Marketing is essentially about providing the correct combination of benefits to the end user, hence the saying "Marketing is not merely about providing services or products, it is fundamentally about providing ever-changing benefits to the always changing needs and demands of the customer” (Macarthur, 2014). The marketing mix is a collection of four choices which needs to be examined before starting any new business. These changeable are also distinguished as the 4 Ps of marketing. They help the business in making vital decisions necessary for the smooth running of any organization. These variables are A product or service that satisfies a need, Setting a price for that product or service, A place to sell that product or service, and Promoting that product or service to your market.
Product Strategies
IT Today will provide technological assistance and support to average consumers who are interested in and are using the newest technological gadgets (such as smartphones, laptops, tablets, printers etc.). The company will also like to give a 24/7 technical assistance besides networking services. The products and services will be granted to all customer categories, such as individuals, small, medium and large enterprises, and at high quality. The network systems shall include Land Area Network (LAN) and PC/Phone-based systems as well as minicomputer server-based support systems (Macarthur, 2014). Our services in this category will include design and installation of the networking systems, training, and assistance.
The company will strive to maintain and incorporate the latest hardware and software applications to continuously rank itself at the top in the technological market arena. The one particular thing for sure is that technology will always be evolving and developing, thus, there will be a need to adjust accordingly on product/service provision to match what the market demands. It, therefore, implies that we must always strive to remain on top of any new technology, as this will be our bread and butter. In the case of networking, we shall be required to give advanced knowledge of hybrid platform technologies and demonstrate improved understanding of direct-connect networks and related communications.
In bringing the company together, we have tried to offer common products and service to allow us to at all times be in demand by our customers. However, continuous technological developments have presented us with a new dawn of relevant opportunities for the various individuals and organizations for which we can only project towards the needs (Robert, 2011). For instance, modern increasing innovations/development of Wireless Application Protocol (WAP) applications provides an opportunity to be realized, specifically focusing on WAP-enabled mobile phones that allow people to access or send emails to mobile phones. Interestingly, the most underlying factor in developing future products and services will be the market need. The understanding that IT Today has on these needs of our target market segments will surely be one of our significant competitive advantages over competitor providers.
IT Today branding will encompass names, designs, symbols or combination of these to present a strong personality and perceived value for the product or service in the eyes of the customers. It has to be so because many people buy depending on the strength of the brand alone rather than performance or price (Robert, 2011). Packing, on the other hand, will further convey this brand personality and essential information. Where deemed fit, favorable service contracts and warranties will be offered to our customers as a show of product or service trust, reliability, and quality.
Place Strategies
Technological support, for instance, can be provided through various platforms depending on the nature of the service and prevailing circumstance and level of urgency. Some services can be provided by words of the mouth while some situations demand physical attendance by the technical personnel. In the case of products, there has to be a proper distribution channel from the producer to the end users either directly or through distributors (middlemen). In the case of IT Today, the electrical gadgets will be obtained directly from the manufacturers or associated dealers/distributors to the end users.
We apparently form part of the computer and related electronic reselling business, which encompasses several types of businesses such as computer dealers, mobile phone dealers, chain, phones and computer stores, computer and mobile consultants. All these participants will form part of our product acquisition and vice versa as a partnership in this industry is unavoidable. With our site location, we realize that, for us to prosper, we need to be flexible and responsive, to delight clients by providing them with their wants, when they need them, and before competition arrives. The company intends to realize this by enhancing a solutions method that is customer-centric, and in which the customer's business objectives enjoy top priority
IT Today is strategically located to services. A fact that makes us have a competitive advantage over our competitors. However, as far as product acquisition is concerned, we do not possess a huge advantage over our competitors as both of us pick products from their nearest associate dealers of the manufacturing company. Technical assistance and consultancy services will in most cases, be mainly sold by word-of-mouth basis, targeting relationship creation and experience being the most factor. In this regard, we intend to give a service exceeding the expectations of the customers to ensure that they will easily refer to us potential clients through word of mouth. Subsequently, other channels of communication and sales platforms will be implemented for regular customers. Such communication platforms offered by the internet will include; email, live chats, call centers, etc Through the undertaking of our business activities, we do not foresee any difficulty, in winning market acceptance, given we render the final service timely, of good quality, and at a competitive
Pricing Strategy
Charging for the right price will really be of greater concern to IT Today because the cost structure should match the revenue structure. For example, the company should be able to afford the cost of the products, services and again make payment to its employees besides making reasonable profit. It therefore, means a proper pricing strategy has to be arrived at. This can be done by charging slightly high on the high-end, quality products and services, while offering reasonable discounts on average products (Jones, 2013). Also remember that some buyers would misjudge cheap goods and services as being of inferior quality. Therefore, a balance has to be determined to keep all products and services relevant to the market. Again, it is essential to understand the competitor pricing and reasons behind their pricing levels. As part of the competition for the market share, the company will have to weigh between lowering prices to earn more clients and keeping existing customers to enable sustainability, that is, considering economies of scale versus expensive costs with few units of sales. After conducting market pricing levels, IT Today has established that it would slightly lower its prices to enable competitive penetration into the market as a means of building client base.
Promotional methods
The promotion strategy to be used is based on the informing potential customers have of our existence and so, having the correct information and knowledge obtainable to our target market. IT Today intends to use aggressive promotional campaign and media to introduce its product and services to the market. Such public ways shall include; advertising, personal merchandising, public relation, events, and the web promoting. Since the fact that we tend to be new on the market, we, therefore, tend to undertake intensive advertising of our name, product brands and services we provide. This shall instill awareness and information of our existence within the marketplace; that shall convert into market share. We tend to advertise in business and IT magazines that are browsed by our target market and can guarantee we adequately get exposed on the market. A continuing lookout needs to be made from any special editions in these numerous publications, which can give a chance for the company to advertise its services and itself. Advertising also will be conducted through tv, radio, newspapers/magazines, and also the web. Sponsoring a technology discussion/call-in program may be important. Word of mouth or rather personal merchandising is important during this section. We'll ensure that when we gain a client, we never lose him/her. To accomplish this, we should work to ascertain and maintain relationships. Personal merchandising are a great sort of promotion as a result of its flexibility and can make us match the customer's specific attributes of our services, also as giving apothegmatic details of what we will supply.
Recognizing that we are comparatively new on the market, there'll be a requirement to prepare a happening introducing ourselves onto the market. To the present, we'll invite potential customers, senior officers, probably together with an executive and different stakeholders, to enable penetration to the market. We shall conjointly place news stories and options in magazines and newspapers to stay stakeholders updated on the newest developments and to extend awareness.
The number of IT firms on the market dictates that the organization must promote itself through participation in trade shows and expositions. Not solely can these increase awareness of our product and services, however if a particular product or service were to realize recognition, as an example through being chosen No. one in originality, the organization would be able to profit of these promotional campaigns, adding leverage to its name and company image. These expositions also will be an honest chance for us to network with numerous organizations and people. The company can sell its services over the web because it is valued sufficiently to achieve an outsized range of potential purchasers, regionally and internationally. We tend to get conjointly that customer/client analysis is required before building an efficient website, one thing that is never done by existing firms, to seek out however customers can wish to access data and journey through the location.
The intention is to require advantage of many media sources in saying the product and services and within the method imposing awareness of our existence, therefore, giving us a competitive edge over rival corporations.
References
Macarthur, H. E. (2014). New Product Marketing Strategies. How to Market Computers and Information Technology, 16-37.
Robert, C. (2011). Marketing plan. Marketing for Entrepreneurs and SMEs, 37-45.
Jones, P. (2013). Socio-Technical Structures, 4Ps and Hodges’ Model. Technologies Concepts, Methodologies, Tools and Applications, 51-66.
