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MARKETING STRATEGIES OF GLOBAL WEB OUTSCOURCING LTD Introduction The term marketing has changed and evolved over a period of time, today marketing is based around proving continual benefits to the customer, these benefits will be provided and a transactional exchange will take place. The Chartered Institute of Marketing defines as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitability’. Philip Kotler defines Marketing as ‘satisfying needs and wants through an exchange processes. Marketing Is a process by which: One identifies the needs and wants of the people. One determines and creates a product/ service to the meet the needs and wants. [Product] One determines away of taking the product/ service to the market place.[PLACE] One determines the way of communicating the product to the market place. [Promotion] One determines the value for the product. [Price] One determines the people, who have needs/ wants. [People] and then creating a transaction for exchanging the product for a value and thus creating satisfaction to the buyer’s needs/ want. Background Global Web Outsourcing is an ICT outsourcing company providing high quality software and Internet services to international clients. Our world-class web application development and Internet solutions strengthen the business capabilities of our client companies. We have successfully completed virtually all kinds of web related projects for offshore companies. Key Business Areas: The company specializes in following areas:
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Web application development
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E-commerce
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E-learning
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CMS solutions
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Business Process Outsourcing (BPO)
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Hotel & restaurant management software
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Healthcare & hospital management software
Market Focus • We are currently focusing on the following international markets: •
EU countries including UK, Germany, Denmark And USA
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Scandinavian countries including Sweden, Denmark and Norway
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Our Expertise
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Our main skills and expertise lie in the following technologies:
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Programming Tools: PHP, .NET, C#
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Databases: My SQL, MS SQL Server, Oracle
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Web Languages: PHP, ASP/ASP.NET, HTML
Our Business Strength: The following factors work as our key business strengths: •
Strict Quality Assurance
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Timely Delivery
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Huge Cost Saving
In addition we always emphasize on understanding clients’ needs and analyzing their requirements so that the products and services we deliver have optimum results. 1.2 Objective of the Study: The main objective of the study is to analyze the marketing strategies of Global Web Outsourcing Ltd”. The specific objective of the study is as follows: To describe the marketing strategies of Global Web Outsourcing Ltd”.
To identify the strengths, weakness, opportunities, & threats of Global Web Outsourcing Ltd”. To identify the problems related to marketing strategies of Global Web Outsourcing Ltd”. To make some recommendations to solve the problems. 1.3 Methodology: The study requires a systematic procedure from selection of the topic to final report preparation. To perform the data sources are to be identified and collected, they are to be classified, analyzed, interpreted and presented in a systematic and key points are to be found out. Nature of the study: This is an exploratory type of research. Sources of data: Primary sources: 1. Officers of Global Web Outsourcing Ltd”. 2. Customers Secondary sources: Secondary data are collected from different sources which are as follows. 1. Journal of Services Marketing, Journal of Product and Brand Management. 2. Global Web Outsourcing Company website (www.globalweboutsourceing.com
Target population: All officers & customers of Global Web Outsourcing Ltd”. Sample size: 100 respondents have taken to collect their evaluation through questionnaire; 30 of them ore officers of Global Web Outsourcing Ltd”. And 70 of them are customers. Sampling Technique: judgment sampling has been used to select sample. Data collection Methods:
Telephonic surveys
Opinion Surveys
Face to face interview
2. Company Profile: Global Web Outsourcing is one of the fastest growing IT Companies in the USA & Europe. We are primarily focused on Web Application Development for Companies and Individuals wishing to move their websites into the dynamic world of Web 2.0. The Global Web Outsourcing Team is highly qualified, experienced, and technically
skilled, whose main objective is to keep the project quality up to international standards. Global Web Outsourcing is an ICT outsourcing company providing high quality software and Internet services to clients around the world. Our world-class web application development and Internet solutions strengthen the business capabilities of our client companies’ vision. We provide web development services to our global clients 24 hours a day with our intensive R & D efforts, quality, and competitive cost-effective solutions. To our clients: Our vision is to provide our clients with innovative new features that enhance the relevance and effectiveness of our products and services through the use of the latest Internet-based technologies; and to maintain our position as an industry technology leader through robust investment in research and development. To our employees: Our vision is to offer employees the opportunity to be part of a dynamic, growing and winning organization, focused on providing clients and investor’s outstanding products, services and returns. Background Global Web Outsourcing is an ICT outsourcing company providing high quality software and internet services to international clients. Our world class web application development and internet solutions strengthen the business capabilities of our client companies. We have successfully completed virtually all kinds of web related projects for offshore companies. Key Business Areas: The company specializes in following areas: •
Web application development
•
E-commerce
•
E-learning
•
CMS solutions
•
Business Process Outsourcing (BPO)
•
Hotel & restaurant management software
•
Healthcare & hospital management software
Market Focus •
We are currently focusing on the following international markets:
•
EU countries including UK, Germany, Denmark And USA
•
Scandinavian countries including Sweden, Denmark and Norway
•
Our Expertise
•
Our main skills and expertise lie in the following technologies:
•
Programming Tools: PHP, .NET, C#
•
Databases: My SQL, MS SQL Server, Oracle
•
Web Languages: PHP, ASP/ASP.NET, HTML
Our Business Strength: The following factors work as our key business strengths: •
Strict Quality Assurance
•
Timely Delivery
•
Huge Cost Saving
In addition we always emphasize on understanding clients’ needs and analyzing their requirements so that the products and services we deliver have optimum results. 2.1 Mission & vision: The primary mission is expanding our leadership position in the spice, not seasoning and flavoring market. •
To provide quality services to customers.
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To make quality investment.
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To ensure sustainable growth in business. Our slogan is, “To win the utmost satisfaction, trust and loyalty
Of our valued customers Maintenance
Monthly Website Maintenance Plans In order to have your customers return time and time again, it is imperative to keep your website as up-to-date as possible. Customers want to know what’s new and to see there is something on your website they should come back to see. Monthly website maintenance plans help website owners stay on top of their website to attract the highest number of return customers as possible. The monthly website maintenance plans from ROI Essentials offers several updates that include but are not limited* to:
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Adding/Deleting/Updating site products Adding regular specials, coupons, etc. to attract new customers
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Removing and replacing old news items and press releases
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Removing and replacing date sensitive information (eg dates of exhibitions or events your company is attending or arranging through the year)
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Removing and correcting broken links to internal and external sites
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Replacing and updating images
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Updating staff profiles or recruitment information
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To sign-up for a monthly website maintenance plan, review the options below and contact us today! If you don’t see something that fits your exact needs, please let us know as we are always able to accommodate your needs by offering a specially created package for you. ROI Essentials offers the following website maintenance plans: We offer a pay as you go solution for simple changes or updates. To receive pricing for this services please call one of our representatives at 1-214 717 4871 to discuss your needs. Silver Maintenance Plan Includes two (2) hours of website maintenance per month Perfect for small websites of 3-20 pages Total Monthly Cost: $140 Gold Maintenance Plan Includes five (5) hours of website maintenance per month Perfect for medium websites of 20-75 pages Best package for maintaining search engine positions & updating content Total Monthly Cost: $325 Platinum Maintenance Plan Includes ten (10) hours of website maintenance per month Perfect for large websites of 75 pages and more Total Monthly Cost: $600
Custom Maintenance Plans If your needs exceed any of our pre-packaged plans give us a call and we can customize a solution to fit your needs * All monthly website maintenance plans do not include site redesign, database development, or other development of site backend products (such as content management systems). All maintenance plans require a 6-month contract. Maintenance plans are billed in 15 minute increments. Unused hours do not roll over to the next month. 2.2 Corporate Information at a Glance: Name of the company
Global Web Outsourcing Ltd�.
Legal From
A private limited company incorporated in Bangladesh on
Registered office
Bangladesh office (122, Bashir Uddin Road, Kalabagan, Dhaka-1205, Bangladesh. USA Office (4043 North Stare Drive #131 Irving, TX 75038,
Telephone No.
01730056712, 01711384152, +88-02-9135732, +8803772014902.
Fax No. Website
(www.globalweboutsourceing.com).
rafiq.ict@gmail.com.
Chairman
Kurshid Haider
Managing Director
Ms. Mary Karlyne Apollon
No. Of Branches
06
No. Of Employees
35
2.3
Organization Structure: 1 00 50
Ea st We s t
0 1st
North
Qtr
Chairman Vice chairman
DIRECTOR BUSINESS Development
CHIEF OERATING OFFICER
CEO AND CHIEF TECHNICAL OFFICER
V p LEGAL AND DIRECTOR MARKETING INTERNATIONAL MARKETING COORDINATING OFFICER HRD MANAGER
OFFICIAL physician MARKETING EXECUTIVE RESERVATION OFFICER ACCOUNT OFFICER SECURITY GUARD, peon
3. Marketing Activities of Global Web Outsourcing Ltd”. Based on Target market: A Marketing Strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Marketing strategy is the way you make sure you’re getting the maximum impact from your limited marketing budget and time.
Undifferentiated marketing assumes everyone is the same and aims a particular product at everyone. Advantages: easy to plan, doesn’t miss anyone. Disadvantages: can be wasteful, ignores segmentation, can lead to disappointing sales. Differentiated Marketing aims the product at specific segment in the market. The company may be trying to sell exactly the same product to deferent segments but it will change its promotional methods and the image it creates. Advantage, separate mix can be developed for each segment, different market can be easily identified. Disadvantage, Can be costly, message may by pass some customers. Concentrated Marketing is when the message is aimed at just one small market. Advantage, Small firm can concentrate their marketing, allows a specific mix to developed. Disadvantage, Ignores other area of the market, can cause problems in future as may it more difficult for company to expand Global Web Out Sourcing Ltd. follows Differentiated marketing policy 3.1 Target market: Corporate client Recruiting agencies Global Web Out Sourcing Ltd. Take deferments step on the basis of deferent categories. Corporate Clients: Global web outsourcing is on of the fastest growing IT Company in USA with our prime focus in Web Design & Application development. Global web outsourcing team is highly qualified, experienced and technically skilled whose main objective is to keep the project quality up to international standard. Our world class web application development and internet solution strengthen the business capabilities of our client companies’ vision. 1. Special discount for CMS Website for $150 (TK. 10,000) IN advance-1,000 Tk. 2. Real live outsourcing project based CMS Joomla and Os commerce training in a world class outsourcing Company for 1000 TK. (EACH) only. 3. Host your own blog using WordPress for 7000Tk. only. Basic strategies are given below: •
Devise training programs that increase awareness about our service.
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Network, either in person or electronically where our target markets congregate.
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Direct marketing involves sending our proposal letters and prospectus. Direct marketing can only work if we contact them regularly.
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Advertise in print media or directories, often with a offer to reap the benefits of an immediate response or sales. Advertising lends credibility (image advertising) and, like direct marketing, must be continuous.
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Send out publicity and press releases through local newspaper, radio, and television station.
3.2 Marketing strategy: A marketing strategy is processes that can allow an organization to concentrate its limited resource on the opportunities increase sales and achieve a suitable competitive advantage. Marketing strategy is the way you make sure you are gating the maximum impact from you limited marketing budged and time. The importance of marketing strategy Marketing strategy is essential for the success of every business. When someone consider how little time she/he has to devote to task of the promotion his/her business then consider the fact that advertising media options are rapidly changing and are very often presented in a confusing manner, it is easy to see why most business owners love the promise but hate the actual execution of a successful marketing strategy. As a result, many business owners often find themselves chasing after an array of marketing tactics instead of the implementing a cohesive marketing strategy. Unfortunately, without a marketing strategy in place the marketing tactics which result in great success for one business may fail miserable for the next. When someone understands the underlying principles behind creating a successful marketing strategy and successful marketing message, then he /she will be able to choose for the right marketing tactics that will help him/her to achieve his/her marketing objective. The picture on the right is the simplest way to think about it, starting at the bottom.
Marketing Plan Ma rket ing
Marketing Mix
Marketing Mix
Marketing Strategy
Business Goal
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Start with your business goals: these are the highest level objectives of the business, or mission statement.
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Next, the marketing strategy: the high level rules that will govern what marketing efforts you focus on.
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After you have defined your marketing strategy, you will define the marketing mix plans for product place (distribution) and promotion.
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Then the final step is writing a marketing plan, which will describe the specific detailed marketing activities that you plan on engaging to achieve the marketing strategies and business goals.
First step in developing a marketing strategy that drives significant business results is to make sure fully understand that make by doing some research market size and growth, Competitors and customers. Getting the marketing mix right for product or service means you are covering all of the gdjhit89A •
Marketing offer
Professional Web Design and Development Training
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Professional Web Design and training Joomla CMS
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E-commerce
Computer, CCTV, Access Control sales and service
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Computer Sales and service
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CCTV
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Access Control
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Networking and Server
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Hardware
Monitor
TV Card
Printer
Network
GPRS modem
UPS
Scanner
Antivirus
CC TV
Toner/Cartridge
Note Book
ď ś Price The price set for your product or service plays a large rule in its marketability. Pricing for products or services that are more commonly available in the market is more elastic, meaning that unit sales will go up or down more responsibly in response to price changes. By contrast, those products that have a generally more limited availability in the market (but with strong demand) are more inelastic, meaning that price changes will not affect unit sales very much. The price elasticity of your product or service can be determined through various market testing techniques. o Our offers 1. Special discount for CMS Website for $150 (TK. 10,000) IN advance-1,000 Tk. 2. Real live outsourcing project based CMS Joomla and Os commerce training in a world class outsourcing Company for 1000 TK. (EACH) only. 3. Host your own blog using WordPress for 7000Tk. Only
Place This term really refers to any way that the customer can obtain a product or receive a service. Provision of a product or service can occur via any number of distribution channels, such as in a retail store, through the mail, via download files. Office Address: Name of the company
Global Web Outsourcing Ltd”.
Legal From
A private limited company incorporated in Bangladesh on
Registered office
Bangladesh office (122, Bashir Uddin Road, Kalabagan, Dhaka-1205, Bangladesh
Telephone No.
01730056712, 01711384152, +88-02-9135732, +8803772014902.
Fax No. Website
(www.globalweboutsourceing.com).
rafiq.ict@gmail.com.
Promotion: Promotion is concerned with any vehicle you employ for getting people to know more about your product or service. Advertising, public relations, point- of sale displays, and word-mouth promotion are all traditional ways for promoting a product. Promotion can be seen as a way of closing the information gap between would – be sellers and would – be buyers. Your choice of a promotional strategy will be dependent upon your budget, the type of product or service you are selling, and availability of said promotion vehicle. Marketing has come a long way from the 4 Ps of yesteryear, and yet understanding this marketing mix is for your product or service remains very relevant today. The marketing mix serves as an excellent touchstone for continually checking that you are covering all of the bases in your marketing campaign.
Personal selling
Public relation
Advertising Marketing Communication
Sales promotion
Direct Marketing
A business total marketing communications programmed is called the ‘promotional mix’ and consists of a blend of advertising, personal selling, sales promotion and public relations tools. In this revision note, we describe the four key elements of the promotional mix in more detail. It is helpful to define the four main elements of the promotional mix before considering their strengths and limitations. 1) Any paid form of non- personal communication of ideas or products in the “prime media” i.e. television, newspaper, magazines, billboard posters etc. Advertising is intended to persuade and to information. The two basic aspects of advertising are the message and the medium. 2) Personal selling: Oral communication with potential buyers of product with the intention of making a sale. The personal selling may focus initially on developing a relationship with the potential buyer, but will always ultimately end with an attempt to “close the sale”. 3). Providing incentives to customers or to the distribution channel to stimulate for a product.
demand
4). Publicity/ public relation: The communication of a product, brand or business by placing information about it in the media without paying for the time or media space directly otherwise known as “public relations” or PR. Our service: Global Web Outsourcing specializes in providing the following services. We offer all our services in a manner tailor made to fit your requirements as well as offering genuinely unbeatable incentives to regular and repeat clients.
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Dynamic Web Solutions Flash & Multimedia
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Joomla Customization
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Content Management System
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Web Layouts
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Website Redesign
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Logo Design
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Web 2.0 Design
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Graphics Design
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Custom Word Press Theme
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Web Programming
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E-commerce Solutions
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Online shopping Chart
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Social Networking & Community website development
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e-Marketing
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Testing & QA Service
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Multimedia and 3D Development
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Marketing and promotional strategies: Various strategies work well for different target markets and therefore, several may be required to triumph. The key for successful marketing understands what makes some one want to use or
buy services and what type of marketing strategy they respond to. This requires you to learn needs, problems, industry tends, and buzzwords. Benefits of marketing Plan: Having a marketing plan will help you to focus on your target market and to find if there are any gaps in the market that will provide new opportunities for you. Your marketing plan will also provide you with something that enables you to measure how you are progressing. This can then highlight strategies that are working for you and those that are not. A good marketing plan will also benefit you in that it provides your out side financiers with confidence that you know your market and that you know how to achieve your objectives. A good marketing plan will deal with the matter of sourcing new leads as well as creating new networking opportunities for your business. The bottom line means your plan will define your business as well as your customers and your future plans. Advantages of marketing plan: •
identifies needs and wants of consumers
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determines demand for product
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aids in design of products that fulfill consumers needs
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identifies competitors and analyzes your products or firm’ s competitive advantage
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identifies new product areas
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identifies new and potential customers
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allows for test to see if strategies are giving the desired results
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Disadvantage of marketing plan
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Identifies weaknesses in your business skills
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Leads to faulty marketing decisions based on improperly analyzed data
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Creates unrealistic financial projections if information is interpreted incorrectly
SWOT Analysis of Global Web Outsourcing Ltd”. Strengths: The SWOT analysis commonly used tool for identifying gaps and potential for improvement. The SWOT analysis is very easy to conduct and the explanation of the whole exercise, which dose not consume much time. Weaknesses:
Technical employ of the company has the negative views about the management of Global Web Out Sourcing Ltd. There is shortage of skilled employ in the company due to which the company has to face a large of competition. The advertisement budget of the Global Web Outsourcing Ltd .Is very short comparatively other brands in the market. Most of the managerial staff is not well There is also very weak point in the management which is the over staffing. There is over staffing in the management. The salaries of management staff are very low and experience people dose not come for the job. The management staffs dose not has enough direct links with their clients. The company has not developed the promotional strategies for the international market Opportunities: Due to flexibility of government policy of the Global Web Out Sourcing Ltd. Has opportunities to increase their business. Due to the strong financial position of the company, the management can use the latest technology in their products. They can use brand name in the international market to increase their sales. As the company is financially very strong , so it can use electronic and the print media to increase their sales Global Web Out Sourcing Ltd. Should appear in the national industrial exhibition. It is a big opportunities for the company to create the awareness of its brand in the national as well as international markets. Threats: A large number of the new incoming companies are increasing the competition in the market. Global Web Out Sourcing Ltd. Are offering the same products at relatively lower price. Finding 4. Problem Identified: The problem on marketing Strategy of Global Web Out Sourcing Ltd. Have been shown below: •
The company dose not accurately follow the given policy of marketing plan.
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The management dose not cheerfully encourages the employees on take training about software developer.
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There is huge problem in pricing. As pricing is not fixed so customer get different price quotations from the employees for same product.
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Our website will increase our company image
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Web design cost less than other company.
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Your potential customers can reach you easily
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Websites provides better customer relations and much, much more!
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Website will work for our 24 / 7
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Website will introduce our product to global market
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Projects have ranged from brand creation for micro businesses through to complex multi-site design and development solutions for large businesses and locals authorities.
4.1 Recommendations: Global web out sourcing Ltd. Is performing very well since product inception. It is quite difficult to give suggestion to improve the working conditions of Global web out sourcing Ltd. As we know that nothing is perfect, there always a room for improvement, so solutions have found the during the internship can be made up taking into account the following suggestions. Global web out sourcing Ltd. Should be very careful about website design, software development, graphics design. It dose not only mean business but also it relates with fame of the company Every employees should discuses about price margin among them as they can give same price quotation to customers. Global web out sourcing Ltd. has to improve their promotional activities. Thy can make some advertisement on Internet, participate on fair and so on. Global web out sourcing Ltd. Should monitor their plan regularly. Employees training programmer must be introduced on continuous basis so that employees have understanding with the latest developments especially with the customers. Global web out sourcing Ltd. Should introduced incentive plans for employees on regular basis so that if employees may work whole heartedly for the welfare of their
organization. While giving incentives qualification, work, experience, hard work and such other company must be considered. The organization is also in process of computerizing its records, which is good sign, but it is going on with small progress. Computerization must be done on early basis. This will help in increasing efficiency of work done, customer’s satisfaction decreases the stationary cost and resultantly it will increase profits. Fresh graduates must be recruited. As the combination of experienced and fresh can produce better results and it will improve the efficiency of management. Management by objectives needs to be introduced immediately. It will help improve the functioning of the organization and will lead to greater participation and the workers and subordinates will be encouraged. By monitoring results, we determine which of our marketing strategies are working and which are not. Identify strategies that generate leads and sales. 4.2 Conclusion: Organizations exist when two or more people work towards achieving common goals. An organization can never be better then the people it hires. Hence we have to get the best to be the best because the performance of the employees reflects the company’s image and standing in the market. Out of the three M’s i.e. Man, Money & Machine, probably the human dimension is of the utmost importance. Hiring employees is not the sole objective rather the primary goal is to devise a tool that can help the organization attract, maintain, retain and motivate them enough to give their best to organization. Training and development is therefore the first step towards success. Better the quality of the employees better the performance of the company. An organization’s ability to meet the training and development challenges provides an opportunity to make significant contribution to the company. With better quality people executing the company’s operations the HR department can create a competitive advantage for the company. 5.References www.gloubalweboutsourcing.com www.google.com Book Reference: Kotler, Philip. Principles of Marketing, marketing management.