StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Marketing Segmentation and Marketing Strategy - Coursework Example

Cite this document
Summary
The paper "Marketing Segmentation and Marketing Strategy" discusses that the number of Smartphone users is increasing day by day, and even the students are using Smartphone. Managing time for studies and other activities would be easier for them if they have Personal Time Manager on their phones…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.2% of users find it useful
Marketing Segmentation and Marketing Strategy
Read Text Preview

Extract of sample "Marketing Segmentation and Marketing Strategy"

?Marketing Plan for a Mobile Application Business Plan Table of Contents 5. MARKETING PLAN 3 5 Marketing Segmentation 3 5.2 Competitor Analysis 4 5.3 Buyer Behavior 6 5.4 Size of Target Market 7 5.5 Marketing Strategy 7 References 9 5. MARKETING PLAN Most of the time management applications (apps) focus on ascertaining and managing the time spent on projects that are related to work, professional purpose or at office. The time management apps available in the market are concerned about managing the official functions and fitting them in the schedule. However, considering the present lifestyle of the people, who spend their time in late night parties, take many coffee breaks, and handle extensive stress, time management plays an important role even outside their professional life. There is extensive requirement of a holistic time management applications in the market, which Personal Time Manager would be able to fulfill. It would be able to assist people to plan out their official and personal activities (Blythe, 2009). Apart from managing the office projects, the time management apps would be also helpful in tracking progress and reminding the user, whether his/ her daily goals are met or not. A single app capable of managing, tracking and reminding every detail would be surely a unique selling proposition (USP) for the company. Moreover, this app would be able to grab the customer base of those apps which do not have multiple usages. This section would be including a comprehensive analysis of the marketing plan for Personal Time Manager. Aspects like market segment, target customers, competitors, buyers, and strategies would be also included in the domain of this marketing plan. 5.1 Marketing Segmentation Market segmentation is a part of the marketing strategy which assists in segregating the consumers in homogeneous groups based on their needs, preferences, and other criteria. Though there are many products for which segmentation is not required because these are manufactured for the mass, but in this case the product or service is a paid time management application for Smartphone users, such as for customers using Iphone, Android based phones, Mac or iPad. Segmenting the market would assist the company to choose and identify the segment that they want to target for their product or service. However, users of mobile applications can be segregated on the basis of their age, gender, income level, as well as usage (Brassington and Pettitt, 2007). The users or customers can be segregated on the basis of their income level, need for time management, and frequency of usage. Income level is considered because generally students do not prefer to buy apps for mobile phones. They rather download freeware from internet; while professional prefer to have paid services because they find them secure, original and convenient. Further, they also extensively require time management apps to fit in every function within scheduled time. The frequency of usage in such cases is high. Even companies buy such apps for their employees, and it is used consistently in the organizations for scheduling daily operational functions (Buono, and Savall, 2007). 5.2 Competitor Analysis The market of mobile applications is extremely competitive because there is abundant availability of mobile apps. Even when there are various freeware in the market, there is a wide user base for paid time management and productivity apps. In such a scenario, Personal time Manager will face difficulty in the market (Evans, Ahmad, and Foxall, 2009). Personal Time Manager would face competitors like Microsoft OneNote, SmartTime, Microsoft CloudOn, OmniFocus, SpringPad, Wunderlist 2, Google QuickOffice Pro HD, MediaFire, Astrid tasks, Google Docs, Evernote, Remember the Milk, Any. DO, Toggl Online Timer, TeamWeek, Spotify, Checklist Wrangler, Shopper, Remind You, Things, and many more (Mobi Thinking, 2013). Most of these applications assist the mobile users to keep track of their time, tasks, documents and online files, but none of them can claim to be absolutely an all-in-one app because they do not manage every task, documents, and time simultaneously. Applications like Microsoft OneNote are available to the users at $4.99, while Microsoft CloudOn is a free application (Mobi Thinking, 2013). Another significant issue is that there are various freeware in the market, which are offered by well-known companies are absolutely free in the market, such as Microsoft CloudOn, Wunderlist, Google Docs, Evernote, Remember the Milk, and Any. DO. However, brands like OmniFocus, QuickOffice Pro HD are costly, as they are sold for $19.99 (Evans, Ahmad, and Foxall, 2009). The highest revenues earning apps are by the social networking and communication apps companies. Business and productivity tools are fourth in the list, with approximate revenue of $2,782, while medical, maps and navigation; fitness apps generate greater revenue than this (Mobi Thinking, 2013). Now revenue also varies on the basis of usage in countries. Like it has been noticed that apps users are more in countries like USA, UK, Russia, and China (Mobi Thinking, 2013). Industries such as real-estate, telecom, banking and finance, retail, healthcare, etc are few who generate maximum revenue through mobile applications (Mobi Thinking, 2013). These few statistics are enough to indicate the significance of Personal Time Manager in the market and the level of competition it would have to face. It can be said that there is ample scope for good business, but competition is high. (Foxall, Goldsmith and Brown, 1998). 5.3 Buyer Behavior According to a report by Nielson, most of the apps developers focus only on the Smartphone users, while they ignore the feature phone users. It has been found that most of the apps users are generally from countries like Australia, Brazil, India, China, UK, USA, Russia, etc. However, the question is what portion of users would also go for paid apps because it has been noticed that mostly the users prefer to have freeware than paid services (Jobber, and Fay, 2006). However, the attitude of the buyers towards paid apps is changing, and this can be put forward with the help of information derived. It was found that around 80 percent of the customers agreed that they discard the free apps for paid apps when they have a bad user experience for their smartphone. The volume of data is increasing, and buyers are looking for secure apps to manage and save them. 71 percent of CMO’s in the companies are not prepared for the data explosion (Hindle, 2008). There are different segment of buyers or smartphone users in the market. The buyer behavior however, depends on which segment the marketer chooses for his/ her product because this will further assist in ascertaining the probable demand, and estimated revenue. There are users of freeware as well as of paid apps services. Demand is there for both paid and freeware, but the frequency of usage, and requirement would ascertain whether the customers are willing to have the app for their phone or not. Time management is such a significant issue for customers that they are opting for paid apps which can manage their time-table and fit in leisure and work together for them (Kotler, Armstrong and Wong, 2008). 5.4 Size of Target Market The target market for Personal Task Manager would be the companies and the business clients who can easily afford the app for their employees for completing projects on time. Even the working professionals would be targeted as prospect customers for this app. They are the ones who face most of the difficulties in managing professional and personal life. According to a report by Nielsen, there are around 1.2 million apps users around the world (Mobi Thinking, 2013). Most of the apps users are from Asia Pacific, Europe, and North America. It is estimated that by 2017, this market size would be of around 4.4 million users (Hein, 2013.). It has been found that there are around 6.8 billion mobile subscriptions around the world, of which 17 percent of the users opt for paid subscriptions or applications, which signifies that is a huge untapped market which Personal Time Manager can target. The target clients can be universities, and colleges, who can buy for their students, and teachers (Mobi Thinking, 2013). 5.5 Marketing Strategy As far as the marketing strategy for Personal Time Manager is concerned, the company should promote the all-in-one feature of the application. Professionals would want to have one application managing their whole routine rather than have various applications blocking most of the space in their Smartphone for doing the same job. This would unnecessary slow down the phone. The number of Smartphone users is increasing day by day, and even the students are using Smartphone. Managing time for studies and other activities would be easier for them if they have Personal Time Manager in their phones. The company needs to plan out a strong marketing and promotion framework for Personal Time Manager. This app has all the combined features of many apps present in the market. People would be willing to buy it instantly in order to reduce occupied space of various other apps for different activities. However, spreading awareness is important. Personal Time Manager can be put forward as a replacement of many apps which occupy large space in phones, make the operating system slow, and also invite malware and virus. In spite of stiff competition, there is ample scope and demand for an all-in-one time management tool or app like Personal Time Managers. All the company has to do is to eliminate the clutter and make its way in the market through creation of brand value and recognition. References Blythe, J., 2009. Essentials of marketing. 4th ed. New Jersey: Harlow Prentice Hall. Brassington F., and Pettitt, S., 2007. Essentials of marketing. 2nd ed. New Jersey: Harlow FT Prentice Hall. Buono, A. F., and Savall, H., 2007. Socio-economic interventions in organizations: The intervener-researcher and the SEAM approach to organizational analysis. New York: IAP. Evans, M. Ahmad, J., and Foxall, G., 2009. Consumer behaviour. 2nd ed. New Jersey: Chichester Wiley. Foxall, G. R., Goldsmith, R. E., and Brown, S., 1998. Consumer psychology for marketing. 2nd ed. London: International Thomson. Hein, R., 2013. 9 Top iPhone and iPad productivity and time management apps. Network World, [online] Available at: < http://www.visionmobile.com/blog/2012/11/which-apps-make-money/> [Accessed 3 June 2013]. Hindle, T., 2008. Guide to management ideas and gurus. New Jersey: John Wiley & Sons. Jobber, D., and Fay, J., 2006. Foundations of marketing. 2nd ed. London McGraw-Hill. Kotler, P, .Armstrong, G, and Wong, V., 2008. Principles of marketing. 5th, New York: Prentice Hall. Mobi Thinking, 2013. Global mobile statistics 2013 Section E: Mobile apps, app stores, pricing and failure rates. DotMobi, [online] Available at: < http://www.visionmobile.com/blog/2012/11/which-apps-make-money/> [Accessed 3 June 2013]. Pappas, A., 2013. Which apps make money? Vision Mobile, [online] Available at: < http://www.visionmobile.com/blog/2012/11/which-apps-make-money/> [Accessed 3 June 2013]. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Marketing Plan for a Mobile Application Business Plan Coursework”, n.d.)
Retrieved from https://studentshare.org/marketing/1479827-marketing-plan-for-a-mobile-application-business
(Marketing Plan for a Mobile Application Business Plan Coursework)
https://studentshare.org/marketing/1479827-marketing-plan-for-a-mobile-application-business.
“Marketing Plan for a Mobile Application Business Plan Coursework”, n.d. https://studentshare.org/marketing/1479827-marketing-plan-for-a-mobile-application-business.
  • Cited: 0 times

CHECK THESE SAMPLES OF Marketing Segmentation and Marketing Strategy

Market Segmentation in Apple

Cyber Marketing,” Apple Inc distributes technological innovations and new products to the market, their targeting, e- marketing segmentation and positioning strategies be different from customary marketing methods in terms of a better segmentation for the reason that customer behavior can be tracked quicker, be easily understood and therefore, further sufficiently recognized and lastly targeted.... “The resulting decisions about resource allocation and marketing programmes are likely to be much better directed as a consequence of the segmentation study” (Baker & Saren 2010)....
4 Pages (1000 words) Dissertation

Strategic marketing

In order to enhance the position of 'Caffeine Light Dry Cider', Strongbow might utilize push and pull strategy resulting in augmentation of its market demand.... The prime objective behind this strategy is to establish itself as... The objective of this paper is to recommend various marketing mix strategies with due regard to the execution of 4P's Framework.... Along with this, various other marketing strategies will also be suggested to Strongbow Cider with the view to enhancing its dominance over other market leaders....
5 Pages (1250 words) Essay

International marketing

In today's environment, a lot of segmentation has been done in every industry and for every product (Segmentation strategy, n.... ? Appropriateness of marketing Internationally Nowadays, concern of appropriateness is always in center of the minds of international marketers.... International marketing requires being very relevant and appropriate otherwise the products will become disasters.... Critically discuss, using appropriate examples, the variety of segmentation options available to the international marketer....
3 Pages (750 words) Essay

Segmentation, Targeting, and Positioning Strategy of Coca Cola BlK

The example of BlaK cola shows that extensive research often requires for an effective segmentation and targeting.... marketing segmentation, Targeting and Positioning strategy of Coca Cola BlaK Your name ………………….... Introduction This piece of research paper is an attempt to address the theoretical underpinning of segmentation, targeting and positioning strategy and analyze this with example of Coca Cola BlaK.... The STP strategy of Coca-Cola BlaK Segmentation strategy Coca Cola BlaK has been one of the major designs that Coca Cola developed to recover its declining sales during 2005....
4 Pages (1000 words) Essay

Tesco Plc Strategy Analysis

Mullins (2010) says that a marketing strategy primarily focuses on effectively allocating and coordinating marketing resources and activities in order to accomplish firm's objectives within a specific product market (Mullins & Walker, 2010).... The critical issue that concerns the scope of a marketing strategy is specifying the target market(s) for a particular product or product line (Mullins & Walker, 2010).... Market segmentation refers to the process of dividing the total market for a product or service into groups with similar needs such that each group is likely to respond favorably to a specific marketing strategy (McDonald & Dunbar, 2004)....
3 Pages (750 words) Coursework

Market segmentation as a basic ingredient of the marketing strategy

The idea of this research emerged from the author's interest in how market segmentation is a basic ingredient of the marketing strategy for the sake of different products and services in an organization that caters to the needs of the customers and varied stakeholders.... It allows the business companies to find out where they are going wrong and how best to maneuver so as to achieve their intended goals and objectives This research will begin with the statement that strategy of marketing is known by the name of market segmentation....
7 Pages (1750 words) Essay

Online Retailing Case Study

This enables the execution of a relationship marketing strategy.... Marketing CommunicationDell Inc uses two main communication modes in its marketing strategy that is; the internet and calls.... ell Inc makes direct sales or direct marketing in the market place so as to keep up with the pace of the competitors.... Market segmentation is the foundation of Dell marketing operations, and through these segmentations, the Dell Corporation establishes its positioning and changes its offers for every segment's client....
3 Pages (750 words) Case Study

Marketing Segmentation Strategy of British Airways

The author of the "marketing segmentation Strategy of British Airways" paper discusses the structural and operational barriers that could arise in the implementation of the segmentation strategy at British Airways and how the company has overcome these barriers.... It helps in well-informed decision making and is a fundamental marketing concept.... Segmentation as a marketing tool involved dividing the market into homogenous groups (segmentation), selecting one or more segments (targeting), and devising a marketing program for the selected group (Danneels, 1996)....
12 Pages (3000 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us