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The Mobile Phone Market in China - Essay Example

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From the paper "The Mobile Phone Market in China" it is clear that the marketing strategy believes that incentives-based marketing will be the primary driver for growth and revenue-building since it is adaptive to the notorious price-inflexible consumer related to electronics…
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The Mobile Phone Market in China
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? MARKETING STRATEGY The mobile phone market in China BY YOU YOUR SCHOOL INFO HERE HERE The mobile phone market in China Introduction China represents a newly industrialized country that is providing new opportunities for expansion and growth of businesses that develop and market mobile phones. With new industrialization capacity and growth in education and jobs availability, consumer discretionary incomes are rising in China that has created a new breed of buyer. China is emerging from its traditionalist past and taking a more capitalistic approach to lifestyle, considering ostentatious and generic consumption to be lifestyle fulfilment opportunities. At the same time, there is a heavy reliance on group affiliation and group membership in China that continues to feed growing consumption demand ratios for mobile phone products as a means to stay connected with other Chinese family members and peer acquaintances. There is also a growing demand for mobile services in the business environment for executives and generic employees alike, representing a whole different market segment other than just the middle class Chinese buyer. Therefore, there are multiple market segments that are available for targeting which will require the creation of an integrated marketing campaign for business and generic consumer markets. China, however, is a saturated market for mobile phone marketers, with such competition as Nokia, Motorola, Toshiba, Panasonic and other local Chinese manufacturers under partnership with NEC and other Chinese service providers (Myers & Yuan, 2008; Wang, 2005). This must be taken under consideration prior to market entry as unit volumes of competitor mobile phones have exceeded 134 million in 2008 (Fu, 2007). Subscribership to mobile services of varying variety has reached 480 million in China by 2008, a 20 million unit increase since 2007 (Fu). Thus, in order to be competitive in this market, the business must develop a marketing strategy that targets key demographics using a marketing strategy that is differentiated from competition and caters to local market needs. In 2006, Mitsubishi was forced to exit the Chinese mobile market due to a lack of acceptable market presence and failure to adopt marketing strategy to fit the local Chinese consumer (Myers & Yuan, 2008). Toshiba also was forced out of the market in 2006 after a joint venture with Nanjing Patina Wang Zhi Corporation was unable to meet market demand (Myers & Yuan). These are important factors to consider that have opportunities for new market entry and also to illustrate the importance of consumer influence in the Chinese mobile market. Despite the saturated presence of competition, research has identified much significant potential for revenue growth in China if the business develops an appropriate integrated strategy that targets multiple buying groups. The goal is to maintain an image of local market fluency that fits the psychographic profile of Chinese consumers related to their lifestyle, preferences, and social tendencies. This report provides research data on the Chinese consumer, the mobile market, competitive practices, and describes opportunities for short-run and long-run revenue growth in this difficult NIC market with ample consumer market availability. To succeed in China, the business must be flexible, innovative, and also invest considerable capital into promotion and advertising. 2. Background analysis on China The Chinese market currently maintains a 34.5 percent growth in mobile phone usership, with an increase of 20 million year to year in subscribership to mobile services (Fu, 2007). Growth in mobile phone usage has occurred by new industrial developments, new job opportunities, and also the balance of payments equilibrium that exists in China associated with import and export volumes and capital expenditures. The Chinese government maintains a significant trade surplus with other countries, but is able to offset this through capital outflows into foreign investment (Warren & Keegan, 2009). China has been able to develop a nearly balanced system of export and import that provides limited inflation and more economic growth that can be invested, capital-wise, into new industries that provide greater household discretionary income. In order to determine the longevity of new market entry in China, it is necessary to understand the dynamics of their long-run economic systems, which is favourable for new market entry. The regulatory environment is also favourable in China, supported by a centrally planned capitalistic structure emerging from traditionalist socialism practices (Warren & Keegan). The government provides considerable freedoms and taxation incentives to businesses, especially since the Chinese private sector provides 75 percent of all national output (Warren & Keegan). Thus, the regulatory environment is becoming more in-line with Western capitalistic values to increase inflow of foreign business and remove tariffs from imported raw materials. The limited regulatory structure associated with production, marketing and consumer promotions is highly beneficial for entry. The Chinese Central Bank also purchases billions in U.S. treasury bonds as a means to ensure their Yuan currency is deflated against the U.S. dollar. Why is this? When currency depreciates against anchor currencies such as the U.S. dollar and the UK pound sterling, it invites new opportunities and demand growth for Chinese products in foreign markets. Cheaper products are in higher demand in Western countries (Carbaugh, 2009), thus improving export-led growth. By devaluing the Yuan consistently as part of monetary strategy, it allows the aforementioned equilibrium in the balance of payments to be guaranteed over the long-run. Inflation or deflation in the Chinese economy is not a long-run risk for new market entry. China is also a member of the World Trade Organization, thus adding to the reduced regulatory environment that was once dominated by Communist traditionalist government (Carbaugh). Trade barriers are being lifted on Chinese electronic equipment which does provide new competition, however the economic gains across the entire country provide consumers with much higher income growth per capita. Removal of trade barriers and high tariff costs has also opened the Chinese market to higher Internet availability, and the country now boasts 234 million Internet users (Guo, 2009). This opens potential for opportunities in distribution and sales, and also speaks testament to the consumers’ knowledge about telecommunications systems that will ease the process of attempting to promote products based on features and usability. Further, easing regulatory presence in China has given growth to e-commerce that has grown by 1,000 percent since 2001 (researchinchina.com, 2010). Consumers are used to and willing to purchase products via electronic means, thus again providing new revenue-building opportunities post-entry and over the long-run of the entire marketing strategy, giving longer life to the mobile product life cycle over time. The Chinese gross national income (GNI) is comparable to the rest of the developing world at approximately $3,255 (Warren & Keegan). To compare to other markets of similar proportions, Chile maintains a per capita GNI of approximately $3,256 whilst Russia maintains a GNI of $3,400 (Warren & Keegan). Thus, China as a middle-income country represents considerable buying power and also is experiencing explosive income growth year-to-year. The diversity of the educational and career infrastructure in China does not provide short- or long-term risks associated with potential revenue growth once establishing a foothold as a market leader in mobile services in this country. The market structure, as it relates to distribution, is largely horizontal, providing adequate opportunities for raw materials production if the business is to manufacture products on mainland China. Singapore, a rapidly developing infrastructure for Asian distribution, provides considerable opportunity for telecommunications-based raw products at relatively low prices due to waterway port development in Singapore and India. All in all, there is an ample infrastructure for distribution of supplier products and for finished product all throughout the urban centres of China in partnership with local country capabilities. As far as getting the product to market, there are ample opportunities via ground, air and water transport services. Because of the high presence of foreign investment in China, these distribution channels have been well-developed and the business can essentially piggyback on these existing systems of local and foreign-based distribution services such as Federal Express and UPS. To gain perspective on the consumer buying power in China as it exists today, automotive SUV’s account for 40 percent of sales to automakers (Warren & Keegan). Additionally, Visa maintains nearly 200 million customers who have access to credit with monthly salaries of $300 or more in China (Warren & Keegan). Consumers have access to credit, tend to make large purchases, and all of this on the back of brand-conscious consumers who are interested in being exposed to Western product brands. Despite the difficulties of increased competition, even though some have underperformed in sales over the years, it represents an ideal consumer market based on income levels and income growth patterns. A recent survey of Chinese consumers showed that 73.8 percent prefer paying with credit or debit cards and only 28.1 percent through cash-and-carry practices (Suomi, 2007). Since the typical mobile phone is priced between ?30 and ?100, there does not appear to be risk to ensuring revenue growth through credit-based transactions in this country. 3. PEST Analysis The PEST diagramme represents political, economic, social and technological barriers or success factors that will determine success in this marketplace. The following is an analysis of these factors as it pertains to new market entry. 3.1 Political factors It was previously identified that China is moving toward a more democratic culture, though still driven by traditionalist values modelled after Communist Russia. This has given consumers a larger voice in government and they continue to protest in favour of democracy. Government’s inclusion into the World Trade Organization has removed many of the locally-driven regulations associated with import and export activities, therefore much more liberal business-favouring policies are in place to invite more foreign direct investment. China, until 1997, experienced problems with dumping activities, which is the sale of an imported good at a price much lower than charged in the domestic environment (Warren & Keegan). This caused problems competitively from foreign mobile phone companies (and other product marketers) that were being dumped into China to undercut domestic industries. The country’s State Council developed the Antidumping and Antisubsidy Regulations in 1997 as a means to halt unfair foreign product pricing that eroded domestic stability or the stability of early market movers from other countries (Warren & Keegan). Thus, over the long-run, political influence in reducing competitive barriers to free trade and marketing has given China a more Westernized type of business environment where price gauging is severely reduced. Democratic and labour-related protests in 2002 led to labour reform and changes to the country’s constitution that permit more flexibility in free enterprise (Boone & Kurtz, 2005). Prior to 2002, the country experienced ongoing politically-motivated bribes and similar tactics related to labour payments and as a means to control free business practices (Boone & Kurtz). However, because of the ongoing demand for a more democratic society that provides better working conditions and incomes, it has changed consumerism in a way that will favour new market entry by the business. The Chinese government, however, does still attempt to restrict content by establishing Internet-based controls as it relates to consumer usage of telecommunications systems and e-commerce (Lu, 2005). However, there is uncertainty about evolution in regulation in these sectors as e-commerce and Internet usage are a new model of lifestyle in China, thus this should be considered a low-priority risk for sales and distribution. 3.2 Economic factors “Chinese consumers are notoriously price sensitive” (Suessmuth-Dyckerhoff, Hexter & St-Maurice, 2008, p.1). A survey of over 1,000 Chinese consumers revealed that 80 percent would consider price over all other factors when buying electronic equipment and would be willing to defect to another brand is prices rose more than five percent (Suessmuth-Dyckerhoff, et al.). It has been established that this is a saturated market for mobile phones and thus consumers have considerable buying power, using Porter’s Five Forces model as a template for comparison. High presence of competition for relatively homogenous products has given Chinese consumers the ability to choose brands, thus impacting the pricing structure of many different competitors. The propensity of Chinese consumers to be price sensitive and the presence of their price-related inelasticity are of concern when setting competitive or profit-building pricing schemes. Thus, incentive-based marketing as a means to gain price-sensitive buyer loyalty might be required as this is an economic condition that has pervaded in Chinese culture for nearly a decade; showing little sign of changing as it relates to electronic purchases. A study of the electronic marketplace indicated that companies in China found less revenue success when they did not establish some form of loyalty programme. This involves coupons, club cards, or member cards as incentive marketing (Chen, Zhang, Yuan & Huang, 2007). Despite the growth in consumer incomes, this particular market and its high presence of competitive forces supply consumers with much more buying authority and companies that cater these price-sensitive markets must develop an appropriate hook if pricing reductions are not achievable against strategic profit goals. It was previously established that the government understands how to balance economic policy to ensure equilibrium that avoids inflation or deflation so that consumers can experience more purchasing power in multiple product categories. It should also be noted that 15.2 percent of consumers surveyed regularly utilise banking transfer services and nearly 60 percent of middle income consumers have at least one credit card (Suomi, 2007). Access to credit availability is a significant risk mitigation factor related to the economic trends in China since this usually dictates the overall strength of the total Chinese economy. 3.3 Social factors China is a collectivist nation, unlike the U.S. and U.K. that are more individualistic in society. Collectivist societies give greater thought to group welfare, family structures, and usually place group needs ahead of their individual needs (Blodgett, Bakir & Rose, 2008). Chinese consumers are impressed by reciprocation of favours and respect for elders and traditionalist beliefs. This will likely impact the scope and content of advertising as it must appeal to collectivist values; it is likely that Western ad materials simply transferred to China will meet with limited success. This is supported by Mitsubishi’s departure from the Chinese mobile market for failing to adopt local cultures and principles in their marketing literature. Chinese consumers also appreciate ostentatious consumption as a means to exploit their income status in the social stratification system. “There is a strong tendency for Asians to consumer luxuries conspicuously to show their social status and wealth” (Xihao, Yang, Zhou & Hui, 2003, p.43). Chinese consumers appreciate the feedback and approval that they receive from their peer reference groups and often base their purchases on mobile devices and other electronic gadgetry based on this influence. This, too, will impact the content of advertising if it is to be adaptive to local cultures and social values. Interpersonal influence is a large part of the Chinese group consciousness. 3.4 Technological factors Research did not uncover any considerable risks to procuring technology, raw materials for manufacture, or software-based deficiencies in this country. China Unicom, as one example, signed an agreement with Apple Inc. to sell their iPhone 3G (University of Pennsylvania, 2009). Wi-Fi functional mobile devices are common in China with ample service subscribership to ensure transmission and upgrading electronically to a variety of technological devices. There are a variety of different mobile services in this country to ensure adequate and non-disruptive telecommunications practices (network availability). There is an adequate e-commerce distribution option in this country supported by high growth in Internet subscribership, which was already identified. Consumer-to-consumer and business-to-business platforms exist such as the TaoBao sales environment online that acts much like E-Bay to allow business and personal sellers to communicate and receive electronic transactions. The TaoBao network maintains many similar competitors and consumers are e-literate, thus no technological risks associated with e-commerce exist in this country. Companies such as Microsoft, Apple and IBM are also established in China, thus providing ample server technologies and computer applications to serve the mobile business needs. There is also usage of business planning software and development expertise in China, such as SAP and BRP systems that provide a wide range of customized business planning. These systems link production with sales, research and development, procurement, billing, and marketing planning in a single, integrated system platform. The presence of efficient information technology support also removes technological risks for new market entry, ensuring that all e-data needs can be supported as the business expands or develops a manufacturing base in mainland China. In fact, many Chinese information technology architecture developers are expatriate talents from India, one of the largest technology human capital centres in the world due to high American investment in this region over the last decade. Gaining software and support for improvements to the business model poses no risk whatsoever. 4. SWOT Analysis The SWOT analysis identifies the strengths, weaknesses, opportunities and threats associated with new market entry into China for the mobile sales. 4.1 Strengths Competitive failures – Failures of many different mobile providers has reduced some of the larger, brand-established competitors from achieving market success in China. Removal of competitors is a strength as it gives the business more opportunity for innovation in advertising and promotion without concern over mimicking mobile providers. Being a late entrant into this market provides the ability to scan the entire competitive market and develop unique advertising content that is differentiated from what previously has been done and what has failed competition that was driven out of the market. Heavy youth-based loyalty – The mobile phone market is dominated by teens and young adults in China that are demanding sophisticated mobile technologies; and are willing to pay the extra price (Johnson, 2005). The youth in China is a disposable youth, meaning that they generally replace their outdated mobile phones after only one or two years, thus providing replacement revenue growth. Following a Western model for cost reduction – Hailing from Europe, this business maintains much of the knowledge and marketing expertise related to Western brands. “The Chinese have learned a lot about Western culture through media and travel and they want to expose themselves to this” (Emmons, 2002, p.8). This fascination with Western brands has been seen in the mobile market and in the Ocean Park theme attraction, modelled after Walt Disney World in the United States. Many Western brands find sponsorship and product sales success in this environment due to ongoing delight with Western product brands. Strong knowledge of culture – Knowledge of what drives Chinese consumer purchasing behaviour may set the business ahead of competition. This knowledge will help in psychographic segmentation to help gain attention from multiple consumers related to their priorities, lifestyles and interests; a form of lifestyle segmentation (Rodoplu, 2008). 4.2 Weaknesses Late market entrant – Revenue building may take time due to the well-established brand presence of competition in order to build brand equity and brand recognition. China maintains a geographically-dispersed mid- and high-income demographic that could make segmentation and targeting ad literature more costly and difficult to distribute. Limited expertise in Chinese dialect – Guo (2009) suggests that in order to succeed in promotion and e-sales, a business requires a Chinese website in Mandarin and other local languages. The business will require outsourced support to assist in developing language-sensitive web content for sales, promotions, and incentives marketing online. Pricing issues – It may be difficult to establish an adequate pricing model since operational costs of Chinese country manufacture is a cost burden. At the same time, import costs for home-manufactured goods will erode profit expectations without pricing established to offset it. The price-sensitive and price-inflexible Chinese consumer could add difficulty in establishing an appropriate pricing model. 4.3 Opportunities E-commerce – The largest opportunity is making use of e-commerce, online credit transactions, and the TaoBao network to establish a brand presence. Growth of 1,000 percent represents significant opportunity for distribution and promotion and the TaoBao network, as a sales platform, only charges five percent of sales under one million pounds; with discounts offered to larger sellers (china.org.cn, 2008). It is a cost effective and high user platform. Internet promotions and incentives – The business can utilise the high Internet followership in China from multiple segments to ensure higher revenue growth and brand presence. Incentives coupons associated with retail outlet and online transactions for the mobile phone will satisfy the price sensitive buyers. Strategic alliances or joint ventures – By consulting with major players such as Nokia or providers such as China Telecom, the business can gain access to capital, expertise, or dual-branding campaigns in sponsorship and other activities for competitive advantage and expansion/revenue growth. 4.4 Threats Uncertainty over exchange rates – Though generally historically stable, the Yuan is currently being debated internationally regarding monetary policy that could impact inflation or consumer discretionary income levels. This needs to be watched. Ease of market entry – De-regulation and low costs of entering the Chinese market provide limited barriers for market entry that can grow competition over time. Sophisticated mobile user profiles – Chinese consumers are now demanding more high-tech features and benefits in mobile phones such as cartoons, videos, celebrity screen savers, and games (Johnson, 2005). These are costly and often are protected with licensing agreements and intellectual property protections. 5. Recommendations The business, upon entry, must review competitive pricing efforts to establish a pricing structure that will satisfy profit expectations and also satisfy the price-sensitive buyer in China. Development of Chinese-language websites for promotion and purchasing, in conjunction with the TaoBao network, should be preliminary market entry steps performed within the host country. A pre-branding campaign is required to build brand awareness, with a history of the company’s experience with Western culture, along with incentives for making a first-time purchase of the mobile devices. All advertising content must contain phrases and images that appeal to group membership and affiliation using Chinese actors, in Chinese language, in order to adapt successfully to local cultural demands and lifestyles. Guerrilla marketing experts, using local talent at low cost, should also be performed in local regions to gain more brand visibility and distribute the incentives coupons and discounts, along with branded promotional merchandise. These street teams can consult with consumers, gain valuable market data on preferences and mobile user profiles, to help develop an appropriate set of service packages and also gain consumer behaviour knowledge prior to establishing a long-run foothold in this country. Recruited Chinese youths who will handle the guerrilla marketing will be promised positions with the mobile provider once it has developed its retail centres to ensure more motivation to fulfilling the guerrilla marketing successfully. The feedback from surveys, questionnaires and observations from local talent will provide adaptive strategies for forward advertising and promotion. Contact will be established with major cell phone competition to explore potential for joint ventures or strategic alliances immediately. The business will require access to capital and these agreements can provide instant ability to provide product, open multiple retail centres, and develop the web-based and e-commerce capabilities for new market entry. Representatives from the home country will act as short-term expatriate executives to handle these negotiations and also scan the environment for appropriate retail space for immediate entry into major urban regions. More research into youth-based lifestyles will be conducted by expatriate leadership as well as consultation with primary research sources describing the contemporary youth profile to ensure proper targeting of advertising literature. If games, cartoons, and graphics are required to gain this large markets’ attention, how these features are utilized and supported by the buyer group is required. These are costlier features to include in mobile services, however this youth audience represents significant revenue opportunities and thus must be the target of this integrated campaign. This marketing strategy believes that incentives-based marketing will be the primary driver for growth and revenue-building since it is adaptive to the notorious price-inflexible consumer related to electronics. It will benchmark best practices of success stories in the mobile Chinese market and also eliminate model failures associated with competition that was driven out of the Chinese market by non-adaptive and other strategy deficiencies. By utilising a price positioning on the back of incentives promotion, it should not take long to establish brand loyalty with more profitable target markets in China. References Blodgett, J.G., Bakir, A. & Rose, G. (2008), A test of the validity of Hofstede’s cultural framework, The Journal of Consumer Marketing, 25(6), p.339. Boone, L. & Kurtz, D. (2007), Contemporary Marketing, 12th ed. Thomson South-Western. Carbaugh, R.J. (2009), International Economics, 12th ed., South-Western Cengage Learning Chen, J., Zhang, C., Yuan, Y. & Huang, L. (2007) [internet] The nature of the emerging C2C electronic market in China: A case study from social network theory and CRM perspectives. [accessed October 26, 2011 at http://www.ifipwg94.org.br/fullpapers/R0052-1.pdf] China.org.cn. (2008) [internet] TaoBao.com launches online shopping mall, Shanghai Daily, p.1. [accessed October 26, 2011 at http://www.china.org.cn/english/business/239421.htm] Emmons, N. (2002), Hard work key to success at Ocean Park Hong Kong, Amusement Business, 114(46), p.8. Fu, A. (2007) [internet] China mobile phones step into the world [accessed October 25, 2011 at http://www.articlecircle.com/pdf/article-59263.pdf] Guo, S. (2009). [internet] How to advertise your website in China, Business Week. [accessed October 25, 2011 at http://bx.businessweek.com/china-marketing/view? url=http%3A%2F%2Fwww.chinasuccessstories.com%2F2009%2F06%2F08%2Fadvertise-website-china%2F] Johnson, S.K. (2005). [internet] American entertainment content to launch on Chinese cell phones [accessed October 24, 2011 at http://www.prweb.com/releases/2005/05/prweb235855.htm] Lu, Z. (2008), Internet development and e-commerce barriers in China, Chinese Business Review, 4(7), p.38. Myers, S. & Yuan, L. (2008). [internet] China’s mobile phone market – market barriers for Japanese vendors, THT Business Research [accessed October 27, 2011 at [http://www.thtresearch.com/WhitePapers/THTResearchWhitePaper_%20ChinaMobilePhoneMarket.pdf] Researchinchina.com. (2010). [internet] China e-commerce profit model report 2006-2007 [accessed October 25, 2011 at http://www.researchinchina.com/htmls/report/2008/3468.html] Rodoplu, K. (2008) [internet] Psychographic segmentation, School of Applied Technology and Management, Bilkent University [accessed October 25, 2011 at http://www.tourism.bilkent.edu.tr/~benice/restonews/page52.doc] Suessmuth-Dyckerhoff, C., Hexter, J. & St-Maurice, I. (2008) [internet] Marketing to China’s new Traditionalists, Far Eastern Economic Review. [accessed October 26, 2011 at http://www.mckinsey.com/locations/greaterchina/mckonchina/pdfs/marketing_to_china.pdf] Suomi, H.L.R. (2007). [internet] E-commerce development in China: opportunities or challenges?, p.4. [accessed October 26, 2011 at [http://bx.businessweek.com/china-marketing/view?] University of Pennsylvania. (2009). [internet] The iPhone in China: will Apple connect with the world’s biggest mobile market? [accessed October 24, 2011 at http://knowledge.wharton.upenn.edu/article.cfm?articleid=2335] Wang, J. (2005), Youth culture, music and cell phone branding in China, Global and Media Communication, 1(2). Warren, J. & Keegan, M. (2009), Global Marketing, 5th ed. Pearson Prentice Hall. Xihao, H., Yang, J., Zhou, L. & Hui, M.K. (2003). Symbolic value of foreign products in the People’s Republic of China, Journal of International Marketing, 11(2), p.43. Read More
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