Dataset Technology Company
Dataset’s long-term strategy towards competitiveness in the market is through product extensions (Stokes, & Lomax, 2008). Product extensions for the company will include variations in core software rather than launch new products. Product extensions will mostly target software applications that Dataset is already offering in the market and web designs that provide improved usability for clients. For instance, the educational software applications that the Company has been offering on the market will be extended to a family of related educational software so that clients can have a variety to choose. Secondly, Dataset’s brand extension for its software products will involve the creation of lighter, more standardized, and professionalized versions of the educational and corporate software as an improvement of the ones already in the market. The third approach of brand extension that Dataset will create is software add-ons for software applications produced by other companies. Finally, specialized software products that target the Company’s vertical market will also be part of its brand extension initiatives. All the four brand extension strategies will exploit the mature market niche of Dataset’s software products as well as its position as the fastest-growing provider of IT solutions on the global market (Stokes, & Lomax, 2008).
Position statement (Perceptual map)-Position against competitors
Classy and Distinctive
Ideal for corporates User-friendly
Luxoft Terra Networks
Practical and affordable
The perception map reveals that clients view the products and services of software and tech companies on the basis of four main qualities: practical and affordable, user-friendly, Ideal for Corporates, and classy and distinctive (Teece, 2014). Dataset Company shares the same perception qualities with companies such as KE Software, ZI Corporation, Neopost, and Luxoft. However, the Company scores higher than other major industry players when it comes to providing software and web solutions that are practical and affordable in different market segments while maintaining the quality of being for corporates. Dataset Company considers customers’ perception about it among other tech companies as positive because Companies are increasingly becoming cost sensitive. As Companies cut costs, they are also keen on using the best quality technology solutions to deal with market pressures.
Product positioning statement
Dataset’s ideal customer is any entity that needs software and web products such as a corporation, learning institution, government department, or private company. The Company’s target customers are in different parts of the world both in developed and emerging markets (Stokes, & Lomax, 2008).
Dataset serves clients from all industries (manufacturing, service, construction, and public service). Dataset believes that all institutions need technology solutions to be efficient. The ultimate achievement of an organization is to provide services that can improve humanity through increased quality and access to good or service being offered (Afuah, 2009).
Dataset’s clients have one thing in common: the insatiable need for simplicity and high quality. To meet the client’s common need, the company invests in employing the services of technology professionals to be set the pace in software website design innovations.
Dataset’s products differ with competitors’ three main aspects: corporate appeal, affordability, and simple usability. Competitors often mistake complexity and sophistication. By trying to look sophisticated, competitors end up making complicated software products that are not user-friendly. Clients should choose Dataset’s products in the industry cost-effectiveness drives growth while usability encourages a client to always find best solutions in the market from technology in the simplest way possible.
The Basis of Marketing Segmentation
Dataset serves different markets across the world. Thus, the clients have different needs that require customized IT solutions form content providers and the software developers. For this reason, Dataset prefers geographical market segmentation where the products offered differ in price, the promotional channel, and product usability based on the geographical location of the client (Stokes, & Lomax, 2008). For instance, clients from Asia are likely to request for software solutions that address their market needs, which are different from clients from Europe. Dataset readiness to a geographically segmented market is enhanced by several factors such as (Afuah, 2009):
Adopting a design strategy that aligns products with the buyers
Having a high-impact marketing professional’s team.
Producing the best quality products that attracts that has the greatest returns on investment.
Maximizing conversions, managing, and measuring the Company’s content marketing.
Having a flexible marketing plan with pre-stated priorities.
Targeting the best customers
Dataset Technologies will use different strategic measures to determine the best customers in the market. Client information such as size, the type of industry a company operates, and the level of value it is likely to derive from enhanced efficiency are some of the factors that will be used to measure customer preferability.
After identifying the best customers, market positioning will involve the execution of a marketing mix which is relevant to a given market geographical segment. Where the market is unfamiliar with Dataset’s products, promotional efforts will be initiated to create awareness and project the products as an alternative to competitors. The unique selling proposition for most market segments is value creation. The positioning map will be useful in using customer perceptions to carry out marketing. The value proposition for different market segments is to communicate the strengths Dataset’s software and website designs in meeting the institutional needs of customers (Stokes, & Lomax, 2008).
Using the 4Ps of marketing
Product: Identifying the specific market needs of clients in different industries is an important positioning strategy. Products will, therefore, be designed to meet the requirements of a given client regardless of their geographical location (Afuah, 2009).
Place: Dataset’s offices in different geographical locations will complement its online presence so that customers can digitally order for products and also be able to sign contracts online. In cases where a sales force will be effective, software developers will be sent to provide consultancy services for the Company’s products that are relevant to a given market segment (Afuah, 2009).
Price: The price of a product will depend on the geographical location of the client, the type of product they need in terms of features and usability and the cost of dispatching employees to the place.
Promotion: Promotional strategies that Dataset intends to use will depend on the level of familiarity of its brands.
Implementation time table
The implementation timeline is three weeks. The table indicates different activities to be implemented in the specific periods.
Afuah, A. (2009). Strategic innovation: New game strategies for competitive advantage. New York: Routledge.
Stokes, D., & Lomax, W. (2008). Marketing: A brief introduction. S.l: Thomson.
Teece D. (2014). A Dynamic Capabilities-Based Entrepreneurial Theory of the Multinational Enterprise. Journal of International Business Studies, 45(1), pp. 8-37.