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Category: Marketing Essays
Our sample marketing essays will prove helpful in formulating your own dissertation topic, objectives, literature review, methodology and analyses. Our sample marketing essays are an ideal tool for any student struggling to start their own marketing essay.
Marketing is an essential part of any business and there are many elements of marketing. By browsing our collection of marketing essays, you will get ideas for your marketing essay through the following marketing subjects:
Relationship Marketing, Branding, Direct Marketing, Marketing Cultures, Advertising, Consumer Behaviour, Marketing Trends, International Marketing, Online Marketing, Social Media Marketing, Strategic Marketing and Marketing Ethics.
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Changing Trends in Advertising
Advertising has become more about facts and figures as the competition has peaked. There are so many products out there that the customers can easily compare and buy the products that they need at better prices. The one thing that the other product company did better than you was to market their product better. How? You think you did everything that you could to sell your product in an effective way but if you pay attention, you will notice that it has been mentioned that the customer would compare the product and he/she will chose the product that fits his/her needs better. Advertising companies make an effort to know what the customers need and at what price to market their product in such a way that the customers felt like that the product was made for their use. It might seem like an easy thing to do but it is not. The customers’ choice change so rapidly and advertising companies don’t usually have time to conduct extensive studies and keep up with the market trends at the same time.
Advertising Essays
Concept of Advertising Essays
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Advertising Essays
Advertising essays are a detailed study of different aspects of advertising including consumer behaviour, trends in advertising, trends of earnings by other companies, trends of loss and profit in different advertising agencies, advertising strategies and other topics. These essays are written by professionals and expert analysts who observe the trends in market and do extensive research on the topic. Our advertising essays are easily available for university students and span most elements of marketing.
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Marketing is Important
Marketing is of course incredibly important to business. If the marketing of something is bad then people won’t even know it exists. Even companies that don’t sell things require marketing to spread the word. As such marketing is, and will always be, valuable. Let’s look at some more. There many important components of marketing. These include but are not limited to:
Market Research: Segmentation, Positioning, Targeting and The Marketing Mix
Advertising: TV, Print, Website Banner Adverts and Social Media
Sales Promotions: Special Offers, Discounts and Competitions
Public Relations: Customer Relationship, Image and Company Reputation
Sales Retention: Attracting, Capturing, Nurturing, Converting, Delivering and Maintaining Customers
A Deeper Understanding
As you’re already aware, not all marketing textbooks offer too many practical and up-to-date examples. They can only teach you the theory behind marketing. In order to gain a true understanding of marketing you need to look at marketing essays. You need to see legitimate results people and organisations have had with experimentation. Buying a marketing essay offers you an understanding of marketing that you wouldn’t get from just a textbook.
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Marketing Essays
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Below is a list of marketing material we hold in our marketing essays archive:
Marketing Analysis
International Marketing
Marketing Planning
Online Marketing
Social Media Marketing
Strategic Marketing
Marketing Ethics
Below are some well renowned organisations we have written about:
Starbucks
Hilton Hotels
McDonalds
EasyJet
Reebok
British Airways
Xerox
TESCO
Sainsbury’s
Etihad Airlines
PUMA
Ryanair
Ford Motors
Adidas
Guinness
Lenovo
Tata Motors
Marks & Spencer
Waitrose
Coca Cola
Kraft Foods
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Brainstorm. Clustering works best for most people. Also, it’s a good idea to talk to other people about the marketing topic.
Organize your ideas into groups of related ideas.
Make an outline with three main ideas which all support your overall main idea.
Start writing the marketing essay at the body of your essay (main point 1, main point 2, and main point 3) with at least one paragraph for each main idea. (Do not write the introduction or conclusion yet)
Summarize the whole body (your three main ideas) in one paragraph with at least one sentence for each main idea. You can add some opinion or suggestions at the end. This is your conclusion.
Summarize your conclusion in one sentence. This is your thesis statement. Put this right before your first main idea. It will be the last sentence of your introduction.
Write a funnel introduction (general to specific) that ends with the essay statement you wrote in the previous step.
Summarize your thesis statement in two to five words. This is your title. Put it at the beginning of your marketing essay, and don’t forget to center it. Now your first draft is finished.
Put your name, class name, professors name, and date at the top left or top right of the essay.
Edit your essay. Most people find it best to print it out on paper and write editing marks by hand and then enter the changes on the computer. This will be your second draft.
Get a friend or professional to edit your second draft (by hand). Enter these changes and print it out again. This is your third or final draft, depending on whether you have time for another draft.
Tesco is a multinational grocery and general merchandize retailer which is based and has its origin in the United Kingdom. The organization is the third largest retailer in the world with a global presence in more than 12 countries. The United Kingdom is the main market for the organization which has been successful because of its brand reputation and image. The organization offers products and services which are according to the customers’ preferences. Tesco has been able to create a dynamic business strategy which is based upon meeting the needs of customer segments. It conducts extensive market analysis as a means of ensuring the highest levels of efficiency and effectiveness (Blythe, 2006). It has a product diversification strategy as it has transformed itself from a food retailer to offer non-food products and services like beauty products, consumer electronics, DVDs, financial and insurance services. Tesco has also been successful because it employs technology for its robust business activities. Tesco.com is one of the highest successful online shopping portals in the United Kingdom. Technology is being used to integrate and streamline business operations and achieve operational excellence. The success of Tesco has been its ability to make accurate forecasts. Tesco needs to pursue an aggressive internationalization strategy by targeting new markets. China is a potential market which can help to achieve its business goals. This proposal will seek to elucidate the importance of penetrating the Chinese market.
Literature Review
Globalization has been a powerful social and economic force which has a profound influence on the business environment of the twenty first century. The creation of a single market has led to the development of numerous opportunities for organizations as they strive to focus on emerging economies (Beamish & Ashford, 2008: p. 76).Moreover, the nature of globalization is such that there is an emphasis on remaining profitable by taking advantage of the opportunities that specific markets offer. Globalization creates intense competition which can lead companies to reduce their costs and improve their products. Organizations under competition have to perform at optimum levels by offering superior products and services. Technological adaptation is another byproduct of this phenomenon as it can help to streamline and automate the key processes. This has further increased competition among international corporations and has allowed them to expand their businesses across the globe. In the supermarket industry, international companies such as Tesco and Walmart are some of the prominent names that have successfully expanded their businesses internationally. These expansions allow organizations to increase their presence in the market, sustain competitive advantage, generate revenues and win loyalties of customers(Blythe, 2006, Beamish & Ashford, 2008, Darwar& Chattopadhay, 2012). Their marketing strategy is based on meeting consumer demands and ensuring that they adapt within the market they operate.
The production and manufacturing capabilities of organizations are enhanced when they take advantage of low labor rates in developing countries. The results are that production costs are reduced while selling products at competitive rates which in turn can increase the market share of the organizations (Darwar& Chattopadhay, 2012, Doyle & Stern, 2006). Organizations seeking to penetrate international markets strive to increase the value of their products and services while striving to reduce the cost base (Cravens & Piercy, 2006: p. 34).The external and internal variables can play a key role in the performance of organizations as they move into international markets. Organizations must be able to have access to technology, labor, capital, logistics, and infrastructure in order to succeed. The goal of conducting business in international markets is essential since any organization that fails to penetrate markets will witness a reduction in its competitive advantages.
The huge size of the international markets means that potential customers are living abroad. Moreover, the failure to penetrate international markets means that organizations will be unable to enhance their customer loyalty and brand recognition. Serving multiple markets in a seamless fashion is important part of success. Empirical studies have sought to identify the critical success factors which enable organizations to penetrate international markets (Haji-Basri, 2012, Levy, 2012). Firstly, organizations are able to select the best market entry mode which is according to their expertise and experience. The market entry mode should be based upon conducting research of the market in an efficient and effective manner. This is important because competitors’ analysis and customers’ behaviors can help the organization in understanding the needs of the market environment.
Secondly, organizations must be willing to leverage their core competencies in such a manner that they are able to reduce costs and improve profits. A global business strategy should be customized in accordance with the conditions of the market. Adaptation to the local market means that the organization is able to create a customized marketing strategy (Doole & Lowe, 2005: p. 76).Thirdly, the organization must be able to implement innovation at multiple levels. This approach is beneficial since it will help the organization to attain strategic competitive success. Finally, it is important for organizations to develop the robust frameworks that can enable them to create flexible, agile, and scalable business structures (Doyle & Stern, 2006: p. 93).The use of multiple strategies is important for success as it will lead to long term innovation that will benefit the entire organization.
Research Methodology
Research is defined as the process of investigating new phenomenon and validating existing theories and frameworks. It seeks to understand the theoretical assumptions behind specific studies by challenging them or modifying them. Selecting the appropriate research methodology is important part of the process. Primary research for this report will be carried out through a questionnaire which will be emailed to the business unit managers of Tesco. The benefits of primary research are that it enables the researcher to directly participate in the process. Moreover, the results can be quickly obtained through the questionnaire method. This method can save significant time. Secondary research for this report will be carried out through the systematic analysis of existing studies related to marketing and global business. Specifically, the studies will be selected based upon their relevance, reliability, and authenticity.
Secondary research is beneficial in many ways. Firstly, it helps to reduce time as existing studies can be employed for success. Secondly, it uses the vast literature in order to create a theoretical framework which can be beneficial in answering the research aims and questions of the report. Thirdly, secondary research helps the researcher to have access to resources in an efficient manner which will be used to solve the research problems (Levy, 2012).
Organizational Strategy and Market Characteristics
Empirical studies have found evidence that grocery sales in China are estimated to be around £600 billion in the year 2013 (Zhao, 2014: p. 184). There are 221 cities in the country which will witness an increase in population by the year 2025 (Zhao, 2014: p. 184). Moreover, urban dwellers are the largest customer segments which offer significant market potential for organizations like Tesco. Shopping malls are now popular places for supermarkets. The impressive standards of living among the middle class have enabled Chinese customers to focus on higher quality of life. This creates superior business opportunities for organizations like Tesco that are working in the retail market. Household spending on healthcare, transportation, and telecom services have doubled as compared with the last decade. The indicators prove that the customer segments have disposable incomes that allow discretionary spending. Tesco’s strategy in China can be based upon its key competitive advantages (Tesco PLC, 2014).
Branding and reputation are the key attributes of the organization which helps it to achieve core strategic advantage. Careful branded packaging and promotion can generate excellence value for Chinese customers (Zhao, 2014: p. 184).Supply chain management and logistics in China should be able to respond to the dynamic and complex environment by enabling Tesco’s management to make accurate forecasts. Technology can be used to maintain inventory and assess business transactions. This will help the management to make forecasts about the entire environment through the use of innovation and creativity (Levy, 2012). ICT technologies can help the organization to play a critical role in business strategy formulation. Creating value for customers and offering products that are difficult to emulate can be the core strategies in China provided Tesco is able to understand the dynamics of the market.
Tesco Marketing Proposal
SWOT Analysis
Strengths
Tesco has transformed itself into an international retailer that sells food, clothing, household products, banking services, and others. The traditional market of the company has been the United Kingdom but in the past ten years, it has sought to expand into different international markets. International expansion is considered to be vital for the growth of the company as it helps to diversify income streams and enables it to take the advantages of globalization by using an efficient and effective marketing strategy (Zhao, 2014: p. 184).The competitive strength of Tesco is that it is the third largest international retailer in the world. The growth rate annually has been projected to be around 12% since the past decade. Strong partnerships with suppliers and other partners help the company to offer products and services in different markets. An effective supply chain management system helps the organization to manage its operations in a lean and flexible manner.
Weaknesses
The international expansion strategy of the company remains weak as compared with that of its competitors. Product diversification is a weakness because the profitability can be impacted because of bad debt from credit cards. Tesco has inexperience in certain growing markets like smart phones and tablet PCs. New web technologies and IT require investments which can streamline and automate the core processes (Imrie & Dolton, 2014: p. 84).
Opportunities
There are different opportunities for Tesco which can move into various product categories like digital entertainment, smart phones, and tablet PCs. Foreign markets like China, Malaysia, South Korea, and others offer significant business potential for the entire organization. Online shopping can be enhanced as a means of ensuring robust success within a short period of time. Increasing value proposition for existing and new customer segments can be a beneficial strategy by the organization as it can lead to the highest levels of efficiency and effectiveness (Tesco PLC, 2014).
Threats
Tesco can face significant threats from local and international competitors. Furthermore, the economic recession has reduced the spending power of customers which means that there can be a reduced profitability for non-food products and services. International expansion is a good option for Tesco but each country has different levels of regulation and laws which must be complied by international organizations in order to achieve critical success within a short period of time (Imrie & Dolton, 2014: p. 84).
PEST Analysis
Political Factors
The political factors inside any country can be related to taxes, legislation, and country stability. China is a rapidly emerging economy which has pursued investor friendly business policies. There is an increased demand for retailers which can help to create jobs for the local population and improve the local economy. The Chinese government is authoritarian in nature but it has been pragmatic enough to pursue policies which can help it to remain integrated with the overall global markets (Dowling, 2006: p. 91). Political stability in China is relatively high which offers a congenial environment for foreign investment. This is important because it helps to ensure the highest levels of efficiency and effectiveness.
Economic Factors
The economic factors are concerned with the costs, profits, and prices that a company must take into consideration while operating in a foreign market. The goal of the company should be to conduct an internal and external analysis which can be used to understand the dynamics of the market. China’s rising middle class enjoys highly disposable incomes which makes them one of the largest customer segments in the world (Ferrell & Hartline, 2007: p. 98).Furthermore, the middle class has awareness and perception regarding foreign brands which is considered to be part of their affluent lifestyle.
Social Factors
Social factors exert a profound influence on the purchasing behaviors of customers. Tesco needs to take into account the social and demographic changes which have taken place in China in order to formulate a robust and dynamic strategy for change (Hooley & Piercy, 2008: p. 123). The goal should be to create efficient and effective approaches which can be used to penetrate the market. Food and non-food items can be introduced in the Chinese market in accordance with the dynamics of the market. Customers in China have high levels of awareness and perception regarding foreign products.
Technological Factors
Operating in any market means that companies should be able to focus on operational excellence and competitive advantage. Technology helps to achieve this critical goal with the focus on achieving long term market share. The goals of companies like Tesco should be to make investments in technology which result in efficient business processes and help to provide real time data to the management which can be used in the decision making processes. Outlets should employ technology to reduce waiting time for customers. RFID can be employed for inventory management. Communication systems can be used to link main office with various outlets for making decisions and obtaining real time information (Hooley & Piercy, 2008: p. 123).The use of an integrated strategy can help to accomplish the critical goals within a short period of time.
Conclusion
Tesco is the third largest retailer in the world which has been achieved because of its core competencies. The core competencies of the organization have included the ability to successfully develop a core business model that is flexible and adaptable in accordance with the competitive nature of global markets. Strategy formulation in Tesco is based upon the use of market research which helps to achieve efficiency and effectiveness. A complete internal and external analysis is conducted by the organization in order to achieve its critical targets within a short period of time. Tesco’s strategic growth model seeks to focus on cost and product differentiation as mixed strategies that enable future growth and development. China is an attractive market for internationalization because it will help Tesco to take advantage of the business opportunities. China’s middle class segments have increased with highly disposable incomes. Moreover, Chinese customers are spending on clothes, luxury products, healthcare, and others as part of the drive to improve their quality of life. This helps to ensure the success of the retail market. Tesco can take advantage of the Chinese market by using a systematic and calculated approach. It needs to use its core competencies which can be adapted in accordance with the local market conditions. Moreover, it needs to focus on using its core competencies as a means of ensuring the highest levels of success within a short period of time. Technology can be used to maintain inventory and assess business transactions. This will help the management to make forecasts about the entire environment through the use of innovation and creativity. ICT technologies can help the organization to play a critical role in business strategy formulation. Creating value for customers and offering products that are difficult to emulate can be the core strategies in China provided Tesco is able to understand the dynamics of the market.
References
Blythe, J. (2006). Principles and practice of marketing. London: Cengage Learning.
Beamish, K. & Ashford, R. 2008. Marketing planning. London: Elsevier Science
Haji-Basri, M. 2012, “Marketing Research Contemporary Themes and Trends”, Interdisciplinary Journal of Contemporary Research In Business,vol. 4, no. 5, pp. 17-24
Hooley, G., Piercy, N.E. & Nicoulaud, B. 2008. Marketing strategy and competitive positioning. 4th ed. Essex: Pearson Prentice-Hall.
Levy, SJ 2012, ‘Marketing management and marketing research’, Journal Of Marketing Management, 28, 1/2, pp. 8-13, Business Source Complete, EBSCOhost, viewed 25 January 2015
Zhao, S. (2014). Analyzing and Evaluating Critically Tesco’s Current Operations Management. Journal of Management and Sustainability, 4(4), p184
Imrie, R., & Dolton, M. (2014) From supermarkets to community building: Tesco PLC, sustainable place-making and urban regeneration. Sustainable London?: The future of a global city, 173
Domino’s Pizza is a company that has been in existence since the 1960s and has used various marketing strategies in order to ensure it achieves its marketing goals. The organization’s logo was initially planned to include another dot with the expansion of each new store, yet this thought immediately blurred, as Domino’s accomplished quick development. Reflecting Domino’s development, the organization had extended to 200 saves by 1978. During 1975, Domino’s confronted a claim by Amstar Corporation, the creator of Domino Sugar, asserting a trademark encroachment and uncalled for rivalry. In May, the Court of Appeal in the New Orleans found for Domino’s Pizza. This strategy helped protect their market and customers from copyright infringement.
Evaluation of current competitive advantage
In evaluating the current competitive advantage for Dominos, it is quite imperative to understand the company’s current market and how it has survived through the market to gain its marketing niche. Evidently, the company has achieved great success in its current market due to various marketing strategies such as the use of SWOT analysis to help in ensuring it identifies its strengths and weaknesses in order to carry out its activities in an effective environment.
SWOT Analysis
Strengths (S)
The company has a competent leadership that will steer it towards success through effective marketing.
The provision of after sales services and other support services for the clients will give the company a competitive advantage such as Pizza deliveries
Weaknesses (W)
The company is venturing into new territory with no prior experience. This might work as a disadvantage to them as they might not know how to handle any arising issues due to lack of experience.
The company could face challenges in the lack of enough finances to propel the strategy and goals of the company.
Opportunity (O)
The company’s employees and management can engage in tactical marketing by promoting their services in the local newspapers.
Threats (T)
Dominos faces threats from the bargaining power of its suppliers. This makes it challenging for the company to grab a large market share.
In May 1983, Domino’s got to open its first worldwide store, in Winnipeg in Canada. Domino’s also opened a 1,000th store. In 1985, they opened the first store in the UK in Luton. In 1985, Domino’s had the first stores in Tokyo, Japan. By 1996, Domino’s had stretched to 1,200 global areas. In 1997, Domino’s launched its 1,400th universal area, opening seven saves in one day over five continents. Between 2007 and 2012, Domino’s bit by bit secured the vicinity in India with no less than 1,000 zones by 2012. By the start of 2014, the organization had developed to 6,000 worldwide areas and wanted to stretch to the pizza’s origination, Italy. President Patrick Doyle during May 2014 said the organization would focus on its conveyance demonstration there. This paper seeks to look at how Domino’s will use the various marketing strategies in their African outlet in South Africa.
Domino’s Mission Statement
Dominos has a simple and clear mission which states, Sell more Pizza, have more fun!
Reasons for choosing South Africa
South Africa is situated as an upper-focus wage economy by the World Bank and is viewed as of late industrialized country. Its economy is the second greatest in Africa and the 28th-greatest on the planet in the extent of buying. South Africa has the seventh most elevated for every capita for each wage in Africa, notwithstanding the way that poverty and predisposition stay in all cases, with around a quarter of the masses unemployed. In any case, South Africa has been perceived as a middle power in worldwide issues and kept up huge territorial effect (Blecker, 2006).
Market Analysis Summary
South Africa comprises a mixed economy, the second greatest in Africa after Nigeria. It similarly has a reasonably high GDP for each capita stood out from distinctive countries in Sub-Saharan Africa. The food business in South Africa has united liberally starting late, and today a discriminating number of the greater pizza makers have budgetary associations or key plots with the critical South African retailers. The pizza industry, on the other hand, has greatly improved altogether. So have the five greatest retailers, and together this record for about a large portion of total retail bargains in South Africa.
The Pest Investigation
Political
It suggests the courses in which the government can intercede in an economy in regards to natural and work laws, obligations, exchange confinements and obligation methodologies. It moreover exhibits how the organization can impact preparing and prosperity and how it will impact the base the associations. As a South African government Plan follows, the structure of the economy will be changed over through industrialization, wide based dim budgetary fortifying and bracing and broadening the piece of the state in the economy. The company currently has a soft landing due to the implementation of various government strategies to the South African market. In order to achieve the best service delivery in the market, the firm has come up with the best strategies that can be used to ensure that the marketing environment favours them. Additionally, the government tariffs in South Africa are affordable for the company hence allowing it to carry out business activities effectively without having to face strict policies (Stevens, 2007).
Investment Factors
South Africa has jumped over two spots to transform into the thirteenth most-appealing end of the line for outside quick financing, according to a late survey by overall guiding firm AT Kearney.
The outcome of the 2014 Foreign Direct Investment Confidence Index, which takes in the viewpoints of senior executives from 300 of the world’s heading associations in 26, separates countries. South Africa being one of the best performing nations in Africa, investment factors directly favour the company hence allowing it to have as much outlets as it can manage.
Economic Factors
Strong economies have more money being differentiated in a given gathering; there are various financing assumptions that impact retail arrangements, and these need to get explored with a determined eye. One of the best-budgetary parts that impact retail arrangements is occupation open entryways, which particularly prompts the included discretionary pay of people that imagine that it hard to contradict inspiration buying, and who have no issue gathering gigantic charge card commitment to keep up a certain lifestyle. South Africa’s economy is seen as “unobtrusively free,” being surveyed as the 74th autonomous economy of 177 countries. It is situated sixth, out of 46 countries in sub-Saharan Africa. The economic factors in South Africa are quite useful since they have allowed the company to gain popularity and increased the earnings of the company over time (Stevens, 2007).
Target Segment and Marketing Strategies
The target of Domino’s pizza is to serve the locals with a grouping of types of foods that they encounter issues finding in one spot at any supportive time. We will serve every ethnic gathering with a blended pack of pieces of foods depending upon their feelings. These business segments get underserved in the noteworthy retail outlets. In South Africa, the potential for the clients to purchase will be higher. Since it has a marginally lower unemployment level as contrasted with other African nations consequently, they can buy our items
Market Needs
Domino’s Pizza needs to ensure that it carries out an effective research on the market needs of various prospective buyers by including its list of preferred products in the brochures that should be distributed to the customers within the shortest time possible. In addition, identifying the market needs will also help the firm in ensuring that it achieves the best competitive advantage strategies that will help in making sure its marketing strategies are effective.
Market Trends
Practicality is basic to the organization’s long haul achievement. It has risen up out of the need to certification it continues succeeding inside an unquestionably pressurized and eccentric nature, by making fitting abilities and breaking points. The manageability wander has helped the social event expand a deeper understanding of nature’s turf in which it meets expectations, clearing up the specific internal and outside issues most separating to long term viability. Moreover, the approaching examples and change in plans that will help Domino survive is its values and takes after styles and new examples among youngsters (Pliniussen, et al., 2002).
Market Growth
The GDP in South Africa annually was about 0.6 percent during the first three months of 2014 over the past quarter. GDP Growth Proportion in South Africa found the middle value of 3.16 Percent between 1993 and 2014. The growth proportion in South Africa is encouraging since it encourages investors in South Africa. As a result, it is quite imperative to help in ensuring that the market is fully occupied by their products in order to gain access to more customers. Marketing being one of the factors that guide the development of a firm’s products or services, there is need to help in ensuring that the products will lead increase in profitability.
Marketing Strategies
Domino’s competitive position in 3 years’ time
In the next three years, the company aims at covering the best market share and giving the best services to their customers. As a result of intense marketing strategies that involve proper market research and consumer acceptability, the firms aims at being one of the largest in the South African market. Additionally, it is apparent that proper market analysis and use of Porter’s Five forces of competitive advantage will allow the firm to gain the best customer trust. It is also evident that firms need to ensure that they give the best services since there is need to have as many customers as possible.
Industry Analysis
In order to achieve the best competitive position in the next three years, the company needs to ensure that it works with the industry analysis to ensure that it identifies the gaps in the market. Our thorough appraisal of South Africa’s working surroundings and the viewpoint for its heading divisions are structured by bringing together an abundance of information on worldwide markets that influence South Africa, and in addition the most-recent industry advancements that could affect South Africa’s commercial enterprises. This interesting coordinated methodology has provided for us an impeccable record of accomplishment for foreseeing imperative movements in the business sectors, guaranteeing we are mindful of the most-recent business open doors and dangers in South Africa before our rivals (Kim, Fiore & Kim 2011).In the year under audit, South Africa was a solid entertainer regarding the matter of getting credit (first), securing financial specialists (tenth) and instalment of assessments (32nd). It got positioned at an impressive 39 for managing development allows, and beginning a business in South Africa is additionally simpler (53rd). Moreover, the best approach to powerful arranging is using a showed wanting to look at your product’s marketability (Stevens 2007).
Main Competitors
Understanding the major competitors is important in helping the company chat its way towards the achievement of its marketing goals. Knowing our competitors’ sales technique and the apparent nature of their stock will help us know how to come in, as a new Pizza business. Dominos is the largest pizza manufacturer in the country. It supplies major retailers such as Woolworths, Truworths and Econ. Domino’s has been experiencing financial difficulties since 2008, this provides us with a good opportunity Armani is financially stable (Okonkwo 2007).
Pricing Strategy
Pricing is a part of the advertising blend that decides your organization’s profit potential. In a focused business sector, the objective is to offer what clients need and to set costs that the market is ready to endure (Engle 2008). We will utilize different estimating routines as part of the request to draw in our clients. By using the most favourable prices, the company aims at becoming the customers’ most preferred outlet in South Africa and the African continent.
Competitive Pricing
A pricing strategy involves setting your apparel prices below or above the competition. As a firm that needs to build the best marketing strategies, competitive pricing is one of the most preferred strategies that the firm seeks to use in order to gain the highest market share in three years. In addition, the firm seeks to provide special services that are not offered by other firms in order to gain more customer loyalty. In three years, the firm seeks to include delivery services to customers who might need the products of the company but are not able to reach the firms premises (Mills, 2002).
Markup Based on Cost
A mark-up-based-on-expense procedure considers the assembling expense of a thing and the most-elevated value the business sector can stand to return adequate net revenue. In three years, the firm seeks to come up with the most effective way of attaining customer trust by selling its products such the high quality pizza. Regularly evaluating involves multiplying the assembling expense of a particular thing to yield a real or proposed retail cost. In order to become the best firm in South Africa, Domino needs to utilize this strategy in order to gain the highest number of customer.
Discount Pricing
There are a few approaches to Discount Pricing to expand client loyalty and helps guarantee overall revenues, for example, by offering coupons, gift certificates, occasional deals and in-store cross-promotions (Harrison St. John, 2008).
Clear recommendations on what the company needs to do to achieve the three strategies
In order to achieve the above strategies, the company needs to use Porter’s five forces of competitive advantage. Ideally, the strategies will help in ensuring the company attains the best in the market in order to beat its competitors and gain the highest market share.
The first force I would look into is Supplier Power: Here I would assess the ease of driving up prices by suppliers. Under this force, I would asses various suppliers and their prices. In addition, I would evaluate their effect and control on the business the management is intending to buy. The lesser the supplier choices the business has, and the more the business need the help of suppliers, the more powerful our suppliers would be (Blecker, 2006).
The second force is Buyer Power: under this, the company should ask the ease at which buyers can drive prices down. Moreover, this force would be driven by the number of buyers, as well as each buyer’s effect on the business that the management intends to buy. If the company deals with few buyers, who are powerful, then the buyers can often dictate terms to the business.
The third force that I would use is Competitive Rivalry: here, it is essential to look at the capabilities of the firm’s competitors. If the firm’s competitors have high quality products that are of more friendly prices, then I would advise the management not buy the business. On the contrary, if the firm has weaker competitors with low quality goods and services, then I would advise the management to carry out the purchase.
The forth force that I would consider Threat of Substitution: This factor is mainly affected by the customers’ ability to find an alternative source of what the company supplies. If substitution of the firm’s goods or services is easier for the consumers and substitution is viable, then I would advise the management not to buy the business since this would weaken the power of the firm. The last force, according to Porter, is the Threat of New Entry: this is looked in the perspective of other firms entering the market. If the business would cost little time, legal requirements or money to enter our market and compete efficiently, then I would advise the management to buy the new firm. In addition, if the economies of scale are few, then I would advise the company not to purchase the business since that would weaken the company power. In case the business has strong and durable entry barriers, then I would advise the management to take advantage and purchase it. This would eventually have a great impact in helping the company gain the best market share.
Another major factor that needs to be used in order to access the largest market share is technology. Specifically, the firm can use technology in advertising and making good use of its available computers to reach customers via the social media channels and other technological adverts. As a result, the company will have better access to the best clients who will help in improving its profits and marketing strategies (Kalb, 2007).
Recommendation
Domino’s Pizza needs to ensure that it implements all the strategies mentioned in the paper in order to achieve its marketing objectives and in order to get a larger market share for its products. In addition, the company needs to ensure that it works towards achieving the best sales from the products due to better pricing and marketing techniques. Besides, Domino’s has to come up with the most achievable objectives that will help it work towards maintaining the current marketing position. This can be done by opening a number of international branches. The South African branch should, therefore, work with other branches to help Dominos become successful in its marketing strategies.
References
Harrison, J. & St. John, H (2008) Foundations in Marketing Strategies. Mason, OH: Thomson/South-Western.
Kalb, I. S (2007) Fundamentals of High-Technology Marketing Strategies: What Marketers Need to Know. Los Angeles: K & A Press.
Mills, G (2002) Retail Pricing Marketing Strategies and Market Power. Melbourne: University Press.
Stevens, R. E (2007) Marketing Strategies Opportunity Analysis: Text and Cases. New York, Best Business Books.
Schindler, R (2012) Pricing Strategies: A Marketing Strategies Approach. Thousand Oaks, California Sage Publications, Inc.
Blecker, T (2006) Marketing Strategies, Customer Interaction and Customer Integration. Berlin, Gito
Pliniussen, J. Jones, T & Cram, W. A (2002). Business Case Analysis Process: Workbook With Software: Broadening the Perspective. Concord, Ont., Canada, Captus Press.
Communication Strategy IBM InvenSense – In this modern world of technology, a primary focus on network reliability is a quite understandable issue. From a business perspective, it is clear that availability and proper performance of a network will result in high productivity and will serve as a competitive tool against competitors. Networking is able to provide an environment that merges both communication and information through connecting computers and other devices to others in various departments of the organization. This facilitates competitive strategies such as cost leadership through reduction of cost brought about by sharing of both hardware and software resources.
Moreover, differentiation can be used since a business can be well aware of exactly what its customers want through market research and feedback communication mechanisms all because internal and external networks have been formulated. The International Business Machines Corporation (IBM), a manufacturer and marketer of computer hardware and software elements, fully understands the importance of having a complete networking system. InvenSense, a motion tracking Sensor Company has also integrated a business communication network in their day-to-day activities.
In today’s world, communication and networking are vital features to the success and continuity of every business empire. Networking is a priceless and critical business skill that is a key for any organization to visualize success. In other words, a company’s network allows the employers and the employees to have effective communication among the different departments and the global market. The main goal of every company is to boost their productivity, but at the same time reduce on the cost of production.
There is need for advanced technological establishments in order to improve the communication experience in an organization. Consequently, the organization will achieve its goal of boosting productivity since flow of information will be fast. Devices such as Laptops, mobile phones, and tablets have immensely improved the communication in different capacities making the world a global village. People are able to communicate at any time and pass vital information without risk of security breaches.
This has been made possible by network security, which allows, a user to access the internet while being protected from threats and protecting the resources connected to the network. Even though most of the threats emanate from the internet, it is crucial for security to be deployed in order to protect internal users from viruses and prevent them from misusing resources and altering information.
IBM, which is a multinational organization, aims at offering a simplified, cost-effective, agile and security-rich networking infrastructure. On the other hand, InvenSense is a company that offers its clients system chips with motion-tracking sensors to install on devices such as tablets, smartphones, and remote controls. Both IBM and InvenSense have acknowledged the significance of having a network system that is reliable, safe from threats, and offers fast communication that minimizes errors and boosts productivity.
Scope of the Research
In this third section of the research, the writer will focus on the IBM’s and InvenSense business systems, the manner in which the two companies run their day to day business activities, the network related systems they have incorporated in their business as well as the business communication strategies put in place.
Overview of IBM
International Business Machines Corporations, which is simply known to many, as IBM is a technological and consulting Multinational Corporation, based in the United States of America. IBM is an inventor and seller of both software and hardware elements of a computer and offers consultancy services as well as provides infrastructure hosting for its customers. In addition, IBM offer a vast pool of many other services such as outsourcing, training, technical and maintenance support, just to mention a few.
IBM accounts for about 90 billion in revenue per year. The multinational corporation is composed of five segments, which contribute to its overall productivity and profitability. These segments include Global Financing, Software, Global Technological Services, which happens to be the largest income generator of the company, Global Services and Technology and Systems.
IBM may have started as the founder of the computer and may have enjoyed some monopolistic position for a very short while before other companies emerged with new computer innovations and services. The emergence of desktop and laptop computers, distributing computing, open systems and the World Wide Web, which is empowered by the Internet, are some of the technologies that have rendered the market extremely competitive.
The proprietary standards that were previously held by the founding companies of computers have been cast aside due to easy accessibility of information from open systems and the Internet. This has brought about competition for IBM forcing them to tremendously improve on their networking and communication systems.
IBM Business Systems and Solutions
The company’s business solutions have a collection of Web applications that have been built to run on the J2EE platform that has been provided by IBM WebSphere Application Server. This application provides integrated solutions to meet common business needs that are compatible with the existing server components, applications, and enterprise data. IBM Business Solutions exemplify the significance of integrating e-business solutions, increasing worker productivity, and providing services that any kind of business would find easy and useful to use.
IBM Business Solutions is integrated with IBM WebSphere Application Server, browser based and Java-built applications that are ready to use (SV, 2013). These applications are usually designed to run separately or at other times work together in order to share configuration properties and resources.
IBM is uniquely positioned to meet all the evolving customer demand and requirements. By incorporating its simple to use, agile and cost effective solutions, the company has been able to help in the transformation of storage models. The business systems and modernization has cost-effectively helped to evolve the IT system incrementally thus ensuring a modernized architecture and technology for Smarter Computing.
IBM Communication Strategy
With the growing demand for IT, service quality, and technological advancement, it is necessary to incorporate an infrastructure that can provide agility and handle the handle the needs of the growing business. IBM’s Communications Service Provider Network Infrastructure Services blends access, multiple transport and network services. This is usually coupled with events in real-time networks and dynamic customer information in order to deliver individual-based content and services.
A healthy Unified Communications (UC) solution helps a business to address inefficient collaboration and communication between the employees and their partners. In the long-run, this results in the enhanced customer relationships, improved productivity, and loyalty. IBM Converged Communications Services for UC assessment and strategy leverages the company’s methodologies, time-tested tools, and key capabilities to assist in planning, designing, and transitioning into a cloud-based UC model. This model is designed to support the company’s cost, collaboration, and productivity objectives (CMO, 2007).
In this present world, there are more ways of communicating than they have ever existed before. These methods have continued to multiply and therefore, it is necessary to integrate all communications technologies. These technologies include data, video or voice. IBM has incorporated all these new form of communication and this has facilitated collaboration, reduced costs, improved productivity, and increased operational flexibility.
The IBM Converged Communications Services has provided a portfolio of integration, consulting, deployment and management services. This has helped in the building of integrated communications and networking environments. This environments help in the reduction of costs by reforming network management support, improves productivity using voice, video and data, and supports a mobile workforce and operations.
Overview of Network and Communication Failures in InvenSense
InvenSense is one of the leading producers of Micro-electromechanical systems (MEMS) in the world with its sensors playing a huge role in the semiconductor market. Its use in smartphones has revolutionalised the technology world with the major improvements it has made over the years with the smartphone camera and GPS on-board smartphones. Different problems had been identified in the communication systems and some network elements in the company that would require changes to improve the company’s overall performance.
Since a proper and efficient business network system mainly involves operational efficiency, customer responsiveness, cost saving and security, these are the main elements that are to be considered by the company (Cisco Systems, Inc., 1992-2007). These are the main issues that need to be addressed to ensure that the network elements are all working to the best interest of the company to improve the company’s business operations.
Solutions to Network System Failures
There are different procedures that can be followed by InvenSense to ensure that the business network runs as efficiently as possible. This is the main element of any successful business since it ensures that there is a smooth flow of ideas and information all around the company. Such flow is significant since it reduces the amount of time needed to respond to a particular issue as well as the normal protocols followed by the company.
Solutions will have to be implemented to avoid such problems and ensure that InvenSense continues to run smoothly and makes profit from the market. The business network will have to address issues such as these to ensure smooth running and proper management of the company.
Operational Efficiency
This means that the network system should be efficient enough to enable all the parties involved to be able to use the system properly and find their desired solution in the shortest time possible. InvenSense therefore has to ensure that its system is flexible enough so that it can be easily modified to suit the needs of any party that may require assistance in a particular field. Increased reliability of the network will also help improve communication among employees and customers.
Communication Strategy
Providing the employees will all the necessary information consistently at InvenSense will ensure that there is improved reaction times that are important in achieving effectiveness for the company. This will create competitive advantages over other competitors whose systems may be down or sluggish at times. Therefore having a system that is reliable and easy to access for the employees will enable them to improve productivity since they can access services in the shortest time and serve customer needs in time (Jia & Zhou, 2006).
In the case of InvenSense, it will be able to receive orders from potential customers who may require particular sensors for their companies. If the employees can access the network properly, they will be able to interact with the customers and answer all their queries in the shortest time possible therefore improving their individual performance.
Apart from that, developing a long-term technology plan for the company will enable it cut down on disruptions that may hinder the company’s productivity. Taking note of factors in the network or equipment that will serve for longer periods is the key factor in this solution. Therefore, InvenSense has to map out all the business objectives that it has for both the current term and the future.
This will enable the company to acquire hardware and other solutions that cover these two scenarios. Therefore, the company will be able to plan and acquire the right infrastructure to deal with the long-term goals as well as the short-term ones. This will ensure that there are no disruptions caused by a need to upgrade or get new equipment once the system is already running (Jia & Zhou, 2006).
Cost Containment
InvenSense should also strive to ensure that the network system should be cost effective and not a liability to the company. The network should be in such a way that it is able to provide the essential communication services to the company in the simplest way possible without inflating the operational costs. This means that the network at InvenSense should be able to offer video, data and voice communication through the company, which will simplify the whole operation of the system as well as reduce the huge expenses that may be required to operate a telecommunication system (Cisco Systems, Inc., 1992-2007). Such improvements in the networks will reduce the need for mobility of employees from one department to another as well as save time therefore increasing overall productivity for the company.
Apart from that, it will also enable the company to eliminate technology that may be redundant hence saving costs since only the necessary items will be integrated into the system each with a specific function. Getting less complex hardware will be cost effective since it will be much easier to operate and maintain such a system. This means that system-operating costs increase with the complex nature of the system even though the network may be more capable and cheap to acquire (Lewis, 2006).
Since professionals will be involved to run and operate the system which evolves with time, therefore the cost to run them will increase depending on the type of system that the company will choose to take up. InvenSense therefore has to choose a system is capable but not too complex that it will require more money to operate by hiring more professionals to deal with its operation. Additionally, this means that the company will also have to invest in training its staff to deal with certain problems that may affect the system instead of having to hire a person to come fix a problem once it happens which may be more expensive.
Security Improvement
The security of any network system is very critical for the business to succeed and therefore this needs to be one of the top priorities in InvenSense. Since it is a top IT company in the world that is a leader in sensor production, it is prone to attacks from people that may want the company data to gain illegally from it. Protecting the company data is important since it ensures the safety of the company’s assets as well as the consumer information (Cisco Systems, Inc., 1992-2007). A proper security system should be able to identify any internal and external threats to the company secure customer information as well as detecting and stopping any malware threats to the company’s network system.
Increased use of IT all over the world in businesses to maintain a competitive edge has also led to an increase in threats to these businesses due to cybercrime. InvenSense is no exception to such cyber-attacks and has to implement measures to ensure that its network is safe from all possible intrusions.
Acquiring Transport Layer Security (TLS) in the company will enable it to send and receive messages or data across which in turn will enable confidentiality among the parties and partners involved (Jia & Zhou, 2006). A huge company like InvenSense has a lot of confidential information flowing which cause a disaster if any of the information would leak out. This means that a transport layer security will ensure that all the information flowing through the company system is encrypted and can only be accessed by the party it is intended to after an authentication key is entered.
The TLS protocol is designed in such a way that it is almost impossible to tamper with communication across a network thus greatly improving the networks security. This implemented together with the company own firewalls will be a great advantage to InvenSense since it will have an extra layer of protection to the information that passes through the network system.
Solution to Communication System Failures
As any huge company, InvenSense may experience problems in communication that may be disastrous if not handled properly and lead to massive losses for the company. Since it deals with very sensitive and private information at times, it is important that the means of communication used is very secure and reliable to ensure that the information being sent reaches the intended recipient on time (Lewis, 2006).
The company needs to create a platform for feedback where any parties that have queries can easily be attended to and served. A proper communication system that has been integrated with customer information will help InvenSense to be able to interact with customers instantly thus saving a lot of time and manpower (Cisco Systems, Inc., 1992-2007). Additionally, providing help service options to the customers will also enable customers to have access to the company data and be assisted without necessarily speaking to a customer’s representative.
Since InvenSense deals with a variety of sensor products, having the proper communication will save a lot of time since it serves many customers that includes other huge companies that may have very high demands. Proper communication will ensure that InvenSense understands each customer’s demands and gives the necessary feedback that assures them of the company’s capability. Such a communication system will ensure customer retention that will in turn help the growth and development of the country into a global leader in MEMS.
Analysis of IBM and InvenSense Business Communication and Network Related Systems
Communication in simple terms is when a party, the sender, sends an encoded message to another party, the receiver, who receives it by decoding it. For communication to take place, the sender must have the ability to send the message while the receiver must have the ability to understand it. No business can flourish without communication.
IBM has a deep expertise that has been gained from the deployment of large-scale converged communications solutions and network. This has helped organizations to achieve converged communications solutions that meet the business needs and establishes and platform for growth in the future. The company’s vast knowledge and experience in deploying converged communications solution and networks can assist an organization to reduce implementation costs, save time, and lower the total ownership cost.
InvenSense may experience problems in communication just like any huge company that may be disastrous if not handled properly and lead to massive losses for the company. Since it deals with very sensitive and private information at times, it is important that the means of communication used is very secure and reliable to ensure that the information being sent reaches the intended recipient on time. Therefore, the company needs feedback platform where any parties that have queries can easily be attended to and served. A proper communication system that has been integrated with customer information will help InvenSense to be able to interact with customers instantly thus saving a lot of time and manpower
Conclusion
Communication is probably the most important ingredient needed in the overall success of a business. Transparency, openness and proper channelling of messages from employer to employees, employees to employees and employees to employer will contribute to business sustainability. Hierarchy must be respected when communication systems are being put into place since the senior management gives instructions. Thus, not only does communication ensure the easy flow and effectiveness as well as efficiency of business operations, it also facilitates faster execution of commands and responses.
From the above discussion, it is evident that the IBM Converged Communications Services has provided a portfolio of integration, consulting, deployment, and management services. This has helped in the building of integrated communications and networking environments. This environments help in the reduction of costs by reforming network management support, improves productivity using voice, video and data, and supports a mobile workforce and operations.
On the other hand, InvenSense needs to make a few improvements to both their network systems and communication to ensure that the company’s operations are running to their best. With changes in the business world with new technology coming up each and every day, it is important to move with time and update systems and methods to ensure that the company has a competitive advantage over others in the market.
It is also significant to be updated and aware of new threats to the business that come up with improvements of technology and people that wish to illegally gain from other people’s hard work. These are the key elements that will ensure that such companies such as InvenSense in the IT sector continue to be successful and create more gadgets and tools that make human life easier and interesting.
CMO, B.c., 2007. The Importance of Business Communication Strategy Networking. Bayt, 27 November.
Jia, W. & Zhou, W., 2006. Distributed Network Systems: From Concepts to Implementation. New York: Springer Science and Business Media. Pp.46-113.
Lewis, L., 2006. Managing Business and Communication Strategy Networks: Network and Systems Management. New York: Springer Science and Business Media. Pp. 25-53.
SV, G., 2013. The Importance of Business Communication Strategy Networking. CNN, 28 May.
