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Marketing management - Essay Example

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Marketing management

According to a survey carried out by IBIS world, the profit margins of the industry will reduce by 1.5% over the next 5 years due to mounting competition among the providers. However, this has also led to the falling price of the phones. The company projects that UK mobile phone industry is expected to reach $3 Billion by the end of 2014. Furthermore, the development of new technologies such as, 4G services, the development of smart phones and the new applications, is also driving the industry (Adler, 2010). The UK mobile phone industry is characterised by high rates of market concentration and competition. Some of the key players of the industry are Vodafone, T-mobile, Virgin and O2 among others (Cohen, 2004). The industry will be analysed with the help of Porter’s five forces analysis and on the basis of that, a SWOT report will be prepared. The industry analysis is presented below: - Factor Analysis Resultant Bargaining Power of Buyers The bargaining power of buyers refers to the ability of the buyers to bargain and reduce the price. Reports have shown that the industry is growing at a robust rate and one of the reasons for this colossal growth is the enthusiasm among the buyers. However, due to the presence of a number of providers in the market, the buyers have the tendency to explore the other. This reduces the brand loyalty rate among the consumers. High Bargaining Power of Suppliers The bargaining power of suppliers refers to the ability of the suppliers to bargain and increase the manufacturing cost of the firm (Ferrell, 2006). The suppliers of raw materials for the mobile phone industry in UK is adequate in number and in most of the cases, these companies enter into a treaty with the suppliers which reduces their power to a great extent. Some of the key suppliers are Huawei and ZTE. Moderate Threat of New Entrant The threat of new entrant refers to the threat of a new player entering the industry, thereby increasing the level of competition. To start a telecom business in UK, one needs to go through a series of legal acts and moreover, acquiring spectrum rights is an apprehensive issue. Setting up of a telecom business also requires huge start up cost which often acts as a hindrance. Low Threat of Substitute The threat of substitutes refers to the extent to which substitute products can increase the competition within the industry and act as a potential threat to the firm. The substitutes of a mobile phone are tablets, land phones, palmtops and also, mini laptops to a certain extent, as it serves the core function of facilitating communication. These products are available throughout the country and in almost every outlet. However, due to the portable nature, mobile phone has its own set of customers. Moderate Threat of Competitors The threat of competitors is the level of competition within the industry. In the context of the mobile phone industry of UK, the industry is fiercely competitive due to the presence of a number of players. Some of the established players of this industry are Vodafone, T-mobile, Virgin and O2, among others. High On the basis of the outcome of the industry analysis, following is the set of strengths, weaknesses, opportunities and threats for Blackberry in UK market. The same is illustrated below in SWOT analysis framework. Furthermore, the subsequent section will also prioritise the opportunities by considering certain ...Show more

Summary

Marketing Management Q1. Conduct an industry analysis to identify key opportunities and threats within the UK. The mobile phone industry of UK is currently witnessing a booming phase. Reports suggest that around 92% of the UK adults own a mobile phone which is one of the major factors contributing towards the colossal development of the industry (Clifton, 2012)…
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