Infosoft - Business Plan Essay Sample

An explanation of the need for your product or service in the market

Ideally, we are living in a technology world. Besides, there are many changes in the digital world; therefore, there exists the need for an IT company to address the concerns of the clients. This new business idea will include a business that will be identified as Infosoft, and it will be responsible for the integration of new technology and software in the commercial world. The company will use a safe database and latest technology software which will provide the best services to the clients.

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A well-articulated description of the product or service you intend to provide

Infosoft will provide world-class solutions on the IT services. Mainly, the company will focus on inventory, purchase and sell programs. Ideally, an IT team will be readily available to offer the customers in their areas of concern. Also, Infosoft will provide computers, cameras, security door, cashier roll, papers, and printers. Essentially, these services will include;

Information risk assessment

Network threat analysis

Web assessment

Mobile risk assessment

Security code review

Social engineering

Cloud Services

Along with these services, the company will be able to venture into security issues as well as consolidation services. The company will offer a wide range of IT services that will be based on the consultations, research, and expertise in the field. Also, the company will be able to offer a platform through which the employees will maximize their expertise and new opportunities. Besides, the company will create a platform where the new employees will be able to develop their career. This will be achieved through informative training sessions which will nurture the skills and knowledge of the participants.

A description of the current market environment using PESTEL analysis

The operations of the company are influenced by the government interventions. Some of the interventions include; tax policies, trade restrictions guidelines, and labor laws. However, the company will respond to the current and anticipated legislation accordingly. Our current target market is influenced by the economic factors. Some of these factors include the current fluctuation in interest rates, inflation, and the economic growth (Fang, Wu, & Wu, 2006). Most importantly, the social and technological factors have increased our operations and revenue. Ideally, shared beliefs and attitudes have pushed clients towards our IT services and products.

The technological aspects and strategies are changing with the changes in times. For instance, our company will be involved in new ways of producing goods and services. This will involve the integration of new technology and software in its activities. Moreover, the company will involve technological changes in developing new initiatives of distributing the goods and services. Lastly, the company will introduce new ways of communicating with the target market. All these changes will be instilled after the changes in technology are integrated into the company. All these technological aspects will influence the marketing and advertising of our products.

A description of the direct and indirect competitors

Just like any other IT company, the company will be faced with competition from IT programming companies which offer the same services at a lower price. Most of our direct competitors have focused on information risk management and cloud services. Nevertheless, this company will manage to curb this competition by focusing on some security and consolidation issues and using a new database with more securities such as SQL. Along with that, the company has indirect competitors who lack the global exposure. The company will be able to overcome this by spreading its branches in other parts of the world. Nowadays, most concern has been on privacy and the issue of confidentiality.

SWOT analysis

According to the SWOT analysis, it is clear that the company has its strength as it has provided efficient services to the clients. Essentially, the company will be able to offer good customer services. Moreover, the company will use a safe database and latest technology software which have provided the best services to the clients. This aspect will attract customers while at the same time outshining the competitors.

Unfortunately, the company will be faced with competition from new IT agencies which are offering poor qualities at lower prices. This will influence the perception of some of the consumers. In fact, the company will face completion from globalized companies which are offering their services to people across the world. This aspect will retain customers and attract more investors as they receive services everywhere in the world.

Fortunately, our company has job opportunities which will arise from the expansion of our company. Moreover, the expansion to different countries will make it easy for us to reach out to some clients. The company will invest in learning the different languages so that every customer will be severed regardless of their races and language.

Just like any other IT business, we are faced with the challenge of Hackers. Sadly, the growth of technology has made the public aware and experts in the computer related issues. These experts have turned into hackers who have been able to access the company's resources and database (Tanriverdi, 2005, p. 311). This poses a threat to the information and credentials of the clients. Big competitors like Google and Oracle pose a threat to our company because they have their established markets. Moreover, the company has its branches spread all over the world.

Marketing strategy

Marketing strategy is essential in availing the goods to the customers. Essentially, marketing plans should include the basic model which defines the 4Ps (Product, price, place, and promotion) of marketing (Fang, Wu, & Wu, 2006). This marketing model will be vital as it will determine how the organization will be able to define its product, place, promotion and pricing strategies (Tanriverdi, 2005, p. 311). Ideally, these are the most important aspects that influence the decision of the marketing initiatives. The first and most important aspect is the product which entails the tangible and intangible goods which ought to satisfy the needs of the customers (Ray, Muhanna, & Barney, 2005, p. 625). Infosoft will identify the product lifecycle and the marketing strategies to be implemented at each stage. Most importantly, the company will recognize the benefits and features of the product. Ideally, the two traits will focus on improving the services offered by the competitors. Through the products and services, Infosoft will be able to influence and attract the potential buyers in the company. The company will be able to focus on both the core and actual products. Besides, the extra benefits and services will be given to loyal customers.

The consequent P will include the Price which will be set after the computations are made on the base costs that have been caused in profiting the item to the clients (Mithas, Ramasubbu, & Sambamurthy, 2011). Plus, the valuing of the contenders will decide the cost of our items and administrations. The apparent estimation of the item will likewise decide the valuing. Infosoft will decide how the clients see the item and how much cash they will give. Additionally, the organization will fuse skimming; which is the best approach for innovation items that we will offer. Infosoft will likewise coordinate mental estimating which will go for affecting the conduct and impression of the clients. The value system will change contingent upon how the clients see the items (Legris, Ingham, & Collerette, 2003, p. 193). At the point when our items have little an incentive to the eyes of the clients, the cost will be underpriced.

Thirdly, the following marketing strategy to be included will be the place factor. Infosoft Company will involve both the fixed and mobile stores. The decision on the best channel will depend on the approach that attracts more customers. Besides, the choice of place will depend on the inputs and costs that come with each model. Alternatively, the company will carry outplacement strategy which will determine the best channel that will be implemented in marketing our products. Our firm will help the customers get access to the services by making it easy for the customers to gain contact with our channels. Primarily, the company will focus on the approaches used by other competitors. However, the company will intensify the existing methods by making them effective and efficient.

Last but not least, the marketing strategy will involve a promotion strategy which will include an initiative that is aimed at convincing the buyers to buy the products. Infosoft will incorporate marketing communication strategies which will be important in influencing sales. Promotion is the basic tool that Infosoft will integrate into the communication strategies and aspect of the entire marketing function. Besides, the company will be able to incorporate special offers which will influence the perception of the customers. Marketing will be important as it will ensure the right products reach the right customers at the right time and price (Fondas, 1993, p. 102). Primarily, the different marketing mix will be integrated into the marketing strategy so that the company can sell its products and services. Marketing mix can make either work for or against a company depending on the user and the initiatives taken (Holsapple & Wu, 2017, p. 1711). This means that research and studies are important in determining the type of product, the place of selling the product and the promotion strategies. Lastly, pricing is important as it influences the decisions of the customers.

Conclusively, the technological world has forced us to venture into the digital world. This will involve the integration of new technology and software in its activities. Broadly, Infosoft will provide world-class solutions on the IT services. Mainly, the company will offer information and technology solutions to IT related issues. Infosoft Company will focus on accuracy and speed so that there is precision in the IT systems. We will win the customers by making collaborations with customer-driven IT. Most importantly, our company will focus on applying the IT related services to the business world. The target market will include clients with IT related issues and problems as well as corporate business. Essentially, marketing plans should include the basic model which defines the 4Ps (Product, price, place, and promotion) of marketing. This marketing model will be vital as it will determine how the organization will be able to define its product, place, promotion and pricing strategies. Ideally, these are the most important aspects that influence the decision of the marketing initiatives.

References

Fang, G., Wu, X., & Wu, Z. (2006). The Dynamic Information Technology Capability and Firm Performance: A Resource-Based Perspective. 2006 International Conference on Machine Learning and Cybernetics. doi:10.1109/icmlc.2006.259094

Fondas, N. (1993). Process Innovation: Reengineering Work Through Information Technology. Academy of Management Perspectives, 7(2), 100-103. doi:10.5465/ame.1993.9411302338

Holsapple, C. W., & Wu, J. (2017). A Resource-Based Perspective on Information Technology, Knowledge Management, and Firm Performance. Business Information Systems, 1706-1720. doi:10.4018/978-1-61520-969-9.ch103

Legris, P., Ingham, J., & Collerette, P. (2003). Why do people use information technology? A critical review of the technology acceptance model. Information & Management, 40(3), 191-204. doi:10.10...