Role of Technology in Today's Markets and Role in Companies Success
According to Ali, Osmanaj, Arlyalat, Chimhundu & Dwivedi (2023), Marketing is defined as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings, that have values for customers", and marketing is the way to deliver to customers the full potential of the market. The quality of the business performance is affected by the pace of technological advancement and achievement, as the overall organization performance (Ali, Osmanaj, Arlyalat, Chimhundu & Dwivedi, p64). In order to generate quality sales leads, and implement successfully the marketing campaigns, in line with stated goals and objectives, Companies resort to Cloud Computing and E-commerce. An example if the Internet of Th^ngs, that "analysis data about the environment and the customer(s)' individual attributes, allowing for new personalized, and reality-augmented services that involve little or no human interaction (Ali, Osmanaj, Arlyalat, Chimhundu & Dwivedi, p64).
IMB STRENGTH
IBM strength in delivering its marketing objectives is to " to be focused on hybrid, cloud and AI" and to become "the leading hybrid cloud native in the world,” according to the New Communication Officer, Adasheck of IBM (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com). The apex of IBM new transforming mission is to redefine, and implement technological breakthrough in the area of Hybrid Cloud Space, through streamlining its partnerships with several other Companies (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com). Towards that goal, IBM has agreed to let go of its managed infrastructure unit Kyndryl, in exchange for a buy out of 19 US $ Billion Dollars (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com).
Marketing Implementation
As a new marketing implementation strategy, IBM is banking on synergy established among the set of businesses run by IBM and the ensuing building of future businesses through " automation, security, consulting, and transformation." (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com). The key strategic point for IBM is to engage sales and marketing in conjunction with stated business goals of the Company is what it is being described as "zero to less than zero daylight between how sales and marketing" (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com). IBM is assigning campaign teams , specific tasks towards implementation of marketing strategies as described (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com). Specifically, ways to manage digital assets has resulted in 40 Digital Asset Management Platforms, with individualized "content, standards, and metadata" (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com). To respond to its own needs, IBM implemented 2,800 campaigns (‘A new IBM’: How the tech giant simplified its marketing (marketingweek.com), which explains why I believe this Company is successful in Marketing Implementation.
Future Market Implementation
Michael Porter's Five Forces Analysis "competitive rivalry, buyer power, supplier power, substitution threat, and new entry threat" as "Competition or competitive rivalry is the highest-intensity force in the industry environment of IBM", with other forces being of moderate strength. This priority must emphasize business growth in this industry. Other forces from the Five Forces would contribute to IBM success in a different way. For instance, "the bargaining powers of customers and suppliers and the threats of substitution and new entry are significant in determining the company’s performance" (https://www.panmore.com) IBM success or failure in the future is predicated by these five forces:
Competitive rivalry or competition (strong force)
Bargaining power of buyers or customers (moderate force)
Bargaining power of suppliers (moderate force)
Threat of substitutes or substitution (moderate force)
Threat of new entrants or new entry (moderate force)c
The viability of IBM Company in many years to come, will depend in the skillful negotiation of forces this Company is subject to , and the alignment of its strategic goals and objectives, in reaching the right strategy towards, people, processes, and technology.
Comments