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¶ … InfoGlide
The transmigration of InfoGlide is commonplace for high technology companies that often face uncertainty, rapidly shifting market priorities and market requirements, and the potential to compete in significantly larger and faster growing markets. The transition from criminal activity analysis to insurance fraud positioned InfoGlide in a larger, more lucrative market and immediately differentiated their competitive position relative to many others in the industry. As the case indicates, these factors taken together led to the company growing to 38 employees and a worth of $100M. The intent of this analysis is to evaluate how InfoGlide successfully transmigrated from their initial focus on law enforcement to insurance fraud, with specific focus on product, price, promotion and distribution or place strategies. Additional markets that InfoGlide could be sold into are also provided. The transmigration process also has significant implications for Microsoft as well, which is also provided in this analysis.
Modifications to InfoGlide's Marketing Plan
Pivoting from law enforcement to insurance fraud required David Wheeler and the management team at InfoGlide to completely redefine every aspect of their marketing mix, including the unique value proposition (UVP) of their software application. The UVP has a galvanizing effect across every element of the marketing...
The product strategy had to be modified or adjusted to the specific needs of the insurance investigators, with careful attention to the user experience and the flexibility the application provides in terms of customization. The product dimension of high technology products needs to be capable of personalization and customization to a specific audiences' unique needs (Gardner, Johnson, Lee, Wilkinson, 2000). The product or in the case of InfoGlide, the software application, would also need to include the specific workflows and processes that insurance fraud investigators and auditors rely on.
The promotional strategy will need to be completely modified to reflect the key buying decision criteria of insurance fraud specialists over law enforcement. This shift in promotional strategy also needs to include a persona-based approach to understanding the many variations in how insurance companies will use the suite of applications as well (Gardner, Johnson, Lee, Wilkinson, 2000). Promotions to get insurance companies to…
The promotional strategy will need to be completely modified to reflect the key buying decision criteria of insurance fraud specialists over law enforcement. This shift in promotional strategy also needs to include a persona-based approach to understanding the many variations in how insurance companies will use the suite of applications as well (Gardner, Johnson, Lee, Wilkinson, 2000). Promotions to get insurance companies to try the software will have to be designed and implemented, and will also be completely different compared to law enforcement trail strategies.
Pricing needs to communicate value over simply competitive positioning, and this is especially the case in enterprise software, which InfoGlide has become with successful sales into insurance companies. Pricing communicates positioning not only within a market but also within the prospects' mind from the standpoint of comparing substitute products as well (Sicotte, Drouin, Delerue, 2012). As InfoGlide has a very unique value propositions and the value they deliver is unique, they can test the inelasticity of the insurance market with high prices and gain significant revenue as a result.
As the software is highly configurable and powerful in tracking aberrations in patterns of data, it is highly recommended that a direct sales force be used. Having distribution through a direct sales teams will also lead to significantly greater relationship-building throughout sales cycles and better quality of communication with prospects. All of these factors taken together can and do often lead to longer-term sales
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