Strategic Marketing Final Assessment. 2021

Title: Strategic Marketing Final Assessment Course: Strategic Marketing (MK5138) Programme: MSc Marketing Management Submitted by: Gauransh Joneja – 20230132 Submitted To: Nicola Barrett Date: 14/01/21 Word count: ...

Title: Strategic Marketing Final Assessment Course: Strategic Marketing (MK5138) Programme: MSc Marketing Management Submitted by: Gauransh Joneja – 20230132 Submitted To: Nicola Barrett Date: 14/01/21 Word count: 3545 I have read the University’s code of practice on plagiarism. I hereby certify this material, which I submit for assessment on the programme of study leading to the award of MSc Marketing Management, is entirely my own work. It has not been taken from the work of others, except to the extent that such work has been cited and acknowledged within the text of my work. Student ID Number: 20230132 Name: Gauransh Joneja Signature: Date: 14/01/2021 Disclaimer: In submitting this work I confirm that it is entirely my own. I acknowledge that I iMay be invited to undertake an online interview if there is any concern in relation to the integrity of my submission. Executive Summary: The main motive of this report is to find out the marketing approaches adopted by OnePlus. From the STP analysis, it can be said that OnePlus does not segment and targets a narrow market. This report shows the strategies adopted by OnePlus to sell its products (smartphones) by limiting the availability so that demand can be created. In this report, some recommendations have been given with which the company can ensure its sustainable development. In the conclusion part, the strategies that can be adopted by the company to promote and sell its products not by reducing the price of its products but also by creating the demand for products are observed. Figure 1: OnePlus Brand Logo iiTable of Contents INTRODUCTION:...................................................................................................................................... 1 MARKET SEGMENT STRATEGIES OF ONEPLUS:...............................................................................1 DEMOGRAPHIC SEGMENTATION:.......................................................................................................................2 GEOGRAPHIC SEGMENTATION:.......................................................................................................................3 BENEFITS SEGMENTATION:.............................................................................................................................3 PSYCHOGRAPHIC SEGMENTATION:.................................................................................................................4 TARGET MARKET STRATEGIES OF ONEPLUS:..................................................................................4 POSITIONING STRATEGIES OF ONEPLUS:..........................................................................................6 RECOMMENDATIONS:............................................................................................................................ 8 CONCLUSION:.......................................................................................................................................... 9 REFERENCES:......................................................................................................................................... 11 iiiivIntroduction: Segmentation, targeting, and positioning strategies are the core concept of marketing in the modern world of marketing. The effective and required growth of the organization cannot be imagined without an STP marketing strategy. STP is a technique that examines the quality of products and services and the way the company communicates its benefits to particular customer segmentation. It can be said that STP marketing means the way a company segment its market, targets its particular customer segments along with marketing campaigns tailored to their preferences, and adjust its positioning according to their desires and expectations (Camilleri, 2018). STP marketing model can be considered as an effective tool of marketing as the customer base is small parts so that it could be easy to target a specific group by applying suitable marketing strategies. STP marketing has shifted the concept of productoriented marketing to customer-oriented marketing. It helps the organizations to gain competitive advantages and to understand the ideal customers. It also helps in reaching those customers. In short, the further modified and targeted the marketing efforts, the more successful the company will be. The following report is based on STP marketing strategies adopted by OnePlus (a smartphone company) to gain competitive advantages. OnePlus is a China-based smartphone company that came into existence in 2013. The company is headquartered in Shenzhen and Hong Kong as well. The following report will show how OnePlus pierced the growing smartphone market with its strategies and experienced massive success by using Segmentation, Targeting, and Positioning Marketing strategies.