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BUS305 Small Business Management

Published : 07-Sep,2021  |  Views : 10

Question:

The purpose of this assignment is to assess marketing concepts and situations from an entrepreneurial manager's point of view. Concepts and relationships are discussed with a special focus on aligning one's ethics and values with their business actions and understanding the unique differences in marketing strategy planning for domestic business versus business abroad.

Answer:

Introduction

This paper evaluates the marketing plan and strategies of Digitech Solutions. DigiTech solutions firm is a technology company whose aim is to provide IT solutions to corporate clients in the United States and abroad. The company specializes in web design, creating security programs for businesses, cloud computing, designing web applications, mobile applications, and offering IT consultancy services (Woodall, 2007). This paper provides a brief analysis of the companies` marketing plan with the vision mission of the company being well aligned to the day to day activities of the organization.

Mission

DigiTech solutions offer its customers unique and high performing products and outstanding services that are focused to achieve the specific needs of the customer. DigiTech focuses on providing IT solutions to its customers and it is dedicated to research and development to ensure that the company develops mobile applications that are easy to use and at a very low cost. The company is committed to offering its customers latest and new technological solutions that help to meet their specific business needs and that help them to achieve efficiency in their organizations. DigiTech values hard work and commitment of its workers and it offers its employees a good working environment to help them perform optimally.

Vision

The vision of DigiTech is to become the leading IT solutions and consultancy company in the USA and regionally. This will be achieved through dedication to exceeding the expectations of consumers and offering them highly competitive products and services.

Core Values of DigiTech

Integrity

Competence

Honesty

Respect

Innovation

Leadership

Excellence

The core values of the company stated above are aligned by my personal image when designing strategies, negotiating contracts and leading employees by ensuring that I live a principled life that is governed by principles. I always ensure that the urge of making more profits does not make me disregard values such as honesty. Ensuring honest relationship with clients and employees helps to inspire confidence in them. Becoming the focal point of the company’s innovation by designing new products for the company will help to align the value of innovation with my everyday life. Respect for all people and especially employees as well as offering exceptional leadership in times of crisis will help to enforce these values in the organization (Shankararaman, Kar, Gupta, Deshmukh&Thonse, 2016).

Market segmentation is one of the components of a marketing plan that is important for DigiTech Solutions. This will help in segmenting the local and regional market into segments which makes it easier to market the company. This will also help in target marketing.

Budget aspect of a business plan is also very crucial for DigiTech. The company needs to identify the costs of implementing the marketing plan both here at home and abroad. This will ensure all the resources required are prepared on time and sources of additional funds identified.

The concept of market segmentation helps to align the organizational value with my values by emphasizing on excellence in marketing and in understanding the consumer needs. Market segmentation ensures that the company is able to reach customers in different segments and meet their needs.

The concept of budget in the marketing plan aligns my personal values with those of the organization by ensuring that there is competence when estimating the budget requirements to implement the marketing plan. The integrity of the budget making process is also maintained.

Marketing plays a very big role in coordinating the distribution function and the advertising function. The distribution departments is charged with ensuring that the services and products of the company move swiftly from the company to the end consumer. The department ensures that products are available at the right time, in the right quantities and at the right place. The advertising department plays the role of creating awareness to the consumer to create demand for the companies` products. The marketing function ensures that this departments work hard in hard to achieve the goals of the organization.

Culture impacts on the consumption of the company’s products domestically because It determines the behavior of consumers. However the effect of culture on marketing in USA is not so big since the company understands the culture of the consumers and will target the consumers while understanding their culture. The culture of consumers will have a larger impact in the operations outside the country since the company does not have a deep understanding of the consumers’ culture, economic environment and the legal systems in these countries.

The company should appoint a regional manager to oversee the operations of the company in other countries and to ensure that they are in line with the overall objectives of the company at home. The manager of the outside operations will report directly to the CEO of DigiTech.

The industry is experiencing an increase in demand of social media applications that are innovative and therefore, this presents an opportunity for the company to invest. Cloud computing is another emerging trend in this industry together with platform architecture (Brandt& Springer Fachmedien Wiesbaden, 2016)

Conclusion

The marketing plan has briefly stated the vision and mission of DigiTech solutions and identified its core values. The paper also discusses how the personal values can be aligned with organizational values to help the organization function according to its core values and achieve its objectives. The report also identifies key concepts of marketing plan that are relevant for the success of DigiTech. Finally, the paper discusses how the external environment may affect the operations of the company abroad and at home.

References

Brandt, T., & Springer Fachmedien Wiesbaden GmbH. (2016).IT Solutions for the Smart Grid: Theory, Application, and Economic Assessment.

Shankararaman, V., Kar, W. T., Gupta, M., Deshmukh, N., &Thonse, S. (2016). Aligning IT solutions with business processes: A methodological approach. Singapore: Pearson Education South Asia Pte Ltd.

Woodall, T. (2007).New marketing, improved marketing, apocryphal marketing.European Journal Of Marketing, 41(11/12), 1284-1296. http://dx.doi.org/10.1108/03090560710821170

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