Product strategy- For the new web based company it is been seen as a service center which deals with providing web based services to the different clients depending on the needs and requirement of the target segment group. Pricing Strategy- Initially since the new web based company is in its introduction stages, the pricing will be at affordable rates in order to encourage the business clients to avail their services at being able to follow the strategy of price competitiveness.
Place Strategy- Since this company deals with the non store kind of the retail format, cyberspace is what they need to buy at its initial stages which imply that the new web based company markets and promotes its products and services on an online mode. The company is also at a disadvantage with reference to the strategies it follows since it is a non store kind of a format and hence the important task is to be very careful in designing the web site which creates an impression for the end users.
Promotion Strategy- The will have to market on the business magazines, business news channels, national newspapers etc…If need arises it can promote the local customers. But the main aim of the firm should be to find out which companies they need to target and cash on depending on which they would promote the business. Catalog marketing and kiosks are also very important and reliable in this case of creating publicity.
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Budget- The total budget that is allocated is $ 55000 as of now, out of which $5000 will be kept aside for their web development and around $50000 were kept for sponsorships and advertising and some sort of marketing campaign for the awareness of this new web based company. The following budget is been prepared as of now as a start to the whole marketing effort and depending on the requirements further budget will be allocated. Implementation/Action Plans:
Since this company is new in the arena of web designing companies, care should be taken with reference to the implementation and the action plans and programs that will be associated with the schedule of events. This is because the impression and the test marketing which the company will undertake should have effect on the overall awareness creation. The various sponsors also will be highlighted the features and the milestones of this firm to ascertain their chances of further success. Depending on the above three months response in the market, the management will think of extending the same with a few variations in the future.
In their marketing campaign, the new web based campaign will highlight the best projects they had undertaken and completed so that the recognition and brand image has been created. Evaluation and Control: This is a very crucial step in order to maintain a balance between the actual and the expected performance of the organization. The firm might go in for strategic control technique to check if the organization’s goals and objectives have been met so that the long term perspectives of the firm have been taken into significant consideration.
Along with the strategic control profitability control mechanism also will be beneficial for the firm to adopt in order to develop an understanding in the area of profits and the margin that it would attain in the process of designing a web based application for various clients. Periodically audit check will have to be carried out by the firm to meet up to the goals and the objectives and to analyze on the lacuna or loopholes that exists in the process of development.
Conclusion: Taking in consideration all the above points with reference to the macro and micro environmental factors, identification of the goals and the objectives, understanding of the target market and the segmentation method in addition to the marketing plan which includes the various marketing strategies that have been developed by the company indicate a sense of planning and strategic formulation of ideas and concepts which are an essential requirements of any organization
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