Marketing strategy of software

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New product development

at

Narmada Computers

By

BIPIN BHARDWAJ

September, 2010-12

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EXECUTIVE SUMMARY

Understand the market and the challenges Needs to grow their revenues by developing new product & services Methods used to study this project were mainly through the primary

data collection Narmada Computers is a company of Credibility, Reliability,

Innovative, and Outsourcing. Software development. IT consultancy. Software Product marketing company.

Quality and cheaper in cost. Narmada Computers is a company of highly innovative people, and

also they are down to earth thinkers.

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Objective

Short term objective –There will be marketing of software product like software product, outsourcing of the project that we will take from Software Company and small scale industry, college project by applying innovative ideas to it.To gain credibility and sufficient revenue through building partnership with potential organization with very effective and efficiency way .We as Software Company add value to the software project.

Long term objective - : By delivering software project on time, as per the customer requirement and with low cost with standard of ISO quality. We successful complete the software as per within time by the client and with low cost .Making long term relationship with the customer by continuous follow up with the clients.

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SWOT analysis

1. Strength -: Quality of software, software is made within time limit, which is given by the client and with the company.

a) Credibility.

b) Reliability.

c) Goodwill within the customer and suppliers

2. Weaknesses -: If the website is not made within the time limit or duration on which

client and the company made and agreement .Narmada Computers is newly launched in the software industry.

There is much such other big company, so that Narmada Computers had to struggle more than any other company.

Competitors are large in numbers. Employees are less in number (For that it took time for the project

completion). 

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SWOT analysis

3. Opportunity -:

Favorable time for the company is there is no recession and company gets as many as project from foreign country or from Indian company.

Outsourced software marketing projects from other company Long term selling and distribution of the software projects. Design marketing strategy and marketing plan of other company. Project of online marketing of the software website.

4. Threats -: For Software Company recession is the major threats. Inflation increases can also be threats to a company. Not getting appropriate skill employee for a particular projects. Not getting the long term marketing and selling and distribution of the

projects.

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Idea Generation

Internal idea sources:

From friends and faculty of MITSOB.

External idea sources:

Customers of software, competitors in software.

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Idea Screening

Product development costs increase

substantially in later stages.

Ideas are evaluated against criteria; most are eliminated.

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Concept Development and Testing

versions of software is created.

target costumers of software are those who are using internet to evaluate product concepts.

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Marketing Strategy Development

• The target market, product positioning, and sales and profits for three years.

• marketing mix strategy.

• Product price, distribution, and marketing budget for three years.

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Marketing strategy and market Testing

Marketing strategy -:◦ Marketing targeting

◦ Positioning strategy

Market testing -: ◦ Testing industrial software products.

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Commercialization

◦ By marketing plan.

◦ Monitoring and control.

Narmada Computers Limited

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Limitation

Browsing pattern (which website are open in foreign country) according to it software is design. So it increases the work load of the company for every country we had to design.

Companies were not ready to disclose the material facts. Time for the study was limited to only two months. It was difficult to know whether willing respondent were truly representative. There was lack of adequate data for survey. Faced problem in taking appointment.

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Product Life-Cycle Strategies

◦ Product class (internet security)

◦ Product form (software)

◦ Brand ()

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Product Life-Cycle Strategies

Product development

◦ Begins when the Narmada Computers develops a new-product idea

◦ Sales are zero

◦ Investment costs are high

◦ Profits are negative

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Product Life-Cycle Strategies

Introduction

◦ Low sales

◦ High cost per customer acquired

◦ Negative profits

◦ Innovators are targeted

◦ Little competition

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Marketing Strategies

Introduction Stage

◦ Product – Offer a basic product◦ Price – Use cost-plus basis to set◦ Distribution – Build selective distribution◦ Advertising – Build awareness among early adopters and dealers/resellers◦ Sales Promotion – Heavy expenditures to create trial

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Product Life-Cycle Strategies Growth

◦ Rapidly rising sales

◦ Average cost per customer

◦ Rising profits

◦ Early adopters are targeted

◦ Growing competition

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Marketing Strategies

Growth Stage

◦ Product – Offer product extensions, service, warranty◦ Price – Penetration pricing◦ Distribution – Build intensive distribution◦ Advertising – Build awareness and interest in the mass market◦ Sales Promotion – Reduce expenditures to take advantage of consumer demand

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Product Life-Cycle Strategies

Maturity

◦ Sales peak

◦ Low cost per customer

◦ High profits

◦ Middle majority are targeted

◦ Competition begins to decline

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Marketing Strategies

Maturity Stage

◦ Product – Diversify brand and models

◦ Price – Set to match or beat competition

◦ Distribution – Build more intensive distribution

◦ Advertising – Stress brand differences and benefits

◦ Sales Promotion – Increase to encourage brand switching

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Product Life-Cycle Strategies

Decline

◦ Declining sales

◦ Low cost per customer

◦ Declining profits

◦ Laggards are targeted

◦ Declining competition

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Marketing Strategies

Decline Stage

◦ Product – Phase out weak items

◦ Price – Cut price

◦ Distribution – Use selective distribution: phase out unprofitable outlets

◦ Advertising – Reduce to level needed to retain hard-core loyalists

◦ Sales Promotion – Reduce to minimal level

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Management lesson

Punctuality hard work/smart work problem solving approach Analytical skill Creative imagination Practical thinking Innovative thinking Initiator Sense of reality Holistic view Insight thinking Action oriented approach Seeing the relative nature Judgment Alertness