In this report, the overall analysis of the managing technology and innovation for Tune Talks has been analysed. The purpose of the report is to assess the feasibility of the 5G technology of the company. The report is based on the overall findings and the scopes related to 5G technology. The SWOT analysis is made on the internal management of the company, which identifies the possible threats related to the technological advancement of the company. The report focuses on the various scopes and advantages of the people in Malaysia and the advantages of the company relating to it. The recommendations have been provided with the help of the 7P’s of the marketing mix. The recommendations are proven to be realistic for the future.
The main purpose of this report is to identify the management of innovation and technology by a Malaysian company Tune Talk. The business innovation strategies that have to be implemented by the company are elaborated in this assignment. This has been performed for advancing the technical service of the telecom organisation by installing 5G technology. 5G provides high internet data speed and avails different features for the user interface. Understanding the market share and value of introducing the new technology has also been analysed in this assignment. The various scopes and SWOT analysis along with the importance of the 7Ps has been highlighted here.
The telecommunication business involves extensive market research and involves the need for the collection of information about the progress of other competitors. This is a very tough procedure and requires expert marketing professionals. Management of time in the overall research is essential to control the cost efficiency and setting goals to meet targets. The company website lacks in providing complete information about the planning of the company regarding its future prospects. Lack of previous studies in the research area of the company has also led to finding difficulties in the present research.
This report comprises detailed data and market research of the company along with the benefit and implementation of 5G technology. Information collection collected from the analysis has provided the SWOT data computation. SWOT analysis refers to the strength, weaknesses, opportunities and threats of the company. Market trends and technological innovations in the field of telecommunication have been conducted by the SWOT analysis. Current market trends, technological innovations and recommendations on the usage of 5G have been accumulated from this detailed research. The use of 7Ps in the management of innovation has led to a clear understanding of the information technology and implementation of 5G technology.
Tune Talk has been gradually growing towards a leading Mobile Virtual Network Operator (MVNO) in the country. The collection of proper information and evidence is an essential part of finding and discussing the strategic pathways of development for a company (Clark and Vealé, 2018). The use of secondary data collection by researchers has provided data collection variables. Accuracy in the data collection has been possible due to the research being performed by the company website. The framing procedure of the SWOT analysis for the company has been possible with the formulation of data collected from this research. The case reports related to the company has allowed the summing up of information for the company. These reports have also enabled a picturing of the scenario of information technology prevailing in the market of the country.
Collecting data of any information allows a researcher to store and analyse information about existing and potential customers. The collection of such data has enabled the researcher to provide recommendations necessary for the development and achievement of the goal of the company. Data collection saves the financial expenditure of the company by providing a database of potential customers for the advancement in marketing and fixing the target audience. This not only saves time but also regulates the cost efficiency of the accounts in the firm. In this case, data collection on 5G technology has been made, which denotes the high-end speed to internet data that it is going to provide (Campbell et al. 2017). The collected information also promoted transparency of the company on its webpage to the viewers researching about the market share of the company.
Advancement in technological innovation is essential for understanding the market trends and moving forward with such trends in order to cope with the flow of digitisation. A real-time company faces a huge risk of market competition and to keep up with such competition, extensive information collection and market research is performed. According to Phadermrod, Crowder and Wills (2019) analysis of SWOT helps researchers identify the internal capacity of a firm and deduce strategic planning to benefit the outcome of the organisation.
The study contains recommendations and market research analysis of the innovative postulation made by the company. This market analysis and SWOT determination help a company to judge its level in the country market and promotes the creation of expert plans. 5G technology has been taken into account for introduction in the telecommunication market by Tune Talk to provide high-speed internet data to its users and thus, to win the growing market of information technology (West, 2016). The disruption in the Malaysian market and availability of resources helps in organisational learning capabilities and competing in the rising market of information technology and telecommunication.
As per the views of Phadermrod et al. (2019), SWOT analysis is the analysis of strengths, weaknesses, opportunities and threats of a company. SWOT analysis is essential for internal analysis of a company so that they can convert their weaknesses to their strengths and adequately use the opportunities for eliminating future threats at an early stage.
Table 1: SWOT Analysis for Tune Talk
(Source: Influenced by Phadermrod et al. 2019)
Figure 1: SWOT Analysis of Tune Talk
(Source: Influenced by Phadermrod et al. 2019)
The above table 1 and figure 1 shows the SWOT analysis for Tune Talk.
As per the views of Sinniah and Kamil (2017), the telecommunication market in Malaysia is growing fast with innovation and marketing strategies by different companies. Tune Talk is also expanding its market in Malaysia as per the demands of customers with cheap internet rates and best offers. As per the views of Putit and Abdullah (2019), Tune Talk has collaborated with the Celcom Company so that Tune Talk can provide cheap internet and services to the customers. Tune Talk has also collaborated with AirAsia, where they are offering free AirAsia flights to lucky customers of Tune Talk to attract more customers (Tunetalk.com, 2020).
Tune Talk is adopting new technologies and advancements so that they can offer these technologies to their customers. As per the statement of Ali, Jusoh and Adawale (2018), Tune Talk has now opened the plans for postpaid plans. This plan will help the customers who are willing to shift their service plan from prepaid to postpaid so that they can use the services comfortably. Tune Talk is also planning to incorporate 5G technology in Malaysia at cheap rates with high-speed internet. The incorporation of 5G by Tune Talk will boost the telecom industry, which will make Tune Talk a leader in it with more customer base and best offers and services.
After analysing the capabilities and information of Tune Talk, it is recommended to implement 5G technology. The incorporation of 5G technology will help Tune Talk and its process to grow all over Malaysia. As per the views of Jelenković (2020), 5G technology is the next reform in the telecom industry, as the speed of 5G is 100 times faster than 4G. 5G technology can help to share the media and documents in just a few seconds without any interruption. The wire required for implementing the idea of 5G is millimetre, which has high bandwidth. With the help of 5G, a large number of devices can be connected to it with zero data fluctuations on the same network. Hence, it is recommended to implement the idea of 5G as it will be a boon for society, and it will also help the economy to grow faster.
Product: It is evident from the company background and the information obtained that the company sells broadband connectivity all over Malaysia. The implementation of 5G technology across the country will increase the number of customers of the company due to the influence of updated technology in the telecommunication sector (Qu, 2018). The introduction of the 5G technology will help the company to provide better service to its existing customers along with the increase in the speed of its broadband services across the country. The focus of the Tune Talk should be precisely on the improvement of the connectivity and efficient feedback of any customer redressal.
Promotion: The promotion of the latest technology is important as it defines the overall reach of the product across the business operation locations of the company. Tune Talk can use various promotions such as Social Media Newspaper articles and television (Etim, Uzonna and Worgu Steve, 2018). The company can also provide free trials to the existing customers which will encourage them to use the latest technology and help them in switching over their broadband services to 5G.
Place: The term place in the marketing mix refers to the place where the promotion is to be applied. In the case of Tune Talk, the marketing place is to be based on the country of Malaysia as the majority of the customer is based in the country. The marketing manager should specifically focus on rural areas and the areas where competitive companies have a large market share. Malaysia is a popular hub for various technological advancements thus the company has a high scope of expanding the business in a competitive environment.
Price: Price in the marketing mix refers to the launching price of the product in the market. Tune Talk should focus on the overall market demand and consider the various factors influencing the purchase of their product before fixing the price of the product (Išoraitė, 2016). The price of the product should be competitive as per the market demands and the purchasing power of the people of the country. Competitive pricing would help the company gain a lot of customers from the existing companies in the market and will help in increasing the overall market share of the company in terms of the revenue gained.
People: People refers to the people or the customers where the company operates its business. In the case of Tune, Talk people refers to the population of Malaysia (Tunetalk.com, 2020). The company can look to provide a better customer relationship programme of the product and focus on identifying and redressing the issues related to the product. It is evident from the research that the students going to college or school have higher demands for broadband connectivity thus; the company can provide special offers to them to expand the reach and the overall customer base. The company also can identify educational institutions and workplaces in need of high-speed connectivity and give various introductory offers to them.
Process and paradigm: The process and paradigm include the techniques through which the marketing process is going to be undergone by the company. The research and development department of the company needs to focus on the strategising that will help in obtaining a productive workforce in managing the implemented technology of Tune Talks. However, the company must focus on reducing the recharge and top up prices of the technology.
Physical: Physical factor in the marketing mix includes the interaction of the customers of the company relating to the dealings of the product. At this point, the extra focus should be given to the packaging and branding of the top-up cards and bills provided by the company to the customers. Tune Talks must provide various contact details with the help of which the customer can address their feedback relating to the daily experience of the 5G technology.
The 7P’s of marketing is to be implemented by the company within its business process as it will help in analysing the various marketing problems and the resolve of the issues to be made with the help of the appropriate recommendations made in the above points. 7P’s needs to be applied for the internal evaluation of the organisation to meet the outside factors faced by the organisation.
The strategy discussed in the report is based on the findings and analysis of the various data of the company and the proposed technology relating to it. Thus, it can be concluded from the fact that the technological advancement proposed for the Tune Talks is realistic.
The recommendations of the various strategies have been based on the overall company profile and the propensity to the adaptation of the new technology. Therefore, it is evident that the thoughts relating to the recommendation and its implementation are sufficient.
The proposal is made based on the overall information found about the company on which the analysis is made. The proposal focuses on the proper implementation of the new technology along with feasible and simple strategies. Thus, it can be said the proposal is feasible.
The report deals with the overall analysis of Tune Talks a company based in Malaysia regarding the various new themes developed by the company. The report includes the findings and information collection of the company along with its technological advancement in the field of 5G technology. The report includes the key factors, which will prove to be beneficial for the local people in the near future with the introduction of the 5G broadband services in the country. The findings and analysis part focuses on the secondary data of the company along with its SWOT analysis relating to technological advancement. The recommendations have been provided based on the possible threats related to the introduction of 5G technology. The recommendations related to the promotion, price along with the feasibility and the sufficiency of the product has been done with the help of the 7P’s of the marketing mix. Thus, it can be concluded from the above report that the adoption of the 5G technology by the Tune Talks will prove to be beneficial in expanding the customer base and market share in the near future.
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Etim, A.E., Uzonna, I. and Worgu Steve, C., 2018. Social media usage and firm performance: Reflections from the Nigerian telecommunication sector. International Journal of Management Science and Business Administration, 4(6), pp.7-16.
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Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, pp.194-203.
Putit, L. and Abdullah, M.F., 2019. Exploring relationship marketing tactics & customer loyalty: issues in the Malaysian mobile telecommunication sector. Journal of International Business, Economics and Entrepreneurship (JIBE), 4(1), pp.21-26.
Sinniah, S. and Kamil, N.M., 2017. The influence of human resource practices on turnover intention: the case of a telecommunication company in Malaysia. Malaysian Management Review, 52(1), pp.45-61.
West, D.M., 2016. How 5G technology enables the health internet of things. Brookings Center for Technology Innovation, 3, pp.1-20.
Tunetalk.com. 2020. ENJOY EXCLUSIVE TRAVEL PROMOTIONS AND #TALKBIG ALL YOU WANT. Viewed on 7th November 2020 from: https://www.tunetalk.com/my/en/rewards/talkbigOrder Now