Marketing Strategies Paper

Huawei Situational Analysis

Marketing strategies involve the organization's overall plan to reach expected consumers and turn them into organization product customers. Therefore, Huawei's marketing strategy should be made up of data concerning targeted customer demographics, value proposition, as well as key brand messaging. The marketing strategy in Huawei will help the company achieve its objectives. Additionally, a good marketing strategy will enable Huawei to develop products that can make a profit. Therefore, a market strategy will help the company to concentrate its resources on the best opportunities available.

Marketing objectives

The marketing objectives of Huawei will determine what the company wants to gain from its marketing activities. Therefore, Huawei's activities should be consistent with its overall objectives (Parola, Pallis, Risitano, and Ferretti 2018). The marketing objectives I set for Huawei Company should meet the criteria of being specific, measurable, achievable, realistic, and time-bond. The marketing objectives I will set should be able to provide enough details on what should be done. The progress of marketing objectives I set should be measured to determine the company's achievements.

Additionally, I will set the marketing objectives of Huawei that are easy to attain. On the other hand, the marketing objectives I set will be achieved within a specified time. Some of the marketing objectives of Huawei are as discussed below;

Increase market share

In order to increase market share, I would ensure that I am aware of other competitive companies. Through competition analysis, I will be able to determine where Huawei is in terms of competition. Additionally, determining the position of Huawei in the market will help in projecting where I would like the company to be. The targeted increase in Huawei market share will be 20% within two years.

I will ensure that Huawei achieves an increase in market share through innovation, hiring employees with experience, and strengthening the customer relationship. Through innovation, Huawei Company will develop phones with new technology that other competitors have not yet discovered. This will attract a lot of customers who want to experience the latest technology. By attracting customers, Huawei's market share will increase. Therefore, these customers will become loyal to Huawei, and this will help in increasing market share.

Through strengthening Huawei customer's relationships, Huawei will be able to maintain its current market share. This can result because customers will not shift their loyalty to another company. On the other hand, experienced employees will ensure that customers attain products that meet their expectations.

Increase growth

I will ensure that Huawei increased its growth by opening new branches. These new Huawei branches will help ensure potential customers in different areas are aware of products offered by Huawei. Additionally, the branches will ensure that all customers can easily access Huawei products, thus increasing the company's revenue and growth.

Increase company profit

In order to increase Huawei's profit, I will ensure that there is a reduction of some product's cost. Mobile phones that have been in the market for an extended time will be accessible at a lower price. This will help in attracting customers who will be loyal to Huawei. Additionally, the company will increase profit by advertising products through social media. Advertising products through social media is cheap, and it is widely used by individuals. This marketing objective will be of benefit to the company.

Describe any research you would do

The research that I would conduct is regarding customer's preferences. Customers are the ones that ensure a business succeeds. Therefore, I would ensure I determine their taste by getting their opinion on different products as well as customer's interest. By determining the customer's opinion, the company will realize what has to be changed or added to the existing products. When the customer's view has been met, they will become more satisfied.

On the other hand, I will also ensure I have realized the customer's interest. Through determining their interest, I will be able to discover the new technologies that usually attract customers. This will ensure that Huawei Company is able to develop products that will create high market demand. Therefore, the research I conduct will be beneficial to Huawei Company.

Describe your target market(s)

It is essential to understand the practical facts about Huawei's business for it to grow, attain new customers, and ensure the services are effective. Therefore, to achieve the targeted market for Huawei and increase income, it is essential to create awareness of its products. Awareness can be created through marketing, which is critical in each and every business. Therefore, I can come up with various marketing activities to increases awareness of Huawei services. Additionally, the marketing strategy has to keep on changing to ensure that customers, as well as potential customers, don't get bored by the same strategy. The new marketing strategy should be able to attract the required number of customers, be cost-effective and time-efficient.

Therefore, I will use various marketing strategies to ensure I meet the targeted market. These marketing strategies include; relationship marketing, scarcity marketing, and undercover marketing. These marketing strategies will be beneficial to Huawei company ad are discussed below;

Relationship marketing

This strategy can be identified as a strategy that encourages long-lasting as well as a strong connection between customers and a product. This strategy will ensure that Huawei benefits through repeated sales, collecting customer information, and encouraging promotion through word of mouth. Additionally, through the relationship marketing strategy, I will be able to provide information to customers concerning their interests as well as needs.

Undercover marketing

Undercover marketing can be defined as a marketing strategy that is usually focused on hidden marketing activities. I will use this marketing strategy to ensure that the Huawei marketing team is sent to places where there are target customers to talk about Huawei's products as spontaneous activity. This will ensure that our targeted market does not realize they are being marketed. The benefit of this marketing strategy is that it will help create grassroots buzz, which can go viral.

Scarcity marketing

Scarcity marketing is usually more focused on the fear of customers to lose freedom of choice. This means that when a product is not available, it usually becomes more attractive. Through this marketing strategy, I will ensure that Huawei uses limited time offers to boost sales. When there is scarce time to buy a product, customers will start acting faster.

I will ensure that the targeted market for Huawei products will bring profit to the company. The targeted market will be based on customers who are likely to purchase products (Rodrigues et al., 2017). Therefore, the targeted market includes; institutions, young individuals, and high-income individuals.

Institutions within the area

Institutions are usually likely to purchase products with new technology to enhance learning, for example, laptops that are fast and have better properties. Therefore, by developing products that are beneficial to institutions, Huawei Company will satisfy the need.

Young individuals

Young people are usually attracted to new technologies. This is because new technology can allow them to access different platforms, such as social media. Due to this demand, Huawei can satisfy their needs by continually upgrading products to new technology.

High-income customers

Individuals with high income usually purchase new products in the market more. Therefore, Huawei Company will target these individuals because they can purchase new products at high prices. These individuals will help in improving Huawei's company profit.

References

Parola, F., Pallis, A. A., Risitano, M., & Ferretti, M. (2018). Marketing strategies of Port Authorities: A multi-dimensional theorisation. Transportation Research Part A: Policy and Practice, 111, 199-212.

Rodrigues, C. G., Engle, C., Garcia Neto, B. F., Amorim, R. V., & Valenti, W. C. (2019). The effect of choice of targeted market, production scale, and land tenure on the economics of integrated tilapia-prawn production. Aquaculture Economics & Management, 23(2), 204-217.

Three factors to consider before formulating a marketing strategy. (2018, January 14). Marketing91. https://www.marketing91.com/factors-formulating-marketing- strategy/

Marketing planning - Strategic planning in marketing - MBA knowledge base. (2015, May5). MBA Knowledge Base. https://www.mbaknol.com/management- concepts/marketing- planning-strategic-planning-in-marketing/

Chapter 2: Developing marketing strategies and a marketing plan. (n.d.). Quizlet. https://quizlet.com/414556831/chapter-2-developing-marketing-strategies- and-a-marketing-plan-flash-cards/