(Solution) MKTM028 Audit Report AS1: Strategic Marketing
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Description
Solution
AS1: Strategic Marketing Audit Report MKTM028
Table of Contents
4.2: Key Strategic Challenges. 8
Appendix 1: Company Overview.. 11
Appendix 2: Macro Analysis. 12
Appendix 3: Micro Analysis. 13
Appendix 3A: Customer Journey Map for Omantel 13
Appendix 3B: Porter’s 5 Forces. 14
Appendix 4: Internal Analysis. 14
Appendix 4A: The CBBE Brand Framework (Customer-Based Brand Equity. 14
Appendix 4B: The SERVQUAL model 15
Table 1: Omantel SWOT Analysis 7
1.0 Macro Analysis
According to Heubel (2024), macro analysis enables organisations to get an overview of the broader environment in which it exists. This is important as a way of making sure that companies continue to perform well in the face of difficult conditions and take advantage of opportunities which are presented by certain policies and trends. With reference to the PESTLE analysis for Omantel, two main drivers that are expected to drive Omantel’s performance include Oman Vision 2040 on digital transformation and the high pace of AI and IoT technology uptake. Vision 2040 focuses on Oman Economic Diversification and Technological Progression that matches with the Omantel’s strategy of developing the digital network. Likewise, the growth of AI and IoT offers prospects for leadership in smart solutions through investing in AI-based customer support service and IoT products ideal for consumers and businesses (Omantel, 2024). One of the major risks is inflation in Oman as it may decrease the disposable income and affect the telecommunications services consumption. The effects of inflation may force customers to look for cheaper services, and this may force Omantel to offer cheap services without compromising on the quality. Another challenge arises from the stringent telecommunication policies that dictate the market and competition, which may restrict market share. However, Omantel is well-placed to compete in a young and technologically-savvy population that expects new and low-cost digital solutions. See Appendix 2 for a more comprehensive analysis of PESTLE in relation to the factors outlined above.
2.0 Micro Analysis
2.1 Market Analysis
Omantel is active in the Omani telecommunications market, which has been continuously growing due to the growing digitalisation and the need for communication. Omantel and Ooredoo are the dominant players in the market, with Omantel having the largest market share. New entrants like Vodafone Oman increases competition, which is good for consumers through increased innovation and lower prices. Telecom sector in Oman is mainly influenced by mobile penetration that stands at over 150 percent of the population. The internet usage is on the rise with 95% of the population using the internet as of 2023 (Times News Service, 2022). As the 5G network is being introduced, users are now demanding fast, reliable, and cheap internet services. Beside consumer pressure, the government of Oman also focus on digital transformation as a part of Vision 2040. This opens up areas for the telecom operators to work in relation to infrastructure, smart cities and e-governance. However, competition from regional players and OTT players like WhatsApp and Zoom threatens the voice and SMS revenue streams. As the market leader, Omantel must invest in innovative digital services and promote value-added solutions to strengthen its position and meet the increasing customer expectations.
2.2 Customer Analysis
The Customer Journey Map model presented in Appendix 3 can be used to identify the customer’s relationship with the company at various stages of the process (Miranda, 2024). The process starts with the awareness process whereby the potential customers get to know of Omantel through advertising, social media or word of mouth. The next stage involves the decision-making process where customers assess the products of Omantel against other firms like Ooredoo and Vodafone based on parameters such as price, coverage and quality of networks. The next stage is the purchase stage where customers decide and buy services such as mobile plans, internet, or postpaid services from Omantel’s retail outlets, the website or customer service department. The last stage is post-purchase evaluation in which consumers judge the service quality and the service received from the customers’ support. Opportunities for Omantel include enhancing interaction points with the customer to provide a better and more positive experience at every touch point of the customer journey (Omantel, 2021a). Major Risks include the rivalry with Ooredoo and Vodafone that might affect Omantel’s market share, and the possibility to alienate customers due to service issues or inadequate customer support.
2.3 Competitor Analysis
Omantel has strong competitors in the Omani telecom market including Ooredoo Oman and Awasr. There is a direct competition between Omantel and the two companies in the provision of mobile, broadband and enterprise solution services. To assess the competitive environment, the Porters Five Forces analysis is used (See Appendix 3B). The threat of new entrants is moderate because while there are high barriers in the form of capital and regulation, technology can pose a threat (Omantel, 2024). The bargaining power of the suppliers is also moderate because telecom companies require infrastructure, which is supplied by global firms, but substitutes are available. The power of buyers is quite high due to numerous substitutes that are easily accessible by customers which puts pressure on the companies to meet or undercut market prices. The threat of substitute products is moderate due to availability of other communication applications such as the WhatsApp and Skype (Telecom Review, 2023). The opportunities include developing the 5G network which is still underdeveloped in the region, while the threat includes price competition from the Ooredoo company.
3.0 Internal analysis
3.1 Strategy review
Omantel’s strategy is consistent with the Oman Vision 2040, which identifies digital economy, customer orientation, and technology as priority areas. The CBBE Brand Framework in Appendix 4A assesses the brand strategy of Omantel and determines that the company has a strong brand awareness and loyalty marketing programs and special deals (Hawker, 2019). Nevertheless, customer perception of pricing and the lack of service personalisation remain the key issues. Its strengths are a well-established brand and collaboration with major companies like Huawei that can improve the company’s technological resources. Some of the weaknesses include a lack of distinct differentiation from other major industry players such as Ooredoo in the area of customer experience. Khatri (2024) also indicated that Omantel has a great opportunity to use its infrastructure to develop personalised customer relations and enhance brand loyalty.
3.2 Functions review
Omantel has an effective marketing strategy that involves the use of product, price, place, and promotion (Omantel, 2021b). The SERVQUAL model in Appendix 4B emphases on………
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