Marketing Plan - Product launch strategy Term Paper

Marketing Plan - Product launch strategy - Term Paper Example Keeping this in view, ENTOUCH telecom has decided to launch electronic online store. This will help the company in the process of attracting and retaining more customers, which in turn will result in increasing the total profits and market share of the company. Background and Relevant Issues: Telecommunication industry is one of the growing industries all over the globe. It has become one of the most profitable and worth investing industry. There is always an increasing need of different products and devices which assist people in the process of communication. Communication has become one of the important needs of the today’s global world. At the same time it is worth considering that there is considerable shift in the shopping behaviour of the customers. More and more people are shifting towards online shopping. Online shopping provides the customers with more convenience and ease. New Service Strategy and Purpose of Strategy: Owing to the increasing trend of online shopping, the company is looking forward to launch a new e-store. This online store will enable the target customers to shop for their favourite telecommunication products over the internet. ... he purpose behind this strategy is to provide the customers with ease and comfort of shopping from home and at the same time increasing the market share of the company. Business Current Offerings: ENTOUCH telecom offers almost everything which is required to make a phone system in an office or at home. There are several corded and cordless digital phones offered by the company for home and business usage. In addition to this, the company offers several telecommunication products and accessories like headphones, headsets, conferencing equipments etc. Products and accessories from the world’s renowned manufacturers are available which includes Plantronics, Sennheiser, Jabra etc. OBJECTIVES: There are several aims and targets of ENTOUCH which it is looking forward to accomplish with the launch of this new service. Five main objectives in this regard are: 1. To increase the sales of the company by 10 percent within the time period of one year. 2. To increase the market share of th e company by 5 percent within the time period of one year. 3. To increase the penetration in the New Zealand market to the level of 60 percent. 4. To enter into international telecommunication market by capturing around 5 percent share in the first year. 5. To improve the market image and reputation. SITUATIONAL ANALYSIS: Before entering into any new market segment and introducing any new product or service, it is important to thoroughly analyse the overall situation of the industry and market. It is essential for the organisation to investigate, explore, and analyse both, internal and external, environment. This is the first step in the process of designing effective marketing strategy and plan (Anderson, 1982). Industry Analysis and Key Trends: The overall telecommunication industry is