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Marketing ITO: A Strategic Model - Essay Example

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As the newly hired marketing manager for ITO, the first action I would take would be to assure that our marketing mission statement met our long-term goals. We still live by the 4P's of Price, Placement, Product, and Promotion. However, we would also initiate a program to shift our focus to the 4C's of Customer Value, Customer Convenience, Customer Costs, and Customer Communications (Kotler 2005)…
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Marketing ITO: A Strategic Model
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Marketing I A Strategic Model As the newly hired marketing manager for ITO, the first action I would take would be to assure that our marketing mission statement met our long-term goals. We still live by the 4P's of Price, Placement, Product, and Promotion. However, we would also initiate a program to shift our focus to the 4C's of Customer Value, Customer Convenience, Customer Costs, and Customer Communications (Kotler 2005). This would shift ITO's focus toward our long-term marketing strategy of creating an image of a Customer Oriented Provider and developing the intangible resource of brand loyalty.
The shift toward customer focus would necessitate the implementation of a Customer Relationship Management (CRM) program. It's imperative that ITO gets to know its customers. Since much of our work is done remotely, we may be missing opportunities for up-selling, value adding, or filling a customer's unique requirements. We need to ask, "What can we offer the customer that will increase their business". We turn the focus away from our product and spotlight the customer's business. If the customer's business increases, ours will also increase.
This plan will rely on the relationship we build with our clients. ITO is not simply looking to provide customer satisfaction, we also need to build customer loyalty (Day & Reibstein 1997 p.60). To do this we need to promote ITO's distinct advantages in the marketplace. We are competing with international vendors from India and Canada. ITO needs to differentiate their brand to offer value to the customer that does not compete on price. There are several areas that we can exploit to our advantage such as geographical proximity, culture, language, and politics. On site presence and reduced response time bring value to our product.
Because the global market for our product is highly competitive and weakening, to continue to grow we will need to gain market share. Customer Communications will be vital to reach new clients and generate new customers. This could be done through an increased participation in trade shows, conferences, or seminars. Publishing useful information about ITO and how we can maximize a customer's profits could reach potential business.
ITO needs to assure that its marketing analysts and senior management are all working toward the same shared vision. Marketing is no longer just the people who promote the product. The marketing department is actively involved in development, strategy, sales, and leadership. Marketing is responsible for finding out not only what the client wants, but also what else they can use.
As Marketing Manager, it would be my responsibility to communicate the marketing plan to senior management. There would be a clear and easily understood strategy. It would have a well-defined timeline. The presentation would underscore our strategy of creating customer value by differentiation and service. We are not competing against low cost competitors; we are generating revenue by increasing our clients' sales. Saving the customer money will erode our profits, making them money will increase our profits. We need to create a marketing mindset. ITO needs to view the whole company, from the contractors to the CEO, as an extension of marketing (DeAsis n.d.). This will insure our continued growth through these difficult economic times.
References
Day, G. S., & Reibstein, D. J. (Eds.). (1997). Wharton on dynamic competitive strategy. New York: John Wiley Inc.
DeAsis, K. (n.d.). A marketing mindset Is key to CEO's success. Retrieved February 12, 2007, from http://www.incitrio.com/images/Marketing_Mindset.pdf
Kotler, P. (2005, April 22). Brand autopsy: Marketing Practice. Retrieved February 12, 2007, from http://brandautopsy.typepad.com/brandautopsy/2005/04/according_to_ma.html Read More
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