Marketing Plan For Star Software Inc. Essay.

Discuss about the Marketing Principle for Star Software Inc.

The aim of this paper is to provide a marketing plan for computer calendars by Star Software Inc. This will involve providing analysis of the current situation of the product within the company, objectives, target market, marketing strategies, marketing implementation, budget, evaluation, and control. Star Software is a company that offers specialty advertising and calendars. Most of its activities are seasonal. Therefore, during off-peak, the staff is often idle. This called for the need to conduct research on a new product that could bring profits even during business off-peak. Computer calendars offer the company an opportunity to make profits at all times.

Star Software Inc., was founded in 190 as a family-owned venture. It sells calendars and offers specialty advertising to approximately four hundred businesses. The business is seasonal. It is usually at its peak during October, November, and December. This is a challenge since, apart from the three months; most of its staff is idle. Therefore, the company has been trying to invent ways in which it can still make profits during off-peak.

This led the company to carry out a SWOT analysis. The findings of the analysis showed that Star Software Company had opportunities in the increased use of technology among its customers. Consequently, the company developed computer calendars. In the calendar-making industry, it is the only company offering computer calendars. Moreover, the company has learned to position this product as unique, convenient and easier to use. This has given them a competitive advantage.

The company was initially developed as a printing company in 1960. Later, it became specialized in providing customized calendar software and specialty advertising. The following is the current environment situation of Star Software Inc.

Competition:  From a regional perspective, competition in specialty advertising is very stiff. However, at a national level, the company does not face much competition. In the calendar sector, the company has the largest market share of 90%. Since the computer calendar segment is still developing, it is quite hard to determine the company’s market share in this segment (Luca, 2015, p. 2). This means that the company is expecting growth in competition for computer calendars in the near future.

Economical forces: From a recent research, it was established that most companies have cut down expense on advertising on mass media. However, the study also revealed that most organizations are opting to specialty advertising and promotion of sales. This provides a good opportunity for Star Software Inc. since computer calendars can effectively achieve specialty advertising.

Background to sustainable offering

Political factors:  Star Software Inc., operates in a peaceful country. Therefore, there are no expected political interruptions to its operations.

Legal factors: There has been a debate on the issue of ‘junk’ mail. Consequently, there may be regulations to control ‘junk’ mail. This could adversely affect Star Software since a large percentage of its specialty advertising depends on sending mails to customers. However, research has shown that most companies have opted to divert funds towards specialty advertising (Koponen, 2011, p. 36). Meaning, the legislations may not have any impact on the company.

Technological forces: The emergence of Personal Information Managers that store a wide range of information; including computer calendars. Meaning, Star Software may have to the calendar software to be compatible with the new technology.

Socio-cultural forces:  There have been new trends among consumers. Today, people like a product that is easy and convenient to use (Piszczek, 2016, p. 11). Software calendars by Star Software Inc., offer the best solution for the change in trend among consumers.

The calendar industry is experiencing constituted by many players. However, Star Software still holds the largest market share. Star Software’s customer base consists of both manufacturing and non-manufacturing companies. It is considered that these groups have large networks of customers since they distribute their products through brokers, dealers or distributors (Wall, 2016, p. 45).  Currently, the company is making more profit from the computer calendars since they can be tailored to meet the clients’ preference.

The ultimate objective of Star Software is to enable companies to market their products or services to potential customers. This objective is divided into the following categories:

• Financial Objectives

Star Software hopes to have a constant 50% cumulative net profit. This amount should be acquired from customers from non-manufacturing sectors who have non-seasonal products.

• Marketing objectives

The company should have a conclusive picture of its customers. Currently, Star Software enjoys 90% reorder rate. This could mean that the company has an adequate understanding of its customers. However, this could be improved through conducting regular reviews of the objectives and reaction from clients (HJ Crawford, 2015, p. 560). This could lead Star Software to acquire new clients.

• Other stakeholder objectives

The company should consider creating new products. Offering specialty advertising and software calendar is good. However, considering the equipment and technology at its disposal, it could conduct research to determine other possible products desired by its customers.

Star Software has 4 groups of the target market. They are as follows:

• Target market 1

Environmental Analysis

This group consists of large manufacturers. Also, it includes stand-alone manufacturing divisions of big companies having distribution networks, brokers or dealers. For example, Toyota distributes its products to many dealers. Therefore Star Software could provide customized computer calendars to the company to issue dealers.

• Target Market 2

This group is constituted by non-manufacturing corporations like banks and health facilities. The category is considered because it has a large network of customers. For example, manufacturing companies distribute goods to different hospitals. Therefore Star software could develop customized calendars for particular hospitals.

• Target Market 3

This category is made up by corporations that hold seminars, expos, meetings, shows, and conventions regularly. A good example of a group in this category is the American Association of Marketing that holds annual conventions.

• Target Market 4

This group s constituted by direct consumers of successful brands’ products or services. For example, apart from providing specialty advertising to brands with licensing agreements, the company could also offer customized computer calendars. However, this requires marketing to the dealer (Touboulic, 2016, p. 90).

4. Marketing strategies

• Positioning

Star Software achieves product differentiation through meeting clients’ expectations, anticipating customer needs and responding fast to customer requests. These factors give the company a competitive advantage since it is impossible for competitors to match them (Allen, 2012, p. 12).

• Product/offering

Star Software Inc., deals in calendar software and specialty advertising.

Price

The premium price of Star software is a reflection of high-quality in specialty advertising. However, the company should be mindful of consumer demands and trends in the industry (Gruyter, 2015, p. 225). Also, it should be regulated to ensure to provide a competitive advantage.                              

• Placement

Star’s products are lightweight, compact and eco-friendly. Therefore, the best form of placement is direct marketing.  For example, the products can be shipped to clients from a central point using means like Postal service and other parcel services (Truong, 2015, p. 230).

• Promotion/Marketing communications

More than half of Star’s consumers reorder. Therefore, it would be best to direct promotional expenditures on new product offers (Linda Brennan, 2014, p. 315). This can be done through journals, periodicals, and direct email advertising.

Star Software Company has four categories of the market. This calls for the need of marketing organization to meet specific needs and preference of customers. Therefore, the company will constitute four marketing teams. Each team will be responsible for marketing Star Software’s products to the four categories of market segment (Ling, 2015, p. 36). All the activities of marketing implementation will commence in the next fiscal year beginning 1^st July.

• On first July, the Marketing Director will create four sales manager positions. Similarly, there shall be a business analysis team constituted by nine employees. The project leader for this team shall be the marketing director.
• After two weeks, each business analysis team shall be mandated with the role of designing a customer survey project and conducting research for potential new product offerings.
• On 5^th August, the business analysis team shall present a report based on the responsibilities assigned froth 15^th
• On 20^th August, processes for developing a marketing information system will commence. This will help in monitoring patterns for customer reorder.
• By 1^st September, the team will have completed the development of the system. Thereafter, they will start conducting a survey on customer satisfaction. This will include contacting customers who did not reorder.
• By 25^th September, the team will have compiled a report on customer satisfaction survey.
• By 5^th October, new product offering advertisement will have begun. The marketing team shall begin making customers aware of the features and advantages of computer calendar.
• By 5^th January, the company will have commenced on implement the new product offering.
• Lastly, it will reestablish the business analysis team objectives for the next fiscal year.

6. Budget

The new product research and customer satisfaction survey will be at least 45% of the coming year promotional budget. Additionally, product research and development will constitute 30% of the budget allocation. 20% of the budget will be used in the development of marketing information system. The remaining 50% will be used in the new product implementation.

To evaluate and assess the effectiveness of this marketing plan, the following procedures will be followed:

• There shall be a project team in charge of all activities related to operations, focus, procedures, and products.
• The project team shall implement a project management concept to determine time requirements, budget expenditures, human resource needs and financial obligations of the plan.
• There shall be a business analysis team headed the marketing director. This group will be conducting regular planned and actual activities. During the first year of the implementation phase, the team shall conduct the assessment on a monthly basis (Michael, 2013, p. 21). After this, the comparison analysis will be done quarterly.

In conclusion, from the marketing plan outlined, it is quite safe to conclude that the computer calendars will enable Star Software Inc., to tangible profits thus contributing to the general growth of the business.

References List

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Gruyter, D. (2015). Starbucks Marketing Analysis. Journal of Case Research in Business and Economics , 220-253.

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Koponen, J. (2011). Future self: Emerging Digitized Life Patterns and A Personal Future Simulation System. The Journal of Science and Technology , 30-40.

Linda Brennan, W. B. (2014). Social marketing and Behaviour change . Edward Ellgar online , 317-327.

Ling, J. H. (2015). Emotional appeal in recruitment advertising and applicant attraction: Unpacking national cultural differences. Journal of organizational behaviour , 35-42.

Luca, N. (2015, October 9). Towards a service-dominant approach to social marketing theory. Retrieved 12 November 2016, from sage pub.com: https://www.sagepub.com

Michael, H. T. (2013). Information Technology Adoption in Small Business: Confirmation of a proposed framework. The Journal of Small Business Management , 25-40.

Piszczek, M. M. (2016). Boundary control and controlled boundaries: Organizational expectations for technology use at the work-family interface. Journal of organizational behaviour , 6-12.

Touboulic, A. (2016). Sustainable purchasing and supply. Journal of Marketing Channels , 85-87.

Truong, V. (2015). Social marketing quarterly. Elsevier , 230-248.

Wall, T. (2016). Smart Trolley: Working Alongside Retail Technology in Urban Areas.