Demographics (ZB)

To begin, demographics is defined as: searching for certain aspects consumers can relate

to. When businesses like Sprint find out that consumers are intrigued about a product/promotion,

with great marketing, the customer will actually feel lead to purchase the product/item. What

businesses look into when they focus on key factors is (Classens) “size, density age, gender,

occupation, etc.” Size is defined as, “the number of individuals present in a subjectively

designated geographic range” (“Introduction to population…” para. 3). This means Sprint

consumers are being put into a certain category based on what is popular amongst that specific

group. In 2019, Sprint Corporation’s income amounted to 33.6 billion U.S. dollars, an increase of

over one billion U.S. dollars from the year before. To find what the general population likes the

“estimate population size by counting individuals within a small sample area and extrapolating

that sample to the larger population” (“Introduction to population…”, para. 3). This shows an

efficient way to balance between saving time and resources by having a small group based on

similar interests. In knowing this, it allows Sprint to know what was liked and disliked because

as consumers they usually have similar complaints to ensure better satisfaction. Age is an

ongoing process for demographics by how great the age range is. It can start at the age of 12-65

by targeting “matter in choice of platform” (“Customer-Demographics Age”..., para.2). Different

markets are directed and advertised towards certain sets of people. For instance, Instagram and

Snapchat appeal to a younger audience from the ages of 12-8 and Facebook and Twitter appeal

to ages 21-30+. With the different ranges, it is favorable when marketing because it is geared

towards demographics through social media and also people of the culture through diversifying

and creativeness. Not only does age correlate to demographics, but it has a larger significance

than the other aspects of demographics such as income, by the involvement. Other components
Sprint may consider when focusing on a distinct target audience are: Why are we

promoting/selling this product? What is the price range? Who will this appeal to? One thing

businesses keep in mind is, “the study of people is very crucial for marketers” (Classens). This

analysis and marketing technique is very important when trying to promote a product and make

it appealing to consumers. Customers who are willing to buy a product for its look and structure.

These are a few examples that are considered when it comes to the demographic aspect of the

product.

Economic (MA)

Most of the usual customers are consumers from “lower-end or underserved markets”

who usually look for “phone services that offer flexible plans”(Dun & Bradstreet 11). These

consumers mainly look for phone companies that don’t do contracts or credit checks. However,

not all phone services follow the same marketing segments. For example, “iPhone users on a

budget or the Hispanic community in the US” (Dun & Bradstreet 11) will usually rely on

resellers to free them from the trouble of management by lowering accounting and administrative

costs. Meanwhile, larger businesses with “fixed phone lines” in various locations may look for a

seller that will offer them “a single point of billing and contract” (Dun & Bradstreet 11).

The internet however plays a huge role in the sales channels. Since mobile virtual

network operators (MVNOs) don’t operate their businesses in actual physical stores, they are

able to just fulfil their services online as well as social media. Many of these MNVOs often “rely

on newer, lower-cost targeting through search engine marketing and referral incentives” (Dun &

Bradstreet 12) in order to be able to reach their audience without having such high costs. In order
to reach out even further to their audience, wireless resellers could also sponsor certain podcasts

as well as conduct Facebook contests to get across to their target audience. MVNO pricing often

depends on the “level of voice, data, and messaging services” (Dun & Bradstreet 13). However,

basic plans often cost about “$40 a month for unlimited voice and texting” (Dun & Bradstreet

13) along with a limited amount of data. However, resellers also offer a value plan that can cost

$20 for thirty days of service as well as 300 minutes of talk, 1,000 text messages, with 1 GB of

data.

Sociocultural (ZB)

Sociocultural is known as being an “important factor to consider in the marketing

strategy of a company” (Kozenkow). Determining how well the organization is when it comes to

promotion and advertisement of a product, it can make or break a business. This is done to get

positive recognition and to get people excited about what is to be released in production or

happening in the near future with a product. Furthermore “Sociocultural are customs, lifestyles,

and values that characterized a society” (Kozenkow). It can be a very particular key component

when gathering a following of customers, who will support the company. In Sprint’s case this

affects them by “survey respondents require them to expect the pace of technological change to

increase rapidly at an unprecedented rate over the next three years” (Nasser). It shows that Sprint

will face an increase and rapid jump in technology demand and they will be ahead as it advances

throughout the entire company. Another way sociocultural can be implemented in the business is

“research confirms that several non-economic factors can be identified as highly relevant for

entrepreneurship and economic success” (Kozenkow). This means sociocultural is very

interchangeable and is unique depending on its situation within the organization which can make
the company grow very quickly with just the right formula. Ultimately, these are the key points

business owners should be aware of and understand these factors and buying habits.

Global (ZB)

To lead into the next phase, globally the last decade the business world has expanded.

Technology has advanced in producing new phones, laptops, virtual reality, gaming, etc. One

global trend has led “the U.S. economy is relatively flat, many businesses are turning to

international enterprise to drive profits” (McKim). This determines that even with the elevated

growth, technology has reached a peak and is currently at a constant state, neither rising nor

decreasing. Not only this, other news has been announced that “Despite the U.S. economy’s

implications on global market strength, other nations are also putting up strong economic

expansion numbers” (McKim). It shows that not only has the United States grown, but small

developing countries such as India have been constantly growing to reach a high point as well.

Since 2012, the South Korean company has held a share of 20 to 30 percent in the smartphone

market. Apple has consistently been its closest rival over the years, while brands such as Lenovo

and Huawei have also increased their smartphone market share. With the pinnacle rise of

smartphones reaching a majority of audiences in today’s society, it has “constantly connected

consumer not only has product information readily available, but also has instant access to

trends, brands, and other companies” (McKim). Acknowledging technology has reached this

point helps society and the general public keep the world connected as a unit expressing different

ideologies, interacting with individuals and with the possibility of starting your own business.

Sprint has been impacted by these changes as shown in their platform to offer deals with Hulu

merging together as they sell new phones with package deals. Also, through elevation to reach a
larger group than ever before in the previous years before this decade raising the heights and

limits to achieve greater odds as the future of the next one begins.