Discuss about the Marketing for Industry and Organization Analysis.
The marketing plan is essential to flourish the business actions and functions in the international market. The main aim of this task is to measure the marketing strategies for expanding the business globally. TPG Telecom Company has been taken in the task. It is one of the biggest and growing telecommunications company across the world. The mission, vision, 5Cs framework, segmentation and targeting strategy have been explained in the task. Along with this, the paper explains the marketing mix strategies that help the firm to produce and launch innovative products in the global market. The value proposition also has been explained in the task widely. Further detail of the paper is discussed below.
TPG telecom limited is an Australian telecommunication and IT company that specializes in business and consumer internet services and mobile telephone as well. The company was established in 1986 having headquarter is situated in North Ryde, NSW Australia. It is the second biggest internet service provider in Australia and manages the biggest mobile virtual network operator (Papas et al, 2013). It has been noted that the company offers five ranges of products such as OEM services, mobile phone services, internet services, networking and accounting software. The mission of the company is to provide consultant services and resources to people and organizations that change the world. The other mission of the firm is to help venture partners and clients by providing internet services to them. The vision of TPG is to deliver powerful and effective solutions and services across the world. The core values of the firm include strong goodwill, work smart, improvement, dignity and accountability. The company offers ample of services to residential users, government, large corporate enterprise, small and medium enterprise and wholesale customers (TPG, 2018).
TPG renders ADSL2+NBN, Fibre optic and Ethernet broadband access, internet protocol television, telephony services and SIM and various business networking solutions. By initiating effective and unique pricing policies, the firm is able to boost and enhance its brand image in the global market. In today’s era, the company is increasing and enhancing its revenue and profitability (TPG, 2018). CSR practices are followed by the company effectively and efficiently. By implementing competition orientation, TPG Company is improving and enhancing its strategies and policies to strive with competitors (Bocken, 2017). The estimated revenue of the organization was $791.9M and the firm employs approx 939 employees. The main competitors of Corporation include IBM, Oracle, SAP, HP, Microsoft and Juniper. It has been noted that TPG company uses online marketing strategies to attract maximum number of the customers. It is stated that branding is an empirical part of TPG that helps to increase the sale and revenue in the competitive market (Owler, 2018).
The 5 Cs plays a significant role to flourish and expand the business activities and actions worldwide. The 5C framework is used by TPC Company to make unique and effective decisions in the global market Gregorek & García-Ortiz, 2014). The 5C framework include ample of factors such as macro environment, micro environment and internal factors. The elements of the 5Cs include collaborators, customers, competitors, company and context Harvey, P. L. The 5Cs for TPG Company have been detailed below.
Strengths
Key resources
In telecommunication industry, TPG Company has ample of resources that help the firm to flourish the business in a hassle free manner. It is a market leader in the Australian telecommunication industry. It includes intangible and intangible resources to maximize the profitability and revenue of the firm. The key resources include leadership team, friendly behavior of the employees, effective and strong organizational structure, brand name, pricing strategy and high and unique quality of products. The key resources help the company to cope with the competitors in the international market.
Weaknesses
Opportunity
Threats
TPG Australia focuses on the needs, desires and preferences of the customers. The company uses segmentation, targeting and positioning strategy to attract and retain the consumers worldwide. The firm divides its market on the basis of demographic, psychographic and behavioral areas. If offers telecommunication and internet services and products to the customers who are the between age of 20-50. Various internet and telecommunication services are used by the target audience. The company focuses on the lifestyles, age and income level of the people. The lower pricing strategy is also used by the firm.
There are ample of partners of TPG Company including TPG capital, TPG Growth, TPG ART, TPG capital Asia, TPG Biotech and TPG real estate. These partners help the company to run the business activities and operations eventually and effectively. It is one of the significant telecommunication companies in the Australia who delivers innovative and unique internet services to the customers across the world. These partners provide financial support to the customers in the competitive market when the company needed. These partners also increase and enhance the revenue and returns of TPG group by collaborating with company. With the help of partners, the company has been able to provide great and unique quality of internet and telecommunication services and products to the consumers in the market (Chmielewski, 2012).
There are ample of competitors exist in the global market including IBM, HP, Microsoft, Juniper, Oracle, and SAP that could affect the performance and outputs of the firm adversely. TPG Company uses unique and dynamic strategies to beat the competitors and to expand the business globally. It is stated that competitors put the direct impact on the success and progress of TPG Company in the Australian telecommunication industry.
Political factors: These factors affect the profitability of the firm adversely and positively as well. The political factors include level of corruption, rules, regulations and intellectual property protection may affect the sustainability and outcomes of the firm. The company needs to focus on the political factors to stay in the rivalries market.
Social factors: The social factors include culture, beliefs, values and morale of the people that could influence the activities and operations of TPG Company. To analyze and evaluate the social factors, the organization should conduct pestle analysis in the marketplace.
Technological factors: Technology is also disrupting TPG Company widely. It has been noted that TPG Company should focus on the innovative and new technologies and resources to stand out against the competitors across the world.
Legal factors: The legal factors include antitrust law, discrimination law and consumer protection act may influence the outcomes of the company adversely. TPG group must focus on the legal factors to operate the business activities in a hassle free manner (Jothi, Neelamalar & Prasad, 2011).
The 5Cs model is a tool or method that can be initiated by the company to analyze and evaluate the external threats and challenges of the market. To implement 5Cs framework, firstly the company needs to identify and evaluate the issues and problems of the market. There are various strategies that are exercised by TPG Company to collect data related to the external environment of the country. Market intelligence and marketing research are significant strategies that can be used by the firm to analyze and measure the issues of the macro environment. With the help of market intelligence strategy, the company has been able to collect ample of information related to the products and services. Under market intelligence, the firm uses market penetration, market development and decision making strategy at the workplace. It is noted that the Corporation has been able to identify and analyze the micro environment and macro environment by using these techniques within the organization. The 5Cs model helps the firm to measure and determine the market environment of the country. On the other hand, market research techniques and tools help TPG Company to identify the partners, suppliers, customers and rivalries in the marketplace (Wymer, 2011).
To expand the market, pestle analysis is done by TPG group at international level. It has been measured that the firm can analyze and identify the key resources, capabilities and weaknesses of the firm by using of SWOT analysis. These models also provide competitive benefits to the company and customers as well. Through market research and survey, the firm could able to understand and determine the preferences, choices and tastes of the consumers in the Australian market. The market research also helps to analyze the purchasing power of the consumers. It is noted that competitors also have direct impact on the sustainability and results of the organization. These competitors are also becoming major threats for TPG Company. Collaborators also play a vital role to enhance and maximize the results of the company. The suppliers can also provide financial support to the company in order to run the operations successfully. If the company expand and explore the business at international level then various external factors such as political, legal and technological factors put direct impact on the outcomes of the company. The market intelligence helps TPG Company to determine and measure these factors to attain long term goals and objectives in international market. The market research also provides information about the marketing trends and choices of the customers. In this way, it is stated that market intelligence and market research help the Corporation to attain mission and vision in the competitive market (Chaffey & Smith, 2013).
The above mentioned analysis shows that TPG Company is managing its business operations successfully but still it needs to improve its marketing strategies to capture the entire market of the country. For this purpose, the firm needs to focus on the marketing strategies worldwide. It will help to accomplish the desired targets and goals. Some of the marketing strategies that can be used by the firm are discussed below (Ottman, 2017).
It has been noted that TPG is one of leading and growing leader in Australia that provides internet and telecommunication services and products globally. The firm is introducing new and innovative products and services to tap the entire market. It provides internet products and services at suitable prices. The organization launches its internet services and products on the basis of segmentation strategy (Russo, & Rizzi, C. (2014). In demographic segment, TPG focuses on the age, income level, lifestyles and background of the people who shows their best interest to buy the internet products and services. After the various researchers, it has been analyzed that Australians use internet and telecommunication services to run the business and to communicate with other people. In today’s era, the firm is offering these products at discount and lower prices to attract lower income people. It is complex to select the most appropriate target market for selling of the internet products and services. Therefore, effective planning is done by the firm to divide the target audience in the global market. By using the low cost strategy, TPG has been able to maximize its operating income and market share (Hinterhuber & Liozu, 2015).
The can use value proposition strategy to attain sustainability and earn maximum outputs. Value proposition refers to an innovation and feature intended to make a company or product attractive and effective to the customers (Chaffey & Smith, 2013). This strategy outlines that how TPG Company fulfill the needs and requirements of the customers by analyzing their demands in the competitive market. The firm is developing and improving its value proposition to provide great and unique life to the consumers. Strong commitment and employee engagement are done by TPG Company to implement value proposition in the marketplace. It has been studied that effective and attractive values and core competencies are delivered to its consumers by maintaining strong and unique relationship with partners, suppliers and customers. Value proposition is one of the significant strengths for TPG Company to reach its target audience in the competitive market. By using this strategy, the organization has been able to fulfill the demands and requirements of the customers (Ballantyne, Frow, Varey & Payne, 2011).
It is noted that positioning strategy determines the strengths and weaknesses of the company. The main aim of this strategy is to permit a firm to spotlight the particular areas where they can beat the rivalries. This strategy plays a fundamental role to tap the entire market in the country. It indicates that how company’s unique and effective services satisfy needs and requirements of the consumers. In today’s modern world, each and every company uses positioning strategy to maximize the productivity and efficiency (David, 2011). As the same way, TPG group uses this strategy to increase and enhance the level of satisfaction of the target audience. This strategy helps in differentiating the services of the company form the competitor’s services and products. The core values are considered the main and primary strength of the firm that allow the firm to deliver the high quality of internet services for the target audience (Halimi, Chavosh & Choshalyc, 2011). The organization operates its business with honesty and integrity that help to improve and enhance the morale and confidence of the customers towards the organization. The above mentioned components help TPG Company to strive and cope with the rivalries in the international market (Roberts & Zahay, 2012).
To attract and retain maximum number of customers in the market place, TPG Company should focus on the marketing strategies by implementing 4Ps of marketing mix. The marketing mix for TPG group has been stated below (American Gastroenterological Association, 2011).
Product: It is noted that TPG Company provide wide range of internet and telecommunication products such as ADSL2+NBN, Fibre optic, internet protocols and various telephonic services to the consumers. It has been noted that diversification is done by the company while providing products and services to its international customers. The company distinguishes its products from the competitors to develop and improve the quality and characteristics of the internet products and services. Before implementing the business operations and activities, the organization should focus on the product strategy to introduce new and innovative products in the global market (Chevalier, Lamas, Lu & Mlinar, 2015).
Price: It is one of the significant and fundamental strategies that shall be used by TPG group to differentiate its prices from the rivalries. It is implied that pricing strategy provides competitive advantages to the customers across the world. It is analyzed that TPG group must focus on the pricing strategy like psychological strategy and market penetration strategy to grab the entire market. The firm should set reasonable prices of the internet products so that maximum number of the customers can purchase the products of the organization. Special offers and discounts shall be provided by TPG group to make happy the customers in the global market as it also maximizes the outputs (Lindemann, 2014).
Place: This strategy determines and analyzes the sales and profitability of TPG Company. The place strategy should be attractive and unique to attract the large number of population in the international market. The organization should use an effective and unique distribution network to offer the products and services in the global market (Ottman, 2017).
Promotion: It is noted that advertisement and promotion shall be done by TPG Company to develop brand awareness in the competitive market. The organization should use personal selling, direct marketing, advertising and promotional strategies to make a strong reputation and image in the telecommunication industry. The promotional and advertisement strategies help the Corporation to increase the customers in the marketplace (Christopher, 2013).
Process: Effective and unique process must be used by TPG group while rendering the services to the consumers (Russo & Rizzi, 2014).
Physical evidence: The physical evidence must be collected by the firm to make products and services more attractive and unique.
People: Effective and unique team with unique skills and knowledge shall be appointed by the company to carry out the business activities effectively (Armstrong, 2014).
Conclusion
The above mentioned analysis shows that marketing plan is essential to explore and expand the business actions globally. Before making marketing plan, TPG Company focuses on the external and internal environment to beat the rivalries in the market. The firm has been able to fulfill the demands and requirements of the customers by rendering high quality of internet products and services. Here is the discussion about the marketing mix strategies of the firm that helps to launch a new internet service in the international market. It is noted that TPG has been able to become a global player in the Australian market by using unique marketing strategies. It shall be noted that the company should make investment in promotional and advertisement process It will also help to attain rivalries benefits against its competitors.
References
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