ST Smart Phone Company's Strategy: Personal and Professional Growth

This report discusses the personal and professional development strategies employed by ST Smart Phone Company as it enters a new market. It highlights the importance of cost leadership and product differentiation strategies, as emphasized by the CEO, to ensure affordability and uniqueness in their product offerings. The company's decision to expand into the Indian smartphone market is analyzed, considering the potential for growth and the challenges of a new market environment. The report also addresses the marketing and financial issues faced by ST Smart Phone Company, emphasizing the need for effective marketing policies and sound financial management to sustain growth. Ultimately, the report concludes that with the right strategies and a focus on customer needs, ST Smart Phone Company can establish itself as a leading brand in the new market.

PERSONAL AND
PROFESSIONAL
DEVELOPMENT

TABLE OF CONTENT
 INTRODUCTION
 MAIN BODY
 STRATEGY FOR NEW PRODUCT
 ST SMART PHONE COMPANY'S MARKET SELECTION TO
LAUNCH THEIR PRODUCT
 TWO MAIN ISSUES FACED BY ST SMART PHONE COMPANY
 CONCLUSION
 REFERENCES

INTRODUCTION
 Personal and professional
development allows person and
organization to involve in the process of
challenging and learning, it allows them
to accomplish their future goals.
 These skills help individual and
organization to shape their future in a
effective manner.

STRATEGY FOR NEW PRODUCT
 Cost leadership strategy is the key
beneficial strategy which organization can
start with to launch their product in the
market.
 By using this strategy company can limited
their investment, or they involve the
cheapest manufacturer for their product, so
they can utilize their asset on different
project.

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 CEO of ST mobile company wants their
employees to involve product differentiation
strategy in the development of their new
product so that customers can easily
differentiate their product from other
company's product.
 Yes the decision taken by CEO is good as it
includes the strategy which can reduce the cost
price.

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It can be easily affordable to customers as customer
only look into those products and services which
are affordable and cheapest for them.
 CEO further told their company to increase the
quality of their product and make it affordable
and easily available to the customer, also
describes to make easy interface of their mobile
product so that customer can easily use it but its
algorithm should be complex so that its
competitive companies can't crack their code.

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 CEO's message motivates the employees to work
on their new project, with the guidance of their
CEO they will be able to make product which
includes product differentiation strategy so that
customer can easily distinguish their product from
other company.
 therefore, it is necessary for the company to made
their product unique and on affordable cost for
the customer from their rivalry company in the
field of their market.

 ST company's main product is
smartphone for that purpose they have
collaborated with many international
software brand to increase the values in
their product.
 As the nature of smartphone market is
always dynamic everyday new product
has been introduced to develop the
image of their brand.
ST SMART PHONE COMPANY'S
MARKET SELECTION TO LAUNCH
THEIR PRODUCT

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 ST company needs to introduce their product
in new market so that it will cover wide
range of new customers.
 Company is running successfully from the
past nine years they have gain experience in
dealing with international smartphone
market.
 Thus the company is more adequate in their
working environment.

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 The new market always carries challenges and
competition for the new company.
 ST company decided to start their business in
international market to increase their brand value
in the new market they have made a complete
analysis report on their chosen country's market
environment.
 Company has decided to enter into India's smart
phone market. For this purpose they have made
complete report on India's smart phone market.

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 Company target this country because the
number of users are maximum in this country
which can be beneficial for company's
growth.
 ST company wants to innovate their product
by adding new technologies in their product
so that it can easily attract customers across
the world.

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 For the growth of their brand St
company decided to enter into the
international smart phone market
for that they have chosen an India
country to expand their brand
value.
 Before entering into new market
company has analysed all market
environment of new country so
that it will be easy for them to deal
in new market.
 Company included new
technologies in their strategy for
the development of their product.