Technologyhas reformed the world as we recognize it today. One component oftechnology is the fact that it is very dynamic. Companies keepadopting new ways of completing old tasks. Consumers, on the otherhand, are fascinated by the emergence of new technology especially inthe phone industry. Companies of the decade are those that willmanage to keep up with the pace of technology (Gorman, 2002). Different companies adopt different methods, all in the name ofstaying relevant. It is thus critical for any future oriented companyto keep tabs with the trends in the industry. After a series ofchanges at Casco, it is necessary that it changes from corporatetechnology to business Technology Company. This will not only retainits relevance but will give it a new life where it has a fair chanceto grow with the industry. Consumer technology is the way to go. Thisis justified by the number of companies adopting the use of consumertechnologies for various purposes.
Marketingmix and the needed change
Asthe company turns to a consumer technology company, some changes willbe necessary. These changes will revolve around the product, price,promotions, and the place where the product will be sold fast. Thechange in the product should involve several things. First, it isimportant for consumers to gain confidence in the quality. As such,the product must show that it is better than the rest. The cheapestand easiest will involve rebranding the product. This will requirethe designing of a new logo that will represent the product in themarket. This logo should be catchy so as to consistently appeal toclients. The consumer technology market is not new. Already, thereexist companies, some of which have an extremely popular brand. Itis, therefore, paramount that Casco enters the market sharply, thiscan be achieved through doing what the rest are not doing. To thisend, the company should give a longer warranty to the product. Thiswould, in turn, communicate to the customer that the product is ofbetter quality than the rest (Gorman, 2002).
Theprice of the product will determine whether Casco finds and keepcustomers. Contrary to the expectation many people, the price ofproducts after the migration should be pushed slightly high. Manybusinesses tend to lower their prices when they enter a new market(Gorman, 2002). For Casco, strategies laid down for the productfacilitate for the price to be hiked a little. The company wantscustomers to believe that the products are of high. This is exactlywhy the warranty period was prolonged. It would, therefore, create aslight sense for the price to be lower than the average market price.With the price being a little above the average, the product would beregarded as one of high quality, and this would attract manycustomers.
Promotionis an essential factor to consider during the migration fromcorporate technology to consumer technology. Former clients need toknow that Casco has changed. New customers need to know of theexistence of the company. Previous customers are crucial to thesuccess of the enterprise. The customers can recommend new people tothe company or can also purchase the new product from theorganization as well. Today, there is a pool of clients who arereadily available, thanks to the internet. The best strategy is touse online advertisement. This can be accomplished via blogs,Facebook, Twitter and Instagram (Kotler & Armstrong, 2010).Through these sites, the company will get be in a position to listento what customers want. The company will also set itself in a safeposition where it can collect feedback from its clientele. A feedbacksystem plays a critical role in customer retention, an aspect thatCasco will need due to the migration.
Thelocation where the product will be found is essential. There must bea change in location of the company for to start with. This willsignify a new beginning. Also, the selling points should be locatednew big shopping centers. This move targets to customers shop visitthe shopping caters. Here, many people from CEO’s of largeenterprises to young people in the industry pass by. As a result, itspresence may spark interest from such people and lead to business.The idea is to be at a place where there is massive human traffic(Lovelock, 2011).
Risksof shifting from corporate technology to consumer technology
Newbusiness means new culture. With the change in business, a few thingswould have to change. Not everyone would be willing to adapt to newpolicies, and this would be a challenge. The fact the company divertsto a new market causes the risk in the scope of business (Kotler &Armstrong, 2010). The organization may be tempted to expand to areasthey never planned earlier. This can be fruitful, but on the otherend of the spectrum, it can be damaging. The technical issue can aswell arise. As the number of users for consumer technologyincreases, cases of security risks have also increased. Casco should,therefore, be ready to deal with security threats challenges. Whenconsumer technology is used at work, there are high chances thatthese companies experience a security breach. Wireless connectionscome with their problems as well. Wireless connections cannot sendand receive traffic at the simultaneously (Aladwani, 2001). Customerswho do not know may think the quality of the product is reduced.
Aladwani,A. M. (2001). Change management strategies for successful ERPimplementation. Business Process management journal, 7(3), 266-275.
Gorman,M. F. (2002). Pricing and market mix optimization in freighttransportation. In Journal of the Transportation Research Forum(Vol. 56, No. 1).
Kotler,P., & Armstrong, G. (2010). Principles of marketing. pearsoneducation.
Lovelock,C. (2011). Services marketing: People, technology, strategy. PearsonEducation India.