Bharti Airtel assignment Introducing Televisions in Indian Market
Question
Task: How is Bharti Airtel assignment planning to introduce televisions in the Indian market, and what marketing strategies are they employing?
Answer
Introduction
In the contemporary business environment, globalisation has significantly increased, giving rise to intense competition. Firms are now required to introduce innovative products or enter new markets for surviving in the long run. The purpose of the report is to carry out a marketing plan for the case company Bharti Airtel assignment to introduce televisions in the Indian market.
Bharti Airtel assignment has emerged as a leading global telecommunication company. It offers ICT services in different parts of Europe, Africa, Asia-Pacific, USA, India and SAARC regions (Airtel, 2023). The mission of Bharti Airtel assignment is ensuring extraordinary customer experience through different services of telecommunication, ICT and mobile network. This makes a suitable choice for the marketing plan.
The entire report has been divided into various segments. The first segment provides a brief overview of the chosen company Bharti Airtel assignment . The second section has carried out an environmental and competitor analysis using different strategic models like PESTEL, SWOT and Porter’s Five Forces. Here, infographics have also been provided for making readers better understand about the business environment. The third segment has developed segmentation, targeting and positioning strategies for Bharti Airtel assignment. Lastly, marketing mix strategies have been provided for introducing the new product segment in the chosen market.
Environmental Analysis
External Analysis: PESTEL of India
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From the above table, it is evident how various external factors generate opportunities and threats for Bharti Airtel assignment in introducing television product segment for the Indian market. Favourable governmental policies and attracting foreign investment, fast growing economy, rising youth population and enhanced digitalisation in India can prove to be beneficial for the new product segment of the chosen company. These factors can become favourable business environment and provide prospective customer base for Bharti Airtel assignment .
However, it must also be aware of not contributing towards existing environmental issues present within the market. Bharti Airtel assignment should also be cautious about different types of labour laws and minimum wages in the country alongside gathering adequate information about registering new business. Besides, income inequality can make it difficult in setting price ranges for attracting large customer base. Moreover, digitalisation can be helpful for enhancing awareness and online sales of the new product. In addition, the growing youth population can be potential target market base for Bharti Airtel assignment .
Internal Analysis: SWOT
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From this SWOT analysis, it is evident that Bharti Airtel assignment can leverage its large customer base and strong brand popularity in the Indian market for introducing televisions as its new product segment. However, its declining profits can make it difficult in making new investments in this product segment and attracting customers through proper advertising strategies. Despite this, it can take the opportunity of including some affordable TVs in its new product segment for attracting potential customers from the youth population of India. On the other hand, Bharti Airtel assignment needs to differentiate itself from the global competitors through unique products and offerings. In addition, it should also remain aware about potential cybersecurity threats to retail brands in India.
Competitor Analysis: Porter’s Five Forces Model
Buyers’ power- There are large number of TV buyers in the Indian market, which is evident from the expected CAGR 16.7% of market size of the industry by 2030 (Grandview Research, 2023). These buyers demand high-quality and convenient products and are often brand conscious. They possess high bargaining power of demanding lower prices or better features within same price range.
Suppliers’ power- Suppliers work with various popular TV brands in the Indian market and prefer maintaining good relationships with these firms. They cannot provide low-quality raw materials to these brands because of the supplier code of conduct and retaining themselves as partners of such popular brands. Thus, they possess low bargaining power in the market.
Threat of Substitution- TVs are now getting replaced by mobile phones, tablets and laptops that are convenient, portable and easy to carry (CII, 2019). These products provide both video and audio content to the users alongside gaming and work mode options. Thus, there is moderate threat of substitution.
Threat of New entrants- There are various local and international players already present in the Indian market. This makes it difficult for new brands to enter this industry and acquire trust from the customers.
Competitive Rivalry- High competition is present in this industry because of key players such as Sony, Samsung, LG and others (Statista, 2023). These are leaders in their respective segments alongside known for offering innovative products, string brand reputation and extensive distribution networks.
Infographics
Fig 1: Television Market Size in India
(Source: Sun, 2023d)
This displays the Indian television market size trend expected in the coming years.
Fig 2: India Smart TV Market Share
(Source: Economic Times, 2021)
This shows existing competition between various TV brands in India.
Fig 3: Comparison of Sony & Samsung
This shows a comparison between two top brands in the Indian TV market.
Segmentation, Targeting and Positioning (STP) Strategy
STP is strategic marketing technique that can be undertaken for planning various marketing activities of Bharti Airtel assignment for its television product in the Indian market (Kalam and Kalam, 2020). Here, the company can first implement segmentation strategy for dividing the entire Indian market into different homogeneous groups. This can be done by various bases of segmentation like demographic, behavioural, psychographic and geographic (Proctor, 2014).
Bharti Airtel assignment can use household income, education level, rural or urban, metropolitan city, brand consciousness and functional utility as some of the few variables for segmenting the entire market. This shows how some common needs, shared characteristics, similar lifestyles or similar demographic profiles can be helpful for segmenting the market (Proctor, 2014). Thus, dividing of the broad customer base into different subgroups can be beneficial for identifying prospective customers for the company’s new product segment.
After the market segmentation process, Bharti Airtel assignment needs to focus on addressing the needs and wants of its different customer segments (Kalam and Kalam, 2020). Here, identifying some most profitable segments can be helpful for the brand. The company can target customers between the age group of 24 to 45 years, who are educated and earning members of the family, both male and female. It can target these customers of the metropolitan cities like Delhi, Mumbai, Bangalore, Kolkata and Chennai from the urban areas. Bharti Airtel assignment can also target customers with brand consciousness while buying these home accessories like TV, refrigerator and others alongside the ones looking for utility and benefits in these products.
Bharti Airtel assignment can position itself as the brand introducing TV product segment for providing unique video and audio experience to its customers with updated technologies for making their lives convenient and entertaining. This can be helpful for differentiating itself from the rival firms in the Indian market.
Marketing Plan: 4P’s of Marketing
Bharti Airtel assignment needs to undertake different marketing strategies of product, price, promotion and place for introducing its television segment in the Indian market.
Product- This displays the item or service designed for satisfying customer needs and wants (Proctor, 2014). Bharti Airtel assignment intends to introduce television product segment in the Indian market. In this regard, it will offer various types of Smart TVs with unique features and experiences for differentiating itself from local and international players already existing in this market. It will provide a wide range of TV choices and attractive options to the Indian customers living in the Tier 1 and Tier 2 cities with high sound quality, picture quality and big screen size (Economic Times, 2022). Along with these, internet connectivity and cord cutting options will also be present in the brand’s products. Bharti Airtel assignment will also include different size options of TVs to enable customers place them in their living rooms (Times Now, 2023). Dolby Audio, QLED screens and OTT platform-enabled services will also be included with this new product segment.
Price- This refers to the sale price of the product, service or item that consumers pay willingly (Proctor, 2014). Bharti Airtel assignment intends to produce and market affordable TVs for the Indian customers and offering lower prices as compared to other retail shops (Economic Times, 2022). Here, a competitive pricing strategy can be considered for setting the prices of the products based on that of the competitors’ prices. These affordable and competitive prices can be beneficial for attracting customers as they can gain help with inflation and economic challenges. Indian customers are also increasingly buying affordable smart TVs because of decreasing prices, which can be leveraged by Bharti Airtel assignment for raising awareness about its new products (Business Insider, 2023). Thus, the firm also needs to introduce various low-priced models in the budget segments for catering to the youth population and large customer base in the Indian market.
Promotion- This strategy involves increasing awareness about the product for attracting prospective customers (Proctor, 2014). Bharti Airtel assignment will undertake different activities of advertising, personal selling, sales promotion, public relations and others. Indian TV customers prefer exciting offers like discount coupons, extended warranty, convenient exchange or refund facilities and exchange offers on old TVs (Economic Times, 2022). These can be provided by the firm for catering to their preferences and expectations. The firm can also offer various loyalty programme and membership card benefits to its existing telecom users and customers for its new product segment. It can also use various social media platforms for reaching out to larger audiences through Facebook, Instagram, LinkedIn, YouTube and others. Thus, various offers, discounts and convenient options can be used for attracting target customers from the different segments.
Place- This refers to various distribution channels undertaken for providing the products to the customers. Initially, Bharti Airtel assignment can use selective distribution strategy for assessing how the new product segment is performing in terms of satisfying customers and generating sales (Pride and Ferrell, 2022). In this regard, it can place different smart TVs at its retail outlets as Indian customers prefer physically examining TVs before purchasing (Economic Times, 2022). This can help in enhancing their shopping satisfaction. Live demo and personalised recommendation can also be beneficial for retaining these customers. On the other hand, Bharti Airtel assignment needs to provide the option of online ordering and delivery at doorstep of the customers (Economic Times, 2022). This is because of their increased online shopping behaviour observed in the television industry. In addition, convenience and value should be ensured in both online and offline shopping options given to the Indian customers.
Conclusion
Firms are now undertaking various strategic marketing initiatives for ensuring their growth and survival in the long run. Thus, strengthening current market position by expanding business operations has been proved to be a suitable strategy for various competitive businesses. For this purpose, the current report has developed a suitable marketing plan for the case study organisation Bharti Airtel assignment planning to introduce its new product segment television in the Indian market. In this regard, external and internal environment analysis have been conducted with the help of PESTEL and SWOT models respectively.
These have helped in identifying various threats and opportunities available in the Indian market. Furthermore, Porter’s model has been used to show strong competitive rivalry existing in the Indian television market. Here, a comparison has been done with the help of infographics between two popular TV brands Sony and Samsung. This has displayed how these top firms offer unique products and services to their customers, thereby providing an overview of their offerings to Bharti Airtel assignment . Other infographics showing expected market size and top players in Indian television industry have also been presented. Besides, segmentation, targeting and positioning strategy has been used for identifying the target market and brand positioning statement for the firm. Lastly, marketing mix strategies have also been developed for the new product segment in the Indian market.
Reference List
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