Global Journal Management Business Research -Myassignmenthelp.Com

Question: Discuss About The Global Journal Management Business Research? Answer: Introduction Dell was founded in the year 1984 by Michael Dell by the name of PC limited with a capital of $ 1,000 and a game changing vision about the design, manufacturing and selling of technology in the future. The company soon changed its name to Dell in the year 1987 and has now become one of the largest Multi -National computer Technology Company. The headquarters are located at Round Rock, Texas United states and employees over 100,000 people[1]. The company is in the business of developing, selling, and repair of computers and also supports the computer and related product and services. The company sells PCs,Laptops, servers, data storage devices, switches, software, computer peripherals, HDTVs, camera, printers, players and electronics built by other manufacturers. The company has made a name for itself in the computer industry and boast of a global reach. The company is presently focussing on the developing economies and is providing them with best of computer devices to strengthen the existing ecosystem of laptop market.[2] Dell faces strong competition in the Hong Kong market from its rivals HP Lenovo. The purpose of the report here is to understand and analyse the current marketing strategy and position of the company. The report will also focus on the USP of Dell; perform an environment analysis for Dell. The report will further focus on the competitive landscape in the laptop market and conduct a SWOT analysis for the company. Microsoft, HP, IBM, Apple and Lenovo are the main competitors of Dell. The report will give an insight about the micro and macro environmental forces which are critical to the company. Environmental Analysis-Dell The purpose of environmental analysis is to focus on the external and internal factors which might affect the business in the future; hence the organizations have to take a calculated move in order to prevent the damage from the uncertain environmental conditions. Micro and macro environmental forces thus play a very important role. [3] Macro Environmental Analysis Macro environment can affect any kind of business and hence it is advised that companies do a thorough understanding of the forces relevant to macro environment and accordingly make a back- up plan for any adversity in the future. PESTLE 5 forces is the most popular model which is used for the analysis of Macro environment. PESTLE Analysis DELL is one of the renowned brands when it comes to PC Laptop industry, globally, the company has created a positive image in the minds of consumers by providing quality products further supported by excellent customer service guarantee. The Laptops of Dell are considered as safe, reliable, equipped with good performance and pocket friendly. PESTL analysis will help in understanding the effect of external environment on DELL. Political Forces It has been seen that the political forces have a major impact on businesses which are operating internationally. The global players have to deal with the growing political pressure, policies related to foreign businesses, tax regulation and the ever hanging political environment. In context of Dell, the prevailing tension between US and China and cause trouble to the US laptop giant. In addition to this, political stability plays an important role, if the government changes it changes a lot of policies which might affect the business of Dell. In the last few years, the European union have been facing a lot of political and economic turmoil which has been affecting the business of Dell in a lot of European countries. Dell depends on China for the raw material and cheap labour, hence if relation between US and China do not improve quickly the company will either have to look for an alternate market or suffer a major blow.[4] Economic Forces Economic forces not only change the condition of the nation but it can also adversely affect the purchasing power of people, further slowing down the economy. The world is recovering from poor economic condition of few nations, especially in the EU; this has significantly affected the business of Dell. Although the Asian economy is doing good, but Dell has not been able to penetrate the market to the level as expected earlier. Hence, reduction in the purchasing power of the consumers, coupled with slow growth rate of an economy can cause problems for any brand.[5] Social Factors Social factors play a very important role for businesses, especially with the changing ecosystem of technology, companies have to keep on reinventing themselves to better suit the needs and wants of the consumers. The pattern has now been shifting from large PCs to compact desktops, tablets and smartphones, all the brands are doing their best to use the economies of scale to best use. It can thus be said that in order to be ahead of the race brands have to consistently keep revamping their product strategy to fit the growing needs of the consumers Technological Factors It is a known fact that Dell is a technology company and hence the company keeps on inventing new products according to the changing consumer behaviour and technology. Over the last decade smartphones have hurt the PC and the Laptop market significantly, hence Dell has been hurt adversely due to the changing technology ecosystem. Dell has been consistently been changing its brand strategy to target its existing and new customers, but, the sales have dropped after proliferation of Smartphones and Tablets across the globe.[6] Legal Factors Complying with the legal requirement of a nation is really important for any brand having international operations, as different nations have different legal requirement thus the international brands have to comply with all nations requirement. Environmental Forces The governments have been going really strict with preserving the environment and have posed severe fines on the companies not complying with the environmental regulation. Customers have also become aware of the growing euphoria around the environment and thus prefer to buy from companies who are focussing on environmental sustainability. Dell is not behind its competitors and has invested heavily in recycling; energy efficiency and other areas to improve the impact Dell product have on Mother Nature. Marketing Strategy-Dell Perspective Marketing strategy can be understood by analysis the 4Ps of marketing mix of any company. The marketing mix focuses on the company Product, price, place and promotion strategy, and how the company used these parameters to classify its market and keep market dominance over its competitors. Product Leading producer, distributer and marketer of PC, Tablets, Laptops and computer peripherals. Dell believes that marketing is not only limited to providing goods to the consumers, but it is related to catering to the changing needs of the consumers. The company provides a number of products which cater to the needs of both family and businesses.[7] Price Dell changes its pricing strategy according to the life cycle the product falls into. Dell focuses on producing low cost laptops for its audience. Dell has been cutting prices recently to cut the competition. Dell products are customizable and hence its price is a function of customization.[8] Place Place is the channel for distribution of Dells product. Dell uses retailers, distributers and warehouses for the distribution of its products. Place is the component Dell excels in, its products are available at the nearest dealers and thus customers have easy access to Dell products.[9] Promotion Dell uses both the traditional and contemporary tools of marketing to promote its products. It is heavily focussing on the Digital medium to increase the brand awareness of its products. The company keeps on sponsoring a lot of industry events to create the brand awareness. It has recently gotten into organizing quiz and contests for people to participate, thus increasing the product sales. Competitive Advantage- Dell Focus One of the biggest competitive advantages the company has is due to its logistic dominance over other players; the company maintains a direct relationship with the consumers despite using a retail channel. The company also follows a built to order strategy for its consumers, giving it an edge over its competitors. There are other parameters which makes Dell unique in the way it is, some of the notice worthy points are: Dell has an extremely fast communication system. Dell keeps its IMC clear and sound, thus everyone is aware of what Dell does the best. Dell selects partners after a detailed scrutiny and tries to keep a long term association with them. Dell has a minimum number of suppliers to be in a position to check the product quality. The company uses the modern days tool of digital marketing for increasing brand awareness. The company focuses on the best solution and not just the technology, the comprehensiveness of its solution is one of the biggest USP of the company. Dell has adopted a unique innovation strategy; it listens to customers problem in order to solve them so that a positive impact can be created in the society. Dell has one of the best supply chain networks, which makes its product easily available in the market, at the nearest dealer.[10] Dell has a customer centric approach, the company believes in fostering a positive relationship with the customers based on the pillars of trust, faith and mutual respect. Due to this the company has been able to retain a large number of its customers. Further adding to it is the customer service centres of Dell; these are one of the best consumer service centres which are always on their foot to resolve customer query and concerns. All the points mentioned above serves as unique selling point of the company and also help Dell to build a competitive advantage over other players in the market. Segmentation, Targeting and Positioning Strategy of Dell Dell segments its offering on the basis of Psychographics Demographic factors. It basically targets people who are tech savvy, professionals, working in tech industry and executives. Dell works to make its consumer channel engagement strong in a bid to stay ahead of its competitors. A strong connect, followed by excellent service to its customers are the biggest contributors to the success of Dell. Strategy of Dell is Global, it believes in staying closer to the customer so that it can build a long lasting relationship with them. User and Benefit based strategies is the positioning strategy of Dell. Marketing Analysis- SWOT, USP, Competition STP Parent company Dell Incorporation Sector IT Technology Tagline Power to do More, Yours is here USP Dell offers customizable products to its consumers. Segmentation People in a lookout for customizable laptops and PC Targeting Home users, business users, government users, business houses, large corporates, urban sectors, colleges, school etc. Positioning The company has positioned itself as a leading provider of customizable products. Strengths Strong customer support 24*7 Excellent customer services Customizable products Brand loyalty and recognition Merger Acquisitions Direct model approach Strong advertising and branding strategies Weakness Less number of exclusive stores of Dell creates some problem for Dell, it is slowly moving into a completely online model of sales. The sluggish growth in the market due to increased competition. Opportunities Increase in the e-commerce sector has opened new realms for Dells online stores Dell can tap the low priced tablets in the rural areas to increase the penetration Tie ups with a number of institution New product development. Threats Consistency in technological advancement, soon a disruption can be harbingered in the Laptop sector Computers become out-dated due to increasing innovation Rise in competitors which are providing low cost laptops posing threat to Dell Competitors HP Toshiba Apple Lenovo Acer Identification of Marketing Objectives Identification of marketing objectives sets the tone for any business organization, and hence it becomes really essential to define SMART goals/ objectives for the firm. SMART goals are one of the most important frameworks used to define the marketing objectives of any company. The SMART goals are highly specific, measurable, achievable, and relevant and are time based. For the purpose of this study, SMART goals will be created for duration of one year for Dell. SMART Goals S-Specific Create brand awareness among the target group 15-24 Years Increase the revenue by a margin of 15% from the preceding year Increase the digital footprint of Dell by a margin of 20% Increase the traffic on the website by 25% Increase the engagement and conversation on Social media sites by 10% M-Measurable All the goals mentioned above are measurable via: Brand awareness can be mentioned by noticing the online behaviour of the targeted group Sales number is a direct measure for the revenue. Social mention, number of Impression will help in measuring the digital footprint. Number of people coming on the website Social media monitoring Focus on the Asian market and create a market dominance A-Achievable All the numbers mentioned are achievable because of the historical data collected in the past, and also realizing some loopholes in the earlier marketing strategy. The new marketing strategy will help in getting the desired numbers. R-Realistic The goals mentioned are realistic as the company has done remarkably well in the recent past and surprised the management, thus it has to repeat the history. T-Timeline All the goals have to be achieved in a duration of 1 year, W.e.f 1st of march 2018 Dell- Marketing Strategies Marketing strategies helps a company to achieve the desired goals and objectives. The goals set for Dell revolves around increasing the brand awareness, increasing the revenue, increase in customer footprint, increasing the digital footprint and establish a market dominance In the Asian economy. In order to achieve all the objectives, the company will have to create a formidable strategy to achieve the set goals. The primary function before setting up a marketing strategy is to deeply analyse the entire marketing mix of the company. As mentioned in the earlier part the company wants to focus on the Laptop division, keep its prices low, wants to sell laptop via global model and use both the traditional and contemporary methods to market and promote its product. The company has a competitive leverage over other new players owing to its strong brand loyalty and brand recognition; moreover its USP of providing excellent customer service and support 24*7 makes the company ahead of the race. Hence the entire recommended marketing strategy for the company has to revolve around its marketing mix. The marketing strategy will thus focus on increasing the sales numbers and creating a very strong digital presence to tap the targeted audience. Digital in the last few years have created a very strong impact on the marketing strategies of domestic as well as international brands. Brands are investing in hug e sum of money to cater to that audience and build a relationship with them. The rise in millennial and the growing internet penetration has made the targeting easier. Adding to it, business analytics tools help in doing a profile targeting on any device a person uses to access the internet. Thus, the entire marketing strategy has to revolve around digital communication and less focussed on traditional modes of communication[11] Marketing Strategy Goals Marketing Strategy Increase the brand awareness among the age group 15-24 years This is the fastest growing consumer audience for Dell. The audience consist of college, school going kids and early professionals. They will be using the laptops in their daily life and Dell has to target this audience segment. In order to do so, Dell has to go forward with Mobile targeting and Facebook targeting. The age group is the one which is consistently engaged with digital media and hence it becomes easier to target them through the channels of digital marketing. Increase the revenue by a margin of 15% In order to do so, the company will have to adhere to the following strategy: Increased promotion on TV, Print and Digital media. Increase the number of impression to the target audience. Buying ad inventory on Google ad-words, Facebook and you tube for banner and video promotions. Conducting quiz and contest to increase both the brand awareness and revenue for the company. Sign up a celebrity from tech world to promote its hi spec laptops Increase the digital footprint by 20% In order to do so, the company has to do extensive promotions on social and digital media. Dell has to sign up with various bloggers and tech forums to write about their latest products. This will help the tech enthusiasts know more about the company and its innovation. Facebook is the fastest growing social media site and thus Dell has to ensure that it creates good engagement on Facebook. It has to come up with daily posts which are engaging for the audience and wants the consumers to interact with the brand. Increase the traffic on the website by 25% The same has to be achieved by employing both organic and inorganic tools of marketing. The organic tools comprise of SEO and inorganic tools comprise of SEM. As part of the organic strategy Dell has to put relevant content on the website with the best performing keywords in the tech industry. This will certainly help Dell in achieving a high ranking in the content relevancy and organically the company would appear on top every time somebody searches about laptops and related product. The company has deep pockets and thus it can spend some money on search engine marketing. The SEM will allow Dell to come on top of the organic search showing paid advertisement to the audience. Another thing which the company has to do is by delivering number of impressions on the popular tech sites, such as mashable, tech crunch and on social media sites, you tube and so, All these strategies in comprehensiveness help in reaching the set target. Increase the engagement and conversation on the social media page by 10% Dell has a very good brand loyalty and a good brand recall, this however has to be translated in the numbers and achieve revenue for the company. Social media plays a very important role in achieving this metric. The TG of Dell is 15-24 year people, this TG is always mobile and hence mobile and social targeting will be really beneficial to them. The company has less reach on Facebook and Instagram, in order to increase the reach Dell has to come up with a campaign Participate to Win Dell, under the campaign post a lot of quiz, contest and relevant material to increase the engagement with the audience. The company has been slow with posting regular updates on the social media sites; it has to definitely come up with posts targeting the target group of Dell. Following the above mentioned strategy, Dell would be in a position to achieve the SMART objectives laid for the company and increase the brand awareness, market revenue and digital footprint in the industry. It certainly will also help the company to make a connect with the new audience which will further translate into numbers. Conclusion Dell is one of the leading marketer, producer and manufacturer of Laptops, PC and computer peripherals. The company operates globally and without having a retailer in its channel of distribution the company has created a name for itself in the market of PC and laptops despite facing tough competition from numerous players. The company has been living up to its excellent customer service and after sales support, this can also be seen as the USP of the American giant. However, it has been felt that the company has not been doing exceedingly well, like the way it should have. There are gap in its marketing strategy which poses a challenge for its ubiquitous position. Hence, certain things have been strategized for Dell as a part of its marketing strategy. The company has to focus on the tools of Web 2.0 in order to spread awareness in the market, focus on the Asian economy and take the leverage of its dominance in customer support and service. Digital footprints of Dell are low in compa rison to its competitors and thus the right way to move forward is by deploying the gimmicks and tactics of digital marketing. References Beyer, C.A., 2017.Optimizing shipping pricing on Dell. com on build to order notebooks to US consumers across customer experience, profitability and working capital(Doctoral dissertation, Massachusetts Institute of Technology). He, Yuanjie. "Supply risk sharing in a closed-loop supply chain."International Journal of Production Economics183 (2017): 39-52. Jackson, G. and Ahuja, V., 2016. Dawn of the digital age and the evolution of the marketing mix.Journal of Direct, Data and Digital Marketing Practice,17(3), pp.170-186. Khan, M.T., Durrani, M., Ali, A., Inayat, I., Khalid, S. and Khan, K.H., 2016. Sentiment analysis and the complex natural language.Complex Adaptive Systems Modeling,4(1), p.2. Kraemer, K.L., Dedrick, J. and Sharma, P., 2009. One laptop per child: vision vs. reality.Communications of the ACM,52(6), pp.66-73. Larsen, A.I., 2017.DELL Technologies(Bachelor's thesis, BI Norwegian Business School). Nilsen, A.B., 2017.DELL: 2: 1 Convertible Notebook(Bachelor's thesis, BI Norwegian Business School). Pedersen, M.H., 2017.DELL Technologies(Bachelor's thesis, BI Norwegian Business School). Saleem, A., Ghafar, A., Ibrahim, M., Yousuf, M. and Ahmed, N., 2015. Product perceived quality and purchase intention with consumer satisfaction.Global Journal of Management And Business Research. Stark, J., 2015. Product lifecycle management. InProduct Lifecycle Management (Volume 1)(pp. 1-29). Springer, Cham. Xu, L., Chen, J. and Whinston, A., 2011. Price competition and endogenous valuation in search advertising.Journal of Marketing Research,48(3), pp.566-586.