Essay on "Marketing Strategy and Practice"
Essay 3 pages (1151 words) Sources: 1+
[EXCERPT] . . . .
Marketing Strategy and PracticeMarketing Mix and Strategy Analysis of Cincom Systems
Based on an analysis of the enterprise software industry and the unique position that Cincom Systems has within it, this firm has been chosen for an analysis of its marketing mix and international market entry strategy into China. Cincom has invested for over a decade in China, focusing on its Acquire systems for sales and product configuration (Asia Computer Weekly, 1998). The core business of Cincom is their Enterprise Resource Planning (ERP) system, CONTROL, which has achieved significant success in manufacturing and has a very stable technology platform on the Microsoft .NET architecture (Baer, 2002). The purpose of this analysis is to evaluate the market growth and trends influencing Cincom and their core ERP business, evaluating the marketing mix and international marketing strategies as well.
Market Growth and Trends
The majority of the growth in the Enterprise Resource Planning (ERP) market, which is a significant segment of the enterprise software market, is going to be in the areas of maintenance and subscriptions. These are areas that Cincom is well-positioned to excel in, as they have a large, diverse customer base in core manufacturing industries and have over time been able to attain a significant recurring revenue stream. ERP systems are used for orchestrating the many functions, processes and procedures throughout a manufacturing organization to guide the sourcing, supply chain, production planning and quality management of finished goods. Cincom has a unique niche in this market as it relies on a series of innovative mass customi
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Figure 1: Forecast, Global ERP Market, 2011 to 2015 source: Forrester
Key Competitors
Cincom faces competitors across many of its core manufacturing industries including Aerospace & Defense (A&D), Heating, Ventilation and Air Conditioning (HVAC) and Specialty Vehicles. Each of these industries has highly specific requirements, many of which Cincom's larger competitors including SAP, Oracle, Sage Group, Infor and Microsoft cannot reach. An analysis of ERP vendor's total revenue is to the right (source: Forrester and (U.S. Technology Report, 2011).
Marketing Mix
The marketing mix for the Cincom CONTROL product is provided here. The product, price, place and promotion aspects of their ERP system are next analyzed.
Starting with the CONTROL ERP platform. Which is the product, this platform has specifically been designed to support the Project Management Office (PMO) requirements of a complex manufacturing business. As the workflows are designed specifically to support Bill of Materials (BOM) definitions and engineer-to-order workflows, Cincom has created a series of analytics and key performance indicators to evaluate the performance and contribution of their systems to customers' value.
The pricing of the Cincom CONTROL system is competitive to comparable ERP systems globally and has a wide variety of site licensing programs. Pricing is defined by per-seat, per-processor and through site licensing, which provides Cincom with greater levels of flexibility relative to competitors. Cincom is also unique in that it relies on a… READ MORE
Quoted Instructions for "Marketing Strategy and Practice" Assignment:
“on the Marketing Strategy and practice of the firm/company you chose for your project. You can again use Yahoo! Finance or Hoovers.com to conduct research.
This assignment has essentially two components: Market Research and Marketing Strategy/Mix.
For Market Research, you will be doing research on the industry as a whole (rather than just on the firm you are covering), such as market growth and trends. Try *****"http://biz.yahoo.com/ic/*****" for research on the particular industry or sector which your firm is part of. You need to address the following two areas:
Market Growth and Trends : How quickly is the industry overall growing (or shrinking)? What are the trends in the industry (please focus on the industry as a whole rather than the individual firm you are covering)? How will they affect the industry as a whole (analyze both positive or negative effects)?
Key Competitors : Who are the main competitors of the firm?
For Marketing Mix, you need to address the following 4Ps relevant to the firm you are writing about:
Product
Price
Placement (or distribution)
Promotion
For international market entry strategy, you need to address the following two areas:
Host country analysis : Which country will you select as the host country for your firm to enter? Why? Please describe the firm-country fit.
Mode of entry : Which mode of entry (i.e. licensing, franchising, strategic partnership, joint venture, wholly owned subsidiary, etc.) is most appropriate for entering the host country named above? Why?
How to Reference "Marketing Strategy and Practice" Essay in a Bibliography
“Marketing Strategy and Practice.” A1-TermPaper.com, 2011, https://www.a1-termpaper.com/topics/essay/marketing-strategy-practice/7201831. Accessed 1 Jul 2024.
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