Product, Price, Promotion, and Placement - A Non-Profit Organization - Solve Inc - Term Paper Example

Product, Price, Promotion, and Placement - A Non-Profit Organization - Solve Inc Improving the Poor Performing Elementary School in Dallas, Texas ISD S.S Conner Elementary School STATEMENT OF WORK (SOW) 6.0 Marketing Strategy (Four Ps of marketing: Product, Price, Promotion, and Placement) The services that we are offering to people are critical in satisfying customers’ needs since we are committed in improving performance of education standards. The services that we are offering to the market are consumer friendly since it is free of charge. We did conduct our market research in establishing an effective marketing mix. We have been able to understand the target market and the strength of competitors. This has allowed us to proffer services that appeal to the customers, essentially to avoid mistakes. The services that we have offered to the market measure our strength and weaknesses. This has answered the needs of customers in a timely manner and provided return trade off. Price Price entails the charge of the services that we are offering; this has been tricky since it determines customer base of our company. We are offering low priced services and products to allow customers afford. In addition, we are non profit Non Governmental Organization thus our services are public oriented. We have been able to observe market environment and competitors’ price strategies to ensure we are relevant. Place Business location is a critical ingredient in success and expansion since it increases convenience between suppliers and the organization. Our location has been strategic especially in residential areas, highly traffic and main roads that are easily accessible. In essence, the strategy is focused on the commuting families and individuals. In addition, the company aims at supplying their products and services to local businesses, offices and schools. On the other hand, location of business should be close to processing facilities, market and source of supply. Promotion We have committed in advertising our products and services through internet Web site, which has proven to be effective. Notably, internet is fast turning into a major promotional avenue, and the institution believes it will advance with regards to the importance over time. Furthermore, it is the most convenient means for us to wide presence from the onset. 6.1 Target (s) – List major customer now and expected in the future Our major customer at the moment is the S.S Conner Elementary School. After we are successful with the school we will extend our services to other poor performing elementary schools within the area before we expand to other institutions of learning within and outside the state. 6.2 Image The image of our institution is very vital because it finds out the relationship with our customers in the education sector. Having a good image will attract customers and clients to our table. We intend to do what we do best. By being the best in the education industry, we will become a respectable leader in the field. The level of education in Texas should be top-notch. We also seek to promote and offer quality services. This way, clients and prospects will acknowledge our services. 6.3 Promotion Our promotion will center on several key strategies Internet Web site – the internet is fast turning into a major promotional avenue, and the institution believes it will advance with regards to the importance over time. Furthermore, it is the most convenient means for us to wide presence from the onset. Public relations – we will put some amount of effort towards preparing and spreading a constant flow of press releases – they will be based on tales about our activities, destinations, our staff, and corporate clients. The institution will employ a public relations adviser to aid in writing, copying, and locating publications educators. 6.3.1 Image We intend to find a nice logo for out institution, which should explain what we do. Image means a lot especially for small institutions which are ready to face competition in their market. Our image will be conveyed by the institution’s colorful logs, its aesthetic value, our website and business cards. We understand that the image is all about what we want to convey about our services, our product, work ethic and professionalism. 6.3.2 Publicity The institution seeks to embark on several ways to generate publicity. We understand that publicity, especially in the media can be hugely valuable in building awareness and credibility for our institution. For instance, a legitimate new story can prove to be an endorsement that can reach a vast audience. We intend to use the following forms of publicity among many more others: speaking engagements; self-authorized stories published on industry publications and other websites; expert and professional quotes in a story written by a blogger or journalist; interviews/ news stories in industry sites, trade journals, magazines, and newspapers. Publicity is a highly cost-effective move that can: generate an ongoing dialogue with the educational market; inform the market regarding the issues our institution can actually solve; drive participation in an event or promotion; drive prospects to our company website; and create awareness regarding our services, expertise and people. 6.3.3 Advertising Our advertising will pivot around several key strategies: press advertising, Internet website Press advertising – the organization will embark on a small amount of press advertising to augment out public relation doings. Substantive amount of research points out that the more probable clients hear about your activities, the more likely they are to embrace and inquire about your service. Customer relations – we intend to keep records of all data including client needs, source of inquiry and many more others. This delivers the personalized service, which we will use to encourage out esteemed clients to recommend our services to relatives, friends, employers, and colleagues. 6.4 Pricing Methodology (Value, Cost, Service) We intend to charge our clients the perceived value of the work or service we offer them and not what it costs us to execute the work. At times, the cost is considerably less than the value (Pinson, 2008). Nonetheless, the institution should benefit from the gap. We take our costs to be the pricing floor and not the ceiling. We will consider resource requirements, talent level required, scope complexity, time sensitivity, client responsiveness, and client organizational complexity. Our evaluation of the above factors should help us settle on the total cost we expect to incur. We seek to consider a number of value factors including the financial impact, strategic importance, value horizon, unique agency qualifications, degree of risk sharing, and IP ownership. 6.5 Sales and Sales Cycles (linear constraint in forecasting revenues) We intend to follow seven stages in the sales cycles. Firstly, we need prospects for leads because it is hard to prospect without comprehending our service products. The second stage is to set appointments with our customers. We would prefer to call over the phone and discuss any detail and questions. Otherwise, we also intend to send email, sales letters or send sales agents to our new and prospective clients. At the third stage, we intend to confirm with all our prospects on whether they are able and willing to buy our products. The fourth important stage is making our presentation. We intend to invest lots of time into this stage. Besides selling our agenda, we will be selling representing our institution, which will be a plus for us in the near future. Next, we intend to address any prospective issue. After making the presentation, we will ask for the sale and lastly ask for referrals. 6.6 Channels of Distribution (placement) – Direct/ Indirect We intend to use a direct distribution channel where Solve Inc will be selling its products and services directly to customers. Notably, the Internet has greatly helped us to use direct channels. This is crucial to the institution because it helps us cut costs by avoiding middlemen who may markup on our services and innovative products. In future, we intend to use selling agents and more internet sales as two types of direct distribution channels. The selling agents will be working for our institution and market our services directly to prospective clients through various means such as mail order and the Internet. We find the Internet to be a useful and easy distribution channel because it’s globally available and can cover many other schools that might require our services. 6.7 Logistics Our institution has been successful in managing the logistical and distribution channels, which has enabled the company to reduce cost and maximized profits. The company has been able to stick on the control that optimizes profit. The company supply chain management has been effective in procurement, distribution and production. The company retail branches have enhanced product penetration into the market. This has increased company competitive advantage as the strategy has helps in managing inventory, linking supply and demand, as well as, reducing costs. The company Information Technology uptake has been tremendous. Technology uptake has enhanced the company cost advantages. Investments on information technology have enabled the company to improve logistical systems. The company scheduling techniques have enabled us to realize effective distributions of the company products. In essence, the companies gives date and time that activity are undertaken. This enables the company to enhance operational and supply chain management to enhance their operation. We have been effectively been expanding their operation in line with contemporary scheduling techniques. The company effective scheduling is effective and has been in line with the company mission and visions. Firstly, they have a centrally management of inventory that is suitable for controlled and timely delivery of clothing globally. In addition, the company has strong Information Technology system. The company has reduced designed cycle time where they timely response to items. The company has been able to sell, quickly alter and transform their design to give customers their demands. 6.8 Support / Training From the beginning the support staffs have job descriptions, a training history and career file, and a record of review, as well. New members will have to take a Psychometric Aptitude Test before they are shown around the institution. Out staff usually undergo full product training. They also have to spend at least four weeks a year doing groundwork. We intend to start with just a few personnel of full-time employees before increasing the number as the years go by. 6.9 Time to Market Analysis We believe that by focusing on the improvement of the poor performing elementary schools in Dallas, Texas, offering a limited but wide range of educational packages, and targeting our service at poorly performing schools, we can meet our client’s needs. Our specialized knowledge of the needs of students in Texas will allow out institution to satisfy out esteemed customers and surpass the services our current competitors offer. Studies show that a number of elementary schools have specific needs that are not currently being met. 7.0 Competitive Analysis and Technology Elasticity Issues Globalization and the increased connectivity in the world have forced businesses to venture globally to attract and expand market share. Notably, globalization and increased competition has necessitated the expansion of outlets. Customer demand and need for convenience has enabled the institution to establish many supply chain globally. Significantly, supply chain management is critical for success of any multinational company (Lee, 2011). The increased muscles and expansion in the supply chain management is the driving force to the success of this company. Notably, supply chain management role in the company has been on managing important processes. These processes have been on developing, distributing, and selling the products and service in the region. The expansion of the company has been tremendous, with outlets in outlets in the country. We comprehend that market and customers need for quality products and services. The company has continued to proffer quality products and services that are exclusive than their competitors. Many companies are squeezing their profits by producing products in bulk and reducing their process. We understand that customers pay for exclusive and premium products. This has motivated the company to design, produce, manufacture and distribute products effectively. Importantly, the company supply chain management is efficient and has enabled them to have their products in the market before other companies could design similar products. The company approach has been to have quality products and be at the convenience of the customer The success depends on their strategy management and implementation (Abrams & Abrams, 2003). These strategies include employees’ approach, vision and mission, innovation, promotional ethics. The success of Starbucks is attributed to the well established retailing and distribution channels. The company has invested heavily on technology and competent employees who understand the company’s target. This has enabled the company to realize their customers’ expectations. People’s perception of the company has been business partners rather than commodities that they offer. In addition, the company saves on advertising and promotional cost by relying on word of mouth advertising. The innovations have enabled the customers to order for the beverages online or phone on advance. The company appetite for technology made them to install espresso machines to speed up transactions. Moreover, the company has been successful owing to access to internet in their outlets. This strategy helps the company attract technology savvy customers, as well as, help in advertising 7.1 Competitor Identification and Capabilities Analysis Michael porter strategies have helped our organization realize competitive advantage and expansion. These strategies include cost leadership, market segmentation and differentiation strategies. Cost leadership entails the ability of the firm in ensuring the organization is able to under-price its competition. The ability of the company to differentiate their products and services from its competitors is critical (Abrams & Abrams, 2003). This will enable the company to gain competitive and comparative advantage. Market segmentation is the ability of company to focus on products and services that reach a specific market niche. Many companies stress on cheap labor in reducing the operational cost. However, the focus should be on technology to improve operation responsiveness to customer. This will enable the company to improve customer satisfaction and reducing operational cost. The basis for the company to determine the price of their products and services is on operation management. 7.2 Detailed Value Index The valued price index of an aggregate calculated as weighted average of the price indices for the weights and sub aggregates. 7.3 Competitor Strengths and Weaknesses The two main competitors include Jay and Sons Inc., and Education Internationale. Education Internationale appears to be the stronger of the two because they have an experienced management team and strong client base, as well. However, its press releases appear to be of low quality. Its location is also undesirable with limited customer parking and service space. Jay and Sons, the other competitor seems to be lacking the expertise necessary towards lifting up the education standards of schools in Texas. 7.4 Positioning against each Competitor Solve Inc. will curve a specialized niche in the educational sector, with its focus on improving educational standards in many elementary schools in Texas. Although we are currently starting with one school, we expect to build ourselves a huge customer base who will be satisfied with our services. In order to stay relevant and competitive, Solve Inc intends to establish itself as the leader in the education sector for Texas with its high-quality service and superior product knowledge. The low standard of education in the area presents an exceptional opportunity for Solve Inc to expand in a rapidly advancing market. 17.0 Appendices – supporting material – major contracts (names, T&Cs), studies, reports, new articles, etc. 17.0 Appendices – supporting material – major contracts (names, T&Cs), studies, reports, new articles, etc References Read More