Step-By-Step Guide for Increasing the Market Share of a Software Development Company - Case Study Example

Download file to see previous pages The professional creator market segment accounts for ten percent of the total sales in multimedia software.  Other segments of the multimedia market include the modern students, home producers, harried assistants, high-tech managers and concerned parents where the size of the segments are 20 %, 15 %, 25 %, 22% and 8 % of the total multimedia sales, respectively.  The market segments are best illustrated in the pie chart below. Growth Trends
Market analysts see a continuing growth for a decade or so in industry sales of multimedia software. The individual trends of the growing market segments are reflected on the line graph below.  The data available spotlights the growth period of the market on Period I to Period III.  The forecasted rate of growth in years following Period III is assumed to be less likely as high as the previous years when the market matures. The growth rate of the assistants segment is faster than other segments in the initial periods but tends to decline as the years progress.  The growth rate of the modern students and home producers segments are high across the period and it is forecasted to continue with the trend linearly over time.  Other segments’ rates of growth are low. Softtech’s targeted market segment has a low growth rate in the initial periods.  The demand of multimedia software is not high.  It is the second lowest segment growth, next to the concerned parents segment.  The company must focus on different marketing mixes and advertising strategies in order to develop the market segment. As the market matures, they become more fragmented.  Competitors work hard to find customer niches that had gone unattended during the growth stage.  The marketing management of Softtech Company must find ways to exploit the niches in order to sustain its competitive advantage and achieve market leadership. (Best, 1997) Marketing Strategy (4P’s)
The marketing team has chosen the brand name “Softtech.”  The brand name is built around the core competencies of the company. ...Download file to see next pages Read More