Innovative Marketing Strategies
For developing an effective marketing strategy, as categorized room Figure 1, three dimensions need to be structured well which are where to compete, what to offer and how to compete. The necessary specifies are indicated under each dimension, and the particular aspects that need to be reassessed or re-directed are indicated as well within the table, which will be demonstrated later in detail. Explanation of symbols: Compete aspects need to be changed Where to In term of where to compete: economic situation, business environment and market selection are three useful indicators for enterprises to base its product-market investment decisions on.
Macroeconomic background will to to be influenced by one trade of Monika. However, with regard to Finland, even with the handset business shrinking, the tax paid by Monika still occupied 20% of Finnish GAP by the end of 201 1 (“The Monika Effect,” 2012). Whether the corporation tax form Monika lessons or the cooperation between two companies will boost Ionians development, to Finland this deal will have a long-term influence. Environmental analysis for business involves different subjects with no bounds, among which, three most useful indicators are: technology trends, consumer trends and government/economic forces (Asker, 2011).
Since these trends can’t be manipulated, its a fair game to any contemporaneous enterprises. It’s noteworthy that, innovation policies of Finland, where Ionians headquarter is, are converging (Halve, Lindy, Appertain, Salesmen and White, 2014). Hence, until now, there are no particular changes between these two aspects above, that Monika should put forward to the marketing strategy with regard of its qua session. What to Offer (SACS) However, market selection for Monika, based on analyses of consumer and competitor, needs redirection due to one of the assets – mobile business has no longer been existed.
Without a former key success factor, Monika need to develop a more well-conceived strategy which can neutralize the loss to maintain and enhance its ability to compete with other competitors. With more disposable capital and less products, Monika need to focus on redefining scope dynamics either to expend market or product, or do both. Towards what to offer, both customer value proposition and assets & competencies offered by Monika has been changed. Almost everyone has had one Monika mobile phone at one stage over the past 15 years (German, 2013).
The recognition from consumers that low-price but high-quality products can be offered by Monika would fade with the absence of mobile devices. In other words, Ionians customer value proposition is facing crisis. Recently, there were even rumors spreading online about Ionians death (French, 2014). In the light of assets and competencies, the situation of which even worse, package selling devices and services division with big bags of patents, Monika will also need to transit over 25,000 employees to Microsoft (Molten, 2014).
Meanwhile, the second largest mobile phone market share has also been given away. As a result, internal transportation should be pursued by Monika to understand its own strengths. To seek the sustainable competitive advantage over the existing and potential competitors, Monika need synthesize the dimensions from where to compete and what to offer after losing respectable assets to re-orientate its market positioning. How to Compete As illustrating by Figure 2, with mobile business taken over by Microsoft, most people confused if Monika would still exist in the market anymore (Awareness).
According to one amendment signed be;en Monika and Microsoft, the latter company will take over the former one’s official domain as well as social media websites up to one year (Litchis, 2014). No wonder why people would think that Monika swallowed by Microsoft was reasonable (Consistence). Stand over 150 years in the market and build up a high awareness and strong associations with the brand of which, Monika owns a huge amount of fans who show loyalty to its products. However, with handset business handed over to Microsoft, Monika losing vast of customers (Loyalty).
As mentioned before, Monika used to be linked to Monika phone, the associations between both are inseparable (Associations). Although Monika mobile phone hasn’t been met customers’ satisfaction for a long time, without which, it still can’t solve the robber (Relevance). How to utilize the Brand associations Monika always own to regain customers’ awareness from its mobile product to its brand name and how to position its brand without former key products should be focused on by Monika. Cultural analysis depends on Ionians re-directed market selection for its rest products.
Distinguishing between interdependent and independent from target markets, Monika can decide what and how to sell to corresponding customers. Political turbulence though uncontrollability, should also be aware of during the strategic analysis period to avoid dwelling on it. Marketers should do strategic analysis meticulously and show respect to market countries to achieving harmonious development. Although Monika aligned with Microsoft as early as 2010 and shifted its smartened system to Windows-based, which didn’t stop Ionians market share collapsing from 35% to 3% by the end of 2012 (Anyone & Moore, 2013).
