PRODUCT/ SERVICE CHOSEN:
SINGTEL MOBILE YOUTH PLAN
Khairul Anwar (Group Leader)
The mission statement of Singtel Telecommunications Limited (Singtel) , taken from their company’s website is as follows “Breaking Barriers, Building Bonds”. The company enables communications by breaking barriers and building bonds. They help businesses and people communicate anytime, anywhere and in various ways. They make communications easier, faster, more economical and reliable by breaking the barriers of distance, price, time and technology. And to add on, they build strong bonds among Singtel employees, and with our shareholders, customers and business partners. They believe that creating and delivering value to our customers, employees and shareholders is fundamental to our business.
The mission statement is very specific in identifying the nature of business of the company and also in providing a clearer picture of how the company runs their business in professional view of prioritizing their customers first and at the same time value the services and efforts provided by their employees and maximise the profits for the shareholders.
The mission statement of Singtel is effective as it inculcated four important characteristics of a good mission statement. And the four elements are 'Be market oriented', 'Fit the market environment', 'Be based on distinctive competences' and 'Be motivating'.
Singtel has made it clear of their objectives to give the best value and experience to their customers. For their enterprise customers, they expanded their portfolio of cloud-based solutions to help them reduce costs and improve productivity. For consumers, they widened their range of digital offerings to simplify their communications and enhance their lives. Singtel’s continued market leadership position reflects the success of their strongly executed strategy.
Singtel comes up tops and is the dominant player in the telecommunications market. The other two competitive players are M1(Mobile One) and StarHub. However, only Singtel and Starhub are full service operators and are concurrently involved in a wide range of telecommunications services, including fixed line and fixed broadband service. Despite the two direct competitive companies in the same market, Singtel continues to dominate a higher percentage of the fixed mobile subscribers in the market.
Based on statistics, Singtel is the market leader with 3,600,000 customers (as of March 2012). This is a market share of 46%. Companies under direct competition with Singtel are M1 and Starhub. M1 holds a market share of 26% and 2,015,000 customers (as of December 2011). Lastly, Starhub is at 28%. (estimated). The profit of each individual companies are greatly shown by the amount of market shares they hold. Singtel leads the group with a profit of $3,822,700,000, followed by Starhub with $348,300,000 and finally M1 with $164,063,000. The comparison of profit is bias as Singtel and Starhub offers more than just a mobile network service as compared to M1.
The mobile plan services market may have a very little growth potential as generally people only hold one personal mobile phone per person which indicates they have one mobile plan for it. However, due to the advancement in technology and the modernization of time, consumers are getting their first mobile phones and plans at a much younger age as compared to before. As a mobile service plan is not a tangible product, consumers can always choose to “switch” between telecommunication companies as they please, as long as they are not bounded by a contract. In addition, even though the market has potentially reached its maturity stage, introducing a new plan which...