The paper "The Company’ s Vision for Future" is a wonderful example of a Marketing Case Study. There are two major market opportunities underlying at the company’ s disposal that can significantly be used to derive the corporate vision of IBM with a focus on enhancing its future sustainability. The first opportunity entails that, there is an increasing trend of customers’ awareness in regard to technology around the world. This presents a good and viable opportunity to avail IBMs products for such populations. As the customers adopt the use of new technology, the more sales the company will make.
Secondly, cheaper telecommunications costs are being experienced and applauded worldwide. Therefore, more people are willing to communicate mainly using the internet thus increasing demand for hardware and software devices. Besides these two substantial market opportunities, there is a dire need for the IBM to address the emerging threats, mainly, increased competition and counterfeit products. These could be addressed through high level innovation for development and production of high quality products to remain competitive, which would thereby be realized through enhancing better customer satisfaction (Lamb, Hair & McDaniel, 2012). Having reviewed these marketing opportunities attributed to IBM, the most suitable corporate vision for its future would be to consistently accomplish the real-time consumer demands and needs through embracing innovation, research, and product development in order to ultimately achieve maximized customer satisfaction and market leadership in the industry.
Remarkably, this is a very strategic vision for the company in its efforts to enhance its future sustainability (Gitman & McDaniel, 2009). Worth noting, in the electronics and computing industry, the target consumers are no longer purchasing just for the sake of merely buying a new thing, regardless of the dire need they may be experiencing.
However, they are increasingly purchasing technology products because they have evidenced some sort of benefits in them. Thus, they do not invest their money without evidencing benefit at sight (Lamb, Hair & McDaniel, 2009). This shows that consumer demand in electronic and computer products has significantly become different, which thereby calls for the company to redesign and adopt different and new strategies. More so, the IBM Company has got to change its marketing system entirely, as well as it's a way of production through emphasizing innovation and new product development for better customer satisfaction in the long run.
Most importantly, this would become a key strategic tool for enhancing the company’ s competitive advantage. In doing so, the company would significantly take advantage of exploiting the market opportunities at its disposal, which include the increased demand for high quality and original technology products that suitably satisfy the real-time customer demands on a consistent basis. As a result, such accomplishment would consequently benefit from increased market share and market performance through ensuring maximized customer satisfaction, which would ultimately lead to market leadership in the industry (Ferrell & Hartline, 2011). Essentially, in order to realize the company’ s vision more effectively, the company’ s new strategy would involve more marketing as compared to selling.
In this regard, there would be two marketing strategic components that IBM would significantly plan, formulate, and design, which include the positioning strategy, as well as the marketing mix strategy. Nonetheless, the key thing is that IBM should remain more focused on its target clients and should be driven by their specific needs as opposed to the technology trends in the industry.
More importantly, the company should also have a focus on offering consultancy services, as well as providing business solutions through developing and marketing new, quality technology products for better customer satisfaction. In this regard, IBM would be aided by setting its priorities right with respect to its potential. In the long run, the company would increasingly earn itself a high competitive advantage in the industry, which would be sustained consistently with a key focus of positioning the company as the market leader in the industry.
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