Analyse, assess and evaluate contemporary issues using B2B market.
The Product Offered by TRSB
The following paper discusses about the various facts about the translation industry and the facts that are related to this. The fact is translation industry has been one of the most notable industries in the past few years that have received a huge growth. In this paper, the analysis has to be done of the case study that has been provided. The case study discusses about the several issues about the translation industry and its rise. This industry has been rising along with the other industries like the hydroelectric, power generation, aerospace, financial service sectors and many others. The case study regarding the selected organization TRSB has to be analyzed and the main factors regarding this case study will have to be analyzed and the main issues will have to be found out. The various ways in which the sector is facing challenges will have to be discussed and the ways the problems can be solved will be explained as well (TRSB EN 2017). The questions will have to be discussed and answered in this matter. This is because it is very important to find out the causes and the relations with the services marketing concepts by linking it to the TRSB.
The product TRSB offers is the translated documents by the experts at their disposal. They offer these translations to their clients on time. The organization could be able to present the translation memory and CAT tools could be very much helpful in that case. These technologically advanced things could be very much helpful for the customers.
They have to keep their pricing strategies clean so that they can offer discounts to their customers and clients as to attract them towards their services. The prices of the products and the services have to be kept within a certain limit so that it could be an advantage for them. The productivity will have to be measured according to the profits from the prices of the services.
TRSB should promote their products and services by using several technological tools and promotional strategies to attract the clients. The promotion of the products and services will have to be done by a proper marketing strategy as there are many strong international contenders present. They have a better support of the technological tools so they can better afford these services and cater to the needs of the customers.
It is important for TRSB to offer their services in Quebec mainly because the demand for these translation services is most in Quebec itself. The market competition in Quebec is very high so they have to compete in a tough business environment. These things include the customized translation and terminology management solutions (Kockaert and Steurs 2015). Various new things were embedded into the operations of the industry in this short while.
TRSB's Pricing Strategies and Promotional Tactics
The people who should be targeted by TRSB as their segmented market are the best companies in the zone and who have good brand image. This will help them to increase their brand image as well.
They should maintain public relations strategies very well that could serve as the process to attract the clients. They should attend the trade shows to draw the attention of their clients. Their organizational structure is divided into finance/accounting team, business development and marketing team, operations team and IT and CAT team (Jones and George 2015). However, they have been facing several problems in this matter
The physical evidence will be the several technological equipments that do the works for TRSB. The CAT tools are very much useful when the clients do not want to pay the full money for the previously translated contents. There are several new aspects in the technology related to the CAT tools that help the translators to locate the number of times the work has been translated (Denis and Fortin 2012).
B2B marketing is one of the most integrated marketing strategies in the modern date. It helps to improve the branding of the companies. The clients are influenced positively and the important information is delivered to them instantly. This helps them to communicate with the service providers and compare it with the current market. The business to business marketing has to be the best method in this industry because the clients want newer solutions for their order and they want best services every time. The operation costs have been going higher every time and they have to think over this matter again. The companies stopped the outsourcing and they closed the translation departments. This shift was to focus on moving to the translation agencies.
TRSB should apply this B2B marketing with their clients since they are one of the global brands in the translation industry (Brennan 2014). They should communicate with the clients via social media and other technological tools to let them know about the latest improvements in their products and services, discounts for premium clients and others. Some of the companies adopt some of the strategies in this context since they had to revive their businesses. In this B2B marketing process, they opened a new horizon in the service marketing process. They stopped the costs and expenditures in most of the cases along with focusing on initial investments. They had to pay only for the translation actually being done. The evolution of internet has proved to be a threat for them. The advent of companies like Google, Microsoft, Skype has halted the growth of these smaller companies (Wahlster 2013). So, they have opted for the B2B marketing. Google Translate now has been covering over 100 languages. The technological shift has been paying off for these big companies who serve worldwide. Companies like TRSB who serve in Quebec mostly have to move faster since they want to catch up with them. These major companies have made niche target segmentation for themselves (Toften and Hammervoll 2013).
Targeting the Right Market Segments
The brand image of TRSB attracts the clients despite the intrusion of the global competitors in the translation industry market of Quebec. They will have to offer added values to their clients since they have to identify the main communication areas. They should target an annual 20% growth so that they can maintain a proper brand image in the market. They had been following the word-of-mouth advertising as they had a flawless reputation in the market. This time they should follow the B2B marketing strategy to draw their customers providing them an entirely new business environment and adding to their brand reputation (Brennan 2014). The brand image of this company has to be made stronger so that they can beat their nearest rivals. For this, one must analyze the advantages and disadvantages of the translation industry market. Canada is known to be a bilingual country and the need to translate various documents has an immense value and this is why the translation industry has grown so much. Many companies have gained a tremendous growth in the field for this immense need (Johnson 2013). Although, it has become very risky for the local organizations to thrive in this atmosphere since the international companies have been thronging in for business opportunities (Smith 2013).
The experts have suggested that the smaller companies should be aiming at importing the transport software. They should be reflecting their ideas, concepts, developing messages to their special desires instead of just translating the words simply. This would be a strong appeal to better their brand image. TRSB will be focusing to translate in French and English translations mainly (Singh et al. 2012). They should be aiming to position themselves as the partners who would help their clients to develop a better understanding of the documents they will be translating. They can add up to their services like consultancy services, digital media services and the content management that is developed globally (Lockhart and Seibert 2012).
The paper can be concluded by saying that TRSB has been innovating several new strategies to cater to their clients and innovate new things to strengthen their brand value. The fact is that the translation industry is a relatively new industry and it has a lot of global competitors in front of them to tackle with. They have applied several new techniques and changed their business environment completely. TRSB and its senior management has observed the flaws within their dealing techniques and changed many things within them. Thus, the company will be fighting with the global organizations in the translation industry in this competitive business environment. Several things have been found in this discussion such as the marketing mix variables of TRSB. They could be attempting to spread their business in several ways like taking the help of the technological tools and the segregating the markets properly. Their aim is to dominate the translation industry despite fighting with the international challenges in the first place. It is a challenge for them to overcome the obstacles in the first place and establish themselves as a leading organization in its concerned industry. Thus they can become successful.
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