Marketing Strategy Example OnePlus PDF

Marketing Marketing Strategy MARKETING ORGANIZATIONAL OPPORTUNITIES CAPABILITIES AND GOALS Strategic planning is the process of developing and maintaining a fit between the organisation’s goals and capabilities an...

Marketing Marketing Strategy MARKETING ORGANIZATIONAL OPPORTUNITIES CAPABILITIES AND GOALS Strategic planning is the process of developing and maintaining a fit between the organisation’s goals and capabilities and its changing marketing opportunities. Strategic Planning Process DEFINE THE SET DESIGN PLAN MISSION OBJECTIVES BUSINESS STRATEGIES PORTFOLIO Source: Kotler: Principles of Marketing Define the mission The organisation’s purpose, what it wants to accomplish in the larger environment “ Our mission is to share the best technology, built hand- “ in-hand with you. ONE+ was founded by Pete Lau and Carl Pei in December 2013 Carl Pei  Defining the Mission Creating a mission begins with the following questions: What is our business? Who is the customer? What do consumers value? What should our business be? A mission statement should be meaningful and specific, motivating, and not be stated as making sales or profits. SLOGAN Customer Profile Younger Tech Savvy Budget concious but not willing to compromise on design and software. Value driven Set Objectives Business Marketing objectives objectives Build profitable Increase customer market share relationships Create local Invest in partnerships research Increase Improve profits promotion  2014 OnePlus One Iphone 5S Samsung Galaxy S5 €219 €549 €589 This strategy continued with the OnePlus 2 (£249) and the OnePlus X (£199), and it appeared to pay off for the company. By offering flagship- level smartphones at aggressively low prices, OnePlus quickly gained a loyal and vocal following, accelerated further by its community-driven image and “invite-only” system that positioned its devices as VIP products for only a select group of people. https://youtu.be/lTGzRWujBPo This major shift in strategy began with the OnePlus 5 series in 2017, and it has seemingly paid off for the company in some markets. The company has been “making strides, particularly in the high-value segment”; it’s usurped Apple and Samsung to become the leading premium phone maker in India, and it ranks in the top five in the UK, US and China for flagship smartphone sales. Neil Shah of Counterpoint Research OnePlus accounts for just one to two per cent of the overall global market and fails to make a dent on the top ten OEM rankings. OnePlus places around 20th Neil Shah of Counterpoint Research https://youtu.be/HPmXvLpfFRE  Define Business Portfolio The business portfolio is the collection of businesses and products that make up the company  Analyse Business Portfolio Portfolio analysis is a major activity in strategic planning whereby management evaluates the products and businesses that make up the company  Analyse Business Portfolio Portfolio analysis steps identify the key businesses that make up the company, called strategic business units (SBUs). An SBU can be a company division, a product line within a division, or sometimes a single product or brand  Analyse Business Portfolio Identify key businesses (strategic business units, or SBUs) that make up the company Assess the attractiveness of its various SBUs Decide how much support each SBU deserves Analyse Business Portfolio  Problems with Matrix Approaches Difficulty in defining SBUs and measuring market share & growth Time consuming Expensive Focus on current businesses, not future planning  Product – Market Growth Matrix Product EXISTING Market Penetration involves making more sales to Development current customers without is offering modified or new changing its products. products to current markets. Market Emphasis. Diversification is where a company starts up Market Development or buys businesses outside of NEW involves identifying and its current products and developing new markets for its markets. Companies must also current products develop strategies for downsizing their businesses. EXISTING NEW Product Emphasis Marketing Strategy and the Marketing Mix Market segmentation is the division of a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes Market segment is a group of consumers who respond in a similar way to a given set of marketing efforts Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter Image Source: http://upload.wikimedia.org/wikipedia/commons/a/ae/Lifehouse_concert.jpg Market positioning is the arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumer Positioning OnePlus moved away from its value-driven roots and instead looked to capture Samsung’s target market, customer retention, we’re told, started to drop. OnePlus believed its upstart- esque image and community- driven attitude was the driver of its early success, when it was, in fact, the low cost of its devices. The rabid fanbase that had taken to the OnePlus and its sub-£400 smartphones were no longer being catered to by the company as OnePlus moved to take on its rivals head-to-head.  OnePlus Nord “The OnePlus Nord takes it back to that heartland, but at a time when the mid-tier market has never been more competitive. Although it ticks all the boxes on specs, the company still faces the challenge of differentiating itself in a market where all devices look the same. Getting ranged across a wide range of channels is going to be a key factor in beating its rivals.” Ben Woods, chief of research at CCS Insight  OnePlus Nord a smartphone that harks back to the company’s early years with its ludicrously cheap £379 price tag, with the company seemingly noticing a gap in the market that it itself created. https://youtu.be/CLBxAB7vAas  Marketing Strategy and the Marketing Mix Traditional Marketing mix is the set of controllable tactical marketing tools— product, price, place, and promotion—that the firm blends to produce the response it wants in the target market Managing the Marketing Effort  Marketing Marketing Strategy