Companies should develop superior models to ensure that their products are available to more customers. Firms that fail to design proper marketing strategies will find it hard to achieve their aims. This paper describes how my company will launch a new innovative idea and implement it successfully.
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The intended innovative idea revolves around the recycling of mobile phones and marketing them to different customers. Giant corporations such as Samsung, Apple, and Nokia have been innovating and manufacturing phones that meet the needs of many users across the globe. This kind of model has resulted in the dumping and overproduction of mobile devices that are no longer in use (Juarez 118). My idea is to collect, repair, and ensure that such phones are available to every customer.
The success of this idea will depend on the segmentation strategy put in place. The approach will focus on these two aspects: demographics and geographic regions (Čorak and Šnajder 53). In terms of demographics, adults who have adequate education will be targeted. The second aspect is that of income. Individuals who earn low wages and salaries will be identified. These two demographic groups will purchase the targeted phones and make the company profitable. It is agreeable that such individuals belonging to these segments appreciate the issue of environmental conservation (Zeriti et al. 53). The marketing approach also meets the financial needs of these customers.
The most appropriate initiative for this venture is the focus (or concentrated) strategy. This means that a single-segment approach will be considered to deliver recycled mobile phones and handheld devices to the identified individuals. The reason for selecting this decision is that my company is small and has limited capabilities/resources (Schwarzl and Grabowska 192). Another argument is that the model is appropriate for implementing a simple marketing mix, increasing sales, and fulfilling the changing needs of buyers.
Baker indicates that competition is something that should never be ignored by firms and entrepreneurs (28). My business idea is expected to attract increased rivalry from existing companies such as Samsung and Apple. This is the case because these corporations produce superior mobile devices that resonate with the expectations of many customers. The second source of competition is from existing small businesses that market smartphones. It will, therefore, be appropriate to implement a powerful differentiation strategy to deal with this challenge.
Differentiation and Positioning Strategies
To achieve every objective, it will be necessary to develop a powerful differentiation model. The main focus will be the issue of sustainability. Every recycled and repaired mobile phone will retain its original quality and deliver additional benefits such as reduced prices. The reason for using this differentiation strategy is that more people will be informed about the importance of recycling. The idea of environmental conservation is also supported by this strategy (Fogel 84). In terms of positioning, the targeted buyers will be informed about the importance of using recycled mobile phones instead of purchasing new devices. They will understand that every marketed product is affordable, promotes sustainability, and tackles the problem of climate change.
This statement will be used to support the marketing strategy implemented by my company: To every person who appreciates the concept of sustainability, our recycled mobile phones will allow you to achieve numerous objectives while at the same time maintaining the integrity of the natural environment.
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Baker, Michael J. Marketing Strategy & Management. 5th ed., Palgrave, 2014.
Čorak, Danijel, and Ivica Šnajder. “Marketing Strategies and Their Application in Small and Medium Enterprises Emphasizing the Modern Methods.” Vallis Aurea, vol. 2, no. 1, 2016, pp. 51-60.
Fogel, Daniel S. Strategic Sustainability: A Natural Environmental Lens on Organizations and Management. Routledge, 2016.
Juarez, Fernando. “Community Strategic Relationship and Marketing to Foster the Development of Communities and the Sustainability of Organizations.” International Journal of Psychological Research, vol. 9, no. 1, 2016, pp. 113-125.
Schwarzl, Susanne, and Monika Grabowska. “Online Marketing Strategies: The Future is Here.” Journal of International Studies, vol. 8, no. 2, 2015, pp. 187-196.
Zeriti, Athina, et al. “Sustainable Export Marketing Strategy Fit and Performance.” Journal of International Marketing, vol. 22, no. 4, 2014, pp. 44-66.