Marketing Essay Example | Topics and Well Written Essays - 1250 words - 17

Marketing - Essay Example These strategies are divided broadly into strategic scope and strategic strength. 2 A strategic scope relates to the demand of the products or the services that the company deals in and it focuses on the demand size and the component of the market. Strategic strength focuses on the supply of the products or services. Porter then came up with three strategies that reduced the broadness and the ambiguity of the previous strategies; these strategies included cost leadership, differentiation and market segmentation. The three strategies are drawn in a cube with the focus strategy being in the narrow segment and the other two being relatively broad.3 According to Porter, companies that gain a competitive advantage are those that strive to combine the three strategies effectively. Market segmentation can be combined with the differentiation strategy and ripe the company very effective results. Combinations of the strategies that are grouped in the broad category of the cube are a bit difficult to combine but that does not mean that they do not take place. Segmenting the market into niches helps the company to scope itself, increase the concept of demand and increase the company’s market share. Market segments also affect the strategies that relate to innovation and give the company the edge technology. This is because reducing the size of the market gives the company the specialization of the market and therefore, a chance to concentrate on aspects of improved technology. This presents the company as the pioneers of innovation. A multi-dimensional approach is a kind of approach where the company incorporates all the variables of market segmentation in coming up with its niches. These variables are broadly divided into; geographic variables, demographic variables, psychographic variables and behavioral variables.4 2.1 Geographic Variables – this is the

Consumer and Buyer Behavior; An investigation into UK Mobile Phone Essay

Consumer and Buyer Behavior; An investigation into UK Mobile Phone network providers - Essay Example Current study focuses on the examination of buyer and consumer behaviour in British market regarding a particular industrial sector, this of mobile phones; the specific part of the industry under analysis is that of the mobile network providers. In Britain there are no many mobile network providers: they are approximately five: Orange, Vodafone, T-mobile, O2 and 3G. These network providers also serve as ‘hosts’ for other – limited – networks like Virgin and OneTel. The research made on the various aspects of activities of these firms within the British market proved that they all have significant advantages and weaknesses. The empirical research (survey) that was conducted for this study led to the conclusion that British industry of mobile network providers is divided in 5 major parts responding to the firms named above; the entrance of a new firm in the specific market would be a challenging initiative; however it is necessary that existing infrastructure and services are updated in order to ensure the competitiveness of these firms in the long term. The development of mobile networks providers industry in Britain has been gradual. Vodafone and O2 has been in the specific sector of British market for quite a long while the other firms, Vodafone, Orange and 3G followed later. In fact, 3G is a quite recent firm in the specific industrial sector; the firm entered this sector in 2003; it is the first firm operating in this industry that offered to its clients the third generation technology. It should be noticed that the competition in this industry remains high despite the fact that no new (after 2003 and the entrance of 3G) firms have entered the specific industry. The increase of competition in all commercial areas is a phenomenon that has been extensively analyzed in the literature and the empirical research. In accordance with Douglas et al. (1989, 437) ‘recent years have witnessed