Gray is a telecommunication company that aims to improve the process of communication by producing gadgets that are compatible with the current rise in the level of technology. Gray offers a broad range of services from telephony and data access by way of communication. Our products range from smartphones to other mobile gadgets, hence paving the way for communication via different avenues. Some these products can transmit data via wireless network or mobile service providers. Gray products are readily available in the market with varying prices depending on the products quality and specifications. We strive to be the best telecommuting company regarding service and product provision.
- Current Situation and Trends
Given that the major markets can be further divided into other segments namely: corporate and consumer segments, Gray’s phone brand, Cesim, continues to gain popularity. Preferences in the two markets differ about the fact that corporate are after making credible amounts of profits while the consumer segment aims at using the product for use. Consequently, some customers rarely mostly make financial decisions. In our context, Europe lies in the corporate sector whereas Asia is classified in the consumer segment. Though the prices vary from brand to brand, Asia emerges as a bigger consumer in the sense that its user section allows it to make purchases without considering profits.
In my opinion, the differences between the consumer and the corporate are less fueled by preferences for particular specifications. A customer needs a product that tends is more compatible with the latest level of technology. On the other hand, corporates aim to make enormous profits from the product by reselling it at a higher price. Depending on the profitability of the product, the corporate will choose it over other brands without minding of its specifications. In the consumer market, the phone brands do well in the sense that each type has its specification and price to fit the high end, middle and the low-income earners.
2.2. Opportunities, threats, strengths and weaknesses
Since Gray Company can produce products that are at par with the current level of technology, there is a chance to market the brand to potential customers. New grounds can be tested by using of products with a relatively small price to help gain access to the market arena.
Depending on the current market outlook, the smartphone is bound to experience deficiencies in Asia depending on the class of the consumer: high-end and low-end. With a higher population than Europe, Gray’s brands in Asia tend to vary n prices. As a result, this helps in accommodating the budget of different living classes. However, the population is sensitive to both price fall and rise especially among the low-end earners.
Europe is already a developed country. A strategic plan has to be put in place to enhance the tools used in the marketing of the products ranging from mobile phones to smartphones.
Competition from bigger established brands imposes a risk since they already have a share of the market. Getting new buyers tends to be time-consuming but pays at the end (Brown & Dacin, 1997).The population is sensitive to both price fall and rise especially among the low-end earners. As a result, different negative reactions towards Gray’s products are on the rise.
In conclusion, the alternative remedy to Gray’s product in Asia would be to adopt product design. Product design is a process that revolves around boosting the performance of a product in the market sector. Designing of goods work towards meeting the needs of the customer (Ashby& Johnson, 2013). Design can also affect the way a business operates by acquiring of cheaper raw materials that are used to generate products that the customer can afford.
Ashby, M. F., & Johnson, K. (2013). Materials and design: the art and science of material selection in product design. Butterworth-Heinemann.
Brown, T. J., & Dacin, P. A. (1997). The company and the product: Corporate associations and consumer product responses. The Journal of Marketing, 68-84.