Evaluating Marketing Strategy Telstra Telecommunication Company

Question: Discuss about the Evaluating Marketing Strategy Telstra Telecommunication Company in Australia. Answer: Introduction Telstra is the largest media and Telecommunication Company in Australia and it is also known as the Telstra Corporation Limited. This company was founded in the year 1975 and the product or the services provided by them are internet or broadband services, data services, network services, mobile telephony, etc. This company has a workforce of more than 40,000 employees and their revenue was more than 26 billion dollar in the year 2016. Telstra is the4 national broadband network that operates in the entire Australia and it provides the best services to the customers of Australia. In the year 2011, the company launched their new brand identity and color scheme. Telstra is the company that provides the service to their customers to get the latest news and updates and also it provide the network service for the customers to connect through social media. This paper is about the Telstra Company and also the challenges that are faced by the company. The paper will discuss the entire challeng es faced by the company and also it will provide the best recommendation for those challenges that are faced by the company. Marketing Mix Themarketing mix is very important in today world. It helps in understanding whichmarketing strategy is correct for your organization. A marketing mix is defined as a set of plans, ideas, tactics, and techniques used by the company representatives to produce or promote a particular product or brand. Product A product is defined as any goods and services offered by the organizations to provide comfort to the customers (Pernecky, Lck, 2013). A product is something which customers buy to satisfy their needs and requirements. Telstra provides the huge range of products and services like broadband, t-hub, Telstra television. Telstra provides a huge range of broadband services. It is one of the fastest networks in Australia. Now a day people don't want to lack in their daily news and updates. Every third person is accessing in internets. They are always active in social media and this makes them connected to the outer world. Telstra is providing their customer plans in broadband services. To enlarge the number of the customer Telstra need to introduce more plans in broadband services. Price Price is the second most important thing of the marketing mix. It is defined as the amount charged to the customers for a product or services (Goi, 2015). Fixing the price is tough job. When fixing a price the organizations should keep in mind whether this cost is efficient to the customers or not, the other competitor's price, the governmental restrictions and the market value of the product. An Organization should not assume that a low price can attract customers and can have higher profits. Telstra provides both prepaid and postpaid services. Customers usually look for low prices when it comes to broadband because they keep on browsing internets. Telstra should keep in mind that the customers should get satisfied by the prices. Every person has different financial status keeping this in mind when an organization fixes a price of their products they not only attract the higher standards but they also attract the middle level and to many extent low level. The price can either increa se the demand or it can slow the demand. Promotion Promotion basically refers to the education of the customers (Baker, 2014). Promotion is the strategy applied by the organizations to aware more and more customers. When is a product produced then how everyone will come to know about the products? How will they come to know the benefits and the needs of the product? For this reason, promotion is an important part of a marketing mix. Earlier it was a bit difficult to promote the products but now it has become easy because of the advertisements in social media, televisions, newspapers and paper pamphlets through a door to door services. Telstra focuses on targeting the whole of Australia customers in becoming a leading network and this can be done by changing every time the promotion plans because people believe in something new when it comes to advertisements. Telstra is not only targeting families, students, workers but also small and large firms. Increasing internet connections by covering more and more places of Australia can prove to be best promotion plans. Place The purpose of the production of the goods is to be sold to the customers. The products must be easily available to the customers so that they does not face problem in purchasing (Armstrong et al., 2014). It is very much necessary that the product is easily available at markets and shops. The organizations need to plan that how they will distribute their products. Choosing the right market and place leads to more and more sales of products. Since place is also an important part is very necessary for organizations to decide the best and right place for the launching of their products. Online platforms are mostly used by Telstra to increase the sale of its products and services. Telstra websites are one of the best places to displays information regarding every product. Telstra has facility of both offline stores and online payment mode. The distribution of sim cards to the retail shops, supermarkets and local market can also prove to be very efficient because it will cover more and mo re areas for the customers. Partnerships To be smart in this competitive world of marketing, the partnerships with leading brand can give high exposure to the organizations (Rao, Shekhar, 2016). Partnerships can bring two companies together. Partnerships of brand can give high promotions to the products and it is beneficial for both the companies. It adds a great value to the price of the product. This strategy increases marketing exposures, saves extra expenses and also gains new market segments of customers. More products and services lead to more access to the world's market. Telstra always conducts partnership programs from time to time. Telstra includes partnerships in communications like Internet Protocol telephony, unified communications and business consulting. The partnership program gives strategic approach in doing business with the customers. People One of the major roles played in the marketing mix is people. The product produced is for the people and it is produced by the people (Kotler et al., 2015). To understand the need of the market the organizations should know the demand of the people and keep that in mind the product comes in demand. Processes This particular element reflects the different types of the techniques and tools used in the work processes of the firm (Sharma et al., 2015). Moreover, the firm is engaged in providing superior network services and thus, in order to enhance the reliability of the users, it should increase the efficiency of the network services to a great extent. On the other hand, there are a few of the issues coming between the executions of the work processes which need to be analyzed properly. The Marketing processes should be enhanced as t6o generate a great amount of the impact on the customers as to increase the customer base of the organization. Telstra is one of the fastest growing organizations and therefore, it is the primary responsibility to maintain is a brand image by enhancing the work processes. Physical evidence These include the documents used in the execution and evaluation of the marketing processes concerned (Alon et al., 2016). This document includes brochures, banner, leaflets etc. These are supposed to be the vital part of any firm as it helps in providing the preferred elevation in the business processes of the concerned organization. Contemporary Issues Contemporary issues are the issues that the organization faces in the present world due to some internal and external factors (Noel, 2015). Contemporary issues are found in almost every sector of the organization. For the organization, this is the biggest challenge that they face to stay in the competitive field of market. The different types of contemporary issues are social media interaction, innovation, corporate social responsibilities, ethical concern, globalization and environmental concern. Social Media Interaction Social media interaction is the theory of involvement of mind and emotions (Skelton, 2015). Social media is the technology in the present world that helps the people to share opinion, content, experiences etc. Social media is the latest technology for interaction and many organizations use it to interact with their customers. Telstar being the telecommunication company faces some of the issues with the social media interaction as the social media in changing drastically with the change in time. The company is facing issues in establishing their social media interaction due to the representation, responsibility, and respect that are provided by the employees to the company. The networks are not able to catch the social media everywhere due to the lack of privatization. Telstra wanted to provide transparency to their customers through the social media interaction and it is the biggest challenge they are facing. Corporate Social Responsibilities Corporate social responsibilities are the initiatives that are taken by the company to take the responsibility for the effects of social and environmental on the company (Jervis, Art, 2015). It can involve in the incurring of short-term cost which does not provide financial benefits to the organizations. The issues that are faced by the Telstar Company to maintain their corporate social responsibilities are that the economies of the country are not in favor of the company. The environmental of the country is also sometimes against the company and for that, the company in most of the time faces the biggest challenge for the corporate social responsibilities. Telstra is the leading telecommunication company in Australia and for that; they are always in the process of developing the internet and communication process of Australia which is also a challenge for the company in the changing economy of the country. The biggest challenges that the Telstra is facing in the recent years are th e rising of rivals in the telecommunication sectors. Ethical concern Ethical concern is the process to choose any alternative such as right or wrong if any problem or situation arises in the organizations (Clegg, Dunkerley, 2013). Most of the organization faces the ethical issues in their organizations such as fundamental issues, diversity issues, decision-making issues, etc. The ethics in the organization is much important for the organization to get the trust of the customers and the also to make the employees work properly in the organization. Ethical concern is related to the reputation of the company and for that Tesla try to solve their ethical issues with great respect. The most of the ethical issues faced by Telstra is the fundamental issues and the diversity issues. Telstra [provide a wide range of service and products and one of their product is broadband. Telstra faces the ethical issue in gaining the trust of the customers regarding their broadband services and also they face the diversity issues also regarding their customers. The compan y faces their ethical issues due to the lack of diversity in the organization. Environmental concern Environmental issues that affect the organization are the sustainability of the raw materials, industrial waste, water, air, pollution, etc. Telstra is the telecommunication and the environmental issues that are faced by the company are the pollution, sustainable development of the raw materials, water, air emission, etc. The company faced an environmental challenge for the setting of the network tower in the country (DesJardins, McCall, 2014). They faced this challenge because it affects the environment very badly and for that, they are trying to develop the sustainable raw materials. These effects are the biggest issues that the company faces for the installation of the tower to provide the best broadband connection to the company. The other challenges faced by the company in the environmental issues are the operational challenges. They also face the challenge of gas that emits from the greenhouse and also the electronic wastes are faced by the company. It is important for the com pany to deal with the environmental issues so that they are able to use the best sustainable energy and raw material for the products. Globalization Globalization is the process or way by which the organizations develop the international operating scale (MacKinnon, Fiala, 2014). The worldwide involvement in the economy, trade, finance, and communication is known as the globalization of the company. The issues that are faced due to the globalization are economics, finance, and climate and may other issues. They face the issue for boarding their business for convincing the partners and the customers for their services and products quality. This challenge occurs due to the high competition in the telecommunication field and for that, they are facing the huge challenges in the market to globalize their products or services. Telstra if facing the issue because of the other telecommunication service is having strong network applications than Telstra. They are facing the issues for the globalization due to the change in the world and as the world are becoming digital people are expecting more for the better and strong network connectio n. Innovation Innovation is the process of creating new ideas for the products or the services in the organization so that the organization is able to stay in the competitive field with their new and better products (Certo, 2015). Innovation issues are the issues that the organization faces due to the lack of creative ideas among the employees. Telstra is the telecommunication company and for that, they have to be innovative in providing the best broadband plans for their customers. The innovation is needed in the company so that the customers get more interest in the broadband service of the company. At present Telstra is facing the innovation issues due to the lack of creative employees in the organization. It is very important for the organization to change their product or service plan quite often so that the customers do not get bored from the same broadband plan. Innovation in the organization is the most important part of the organization to settle in the competitive market and also to get the best for the customers. Recommendations Telstra is the largest telecommunication provider in Australia and for that; they also face many challenges regarding their product broadband in the market. It is recommended that the company need to provide more plan in their broadband service so that the people get interested in buying those plan of the company. The price of the product needs to be settled in such a way that the customer did not feel irritated while paying the price for the products. To improve their globalization the company needs to improve their innovation by hiring new employees who will be able to provide the best solution to the company regarding the broadband plans. Broadband is the most important for the customers in today's world and for that, the company needs to give more importance in the broadband service. It is recommended that the company need to settle their environmental issue by using the sustainable raw materials which will increase the trust of the customers on the company. For any organization it is very important to gain the trust of the customers and as Telstra is the telecommunication company so they have to be more customers oriented so that the company could be able to stay in the right position in the competitive world. The company needs to improve their plans and prices for the broadband service which will help them to maintain their market position in the international market. It is very important for the company to understand the needs of the customer and plan as per their needs. Conclusion Telstra the telecommunication company of Australia is facing some issues and challenges in the market regarding their broadband service. This paper concludes that the company is facing the huge challenges regarding the competition in the market of telecommunication and for that; they need to take some major step to maintain their position in the market. The price of the product of the company needs to be settled in such a way that the customer did not feel irritated while paying the price for the products. It is very important for the telecommunication company to satisfy the need of the customers. At present Telstra is facing the innovation issues due to the lack of creative employees in the organization. The company needs to improve their plans and prices for the broadband service which will help them to maintain their market position in the international market. The issues that are faced due to the globalization are economics, finance, and climate and may other issues. Telstra is t he telecommunication company and for that, they have to provide the better service for the customers. References Alon, I., Jaffe, E., Prange, C., Vianelli, D. (2016).Global Marketing: Contemporary theory, practice, and cases. Routledge. Armstrong, G., Adam, S., Denize, S., Kotler, P. (2014).Principles of marketing. Pearson Australia. Baker, M. J. 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