The customer profile which is selected for this particular assignment is the B2C means the Business to Consumer profile. Similarly the product category which has been chosen is the Mobile phone category.
Current Market Situation:
The world wide mobile phone industry consists of all the digital and analog handsets which come under the heading of mobile technology. An estimated amount of around $ 101 billion was generated as total revenue from this industry in the year 2008. This is enough to understand that this is a billion dollar industry. The growth potential in the industry is enormous and to support this fact if we analyze the period across 2004-2008 it shows that the compound annual growth rate (CAGR) of the industry was 12.2% which proves that the industry is growing (Datamonitor 2009).
As far as the market prospect is concerned it is on the rise, researchers have forecasted that by the end of the year 2013 the total market volume of the mobile phone industry would increase to 1.5 billion units. Apart from that the total market of the mobile phone is estimated to be worth around $ 157 billion which in comparison to the year 2008 shows a growth of 55.3 % (Datamonitor 2009).
The above mentioned facts and figures show that, a substantial amount of future growth is present in the market. Another thing which can be analyzed from these facts is the reason why there is so much growth opportunity in this sector. The simple answer to this question is that now days mobile phones is no longer a luxurious item, rather it has become a necessity of life. Since it has become an essential part of life automatically its demand has increased and the companies involved in this business are fulfilling the customers’ needs well that is why such a high percentage of increase is observed (Datamonitor 2009).
Australian Market Overview:
The Australian mobile phone market is predicted to touch a volume of 11 million shipments which is an increase of 30.1% since the year 2002. The Australian market is in the development phase as far as the growth factor is concerned, but one healthy indicator which could be seen here is that the mobile phone penetration has rose up to 63% as there has been an increase in the network coverage (Datamonitor 2008).
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