IBM Marketing Strategies Analysis - Case Study Example

IBM Study June 25, IBM Study Marketing concept IBM’s study was based on marketing strategies that various farms are usingto reach out to their customers or clients. The marketing concept at hand is that of using information technology in marketing in order to utilize the edge that has been brought about by mobile devices and social networks. The strategy involves putting marketing and Information technology executives into working together. Marketing through mobile devices and social media provides a significant edge such that highly performing companies have a likelihood of utilizing these channels in order to provide a companywide customer experience. Mobile devices and social media are a marketing force that is pulling in a lot of players to the point that marketing executives are considering it. This is in the form of delivering mobile advertisements (Levine, 2012). In addition, mobile websites are playing a key role in marketing because; a significant number of marketing executives have intentions to launch marketing campaigns on the mobile platforms. On the other hand, the remainder, still substantial in numbers, target the use of mobile applications, which also fall on the same mobile platform. This shows that use of information technology, especially mobile technology, is taking a wide base among industries in finding selling points for their products. Additionally, the concept of using information technology in marketing is going beyond conventional levels by using social media applications by making use of user generated content and launching advertisements to be posted in social media. Marketing myopia is a term used to refer to the manner in which organizations focus more on their products than the clients or customers who purchase them. The entire concept of using mobile platforms and social media ignores the customer. This is because; it only handles how information on the products they manufacture will get out to the world and to potential customers but not how the customers will receive the product or whether it will suit their needs. These strategies in marketing are focusing almost entirely on developing advertisements and not feedback mechanisms that customers can use, such as those found in social media. Therefore, companies are valuing the sale of their products, rather than customer satisfaction. Companies using information technology are focused on their own growth and, therefore, have no clear idea or vision on the needs of the customer as is evident in the research conducted by IBM. Companies and organizations that have such practices, of marketing myopia tend to fail as customers are more interested in institutions that care for their clients by providing support and coming up with products that interest them. Instead, they are more into advertising their products than paying attention to the people. Marketing myopia that this marketing strategy is based on focuses on the fact that consumer habits change from time to time as so does the use of new information technology channels. Therefore, companies believe that by paying more attention to their products, they are placing the company in a position to succeed. Utilizing the information technology concept in marketing segments the intended audience to be reached in various ways such that the advertisements reach only the intended viewers. For example, using social media in marketing reaches only those with access to social media and have accounts with the various providers. Using information technology, therefore, allows customers with access to be reached by information, which would have otherwise, by passed them by meeting the advertising needs of these specific customers. The above also accounts for target groups that cannot be reached by any other means. For example, by use of mobile devices, particular consumers may not have access to full websites, except through these devices. Therefore, these target groups are reached by such strategies and by use of consumer implications based on interests expressed on social media. One example of a company using segmenting, positioning and targeting for their products is Facebook. The company joined the stock market, and other companies are now using user profiles to predict what certain users are interested in and, thus show advertisements based on information that is posted on their profiles. As a result, target groups are reached, and those with access to the internet and are computer literate receive information based on their profiles. Facebook, a social media website used by advertisers, exhibits characteristics of products’ life cycle. This is in the form of having marketers post their advertisement on certain user profiles and as time progresses, the popularity of the advertised product soars. However, with time, it declines and finally comes to a complete halt where it is no longer viewed, and the product sales reduce drastically. With these features, Facebook generates revenues according to the views that are made on each advertisement until the lifespan of the advert comes to an end. Information technology in marketing has influence form various environmental factors such as technology and the population to be reached. Technology is the medium used in delivery of information on products in this case. As a result, it is crucial to know what populations have access to the kind of technology that a company uses. For example, with limited technology, a company cannot reach the required mass population with information on their products. Moreover, if the population cannot access the intended platforms of use such as mobile websites through mobile devices and various social media channels, then it means that the company’s efforts to use technology are to fail. Use of information technology as a marketing strategy is highly viable in trading various products and advertising them to target groups. For example, segmentation along the lines of age, allows for advertising to reach the youth more easily as they are more interested in technology and most of the time use mobile devices and social media to express ideas and interests. In addition, use of social media reaches more customers over a shorter period due to its wide spread use. However, information technology lowers the life cycle of a product in that the phases that a product has to go through are accelerated. This is because; the popularity of a product reaches its peak at a higher speed as compared to using conventional marketing strategies. Therefore, chances of losing its popularity are as equally as high because, the product aces increased exposure to consumers. In addition, strategies used in the use of information technology are myopic and, therefore, do not pay attention to the needs of the consumer making the strategy unsuitable. This unless means of integrating all parties involved in the product are included and their needs looked after. These include; the consumer, the company, marketing executives and the information technology executives to come together and find a way forward to make products successful. Levine, Barry. (June 22, 2012). IBM Study: IT, Marketing Need To Get Together More Often. Retrieved on June 25 from http://www.cio-today.com/story.xhtml?story_id=112009ZHVPM8 Read More