Analyzng a Marketing Plan

Marketing Plan Current Marketing Situation Product The personal computer (PC) is designed to increase convenience of computing aspects employed by consumers. In particular, this product is purposed to enable the consumer to undertake several functional and computing services through one device. IBM, the producer of the personal computer, is acknowledged as one of the key trailblazers in the technology industry. In particular, the company is one of the original founders and advancers of the personal computer versions that we perceive and use in the present day.

PC manufactured by IBM facilitates not just the individual consumer at home, but also organizations as a whole in their business operations. The benefit of this product is that it enhances the convergence of technology being used within an organization. For instance, the computer works in tandem with other technologies, such as the internet, different software and cloud-based services. This is a user-friendly device that is purposed to increase the level of convenience for end users.

In addition, the advancements over the years of the product have increased the level of consumer satisfaction. The product has prevailed in several industries as they have benefited from faster data processing. For instance, the companies are able to enter data and information regarding their consumers. Case and point, organizations in the healthcare industry are able to keep patient information in computers rather than papers. In addition, this facilitates effectiveness within the organization. The purpose of this paper is to discuss a marketing plan for the product.

Market Segmentation Segmentation and target market analysis is another research strategy that will be employed by the company. It is imperative for the company to seek out its target consumer market as it increases the efficacy and productivity of the business. Segmentation of the market encompasses aligning the different consumers of the company into segments or groups that have common interests and needs, in addition to having the same reactions to actions in the market. This includes segmenting the consumers demographically, geographically, psychographically and also behaviorally.

In reality, the characteristics and needs of the potential groups of consumers incorporates convenience in use of numerous different functionalities. This is based on increasing consumer satisfaction and practicality in the delivery of services. There are different segments of consumers that are linked to this product offering. The product is targeted to not only individuals, but also corporations.

For individual consumers, the product will enable the convenience in use of different functionalities within the house, such as watching movies and also being able to have an effective work space at the home. On the other hand, with regard to companies, the product is targeted for different industries. For instance, for the business sector, the end-users will be able to have convenience and expediency in presentations. Moreover, for the hospitality sector, the end-users will be able to increase data entry and management for patients.

Competition The competitive situation in this case is that the market is a perfect competition market. This is because there are several buyers and sellers, and therefore, the actions of one individual cannot have a considerable impact on the market price. This is because, in as much as the product offering is distinctive, there is the possibility of having several sellers in relation to the whole market. The level of competition in the tech industry is very strong, not only on a nationwide level, but also on a global scale.

The competition more so is about to increase and become more intense with the incessant advancement in technology. However, it is imperative to note that IBM Corporation has a competitive advantage, as it is one of the pioneers and innovators of the computer, and therefore, have great expertise and know-how with regard to these products. The constant upgrade and advancement of this product offering will all the more increase the convenience of services offered by the company, boosting its chances against its rivals in the marketplace.

IBM faces intense competition from Apple Inc., Hewlett-Packard and Intel as well. The following analysis indicates some of the key reasons why these companies offer intense competition to the company. 1. Apple Apple designs Macs, which are ranked highest in the global PC market, in conjunction with OS X, iLife, iWork and professional software. Apple brings forth a great deal of competition and this can be seen by the constant innovation of products almost every year. The company has also involved itself with iCloud, which is yet another innovative product (Zylla-Woellner, 2010).

Apple has been declared as the most innovative firm in the whole world. It is known internationally for its diverse range of products. 2. Hewlett-Packard Hewlett-Packard Company (HP) is one of the biggest information and technology (IT) corporations in the world. Hewlett-Packard Company is centered on the information systems industry and is a technology organization that specializes in storage computing, hardware, software as well as network services. HP is well renowned for providing technological solutions to individual consumers, businesses as well as all sorts of entities across the globe.

HP competes with IBM in providing CPUs, printers, lasers and other products as well. 3. Intel Intel offers intense competition to IBM as it produces laptops, desktops, and servers. At the onset of this century, Intel Corporation unveiled the Pentium 4 processor and in sequence concentrated on wireless computing with Local Area Network (LAN) PC cards for Intel Pro/Wireless (Intel, 2012). In addition, the company is considered to be one of the major pioneers and forerunners in the invention and innovation of technology.

SWOT Analysis The company will utilize numerous marketing strategies to not only gain an understanding of its situational analysis, but also its business setting and the appropriate market approaches. One of these research strategies is SWOT Analysis. SWOT Analysis is a useful and cost-effective tactic employed for finding out and establishing an organization's strengths in connection with its strong points and weaknesses in connection with weaknesses and faults.

The method is also accommodating in defining both the opportunities open to the business and the threats that the business is susceptible to (Ferrell and Hartline, 2014). The following section will discuss the strengths, weaknesses, opportunities and threats being experienced by IBM. Strengths 1. Renowned Products The consumers and competitors in the tech industry know IBM for quality, reliability and consistent products and services. By having quality products, IBM has been able to sustain a steady and dedicated customer base.

In addition, these renowned products enable the company to appeal to new consumers in the market place. 2. Brand Name Over the years, IBM has built a brand name for itself in the creation of technological devices. Due to the appreciation of the brand, consumers are always eager to try the new product offerings unveiled by the company. 3. Technological Expertise One other strength of the company lies in its extensive expertise in the technological sector. Such proficiency has enabled the company to produce reliable products.

It is imperative to note that IBM is one of the first companies to build computers. Therefore, with regard to this product line, the company has extensive know-how and is considered a pioneer. 4. All-encompassing Field Knowledge of Electronics Industry From the creation of printing systems, toners and disks, IBM has extensive knowledge in the electronics industry, which gives it a strong position in the market. The consumers will consider the company to have the capacity to produce just the exact products they need. 5.

Diversity Another strength that the company holds is that it has a competitive strong suit in terms of diversity and variety in products that are offered to the consumer, that is, printing products, software services, cloud products and servers 6. Distribution Control One of the strong suits that the company has is that it has a strong control over its distribution channel. With any new product line, the company is able to make certain that its products get to the right consumers.

The company is able to retail its products comprehensively, not only locally, but also internationally. This is perceived by the competence in maintaining its supply chain and distribution channels. Weaknesses 1. Intense Competition One of the weaknesses is the intense competition that the company stands to face in the market place. There are already established brands, such as Apple and Microsoft that have already become household names. 2.

Inherent Features can be Copied The disadvantage of this product offering is that other rival companies can effortlessly copy its features and tweak them a bit. This in turn demotes the competitive advantage accomplished by the organization. Opportunities 1. Social Media Social media serves as an opportunity for IBM to make the most of its name to attain new consumers and grow its brand.

Through social media, the company is able to reach an extensive range of consumers and also interact with them on a personal and cohort basis to understand their preferences and needs. 2. Use of New Offering with Other Company Products While retailing the personal computer (PC) as a product, the company has the prospect of marketing and promoting its other products in the market with the main purpose of increasing its retail sales.

For instance, the company is able to retail to organizations, for the opportunity to provide other products such as printers, servers, software and the others. Threats 1. Consumer Preference One other threat is that consumers might have a preference to purchase products with their own corresponding devices for warranty purposes. For instance, if the company has Apple computers, it will have to use software from Apple and also obtain other products from the company. 2.

Raw Material Price The company also faces the threat of the increase and rise in the price of raw materials. This will increase the total cost of the company's production, which might preclude the capacity of IBM to succeed in the venture. For instance, the price for raw materials to create chips can adversely impact the company's success in manufacturing this product. 3. Advancement in Technology One of the key threats that IBM faces is the constant advancement in technology.

Being in the tech industry, the company faces the threat of its products becoming obsolete due to the new technology that is incessantly being introduced to the market and unveiled to the consumers. Marketing Objectives The objectives outline the goals and aims that the company purposes to attain by the end of a certain period, not only in the short-term, but also in the long-run. The following are the objectives of IBM: 1. The company aims at increasing the number of sales in the following fiscal year.

In particular, the company aims to have 25% increase in its sales volume in the coming financial year and an additional 5%, in the following two years. 2. The company also aims to increase its market share in the industry. In the contemporary, the company boasts of having a 29.1% market share in the industry. The objective of the company is to increase this to 35% in the next two financial years. 3. Lastly, the company purposes to increase the profit generated by about 20% in the following financial year.

Through the increase in retail sales and being cost effective, this is by all means achievable by the company. 4 Ps of Marketing The marketing mix is a business research method that is employed in marketing products or services produced and retailed by a company. This specific method is important as it helps in ascertaining the unique retailing point of a commodity or product. The marketing mix method is made up of four dissimilar constituents or strategies and these consist of product, promotion, price and place strategies (Lamb et al., 2012).

The following section will analyze the marketing mix of IBM with reference to its main product being discussed, which is the personal computer (PC). Products Product strategies have a substantial role to play with reference to the marketing mix. This is because it is the product package being offered by the company, which shows how distinctive or well-suited it is for the consumers, compared with other products offered by other competitors.

This particular product offering markets not just more effectiveness for an individual, but also increases the ease of work with regard to convenience for businesses and organizations as a whole. The indiscernible intrinsic worth of this product offering is its ability to meet or go beyond consumer points-of-view reliably. On the other hand, the shortcoming to this is that other businesses can basically replicate these qualities. Still, being the main business to embark on, this will augment the competitive edge of IBM (Kotler et al., 2009).

Promotion These strategies are considered to be fundamental for the corporation in making sure that its brand is well acknowledged by the general public and also as a way of enticing new customers. IBM makes use of several diverse promotional strategies with the purpose of succeeding in the market and industry. Owing to the advancement in technology, the company employs social media to promote its products.

The company makes use of social media platforms such as Facebook, Twitter, Instagram, and Google +, in addition to its website to promote the products that it plans on rendering for the target.