Phil Company Limited Essay Example | Topics and Well Written Essays - 1250 words

Phil Company Limited - Essay Example The company belongs to the Electronics and Information technology industry. Currently, the company is owned by Phil Samuel, Dick Harry, and other eight partners. The company uses cutting edge technology in designing and manufacturing electronic products like television sets, microwaves, radios, computer hardware and cell phones. Phil has been in the electronic manufacturing industry for the last four years. Improved market share in both the domestic and international consumer environments is as a result of the company's performance and experience in the manufacturing process. Phil manufactures electronics based on orders placed by retailers in the market. The company’s total employee population stands at 2000, both in the US and Jamaican manufacturing sites. Phil’s Mission Statement Phil’s vision is to become the leading manufacturer and marketer of electronic products both in the US and all over the world. We strive to respond to the market demands and consumers ’ needs by adjusting appropriately to the technological dynamics prevailing in the industry. We are aiming at responding to consumers’ needs by considering the dynamics and fluctuations in the economic sector. The company’s financial objectives are to maximize profits, optimize the net worth, increase share value and plough back the earnings into initiating wealth growth. Phil works towards providing excellent and outstanding services in terms of product and service qualities. The company will stick to the ethical code of conduct at all times and strive to perform their social responsibilities in one heart (Philip & Michael, 2009). Potential International Market Africa is one of the potential foreign markets for the company’s electronic products. In the recent past, African countries have come to embrace information technology products in their markets. International market research statistics shows that Africa is the leading market of electronic products in the world. In addition, the political systems in the continent have improved over the past years. Most nations in Africa have a functioning democratic government. Therefore, this market has a favorable political climate. African countries are highly populated. Therefore, the high population signifies a potentially large market for the company’s products. Moreover, African nations are at the stage of discovering and mining their natural resources like oil and other minerals. This has improved their macro-economic aspects of living standards and employment rates. Therefore, a substantial percentage of the continent’s population has a high purchasing power. These factors make the continent a potential market segment for the company’s products (Philip & Michael, 2009). Marketing Plan Audience The general public and the shareholders are the potential audiences for the company’s marketing plan. Since the company belongs to 10 individuals, it would be approp riate to supplement a marketing plan to  these stakeholders. In addition, government authorities and financial institutions are the other potential audience of the marketing plan. All these three audiences have different needs concerning the contents of the marketing plan. The disparity in their needs is as a result of the different roles played by the three parties during the implementation of the plan. In this case, the ten shareholders need to evaluate the feasibility of the identified segment in terms of profits from the market (Dennis, 2010). In addition, the shareholders want to