Assignment On

Critically analyze the mission, vision & strategic approach of

Symphony Mobile Phone

Name of the Course: International Strategic

Management Subject Code: EIB 516/531

Submitted To:
Dr. Chowdhury Saima Ferdous
Professor, Department of International Business (IB)
Faculty of Business Studies University of Dhaka

Submitted By:
Mohammed Asaduzzaman
ID# 801827007
Program: Masters in Business Administration (EMBA)
Department of International Business (IB)
University of Dhaka

Date of Submission: 12th November, 2021

Introduction:

Symphony started its journey in 2008 when there were rarely any other local players in the market. The
strong communication needs of the people encouraged the brand to initially set foot in the market with
bar phones. Smartphones were eventually introduced in 2012 and it was widely accepted and adapted
by the mass population of the country. Symphony gave millions of users their first taste of smart devices
and this advancement brought about a revolutionary transformation in education, trade & commerce,
social networking and entertainment within and beyond the country.

Within just two years of inception, Symphony achieved the market leader position and since 2011, the
brand is holding the title for being the ‘Number 1 handset brand’ in Bangladesh till today. Even just a
few years back, the mobile device industry was mostly driven by Nokia, a few other international players
and a huge segment of illegally imported brands.

Competitive pricing strategy, adaptation of cutting-edge innovation and the largest nationwide
distribution of over 17,000 outlets have contributed behind the success of Symphony. At the moment,
the brand holds 29% of total market share and 23% of the smartphone market share in the country.
To offer the essence of the latest technological innovation at an economical price, Symphony has
generally directed its communications towards the youngsters and the aspiring middle-income youth.
Symphony has thereby positioned itself uniquely as the general people’s local brand; a trait which evens
its international competitors cannot shake.

The Vision of Symphony Mobile Phone

To be the most preferred Business solution provider in the markets we operate

Critically Analysis of the Vision of Symphony Mobile Phone

A vision statement describes what a company desires to achieve in the long-run, generally in a time
frame of five to ten years, or sometimes even longer. It depicts a vision of what the company will look
like in the future and sets a defined direction for the planning and execution of corporate-level
strategies.

Key Elements of a Good Vision Statement

While companies should not be too ambitious in defining their long-term goals, it is critical to
set a bigger and further target in a vision statement that communicates a company’s aspirations
and motivates the audience.

Below are the main elements of an effective vision statement:

 Forward-looking
 Motivating and inspirational
 Reflective of a company’s culture and core values
 Aimed at bringing benefits and improvements to the organization in the future
 Defines a company’s reason for existence and where it is heading

In the vision statement of Symphony Mobile phone shows us desires of achievement in the long-run by
saying “To be the most preferred Business solution provider in the markets”. The statement is also very
motivating.

On the other hand the vision statement doesn’t reflect the culture or the core value of the organization.
The statement is not clear regarding benefits and improvements to the organization in the future. Again
it says the reason for existence of the organization but not where it is heading.

The Mission of Symphony Mobile Phone

Delivering difference to be the best in every market we serve, to the benefit of our customers and our
stakeholders.

Critically Analysis of the Mission of Symphony Mobile Phone

The mission statement must reflect the values, beliefs, and philosophy of operations of the organization
and reflect the organizational culture. The mission statement should reflect attainable goals. The
mission statement should be worded so as to serve as an energy source and rallying point for the
organization.

In the mission statement of Symphony Mobile phone shows their belief philosophies of the business
operation. The mission statement also reflects the value and organizational culture of the company. The
statement has an attainable goal. The mission statement has energy source and rallying point for their
customers & stakeholders as well.

Market Segmentation
There are two types of symphony phones are available in the cell phone market in Bangladesh

1. Symbian Phones

2. Android smart phones

Here, I am going to discuss about segmenting symphony android smart phones

 Geographic Segmentation:
Marketers can segment according to geographic criteria—nations, states, regions, countries,
languages, cities, neighborhoods, or postal codes. The geo-cluster approach combines
demographic data with geographic data to create a more accurate or specific profile. Here
geographical segmentation is really an important thing for symphony. Because of geographical
need from different geographical location is different. So Symphony providing different phones
for different area.
 Demographic Segmentation:
Demographic segmentation is dividing markets into different groups according to their age,
gender, the amount of income, the ethnicity or religion of the market and the family life cycle.
So symphony producing and differentiating their phones according to demographical age,
gender, their income etc.
 Psychographic Segmentation:
Psychographic segmentation, which is sometimes called Lifestyle. This is measured by studying
the activities, interests, and opinions (AIOs) of customers. It considers how people spend their
leisure, and which external influences they are most responsive to and influenced by.
Psychographic is highly important to segmentation, because it identifies the personal activities
and targeted lifestyle the target subject endures, or the image they are attempting to project.
Mass Media has a predominant influence and effect on Psychographic segmentation. Lifestyle
products may pertain to high involvement products and purchase decisions, to specialty or
luxury products and purchase decisions. Lifestyle segmentation reflects on how the target
subject identifies them, or how they desire to identify themselves in society. By identifying and
understanding consumer lifestyle, businesses can develop promotional mixes and product lines,
which tailor to their needs. On the physiographical aspect Symphony presenting their phones as
a one of the top brands of Bangladesh. Every man are different from each other so they are
producing different product for different personality, life style and social class.
Competitor Analysis:
Symphony and Samsung continue to rule the handset market in Bangladesh, in both feature phone and
smartphone segments. A recent report released by Bangladesh Mobile Phone Importers Association
(BMPIA) showed the data

Brand Position - Import (Quantity In Million)

The report showed that a total of 31.20 million handsets of 1500 different models and types, worth BDT
80 billion approximately, were imported Symphony imported a staggering 11.60 million handsets, which
was 37% of total sold handsets in 2016, thus securing the first spot in total handset sales in terms of
number. Samsung stood second and imported 2 million handsets. In terms of revenue from total
handset sales, Symphony was also the market leader followed by Samsung. However, in smartphone
segment, the scenario is a bit different. Though symphony imported more smartphones, Samsung got
the upper hand in total revenue from smartphone sales. Essentially, this was due to price tag of
smartphones bought by these two different brands.
BRAND Position

BRAND Position - By Revenue From Smart Phone Sales

While Samsung and Symphony is on head to head competition, Huawei is steadily marching to the third
spot. This brand has hastily opened franchise shops around the country, making it available to
customers. Huawei sold only 0.7 million smartphones last year, but they bagged a huge BDT6 billion,
thanks to their high-end smartphones. The reported commented that customers are opting more for
high-end smartphone, thanks to the growing mobile internet users. The association expected that they
would import smartphones worth BDT 100 billion, as the demand is growing steadily in Bangladesh,
compared to other Southeast Asian countries.
Business model of Symphony
Symphony creates a new era in Bangladesh mobile phone industry; they create a history to sell over 6.5
crore mobile set across the Bangladesh on a year. Their business strategies were pretty much successful
and effective to capture the mobile phone market share of Bangladesh, on the year. Symphony is a
brand under the company called Edison group. On the year, 2008 they first launch the brand called
Symphony. Their primary business was mobile phone later on; they introduced mobile accessories and
mobile application under the Symphony brand as supportive business. Aminur Rashid, Jakeria Shaid and
Rezanul Haque are three directors of Edison group and they are peoples made symphony on a successful
leading brand of Bangladesh.

The Four major reasons of Symphony success:

1. Providing High Quality on Mobile handset

2. After Sales service Such as Guaranty-Warranty and customer care services

3. Offering low price on the market

4. Offering Supportive products for mobiles.

Symphony follows participatory system of management. Employees have a right to take part in decision-
making process but under the advised of Directors. Khan Z. Rahman (Marketing manager of Symphony)
describes this as “new generation” management system. He thinks that in today‟s world, management
should be based more on teamwork and works should be done collectively. Now employees have the
independence to interact with their immediate supervisors and managers more freely. While taking a
decision, employees are informed and if they have any objection or views they are asked to express
themselves freely. He thinks that empowering employees ultimately leads to the welfare of the
organization.

R&D department of Symphony is merely strong and successful. That’s why; they are not only on
providing Mobile-handset but also on Mobile accessories and Mobile application. They are the first
brand of Bangladesh, who develops mobile application. They believed that this department makes them
strong and successful to retain on Bangladesh mobile industry and moreover it makes their operation
smooth and flexible. Their strategies and decisions are depends on the R&D department and they
emphasize more on it to retain on the market of Bangladesh.

Started year of Symphony is 2008, First two years were not go well for them. It was an unsuccessful year
for them. But from 2010, Symphony crossed over the break-even point and Page 29 of 55 started to
make profit. According to the Bangladesh telecom Association, Symphony is highest selling mobile brand
for continuous three years (2010-12). In 2013, Symphony faced challenging as Walton came in the
market. But, 2014, gives Symphony remarkable success, first mobile brand of Bangladesh who sold 10
million mobile handset across the Bangladesh and generate over thousand millions as revenues.
For the past few decades mobile industry has grown to such a level that it has never been before.
Millions of people are now using mobile phone. It has reached to a hand distance for the poor people
also. The demand of cell phone is increasing day by day to them. As people have the buying ability to
have cell phone, they also have different types of demand from the cell phone company. They have the
flexibility to switch one brand to another one. So the mobile company is at a difficult situation to meet
all the demand of the consumer. But they must serve their entire consumer so that they can sell their
cell phone to as much customer as they can and increase their revenue. It will also help them to have a
competitive advantage over their rival company. So every cell phone company including symphony
should meet the demand of the consumer, they must listen to what the consumer want, what are their
problem and they should act upon that and solve the problems.

There are several problems faced by the symphony mobile phone company while they were doing
business in Bangladesh. The main problem they faced while conducting business is the lack of high
quality product they served to their consumers.

PESTEL Analysis:
Political Environment: This environment is composed of laws, government agencies, and pressure
groups that influence and limit various organizations and individuals .Sometimes these laws create new
opportunities for business. Various political and legal factors affected symphony. Symphony had to go
through some basic issues. These issues are:

• Unified Licensing
• Lowering of Interconnect Charges
• Made License Fees 10%-15% of Revenue
• Simplified Frequency Allocation Process

Economic Environment: Symphony requires not only people but purchasing power also. The available
purchasing power in an economy depends on

• The state of the economy – State of the economy related to the category of economic status of that
country either is developed, developing or underdeveloped economy. Basically developing economy is
the potential market of handsets as these countries have many of service providers so the demand of
reliable and efficient handsets as well.... Bangladesh in spite of the recession had a growing economy
and hence this contributed to increased sales of handsets in these years.
• Income distribution- Income distribution basically related to the section of the society, high income
group, high middle class group, middle class group, low middle class group & low class group. The
preference of handset varies according to the income groups. As per the survey done by Symphony
Mobile main focus of Low income group is in the price range of >7500.

• Market innovation has contributed to the reduction of the cost of ownership and made services more
accessible for low income groups which are very price sensitive. To overcome this hurdle, other
operators boost the penetration in low income groups with use of innovative tariff plans, offer very
cheap handset to the public and exploring attractive VAS which are appealing to different segment of
customers.

• Innovative tariff plans

• Affordable Handset handsets that symphony offers are very lows price comparing to others

Socio-Cultural Factors: One of the greatest socio-cultural factors affecting the handset market is the
increasing need of social recognition among the masses, which is further fuelled by lowering of tariff
rates by the service providers. Moreover with higher spending power among the masses, festivals and
marriages and other socio cultural factors affect handset sales. Socio-cultural environment shapes
customers beliefs, values, and norms. ‟ The social and cultural factors that influence the buying behavior
of consumers are inclusive of culture, social class, reference group, family, demographics and
geography. Culture is an amalgam of tangible factors and intangible traditions that enunciate the
lifestyle of a particular group of people. As for social class, it defines the income group the individual
belongs too and that, in turn, is heavily dependent on the income earned, which is a great factor in
determining buying behavior. The third factor is the reference group. As is obvious from the name it is
the group from whom the consumer seeks reference. It could range from people like one's parents,
members of the family whom the individual feels close to, close friends, celebrities who endorse the
brand etc. People whom we trust, their opinion means a great deal to us and affects many decisions of
ours including buying behavior. Regarding family, this determinant is totally different from the erstwhile
one as this one focuses on the norms and preferences of the family in which the individual lives and is
brought up. Moreover this determinant is on a collective and unconscious basis as the individual's
buying decision is taking effect from the ambience of his family and the unconscious way he has grasped
the values that have been given to him by his family. Coming to demographics, these are small and
specific details about the individual such as age, gender, education, income, occupation etc. Also the
geographical location in which the consumer resides also determines the buying behavior depending on
sub-factors like climatic conditions, availability of resources, surroundings etc

Technological Environment: One of the most important factors that affect our lives is “Technology. “It is
the most important force that keeps on changing our day to day lives, which not only affects individuals
but can also affect economy as a whole. Technology is a dynamic force which shapes people and
industries lives and even wipes out ‟ entire industries. We live in an age in which the pace of
technological change is pulsating ever faster, causing waves that spread outward toward all people, and
all industries. Cell phones have no longer been limited to communication but also have indirectly
emerged as a means of reducing face to face social interaction as people can listen to music, can watch
movie on their cell phone and so on. So, it has become very essential for marketers to have a look on
dynamic technological environment, so that they can actual find out customers’ needs and aspirations.

Environmental Factors:

Environmental Standards and Regulations both at National & Local Levels – Often the environment
policy at national and local level can be different. This can help Symphony in numerous decisions such as
plant location, product development, and pricing strategy.

Influence of Climate Change – How climate change will impact Symphony’s business model and supply
chain. For example if the supply chain is not flexible it can lead to bottlenecks if shipments from one part
of the world are delayed because of sudden climate shift.

Waste Management – What is the policy of waste management in the prospective market and how
Symphony can adhere to the waste management requirements in that market.

Corporate Social Responsibilities Culture – Are Symphony present CSR efforts applicable in the new
market or does it needs to have new initiative to cater to the prospective market.

Environmental Regulation Impacting Absolute Cost Advantage Dynamics in the Industry.

Influence and Effectiveness of Environmental Agencies – The role of environment standards

enforcement agencies is critical in safeguarding norms. But often in emerging countries these agencies
delay the process as a tactic to extract bribes. Symphony should be aware of presence of such practices
in a country.

Recycle Policies – What are the recycle policies in prospective market and how Symphony can adhere to
those policies.

Legal Environment:

Securities Law – What are the securities law in the country and what are the conditions to list the
company on national or regional stock exchange.

Consumer Protection Laws – Symphony needs to know what are the consumer laws, what is the rate of
enforcement, what is the attitude of authorities towards consumer protection laws, and what is the role
activist groups in enforcement of consumer protection laws.

Transparency in Judiciary System & Processes – Transparency is essential for fair and consistent
decision making. If the process is consistent and transparent then Symphony can plan ahead with
greater conviction.
Employment Laws – What are the employment laws in the country and are they consistent with the
business model of Symphony. For example Uber employment system is not consistent with French laws
and it is facing challenges in the country.

Laws regarding Monopoly and Restrictive Trade Practices – As a new player Symphony shouldn’t be
worried about the monopoly and restrictive trade practices law.

Adherence to Common Law – Is the country following common law which is uniform for all parties –
whether domestic or international. If there is arbitrariness in the judicial process then Symphony can’t
be sure of the judgments.

Intellectual Property Rights Protection – Symphony should assess the level of protection that
intellectual property rights get under the legal system of the country.

SWOT analysis:
❖ Strength:

i. Strong vendor channel- Our sellers are significant expert and experience player inside the
country.
ii. Coverage Market- Directly covering 64 regions by 119 merchants who are covering 525
thana's.
iii. Operationally Exclusivity- 112 out of 117 accomplices.
iv. Everybody works inside the guidance of deals group and keeping up equivalent cost over the
country which is momentous in BD.
v. 119 Distribution managers are working with 40 ZSO’s for quality distribution.

❖ Opportunities:

i. Increasing demand and expansion to a new target segment- As innovation advances and
PDAs get less expensive Symphony will draw in buyers and get Smart telephone clients to
move up to Symphony.
ii. Upgradeable- Symphony programming permits new energizing highlights to be gotten which
exploit the touch screen capacity. Future forms will likewise be equipment upgradeable.
iii. Partnerships- Symphony can work together with numerous incredible chief brands let cell
phone to flood the market with Symphony, which diminishes costs in promoting and builds
income through long haul arrangement bargains.
❖ Weakness:

i. Brand Image- The Symphony brand isn't focused towards financial specialists and doesn't
have a standing as being viable with the corporate world.
ii. Price- Symphony doesn't yet offer lower estimated models for more costcognizant
customers.
iii. User Interface- Touch screen interfaces experience the ill effects of the issue of "gorilla
arm". *** [Gorilla arm is a side-effect that humans face when using touch screens for long
times as humans are not built to hold their arms at waist or head-height, making small and
precise motions. After a short period of time, cramp may begin to set in, and arm movement
becomes painful and clumsy. This is now considered a classic cautionary tale to human-
factors designers.]
iv. Quality- Symphony hand set quality isn't superior to Multinational Brand likeXiaomi, Oppo,
Vivo, Samsung, Nokia.

❖ Threats:

i. Increased rivalry- Smart telephones are simpler to make now like never before. More
organizations may enter the market, and contenders or even Symphony contractual workers
can move around licenses to make comparative gadgets.
ii. Downward valuing pressure- The Symphony is showcased as a top-of-the-line smartphone;
however, smartphone’s costs are very likely going to fall when different organizations
undercut the cost of Symphony.
iii. Servicing- Symphony should increase hand set servicing gave.
iv. Political Violence- Impact political brutality in Bangladesh for hand set Import and deals in
nearby market.
v. Competition (Palm)- Palm has the longest history in PDA market and has experience-
creating programming for cell phones. It is additionally a notable brand for financial
specialists. Existing programming is grounded and viable with numerous items for this
market. The market knows about Palm items; huge exchanging costs are engaged with going
to a Symphony. Palm can add numerous comparative abilities to their items that coordinate
the Symphony and extend to a more extensive market through lower cost and higher-power
items.
vi. Competitor in Local Market- New coming rival in nearby market with low spending mobile
handset dining like-Xiaomi, Walton, Realme, Samsung and so on is consider a danger for
Symphony. Ensemble first discovers the opponent rival in nearby market Samsung versatile.
Recommendations:
A portion of the market improvement methodologies needed to limit the shortcoming and keep
away from dangers with the assistance of utilizing openings and strength. These are given here:

❖ Improve Product Quality: Symphony has given the great quality mobiles previously yet they
should zero in on improving their item quality in the event that they need to get current and
dynamic market. The greater part of their items don't have that excellent presentation which we can
see from their rival's item similar to Xiaomi, Itel, Vivo or Oppo. They ought to likewise improve their
item includes. As they have prevailing to get an enormous market, they should now zero in on
bringing more elite mobiles with better quality to get different sections into the market.

❖ More Billboards: Symphony should rise the quantity of their boards as they have not many
bulletins which are really less attractive. Along these lines, in the event that they need to make their
advancement more viable, they should zero in on this fragment.

❖ More TV Commercials: They should zero in additional on current TV advertisements and Web
adds on the off chance that they need to make their special action more forceful. Their rivals as of
now have various TV and web advertisements and still they are dispatching new ones to connect
with the purchasers. Along these lines, to counter their rivals, they should concentrate more in TV
and web advertisements.

❖ Increase the Number of Service Center: Administration focus is essential to expand consumer
loyalty through the huge number of customer care. Be that as it may, Symphony doesn't have a
enough number of customer care or customer service center. Thus, they should expand their client
place to give better their clients better insight and better assistance.

❖ Training and Make Coordination: It is exceptionally fundamental to give the best possible
preparing to make the root workers productive. On the hand, synchronization is likewise essential
which is needed to make among developments to build deals and piece of the overall industry
Conclusion:
SB Tel Enterprise Ltd., first organization of EDISON Group begins its activity in versatile handsets
business with the brand name Symphony. From the earliest starting point, they can comprehend the
need of individuals and the individual’s moderateness. Giving all the most recent component at
extremely minimal effort, they can infiltrate the market effectively. They are offering both advanced
cell and highlight telephone. It is matter of remarkable that the improvement of portable industry in
Bangladesh is high. Moreover, Symphony gets the best brand grant threefold and just as maintains
most noteworthy number of offers being a neighborhood brand. It will be an extraordinary test for
them to keep up their image according to their client necessities as like today and acquiring piece of
the overall industry. Therefore, they need to make a solid brand arranging and furthermore need to
making important market advancement system and execute those methodology appropriately