Light Software limited is a privately owned company that focuses on developing computer programs, software, and systems. The firm has been in existence for the last 3 years and has over 100 corporate clients.. The organization is located in New York, but it has other outlets in California and Florida. So far, Light Software has 26 permanent employees. The company is seeking ways to expand its customer base in order to increase profits.. The company’s main product is security software, which, depending on its capability is selling and is likely to attract more clients, thus creating a larger customer base given the cyber threats that are increasing on a daily basis.
Three partners founded light software about three years ago and with time, it has grown to renowned company given its reliable technology products. The growth of the company is highly attributed to the good relationship the firm enjoys with its clients and other businesses.
There is high competition in the technology industry, especially due to the new cyber developments and threats that arise each day. The rivalry is evident due to the development of products that perform similar functions. Thus, in order to keep up with the competition, Light Software Company has made effort to produce quality products. Development of the reliable software has given the company a good reputation thus a significant customer base (lee, 2010). However, with existing and new entrants to the market, competition is expected to increase.
Most of the companies are seeking new in-house developers to create their own customized software to reduce their expenses. However, there are certain products that can be developed by a technology company, as they understand the universal needs of the industry (Lee, 2010). However, in-house software and program development is expected to continue, thus slowing down the software company’s growth and reducing their profits.
Any political force do not majorly affect the company unless there is a political statement or relationship with Light software. Nonetheless, there has never been one thus the company has never been affected.
Recently, there have been legal battles in the developer companies over the ownership of certain rights. Additionally, there has been legislation that curbs the technology firms against developing programs that may interfere with the cyber security of the nation or anywhere in the world. Thus, this reduces makes the company control what their developers can do reducing their capabilities in order to avoid legal battles.
The continued growth has positively and negatively affected the business. Due to the advancements of technology, there are now cheaper solutions, which are available online, and most businesses and individuals prefer them as they are affordable (Varnal, 2012). However, technological advancements have made it easier to reach more people, thus encouraging the expansion of the business and increase in product downloads.
Social Cultural Forces.
The society today has become too busy and people are having less time for leisure. Successful products should be convenient and easy to use. . Additionally, the device should be time-saving in all aspects in order to fit the consumer needs. the world is moving to a paperless society and at Light Softwares ,we are working hard to meet the market needs.
The company has a wide range of target customers.,However, its primary clients include the individual people who own computers and are in need of our software. Additionally, we target the startup companies that are in need of our programs or those customers who would wish to have programs developed for them.
Given the wide range of technology products in Light Softwares, our secondary target includes the large companies, organizations, and institutions, which we can sell to either directly or through brokers and distributors. The advantage of the secondary consumers is that they can buy the products in bulk and pay a significant amount of money that contributes to the growth and expansion of the company (Christian & Sultan, 2014). To achieve the company goals and ensure customer satisfaction, Light Software uses the following steps:
Products. Light Softwares started as a website design and simple programs development firm. However, over the years, the business has grown and now offering a variety of products that include accounting software, antivirus, apps, and electronic games. The concept of product mix has played a significant role in getting more customers due to the wide range of inventions to choose from.
Place. There is a need to maximize and reach a greater number of customers. ThereforeLight Software has made its products available on the official website, through authorized dealers, and in our physical stores. Additionally, the staff can visit a client’s place of work and deliver the required solutions. Worth noting is that online downloads from our website are a major revenue earner.
Promotion. Light Software has come up with strategies and tactics that ensure we reach the potential customers. Advertising is the most significant way of reaching moret clients. The company also carries out sales promotions, public relations, and direct marketing. The firm is sponsoring football tournaments in the region in order to get more audience.
Pricing. The cost of each product usually attracts the customer. Therefore, the company sets reasonable prices for its products and uses strategies such as market-leaning prices, including “buy what you need” and “premium offers” strategies.
It is important to satisfy the customer needs and make sure that we deliver the required solutions. Thus, the company does research to determine the needs of the client and potential customers (Kaherine, Phan, & Hoang, 2012). It is also important to note that customer preference changes over time, and in order to remain in business, it is important to keep up with the changes.
The company regularly analysis its productsto determine whether they are fulfilling the needs of the users. Additionally, the company has to keep improving the products and services in order to keep up with completion.
Light Software Company identifies the services and product offered by the competitor and what better about it in order to learn how one can improve the one offered to its customers and potential clients. By analyzing competition, the company is able to maintain or grow its market share.
These individuals and entities have similar goals of growing the company. With the growth of the company, the collaborators benefit. It is therefore important to identify them as they play a crucial role in helping the company realize opportunities (Kaherine, Phan, & Hoang, 2012). In this case, the collaborators include the supplier, alliances, and distributors.
Light Software’s analyses the outside forces that may affect the operations of the business and takes the necessary actions to cope with them. By doing so, the running of the business remains smooth thus concentrating on improving products and profits.
A company or organization cannot be everything to everyone, thus, it is important to know the groups of people or entities that are targeted by the products or services they provide (Varnali, 2012). Light Software focuses on its customers, including i.e. the individuals, organizations, and institutions hence reducing operational costs.
After segmentation, the company now should analyze the profits, market size, and the projected revenue of each segment. After determining which segment has the highest profits, the company settles and focuses much of its energy towards the identified area.
Positioning is the last step that deals with how the company should position itself to reach the target and valuable clients. In this step, the company should convince the customers why they should prefer their products to those of their competitors.
The company has several short term and long-term goals. Firstly, for the short-term goals, the company intends to expand its customer base by investing in marketing product promotion. Additionally, to reach a wider market, the firm intends to open more outlet shops to reach more clients and other potential customers. On the other hand, Light Software have plans to create more products with different functionality that will effectively solve or ease the customers’ work. Adding more quality products in the market will increase the revenue.
Short-term goals may be measured in several ways, including the website visits, which will indicate that more people know about the company. Also, by checking the number of product downloads that are available online, the company will identify the success of its operations (Christian & Sultan, 2010). Lastly, the number of customers who will visit or order the company products can also be used as a matrix of success. On the other hand, to measure the long-term goals the company should check the adoption rate at which their products will be bought or downloaded (Varnali, 2012). In addition, the increase of the number of customers may also be used to measure the goals.
- Product differentiation has greatly resulted in a strong market. The company is also committed to high quality products, which satisfy the customers’ needs. The ability to develop customized products has played a key role in customer retention.
- Workers who are well compensated are usually self-motivated and the customers enjoy their services. The close relationship ensures client-retention (Lee, 2010). The employees always ensure a quick response to customer’s issues.
- The company is stable financially, thus making sure that there are enough resources to run the company’s operations.
- The company enjoys a cordial relationship with its supplier resulting to knowledge of product standards and requirements (Christian & Sultan, 2014). Through the collaboration, there has been an increase in the quality of products, which consequently enhances customer satisfaction.
- Stiff competition is one of the challenges facing the Light Software due to an increased number of technology companies coming up each day (Katherine, Phan, & Hoang, 2012). The competition has increased alternative and cheaper products in the market, thus lowering the sales.
- Despite the good relationship the company enjoys with its suppliers, customers, and employees, it could greatly be affected in case of a natural disaster that could have devastating effects and cause huge losses.
- Over dependence on word of mouth as a way of marketing makes the company reactive rather than assertive.
- The company has limited finances to expand its operations and this greatly hinders the firm from earning more revenue as it cannot access more customers or compete with the big companies.
- As a United States company, Light Software has the opportunity to create a close and cordial customer relationship. Reminders such as gifts and premium offer that are useful to the customer can achieve the relationship.
- With the technological advancements, the customers may use the internet to download some of the products and receive technical support despite the geographical distance.
- Software and programs developed by the company can be used anywhere in the world (Varnali, 2012). Thus, this milestone creates an opportunity for globalization of the business and establishing of new markets.
- The demand for new and easier ways to perform daily activities, especially in the computing and technology world creates a potential for company’s growth..
- Theft of trade secrets and piracy of software through copying are usually difficult to control thus leading to losses.
- Re-engineering and out-sourcing trends in the market may lead to loss of markets and slowed growth of the company due to lack of customers (Lee, 2010).
- Competition from the technological giants and other firms that produce similar products is strong.
- Specializing in a single line of production of similar products that depends on new and different ideas means that the life cycle of the programs developed may be short.
Bach Christian and Sultan Alghamdi (2014). Technological factors to improve performance of marketing strategy. Retrieved from http://www.asee.org/documents/zones/zone1/2014/Student/PDFs/15.pdf
Cooper Lee (2010). Starategic Marketing planning for radically new products. Journal of Marketing, 64(1), 1-15.
Johnson Katherine, Li Yang Phan, and Trinh Hoang. (2012). The innovative success that is Apple Inc. (1), 1-39.
Kaal Varnali (2012). The impact of the internet on marketing strategy: Revisting early predictions. InternationalJjournal of e-business Research, 6(4), 38-51.