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Market study : Mobile phones

Marketing is a crucial function in all companies and organisations. That is why market research is a very important aspect of the economy. It allows companies to improve their products and to know their competitors’ strategies in order to increase their sales revenue or the number of their customers. According to the law of supply and demand, they have to know their customers to cater for their needs and to avoid the risk of inflation. 

Mobile phone companies, just like any company, need to make their products in great quantity and lower their production costs: it will allow them to sell more. This is how they can get more customers and promote their products. Each one wants to make the best deal and to get more money from it. It is not a secret, “the customer is always right”, and since they are essential for the life of the group, companies have to bring a particular attention to them. Every company has to bring a great image of itself because customers can give reviews and recommend people to go to their company or to another one. 

Moreover, this is a very competitive market and it has been growing over the years because of an increasing demand. Customers always want the latest mobile phones because they are trendy, more reliable, and most of the time better than the one they own. Companies must always be able to know the expectations of their customers, by making enquiries or feedback reviews for example. 

Collaborators from the phone industry can attend international exhibitions to get information about their competitors’ strategies and they constantly have to think about new ideas to improve their products. When they develop new ideas, they can protect them with a patent so they can use it as an advantage against competitors’ products. For example, Apple copied the HTC one A9 phone design, while HTC and Samsung used the typical colours of Apple. It is important to notice that today, a lot of people are addicted to their cellphones, especially teenagers who always want to own the best latest phone. 

The market of cellphones is very competitive because companies are always looking for innovative ideas as well as answering to the important demand. Some companies are selling cheaper mobile phones so that everybody can afford one. Today, Samsung is the leader of the market, ahead of Apple, Huawei, Oppo and Vivo. Phones companies are making permanent efforts to stay competitive in the market and to conquer new shares by using great strategies and innovative ideas. 

That is what Samsung demonstrated by using a data platform that allows their customers to have a personalised call with the Samsung support and to feel important. Samsung has surpassed Apple and other brands. Therefore, marketing strategies need to be efficient and will allow mobile phone brands to develop. This is the best way to stay on the market and be renowned.

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