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V. Marketing According to the Webster Merriam dictionary, marketing is defined as a “company’s activities associated with buying and selling of “Goods and services”. Through this process goods and services are moved to customers from concept. This process includes, selling, advertising, and delivering products to people. All the employees working in the marketing department
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of companies always try to gain the attention of audiences by using packaging designs, slogans, celebrity endorsements, and general media exposure,
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which is what Tech Revolution, will aim to do. This process consists of the
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coordination of four elements called the 4-P’s of marketing: (1) Product Identification, selection and development (2) Price
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determination (3) To reach the customer’s place selection of a distribution channel (4) Promotional strategy development and implementation Normally
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people believe that marketing is just about advertising or sales. Besides this process, everything a company does to acquire customers and maintain a relationship with them is considered Marketing. Even the small tasks like
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playing golf with a prospective client, writing thank-you letters,
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meeting with a past client for coffee,
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and returning calls promptly can be thought of as marketing. Marketing’s ultimate goal is to match a company’s products and services to the people who need and want them, thereby ensuring profitability.
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Our goal is to exceed these customer relationship standards.
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The basic concept underlying marketing is human needs.
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This includes
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physical needs for food, clothing, safety and warmth, social needs for belonging and affection; individual needs for self-expression and knowledge.Wants are another type of human needs; they are shaped by culture and individual personality. These wants are shaped by a person’s environment and are described in terms of objects that will satisfy needs. These wants
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turns into demands when a person has
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buying power. Given their wants and resources, people demand products with benefits that add up to the most value and satisfaction.
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Our product and service will meet these satisfaction requirements. Outstanding marketing departments pay more attention
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to learn about and understand customers’ needs, wants and demands. Normally they conduct consumer research, surveys and analyze mountains of customer sales and interaction, warranty, and service
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data. Their employees at all levels including top management stay close to customers relationships. For example, Wal-Mart’s top executives spend two days each week visiting stores and mingling with customers. At Disney World, at least once in his or her career, each manager spends a day touring the park in a Mickey, Goofy, Minnie or other character costume. At Procter Gamble, consumer product giant, top executives even visit with ordinary consumers in their homes and on shopping trips to better understand the customer and their desires. After considering the data and charts potentially gathered, it can be better understood the purpose of saving 10 cents on a loaf of bread (with consumers) how the woman is influencing retailers to save 10 cents on a loaf of bread (so she can).
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The
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fast-moving World brings more and more benefits to people and to marketing teams. Internet tools and technology bring benefits to organizations and their employees. It becomes easier to communicate inside the organization, to control working processes and data, and to obtain information efficiently. Nowadays, the innovative technology is inevitable and a necessary tool for both people and organizations.
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How we use them responsibly for business, marketing, and education is important.
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Four-P’s of Marketing Business Marketing is all about how your position can satisfy the market’s needs. There are four critical elements in marketing products and business.
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As earlier mentioned, there
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are the four P’s of Marketing. First is Product – i.e. the right product for the purpose of satisfying customer’s need. Second is Price – i.e. the right product should be offered at the right price. Third is Place – i.e. the right product at right price should be available at the right place.
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Forth is
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Promotion – Informing potential customers about the product availability, its location, and its price. Each of the four P’s is a variable you need tocontrol in creating the marketing mix that will attract customers to company’s business. A company’s marketing mix should be something that companies pay careful attention to because the success of your business can depend on it.
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Our organization intends
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to use these variables to achieve profit potential. Product. This refers to all the goods and in our case (services) offered to the customers. Apart from the physical product itself, there are many other elements associated with product that attracts customers to, such as the way in which it is packaged. Other product attributes include, features, quality, options, warranties, services, and brand name
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and in our case, services. Companies can offer bundles
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of goods and services. Like a product’s appearance, function, and support also make up what the customers are actually buying. Successful executives’pay close attention to the needs of their product bundles addressed towards their customers. Product bundles should be able to meet needs of a particular target market. For example, a luxury product should create just the right image for customers who have everything while other basic products must be positioned for price conscious consumers. Other important aspects include an appropriate product
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design, range, warranties, or a brand name. Key elements
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in building an effective marketing mix is Customer research. Knowledge of your target market and competitors will allow offering a product that willattract the customers and avoid costly mistakes. Price. “Price” refers to how much company charges for product or service. Determining product’s price can be very tricky and sometimes even frightening. Many small business owners feel they must have an absolutely low price so they
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create
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an impression of bargain pricing and this leads to a signal of low quality. An organization’s pricing approach should reflect the appropriate position of product and
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it must cover cost per item plus profit margin. An organization needs to create
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a number of alternative pricing strategies. Selection of a pricing strategy should be based on product, customer demand, competitive environment and the other products
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offered by the company. Whatever price is set by the company ultimately
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must cover costs, contribute to image by communicating the perceived value of product, counter the competition’s offer, and as well avoid deadly price wars. It critical to remember that price is the crucial “P” that generates revenue, while all the other three “P’s” only incur cost. So effective pricing is very important for success of business.
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There are a number of considerations in relation to determining price;
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for example; supply and demand, price setting, discount, cash and credit purchases as well as credit collection. Place. Place is defined as
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distribution, location and methods of getting the product to the customer. This includes the location of business, distributors, shop front, logistics and the potential use of the internet to sell products directly to customers. It refers to the
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distribution channels that a company uses to send the product to customers. The product or service is greatly influenced by how a company is going to
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distribute it. If, for example, a person owns a small retail store
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and they are offering
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a service to local community, then they are at the end of the distribution chain, and they are supplying products directly to the customer. Businesses that are producing, creating or assembling products will have two options: selling products directly to consumers or selling them to
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vendors. Direct Sales. First companies need to decide whether direct supplying
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is appropriate for the product, whether it may be sales through retail, door to-door, e-commerce, and mail order on-site, or some other methods. The main advantage of direct sales is direct contact
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with customers as well as chance of by meeting customers face to face which is what we believe is the best way to market and brand your company successfully, With this contact, organizations easily detect
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market changes that occur and adapt as necessary. Organizations have complete control over product range, how
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product needs to be
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sold, and at what price. It may be a good place to start when the supply of product is limited or seasonal. Reseller Sales. (Sales through an Intermediary). Instead of direct selling, an organization may decide to sell through an intermediary such as a retailer or wholesaler who can resell your product. This act will provide wider distribution than selling direct. Moreover, storage space necessary for inventory can be reduced. Normallywholesalers and retailers have customer connections that would be helpful to
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increase sales. Promotion. Promotion is defined as an
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act of communicating benefits and value of product to customers. It also involves convincing general consumers to become customers of our business using many methods for example direct marketing, advertising, personal selling , sales promotion, brochures, packaging. The
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main
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purpose of promotion is to create awareness between people about what the product is what it can be used for, and why they should buy it. Promotional efforts must contain a clear message addressed to a specific audience
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communicated through an appropriate channel. Target audience is
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the people who use or influence the purchase of product. Promotional message must be consistent with overall marketing image, try to grasp target audience’s attention, and elicit the response you desire, whether it is to purchase the product or to form an opinion. Advertising
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is a key channel in promotion. Advertising methods for promotion of
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product or service include the following. • Radio • Television • Print • Electronic • Word of Mouth
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• Generic So to recap, the four marketing P’s (also known as the marketing mix) are product, pricing, place, and promotion. Additionally, products and services of Tech Revolution are directed on ensuring that all young adults and professionals are aware of the new technology available to them, how to use it correctly, and how to use it to advance personal skills and increase their knowledge in a safe and responsible manner. Our services are effective tools for educating young adults and professionals on how to use technology in the work place as well as at home. The student will have access online, through in call trainings in conference rooms, and workshops at business and educational facilities throughout the Houston area. The
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price of the product/service of the Tech Revolution will be available for customers and attractive in contrast to our competitors. The value of the product/service will be higher for the customer than its price as Tech Revolution’s product is extremely effective at the
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work place and in schools. Tech revolution intends to maximize this entire marketing plan to fulfill the company to customer relationship and advertising potential. Target Demographics Normally
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businesses market their products or services through targeted approaches to different segments of the population. Demographics are known as the statistical component of marketing that is used to identify population segments by specific characteristics.
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Demographics affect all choices of business owners in developing a marketing plan.
So here
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our primary target demographics are children, young adults and professionals. We currently focus on the Houston Area but have long term plans to expand statewide. We make our services available to all ages, races, backgrounds, and are flexible in cost for those in need since we believe in the outcome of what we can provide over the profit.
Our demographics will help us to avoid costly mistakes in marketing plan. SWOT SWOT
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analysis is a critical part of marketing plan
and it stands for strength, weakness, opportunities and threats. It should cover the whole company and scrunch down into details of each business segment and product. Strengths Weaknesses Internal Factor • High quality, effectiveness, and available price of product • Market friendly packaging • Excellent Customer Services • Real necessity of such programs • Relatively lower price comparison • Highly qualified, passionate, and customer friendly staff • Ability to market the Brand • Low production cost through use of advanced technology • Environmentally friendly products •
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Adopt new principles and technologies faster than competitors • Program directed on social welfare • Growing market share • The lack of high paying jobs • Low ability to pay for training of target customers • Lack of authority of training and the organizations • Lack of funds to expand the program • Lack of skilled staff • Lack of access to skilled labor • Limited resources • Poor business location Opportunities Threats External Factors • Continuing changes in technology, lifestyle, and social patterns – continuing development and growth of the organization • Growing market share • Growing demand of product/service • Growing product market to other countries • Aggressive competitors’ incentives • Any crash or long pause in technology • Migration of skilled workforce • The risk of a “workplace funk” in case of the lack of motivation of employees • Students’ habit to cheat and not to concentrate • The lack of budget of our clients to pay for courses • Economic downturns • Price Wars • Rapid technological change The influence on the behavior of the customer may be from areas such as perception, cognition, affect, beliefs, social factors, and others. Various customers’ groups usually have different views and decisions about the necessary purchase. Young adults and professionals are the prime target for Tech Revolution. We currently focus on the Houston area with short term goals to expand statewide and long term goals to service nationwide. In addition, we are the group that gets under the influence of social networking and bookmarking sites the most. We make our services available to all ages, races, backgrounds, and are flexible in cost for those in need since we believe in the outcome of what we can provide over the profit. Thus, the product/service and the process of theeducation must be attractive, interesting, available and for a reasonable price. The target customer is the young and educated specialists who desireimprovement to his or her technical knowledge and to gain new skills on the proper use of new technology and tools in the work place. The price should be reasonable and available for young specialists (low). The content of the learning process must be interesting, informative, interactive and useful. The inflation rate, level of median income, employment rate, and rate of exchange – everything has an effect on the company. Finally, the change of technology and its constant innovation helps the given company to enhance communication and explore new opportunities to exchange data, connect people and give their costumers more advantages of life, we intend to enhance that through our educational trainings.
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Competitive Analysis A competitive analysis is considered a critical part of a marketing plan. So a business should evaluate competitors by placing them in strategic groups according to how directly they compete for a share of the customer’s dollar. For each competitor needs to list its product or service, its growth pattern, profitability, marketing objectives and assumptions, organizational and cost structure, current and past strategies, strengths and weaknesses, and size (in sales) of the competitor’s business.
Here are some of the questions Tech Revolution will while analyzing their competitors: Who is the competitor?
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What products or services are they selling? What is its market share? What are its past strategies? What are its current strategies? What type of media is used
for the purpose of marketing the products or services? What are its
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strengths and weaknesses? What potential threats does a competitor pose? What potential opportunities do they make available for you?
The main reason to make the competition analysis is the need to understand what competitive advantage should be. The
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competitive advantage is the factor that illustrates the position of a company in contrast to its competitors. Tech Revolution should produce the separated and unique product
and have well-known but better services than currently exist. Tech Revolution’s main competitor is the Internet. Through thorough research, our marketing team has not been able to find one company local to the Houston area that provides the same specialized services and delivery as Tech Revolution, giving us the competitive edge in the area. Additionally, the obsession with the Internet has become an obvious fact for the past several decades. It may be easier to find information in the Internet for free rather than pay for courses to get this information. Hence, Internet is well-known, fast, free, and a skilled searching tool in almost every field. The point is that the information taken from the Internet not always reliable and true. In contrast to Tech Revolution, it does not have an individual method of studying. Further still, asking the Internet is harder than ask a teacher or an instructor. The personal based method of our courses offers the client a unique, reliable and useful way to study. Promotion Promotions are
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used to spread the word about product or service to customers, stakeholders, other broader public, and
to draw in prospective clients. There are thousands of different promotional methods that are available.
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Most businesses use a mix of advertising, referrals; personal selling, sales promotion and public relations to promote products or services.
Promotions
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should be attractive and wide (outlets, logo, billboards) as the main audience are teenagers who perceive the advertisement when it is attractive and bright. The main purpose of the advertising is to identify an aim, target, type of media, main competitors. The advertising should catch the eye of prime targets, interest them, create a desire to know more, and act, finally. Obviously, the most appropriate promotion strategy is internet marketing. The usage of e-commerce sites will only benefit the given company. Internet gives many opportunities and advantages. As our prime customers are dependent on the Internet or use it often, Tech Revolution gives a continuing and online advertisement, online consultations, orders and other benefits.Promotions and sales through online sources, media, videos, and banners will benefit the organization and make it profitable in short-term.
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Advertising Advertising is defined as a form of communication designed to persuade potential consumers to choose our product or service
rather than competitor. The main purpose of advertisement is to keep our product name in the minds of people and make them aware of its benefits. Our objectives are: • Make our product and business
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name familiar to the public • Create goodwill and build a positive image • Inform and Educate the public • Offer specific services or products • Attractmore customers to find out more about the product or service Following are the
main media options for advertising: • Stationary • Windows Display or Front Office • Press Advertising • Internet • Television • Radio • Newspapers • Magazines • Direct Mail • Out door • Ambient • Cinema • Point of Sale • Online • Directory Listing Tech Revolution’s product/service is not as seasoned
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in the market as the education of using technology at work place is always necessary and required. According to our
researching of the competitors’ promotions and methods of advertising Tech Revolution will renew, add or correct their promotional activity as necessary.
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It is obvious that Mass Media extremely influences people of all ages. It enters people’s minds, and thoughts, thrusting upon their opinions, striving tostrangle people’s own thinking, showing the “right” (as they think) way of living, eating, voting etc…. However, its influence is not only bad, but also good, when media informs a human making his life simpler. TV news informs about weather, news in the world, TV shows advise useful things and movies on real events, telling the experiences of other people. Nevertheless, in our opinion, every influence that damages and corrects people’s own thoughts is negative because each of us has the right of liberty, and
our own thoughts and words. For this reason, our advertisement will not be aggressive. It will suggest and promote, not demand the use of our services. The advertisements
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of our organization will appear through the social networking services (for example, QR Codes on Facebook) and global searching tools (for example, Google Ad Words). The advertising will be focused on the Internet as our target uses it very actively. The advertisements can be placed in entertainment areas (cinema) and commercial areas (sales, stores). IX. Technical Etiquette According to the generic rules of technical etiquette, the customer must know when to use the technology and when to use traditional tools, and what are characteristics and functions of the technology or tool. An employee should limit the use of personal mobile or electronic devices at the work place as it decreases the effectiveness, productivity, etiquette and accuracy of the work. Furthermore, we believe that an employee should learn how to correctly use email as a tool of communication, since this is the most common tool. This can help with cooperating and solving problems as a team as well as it is a good practice for documenting all communications finally, an employee should know the difference between an appropriate and an inappropriate type / use of the technology or tool and how to use them properly and carefully. Understanding how to work with technology effectively in this sector usually comes from to good decision making, thorough support withaccurate information and overall well-oiled success of the company.
Technical etiquette can also be referred to as netiquette that is etiquette involving
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the internet. Good netiquette involves respecting others’ privacy and not doing anything online that will annoy or frustrate other people. Three areas where good netiquette is highly stressed are e-mail, online chat, and newsgroups. For example, people that spam other users with unwanted e-mails or flood them with messages have very bad netiquette. No one wants to be one of those people. If a person is new to a newsgroup or online chat room, it may help to observe how people communicate with each other before jumping in.
Technical etiquette also has to do with giving credit to other people’s work, for example plagiarizing is not good technical etiquette. With our business we will show people how to avoid all those bad internet habits and how to develop good technical or internet etiquette, we believe that this is one of the most important aspect in learning in today’s society.
