Professional Documents
Culture Documents
Marketing Research,
BBA II, Business School Lausanne
Metropolis Holding SA
CH1854, Switzerland
Projective
Techniques......................................................................................
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Information
Analysis..........................................................................................
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Gant
Chart..............................................................................................
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Resources/Budget...........................................................................
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Reporting & Presentation
Requirements..................................................................14
SWOT
Strengths:
1) Vertu is the absolute market
leader. In addition, this market
was created by Vertu itself.
The company takes more than
a half of the market share in
the exclusive mobile phone
market.
2) Vertu became a benchmark
and a recognized standard of
the exclusive mobile phone. It is known for the highest build quality
and unique design.
3) The company established excellent relations with the famous brands
like Ferrari, Boucheron and F1.
Weaknesses:
1) Vertu is technologically modest. Even its latest Symbian OS touchscreen creations had a lot of technological problems, including poor
battery life, constant breakdowns and poor functionality.
2) The price for the product is unreasonably high. The company receives
a lot of criticism and is seen, in most of the Western countries, as a
posh accessory and a bling. However, it is still not important, because
Europe and the US represent a very small part of the exclusive phone
market.
Opportunities:
1) Vertu can improve the technical side of its products.
2) Vertu can attract new customer segments with its new products
(progressive businessmen, rich young people, media people).
Threats:
1) The Vertu products are being constantly copied.
2) The new more practical and functional competitors arise.
3) The main customer segment (older conservative people) decreases
each year for obvious reasons.
4) Customers needs change with the time.
PESTEL
Political:
The current political situation in Asia and Russia does not significantly affect
the sales of the Vertu phones. However, the European sales dropped
significantly due to the new taxes on the super-rich. The Middle Eastern
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Marke
t
Growt
h
(%)
Star
Question Mark
New Android-based
Vertus: Constellation,
Constellation Ti
($6500 $20000)
Cash Cow
Dogs
Methods
Secondary
For the secondary research, Vertu can benefit from its product sales history
achieves. The company can see what were the most popular models sold,
their price range and the materials used. This will help to understand what
the new Vertu mobile should look like. It can also use the information about
the most popular smartphones on sale (IPhone, Samsung Galaxy, Sony
Xperia) their functionality, camera quality, memory, display size, weight,
etc. This is very important to understand what the targeted customers are
looking for in the smartphone for their needs.
Qualitative (Focus Group)
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The focus group is a lot more complicated part of this research study. In this
case, the main difficulty is the Vertus customers. The idea to invite the
current Vertu owners to participate in a focus group is not clever. Normally,
they are extremely rich and busy people, who will not be interested in
wasting their precious time for any kind of money. So, the focus groups will
consist of the new company target the young and progressive segment.
These will mostly be the wealthy and perspective younger people of different
occupations (bankers, lawyers, office executives, real estate agents,
entrepreneurs, traders, students from rich families). Their age will vary
between 20-40 years. These customers seek for functionality and practicality
in their mobiles. They are the users of the latest IPhone/Sony/Samsung top of
the range models.
Quantitative (Survey)
The survey is another very important part of this research process. It will be
oriented only towards the Vertu owners. It is very hard to approach them, so,
the survey must be presented very professionally. First, it has to be short
no more than seven minutes. Second, it can be done in two ways: via email
or by approaching customers directly in the Vertu store. It is crucial to keep
the research process very private and personal in order to not damage the
companys reputation.
Survey
The survey can be sent to the Vertu customers via an official email along
with usual promotions and company newsletters. This is much easier than
approaching customers directly in the Vertu stores. However, the second way
can also be practiced on special Vertu sponsoring events and other VIP
occasions. It is very important to understand that only very few people can
afford a $2000 mobile phone, so, only these very few have to be asked. The
objective of the survey is to approach 100 Vertu owners in total. The number
is relatively small due to the obvious circumstances.
The survey must be customized for each of the key regions (Russia, China,
ME). This will help to understand, what will be the primary market for the
new Vertu product. The main task of this program is to understand what do
the Vertu owners think of the new product. The survey will also help to
determine whether the new product line will damage the reputation of the
brand, and what is the customers attitude towards the brand in general.
The filtering and data overview will be fully custom processes. Since all of
the surveys will be made private and exclusive only for the Vertu owners, the
possibility of the funny results is highly unlikable. The only mistakes, which
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Due to the importance and complexity of the task, the focus groups will be
run by the Marketing Directors of Vertu in each of the regions personally. It is
very important to demonstrate the level of the importance of the event to
the focus group participants. Each of them will be called on his mobile and
met in person before the meeting takes place. This personal connection is
very important, so, the participants will not miss the event and will put all of
their effort in it.
Information Analysis
All of the data recorder from the survey and the focus groups must be
collected and analyzed manually by a group of experts due to its limited
quantity and particular importance. The process will be managed by the
marketing executives of Vertu and monitored by the directors themselves.
The end results will be brought into conclusions and put in the form of a
written report and a presentation. Then, they will be presented to the board
of directors of Vertu and EQT VI.
Gant Chart
The deadlines given for the research are quiet broad due to the complexity of
the task. The focus groups and surveys will take place in several regions of
the world, so, it will take around eight weeks to coordinate the task and
approach the chosen targets. The survey is the most time-consuming part of
the process due to the fact that it is really difficult to approach the Vertu
owners. The full marketing process from the primary research to the board
decision will be done in a period of seven months.
Resources/Budget
Conducting such a complex research requires a lot of financial resources and
support.
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Focus Group: the standard rate for the eight-person focus group is about
$8000 for a 90 minutes session. However, due to the innovative approach in
the focus group organization, the cost of each meeting will vary between
$10000-$15000 depending on the country and local requirements. It is very
important to understand that the targeted customers are no ordinary people
and their time is much more expensive than the usual rate. The rent for the
focus group facilities is also very high due to the exclusive location and
environment choice. Considering that the focus groups will be organized in
five regions, the cost of the whole process will be around $70000 with all the
additional expenses.
Survey: they are less expensive to make. The total cost will be around
$40000, due to the unusual target audience. The hardest part will be
approaching them in person, it takes a lot of time and man-hours to do.
Collecting and Analyzing: the process for all the results will be around
$20000 due to the involvement of the companys executives and the
amount of manual work required.
Report and Presentation: The report on the analysis and its presentation will
cost around $10000.
Total: $140000
Reporting & Presentation Requirements
Report will be done in the written format, but presented to the board in a
form of an interactive presentation. It is very important to have a detailed
paper document; so, the executive office can evaluate the proposed solution
much easier. The presentation is important to give a first impression about
the concept, so, the board will decide, if they are interested in the project.
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