14
May

másmovil at IE Business School

Escrito el 14 Mayo 2008 por Alumni en Functional Area

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This past Wednesday, May 7th 2008, the IE Marketing Club continued its key Speaker Series and was proud to welcome Meinrad Spenger(IMBA99), the CEO and co-founder of másmovil.

másmovil is the 1st low cost mobile service provider which was launched this February, after Meinrad and his partners developed their business plan and raised funding starting two years prior. They had identified the opportunity to launch a low-cost mobile service provider here in Spain as this segment had been underdeveloped in the Spanish market.

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As the topic of the conference was Marketing Tactics in Telecommunication –  How to market the 1st low cost mobile service provider in Spain, the student audience was able to learn about másmovil´s marketing strategy and the marketing measures they have taken to make the launch successful and to establish brand reputation and awareness.

The audience was able to hear first-handed from the CEO about the start-up of the new company and the challenges facing the launch of the mobile service provider. másmovil has been supported by companies such as Northzone Ventures, Schibsted, and Dehesa de la Plata S.L. which facilitated the business setup.

As a start, Meinrad gave a quick overview of the competitive landscape and explained why másmovil chose yellow as their color (the existing competitors have the colors red, blue and orange).  We have managed to reunite a European Team of telecommunication experts. They don´t only bring numerous years of industry experience to the table; they also combine knowledge of the Spanish market with previous experience of launching mobile service providers in other European countries“, Meinrad explained.  He talked openly about how they identified their opportunity since current Spanish mobile phone customers were mostly unsatisfied with high prices and bad customer Service.The Company aimed to address these issues through an innovative communication strategy targeting young spirited people.

As their marketing budget was limited, they took a strong grassroot approach focusing on acquiring customers 1 by 1 through recommendations and community marketing.

Even though másmovil took an emotional approach in their marketing communication to reach their main target of students and young people between the ages of 18 and 25, they wanted to stay true to their motto Telefonica 3.0 and communicate the objective benefits of their mobile service: másmovil is the cheapest mobile service provider in Spain offering a combination of prepaid + postpaid tariffs. Their cheap tariffs of 8ct and 10cts per minute are recognized by renowned Spanish consumer organizations and are the main competitive advantage. “Through our tariffs we are setting up market entry barriers for competitors. Apart from the prices we are operating highly efficient which gives us a cost advantage“, Meinrad pointed out. Additionally the measured customer satisfaction of másmovil customers is higher than industry average. “The market is starting to change. Customers realize that a free phone with a contract isn´t really a free phone. They are discovering the hidden costs and are increasingly looking for real benefits.”

Meinrad said he was convinced that their product had to convince with the objective criteria and benefits; i.e. being cheaper and not just with emotional benefits like a great free phone. If másmovil is able to overcome the image problem associated with a low cost mobile service provider, they are likely to become very successful in the Spanish market.

According to the CEO, the first months have exceeded expectations.  In the following years, new mobile service providers in Spain are expected to capture 15% of the market and másmovil is determined to capture the biggest chunk of this.

After the main presentations, Meinrad took time to discuss with students new opportunities for below the line marketing activities and innovative ways to target consumers.

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