I am the marketing manager for a leading electronics manufacturer, which specialises in televisions and digital devices such as MP3/MP4 players. I have been asked to produce a marketing report for the company.
The firm under consideration has a share of 15% (for televisions), and 5% (for MP3-MP4), in domestic market (U.K.).
The firm also has vigorous plans to increase its domestic market share in the coming year.
The global market for LCD televisions in fiscal year 2008 was approximately 107 million units (Sony Annual Report, 2009), which implies a growth of 24% over 2007 sales. The unit selling prices are declining and economic slowdown is expected to hamper growth.
The global market for media players is pegged at 275 million units by 2011 (Research and Markets, 2007). The market trend is shifting toward pocket gaming mobile telephony with multimedia features available on the fly.
Marketing objectives should favourably affect the company's top-line. These should be challenging, specific, measurable, and have a set time-line in which the objectives are to be achieved (Palmer, 2009).
The marketing objectives in the current context, hinge upon domestic and international market. It is pertinent therefore, to analyse the company's core strength, market opportunities, threats from competition, and limitations if any, so that, the objectives set forth can be achieved with stretched resources in hand.
LCD televisions and multimedia players are perceived as status symbols that reflect a "digital, cool lifestyle," which provides a sense of belonging in the peer group. ...