Assignment 4: Part D: Your Marketing Plan – Video Presentation

Running head: MARKETING PLAN 1

MKT500: Assignment 1: Part A: Your Marketing Plan

Student name:

Instructor name:

Institution name:

Course’s name: MKT 500 (Marketing Management)

Date: 01-26-2017

Marketing Plan

Gravity Technology is an information technology company that specializes in selling computer hardware and software. The company is competitive as it ensures that corporate get the supplies of the products when they need them. The enterprise has existed for the last two years, and the performance of the business is incredible. Positive feedback is given by the clients, and this has made sure that there is progress in the functioning of the organization. The company is located in the central business district, and this is important as it ensures that clientele that the company targets have knowledge on the different computer hardware and software. It is important for the organization to identify the strategies that are essential for the achievement of the goals of the organization and this involves identifying the target market (Jabłoński, 2015). Some challenges are presented in the business, and this is due to the dynamism of the industry making it necessary for the company to keep up with the competition in the market.

The focus of Gravity technology is the corporate business because of the significant transactions that they making it possible for Gravity Technology to make more profits from the sale of the hardware. It is important then for the company to focus on increasing the efficiency of the organization through meeting the needs of the target market. It is through this that there is the growth in demand for the products. Offering excellent customer service and ensuring that the customers get the goods when they need it enhances better customer service and the organization is in a better position to get business through referral. The advancement of technology in the industry has led to the increase in popularity of the products of the organization, and this creates the need to meet the growing demand by the company.

Environmental Analysis

It is important for an organization to conduct the environmental analysis as it helps in the identification of the forces that affect the business regarding the competition that they face in the environment. The determination of the effects that helps in increasing the satisfaction of the consumers and it is essential in ensuring that the sales of the business increase (Dockalikova & Klozikova, 2014). The improvement of the information technology in the environment provides there is the creation of new technologies, and this makes it necessary to analyze the environment as it helps in the development of the strategies that enhance the operation of the business.

Political Environment

The political situation in the country affects the performance of the information technology industry and this, in turn, has an impact on the functioning of the firm. The regulations that the government requires are known to affect the operation of the business, and this is where issues of taxation affect the functioning of the firm. The stability of the political environment helps in stabilizing the business environment, and this is important in increasing profitability.

Economic Factors

The economic factors such as interest rates and the recession affect the information technology industry and Gravity Technology. It is where the increase in the expenses affects the operations of the business, and they are known to influence the profitability of the organization.

Social Factors

Social factors such as the rights that people have while using the information technology create an impact in the organization where different issues are raised on the social media. The review that the customers make can either destroy or build the organization. When the reviews are positive, the company is likely to increase the traffic of clients to their firm.

Technological Factors

Information technology is known to affect the economy, and the lives of the individuals. This means that there has to be consideration of networks that continue to affect the business. The increase in the users and the different designs of the software makes sure that competition in the environment is created.

Legal Factors

The application of the regulations and rules in the industry is critical as it ensures that law governs the practices of the company. The software that is installed on the machines might be hacked, and this is one of the risks that the law prohibits. It ensures that there is the protection of the users and the creation of awareness of the different programs that are safe for use.

Primary and Secondary Target markets

The main target for the company is corporations as they are the potential customers for the enterprise. The segmentation of the market is important as it ensures that there is the identification of the needs of the clients in the market. It is through this that there is the gaining of knowledge that is necessary to ensure that there is better performance of Gravity Technology. The marketing mix of these groups of the clients is identified through the use of the 4PS of marketing where the group is known to be sensitive to prices, and this means that they prefer quality goods with favorable prices. The product should be tailored to suit the needs of the customer, as it is through this that they will appreciate the value that they gain from the product. For example, the antivirus software that most Corporations use should be for multiple users given the significant size of the organization. The place should focus on the availability of the products at the convenient time of the clients, and as such, they should concentrate on the competitors and differentiate their products. The price and the promotion of the goods are important as they determine the demand for the product.

The secondary target market is the individuals, and this mandates the company to make decisions that focus on the customers' needs. The ability of the company to meet the needs, the climate of the operation environment, the competitors in the market and the different collaborations that exist as this is the source of competition (Gokkaya et al., 2015). The segmentation of the market, product positioning, and target marketing is important in increasing the effectiveness of the company.

Short and Long Term Goals

The company needs to ensure that the aims of the company both in the short and long term are identified as it is through this that the strategies of the organization are identified. In our business, the short-term goals are to focus on the increase in sales, and this eventually translates to the growth in the market share. It is also enabled by the increase in the satisfaction levels of the clients, and this is where they focus on the solving any queries that the clients might have ensuring that they provide high customer service. The building of relationships with the customers and the retention of the employees ensure that there is increased efficiency of the organization and that the products sold are of quality. The maintenance of the employees means that they get to keep the best talent that propels the firm forward (Wu et al., 2016).

The long-term goals of the organization ensure that the focus is towards the growth of the organization in terms of profitability. The increase in the revenue of the company is enhanced by the identification of the customers’ patterns that always change, and this ensures that there is a growth in competition in the market. Creation of traffic to the organization website is also a long term goal that helps the firm improve its profitability in the long run. The medium determines the increase of the traffic that the company uses in reaching to the clients, and this includes the advertisement where there is the campaign of the products of the organization. The focus is ensuring that the company reaches to the target market and that products in the market are positioned to reach the consumers at the right time. The focus on the target market and the increase of traffic are important in increasing the revenue for the organization.

SWOT Analysis

The creation of the SWOT analysis is important in making sure that there is the identification of the strengths and weaknesses of the organization, opportunities, and threats.

Strengths

One of the strengths of the industry and the hardware that the company offers is the dynamism that is created where the changes that take place in the industry are high. The ability of the software and hardware to adapt to the changes is strength. It ensures that the collaboration and the communication in the sector are coordinated. It helps in increasing the customer service in the market (Speth & Probert, 2015). 

Weaknesses

The main weaknesses that the organization faces are the adaptation to the Green IT as the companies are moving towards mechanisms that are environmentally friendly. The company is expected to change the regulatory and the operation perspectives, and this entails having increased overhead costs to keep up with the shifts in the environment.

Opportunities

There are different opportunities that the company enjoys, and this includes the growth of the industry where many of the organizations are moving towards the digitization of their operations meaning that there are more opportunities to increase the sales of the company and in turn increase the levels of profits for the enterprise. There is focus on offering clients the security that is needed, and this is seen where there is collaboration between the different companies in the industry to ensure that the threats to the systems are reduced.

Threats

The changes in the technology are both an opportunity and a threat to the organization where there are increased levels of complexities, and this means that there is the diversity in the services provided. The margins due to the complexities continue to shrink, and this is considered as a threat to the company.

The identification of the strategies to use and the analysis of the market are important in making sure that the company gains a market share. The focus is on the identification of the opportunities in the dynamic environment and the provision of products that meet the needs of the consumers in the market. It helps in ensuring that the company gains a competitive advantage.

References

Dockalikova, I., & Klozikova, J. (2014). MCDM Methods in Practice: Determining the Significance of PESTEL Analysis Criteria. Proceedings Of The European Conference On Management, Leadership & Governance, 418-427.

Gokkaya, S., Highfield, M. J., Roskelley, K., & Steele Jr., D. F. (2015). An Examination of Primary and Secondary Market Returns in Equity REIT. Journal Of Real Estate Research, 37(1), 23-64.

Jabłoński, A. (2015). Technology Business Models in a Network Environment. International Journal Of Multidisciplinary Approach & Studies, 2(2), 37-44.

Speth, C., & Probert, C. (2015). The SWOT Analysis: Develop Strengths to Decrease the Weaknesses of Your Business. Namur: 50Minutes.com.

Wu, L., Subramanian, N., Abdulrahman, M. D., Liu, C., & Pawar, K. S. (2016). Short-term versus long-term benefits: Balanced sustainability framework and research propositions. Sustainable Production And Consumption, doi:10.1016/j.spc.2016.09.003