Marketing Communications Plan for Micromax Informatics Ltd - Sample

Question: Discuss about the Marketing Communications Plan for Micromax Informatics Ltd. Answer: Introduction Businesses are created with the main aim of making huge profits margins hence ensuring they have perpetual existence. Achievement of these goals and objectives, managers, must put up strategies to be followed by the stakeholders thereby guaranteeing the success of the firms. Shareholders put their trust to the managers of their business that they will manage it accordingly ensuring its growth and development. Business success is a shared objective by all the stakeholders, and therefore all people involved in firms activities are essential for its survival. Customers are the buyers and consumers of any companies' products, and therefore they are very crucial for the survival of the firm (Villarejo-Ramos, and Sanchez-Franco, 2005, pp.431-444). Therefore, managers must ensure that the company meets the needs and demands of the customers to attract them to purchase its products. These report will focus on themarketing plan for the Micromax Informatics Ltd in India to ensure it remains co mpetitive and has high sales in the market. Technological improvement globally has led to the emergence of many firms which use the new technology to create goods and services. Micromax Informatics Ltd is a market leader in the communication industry in India and has established its name creating psyche among the customers to acquire its products. The company deals with many mobile devices and thus meeting the needs of its market in India entirely. Some of the services it offers to the customers include superb imaging, better music, Navigation, Games, Videos, Television and also Business mobility. The company controls India market and as a domestic firm it has the highest sales since its products are cheap and affordable to the many people in the country. The company was incorporated in 2000 and became Micromax Informatics Ltd. It was during this time it started selling mobile phones and offering a wide range consumer electronics, IT and telecom products to the Indian market. The firm since then has grown to a significant competitor in the market having massive sales and creating high employment opportunities. The greatest competitors of the firm are Samsung and the Apple Inc. which control 33% and 8% of the market respectively. The company has made significant innovation in technology attracting a large number of people in India. Most of the company's employees are composed of the Indians thus making it create loyalty among the people thus making them its primary market for its goods and services (Arora, and Arora, 2015, pp. 1-22). Selecting the Target audience Firms' potential customers make up the target audience. Therefore, a company must ensure that the target audience gets its goods and services to make it have high sales. It should locate its store near the customers who are the potential buyers. Micromax Informatics Ltd target audience is the citizens of India who makes its primary market. The firms must, therefore, built stores all over the country to make them available to all the potential customers. Choosing the target audience would also help the company in decision-making regarding the numbers and areas to open shops. The company must divide the country into segments which shows the location of the target market or audience (Ray, et al. 1973). Understanding Target audience Decision-Making The different target audiences have different tastes and preferences. The firms must be able to know the needs and demand of each audience to ensure that the products and services available to them meet their requirements. These would increase the sales of the company enormously. Awareness of the needs of the audience can help the firm make products that satisfy the needs of that particular audience. The firm can also know what the audience desire and therefore a business opportunity can arise for the company to cater for in the area. Different target has different purchasing power, and when the firm understands its market, it can formulate costs of products accordingly (Tidd, Bessant, and Pavitt, 1997). Determining the Best Positioning When the products of a firms are available to the different audiences, they must be placed in strategic places. These areas must be accessible to the potential customers quickly to facilitate the purchase. The Micromax Informatics Ltd should ensure that the areas of stores locations are the readily available, i.e., availability of transport means to and from the premises. Best positioning ensures that the products and services attract a large market thus increasing its profit margin. Positioning involves choosing of particular areas in the selected segments which are believed to have high numbers of customers (Dibb, 2010). Developing a Communications Strategy Marketing involves creating awareness to the potential customers on the existence of products of a firm that can meet their needs. Awareness can only be achieved by putting into account good communication strategies to reach out to the customers. Communication gives information to the buyers about a firm and its products thus attracting them to make purchases. The company must use the communication strategy which is straightforward and easy for the customers to understand to get high sales. Advertisement, personal selling, and other media should bring value to the firm regarding increasing its customer's base (Weinstein, 2004). Findings Micromax Informatics Ltd has engaged in Corporate Social Responsibility by starting programs that give back to the society. They help solve the social and environmental needs of the society, e.g., in the education sector, culture, sports, social welfare and in community development. The company has ethical principles which ensure that it operates as per the regulations. These activities make the firm's areas of operation conducive. The company has attracted a large market in India especially in the mobile sector with the majority of the people using its devices since they are cheap and of high quality (Percy, 2014). Conclusion and Recommendation The company market in India is great, but the management must always make strategies that will ensure it remains competitive. Business trends keep on changing, and therefore the managers must carry out continuously research to ensure they stay in line with the trends. Micromax Informatics Ltd should employ creative and innovative staff who can produce products that meet the customers' needs. It should always use technology in its operation to be able to increase the profit margins. Since the company brand name is respected for quality products, it should use it to its advantage to get many customers and increase its sales globally. The managers should use the high population as an advantage to increase its sales. Intensivemarketing strategies must be used to ensure all Indians purchase the firms products (Cravens, and Piercy, 2006). References Arora, S. and Arora, S., 2015. Micromax Informatics Ltd: Marketing strategy for emerging markets.Emerald Emerging Markets Case Studies,5(5), pp.1-22. Cravens, D.W. and Piercy, N., 2006.Strategic marketing(Vol. 7). New York: McGraw-Hill. Dibb, S., 2010. Market Segmentation SuccessMaking it Happen!Strategic Direction,26(9). Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Kim, W.C. and Mauborgne, R.A., 2014.Blue ocean strategy, expanded edition: How to create uncontested market space and make the competition irrelevant. Harvard business review Press. Percy, L., 2014.Strategic integrated marketing communications. Routledge. Ray, M.L., Sawyer, A.G., Rothschild, M.L., Heeler, R.M., Strong, E.C. and Reed, J.B., 1973. Marketing communication and the hierarchy-of-effects. Tidd, J., Bessant, J.R. and Pavitt, K., 1997.Managing innovation: integrating technological, market and organizational change(Vol. 4). Chichester: Wiley. Villarejo-Ramos, A.F. and Sanchez-Franco, M.J., 2005. The impact of marketing communication and price promotion on brand equity.Journal of Brand Management,12(6), pp.431-444. Weinstein, A., 2004.Handbook of market segmentation: Strategic targeting for business and technology firms. Psychology Press.