1. INTRODUCTION
Development of any online marketing strategy is important for all business. Within the lack of a good marketing strategy the whole effort to attract the customer is likely to be incompetent and inefficient. The main focus to be given on your strategy, making sure that the merchandise and services meet the customer expectations so it can form a long enduring and profitable romantic relationship with those customers. Strategy is a permanent phenomenon, it can be a management strategy or it may be Online marketing strategy. It points out achievement of aim in its field. It tackles the resources so that, the resources are ideal utilized. If the management is thinking about a new product/service or a new market, the online marketing strategy should be developed. Strategic planning will be related to its main organizational objective
1. 1. Objective
In this task we are examining IBM online marketing strategy based on online marketing strategy theory. Marketing theory is based on the following
* Influence and importance of information in business marketing function in strategic and tactical process
* Integration of organizational marketing decision making with strategy.
* marketing strategy is related to their overall organizational strategy
* Bottom part of marketing knowledge and the strategic implications
* Analysis of e-business strategies embraced in marketing
All these theory will be mentioned in relation to IBM market strategy
1. 2. Background of the study
In the management theory, the term proper management denotes to commercial strategy or business strategy. Cooperate strategy means strategy at the business level in a multi-business company and business strategy means strategy at the business unit level in a multi-business company. When considering the marketing theory market strategy and tactical marketing are used interchangeably in mention of the field of study. Marketing strategy is a way of analyzing the business resources and energies to determine maximum use in a better way to accomplish the aim of the organization. As mentioned earlier this assignment is based on IBM. IBM is the short form of International business Machine cooperation. This is a multinational entity located in United States. It is a multinational entity disperse across on the planet. Its main activity includes manufacturing and selling software applications and hardware, infrastructure service, hosting/Server hosting and consulting services.
2. LITERATURE REVIEW
According to North american Marketing Connection (AMA) "Marketing is the experience, set of institutions, and operations for creating, interacting, delivering, and exchanging offerings which have value for customers, clients, associates, and society at large. " (Varadarajan, 2009). Another important description from Jain, According to him, marketing strategy can be defined as the technique of achieving the marketing aim. (Jain, 1999) Online marketing strategy has contradictory tips and views from different authors. In some sources, the marketing behaviors of organizations in the region of the 4Ps, i. e. , product, campaign, price and place/circulation, are characterized as marketing strategy. In a few another sources it is considered as behaviors regarding segmentation, target market selection and positioning
2. 1. Marketing Combine and Marketing Strategy
2. 1. 1 Product Strategy
Product Strategy is one of the extremely vital aspects of a business. It must consider the capacities in conditions of anatomist, of production, of distribution (sales) prevailing in the company and the future requirements. It must analysis the consumers' requirements during delivery. It must foresee the competition (including market penetration) and possible practices to go into the same market. Technology is another aspect which influences the production strategy. Based on these factors the management should make greatest strategic planning the organization (Product strategy, 2007)
2. 1. 2. Prices strategy
One of the areas of the marketing strategy is price. It referred to as an important tactical issue because it is connected to product placement and targeting. Aside to this, costing influents other proper marketing mix elements such as product strategy, distribution strategy, and promotion strategy. Since there is no single method to finalize charges, the there are several aspects which effect the pricing. Demands, cost and market completion are a few of this
2. 1. 3. Promotion strategy
Promotion means circulate information in regards to a product or product line, brand or company. Campaign is mainly labeled into two Above the series promotion and below the lines advertising: Advertise in the advertising (e. g. Tv set, radio, newspapers, Internet and Mobile Phones) known as above the series promotion. All the type of special offers includes in other category E. g. sponsorship, personal advertising, public relations, endorsements, sales campaign, etc
2. 1. 4. Place strategy
Place strategy stands for channel, or circulation, . It is the way where goods and/or services are transferred from the supplier/ service providers place to the end customer.
2. 2. Market Targeting
Organizations are willing to enter a particular market area to produce its own domination in the competitors. This specific market is or customer group is recognized as segments. Based on organizational situations the management will choose this segment, where in fact the company has to play. The important decision in online marketing strategy is selecting the section is recognized as market targeting,
Market Targeting focus on the following
1. Ascertaining particular customer demand. Product/service requirement
2. Regarding to customer necessity the targeted customers are grouped in to segments
3. Define each group or segments
4. Deciding the market section to serve
2. 3. Market positioning
Creating image or good picture in the heads of concentrate on customers known as Market positioning. This is actually the loyalty and customer satisfaction towards the merchandise or service which affects the buying decision of the mark customers. To be able to create the understanding about the merchandise or service advertisement is the one important factor. Client satisfaction will a certain extend for creation good mentality towards the product.
2. 4. IBM Strategy
According to IBM, The Company's organization model is established to aid two main goals:
- "In helping customers flourish in providing business value by changing more innovative, reliable, competent and competitive through business ideas and it (IT) solutions"
- "Providing enduring value to stakeholders. The business model has been built as time passes by means of strategic investment funds in potentiality and systems that provides the long-term balance, growth and success. This goal will be based on customer value deliver available. "The company's strategy is to give attention to the high-growth, high-value segments of the IT industry".
The companies have presence in global market and its capacities include service hardware, software, server, fundamental research and support. The company clients have been catered by the assistance of these put together business capabilities. This gives a good client satisfaction in all area.
The IBM's business design is very adaptable, and gives range for regular alteration and rebalancing. The business has good commoditizing opportunities like personal computers and hard disk drives, which give durability to its position in the global market through proper investments and acquisitions in rising higher value sections like service oriented architecture (SOA) and Home elevators Demand. In above compared to that, the business has improved itself into a globally integrated organization which includes enhanced overall output and is energetic investment and contribution in the world's most effective growing markets. Over the years because of this, the business became a highly performing firm.
The business strategy is based on the business's long-term organizational aim, backed by the company's long-term financial composition, enables IBM to deliver time upon time higher profits, cash flows and results on invested capital for stake holders even in changing financial environments.
2. 5. Information is very important to organization perspective. How much it adding to proper and tactical planning
Information is important for every business. A lot of the organization have independent section for information collection and examine. Marketing has also required the inner as well as external information, which contribute to their tactical and tactical process.
IT shows the impact of marketing information in organizing the online marketing strategy. The machine would perform to synthesize information from many areas and transform directly into usable form to help mangers who straight participate in decision making process. These details is necessary and will useful in tactical as well as tactical level of decision making. Like a online marketing strategy IBM started listening from customers. They accumulated information from market and altered this data directly into usable research agenda. They trying to ascertain the customer needs and prepared based on the marketing pulse. IBM is a key player in the IT world. Everyone knows the capability of the business. Because they are participating in overall in the global market, they are receiving feedback from all around the globe. This they'll transform in to valuable design and will serve the client accordingly. Many time IBM have stepped, where other people are not inserted.
2. 6. Analysis online marketing strategy vs. organization strategy
As discussed before strategic decision is long-term in character. On strategic decisions repairing level, all management decisions, especially marketing decisions are essentially guided by the business strategy. All Marketing planning and decisions are directly or indirectly linked to get rid of customers. When building a company strategy, the high level management team will consider the primary aim and its own connection with the finish consumer. Company's value propositions with their product and service customers and the financial accountability and their value propositions. (Galavan, Murray, & Markides, 2008). Strategy hails from objective and planning. Strategic planning relates to overall opportunity and entire part of the
2. 7. Analysis based on IBM Strategy
The IBMs organizational communication strategy says "fostering development and business agility by causing people easier to find reach and collaborate by way of a unified marketing communications experience. IBM afford them the ability this challenge by giving an open and extensible software program other technology".
2. 8. Market planning considering the Global context
Marketing strategy is aimed at target market and market positioning. The targeted market can be big as well as small. Market strategy will be created based mostly on how the target market and how they are described. Mass marketing denotes to marketing the merchandise and service in the whole market. If the business plays in the global market which is a multinational company, the strategy will likewise have an impact of global framework. (Beamish & Ashford, 2007)
In the existing business world the merchandise and services for organizational clients and other one consumers are via different overseas countries. This trend, i. e. delivery of service and products from different marketplaces, is happening due to the process of international marketing. All businesses are going to be competitive and competitive now as well as in the future; they must stabilize in these global marketplaces. Getting a stabilized position in the international market segments is a task for any firm. The process and strategies of marketing in the international markets as well as domestic market are extremely important to create the market portion. It is crucial that we familiarize this situation and also ascertain the opportunities that suited and creative for the marketing strategies that can present in the required atmosphere
IBM has business in almost all of the international. Their one strength and importance is that they are global service group. When coming up with a marketing strategy for IBM, it is inescapable to make a plan which considering all international market that means global market.
2. 9. E-business strategies in marketing - Representation and evaluation
E-business strategy is defined as "the approach by which the applications of inside electric communication can support and influence corporate and business strategy". (Chaffey, 2007) That is a way of embracing of e - stations by organization for a few products and service or markets to best generate value for the business according to the company importance. E business strategy defines how an organization accomplishes the worthiness internally from checking out electronic network. Now all business businesses are thinking about an e-business strategy for its own need. The root cause for this is due to non- success of some opportunities and from lack of dimension of opportunities or inadequate resourcing of e-business initiatives. These will bring about to more savvy organizational rivals achieving a competitive benefit over the business enterprise.
IBM e-business strategy in marketing
№ IBM always will try to recognize the financial part of e-business and which helps the business firm to find the various e-business strategy marketing opportunities by studying their net value result.
№ Checking the requirement for change and making performance measurement for the e-business and creating new ideas for the future.
3. CONCLUSION
IBM is an corporation which always provides importance to its clients. IBM helps its clients to success available world by delivering innovative it ideas and alternatives. For this purpose IBM evolves competitive organizational and online marketing strategy. For the organizational strategy process IBM as well as all other organization relies on information. Marketing strategy is important and it advances predicated on organizational strategy. Now the world becomes one and the boundary theory for the market is lost. So that it is important that the online marketing strategy should be developed predicated on global context. It's important that the marketing aspects need to be finalized also considering e-business strategies and channels
4. REFERENCE
1. Beamish, K. , & Ashford, R. (2007). Marketing planning 2007-2008. Elsevier.
2. Chaffey, D. (2007). E-business and e-commerce management: strategy, implementation and practice. Pearson Education.
3. Galavan, R. , Murray, J. , & Markides, C. (2008). Strategy, invention, and change: problems for management. Oxford University Press US.
4. Jain, A. K. (1999). Marketing info products and services. IDRC.
5. MarketingNews. (2008). AMA adopts new meaning of marketing Marketing News. Marketing Reports.
6. Product strategy. (2007). Retrieved from www. feb-patrimoine. com: http://www. feb-patrimoine. com/english/corporate/product_strategy. htm
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8. Varadarajan, R. (2009). Proper marketing and marketing strategy: domain, meaning, fundamental issues and foundational premises. Journal of the Academy of Marketing Science
