Strategic Marketing Plan
Prone, a Canada-based company operates within competitive market conditions. To export smartphones to China, a plan is needed to help the company focus on its strategic priorities. The main aim of this plan is to determine market size, potential competitors, consumers, purchasing habits of customers, and potential risks and mitigation methods.
The global phone market is highly dynamic owing to the everchanging consumer tastes. With China being one of the principal markets for smartphones worldwide, Prone Company expects a large market size for its products. Currently, smartphone shipments in China amount to over 500 million units, which is almost 32 percent of the total global shipments (Lorenz 1). While competition varies in each market, most companies have thousands of dealers worldwide. However, Prone has only 500 franchises in China. According to Patel, the main competition is the phone market is oversaturation and low pricing (1). Prone faces stiff competition in China from Oppo Company which produces similar products to Prone’s but at a lower price
Prone’s main consumers are technology-savvy individuals who want phones that have an unimpeachable camera, are light in weight and super slim, and have a long-lasting battery. Currently, 80 percent of Prone consumers purchase products since the company has a website and mobile app that help answer their questions and the availability of multiple customer care outlets is also a contributing factor. Some of the potential risks the company is likely to face include lacking diversity, artificial intelligence and robot malfunctions, and workforce shortage. Some of the mitigation measures Prone Company is willing to put in place include improving artificial intelligence and robot technology, increasing the marketing workforce, and encouraging diversity in shipping methods, types of products. It is also willing to segment the market and sell different phones at different prices.
Lorenz, Volker. “Topic: Smartphone Market in China.” Www.statista.com, 2019, www.statista.com/topics/1416/smartphone-market-in-china/. Accessed 27 July 2019.
Patel, Sujan. “Growing a Company in a Competitive or Saturated Market.” Sujan Patel, 30 May 2019, sujanpatel.com/marketing/saturated-market/. Accessed 27 July 2019.
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