Developing a Marketing Strategy
Developing a Marketing Strategy
DEVELOPING A MARKETING STRATEGY 2
Developing a Marketing Strategy
Nicholas Calhoun
South University
Strategic Marketing
December 10, 2019
KEY DETAILS ABOUT MY ORGANIZATION
My organization is a mobile network provider based in South Africa called MOFRICA LTD. The company has been in existence for a period of twenty-two years in the telecommunication industry, with over twenty million pools of customers. The company boasts of an increase in the number of services we offer, with the recent one being a proposal to expand to the financial market through mobile banking, we boast of a more extensive control of about 67 percent of all off net and on-net calls and 88 percent of short message transfer. A stiff competition exists between a rising company in internet service provision and us, although we still boast of a whopping 79 percent share in the market. Recently we have expanded our services to a roaming service in the neighboring nations. The expansion has seen the rise of our total income made in this year by a margin of 8 percent we attribute this to the new pool of customers made through the roaming service. Our mission statement states that we strive to give our customers a world-class standard and aim at becoming their critical partners in their daily lives as they grow to achieve their dreams through reliable telecommunication services.
SWOT ANALYSIS
Strengths
Mofrica has the longest-serving staff as compared to its competitors in the industry since its inception, and it has achieved a customer retention rate of 88 percent. This has built a pool of knowledge and expertise in the field as the older team passes the gained experience to the younger generation that is being employed (Leiber, Stensaker, & Harvey, 2018). The younger staff then comes with a new solution and the expertise shared to them, thus pushing the company’s strategic level plans ahead. The company also has the largest pool of customers as opposed to its competitors. This has given a competitive edge against the competitors. With the high number of customers, the company is able to achieve higher margins of profit as they enjoy economies of scale to a greater deal. With more income than the competitors, the organization has been able to invest in infrastructure that has boosted connectivity even to the neighboring countries.
Weaknesses
The company’s future productivity and profitability areas the company may be limited to the number of newer inventions made to meet the expected demand from the society.
Opportunity
There is a higher demand, even in the neighboring countries. People want to communicate in the comfort of their seats. The younger generation has also increased the demand for internet opening doors for more income from them. There is also an untapped market on mobile banking, and the company is eyeing to meet this demand. The banking sector is evolving to eco-friendly systems and customer-based services at once comfort, which will switch the demand now to mobile banking (McDonald, 2016).
Threats
The market has posed the following threats to our company: Political threat, there has been a rise in the political instability with various groups rising against each other in the nation. This increased racism has seen the company experience bias talks and a threat to the grouping of the company’s employees who represent all the races in the nation into their ethnic cocoons. The country has also been experiencing problems with power supply (Sutrisno, Kwon, Gunawan, Eldridge& Lee, 2016). Other places have not yet been connected to the national grid. Our service is depended on the gadget, and maximum profitability is achieved when the users’ devices have power. With the outages, our users fail to use the system and in general, increase the running cost of our systems since they will be underutilized. This goes a long way in affecting the total income and profit gain at the end of the year.
Trends
The Internet has also been criticized as the leading cause in the moral degradation of the younger generation, and campaigns are being conducted on how we offer these services, making a slow pick up of the provisions of the internet by the massed. This is a threat to our future plans to the expansion of even faster internet that what we are currently providing (Tardan, Shihab & Yudhoatmojo, 2017, October).
Analyze the organization’s mission statement
The company’s mission statement addresses the core competencies as follows: Service to our pool of customers those whom we have already reached receive our services, the services providers are all in one package as the telecommunication service. The current mission statement has not addressed the market to a specific market (Gürel & Tat, 2017). Our core competency, according to the mission statement, is reliability and close partnership to the customer. The company’s mission statement measures success through the enrichment of the customer and their general growth towards achieving individual goals.
New mission statement
To bring new values to society, our customers, and shareholders by innovation and instituting quality management in the provision of telecommunication services and related infrastructure through a self-driven and purposeful competent staff. With this new mission statement, there is a purposeful drive-in serving a target group of customers in a specific society and an improved measurability mechanism of general success.
Reference
Gürel, E., & Tat, M. (2017). SWOT analysis: A theoretical review. Journal of International Social Research, 10(51).Retrieved form: https://www.researchgate.net/profile/Emet_Guerel/publication/319367788_SWOT_ANALYSIS_A_THEORETICAL_REVIEW/links/5a09f172a6fdcc2736de9e82/SWOT-ANALYSIS-A-THEORETICAL-REVIEW.pdf
Leiber, T., Stensaker, B., & Harvey, L. C. (2018). Bridging theory and practice of impact evaluation of quality management in higher education institutions: a SWOT analysis. European Journal of Higher Education, 8(3), 351-365. Retrieved from: https://srhe.tandfonline.com/doi/abs/10.1080/21568235.2018.1474782
McDonald, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge. Retrieved from: https://www.taylorfrancis.com/books/e/9781315890005/chapters/10.4324/9781315890005-13
Sutrisno, A., Kwon, H. M., Gunawan, I., Eldridge, S., & Lee, T. R. (2016). Integrating SWOT analysis into the FMEA methodology to improve corrective action decision making. Retrieved from: https://hekyll.services.adelaide.edu.au/dspace/handle/2440/98411
Tardan, P. P., Shihab, M. R., & Yudhoatmojo, S. B. (2017, October). Digital marketing strategy for mobile commerce, collaborative consumption startups. In 2017 International Conference on Information Technology Systems and Innovation (ICITSI) (pp. 309-314). IEEE.Retrieved from: https://ieeexplore.ieee.org/abstract/document/8267962/
Running Head:
DEVELOPING A MARKETING STRATEGY
1
Developing
a
Marketing Strategy
Nicholas Calhoun
South University
Strategic Marketing
December 10, 2019
Running Head: DEVELOPING A MARKETING STRATEGY 1
Developing a Marketing Strategy
Nicholas Calhoun
South University
Strategic Marketing
December 10, 2019
The post Developing a Marketing Strategy .
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