Sample Essay
Opportunity analysis:
As we have discussed above that the Australian market is currently in its developing phase that is why it is always been at the focal point industry giants. If we talk about mobile devices Australia is currently at a development stage as compared to most of the advanced European nations. As companies will increase their penetration in the Australian market because of the opportunities here the market will expand. Companies with the likes of Nokia, Motorola, Samsung, Siemens and Sony Ericsson are already operating in the market with Nokia having competitive edge over the others (Datamonitor 2008).
Areas of growth:
As in today’s environment there are constant changes in the technological world the potential for growth in this industry in enormous. Most of the companies are focusing on research and development and for this purpose specially designated R&D departments are designed. The primary objective of the R&D department is to constantly monitor the customer’s preferences, the growing market trends, customer’s needs and wants, and other factors that influence customer buying behavior. The result of this research helps the organization in designing products that fulfill the customer needs and cater what they want (Datamonitor 2008).
Abstract:
Now days the mobile phone market is one of the most unstable and turbulent market and the reason for this is because the dynamic environment, increased competition and constantly changing technological advancements. Therefore now day’s companies dwell special attention towards consumer’s buying decision process as this is the only way to anticipate what the customer wants and then try to fulfill their needs accordingly. The study of consumer’s buying behavior also helps in determining the factors that influence the consumer’s choice while going for one particular brand for other. This paper would focus on factors that influence the consumers to acquire new phone and on the other hand those factors that influence the consumers to change their phones (Bigne 2005).
Introduction:
Throughout the world in the past ten years mobile phones have become an essential source of communication. As the market is very lucrative and growing that is why there is stiff competition in it. The need of consumer research, or motives that derive customer choice, or the consumer’s buying decision process is felt very much in need today than at any other time. There can be numerous macro or micro economical factors which can influence on the consumer’s buying decision (Sanz 2005). The demographics of mobile phone market suggest that 80% of adult consumers have mobile phones and 57% of consumers between age of 13-17 possess a mobile set (Johnson 2006).
As the mobile phone industry is a technological driven industry where products keep on evolving with the change in technology so there is little time for the companies to first recognize the product according to consumer’s needs and then launch it in the market. Here the role of the research and development comes into action. As mobile phone development is based on consumers possible futures needs, therefore the company that best identifies that need of the consumer and guess the technologies and services of future, would turn out to be the market leader (Karjaluoto 2005).
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