Marketing Project - The Puzzle Phone - Essay Example

Marketing project “The Puzzle Phone” Executive Summary This report takes into account the current of the mobile industry and the cell phones that Rubik incorporation is offering to the customers. We, the Rubik incorporation are offering Puzz Phone to the customers who are looking to something new in terms of features and design. Our offering is a revolutionary mobile phone because its features vary according to the demand of the customers. The components of Puzz phone are similar to the lego parts where every part is fixed in the phone according to the customers’ demand. Rubik Incorporation considers iPhone and Samsung its biggest competitors. Although there are many other companies operating in the mobile phone industry but in terms of market share iPhone and Samsung are the leading brands. However for surviving in such a competitive market our company is offering some specific features that will help us create product differentiation. Puzz phone is a phone with distinctive, advanced and innovative features at affordable price. Our pricing strategies are very much different from our competitors as we are offering customized products at affordable price. Puzz is also trying to come up with new innovative technological features in order to compete with brands like Samsung. Puzz phone offers more variable features to its customers and that is what will help us to attract new customers. Our company also takes lesser time to assemble customers’ product. There are various factors that are considered to be the strength of Puzz Phone, however the important ones are its price and high customization. We offer variability in price so customers are allowed to choose according to their preferences. The price advantage provided by Rubik incorporation helps attracting a lot of customers. High customization helps customers selecting the features of their own choice. The demand of every customer is different from the other. Puzz phone helps people to express their own different character and personality through their phones. There are some features of the phone that do affect the brand image. These features are the low productivity and efficiency of the phone. The high customization being offered by the company does affect the productivity of the brand. The company however is trying to overcome the drawbacks in order to cater with the complaints of the customers and establish long term loyalty of the customer. Rubik incorporation is also trying to adopt useful marketing strategies for fulfill their mission and vision. Introduction The mobile phone industry is considered to be the second largest fastest growing industry after internet. The cell phone market has expanded globally due to the rapid advancements in technology and the design of cell phones. The mobile phone industry has experienced tremendous growth since 1994. The worth of the mobile phone industry has increased from 24 million to 182 million in a decade. The mobile phone industry is expanding and growing with the new innovation in technology that is continuously improving the features of cell phones. Today the people are living in an era of innovation and advanced technologies. Cell phone industry is also growing at such an increasing rate because people want to keep pace with these advanced technologies. One of the most obvious reasons behind the growth of mobile industry is because like other commodities mobile phones have turned out to be a necessity for the consumers. Parents buy mobile phones for their teenage children so that they can easily communicate with them in case of an emergency. All these reasons contribute to the increase in size of the mobile market. Cell industry has increasingly expanded within the last three years because the mobile phone companies have come up with more affordable cell phones that are being offered to the consumers at a lower service cost. Mobile phone companies are competing in an advanced technology and communication industry. It is a sector in which the customers are attracted to the company because of its popularity and success. These are the main factors that provoke the customers for buying a product or service from the companies belonging to this sector. The cell phone market is considered to be very competitive because all the companies are almost offering the same products and services with little different physical attributes, and that too at very competitive prices. Costumers have a wide range of products to select from. Companies operating in the mobile phone industry try their level best to attract more customers and increase their market share by offering the best products and services to them at competitive prices. Some of the main factors that drive competition in the mobile phone industry are: Cost of cell phones: Customers are attracted to better products and services being offered at lower cost. Range of features in a single phone: Customers want many features in their cell phones at a lower price. Some of the important features that the customers demand are text messaging, e-mails and internet. New technology improvement: Customers want new and advanced features such as better phone service and advanced camera features, etc. At present the mobile phone industry is at the mature stage, where almost all the potential users of the mobile phones are already using one of the many products offered by the industry. The profitability and growth of the cell phone industry is entirely dependent its ability to attracting new customers. The cell phone companies may succeed in attracting the customers by improving and increasing their product and services. Technology is an important feature by the help of which the cell phone companies may attract potential customers but technology alone is not enough and companies must continuously try to improve their product and services by adding more values and securities for the customers. The cell phone industry is currently at the mature stage. However it may still attract customers by the ways discussed below: Service: Making mobile phones affordable for the consumers will help the companies to attract more customers; however it will increase the competition between the companies making the service fees lower. Innovative style: The improvement made in the design or the physical appearance and the more add-on features help attracting more customers. Customers are also willing to buy at higher rate (Mobile phones market research, 2013). Conclusion Rubik incorporation is continuously trying to establish its name in the market leaders of the mobile phone industry. They have adopted effective marketing strategies to reach their desired market goals. The have created product differentiation by offering customization to its customers that is not offered by any of the other company. The variable price being offered by the company is one of its unique selling points. Rubik Incorporation through its offering (Puzz phone) is continuously trying to capture the market share. The company is continuously coming up with new marketing strategies to attract new pool of customers and capture new markets. It is trying to provide a new and revolutionized experience to its customers by offering a phone that can be used for defining the personal traits and unique personality of the customers. The customers are free to choose the features they like and they are also allowed to remove the features which are no longer are needed by them. This also helps to save a lot of cost. Puzz phone is unique in its features. Although there are certain weakness associated with this product but Rubik incorporation is continuously working to remove all the defects and make the phone more efficient and productive. However Rubik need to come up with more effective strategies in order to survive in such a competitive market. Continuous product improvement will allow the company to attract more customers and increase its market share. Reference Mobile phones market research. (2013). Retrieved April 27, 2014, from Euromonitor International: http://www.euromonitor.com/mobile-phones Read More