Mission Statement of Multi-Product and Multi-Service IT Company - Essay Example

Our Company

Is a diversified multi-product and multi-service IT company.

Makes computer peripherals and hardware. Develops customized software. Has copyrights for films and music. Works as an outsourced process resource for MNCs. Creates, installs, and manages organizational processes for clients.

Industry Overview

The constant change is marked by higher levels of deliverables. Decreasing time to market- expansion of media opportunities for exposure. The emergence of the Net as a formidable medium of communication. Net takes precedence as a point of sale. Net proliferation is very innovative since the product portfolio of the company and its competitors are very appealing to Netizens.

Analysis and the way forward

The company feels left out somewhere- it is difficult to pin down exactly where it has missed out. Gradually slipping on the share of voice in the market, top-of-mind recall, may not be slipping yet in terms of volumes.

An organizational audit yields the following results:

The channels are perfectly fine; the products are superior, and the sales team has consistently performed well as per defined parameters. The company has some of the best talent in the verticals they address through their services, and has forged excellent strategic alliances with the best developers, and production houses. A committed team of professionals form the Board of Directors.

The initiative is controlled- a positive conservative approach is evident.

Risk appetite is low- the company plays safe.

But what is missing?

So we decided to do a quick customer dipstick on the ground and the Net as well.

Results indicate:

The company is seen as stable but not flamboyant. Staid is the word- not exciting!

The reach is wide enough but not across.

Articulation of the product strengths needs reinforcement- the general impression is hazy.

A breath of fresh air is needed to make it more attractive- carefully selected below-the-line activities which make each moment of truth a happy experience.

New product introduction needs to be more focused- users and potential users are missing out.

Focus on market research and product R & D is essential- it is a buyer's market today. Show the way forward - create what is in demand- it sells better.

Higher decibel levels of competitors in the right place at the right time are seen to be taking away business from under the company’s nose.

Key opinion leaders (KOLs) are not so close to the company- an effort at winning them over is essential.

Viral marketing is very low-key and thus ineffective.

Suggested Strategy

Identify need states, innovate/create products to satisfy need states, and Create first movers rather than “me too”. Modify, not replace current products.

Innovate communication in step with product innovation.

Blow your trumpet. Delight customers with product experience.

Proposed Mission Statement options

Option1

Create value for stakeholders (internal and external) through cutting-edge products and services by highlighting the value differential and offering a competitive advantage.

Option 2

Reach out to individuals and organizations alike to enrich their existence through constant product innovation and focused communication.

Option 3

 Delight every user with complex contemporary technology delivered simply and effectively in the right place at the right time.

Important

Mission statement to be converted into doable targets and measurable objectives- only then is it a successful mission statement.

Executive Summary

Keeping in mind the findings of the organizational audit and the dipstick customer audit, we need to realign our strategies for product development and selling through an appropriate marketing strategy that redefines our passion and extends it beyond on-the-ground activities, and convinces our customers of the value differential. While advertising may introduce the product, other forms of communication like below-the-line activities, direct marketing, viral marketing, and network marketing have to be initiated to complement it and create the required impression.