Marketing Mix of Vodafone (Leading Global Telecommunications Player)
Vodafone group Plc is among the leading telecommunications companies of the world. It has managed a significant presence in Europe as well as Asia Pacific and Middle East through joint ventures and subsidiaries. The company offers a broad range of communication services for both companies and enterprises. The range of services that Vodafone offers for individuals include Mobile services, TV and Voice offerings as well as other value added services. The enterprises customers of Vodafone include small, medium as well as large businesses.
The company has operations in 25 countries and in most of these countries it is at either the number one or number two position. However, to extend its presence beyond these markets, the company has also partnered with local operators in several more countries. However, the telecommunications market has grown highly competitive. There are are other major players too in the international market. The focus of Vodafone is on innovation to grow its range and efficiency of services for both individuals and enterprises. Moreover, Vodafone is popular in several markets owing to quality service and focus on customer experience. These things have helped it find growth and become a leading telecommunications players worldwide.
Learn more about its products and services as well as marketing through this marketing mix.
The technology industry is growing rapidly and the telecommunications industry itself is undergoing rapid transformation. The arrival of 5G will mark the beginning of the next era in the field of telecommunications. In such an environment, the demand for mobile data, high speed broadband and converged solutions is also growing faster.
Vodafone has brought a large range of products and services meant for both individual customers and enterprises around the globe. The focus of the company is both on innovation and scale. It is not just the enterprises whose telecommunications and digital technology related needs are growing but individual customers also want faster connection to download and stream online videos.
Vodafone offers Mobile services, TV and Voice offerings as well as other value added services for individuals and IoT, cloud and security products as well as carrier services for enterprise customers. Moreover, Vodafone has brought converged solutions which combine mobile, fixed and content services, provide simplicity and better value for customers. In this way, it has been able to increase its customer loyalty and reduce churn rate. The company has released comprehensive range of converged communication solutions for its enterprise customers too which include “Vodafone One Net Enterprise” and “Vodafone Meet Anywhere”.
Vodafone is a multinational brand with its headquarters in UK. However, a majority of its customers are in other nations. The company has its operations spread over 25 nations in 18 of which it offers both mobile and fixed services and in seven only mobile services. To extend its reach beyond the markets where it has operations, the company has partnered with local operators in 47 nations. The company also has roaming mobile coverage in 144 countries and its global 4G roaming footprint serves twice as many destinations as the next best local competitor in most of these markets.
Overall, Vodafone has maintained strong global presence. Vodafone is also one of the top five internet providers globally and one of the largest operators of submarine cables. Being a leading telecommunication provider globally, Vodafone’s services are available in nearly all corners of the world. Through partnerships and joint ventures, the company has managed a strong global network. It has divided its business operations into two major geographic regions that include 1) Europe, 2) Africa, Middle East and Asia Pacific.
Vodafone despite being a leading player in the telecommunications industry has maintained a competitive pricing strategy. It is also an important reason behind its growth and leadership position. The telecommunications industry is marked by heavy competition and apart from the right product and services mix, you also need to have the right pricing strategy that suits your customers to win in a hyper-competitive market.
Vodafone is an innovative and competitive player and offers a large range of services in various categories for both individual consumers and enterprises. It has brought various packages in varying price ranges to match the needs and preferences of specific consumer segments. In several key markets, pricing strategy becomes a major differentiator. However, the middle class consumers are also concerned about the quality of services and so pricing is not the only differentiator.
Companies also need to match the prices with quality and range of services. Vodafone’s services and connection speed are considered excellent in most markets. So, even if its pricing is a bit less competitive than a competing player, it does not affect sales much. Instead of focusing solely on prices as some of its rivals do, the company has focused on various types of services with suitable packages for each distinct customers segment whether it be an individual customer or an enterprise. Pricing affects demand and popularity but if your product quality and range are good, then this is something you have to worry less about.
Vodafone has proved itself excellent in terms of marketing. When compared with most of the rivals in the international market, its marketing strategy and techniques are a lot smarter and effective. With growing competition, the role of marketing has also grown bigger for international businesses. User experience is now a primary factor affecting demand and popularity in all markets. Focusing on customer experience is important for multiple reasons. Customer feedback is now an important factor affecting brand image and market position. Moreover, it reduces churn rate and drives customer loyalty higher.
Vodafone has made customer experience a core pillar of its marketing strategy. Digital Vodafone is a marketing campaign by Voda whose focus is on bringing the most engaging digital experience to its customers. The company has also used data analytics for offering predictive, proactive and personalised offers to the customers, optimising the efficiency of its marketing spend, improving ARPU and to improve the direct channel mix of Vodafone. Digital technology plays a central role in the marketing strategy and campaigns of Vodafone.
Apart from using it to engage customers, the company also uses digital technology for delivering marketing and advertising campaigns. It uses a mix of digital technologies and social media to stay connected with its customers. The brand has also run advertising campaigns in the past including the highly popular zoo zoo ads. As a result of its consistent focus on marketing and customer engagement, the brand enjoys very high level recognition in most markets around the world.
- Vodafone Annual report