Overview of Micromax Mobile
Marketing principles are considered as the crucial aspects in the process of marketing and they are considered as the ideas that the mangers of the companies form for the promotion strategies of the products (Lees-Marshment, 2014). The use of various kinds of marketing principles can be seen in the business organizations in order to achieve the marketing objectives. The main aim of the report is the analysis as well as evaluation of different aspects of marketing principles of Micromax Mobile. Different parts of the report take into account the analysis of Micromax Mobile’s target market, positioning strategy, current business strategies and strategy recommendations.
Micromax Informatics Limited is considered as one of the major companies of India involving in the business of consumer electronics. Micromax Mobile is a business unit of Micromax Informatics Limited and it is the 10th largest mobile phone company in the world. The company was established in the year of 2000 and it is headquartered at Gurugram, Haryana, India. Micromax Mobile is famous in India for bringing advanced technology in mobile phones (micromaxinfo.com, 2018).
The target customer of Micromax Mobile includes youth, women, rural segment and tech savvy people. Youth segment includes the young people of India that loves selfie phones. Women segment includes both working women and housewives. Rural segments include people from the village area of India. Micromax Mobile targets this segment with their smart phones having the features of Android (Solomon et al., 2014).
Micromax Mobile has been able in covering the entire target customer group in the urban market that is youth group, women and tech savvy people. However, a majority portion of the rural area is still uncovered by Micromax Mobile. Thus, the recommendation for Micromax Mobile is to target this rural area with their technlocally advanced mobiles.
Micromax Mobile positions itself as a mobile brand that offers technologically advanced mobile phones in the most affordable price. The points of differentiation of the company are to provide advanced mobile phones to the rural areas, to be the first mobile phones brand to launch mobiles specifically for women, to provide mobile phones with longest battery back-up and others (Tanner & Raymond, 2015).
The recommendations for Micromax Mobile for positioning strategy are to provide the technologically advanced mobile phones with the latest Android operating system, to provide the mobile phones with their own in-built processors and to provide attractive models and colors of mobile phones.
Target Market Analysis
It can be seen that Micromax Mobile provides their customers with a variety range of mobile phones with different advanced features with the aim to carter to the needs of the customers. The main differentiating factor of the mobiles of Micromax Mobile is that they have been able to cater to all the needs of both the rural and urban customers like long battery life, latest operating systems, advanced features with the most affordable price (Tapp & Spotswood, 2013). Most importantly, Micromax Mobile has launched the dual-SIM phones in both rural and urban markets. It can be seen that the company has been involving in the production of mainly android mobile phones that have gained huge success over the years. Specifically, the Canvas and Turbo series of mobile phones of Micromax Mobile has become majorly popular in the market. With the help of all these advanced featured mobile phones, Micromax Mobile has become a major mobile corporation in the Indian market (Fan, Lau & Zhao, 2015).
Pricing strategy is considered as a core part of the marketing strategy of Micromax Mobile and the aim of the pricing strategy of Micromax Mobile is to provide the customers with best quality mobile phones in the most affordable price. For this reason, the company has adopted the strategy to Penetration Pricing in both the urban and rural areas (Londhe, 2014). According to the company, the low prices of their mobile phones make them able to gain highest market share and overtakes the major competitors in the industry like Nokia, Samsung and others. Especially, the success and failure of the company largely depends on the pricing strategy of them. Under the strategy of penetration pricing strategy, Micromax Mobile sets the price of their mobile phones low in the initial time with the aim to attract the customers so that large market share can be acquired (Nagle & Müller, 2017).
The engagement of Micromax Mobile with different kinds of effective promotional strategies can be seen and the main aim of all these promotional strategies is to create awareness of their mobile phones. One major promotional strategy of Micromax Mobile is to use the Bollywood as well as Hollywood celebrities with the aim to publicize their brand image (Christopher, Payne & Ballantyne, 2013). For example, Micromax Mobile has appointed Wolverine fame Hugh Jackman as their brand ambassador and it shows the intention of the company to expand their business to the overseas market. In addition, as a part of the promotional strategy, Micromax Mobile has developed partnership with other companies like Yamaha and others with the aim to increase the audio experience of their mobile phones. In this context, it needs to be mentioned that Micromax Mobile uses online marketing for their promotional strategy along with print advertising, TV advertising, billboards and others (Khan, 2014).
Positioning Strategy Analysis
Micromax Mobile has adopted a unique strategy marketing strategy related to place and the aim of the strategy is to target both the rural and urban market of India. At the beginning of the company, the main aim of the company was to target the rural area of India where the main aim of the other companies was to target the urban markets (Meffert, 2013). For example, Micromax Mobile launched the mobile phone, Micromax X1i in the rural market that was unique for its long battery back-up. At the same time, it can be observed that the company provides their phones to different stores and malls for selling purpose. Apart from this, the customers can obtain the phones of Micromax Mobile on online from the online stores like Flipkart, Amazon and others. These are the major place strategies that Micromax Mobile has adopted for their business and the success of the business of Micromax Mobile is largely dependent on this strategy (Burns, Bush & Sinha, 2014).
In order to ensure the long-term goal and growth of the company, Micromax Mobile is needed to adopt certain strategies and these strategic recommendations are provided below:
- In order to be more profitable, it is needed for the management of Micromax Mobile to consider the development of their production unit in India as it will save them business resources. It also requires to be mentioned that Chinese language shows in the Micromax’s mobiles at the time of reboot. This aspect can be eliminated by establishing production units in India.
- In this evolving business world, frequent change in the needs and preferences of the customers is a major aspect. Thus, in order to be generate more revenue, Micromax Mobile is needed to find out the technological needs of the customers so that they can make the required up-gradation in their mobiles. Once Micromax Mobile knows the needs of the customers, they will be able in delivering the right products to them that will result in increase in sales revenue.
- The management of Micromax Mobile is recommended to introduce different kinds of discount pricing strategies and weavers with the aim to attract large number of customers. In this aspect, Micromax Mobile can adopt the strategy of temporary price breaking with the aim to drive conversions online. In addition, they can introduce a coupon code for the first time buyers of Micromax mobile phones
- It can be seen from the above discussion that Micromax Mobile is well known for their advanced technological mobile phones in the lowest price. As the company has lowest price of their phones, they can introduce price comparison in their website. The customers are going to compare the prices anyway. Thus, in the presence of this price comparison facility, Micromax Mobile will enjoy highest sales as long as they have the lowest price.
- In the present time, design of the mobile phones attracts many customers and Micromax Mobile is needed to consider this aspect. Micromax Mobile should develop great design for their phones along with the latest operating system so that increased amount of customer the purchase of Micromax mobile phone.
Conclusion
The above discussion indicates towards the importance of considering the required marketing principles for the managers of Micromax Mobile at the time of strategy development. It can be seen from the above discussion that the strategy of Micromax Mobile related to target market and positioning has brought major success for the business of the company. The above discussion also indicates towards the fact that Micromax Mobile has developed effective business strategies in the marketing fields of place, product, price and promotion. As per the above discussion, Micromax Mobile has not been able in performing well in the recent years. For this reason, the company is needed to adopt the recommended strategies to revive the situation.
References
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia.
Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Vol. 7). Harlow: Pearson.
Christopher, M., Payne, A., & Ballantyne, D. (2013). Relationship marketing. Routledge.
Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research, 2(1), 28-32.
Khan, M. T. (2014). The concept of’marketing mix’and its elements (a conceptual review paper). International journal of information, business and management, 6(2), 95.
Lees-Marshment, J. (2014). Political marketing: Principles and applications. Routledge.
Londhe, B. R. (2014). Marketing mix for next generation marketing. Procedia Economics and Finance, 11, 335-340.
Meffert, H. (2013). Marketing-Management: Analyse—Strategie—Implementierung. Springer-Verlag.
Micromax Mobile. (2018). About Us. Retrieved 1 November 2018, from https://www.micromaxinfo.com/about-us
Mukherjee, W. (2017). Micromax’s profit triples to Rs 365.8 crore in FY17. The Economic Times. Retrieved 30 October 2018, from https://economictimes.indiatimes.com/tech/hardware/micromaxs-profit-triples-to-rs-365-8-crore-in-fy17/articleshow/61760659.cms
Nagle, T. T., & Müller, G. (2017). The strategy and tactics of pricing: A guide to growing more profitably. Routledge.
Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer behavior: Buying, having, and being (Vol. 10). London: Pearson.
Tanner, J., & Raymond, M. (2015). Principles of marketing. University of Minnesota Libraries Publishing.
Tapp, A., & Spotswood, F. (2013). From the 4Ps to COM-SM: reconfiguring the social marketing mix. Journal of Social Marketing, 3(3), 206-222.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
