operating system, Apple is offering their own IOS to the customers. The market share ofthe cheaper Chinese handset makers such as Xiaomi, Oppo and Lenovo is increasingconsiderably (Meier, 2012). These handset makers are using Android as their operating systems;the market share for Android based Smartphone is rising significantly.

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