Customer Continuity and Growth Assignment Sample
Introduction
Customer continuity and growth is considered to be the primary aim of every organisation in order to increase its market share in the global business context and for this reason companies adopt various strategies and approaches to accomplish organisational goals and objectives. In this report, a detailed analysis will be made on the communication strategies used by the British Telecommunications (BT) group as well as on the marketing objectives of the company.
Company background
The BT Group is a multinational telecommunication company headquartered in London, England and the company successfully operates in 180 countries providing high speed internet, mobile services and Information Technology (IT) services. The BT Group is the oldest telecommunications company in the world and the company has also provided the first commercial telegraph service (Refer to Appendix-1). On the other hand, the company has 99,700 employees throughout the world and the company has generated an annual revenue of £21.370 billion in 2021 (Bt.com. 2022). Adam Crozier is the Chairman of the company, Philip Jansen is the Chief Executive of the company and Simon Lowth is the Group Finance Director of the BT Group.
Critical analysis of BT Group’s communication strategies with respect to marketing objectives
Method of analysis with the help of theoretical frameworks
The Ansoff matrix
The BT Group is required to focus on improving its existing marketing objectives through strengthening its communication network which will prove beneficial in expanding the customer base of the company. The management of the BT Group may follow the Ansoff matrix to generate desirable outcomes in the long run where emphasis is to be given on the four dimensions including market penetration, product development, market development and diversification. In other words, following the Ansoff matrix may provide an immense assistance to an organisation in reducing the possible risk factors through adopting diversification strategy (Loredana, 2017). The BT Group needs to give emphasis on improving its communication strategy which will certainly play a vital role in the success of the company in implementing effective marketing strategies which will ultimately aid in developing new products and services for the customers throughout the world. Additionally, communication plays an extremely important role in the overall marketing practice and for this reason it has to be enhanced through providing skill development programs to the employees of the BT Group.
Figure 1: The Ansoff matrix
(Source: Loredana, 2017)
4 P’s of marketing
The BT Group is required to make several changes in its marketing strategies to generate impressive results in the long run and for this reason the company is required to pay attention towards enhancing its target marketing strategies. On a broader note, adopting an approach after segmenting the market provides assistance in developing products and services related to the needs and demands of the customers (Camilleri, 2018). Following a customer centric strategy will definitely improve the quality of business of the BT Group through implementing strong communication with the customers which may be done through taking regular customer feedbacks. Furthermore, maintaining a strong communication with the customers will also provide an added advantage in retaining the loyal customers and also help in attracting new customers in the future. It may be implied that communication plays a vital role in encouraging innovation within an organisation where several aspects related to marketing are taken into consideration for expanding the existing business (Prikhodko et al., 2019).
Figure 2: 4P’s of marketing
(Source: Camilleri, 2018)
Identifying the possible gaps
There has been an issue of communication gap within the different departments of the organisation which has generated various issues and problems and has affected the reputation of the company in a negative way. On a contradictory note, stakeholder management is regarded as an essential pillar which directly impacts organisational success by improving the quality of corporate activities to a great extent (Pedrini and Ferri, 2019). Lack of communication has impacted stakeholder management in a negative way which has directly impacted the growth and development of the BT Group in the international context. Moreover, changes in leadership styles and approaches are to be done as quickly as possible to avoid the gaps in the field of leadership which will definitely impact the overall marketing practices of the BT Group in a positive way in the future. It may be implied that implementing an effective communication strategy enhances the overall management of a company which eventually improves performance and productivity of a company (Skyshliak, 2018).
Figure 3: Effective ways to improve communication
(Source: Skyshliak, 2018)
Strengths and opportunities
The BT Group has a diversified workforce which is definitely strength of the company as it improves the quality of work in the organisation and the company has a huge customer base which is also strength of the company. Apart from this, the management of the BT Group is required to pay attention towards the changing market requirements and trends in a careful way to identify as well as utilise the available opportunities to further generate desirable results in the future.
Outcomes of the analysis
From the above discussion, it may be clearly stated that the BT Group has various issues which needs to be overcome through implementing effective communication strategies along with making changes in its leadership styles and approaches to retain its existing loyal customers. The management of the BT Group is also required to make necessary changes in company rules, regulations and policies to further enhance the levels of stakeholder engagement which will be beneficial in gaining competitive advantage in the global context. However, internal communication of the company is to be developed and strengthened to maximise the productivity and performance of the employees of the BT Group.
Conclusion
In a concluding remark, it has to be opined that communication plays a critical role in enhancing the overall business of a company through adopting suitable marketing techniques and approaches and the BT Group is no exception to it. The management of the company is required to make several changes in its communication pattern which will certainly prove effective in improving the marketing strategy of the company in a highly competitive world.
References
Bt.com. 2022.Home | BT Plc. [online] Available at: <https://www.bt.com/about> [Accessed 8 March 2022].
Camilleri, M.A., 2018. Market segmentation, targeting and positioning.In Travel marketing, tourism economics and the airline product (pp. 69-83).Springer, Cham.
Loredana, E.M., 2017. The use of Ansoff matrix in the field of business.Annals-Economy Series, 2, pp.141-149.
Pedrini, M. and Ferri, L.M., 2019. Stakeholder management: a systematic literature review. Corporate Governance: The International Journal of Business in Society.
Prikhodko, K., Danilevskaya, E., Savina, K. and Shupenko, R., 2019. Innovative opportunities and reserves of contemporary marketing communication.
Skyshliak, O., 2018. The importance of communication in business management (Doctoral dissertation, Тернопіль: ТНЕУ).
………………………………………………………………………………………………………………………..
Know more about UniqueSubmission’s other writing services:
