: Legal formalities needs to be attained from the political parties and the government officials in order to get the structural changes on the technology front to be implemented and getting them approved prior to its execution for which strong political relationships will fetch a higher price for the technology transactions happening in the online mode. If this prerequisite of a strong political back up and support is missing then the chances of this web design technology would result in being ineffective in its development.
Economic factors: Based on the amendments in the WTO (World trade organization) acts it is seen that the trade practices has been liberalized and encouraged for the web technology transfer which gives leverage to the suppliers and the trade liberalization along with the changes in the protection of the patent laws, will encourage them in terms of purchasing power and availing the technology skills to the fullest. To get the economic benefits of the purchasing power parity, purchasing priorities the firms needs to meet up to their business economic requirements.
Social factors: These factors are very crucial for the web designers as it is the individuals and corporate requirements which needs to be addressed meeting up to their level of satisfaction there by the research team will have to be rigid in conducting a study based on the reactions and the behavior of the customers towards wed marketing taking into consideration their past experiences and meeting up to the web requirements.
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Solving major social and human difficulties is the task the web designers should focus upon to efficiently and effectively progress through the product life cycle and its development. Technological factors: Providing sophisticated and the state of the art technological skills there by creating a positive image in the minds of the consumers and their target audiences where in the web design companies have to show their caliber in meeting up to the intrinsic requirements of the consumers which makes them feel satisfied that they have been cared for.
The main objective which the web design company should focus on is the high tech and high touch factor of technological advancements. Legal factors: The utmost priority for the firm is to satisfy the prerequisite formality of acquiring a legal license to go ahead in its development and during this process the acquisition of patents and copyrights needs to be availed off from the department of legal services and there off obtain the notice to advance in the web designing process.
Goals and Objectives: The major task which the firm needs to aim at is to make sure that the web site developed is made known to the target market there by ensuring that the website is a platform for providing variety of products / services and the offerings which helps in the overall objective of attaining highest market share and increase the profit margin of the company.
Website development in itself will incur $5000 as budget and the overall marketing campaign will cost a total of $65000 based on the estimate calculated by the business executives. In addition to the budget firm’s recall ability, awareness, brand recognition, navigation factor are some of the additional goals which the firm has to think about. Segmentation and Target Market: The target markets for the new web design company are the small, medium and large companies who require the need to avail the first hand information from the online media.
This will in turn pose a threat for the offline retailers and the agents who also target the same market segment which needs to be dealt in totality as the niche market of the web design firm would otherwise be affected for which the firms may also focus upon individual consumers to meet their requirements and to reach to the larger masses in general. The various variables that will affect the business markets are as described below.
Demographic Segmentation: Here the firm should identify which firms from the small, medium, large company lists needs to catered to along with the company size requirements and the geographical area that can be tapped upon. Operating Variables: The firm needs to understand the various operations that will be necessary for the development of the new web design company by considering the technological considerations the clients will require, the status of the clients being heavy users, light users, non user and also the potential of business which the clients or customers can transact with the web company for availing the products and services.
Purchasing Approaches: The client’s degree of the business processes being centralized or decentralized requires focus here depending on which the various purchasing functions for a technology, engineering, manufacturing or a financial company will change accordingly based on the criteria of speed, price, value or quality and service. Situational factors: Depending on the urgency of the client’s requirements, based on the different applications the customers need, the kind of order size the client’s or customers will look forward to whether large or small lot sizes are some of the parameters the web design firm will need to address on.
Personal characteristics: Based on the customers or client’s personal characteristics and features the web design company will proceed with their website development for which the attitude of the customers depending on their capability of being risk takers or risk avoiders would entail much consideration. Loyalty is yet another issue which the firm will reflect on while thinking off the client’s to have a relationship with.
Marketing Strategy: The marketing strategies should actually speak about the form the new web design company will take after its implementation based on the support rendered by the 4P’s i. e. Product, Price, Place and Promotion. Product Strategy: Looking towards satisfying the needs and the wants of the target audience and the segment identified, the web company will need to progress as a service center to furnish the goals and the objectives set above.
Pricing Strategy: Considering the product life cycle of the new company, the introductory stage will entail more focus as the rates needs to be price competitive and affordable which in turn will relate to the value for money the client’s would be offered. Place Strategy: Since the web design firm will act as a non store retail format following the business of e-tailing, cyberspace is what the company will require to buy to start up with their transactions to get their functions getting noticed.
Although a non store format will be convenient for the customers, still there are chances of the products and the services not been catered to on an individual person to person basis which is not the case of a store based retail format. Promotion Strategy: The various channels which the firm will have to focus on to reach their target segment is by way of business magazines, national newspapers, business news channels, catalog marketing, kiosk marketing which will facilitate the purpose of publicizing the business firms new venture into the market.
Budget: The total consolidated budget that has been allocated for the total project of the new web design firm is $70000 of which $5000 is for the purpose of web development and the remaining for the marketing campaign which includes event sponsorships, advertisements etc. based on the above study on the marketing situation, the marketing department will focus upon the following budget criteria’s for the years plan.
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