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marketing management - Essay Example
Pages 11 (2761 words)
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)…
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. ...
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