Executive Summary
A significant number of businesses and business firms continue to crop up every day. This further affects the already prevailing competitive business environment. The need for a marketing plan cannot be overemphasized here. It is becoming a necessary condition for firms that either want to enter the market for the first time or those that want to enter new markets. This marketing plan comprises of a background, which gives an overview of the company. It also contains an overview of the market situation as is with the company. It also carries a SWOT analysis of the marketing situation. Also, it analyses the customer and competition. The plan highlights the main strategies that will be used in the marketing company and the financial costs and implications.
Background
Inter-Tech is a new company that was launched one year ago. It is a virtual company that carries out its activities on the internet. This is a Canadian-based company. The company deals with the production and selling of software programs, movies, music, videos, and games, movies, and academic materials like books and other articles. For the short time, the company has been in operation, it has managed to capture a reasonable size of customers in Canada. It is now focusing on capturing a wider market in Canada, the United States, and the wider Europe and later spread to other parts of the world. The company aims to provide products and services to its customers by employing the best technologies and the best customer services.
Market/situational analysis
As it stands today, the use of the internet and online services has grown considerably. Many companies are marketing their products online. There are also many virtual companies dealing in similar products. These companies operate both in Canada and across the world. These companies include the famous Amazon among many other companies. As Intertech prepares to expand and introduce its products and services to the larger Canadian and international markets, it is aware of the many companies some of which have made themselves a big name in the business.
Organizational product and services overview
The company is dealing with making and selling software programs for computers and other technological gadgets. It is also dealing with the selling of books and other academic materials. Also, it refines and sells all kinds of music in all forms, videos, video games, and movies. The company targets a bigger market that is technologically conscious. Its products and services are wide and relevant in most of the institutions and companies. The company provides products in the most advanced way and offers technical advisory services to customers. With a recognizable presence in the major cities of Canada, the company has a solid basis on which its product will be absorbed into new markets.
Strengths of the company
The company is operating in an industry that is characterized by growing demand. The utilization of high advantage and the use of advanced technologies in offering products and customer service are likely to attract people to the company. Moreover, the company has established its services and has already captured a sizable number of customers.
The weakness of the company
The major weakness of the company is that it is a young company that is yet to establish its brand. The company is operating in a legal environment that is full of competitors some of which have well-established brands.
Opportunities
The company has technology specialists who have excellent skills in software processing and management. They can use these experts in gaining many customers.
Threats
This is a company that entirely depends on the internet and information technology to offer products to customers. Lapses in technology will often have devastating effects on the marketing of their products.
Customers and competition
The potential customers for this company are academic institutions, software companies, academic institutions, music stores, video production companies, and individuals. The company has a large field from which they can acquire and develop customers. Marketing strategies will be critical to gaining and maintaining the customers in the market. The company expects stiff competition from both the firms already doing such business. It has prepared to compete fairly through using and continued check on its marketing strategies as it adjusts to the competition.
Marketing Strategies
The company uses highly advanced technology in its products and services. This will form part of its key entry mission in the new markets. A significant number of people and companies are adapting to new and most advanced technological products. The company focuses on this element, and this forms one of its key strengths in the market. The other key thing, which the company will use to differentiate its services in the market, is the expert advice that will come along with their products.
The advice will come at a highly subsidized fee for customers, and fees will be further reduced once customers establish a permanent relationship with the company. The company will adjust its prices so that they can favor their customers. Pricing will form part of its strategy of differentiating its products and services. A massive advertisement for the company and its product offering will be done on the internet.
Financial goals
This is an extensive plan, and a lot of money will be spent by the company as it seeks to gain new customers in new markets. Advertisement is projected to cost the company the highest amount of money. As it expands, the firm will also have to employ more experts and expand its network with its suppliers. This will also consume a sizable amount of money as will be reflected in the budget.