Introduction
Marketing is present in almost all business enterprises because it ensures proper access and provision of both goods and services for customers and suppliers respectively. Elements in marketing revolve around the commonly known four Ps of marketing which are; product, price, place and promotion. They work hand in hand to bring out a force that is prudent for any operations related to business.
Medical supplies are essential provisions in the community. Ruby Creations Investment is a business enterprise that deals with the supply of radiology equipment both in the vicinity of its operation and different regions of the country. It has been operational for a year now and it has evidenced growth in both its profitability and the market it captures. The enterprise acts as intermediaries because they facilitate the interaction between the manufacturer of the medical equipment and medical centers who are the benefiters.
Ruby creations investment evidenced the gap of timely and quality supplies. Most of the other providers of medical equipment were rated as inconsistent. Disparity in their services time and again was clear because of the different quality of products they provided. The high number of hospital centers in the target markets was a vital consideration in whether to enter the industry or not. In an economic view, the company would be able to take up the opportunity because of the availability of ready market as stipulated above. The benefits of the move would outweigh the costs and would leave a surplus.
Technologically, the company embraced the access to advanced equipment with the aim of being competitive. By investing in research for the available medical equipment, the company made substantial steps in knowing the facilities that were available in the market and the ones that could be introduced to make a difference in medical practices. The social welfare was an area of concern for the company which created the opportunity for preference of the company by medical institutions. This is revealed through the provision of better equipment for medical practice that helped to combat of diseases by the medical practioners.
Availability of suppliers from the manufacturers is an aspect that is keenly scrutinized by the company. In an industry as the one the company operates in refers to the availability of ready manufacturers as their prime raw-materials. With good relations of not only local but global manufacturers, the company ensures the availability of its required resources as one of its paramount objective.
Dynamics in operations in any industry brings the need for a keen look at the already available marketing strategies. Marketing is crucial if a company intends to stay profitable and in operation therefore, constant upgrade of its present marketing initiatives is necessary.
Trends in the working environment of the company is a key consideration when seeking to enhance marketing. Economic changes that emerge in the market are areas of concern for the company. Demand and supply forces are determined by both the monetary and fiscal policies that are enacted in the country of operation. Fiscal policies are concerned with the regulatory conditions that have impacts on the national economic states which include tax rules, government spending and also border relations (imports and exports). Monetary policies on the other hand affect businesses in the access of capital for operations.
Provision of complementary services and products is a key strategy if when properly used can elevate operations of any organization. Ruby Creations can adopt the strategy where with the already available loyalty of the radiology department, it can tap into the potential of maternal health care. Through ultrasound imaging the company knows the basic requirements for maternal care. Extensive research that is done on the ultrasound use should be arraigned over to the overall maternal health. With a distinct but clear marketing strategy and tactic, the company can be able to structure its long-term and short-term of the move.
Marketing management should have the characteristic of incorporating advancements in technology within its scope of efforts. Processing and storage of data from both the manufacturers and market is important so as to model strategies. Computer advancements in information systems can be very useful because simulations can be done. These simulations represent a mimic of the real environmental conditions of the industry. When employed, it can be very useful because the company can be able to formulate strategies and techniques while testing them in an abstract environment. This adds up to the knowledge of the market by the company which helps in making policies. Through inclusion of technology, the company can be able to see the response of their service provision. It will aid in making sure that their consumers are content with their operations. Good relations between its suppliers is also enhanced with the use of supplier requirement forums that are provided by the suppliers. Advertising as a branch of the promotional element of marketing plays a great roles in edging a company atop of competition.
The geek squad being a prime provider of computer-related services and accessories for residential and commercial clients. Use of profitable merges are a key strategy used by the company to be able to outsource its operations to reach a bigger market. A merger with the Geek Squad is the Carphone Warehouse which operates an onsite and also remote repair service. From the onset of partnerships the company was able to partner with other companies in the quest to provide technological advancements in customer relations. The vast interactions with other big agencies portrays the possibilities available if partnership is to be embraced as a form of marketing.
In conclusion, the marketing strategies and tactics majorly depend on the overall objectives of the company. Whether it is a profitable or a charity organization, marketing is important is operations are to run properly and accurately because marketing is more of awareness purposes so that sales techniques can be employed.
References
Dacko, Scott. G. (2008). The advanced dictionary of marketing. 377-378.
Durman, Paul. (2007). Geek Squad Comes to Britain. The Times of London.
Keller, Philip. K. (2009). A framework for Marketing Management(4th Editio). New Jersey: Pearson Prentice.
Kerin, Roger A. (2012). Marketing The Core. New York: McGraw-Hill.
Shimizu, Koichi. (1989). Advertising Theory and Strategies. Souseisha Book Company.
