Business Management Sample
Company chosen – Sprint corporation
With the advancement of the technology, the rise of internet has changed around everything from daily lives to communications to business operations and global networking that is vital to note. The telecommunication companies providing the mobile connectivity services and the various types of internet plans are facing a large competition from each other in the twenty first century and Sprint corporation is one of the biggest names in the United States of America. With a earning of 33.60 billion in United states dollars in the year of 2019, it is one of the telecommunications leaders in the country and its competitors in the industry are Verizon and the AT & T communications. The sprint corporation is known majorly for its Code-division multiple access (CDMA) network. With several options such as the Sprint link, Internet of things services, the web services and the telecommunication relay services, this American multinational giant have a number of consumers from different sections of the society and the culture with different needs. The brand perception of this carrier company is moderate to high depending on the area it covers and the network coverage it gives that is important to understand (Jung and Xiong, 2017). The services provided by the company in the wireless domain includes the sprint smart velocity, prepaid groups and the branded services by Sprint such as the data and the voice services on the smartphones and other basic phones. Owing to its great range of services and the high range of marketing communications done by the company, the customer base of the company is quite high which stands at somewhere around 54.3 million and this increasing adds up, due to the branding. In the previous years, the Sprint company had a different name that is the Brown Telephone company and later on, the name changed to Sprint (Heracleous and Werres, 2016). Fast internet connectivity and high-quality voice services are the major and the main unique selling points of the business corporation that is to be critically analyzed later. Although AT & T as well as Verizon have a strong brand perception in terms of the internet service sales of different kinds and types plus plan but in the recent years, with technology upgradation and cost-effective plans, the company Sprint corporation has been able to close the gaps that is vital to make a point here (Duong, Schönherr and Zhang, 2019). In this study, the company background, the marketing communications used and the gaps in them will be analyzed in terms of the company performance in terms of sales and revenue generation.
The parent organization of the Sprint corporation is the T-Mobile primarily and also the Softbank group. The corporation chosen here has a market share of 16 percent which is only third after Verizon (31.3 percent) and AT &T (26.6 percent) and so in many ways, the company is gaining a strong market share in the country owing to its strong customer reviews and the brand trust. The culture of the company is strictly customer centric and that is demonstrated by the telephonic support as well as in the store customer care support (Manne et al. 2018). The company was merged with the T-Mobile only in the year of 2020 and this merger has helped the company grow to great limits, as far as brand perception and brand equity is concerned. After a lot of regulatory agreements, settlements and approval meetings, the long process of the merger between the two well known telecommunication companies of the country came to a merger only in the above-mentioned year. There network integration of the two companies led to high marketing of the 4G long term evolution services that gained a strong customer base which is to be understood. As for the marketing mix integrated by the company, the rebranding and customer care staff training was at the very core of the same for smooth and high-end service and post-sales support delivery to its clients (Gale, 2017). One of the products that was heavily marketed by the company was the ‘simply everything plan’ that has the features of unlimited messaging, unlimited messaging and the voice services at a very affordable price that is critical to note. The Sprint corporation over the decades have used defensive marketing strategies such as the mergers and the acquisitions which includes Nextel communications, Gulf Coast Wireless, Alamosa Holdings, Enterprise Communications, Velocita Wireless to rebrand its company and increase the market share in the United States of America. The rebranding has helped the company gain new market share, create new jobs and in upgradation of new technologies that has attracted customers and stakeholders from different market segments. Thus, creating a differentiation in the consumer perception about the company, is the core of the integrated marketing communications of the Sprint communications. Therefore, at the crux of the marketing mix of the Sprint corporate, there is brand marketing that involves three major components which are external marketing, customer experience and the internal culture of the organization (Allred, King and Amos, 2018). The internal and the external marketing strategies of the company is based on many human centric values such as the respect, diversity, collaboration, agility, integrity and the novelty factors of continuous quality improvement and innovation.
Applying the four Ps of marketing theory, the integrated marketing mix used by the Sprint communications has been discussed in this section, critically. As for the product ‘P’, a range of products and the services are offered by the company like the wired and the wireless ones (Garcia, 2018). The different consumer friendly plans, internet and voice services as well as the broadband services provided by the company marks its product diversification strategy to attract new and old customers for new products.
As for the place ‘P’. the strategy applied by the company it has a very large distribution network throughout the world across one hundred and fifty-five countries. As its users are the government agencies as well, so government facilities have also been given to the company for marketing and business (Kim, Kim and Kang, 2016).
As for the pricing ‘P’, it has tailored unlimited plans for the Virgin mobile, Boost mobile, absolutely tailored to the needs of customers in different areas and demographics. It follows a flexibility policy in terms of call rates and internet charges, in accordance with the prepaid and the post-paid services.
As for the promotion ‘P’ strategy, the company uses public relations, rebranding and personal selling heavily to market its services and the products to the clients and potential consumer segments. VerBrugge-Rhind was reported the sponsor of the advertisement campaigns used by the company. Trigger and tailor marketing strategies are used by the company in the promotional mix and integrated communications mix that helps gain the immediate attention of the consumers (Yang et al. 2016). And when the queries are placed, a good customer care team performs direct marketing to sell the new and old products to new and old customers.
Additionally, as for people ‘P’, Employee performance is monitored, shaped, and directed towards a better customer experience that is vital element of the company culture at the Sprint corporation. Investments in new technologies like the 5G have increased its shareholder values and the brand equity in great manner and the cultural marketing is critical to the communications mix of the company chosen here.
Discussion of the findings from analysis
In the last five years, as per the business reports, the company has invested greatly in the big data to analyses the market needs and then used behavioral marketing tactics in the communications and promotions mix, to attract and register the consumers as customers. The company has also launched the new models of iPhone in its digital and physical stores, The chosen company has paired up with the Apple for the launch of the new models at telecom or carrier charges that is exclusive of Sprint has been one of the most important pull marketing strategies in the recent years (Lepore, 2017). One of the most important marketing strategies used by the company is Sprint’s Mobile Advertising Program. Through this program, it has provided advertising support to new affiliates and partners by using its own market and networking chain and this way and the company has marketed itself in many different ways. The promotional mix as it can be understood is targeted at gaining new customers and the partners that will increase its brand presence and the equity in every way. The digital marketing component of the company is very strong resulting in the large number of the sales generated through telephonic calls and the websites and technology leadership is at the core of the integrated marketing communications (Nwogugu, 2015).
However, there are certain weaknesses and gaps that are faced by the company such as comparatively lesser market share and decreasing number of WiMAX subscribers. As the current market is also saturated, there is need for new market penetration and expansion strategies that is vital to understand. Hence the company can start up new financial services and business consulting services and for all of these, new marketing strategies will be needed (Musonera, 2019). The CDMA networks are very much prone to out of the business in the future and that is why there are risks in these segments as well and that is why, new product development, technology upgradation along with new communication mix and marketing strategies are needed by the company.
New, Integrated Communications strategy
At first, the traditional marketing communications must be redesigned in a proper manner that is particular manner. The banners and the hoardings regarding the new offerings should communicated through paper and electronic posters on the major junctions of cities of united states of America and other countries. The in-store promotions of the Sprint products and services are also particularly important are as well. Free Wi-Fi, hosting in-store quizzes and other events, putting up banners and flyers outside the stores, showing the product advertisements on the store televisions and giving product demonstrations to the consumers are the different marketing and communication strategies that are to be integrated in a proper manner (Curwen and Whalley, 2017). Sharing audio messages, running lucky draws and weekend give ways can also be the important marketing strategies that are to be newly integrated for better client communications and enrichment of the consumer journey. Digital signage and product related entertainment in the Sprint stores will be the new strategies to increase the sales and revenue generation. There should new product development under the labels of limited edition, personalized offers and the additional savings that will attract customers and increase the number of sales and market share as well. Thus, there are indeed a number of changes that can be done with respect to the in-store communication strategies which are to be adopted by Sprint corporation to close t5he gaps of low market share.
The internal communications of the company are as pivotal as the external communications that is vital to understand, and these are particularly focused on employee branding and supplier plus seller support activities. For the delivery of new financial, business solution and other newly improved services by products by the Sprint corporation – the employees, especially the salespersons should be trained and branded accurately. New uniforms, badges, labels, skill sets, and knowledge support should be given to the Sprint employees that will increase the internal communications and the employee performance related to personal selling and direct marketing activities in field or the retail outlets that is vital to understand. These internal marketing communications activities should be coupled with good appraisal and employment engagement practices such as rewards ad recognitions thar will help the marketing process better. Similarly, like sales employees, it is also important to brand and train the customer service staffs who will be solving the queries of the customers and be responsible for a hassle-free customer support and in-service marketing. Thus, in every way, internal communications and communications is critical to the overall integrated marketing mix of the company (Economides et al. 2020). The tagline and the logos for the new products as well clear-cut communicative messages should be planned for the television, radio and the newspapers and this will be particularly important for the brand marketing purpose in related to new products and services offered by Sprint. The newly modified communications strategy should be having all including all these above-mentioned strategies to close the internal and external gaps.
It is important that the cost reduction strategy is applied for the old technology and products that will help in market penetration with old products and this will be an important marketing strategy that can be used to keep old products, relevant to the market. Sprint corporation should be increasing the numbers of digital sales and for a robust digital marketing campaign that includes Youtube, Facebook plus the Instagram advertisement campaigns should be used by the company that is particularly important as well. It is to be noted persuading the youth often helps to increase the number of sales with respect to the other family members as well and that is why, joyful, and exciting product related advertisements should be used that includes contents such as sports, movies and career opportunities. This element of the marketing mix will help in the development of positive perception about the company’s products ads services in the young customers that is vital to understand as well. This will help gain the sales from his or her family as well and why just family, friends, and relatives too. The word-of-mouth associations should be triggered through emotional and trigger marketing strategies used by Sprint corporation. It is particularly important that the social media marketing and the conversational marketing are done effectively by the company. New processes are set in accordance with this, so that more customers in far areas of globe can be provided with the Sprint services and this will help in market expansion. For this staff training and development will again be important. These strategies will not only help in gaining new clients but also gai new partners and investors adding to brand equity and capital for growth.
Another important element of the new improvement will be involving the customers directly in the marketing process and this can be done using workshops, seminars as well by surveys. The customer feedbacks will improve the products and services resulting in more unit of sales and more volumes in a specific market. And that is why, marketing and communication strategies are to be added in a proper manner. The affiliates and the sellers should be educated and trained with the brand marketing too so that they can improve the perception about the brand in the consumer segment, they cater to. Special marketing and skills training programs should be developed for them, in order to help them gain the market share for the company. Brand marketing tactics should also be taught to them.
Social marketing strategies can involve adoption of green technologies and community development activities which cab be very useful for the Sprint corporation. There is already a khoros platform and a smart team for the same but new initiatives for children education, women empowerment, anti-racism promotions which will improve brand image and improve community perception. Customers and the business houses are rapidly moving to environmentally sustainable platforms and green technology is one of them. Consumers are becoming more aware of the environmentally clean practices done by the companies, and they favor such responsible companies. Similarly, sprint can invest in environment protection cases as a part of their corporate responsibility actions (CSR) that can be important communication made to the consumers as well.
Implementation of Strategy
As there are a number of new communication strategies mentioned, there has to be different teams and staffs responsible for its implementation. For the store marketing, the marketing staffs from the Sprint Telecom company will be responsible for the same. The salespersons, store managers will be the other stakeholders (Sarraf, 2019). From the brand marketing and internal marketing plus the communications, the human resource department will be responsible as strong hiring, training and development practices will be comparing the same.
For the social media ad campaigns as well as the digital marketing campaigns, it is important that the specialists are hired for the job. And the quality team with the huma resources should be continuously evacuating the performances of marketers and other staffs from the corporate communication departments in order to ensure the positive outcomes of new communication strategies (Kadiyala and Bergman, 2015). Hence, it can be understood, employee management and process evacuations are very vital to the betterment of new strategies in internal or external communications domain for the company. These management and evaluations are critical to the implementation.
The customer care staffs, and sales staffs will be the frontline stakeholders from the company dealing with the clients and qualified sales trained should be hired by Sprint corporation in order to help implement the new strategies better without any complications (Mousavi, Johar and Mookerjee, 2020). Behavioral training and key responsibility areas compliances should be checked in terms with the marketing roles of the staffs. Soft skills training will better the communication of salespersons involved in direct marketing.
The time for implementation of the traditional marketing strategies will be fir three months and the digital marketing campaign for the three months after. Process managers and project managers will be responsible too for implementation of the bew communication strategies for the company. A dedicated CSR team will also be recruited and developed.
Thus, there are many areas that can be seen as the most important for the communication and marketing mix, presently used and to be opted by the Sprint corporation. New product development, market expansion and cost reduction are the strategies needed by the company and a 360-degree marketing campaign is required by the telecommunications company. The company is very much dependent on affiliate marketing and also digital marketing for the sales but there are actually a number of new modifications plus additions that can be made to the marketing mix of the Sprint Corporation. As for the marketing mix, three specific strategies such as in store marketing, brand marketing and the online marketing is needed by the multinational telecommunications corporation. There is a major need for the development of employee branding activities so that they can handle and address the client needs in a more proactive manner. This is how the whole culture of the company will showed more towards better customer support and services, thus raining sales numbers and market penetration ability of the Sprint corporation in a major way.
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