Market Growth Potential and Competitive Analysis

Market Growth Potential and Competitive Analysis

AT&T has unlimited market growth potential, but it will all depend on how well the company promotes its products and services. Worldwide, there is high competition for mobile phones and services, so this market is very competitive and somewhat closed for other companies to enter. Here domestically, there is a lot of competition so the company has to make an impactful impression with their product and services. When entering into a new market in a foreign country, the business needs to research the area. Questions should identify what religion, locals practices, what the eating preferences are, and what the cultural background is for that country. In depth, preliminary research will allow the company to launch a promotional campaign specific to that area as an introduction of the company.

Segmentation

AT&T has to make some paramount marketing decisions before launching the MKT-7. These decisions deal with segmentation and the strategies that will work best. Segmentation must first be defined to know what options there are. Segmentation is defined as “the aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action” (Investopedia, 2014). Separating potential consumers into groups allows the businesses to target those groups based on shared needs and wants. For AT&T the options for their segmentation are as follows:

Demographic Segmentation

Demographic segmentation divides consumers based on different features such as age, gender, education, occupation, marital status, and family lifecycle (Gilligan & Wilson, 2009). This segmentation type is used by the companies that want or need to segment their consumers. AT&T will market towards an older consumer base, mid-twenties and older. Marketing toward those employed in a business setting may allow AT&T to tap into the market of the newest advanced cellular services and...