International marketing Assignment report online: Solar energy mobile phone: Australia
Executive summary
To discuss the selected company that has set up in Australia described in the assignment part-1, this paper presents further discussion on the marketing and expansion strategies in the Australian market of the product “ Solar energy mobile phone” that introduced by the company detailed consist in the assignment part-1. To discuss and provide in depth descriptive information about the entering strategies of the company to enter with new innovative product “Solar energy mobile phone” in the Australian market “the paper divides in numerous sections that involves and contain all the essential information, theories, models, strategies, approach, tactics and ideas that presents complete and clear visibility or understanding about the Topic. The paper begins with small introduction that consist information about the paper and key topic that needs to cover in the discussion in the sections. In the further sections the paper consist all the required essential information and idea that discusses and presents in depth descriptive information about the topics. At the end in conclusion, the section concludes all the above discussion that presents summarization in effective manner and provides quick overview of the discussion.
To enter in the Australian market the company planning to use Joint venture global strategy. The paper discusses all the key aspects areas that contain the following key information related to marketing plan to enter in the Australian market. The required important areas that needs to addresses in the below sections are as followings: Objectives through using of penetration marketing strategy, SWOT analysis of the product and market, different marketing strategies and models that needs to used to expansion the business in the Australian market, Structure of the company in the Australian market to perform effectively and efficiently, Marketing mix strategies for the product, define the target market for the product in the market, company vision, mission, goals and objectives, major key challenges that needs to addresses in the market and many other required information and topics.
Introduction
Today people are focused on eco-friendly products and many research articles and secondary sources present that with high technology, globalization and development the business environment becoming tougher. Many organizations and business models introduced in the market that developing eco-friendly concept and eco-friendly products. Government also proposed and introduced several guidelines to create more eco-friendly environment and has taken initiatives to develop and introduced eco-friendly products to create healthier environment. As the there are two types of resources that exist in the environment renewal energy resources and non-renewal energy resources. Solar energy is source of renewal energy that cannot be finished; in this case the proposed and introduced product has high potential in the consumer market. In the first assignment the introduction part provides information about to expand the market of the introduced product “Solar energy mobile phone” focuses on the three major international markets Japan, Europe and Australia. This paper focuses on the expansion strategies in the Australian market with help of joint Venture strategy.
Hi-Tech wealth (HTW) is a Chinese high-tech company operating its business in the area of launching and selling the branded digital mobile devices. The solar energy mobile phones are innovative eco-friendly product that powered by the solar energy. As the competitive business environment to run the business and sustain the business successfully required effective and efficient communication tools and techniques to support 24×7 hours. Mobile phones are effective and efficient tools and techniques to communicate the messages and plays important role in the area of relationship or network building and management successfully. A part from mobile device or communication tool the above discussed all the key essential features and benefits provide the level of potential of the product in the market. The introduced product solves the problem of shortage of power effectively and also increases the efficiency level of the product performance that users faces during their day to day life and at the time of travelling. These indicate the range the benefits and advantages in perspective of technology and long lasting power are largely demanded and liked by users. Due to the above range of benefits and advantages that introduced product “Solar energy mobile phone” required costly elements and material to be manufactured, it is the reason the cost of product is higher than the normal mobile phones.
1. Objectives with the market penetration
There is no such doubt that Australia has known as the World’s single largest marketing opportunity. Australia has been the most favorable nation and also it has created the greatest status in the society. It continuously is dealing on human rights and violations thus it has less democratic government and also it offers high presence so as it is dealing with world-wide exports. The researchers and analysts in this country is known very well for the human resource specialists and now Australia is not only a profitable market but it is also the less interfered and less involved country in terms of government and other sources. It is looking for the long range of pictures and also it has increased the high focus on the factors of investment. This way, the country also has the huge availability of cheap labor force and right amount of skills.
Today the mobile service industry is one of the fastest growing industries in the whole world. It has more than five billion of users and it also provides telecommunication and information related services. Thus it carries huge advantages and the companies also develop the unique needs of mobile services industry. Solar energy is the fastest growing industry in the whole world. This increases the compound annual growth rate of 35% in the industry and it also retains the position year after year. (Katz, Tran & Walker, 2007)
The market penetration helps to increase the sales and profits of the business.
It also helps to expand the capacity of the market
To achieve the worldwide electricity market
To increase the cost effective production and
To provide the most effective and the efficient solution
To also develop the needs in the market
To increase the demand from the customer
Penetration of ICT services in the rural areas
Low level income customers can highly afford this product. (Clark, 2012)
- 2. SWOT Analysis
| Strengths |
The major strength of this product is to provide the sustainable and the renewable environmental friendly sources of energy.
This product is differentiated from carbon based energy sources.
It is really impressive and unique
It also provides with long term warranty and supports the product from harmful substances and this secures the energy supplies
Good integration and coexistence
Good peer to peer interaction and communication
It has multiple uses and applications
It has first mover advantage
Weakness
It is costly to implement and also it is difficult to produce the high levels of solar power.
It has huge challenges and difficulty in terms of traditional forms of energy and also it has high power but it is based on price.
This product has large initial cost
There is large number of add-on required.
Lack of awareness and education
Huge investment is required
Very limited market Opportunities
Opportunity is based on price
The use of solar energy is becoming cheap
Growing popularity in the solar energy deals with high prices of energy
Increase in the usage of applications and technology
Samsung is dealing in this product in the market
Threats
Existing competitors such as Samsung
This product could be threatened by new and advanced technologies.
Strong competition entering in the country
Source: (Brussels, 2005)
- 3. Strategies needed to be adopted
Consumers are consistent with important preferences and the solar energy is produced from renewable sources of energy. It also fails to purchase the different sizes and different approaches. There should have better implementation on pricing part so that the consumers could get attracted and also there should have better periods of understanding between the uses and importance. Thus the strategy should focus on better reliability so as there should have proper performance and high capabilities to know about reliability and also to know about the solar technology. The awareness should be created and also the benefits of these technologies should be taken care of so that it could lead to the broad market. The strategy of marketing deals with the customers in the better forms and there should have on-line chats, thus they should also have newsletters, traditional media that could deal with the successful brand and also could lead to the process of identifying and to meet the consumer needs. The organization should also try to focus on the effective communication so that it could deliver the accurate message. There are different elements of marketing such as product, price place and promotion so the marketer should focus on introducing the marketing mix strategy with the help of various factors such as:-
There should have understanding of the rational and the emotional attitudes of the consumer. Thus there should also have to be the understanding of the consumer’s reaction so as also the marketing and communication approaches will identify the both strengths and positive attributes with respect to increased sales.
Price is one of the important and the major strategy for the marketer to deal with the product in the market. This strategy deals with overcoming the concerns of prices and also it creates awareness and promotion to the consumers and the target market. Thus this values the customer in terms of financial strategies.
Place is the channel that helps to denote the fact about the important roles and responsibilities and it also helps to build the supplier networks with high demands. Thus there should have high availability of the product and also there should have easy convenience and reach from the side of the consumers.
Promotion: This is the specific tool that needs to be the primary idea and the primary focus of the increase in awareness so as other aspects of marketing. This also helps to meet the public with stronger technologies and stronger market. This helps with better tools and technologies. Thus the goal of the marketer is to examine the approaches and the offerings of the customer so that there will be effective sales and increments.
The use of marketing plan as well as promotion helps in improving the process of sales as well as it also helps to deal with the overall sales. This also motivates the target customers to take any actions and also to create the high levels of growth. The marketer should deal with the better marketing plan and there should have better understanding of the marketing and better plans. There should have effective marketing plan and also there should have proper goals and activities to deal with the process of sales and to meet the important goals of the product. This plan also helps to design and to create the communication and other initiatives of actions and sales process. Thus it should have focused on achievable quantifiable and measurable goals. They should also target the low level income and also there should have effective plans in terms of different strategies such as:-
Market analysis: The marketer should analyze the factors of success and failures. They should have proper dealings about the plans and the next step is to deal with the customers in terms of motivations and attitudes and also in terms of key opportunities and other aspects and plans. Thus there is also the requirement of understanding the objectives in the proper market such as to increase the customer segments and to increase the other goals. This helps to reach the major objectives of the business and also creates the strategies to the specific market so that there will be better and the top most priority. This will create the high reliability and also this will help to deal with the market visibility. Finally the marketer should focus on the strategy to evaluate high levels of success and to review the marketing plans with the adequate resources and timeframes. (cleanenergystates.org, 2009)
- 4. Operational function of the company and the place of supply chain
The operational function of the company focuses on extremely reliable and the sophisticated equipment. The company has high potential of high skilled and talented employees. This helps them to ensure the continuous efficiency and they have high potential of infrastructure in terms of better equipments and other important functions in the timely and the cost effective manner. Thus the organization will support the better systems and also will deal with the better maintenance and high frequency. This also helps to achieve high levels of production and the advanced monitoring systems also helps to perform with high levels of potential. (Bem, 2012)
The company optimizes high speed and high accuracy and high efficiency with increased profit margins and revenues. The company also helps to maximize the allocation of resources and storage for direct movements to reduce the cost. Thus they focuses on high leading class with better customer service and better demands so as it helps to analyze the performance and also helps to deal with increased productivity. This also increases and maximizes the productivity and profitability. This way, it will provide the increase in the productivity so as the increase in the warehouse capacity and its availability helps in expanding the movements and changes with efficient use of spaces. This improves the level of accuracy and also minimizes the cost. The company should also enable improved level of decision making and high efficiency to analyze and to continue the operational performance with the activity of management tools. The organization deals with world class supply and this focuses on high quality with high cost so as also the better delivery performance and reduction in the lead time. (Solarsoft.com, 2012)
- 5. Marshall of human resources
Each employee plays a very important role in terms of contributing with leading organizations and this also helped with the most important parts in the world. It also helps to foster the work environment and also it enables to embrace the spirits and to contribute to the highest possible ways for professional and personal needs at work as well as home. This section describes about the programs as well as services of the HR and also it includes the function of search. (Princeton.edu, 2012)
- 6. Modes of entry
Modes of entry in the market depend on certain factors such as:-
This helps to explain the better search and better methods for the strong distribution. This includes services and helps to manage the market in Australia. They should also focus on entering the new markets and with the help of successful niche market. This will increase the sales and also it will help to increase the brand awareness so as business stability. This includes the possible customers and also the potential competitors. This includes the examination of the needs and wants of the product so as it will also help to consider the products in terms of better modifications and also in terms of competitive market. They also will need to know the market competition in terms of the nature of the market as well as the deal. There are different methods of entry in the international markets such as:-
This organization will have the valid license for the business so as it will also become the first and the foremost thing that requires to be completed before the entry in the Chinese market. This will also need the huge investment from the business and it will also deal with the organization. (Economywatch.com, 2010)
- Macro environmental factors:-
The macro environmental factors especially identified as follows:-
The macro environmental factors consists different aspects of surroundings. This potentially affected the strategies of the organization and also this includes changes. There are many factors that affect the decisions of the organization in the managers. The different examples are tax changes, trade barriers and other policies related with the government. This can be identified with Pestle model that is as follows:-
Political factors: This refers to the government policy that helps with the high degree of intervention in the economy. This also describes the political decisions such as this impact the vital areas of business in terms of the support of the business. The political decisions impact on vital areas for business as well as it also deals with the other rail or road systems.
Economic factors: This include the rate of interest and also the change in the taxation laws other exchange rates. Inflation also provokes high demand of the wage structure and it also increases the cost.
Social factors: Changes in social trends impacts the demand of the firm and also it creates the high availability as well as the willingness of each individual.
Technological factors: The technologies and new uses of advanced approach increases the technological advances and also it deals with the better output. This also helps in improving high quality so as it leads to innovation. Thus it benefits the organization as well as the products.
Environmental factors: The factors of environment that includes changes in the climate and the weather also impacts the product as this product is dependent on solar energy so the environment matters a lot for this organization.
Legal factors: These factors are related to the legal environment and this also affects the behavior of the organization. This also helps to introduce the age discrimination so as it also deals with the increase in minimum wages and also it aims to protect the employees with respect to the managers. (Oup.com, 2007)
- 8. Marketing mix variables
Product: As the product is eco-friendly, the product is very innovative and it is also the less costly and the expensive product because this product does not require high levels of energy and it does not require any cost or expenses. Thus this product will be very successful in the market.
They place the brand with the better segments and also this helps in the unique segment at the reasonable cost.
Place: The product is widely available in the markets such as retail stores, distribution centers, and other collection.
Price: This strategy will be dependent on the cost and the product. Thus it will be based upon the uniqueness of the product and it will depend on the flexibility of the product therefore this will be unique as well as competitive and easily affordable by the target group.
Promotion: The use of internet, other channels or mediums will help to promote this product effectively and efficiently. This will also deal with the great markets and this will lead to the important sources of channels, thus there will be greater reach and high network and distribution of the same. The product will create awareness with the help of personal selling, sales related promotion and direct approach as well as trade fair. These practices will help to increase the market awareness. Also the use of integrated approach of marketing will deal with the multiple modes of communication and also it will focus on greater features and benefits.
- 9. Fund of venture
There will be joint venture so that it will be the best way to enter in the target market. This will require less effort and also the less investment. Thus it will help to generate high amount of profits with respect to better strategies. Thus it will meet with the derived brand successfully. This will be the best way to create the desired market and within the less budget.
10. Target market needs and requirements
The target market that has been chosen is the people with high consumption level, internet-enabled supporting environment and environmental consciousness. Business professionals who work in offices and often go to business meetings and travels and senior employees are targeted as potential customers, because they requires the particular features of solar energy mobile phone and this phone will meet its requirements as in the busy schedule, they might forget to carry the battery chargers so it is really easy for them to charge it through the help of solar energy.
- 11. Challenges
There was a huge challenge in assignment 1 about the understanding of SWOT analysis, the entry modes and methods, other important strategies were not discussed in assignment 1 which has been addressed in this paper to make the reader understand this successfully.
- 12. Sense of vision
The sense of vision will be is to deeply understand the value and the uses of the product so as to use it for long term and for long sense. This will manage the efficient uses and it addresses the solutions to lot of problems and other technologies.
- 13. Strategies work in chosen market
Yes, the strategies will really work in the chosen market because the target group prefers to be online, they spend most of their times exploring the electronic items and gathering of knowledge online so this will help them to increase the market awareness and this really will work a lot for the chosen market.
Conclusion
To conclude, the above sections that discussed all the key aspects of the requirement provides in depth descriptive information about the introduced product “ Solar energy mobile phone” and marketing strategies of it in the international market in Australia. All the discussion provides information about the marketing mix of the product that contains information about the price, place, promotion, product, process, person and physical evidence of the product. To expand the business in the Australian market the company used joint venture global strategy. Apart from all the key discussion this paper also present numerous short terms and long terms marketing strategies that needs to address all the issues and challenges in the existing market.
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